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Author Topic: Bitcoin vs. Gold Prices  (Read 2274 times)
BobK71 (OP)
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May 04, 2018, 12:55:09 PM
Last edit: May 04, 2018, 01:06:38 PM by BobK71
 #381


Gold and Bitcoin (and cryptocurrencies in general) are two entirely different types of assets which serve completely different purposes. Crypto is for speculators, while gold (as well as other precious metals) is mostly for those who are looking to preserve their existing wealth. It could be said that gold is for those who already built their wealth while crypto for those who are yet building it.

Gold and Bitcoin are fundamentally similar in that they are both non-state-issued money, they both have more or less limited supply, and they both don't suffer from the destructive incentives of human-issued money.

So, as asset classes, they have fundamentally the same benefits and risks.  (Among the risks is that the elites have the incentives to suppress their value when possible, except possibly for Bitcoin, at this time, since Bitcoin needs to gain enough market capitalization to become a player at all.)  That said, Bitcoin's price is still a small fraction of gold, when comparing the same proportions of total supply.

Also, since much of the world's gold has likely moved from West to East, and Western central banks have likely drawn down their gold reserves during their decades of gold price suppression (remember the 1971 US default on gold was simply to avoid a total loss gold by the US government,) the West likely favors Bitcoin, while China and Russia favor gold, as non-state, reserve assets.

Another major difference is that gold is fundamentally a better safeguard of your savings against the long-term inflationary system set up by governments and central banks: if the elites want to suppress Bitcoin for whatever reason, all they have to do is to buy altcoins and sell bitcoins.  The only alt-gold is silver and new precious metals can't be created by writing code.

So take these factors into consideration when allocating your funds between gold and Bitcoin.  One thing is for sure: you need to diversify and own both.

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May 04, 2018, 12:58:49 PM
 #382

Each type has a different value and has different advantages. Although their risk is very high, they are very profitable for us. Gold is an asset, and a measure of value for the entire world economy. They are safer and the profit they bring is lower than BTC.
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May 04, 2018, 02:54:34 PM
 #383


Gold and Bitcoin (and cryptocurrencies in general) are two entirely different types of assets which serve completely different purposes. Crypto is for speculators, while gold (as well as other precious metals) is mostly for those who are looking to preserve their existing wealth. It could be said that gold is for those who already built their wealth while crypto for those who are yet building it.

Gold and Bitcoin are fundamentally similar in that they are both non-state-issued money, they both have more or less limited supply, and they both don't suffer from the destructive incentives of human-issued money.

Well, from my perspective, you make an erroneous assumption and draw conclusions based on wrong premises. Neither gold nor Bitcoin are money nowadays. Let's face it, money is defined by what functions it has in the economy. Gold has already lost most of these functions, while Bitcoin hasn't yet acquired them fully. Both gold and Bitcoin are just investment assets like many others out there, for example, real estate, land, stocks, etc. Each of these types of assets has limited supply, and they don't typically "suffer from the destructive incentives of human-issued money" (you can't print more land), but this is a prerequisite, a required quality for something to be a valuable asset.

In other words, this "fundamental similarity" is a shaky ground for comparison. It is way too general and broad.

Another major difference is that gold is fundamentally a better safeguard of your savings against the long-term inflationary system set up by governments and central banks: if the elites want to suppress Bitcoin for whatever reason, all they have to do is to buy altcoins and sell bitcoins.  The only alt-gold is silver and new precious metals can't be created by writing code.

So take these factors into consideration when allocating your funds between gold and Bitcoin.  One thing is for sure: you need to diversify and own both.

That depends on what you are looking for. If you are a conservative, "value" investor like Warren Buffett and his sidekick Charlie Munger and want to preserve the value of your capital, gold is the way to go (if you were to choose between gold and Bitcoin).
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May 04, 2018, 03:03:26 PM
 #384

There is a theory that western countries can lose their debt through bitcoin. Will they be able to control bitcoin in this situation? The only thing that elites can do is to allow and prohibit crypto-currencies. Bitcoin will definitely exceed the capitalization of gold with such development
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May 04, 2018, 04:29:46 PM
 #385

Gold and bitcoin are very poorly compared to each other. Now it's very profitable to make money in bitcoin, but it's best to partially withdraw the profit and convert it into either ordinary currency or gold.
 We can not be sure that bitcoin will grow in price for a long time, and not only grow, we also can not be sure that bitcoin will not fall to its original value in the near future. As for gold, we can be sure that it will always be valuable. This is one of the most significant and undeniable advantages of gold.
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May 04, 2018, 07:36:49 PM
Last edit: May 05, 2018, 10:42:31 AM by Hell-raiser
 #386

We see a pattern.  Gold basically holds flat most of the time, except for step-wise movements up ($35 to $300 to $1000.)  But each step up, or devaluation of the dollar, is accompanied by a big overshoot, followed by a big drop.  This overshoot-and-drop pattern also seems to hold with Bitcoin (and even more so with altcoins.)

Over the decades, we can formulate a theory *based on these numbers alone* that the dollar is essentially continuously devalued against gold, when the noise is taken out.   (And I won't explicitly speculate as to why the noise is there!)

This is not the case as I have already explained before. The rapid surge of gold prices (in terms of over the decades) is not actual dollar devaluation, depreciation, hyperinflation, and whatnot. It is an expectation of future events probably unfolding in that direction. So far these expectations didn't come true, and that accounts for the subsequent massive retreats of gold prices.

(BTW, we have to look at the pure price of gold in dollars, not 'inflation adjusted dollars,' as you call them.  If there's such an asset as inflation adjusted dollars, please let me know and I would love to own it!)

In my view, treasury inflation protected securities (so-called TIPS) cut it pretty close to being such an asset, at least as long as official inflation assessment is accurate. I know that you are going to argue over this point, but you can't fool everyone about inflation rates for any longer periods of time. If you mess with the numbers and cook the books, the errors would add up over the years until you can no longer hide real inflation numbers and then you are going to stand there tongue-tied making fool of yourself and your stats.
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May 04, 2018, 08:00:50 PM
 #387

In expensive terms, bitcoin might win away from gold. But about the stability and value of gold goods I think is superior. Most people like bitcoin because the price can rise quite high in the not-too-distant future. While gold takes a very long time in the addition of value prices.
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May 04, 2018, 11:17:03 PM
 #388

Bitcoin and gold differs in one another just because Bitcoin as an investment is done through internet access and when you invest in it it is a risk because you don't know what will happen to your money while gold as an investment is a material you can see it and hold it and you had no fear if loosing it .

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May 04, 2018, 11:22:02 PM
 #389

bitcoin compared to the current price of gold is really very different, bitcoin price reached nearly $ 13k times more than the current price.


Bitcoin won’t replace gold. They have a different purpose. Gold is used for ornamentation due to the inherent properties,  and it provides such as malleability and shine. While bitcoin does not offer ornamental advantage. However it might be true that the price of BTC is predicted to hit less than $100 in five year because  thebhigh volatility of bitcoin price. Bitcoin investments is more volatile than gold investments and the risks involved with gold investments are way less than those involved with bitcoin investments which is why gold appeals to people more. They know that even if the percentage of ROI is much smaller compared to that of bitcoin, their money are more safe because bitcoin price is obviously more volatile.
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May 06, 2018, 08:52:53 AM
 #390

Bitcoin is believed to be the new gold of today. But the only difference between the prices of these two entities is that gold's prices are stable compared to bitcoin's volatile that rises and falls drastically any time of the day.

Two objects are equally implied because both are obtained by way of mining or mining. As we know, gold mining has been done for centuries and is derived from crops. While bitcoin mining is done digitally that is through solving a series of mathematical problems (puzzle) based on certain difficulty level.
But you need to know that gold trading and bitcoin trading is very different in terms of price transactions. Gold and bitcoin can both be traded online. Determining bitcoin prices tends to rely on speculation. While gold, there are fundamental factors that affect the movement of gold prices. But physical ownership, like physical gold, becomes one of the advantages for gold. This is what makes gold a valuable asset for centuries and its ever-growing value.
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May 06, 2018, 10:04:43 AM
 #391

Bitcoin and Gold prices are very different. We can not equate between Bitcoin and Gold. Maybe everyone can believe in Gold but not everyone can believe in Bitcoin. Bitcoin still sounds very foreign while Gold is already very well known throughout the country. But if for me the most profitable is Bitcoin. This has been very proven.

It is not about beliefs and personal preferences as such. Bitcoin is more like stock, any way you look at it. And it's not like blue chips where the stocks of IBM, Apple, Microsoft, and their likes truly belong to, but more like second-tier stocks where not so firmly established companies fit into. In this aspect, altcoins (well, most part of them) are just trash or junk stocks which are here today but gone tomorrow. Gold is a completely different animal which is entirely alien to these beasts, which lives in a completely different environment.

People should understand that most if not all comparisons between gold and crypto are meaningless because they are based on inconsistent criteria, for example, profitability and reliability.
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May 06, 2018, 10:16:30 AM
 #392

If we compare the price of course I prefer bitcoin, bitcoin price can rise hundreds or even thousands of percent per year while the gold price only rose not more than 20% per year, but for security reasons then I will share my money for gold and bitcoin.

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May 06, 2018, 10:25:40 AM
 #393

Yes, Bitcoin is supposed to be big money with many well-known investors, many of whom are involved in Bitcoin waiting for the price to rise in the bull market. At present, investment in the gold market is not as volatile as Bitcoin. Many people choose the gold investment.

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May 06, 2018, 10:28:14 AM
 #394

If we compare the price of course I prefer bitcoin, bitcoin price can rise hundreds or even thousands of percent per year while the gold price only rose not more than 20% per year, but for security reasons then I will share my money for gold and bitcoin.
By comparing it they have both own unique properties that we don't considered. In prices, bitcoins can make huge difference in inflation and it has a higher rate of risk of manipulation and prone in dumping so the volatility of price can chanhe from time to time. Gold was still on growing with a stable price rise movement that we can noticeably see the the big difference in both prices.

 
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May 06, 2018, 10:58:09 AM
 #395

Bitcoin is the medium of modern trading. It's price increases and decreases. Investing at a lower price increased up to a few times.
Gold is more used used in decoration. It's price decreases, leads to if the price increases. It does not grow too much. I think, bitcoin investment can be of much benefit to gold.
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May 06, 2018, 01:51:56 PM
Last edit: May 08, 2018, 06:07:35 AM by Hell-raiser
 #396

I am a bit confused about the whole idea. Why would bitcoin be a part of the monetary engineering thing for any of these countries when it was not even made or invented to do this tasks? Is this just an analysis of yours trying to connect things or you do really have proofs for that statement. Or is this just all coincidence. This is not even under the government control so how can one country benefit from it?

That is totally understandable.  A country's government can benefit from Bitcoin by holding a lot of it and using its holdings to ensure its own currency doesn't drop too much in value against Bitcoin.  (This is assuming Bitcoin has gained widespread trust as a good store of value.)

This could hypothetically work out for smaller countries or countries in a dire economic situation such as Venezuela, Zimbabwe and other countries where local monetary systems have already failed (Zimbabwe) or are in the process of failing (Venezuela). Bigger and more powerful countries don't need that since they have enough power and economic as well as administrative muscle to force the use of a national currency onto the masses as long as they themselves pursue sane economic and monetary policies with inflation rates bridled.

State issued currency is being inflated all the time, because of the incentives for the elites to issue more money and debt.  From the elites' point of view, it's better to have a non-state money be the support for their issued money, in this way.  This is the entire reason for having hundreds of years of modern history under gold or silver standards.  (A stable gold/silver standard was the 'best' environment for the elites to skim off the cream of the economy by issuing money and debt.)

This is not the real reason behind gold and silver being used as money back in the day. The true reason is that states were weak then, rulers were often overthrown as a result of warfare or intrigue, and thus nobody would use paper money when it was guaranteed to lose all purchasing power in a couple of years, not even the kings themselves. Paper money, and especially paper money not backed up by anything (aka fiat) is an attribute of a powerful state.

You seem to be overwhelmed (bordering on obsessed) with conspiracy theories.
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May 06, 2018, 08:53:02 PM
 #397

Gold is far better than volatile btcs. The former is physical portfolio that assures investment benefits but not like thos virtual cryptoz

Yes, you should be content with 10-155 annual return with your gold while we make that much in a day. It is funny to see people still sticking to gold or other traditional investments.
If you will buy more than this even then you won’t earn high with bitcoin so it is the good to buy bitcoin instead of gold, People are not really aware of it that gold investment is now an old fashioned investment which consumes more investment but gives small profit; it is good to buy bitcoin only and earn high profit than any other investment.
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May 07, 2018, 08:28:31 PM
 #398

But the time has changed and bitcoins have became much more expensive than even gold and platinum
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May 08, 2018, 05:36:19 PM
 #399

Although bitcoin price is more expensive than gold but gold in paired with bitcoin to make long-term investment, but now people prefer to measure because most people do not know full bitcoin and also about the price of more stable gold, so people choose gold
Bitcoin price can became more expensive over than the gold price, and i think a lot of people will surely choose to invest with bitcoin because even the the value of it is not stable, but the value of it can be very high in the future.
Bitcoin now days is going very stable between few dollars and that is why the market is normal and all the processes are going normal we are observing  only little jumps and nothing more. It made easy for people to take their decisions to buy at this time, in other sense the coin is giving some more time to people that for investment the time is still available but soon it is going to fly. On the other hand gold has remained stable and this stability gets out one factor but the profit is low as compared to that from Bitcoin.
No doubt in these. I have different opinions than other people about bitcoins and gold. We can’t just compare them. Bitcoins aren’t the kind before gold and so is the gold before bitcoins. These both are kings in their own world. But here, if your priority is a safe hand gaming where you may get low but less risky profit, then gold is best. And in other case, for big profits with her risk, bitcoins are amazing.

Comparing Bitcoin price with the prices of gold, you can always visit the site that gives you the best information about it: https://goldprice.org/cryptocurrency-price/bitcoin-price
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May 08, 2018, 05:42:45 PM
 #400

The price of gold and bitcoin prices may be equally valuable and equally valued, even though both are worth more of the price of bitcoin fluctuating than the relatively stable gold price and even so the bitcoin price is very rich more than the price of gold today still relatively cheap.
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