Vitalik Buterin: I agree that Bitcoin is better than gold

[MovieChain]

Vitalik Buterin (V-God), the founder of Ethereum, said on Twitter that “Why is Bitcoin better than gold?” — I actually agree with this, Bitcoin is better than gold, both personally and socially. I used to talk about Bitcoin's damage to the environment. But gold is even worse.

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[Xester]

Vitalik Buterin (V-God), the founder of Ethereum, said on Twitter that “Why is Bitcoin better than gold?” — I actually agree with this, Bitcoin is better than gold, both personally and socially. I used to talk about Bitcoin's damage to the environment. But gold is even worse.

Vitalik Buterin really loved bitcoin because of economic reasons. If bitcoins value will go up then Ethereums value will also go up. At this point of time the value of bitcoin dictates the value of all cryptocurrencies listed on the coinmarket.cap. Thus if bitcoin will go up in value it will be like heaven to all crypto enthusiasts since it will mean a green market and profit to both developers and investors.

[resistanx]

The gold's risk of losing is greater than the bitcoin, and gold can only be sold at certain times and even then sometimes the price is very far below the purchase price.

[avikz]

I personally think bitcoin is not better than gold, not at least now! If I exclude the other uses of gold like making ornaments, still gold is an excellent investment choice for capital protection. That is the reason why you will see gold price goes up every time, when the stock market crashes. because investors trust in gold and move their funds to that asset just protect their capital investment. Bitcoin has not yet replaced gold in that and I doubt it will ever happen. Bitcoin's price is highly dynamic in nature which makes it an excellent choice for the speculators. But when it comes to capital protection, bitcoin doesn't even stand in the queue.

[aisyah88]

It's true that bitcoin is better than gold, many people prefer bitcoin, probably because bitcoin and bitcoin growth are getting more and more rapidly, and every month it keeps growing, so it's no doubt for anyone who wants to invest in bitcoin, always get a very lucrative advantage bigger than holding gold ...

[aoihs00]

Vitalik Buterin (V-God), the founder of Ethereum, said on Twitter that “Why is Bitcoin better than gold?” — I actually agree with this, Bitcoin is better than gold, both personally and socially. I used to talk about Bitcoin's damage to the environment. But gold is even worse.

Not sure if he really said that one or not but it doesn't look like gold is bigger damage to the environment itself. Never thought of this comparison before but its worth thinking about it. I mean truly we keep saying that bitcoin using the huge electricity in terms of the mining operations which are needed for the existence of the same. Later on we also started to think that bitcoin is responsible for the global warming due to its mining operation and the heat that it produces!! I mean thats the worst case we have thought about the bitcoin. But truly if you just see the documentaries about the Gold mines and rigs then we will understand that is even huge cost involved and polluted operation ever.  

So I am pretty sure we need to re-think about the bitcoin and gold and which one is better for the environment.

[ivakar]

I think in some terms bitcoin is clearly better then gold,  for example bitcoins can be stored or traded by general public, while gold ( not jewelry)  is prohibited to trade in many countries..
in other way, gold will not disappear if internet is gone, while bitcoin would.

[idgaf007]

Vitalik Buterin (V-God), the founder of Ethereum, said on Twitter that “Why is Bitcoin better than gold?” — I actually agree with this, Bitcoin is better than gold, both personally and socially. I used to talk about Bitcoin's damage to the environment. But gold is even worse.

Yes I agree that bitcoin is better in a lot of ways but can easily be misunderstood by alot of people because it is not tangible and for the people who do not know the technology behind bitcoin they can only see it as random numbers in the computer. Environmental damage is a different story I agree with you with the damage mining bitcoin can cause.

[orions.belt19]

I personally think bitcoin is not better than gold, not at least now! If I exclude the other uses of gold like making ornaments, still gold is an excellent investment choice for capital protection. That is the reason why you will see gold price goes up every time, when the stock market crashes. because investors trust in gold and move their funds to that asset just protect their capital investment. Bitcoin has not yet replaced gold in that and I doubt it will ever happen. Bitcoin's price is highly dynamic in nature which makes it an excellent choice for the speculators. But when it comes to capital protection, bitcoin doesn't even stand in the queue.

Most people would prefer gold over bitcoin for now because they are more familiar with it and it's said to be more secure. Also, the price of bitcoin is more stable as compared to bitcoin's, which scares most people into considering it as an asset. Especially for those who are traditional and not so open to what is foreign and new to them, they would rather opt for gold over bitcoin despite the said benefits of bitcoin over gold.

[gentlemand]

Where is his endorsement of Bitcoin over gold? That sentence reads like a whine.

I've no time for gold myself. I think it's stupid and shit. But the rest of the world does and that's what counts. Step out of the echo chamber and take a look around. Future generations may care much less about it, but that's not the case for now.

And asteroid mining as a threat to its value? Get real.

[jcojci]

bitcoin is better than gold and I agree with him. bitcoin can be carry without having worry from being stolen because we can save bitcoin in an android phone or just in flash disk. it is so simple for us and we can carry without any people know that we have bitcoin with us. but unfortunately, the price is not stable as a gold and the price cannot predict.

[andreevaviktoriy77]

It is very difficult to compare such things at all because gold can be sold at a certain time allocated in this time interval and bitcoin randomly jumps up then down.

[boy130]

Does he elaborate on how gold damages the environment, when before we touched it, it was simply part of the environment?

Let's not forget, gold has many more uses other than just as a precious metal for jewelry, it's used as a conductive surfacing agent, as a catalyst and for purification techniques.

I would say Bitcoin is not better than gold overall, but in terms of usability as a currency, it certainly is.

[Reid]

I am sure that is not how he use English right?  Maybe he just rephrase it after reading it somewhere.

But for the sake of this discussion, I would like to agree that bitcoin is better.
Let us make real questions about gold. What are its usage? The actual ones? It was made to be valuable because of its shine. They say it is hard to mine it now but I bet it was just scattered in plain sight before.
They just kept most of it and Voila! it is valuable.

We could do the same with bitcoin. HODL most of it then look at it now. But we should really look at the usage afterwards. It should not have the same fate as gold did. Not just as investment.

[Cimmy_revenger]

Bitcoin is digital gold revolutionary .
I consider this Bitcoin is gold in a digital form whose existence is limited as gold.
bitcoin is a great barter tool for inter-state without going through a central bank.

[Sexie]

Vitalik Buterin (V-God), the founder of Ethereum, said on Twitter that “Why is Bitcoin better than gold?” — I actually agree with this, Bitcoin is better than gold, both personally and socially. I used to talk about Bitcoin's damage to the environment. But gold is even worse.

As Bitcoin  is better through internet,then gold is better underground .Bitcoin can be digged through gadgets and through internet by your  own skills. And that gold can found it underground for How many miles from the surface of the earth. A lot of hardwork before you can find gold as Bitcoin as well. They can both damage  the environment , as gold damaged the earth and Bitcoin can damage human , by getting  obesity because of too much spending time in the computer and  eye defect  with  too much spending time with your gadgets .

[drm]

I agree with him, it's just that not enough people see it...yet.
But good things come to those who wait and predict correctly.

[Kotone]

Vitalik Buterin (V-God), the founder of Ethereum, said on Twitter that “Why is Bitcoin better than gold?” — I actually agree with this, Bitcoin is better than gold, both personally and socially. I used to talk about Bitcoin's damage to the environment. But gold is even worse.

If the point of argument is its effect to the environment then I think you can make a case that bitcoin is much more better environmentally than gold. With gold there has been reported of poison in the water especially on the operations neccessary to dig up the gold and in cleaning it. While in bitcoin though it kight have some effect it still does not have the chances of you getting another poisoned or worse killed and you dont strip a mountain or land to get it.

[biascoin]

What is he going to say... but actually, Gold is a PHYSICAL material, is not all about money.

[tora]

If you are an investor in gold it is doubtful you will be able to buy at wholesale unless you buy gold coins. With bitcoins everyone can buy at same price with no dealer mark up.