Bitcoin has defeated gold

[GregH37]

Bitcoin may be worth more than gold currently, but I believe gold will eventually rise higher as well. Gold has over 10,000 years of history backing it, it isn't going anywhere.

The price of gold is being suppressed by paper gold, at some point in the future when people are no longer fine with accepting paper gold and want the real thing the value of gold is going to skyrocket and when that happens people will wish that they held gold as well, at least we have bitcoin but many people do not have bitcoin or gold.

I don’t agree with this because gold has its own value in the world market. It is a solid shape of money. On the other hand bitcoin is a new digital currency and most of the people still don’t even know the name. It is not so easy for bitcoin to replace gold because of the trust and acceptance of the people all over the world. In the future the same will continue although bitcoin will be the mainstream.

value are important indeed , but bitcoin are more than just about value , we can see that the current rate between gold and bitcoin are so contrast , bitcoin leading with huge value but it is just make people keep speculating about how they consider it as bubble.

bitcoin are a digital money that you can spend it anywhere anytime easily , unfortunately yes only for limited people only while gold are well known already. and that is the big problem.

But soon, people will know about bitcoin just like what they did to gold. When the first human was born, I do not think that he did know what gold is and how to use it. Therefore, bitcoin still has many years to prove that it can become gold and replace gold in the future. Bitcoin is better than gold in many ways. It is digital, so basically it cannot be harmed by natural elements like gold. And people right now tend to hold bitcoin just like other are holding gold

That depends on your specific purpose

As many have already said (me included), gold and Bitcoin (as well as other cryptocurrencies) are used for different purposes. Gold as coins and bars, on the one hand, is used to store wealth, i.e. as a means of preserving value, while Bitcoin is used for speculation, i.e. for multiplying your wealth (and possibly losing it). As you can see, there is no competition between gold and Bitcoin, and the same investor or speculator can use and keep both without having a lot of cognitive dissonance

Gold and bitcoin have nothing common in between. Like you said, both are being used for their own purposes and there is no way that we can make a comparison in between both. If you are talking about the stability, then gold is far more stable in term of market price than that of bitcoin. Whereas in case of profit, bitcoin has actually defeated gold.

Even a fool can tell you that gold and bitcoin are poles apart from each other. There is no point in comparing both but if still comparison has to be made at any cost, then bitcoin has clear edge over gold. Gold has been used as investment for years but not now.

Gold investors are turning towards bitcoin just because of the reason that bitcoin generates profit more easily than gold.

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[Asawakobana2017]

woaaahh its a new milestone for bitcoin having higher than any currency means higher rate of bitcoin..... and also higher opportunity for miners and savers of btc to do much more for the next decades and history too

i do not think that there is any competition between the two. because both are different from each one. bitcoin is a currency and people are using it for shopping and for running business but, gold is a precious element that people do not use as currency but try to hold it or make jeweler from it.

Your right in my opinion they are different on each other bitcoin is currency gold is a precious jewelry not a currency that used in purchasing daily needs or investing.  So why do we have to compete it to each other?
All I know that they have their own importance.

[Cherylstar86]

I would like to know how BTC and Gold are compared. Checking only the price seems too simple.

When he said BTC defeated gold, he's referring to the values of these two. In terms of value, bitcoin have really left gold behind. The usability and volatility of BTC is what makes it more preferrable than gold. Bitcoin is a ready-to-use asset especially in buying goods and paying bills. On the other hand, gold is often used in jewelries and local currency coins, and can't be access immediately unless you own a big gold mining company.

Gold is old now. It prices does not rise up. After several years, it makes progress of few dollars. Other than that, can we really have gold? Where is gold? I think it is in the lockers of Rothschild but bitcoin is now owned by anyone and we all can have as many bitcoin as we want to and can buy actually. Digital currencies are the future of money and bitcoin is at top of them.

Partly I agree with you but think about it more. Gold is one of the most expensive item in the world and I think this won't fade in the long run. Inspite of the consistency of the price of bitcoin it doesn't rise but definitely it will if its demands are higher. I seem to notice it for many years and more that gold was once a genuine material in order to get cash. May have lost lives because of gold but that's not the end until bitcoin came. Bitcoin is a famous crypto currency and still existing unlike gold,we wait when will it increases but in bitcoin we will know regularly if the price gets higher or it declines. Overall,bitcoin hasn't defeated gold because it has its uniqueness in the field of making money.

[NoNetwork]

As the price of bitcoin is rising working day by working day it will be likely past the gold cost. This is what the foreseeable future of bitcoin will be before long.   

It already happened mate. Bitcoin is already at the peak of the mountain right now, the most expensive kind of investment, and much higher value than gold. Its not the foreseeable future now but, it is the current state of Bitcoin right now.

Maybe its foreseeable future now is that it will continue on rising its value, and eventually it will be accepted in many countries and different privileges will be accounted.

[kamilah147]

As the price of bitcoin is rising working day by working day it will be likely past the gold cost. This is what the foreseeable future of bitcoin will be before long.   

It already happened mate. Bitcoin is already at the peak of the mountain right now, the most expensive kind of investment, and much higher value than gold. Its not the foreseeable future now but, it is the current state of Bitcoin right now.

Maybe its foreseeable future now is that it will continue on rising its value, and eventually it will be accepted in many countries and different privileges will be accounted.

now this bitcoin has reached its peak, to the extent that the gold price is rivaled by bitcoin prices.
hence the more bitcoin is getting sought after by many people or society that lack of finance.

[skillink]

Agreed, the price of bitcoin already countered the price of gold. Will bitcoin continue to increase? I think for now bitcoin will continue to increase.

[Fesatmas]

We can see that at this time the value difference is very far between Bitcoin and Gold. I think Bitcoin is more popular as a place to invest.

[PrinceCaspian]

Bitcoin defeated gold in just price and not for the real value and that is why even the price of bitcoin is too expensive, they didn't still prefer it over gold (for the majority of the people) because they know that bitcoin is volatile and it can easily lose some price but gold has a good foundation that it can stay at the price no matter what happen.

[conected]

I would like to know how BTC and Gold are compared. Checking only the price seems too simple.

When he said BTC defeated gold, he's referring to the values of these two. In terms of value, bitcoin have really left gold behind. The usability and volatility of BTC is what makes it more preferrable than gold. Bitcoin is a ready-to-use asset especially in buying goods and paying bills. On the other hand, gold is often used in jewelries and local currency coins, and can't be access immediately unless you own a big gold mining company.

Gold is old now. It prices does not rise up. After several years, it makes progress of few dollars. Other than that, can we really have gold? Where is gold? I think it is in the lockers of Rothschild but bitcoin is now owned by anyone and we all can have as many bitcoin as we want to and can buy actually. Digital currencies are the future of money and bitcoin is at top of them.

- I agree with you, gold is old, it is of the past, the government has controlled the price of gold and made its price stable, that makes the appeal of gold dropped drastically, it does not have too much volatility, and we do not get too much profit from investing in it. And investors have gradually abandoned gold to seek new investment, and Bitcoin is the ideal investment destination, it does not belong to the government, the government can not control, potential and huge profits, attracted a lot of investors. These are the advantages that help bitcoin beat gold

[Pinkris128]

Bitcoin: $1260/BTC
Gold: $1241/xau
Well, I can not believe that the Bitcoin prices has crossed over gold sooner than I expect. I thought the process would be finished in April. Wow, Bitcoin is truly worth and everyone who has sold their Bitcoin has made a huge mistake. Nothing can stop Bitcoin right now.

for me, this means nothing.
because as far as i am concerned bitcoin defeated gold the day it was created. and i found out about bitcoin late but from the day i knew about bitcoin until today i have been seeing profit, and the amount of profit bitcoin has given me, gold could never do in all the previous years.

Yes thats true it is also because bitcoin price was not stable so there times that increases high which is far from the price of gold. Bitcoin really gives more profit than gold every time it phmp. And thats also the reason why lot of people now wants to invest here. Because they know that it will help them more and faster than the gold can do.  Bitcoin was continue in a progress and i hole it wont stop from this

[DIMKAZDS]

Bitcoin: $1260/BTC
Gold: $1241/xau
Well, I can not believe that the Bitcoin prices has crossed over gold sooner than I expect. I thought the process would be finished in April. Wow, Bitcoin is truly worth and everyone who has sold their Bitcoin has made a huge mistake. Nothing can stop Bitcoin right now.

I think that Bitcoin has only defeated gold in terms of price and rate of growth. No doubt, you can expect higher returns from Bitcoin in less time but you can't deny the fact that gold is still the most popular investment in the entire world and almost everyone anywhere in this entire world would like to invest in gold. This popularity is what makes gold the most secure and safest investment in the entire world. Bitcoin has to go a kind way if it wants to be as stable as gold.

[Astvile]

uhmm no, not yet. gold still circulates more than bitcoin. the price of bitcoin now may exceed the gold's. but bitcoin's price is unpredictable, it goes up and down. we still cant say that the bitcoin truly defeated gold if btc can still go down.

[acquafredda]

I know that on the long run we will be all dead but gold may be a better choice as a store of value in the years to come. Right now gold is lagging behind bitcoin. Vaultoro should be happy

[evgeniyosda]

yeah bitcoin defeated gold, a year ago and now bitcoin has defeated and double the price of gold in it is personal price and keep searching ahead to increase the value  of bitcoin in the foreseeable future

[Sled]

uhmm no, not yet. gold still circulates more than bitcoin. the price of bitcoin now may exceed the gold's. but bitcoin's price is unpredictable, it goes up and down. we still cant say that the bitcoin truly defeated gold if btc can still go down.

Bitcoin's price is just like for temporary while the price of gold is more on like being for permanent because even the price of gold is slow and like very stable, it is not like in bitcoin that it prices is unstable and you can easily lose money. So it is just up to the person if which he will choose, if he will invest in volatile or slow but safe. Overall, it is just up to the person and how he will deal or manage his risks enough to not lose a lot of money.

[allthingsluxury]

So many people have claimed this before. Highly unlikely. Both have their place in portfolios, to disregard golds history is a big mistake.

[tylerderden]

Bitcoin: $1260/BTC
Gold: $1241/xau
Well, I can not believe that the Bitcoin prices has crossed over gold sooner than I expect. I thought the process would be finished in April. Wow, Bitcoin is truly worth and everyone who has sold their Bitcoin has made a huge mistake. Nothing can stop Bitcoin right now.

Bitcoin and gold are both are now are of same value and there is no day left when gold is of less value than bitcoin.
People are getting rich by bitcoin and it's has been under observations that from the day of origin of bitcoin that is from year 2009 it value is increasing rapidly and it has been observed that from than if gold value raises around doubled where as bitcoin is become 40times.
Many big countries and big huge investment banks are investing in bitcoins and making huge Profit.
Bitcoin has become a turnover in the account of economy.
Bitcoin offers a number of opportunities where as gold has not that much growth. Investing in gold is not that profitable as investing in bitcoins is.
Bitcoin in a very short period has crossed every milestone and continue to achieve more.  Gold where as left as a standard. Bitcoin is continously growing.

[xhienigat]

Both bitcoin and gold is a good investment that we should all participate but I don't think its right to compare both because they both have different use in our lives, bitcoin is a technology and its very useful for our daily lives while gold is something we can wear if we want to look fancy.

[aeternus]

Bitcoin may be worth more than gold currently, but I believe gold will eventually rise higher as well. Gold has over 10,000 years of history backing it, it isn't going anywhere.

The price of gold is being suppressed by paper gold, at some point in the future when people are no longer fine with accepting paper gold and want the real thing the value of gold is going to skyrocket and when that happens people will wish that they held gold as well, at least we have bitcoin but many people do not have bitcoin or gold.

I don’t agree with this because gold has its own value in the world market. It is a solid shape of money. On the other hand bitcoin is a new digital currency and most of the people still don’t even know the name. It is not so easy for bitcoin to replace gold because of the trust and acceptance of the people all over the world. In the future the same will continue although bitcoin will be the mainstream.

But I never made the argument that bitcoin was going to replace gold, my argument is that the price of gold is not as high as it should be and that those holding gold are waiting for the same as us, for our money of choice to skyrocket, and while I do not hold gold, at least I hold bitcoin and that is going to give me a lot of profits in the future if I keep holding.

[RamBahadur.Gurung]

So many people have claimed this before. Highly unlikely. Both have their place in portfolios, to disregard golds history is a big mistake.

I agree with you. And it is completely wrong to say that gold has been defeated by Bitcoin. Even now, the market capitalization of gold is almost 100 times that of Bitcoin. And even the daily trade volumes of gold is much higher than that of Bitcoin. BTC doesn't even have a well defined derivatives market.