d5000
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Decentralization Maximalist
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October 20, 2017, 06:18:57 AM |
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i never get the fascination for comparing bitcoin and gold. they have nothing in common. with gold being physical and being around as long as humanity ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) and bitcoin being digital and decentralized and being around for 8 years, it is practically a toddler versus an ancient comparison. Totally right. Bitcoin is a currency in its "cleanest" form - pure information. It must be used to become valuable. Without the 10.000 BTC pizza (and obviously other pioneer transactions) it wouldn't be worth nothing. The more we use it, the more it will be valued/priced. And gold is overrated. I think its current function as "store of value" won't last for more than 30-40 years. Then its price will adjust drastically to its "industrial" value, as we will have much better systems to "store value". Bitcoin may be part of it.
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stayeduptolate
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October 20, 2017, 07:26:45 AM |
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Cryptocurrencies like bitcoin are not the "new gold," Goldman Sachs said in a note, advising investors that precious metals "remain a relevant asset class" in portfolios. The analysts said that digital wallets, where people can store cryptocurrencies, are vulnerable to hacking, and virtual currencies also have "significant regulatory risks." For example, China recently banned cryptocurrency exchanges and put a stop to initial coin offerings (ICOs), the new way for start-ups to raise money by issuing digital tokens. Goldman also said that cryptocurrencies are subject to network or infrastructure risk during a crisis. For example, there was a "hard fork" this summer when bitcoin split to create a new cryptocurrency called bitcoin cash. The investment bank said that precious metals are "still the best long-term store of value" Source: https://www.cnbc.com/2017/10/19/bitcoin-is-not-the-new-gold-goldman-sachs-says.htmlWhat are your thoughts? Bitcoin and gold have some similarities but I don't want to compare both since bitcoin is a digital currency and gold is a precious metal. But I still pick bitcoin over gold for long term store of value. Bitcoin has seen lot of progress since it had started. It’s price is also increasing continuously since it started. It has gained huge amount of popularity among people and is being used intensively. Although prices of bitcoin has defeated that of gold but still I don’t think that it can replace gold and become the new gold because firstly, gold is a stable form of currency which means that its price does not change so often. Secondly, it’s a precious metal and has a physical entity. Thirdly, It is accepted everywhere in the world and can be converted into cash whenever needed. Lastly it does not need internet to work.
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usekevin
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October 20, 2017, 07:36:23 AM |
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Not again. Now even he might try his level best to drop the price of Bitcoin and when he will be successful in doing that he will also buy tons of Bitcoins just like others did .
Ya I think so.You can expect to see the low price at the November.But it's not a permanent,it will again increase.Use that dip and brought the lot of bitcoin as much you can.If so,you will get good profit after the November.But you have to keep for some time.You have to inverse the unused money in that ,to work independently and get good profit.
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Herbert2020
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October 20, 2017, 07:49:46 AM |
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Not again. Now even he might try his level best to drop the price of Bitcoin and when he will be successful in doing that he will also buy tons of Bitcoins just like others did .
Ya I think so.You can expect to see the low price at the November.But it's not a permanent,it will again increase.Use that dip and brought the lot of bitcoin as much you can.If so,you will get good profit after the November.But you have to keep for some time.You have to inverse the unused money in that ,to work independently and get good profit. fluctuations are pretty common in bitcoin, the reason for these dips and rises are not important. and speaking about bitcoin versus gold, all these short term fluctuations become irrelevant. what matters is the security and the long term performance of that thing. and bitcoin has the most security that you can wish for and so far it has been performing phenomenally! it is still considered risky because of the big swings but that risk is decreasing as the market grows bigger.
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Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip. Whales are those who keep buying the dip.
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SmartMesh
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October 20, 2017, 07:54:20 AM |
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Cryptocurrencies like bitcoin are not the "new gold," Goldman Sachs said in a note, advising investors that precious metals "remain a relevant asset class" in portfolios.
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Almat
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October 20, 2017, 08:19:12 AM |
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i never get the fascination for comparing bitcoin and gold. they have nothing in common. with gold being physical and being around as long as humanity ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) and bitcoin being digital and decentralized and being around for 8 years, it is practically a toddler versus an ancient comparison. Well they're both used as a storage of value, and are both independent of local currencies. They're both mined, and they're both finite. That's as far as the comparisons go though.
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kiboloves
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October 20, 2017, 09:57:15 AM |
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There's a lot of gold fixing. Not easy to put on the side, not easy to split. In the long run, it has the function of maintaining value, but it will not increase. Bitcoin can handle the above shortcomings. So I think the first choice is bitcoin.
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alyssa85
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October 20, 2017, 09:59:08 AM |
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It's kind of interesting how all these investment bankers are popping up to talk about bitcoin practically every week.
It's almost like they are trying to move the price with their comments...
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DaddyMonsi
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October 20, 2017, 10:01:07 AM |
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Gold is Gold while Bitcoin is Bitcoin, there should be no argument if Bitcoin replaced Gold because there is no way I can wear Bitcoin around my neck but in terms of investment, Bitcoin remains as a good invest but the risk is high compared to investing in Gold. We may see an increase of interest with investing in Bitcoin but that doesn't mean it will replace Gold. There are people who still prefer to invest in Gold over Bitcoin.
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Nathland
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October 20, 2017, 10:44:37 AM |
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Cryptocurrencies like bitcoin are not the "new gold," Goldman Sachs said in a note, advising investors that precious metals "remain a relevant asset class" in portfolios. The analysts said that digital wallets, where people can store cryptocurrencies, are vulnerable to hacking, and virtual currencies also have "significant regulatory risks." For example, China recently banned cryptocurrency exchanges and put a stop to initial coin offerings (ICOs), the new way for start-ups to raise money by issuing digital tokens. Goldman also said that cryptocurrencies are subject to network or infrastructure risk during a crisis. For example, there was a "hard fork" this summer when bitcoin split to create a new cryptocurrency called bitcoin cash. The investment bank said that precious metals are "still the best long-term store of value" Source: https://www.cnbc.com/2017/10/19/bitcoin-is-not-the-new-gold-goldman-sachs-says.htmlWhat are your thoughts? Bitcoin and gold have some similarities but I don't want to compare both since bitcoin is a digital currency and gold is a precious metal. But I still pick bitcoin over gold for long term store of value. Well bitcoin has defenitely defeated gold in terms of price but still I don’t think that bitcoin will be able to replace gold and become the new gold itself as firstly, gold is a precious metal and has physical identity onthe other hand bitcoin is digital currency. Then gold is stable and is centralised. On the other hand bitcoin is not stable and decentralised. Then gold is accepted everywhere whereas there are still many places which do not accept bitcoin. Lastly gold is way to much popular than bitcoin. So it is way to much in usage as compared to bitcoin.
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DoublerHunter
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October 20, 2017, 12:46:20 PM |
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This is right that bitcoin is not the new kind of gold because the gold has its own uniqueness and bitcoin is not like gold and it is created because of its own purpose and vision and not to be basing in gold. Bitcoin is bitcoin and it is not an improved version of gold. Bitcoin will make people rich in a faster way rather than the gold which will give you only slow process in reaching a rich lifestyle.
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chesegrinder
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October 20, 2017, 01:02:35 PM |
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Look whos talking again, Goldman issuing another FUD to make bitcoin price decrease as it was now 5700 USD, another strategy to lower the value and they will buy on the dip, It is true that bitcoin investing are only for risk taker where we can not compare it to Gold that have its physical form, but if you want a fast growing investment switch to bitcoin. Goldman sach own bitcoin even they dont say it. It is like what James Dimon last month and then turn away on the table stating that he will not talk about bitcoin anymore.
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Gaaara
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October 20, 2017, 01:07:42 PM |
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What else could be the answer. They just posted the truth. How can you hack a gold? You can only rob them and you have the chance to fight for it while in bitcoin once it is done then say goodbye to it. The physical form of gold is what makes it precious which bitcoin dont have. Power of the internet and you will also have a problem. I say investing with bitcoin is for risk takers. This is not something that is always safe like the banks. You will always be prone to attacks.
But as the technologies grow we lessen the risk of being attacked, and there is less risk by buying bitcoin than gold, gold is always been riskier for people who have a less security in their house. Anyways what is their differential is that bitcoin has more and lots of features than gold, you cannot transfer gold without spending too much and it is riskier to transfer gold from one to another. And the problem about bitcoin is that there are too many scams.
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The_prodigy
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October 20, 2017, 01:09:56 PM |
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Cryptocurrencies like bitcoin are not the "new gold," Goldman Sachs said in a note, advising investors that precious metals "remain a relevant asset class" in portfolios. The analysts said that digital wallets, where people can store cryptocurrencies, are vulnerable to hacking, and virtual currencies also have "significant regulatory risks." For example, China recently banned cryptocurrency exchanges and put a stop to initial coin offerings (ICOs), the new way for start-ups to raise money by issuing digital tokens. Goldman also said that cryptocurrencies are subject to network or infrastructure risk during a crisis. For example, there was a "hard fork" this summer when bitcoin split to create a new cryptocurrency called bitcoin cash. The investment bank said that precious metals are "still the best long-term store of value" Source: https://www.cnbc.com/2017/10/19/bitcoin-is-not-the-new-gold-goldman-sachs-says.htmlWhat are your thoughts? Bitcoin and gold have some similarities but I don't want to compare both since bitcoin is a digital currency and gold is a precious metal. But I still pick bitcoin over gold for long term store of value. Bitcoin can never be gold as much as gold can never be the same woth bitcoin. GOld is something that can never lose its value and would always be valuable. While in crypto it always depend on the stock market on a lot of variances and it needs to be secured as it is probe to hacking and manilulation.
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salihno71
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October 20, 2017, 01:11:33 PM |
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I don't trust anything that big banks say since their first concern is their own profit and wellbeing so this statement is merely in this function and nothing more.
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aencarnaci
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October 20, 2017, 06:23:22 PM |
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What else could be the answer. They just posted the truth. How can you hack a gold? You can only rob them and you have the chance to fight for it while in bitcoin once it is done then say goodbye to it. The physical form of gold is what makes it precious which bitcoin dont have. Power of the internet and you will also have a problem. I say investing with bitcoin is for risk takers. This is not something that is always safe like the banks. You will always be prone to attacks.
I think there is no match between gold and bitcoin. Both have different values and features. Gold is more secure and trustworthy for almost all the people in the world and on the other hand bitcoin is more profitable than gold. So many people prefer bitcoin to increase their investment in a short time rather than waiting for a long time. Therefore I think both are important in their places.
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Cutekittens21
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October 20, 2017, 06:30:33 PM |
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Gold is gold and bitcoin is bitcoin. They are two diferrent asset. Gold is the best metal asset and bitcoin is the best crypto asset. If you try to make the same between gold and bitcoin, it is impossible. Gold is tangible and bitcoin is intangible. How can they be the same. When we talk about the value, there are some aspects that both are good investments. Gold is good investment for long term, whereas bitcoin is also good crypto investment for long term and for short term. Think about the risk, bitcoin is more risky than gold. I think bitcoin drags more interest to young generation because bitcoin values as money or fiat.
Exactly. Couldn't have said it better. To be honest I don't even think Goldman believes what they're saying. They just have a hidden agenda. Gold is gold and bitcoin is bitcoin and Goldman is investing in both.
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lighpulsar07
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October 20, 2017, 07:01:36 PM |
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Goldman is right you can't just compare bitcoin to a gold, they have very huge differences on each other bitcoin is a merely best digital asset and new to this world with market capitalization of 100 billion while gold is very precious tangible asset and it has one of the oldest form of the asset in the world we have using gold since medieval times and it has market captalization of 7 trillion but they have both in common which is good investments
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pearlmen
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October 20, 2017, 07:04:35 PM |
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Goldman Sachs can say whatever they want to say but making reference to what is not comparable is what I see as making an uninformed decision. Who said bitcoin is trying to be like gold or wanting to replace gold. Gold is not even a competitor to start with as they both serve different primary objective even though I agree that their objective might clash in the area of keeping as an asset hoping for appreciation in the future.
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Dan D. Lion
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October 20, 2017, 07:14:11 PM |
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Whenever I read something from Goldman Sachs or JP Morgan Chase or any massive, institutionalized financial organization about Bitcoin, I usually just assume the opposite. They always have an anti-Bitcoin bias and hence cannot be trusted for objective opinions, views or conclusions. The intent here, of course, is to disparage Bitcoin by making a false comparison, kind of like saying a tricycle is not a Ferrari.
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