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Author Topic: Why people says gold is better?  (Read 10849 times)
akram143
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November 20, 2017, 05:04:59 AM
Merited by MrZ28s (2)
 #1

Actually today I watched a video on facebook which is about spending bitcoin and gold in USA,it says it is difficult to spend bitcoin but some places are accepting bitcoins accepting as payment like supermarket,restaurants and some institutions.But no one accepting gold as payment then why still people says gold is better?

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November 20, 2017, 06:01:33 AM
 #2

Gold has been the standard currency since the beginning of time. Paper money and shares of stock would be rendered useless in times of war. In ELE or Extinction Level Events, even bitcoin would be useless. Have you seen Doomsday Preppers? Gold is the standard.

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November 20, 2017, 06:07:53 AM
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I do not know why they say gold is better than bitcoin, while bitcoin transactions are spreading in their midst.
My speculation, maybe they do not know bitcoin or do not know how to use bitcoin, when in fact they admit that bitcoin is better than gold.

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November 20, 2017, 06:09:25 AM
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Actually today I watched a video on facebook which is about spending bitcoin and gold in USA,it says it is difficult to spend bitcoin but some places are accepting bitcoins accepting as payment like supermarket,restaurants and some institutions.But no one accepting gold as payment then why still people says gold is better?

The most probable reason i can think of about why people say gold is still better compared to bitcoin is the fact that gold has form. It's physical, tangible and precious that has been around for the past several years. Bitcoin on the other hand is still quite new and i bet if you asked any random stranger on the street a about bitcoin, i can say that not many will be able to know about bitcoin(as what i have experienced). Try to see both like this: Think of a doomsday/apocalypse like scenario. Since gold is physical, it will still be there whereas bitcoin being digital, will disappear with technology.

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November 20, 2017, 06:15:44 AM
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Because store acceptance isn't the only factor that's put into consideration. If we're talking about being better as a currency, then Bitcoin is better, because gold can't really be considered as such. Bitcoin, on the other hand, is a currency that functions very much like a digital version of gold.

Gold can be considered better if taken a look at for its stability. Gold has been around since pretty much the first civilizations, and it has always been valuable. It also has inherent value as it can be used for accessories, jewelry, and even electronics.

My personal opinion is that they shouldn't be compared, but people always find ways to say something is better over the other.

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November 20, 2017, 06:17:25 AM
 #6

It is partially a nostalgia that's dates back to the days fiat currency was backed with gold. People long for something physical to represent their monetary success, and it used to be symbolized by a shiney yellow precious metal called gold. Old habits die hard, gold brings back memories of the old days and comforts people in the sense they have something physical to represent their efforts. Bitcoin is the future.
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November 20, 2017, 06:18:23 AM
 #7

The spending is not the real issue here. If you walk into any shop now and you offer people Gold as a payment option, then they will not accept that. < They do not have the knowledge or equipment to test it or to weigh it and to figure out what it is worth > Yes some Pawn shops might exchange it for cash, but they are the exception.

Bitcoin is also not the most ideal "payment" option, because there is still some scaling problems and not all merchants know about Bitcoin yet and their systems might not be ready to process it. <They can use payment processors, but they will have to register with those services first>

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November 20, 2017, 06:24:18 AM
 #8

it is changed in the past people were believing that gold is universally acceptable asset and stable in the world that’s why people become very attached with gold. in the modern time people are saving their money into the investment and they are earning good amount on this investment.

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November 20, 2017, 06:28:12 AM
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Because 50% of all people have IQ lower than 100.  Undecided

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November 20, 2017, 06:28:35 AM
 #10

Actually today I watched a video on facebook which is about spending bitcoin and gold in USA,it says it is difficult to spend bitcoin but some places are accepting bitcoins accepting as payment like supermarket,restaurants and some institutions.But no one accepting gold as payment then why still people says gold is better?
Gold will still be a valuable item. If gold can not be used in everyday financial transactions then it is a normal thing. we can not possibly use gold to buy a chocolate in the supermarket. it is very difficult to find a gold standard. that's what distinguishes it from Bitcoin, although Bitcoin has a much higher value today but bitcoin is very mobile because we can use Bitcoin for transactions on a small to large scale.

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November 20, 2017, 06:35:28 AM
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Gold is a valuable metal, you can trade gold in every country and gold can be make into jewellery and other things, gold has been existed for a very long time and atill consider as one of the valuable things by all people, this indicates that gold is very suitable for a long term and there are not many fluctuations in gold, the rising is very stable

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November 20, 2017, 06:43:18 AM
 #12

Bitcoin was only emerging in recent years. It was almost a year before the concept of high value in digital currency was approved by the people in the transaction. Gold has a longer cognitive process than BTC, and BTC is not widely available at the moment, perhaps with time to prove it all.

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November 20, 2017, 06:47:31 AM
 #13

Actually today I watched a video on facebook which is about spending bitcoin and gold in USA,it says it is difficult to spend bitcoin but some places are accepting bitcoins accepting as payment like supermarket,restaurants and some institutions.But no one accepting gold as payment then why still people says gold is better?

Because in the USA bitcoin was adopting already in many store, supermarkets and many establishments who have a modern technology accept paying bills by bitcoin process not like gold you need to test whether gold or not only at pawnshop have that not in department store or exchange into fiat.
Still gold has a good valued price like bitcoin but you cannot have transaction on gold from small to larger scale. Unlike bitcoin you buy 1 can of beer if you want.
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November 20, 2017, 06:56:42 AM
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Gold is a valuable metal, you can trade gold in every country and gold can be make into jewellery and other things, gold has been existed for a very long time and atill consider as one of the valuable things by all people, this indicates that gold is very suitable for a long term and there are not many fluctuations in gold, the rising is very stable

In case of a horrific event, Gold would not be so stable anymore. Gold is considered the best out there because, first of all, you can use it without requiring an internet connection.. But it obviously has pros and cons: you can use it offline but not online, you can hold it in your hands but you can become the target of a criminal, you can touch it but it weighs a lot, etc.

I believe in BTC because of the technology it comes with. It's obviously not perfect, nor is Gold. People over 30 are usually going to prefer buying precious metals rather than a virtual currency. However, if the WW3 won't begin soon... then BTC is the future.
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November 20, 2017, 06:59:47 AM
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Actually today I watched a video on facebook which is about spending bitcoin and gold in USA,it says it is difficult to spend bitcoin but some places are accepting bitcoins accepting as payment like supermarket,restaurants and some institutions.But no one accepting gold as payment then why still people says gold is better?
Gold cannot be cutted into pieces, so its hard to accept or spend in any hotels as it is illegal to have much gold. Gold can be traded in any country and the value remains constant so people believe Gold is better, but it is hard to carry anywhere as the robbers are their.
Bitcoin will be available in most countries once it is legalized, but takes more time so gold is better than Bitcoin.
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November 20, 2017, 07:01:11 AM
 #16

Bitcoin and gold both are not comparable both are different in it category itself. Gold is precious metal and ornament Bitcoin is cryptocurrency so don't confuse yourself. Bitcoin can be used as investment giving good multifold returns where you hold your investment in gold it wont appreciate like bitcoin returns.

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November 20, 2017, 07:03:19 AM
 #17

Actually today I watched a video on facebook which is about spending bitcoin and gold in USA,it says it is difficult to spend bitcoin but some places are accepting bitcoins accepting as payment like supermarket,restaurants and some institutions.But no one accepting gold as payment then why still people says gold is better?

because, when the war or something (SHTF) hits, you will be able to get a life saving meds or transportation or just food for gold. And nobody will accept bitcoin then

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November 20, 2017, 07:11:19 AM
 #18

I can't see how the gold can be better than bitcoin...
They are two different things, bitcoin is a digital cryptocurrency, and can make you rich fast
Maybe for someone gold is better than bitcoin because you have and can touch your gold, and bitcoin is digital Smiley
But i think that bitcoin is better than gold.
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November 20, 2017, 07:15:53 AM
 #19

Actually today I watched a video on facebook which is about spending bitcoin and gold in USA,it says it is difficult to spend bitcoin but some places are accepting bitcoins accepting as payment like supermarket,restaurants and some institutions.But no one accepting gold as payment then why still people says gold is better?
If we compare both Bitcoin and Gold and which is better, it doesn't mean that if one of them is easier to spend and which is accepted by stores and restaurants it is better. Bitcoin is created to be a currency that is why some stores accepting it but since it isn't widely used there still few who accept it as payment, while gold is a precious metal and a good store of value but you cannot use it directly to pay for restaurants and markets because they can not quickly check whether this is authentic or not. There are still lots of things to consider before deciding which one is better, it may be easier to use bitcoin to pay for things but gold is better when it comes to store of value.
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November 20, 2017, 07:16:32 AM
 #20

they say that because the introduction of digital currencies is not so well digested, and usually people like them can only or believe in investing in gold, which they consider to be profitable in every year, whereas if they invest in bitcoins other than the ease of transacting bitcoin can provide an advantage at all times,,but they do not know that

Bitcoin and gold both are not comparable both are different in it category itself. Gold is precious metal and ornament Bitcoin is cryptocurrency so don't confuse yourself. Bitcoin can be used as investment giving good multifold returns where you hold your investment in gold it wont appreciate like bitcoin returns.
they are juxtaposing bitcoin and gold as a place to invest .. not as an asset ,, both can say where investing .. but only differ in profit, bitcoin is more flexible while gold is more stable
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