Bitcoin or gold? Maybe both at the same time

[HarryFlashman]

Hi everybody,
Love Bitcoin but recent events got me very worried about present and future. I read all posts on this forum about gold and concluded that for having things safe I must get backup in gold and silver. So I searched all gold dealer sites and they are pretty much the same thing across the board. Then I found something that may be a winner. Different than others it looks like those guys merged best of digital currency and physical gold, http://www.buy-gold-bar.com

First of all they are Canadian company and I live in Canada so it gives me a good vibe. Secondly they are brick and mortar establishment and they do answer phones and e-mails. They have smart card system called SmartGold Club. Basically you join the club, buy card and get gold and silver loaded into the card. That digital gold is backed up by physical one. No paper shit certificates. Whatever you send they buy fine gold/silver. Here is something what I really like. That physical gold is stored in Cayman islands in some Strategic Wealth Preservation secure storage. It's like a vault. I mean it is the vault.

So my first question is what would you buy gold or silver? I am thinking both. Gold is like no brainer but many videos on Internet say that silver is badly undervalued and has huge upside. What do you think? I am thinking 60% in gold and 40% in silver.

In regards to club card it reminds a lot of Bitcoin. It's all digital, encrypted, biometrics and what not. I should be able to buy, sell, trade with other members, send to distance, get gold bar if I want to.

I mean, thanks to BTC I got now nice chunk of value. It came in really easy, no complaints  . I am thinking about converting maybe like 30%-40% into gold. It's safe. They take Bitcoin payments over Bitpay. Account is anonymous, that's good as well. I'll start with 0.5 - 1 BTC 

What do you guys think about all that?

[1715591047]

1715591047

[1715591047]

1715591047

[ghostunicorn]

Gold has been a favourite physical asset of the investors. This is a reality, and when comparing bitcoin with gold, gold may look much better. Actually, bitcoin's good aspect it that it provides more income compared with gold's. With bitcoin you can make multiplication of your initial capital, but with gold, you cannot do this.

[teilwalL05]

There are some possiilities of an ups and downs with gold, silver and bitcoin all you need to do is to know and learn all of this things and I think there are ways in learning each assets security purpose, you can sure make investments with both bitcoin and precious metals at the same time with gold in it's physical form you will need a big solid storage, and for bitcoin that are digital need a wallet that have a private key for more security reasons

[The Sceptical Chymist]

Gold is a horrible investment.  The price is probably going to stagnate for decades, like it usually does.  If you're looking to preserve the purchasing power of your fiat, that's fine, but if you're looking for a serious return on investment, gold sucks.  The only people who likely need gold are the super rich.  The rest of us need to make money, myself included.  I do own some gold & silver, but I'm well aware that I'm not going to make much of a profit on it.  I just like coins and metals and that's why I bought the stuff.

I'm tired of the bitcoin/gold comparisons and what have you.  They're totally different.

Bitcoin is where it's at right now.  Metals are stuck in a rut and I don't see that changing any time soon.

[senin]

Gold, as a rule, protects savings only from inflation, but practically no income brings, or it is minimal. Investing in bitcoin is still making a significant profit and, perhaps, for a long time will bring it. However, investing in bitcoin also involves certain risks, since this currency is digital, depending on the availability of working technologies, which may simply disappear. Or, for some reason, people will massively discard bitcoin and it will almost immediately lose its value. With gold this can not be. Therefore, along with investing in bitcoin about 70 percent to 80 percent, I would recommend storing some cash in more traditional assets such as gold.

[HarryFlashman]

Senin I like your explanation. That is kind of in line what I was thinking. I see that gold is flat for long time but watching Youtube videos it looks like it will move up soon. Saudi Arabia and other OPEC countries don't want petrodollar and will sell oil for Yuan or Euro, 20+ Trillion US debt. There is now petro yuan backed up by gold. Also Russia and China hoarding gold. As countries dump USD it will cause drop in value. Besides that Fed prints money day and night for last 9 years. Everybody and his dog knows that leads to hyperinflation. Gold will rule in inter countries trade.

I am also wondering what will happen to BTC when USD goes down the pooper? Exchanging 20% - 30% of BTC for gold sounds like good insurance policy.

[cryptorami]

Both are valuable for a long time.

[wilwxk]

Yes. Bitcoin and gold ae both excellent to use as a reserve of currency, but you will need pay more attention in your bitcoins, because the technology is changing everytime and you should keep up with, while the gold has less problems about because the only problem with your gold will be the rate of the exploration of the gold.

[vltnqefi]

For thousands of years, gold has been the favorite investment of businessmen, because it is popular in every country on earth and can be converted into commodities at once.But bitcoin is far less liquid than gold.But in the future, the development of the Internet, I think, bitcoin must be more suitable for investment than gold.