I had some lady at a gas station tell me she was visiting from Dubia and wanted me to buy her gold for cash for gas and I told her I don't carry around a acid test kit.
There are fake golds in circulation, but I’ve never heard of anyone getting fake BTC in their wallet
.. unless it never arrived in their wallet .
There are scams everywhere, including in bitcoin, yet bitcoin still is superior to gold in almost all ways related to money and one of the ONLY exceptions is that gold has a longer history, so therefore some embedded acceptance and network effects that will likely take a decent amount of time to change perceptions and to transfer network effects over to bitcoin, that are still building on bitcoin and slowly getting eaten into in gold (referring to
seven bitcoin network effects outlined by Trace Mayer).
There are aspect of gold that people consider to be benefits, when they are likely costs, and that relates to gold's physicality.. .Its physicality is likely more of a cost than a benefit when it comes to monetary characteristics, even though overall perception is that physicality is an advantage for gold, even though hardly anyone is carrying around gold and/or transacting in physical gold, which can be fairly easily achieved with bitcoin. Can you imagine transacting $10s of thousands (or even $100s of thousands or $millions or billions) in gold versus in bitcoin. Many folks do not realize the grandness of such differences and the fact that non-physicality has advantages over physicality.. and verifiability is costly for gold too.... even though there still could be ways that guys can get tricked into believing that they are receiving bitcoin when they receive something else, such as bitcoin cash.. Bcash. or some other variant that is not bitcoin.. or bugs in third-party software including not actually holding their keys but instead transacting through third party verification systems that also have control over the bitcoin, when there are ways in bitcoin to self-custody and to self-verify.
Let me put it too you simply Jay. If Bitcoin does not outperform gold until we are many times bigger than it, Bitcoin is a niche sideshow and will not be the basis of any new monetary system. I consider this a loss to humanity and a win for authoritarians who can use fiat and gold to detriment of the commoners. This is my opinion, you can whine on about anything you want.
Fair point.
There is nothing even wrong with Gold's pump, relative to bitcoin, since you are correct, bitcoin was catching up to gold too fast... so it is good that the shiny paperized rock has been able to show some life in recent times. Doesn't hurt bitcoin's investment thesis, at all - at least not according to this here cat.
I think gold is tending to outperform Bitcoin currently in the 2025 analysis but how ever gold and Bitcoin have in a competitive market.
Despite the fact that they are
serving their users different purposes but still they have a way of price analysis that tend to compete against each other.
I don't understand how you could conclude that gold and bitcoin are serving their users different purposes, since both of them are likely hedges against the dollar and/or debt systems and the various ways that the dollar is being debased through the use of debt that governments (and even status quo rich and/or financial institutions) try to obscure and to proclaim (or act) like such debasement is not happening.
Investors While investing in any investment they tend to utilize there performances as a basis for investing at a particular point in time
There is some validity in watching trends and trying to take advantage of some assets that might be appreciating in value (price) faster than other assets... even though, sure, some of the short term trends could be misleading, even though the market has some credibility since it is a product of a variety of participating entities and not controlled by any one entity, even though the market can be manipulated in short term ways and even longer term ways and causing distortions that can take a while to play out.
The fact that gold has a very steady and fixated performance has made it attract investors and on the other hand Bitcoin price moving upwards consistently had attracted investors looking for profit on investment
I doubt that we are ONLY looking at short-term or even medium term perceptions of gold versus bitcoin in order to make our assessments in regards to how to allocate our time, energy and value.
One of the incredible aspects of bitcoin since its beginning is that it has been taking a long time for the market and even the people to learn about bitcoin and to appreciate its value, which continues to be the case today, even though we have signs of increasing awareness and adoption of bitcoin, yet bitcoin still remains in quite early days with a lot of folks hardly knowing shit about it, even folks who are involved in bitcoin might not really understand bitcoin beyond its number go up technology, and if number is not going up, then they become dissuaded in their bullishness of it.
Those of us who are either just getting involved in bitcoin and who are either building our bitcoin holdings and/or maintaining whatever bitcoin holdings that we have, we are quite advantaged over those who are not engaged in such prioritizations of bitcoin, especially since bitcoin still continues to serve as the vehicle for the largest wealth transfer in mankind, yet if you are better off directly holding bitcoin if you want to benefit from such transfer from the no coiners to the coiners.. even though the process can also be painful, since in short to medium term timeframes, such transfer of wealth does not seem to be happening in any kind of clear and unambiguous way and there seem to be various battles going on within such ongoing wealth transfer process.
More and more negativity in the press. For some reason, I think FUD season is good.
I suppose it ongoingly shakes out various weak hands, even the older bitcoiners who likely neither deserve their coins nor do they know why they are holding bitcoin... and so there are likely plenty of folks who can be shook into thinking that the top is already in since they are so set in a time frame that bitcoin has to pump in the last quarter of this particular year, as if there were to be something magical about bitcoin being within a particular schedule... so perhaps the direction of greatest pain is down, even though I was thinking that the direction of greatest pain would be UP, yet both can happen with down before up.. and sure the UP does not even need to happen.. yet at the same time, there will be a certain amount of additional pain if the up comes much later than anticipated by those who are too busy studying fractals rather than appreciating the asset that they hold.
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