[2017-11-07] Google Knows: More People Search ‘Buy Bitcoin’ Than ‘Buy Gold’

[ivanpoldark]

While Bitcoin peaks, gold is looking decidedly peaky as crypto Google search trends outnumber the precious metal for the first time.

As Bloomberg reports Tuesday, the search term “buy Bitcoin” is now more frequent than “buy gold,” adding insult to injury for gold after an ounce began to cost less than one BTC for the first time this year.

“With the US stock market setting fresh all-time highs day after day, it’s no surprise gold prices have retreated,” the publication quotes UK-based BullionVault research director Adrian Ash as saying.

“Some investors are also being distracted by the noise around Bitcoin and other cryptocurrencies.”

A glance at gold profits for 2017 makes an easy case for Bitcoin being the investment short of choice for the year, a tip publicly echoed by mainstream finance commentators.

Ash added BullionVault had seen 30 percent declines in monthly gold trading for October compared to the yearly average. The trend came a gold dipped six percent from one-year highs in early September.

Meanwhile, the precious metals industry is getting backdoor innovation from Blockchain technology.

Cointelegraph reported on the weekend how the UK’s Royal Mint had successfully trialed a gold tracking system using Blockchain, with 50,000 blocks already verified before its public launch.

https://cointelegraph.com/news/google-knows-more-people-search-buy-bitcoin-than-buy-gold

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[Slow death]

As Bloomberg reports Tuesday, the search term “buy Bitcoin” is now more frequent than “buy gold,”

Is cheaper to buy bitcoin and hold for a short time and have profits... gold is expensive and not everyone can afford to buy a lot of gold

“With the US stock market setting fresh all-time highs day after day, it’s no surprise gold prices have retreated,” the publication quotes UK-based BullionVault research director Adrian Ash as saying.

“Some investors are also being distracted by the noise around Bitcoin and other cryptocurrencies.”

[Lucius]

Considering the price of BTC in the last few months and incredible growth we should not be surprised that people show greater interest for BTC than for gold.Through history gold always had its value and so it is today,but in the digital age BTC becomes digital gold,available to everyone around the world.The average user who has internet access and little knowledge BTC is more affordable and more desirable asset then gold.It's easy to transfer and store,it can be used as payment or commodity and becomes more and more popular.Everybody wants to join this train and have at least a fraction of the digital gold.

[Lancusters]

This is not surprising. Bitcoin brings a good income now. Easier to use than gold. Bitcoin has a multi-bit system and, therefore, to buy a piece of bitcoin everyone can afford. All this makes bitcoin more attractive. The price of any commodity is determined by the confidence and desire to have it. All of these factors in favor of bitcoin.

[gentlemand]

I have never met one single person in my whole entire life who owns gold as a form of investment. Not one. Ergo this is not surprising to me.

The time to get a real boner is when the same searches are coming out of the White House.

[CryptoBry]

Bitcoin is meant to be the digital version of the physical gold though there are differences in their traits specifically on the issue of volatility as the real gold is more stable that is why it eared the enduring title as the safe haven especially in times of distress and crisis. Right now, Bitcoin is proud to be the official disruptor of the real physical gold as more and more investors are focusing their eyes and resources for the king of the cryptos. Well, no one can blame them as investing in Bitcoin can mean more returns and who would say no to bigger profits, anyway?

[leonair]

My parents own a gold necklace, earrings, watches and they always said that it will last long and the price of it will forever increase as time passes by because gold never depreciate so this kind of investment in gold is fine but there are people that can't buy a fraction of a gold just like with Bitcoin and I think there are only a few individual that can buy a legitimate 1 ounce of Gold then hold it for long term. Bitcoin is a trend now because anyone can but it for as long as they know how to buy it and they have a money to buy it plus the fast return of investment in just a short period of time attracts people comparing to Gold.

[1Referee]

I have never met one single person in my whole entire life who owns gold as a form of investment. Not one. Ergo this is not surprising to me.

It depends on who you are surrounding yourself with. I know enough people who hold Gold bars/coins in various weight categories as an investment, and store of value at the same time. Regardless how non functional or nonfunctional Gold has been in both aspects, which of course also depends on the time frame, there are still quite some people going for Gold these days. It has more to do with people actually looking to either use Gold to hedge fiat, or perhaps even as a tool that will allow them to transact in times where fiat holds no value anymore. This isn't something the overall public isn't worrying about, which might explain why Bitcoin enjoys far more popularity when it comes to search results.

[gentlemand]

It depends on who you are surrounding yourself with. I know enough people who hold Gold bars/coins in various weight categories as an investment, and store of value at the same time. Regardless how non functional or nonfunctional Gold has been in both aspects, which of course also depends on the time frame, there are still quite some people going for Gold these days. It has more to do with people actually looking to either use Gold to hedge fiat, or perhaps even as a tool that will allow them to transact in times where fiat holds no value anymore. This isn't something the overall public isn't worrying about, which might explain why Bitcoin enjoys far more popularity when it comes to search results.

The wrong and broke ones obviously, and perhaps there are a few out there who very sensibly won't admit to it.

Gold certainly has its place. It is strange how little impact it has on public consciousness in the West compared to places like India. I guess we're insulated from what gold represents to others.

[wilhb81]

I have never met one single person in my whole entire life who owns gold as a form of investment. Not one. Ergo this is not surprising to me.

The time to get a real boner is when the same searches are coming out of the White House.

Same with you, the majority of the people I know didn't have big interests in gold. Instead, they're having more interests in Bitcoin and other cryptocurrencies, which is quite surprising me indeed. 

[Benezim]

I dare say:

All people who want to invest in Bitcoin use google

Not all people who want to invest in gold use google

Still good news to me, Bitcoin is raising more public interest than gold in the internet savvy investor group

[hatshepsut93]

I have never met one single person in my whole entire life who owns gold as a form of investment. Not one. Ergo this is not surprising to me.

The time to get a real boner is when the same searches are coming out of the White House.

There's a lot of barriers for buying gold or even getting into stocks, so it's more of a thing for the middle class and the rich, while with Bitcoin you can invest even tiny amounts and pay relatively small fees. Sadly, a lot of people who are not familiar with Bitcoin think that you can only buy one whole coin and that it became too expensive for most people. So, lets hope that there are some good results on "how to buy Bitcoin" in Google that explain all the details, especially about security.

[senin]

This is further proof that bitcoin is very popular among the population. And such that, against this background, the demand for gold is falling, which was never before. It seems that no one can stop this process, and therefore the states will have to reckon with this and recognize the crypto currency as a means of payment.

[Oo ako to]

It looks like bitcoin is the new gold for buyers. It glitters more in their eyes compared to gold. Who wouldn't want to buy bitcoin if they they will get their profits quickly? Gold is too slow in terms of price increase compared to bitcoin that is speculated to be more than $100k in the coming years.

[cr1776]

Of course it may be that people know how to buy gold, but not bitcoin.  Sometimes a simple answer is the right one. Ask Occam.

[Urbanbypas]

Bitcoin will soon replace gold as a material asset. People will show off their crypto-currency accounts.