Bitcoin has defeated gold

[ikilledcobain]

Hmm, it may be worth more than gold, but defeated is a strong word.

I like both as an investment. Gold is for if TSHTF.

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[Anarchist]

Behind the current good health of Bitcoin, there is a monetary battle raging in China. If Beijing manages to control transactions better, Bitcoin may not continue for a long time to shadow the venerable gold standard

[Bagaji]

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.

Based on the current market value, One bitcoin is now 3 time ounce of gold but in terms of market capitalisation gold is still far ahead of Bitcoin. And this could be attributed to the fact that gold has been in existence over a long period of time as compared to bitcoin that just came into existence in just a decade.

[raymart0720]

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

[Pakar11220]

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.

Great. I love BTc price lol now its 4120$   It amazing i love to know these things.

[kristaline-ian]

hi guyz! newbie here.. please help me do it too,a lil bit confused

[stolendata]

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.

[asriloni]

Hmm, it may be worth more than gold, but defeated is a strong word.

I like both as an investment. Gold is for if TSHTF.

The bitcoin and gold has the different meant. I must say the gold just a value that has formed by the art, So you can see the gold has used to make jewelry and something that has contained the art value. The bitcoin is not just a value but a lot of the usefulness that really used by a lot of people. that brings the value to the bitcoin. I can say the value of bitcoin more than gold.

[aeternus]

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.

We must not chant victory, when the economy goes bad gold has a tendency to do well, and when the economy is in a terrible shape gold tends to do exceptionally well, we do not know what it is going to happen in such a scenario, will people run to gold as always or will they take refuge in bitcoin?

[bahandhi0508]

Above ground gold is worth $6T compare that to BTC market cap, and you'll see that it's a hundred times smaller. But even gold is nothing comparing to seeds and drinking water (they are building GMO free seeds depositors not for fun).

In my own insight gold is nothing compared with bitcoin's demand nowadays, but the certain about is really promisinf and price was hitting the top as of now. So this is now agreeable that Gold is already beaten by the price if bitcoin a $4000.

[gabmen]

Above ground gold is worth $6T compare that to BTC market cap, and you'll see that it's a hundred times smaller. But even gold is nothing comparing to seeds and drinking water (they are building GMO free seeds depositors not for fun).

In my own insight gold is nothing compared with bitcoin's demand nowadays, but the certain about is really promisinf and price was hitting the top as of now. So this is now agreeable that Gold is already beaten by the price if bitcoin a $4000.

Well bitcoin has defeated quite a lot of its competitors in investments with its great run right now. But gold is still gold so i'm not really counting it out yet but bitcoin is way ahead right now.

[batang_bitcoin]

hi guyz! newbie here.. please help me do it too,a lil bit confused

In what part you are having confusion? Do you have gold already? I can't understand on how I'm going to help you if you didn't indicate what is the specific part you need help. Anyway, bitcoin has defeated gold in terms of demand. Bitcoin no doubt the demand is starting to boom and we can see the effect of it with its current pricing.

[deisik]

hi guyz! newbie here.. please help me do it too,a lil bit confused

In what part you are having confusion? Do you have gold already? I can't understand on how I'm going to help you if you didn't indicate what is the specific part you need help. Anyway, bitcoin has defeated gold in terms of demand. Bitcoin no doubt the demand is starting to boom and we can see the effect of it with its current pricing.

That's a very far-fetched claim

If not outright bullshit. Once we had a discussion of gold versus oil in terms of daily turnover (i.e. how much gold and oil is sold and bought daily), and if I'm not mistaken, gold was a clear winner back then. Its daily trading volume reached something like 300 billion dollars, i.e. so many billions of dollar-worth of gold is traded every day. Now compare that to the whole of the so-called Bitcoin market cap with its daily volumes of just a few billion dollars

[Aventhe]

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.

Well, we have come quite a long way since then, with the price of bitcoin now at ~$4200 USD. However, there is more to 'bitcoin vs gold' than just the standalone price.

Gold is far more stable than Bitcoin, with the price barely increasing or decreasing over time. If you want to secure your funds with a very small window of risk, gold is your man. If you think that fiat is not going to survive for very long, gold is a very viable option to invest in than bitcoin.

Bitcoin on the other hand is highly volatile and can increase or decrease its value in a very short period of time, sometimes even without notice or warning. If you smartly invest in bitcoin when it is at a low price, you can't really go wrong. However if you buy high and panic sell when the price drops or dips a little, then investing may not be the thing for you.

[deisik]

Anyone who is saying that Bitcoin hasn’t defeated gold must have been blind all this while. You can’t compare gold with bitcoin at its current rate.
Bitcoin is now at the rate of $4000, with lots of investments into. I don’t even think there are lots of people investing gold like that. Gold can’t compete in the ring this time around, because Bitcoin already won the belt.

I gather you should look at trading volumes

If you really want to really see how Bitcoin actually fares against gold. You may look at these charts (though they are pretty old already but still):



And note that these figures represent only physical gold trades (no paper gold) that managed to make it into statistics. According to the the World Gold Council (WGC), bullion banks often trade directly against each other, and thus the true volume is in fact underestimated. Now compare these figures with Bitcoin trading volumes (measly 3-4 billion dollars, half of which are fake at that), and you will see how far behind gold Bitcoin actually is

[Reid]

Defeated is a wrong word for it.
It is just natural that bitcoin can come with this large price because of the number of it that is available.
Keep in mind that we also know what number it will end, unlike gold which is unknown.
Many places are still not discovered and there could be one that have lots of gold in it. That is why its price just stayed there.

[zarados]

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.

well, right now the price of the bitcoin already 3x gold price. Ofcourse bitcoin has defeated gold , but it's just in term of price. But Gold still hold a biggest popularity around the world faction, Gold survive until Thousand of year until now. But People who know about bitcoin, is just a few percent of this world population. That mean, bitcoin has not defeated gold in All category. We'll see, how long the bitcoin will survive.

[betlord90]

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.

well, right now the price of the bitcoin already 3x gold price. Ofcourse bitcoin has defeated gold , but it's just in term of price. But Gold still hold a biggest popularity around the world faction, Gold survive until Thousand of year until now. But People who know about bitcoin, is just a few percent of this world population. That mean, bitcoin has not defeated gold in All category. We'll see, how long the bitcoin will survive.

Apparently that is happening right now but for me gold is passive investment that have huge possibilities that will gain more value when more years to come and with bitcoins we cannot still guarantee that this coin will continue to live for further more years so I can't conclude to put some huge money here since I'm not sure on where would bitcoins take us for this far.

[BitcoinPC]

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.

Yeah, Bitcoin has defeated the gold. But when you asked this thread then bitcoin was $1260 and now you could see bitcoin price has been increased more then triple, and now bitcoin is $4152. So definitely bitcoin beat the gold and now may be in the coming time, we would be compare the bitcoin price with diamond price.   

[Schuyler]

If we are talking about the price of gold per ounce, then it is clear that bitcoin has overtaken it many times over. But if we are to compare one bitcoin with one gold bar, there is still a long way to go. But it isn't impossible that one day, we see that the price of both are in the same level already, if not bitcoin having the higher price. That might come sooner than later because even if bitcoin is still in its early stages of existence, it already commands a high value because of the finite number of coins that can be mined.