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Author Topic: Bitcoin, Gold or Money?  (Read 791 times)
MasterCoinBit
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November 16, 2018, 09:33:41 AM
 #1

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
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November 16, 2018, 11:01:50 AM
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You're right, bitcoin's deflationary nature means that present spending is more expensive than future spending. Therefore from an economic point of view it is not useful when it comes to stimulating an economy. Also similarly to gold there may come a time where bitcoin is steadily increasing but only at a slow rate, therefore there won't be such a trade off between present and future consumption.

There is also one thing that people always assume when stating that bitcoin value will always rise, and that's that demand will continue to increase. If demand remains static or falls then the price won't increase over time.


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November 16, 2018, 12:25:07 PM
 #3

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
yes, bitcoin is like gold, but it is very different because the value of bitcoin fluctuates and gold is stagnant, I also think that bitcoin cannot be used like ordinary money because the amount is limited and its growing community will make its value continue to increase.
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November 16, 2018, 12:57:57 PM
 #4

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.

No,Bitcoin isn't "designed" for that.There's no guarantee that the bitcoin price will increase over time.
The price of bitcoin depends of the market demand for btc,there's no guarantee that the demand will rise.
The limited supply of BTC doesn't mean anything,because bitcoin can be divided into 1M satoshis.
Just read Satoshi's original whitepaper and don't ask questions that are already asked 1000 times.

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November 16, 2018, 01:06:01 PM
 #5

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.

In my situation right now Money because I don't have such in my hands right now. The second is gold since Gold is now worth something to hold for than with any crypto , and a lot of people are now using it. The third is crypto or Bitcoin.
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November 16, 2018, 01:18:17 PM
 #6

"Bitcoin or Money"? What does this even mean? Bitcoin IS Money. It is money that is not issued by central banks and backed by government. It is energy based and secured by mathematics. As long as you keep thinking about bitcoin as opposed to "actual money" I think you're still missing the point. Money is a technology that has specific goals. Storing value and exchanging it for goods and services. Bitcoin is able to fulfill these goals incomparably more efficient than both fiat and gold.

Bitcoin is The Actual Money.

Fiat is government issued numbers that can be used like actual money... until the country goes into hyperinflation because of the decisions of politicans and bankers... or until your bank, card company or payment service decides to block your account for any reason at all... and not before half of the fiat you earn is taken away from you through taxes.
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November 16, 2018, 02:03:02 PM
 #7

Bitcoin, gold and the third money is its use as an age tool now.in ancient times, ancient people did use gold, money as a price of buying and selling, but today's people only use paper money, coins, and digital like Bitcoin. maybe transactions on the internet are not the jurisdiction of any country.

gold, money is a conventional investment with slow growth and main obligations. Well, Bitcoin is investing a new style with fast growth and high.
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November 16, 2018, 02:10:40 PM
 #8

Although, bitcoin is like somehow like gold as the OP said because they are both a good investment which is why we see some project in the crypto sphere which combine crypto with gold in terms of keeping their investors profit intact. However, we must understand that they both have there advantage and disadvantage but I will definitely go for bitcoin every day.



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November 16, 2018, 02:13:37 PM
 #9

I can only choose satoshi because even an ounce of it have value and it makes a greater increase for the past few years than gold.

I suppose bitcoin will be more valuable  than money or gold in the long run just saying.

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November 16, 2018, 02:29:24 PM
 #10

yes, bitcoin is like gold, but it is very different because the value of bitcoin fluctuates and gold is stagnant,
Gold is one of the most liquid and developed markets in the world, of course it's stable/stagnant. Bitcoin is no match for Gold in that regard, where on top of that, it's an asset that has been around for thousands of years versus an asset that has been here just for a decade. Bitcoin needs time. It will be up there eventually.

I also think that bitcoin cannot be used like ordinary money because the amount is limited and its growing community will make its value continue to increase.
If you think in Satoshis, there is plenty of juice for everyone using Bitcoin, regardless of the price. Isn't it cool to have money that increases in value instead of fiat that keeps losing value?

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November 16, 2018, 02:35:23 PM
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If you think in Satoshis, there is plenty of juice for everyone using Bitcoin, regardless of the price. Isn't it cool to have money that increases in value instead of fiat that keeps losing value?
It isn't about being cool or not. It's that from an economical point of view, such a thing can make it ineffective as money.
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November 16, 2018, 03:12:12 PM
 #12

You're right, bitcoin's deflationary nature means that present spending is more expensive than future spending.
I'm no economist, but I don't believe that statement is true.  Yes, bitcoin is limited in number, but that's no guarantee whatsoever that it's going to keep increasing in price.  Hell, the purchasing power of the bitcoin I own has decreased by about 10% since last week, and I think altcoins have suffered even more.

But won't that make it more like gold instead of actual money?
The comparison of bitcoin with gold has been discussed to death already.  They're two very different things, and their markets behave very differently.  At this point gold is a commodity, not a currency (though it used to be one), whereas bitcoin is a weird hybrid of a currency and an investment--and it's that investment aspect of it that keeps it from being stable like a true currency should be.

Isn't it cool to have money that increases in value instead of fiat that keeps losing value?
Yes indeed it would be cool if that was true.  I agree fiat will keep losing value, but I don't agree that bitcoin will keep gaining value.

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November 16, 2018, 03:17:42 PM
 #13

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
yes, bitcoin is like gold, but it is very different because the value of bitcoin fluctuates and gold is stagnant, I also think that bitcoin cannot be used like ordinary money because the amount is limited and its growing community will make its value continue to increase.
it's true because gold and bitcoin are almost the same but in terms of price it is very different to experience an increase, because bitcoin is if the more people use it, the faster bitcoin will increase

 
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November 16, 2018, 03:36:20 PM
 #14

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
Yes you are right that bitcoin is kinda similar to gold. But if im going to choose between the two I will prefer bitcoin investment. Tho gold is also better , bitcoin is volatile so I can earn huge profit from it. I know that some of you will also think the same way.There are a lot of people compare bitcoin to gold even if you can clearly see the difference with them.
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November 16, 2018, 03:54:50 PM
 #15

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.

This is a very good question and few people understand the nature and functions of money. You say that Bitcoin is more like gold than "actual money", but people forget that for hundreds of years gold WAS money. The fiat system that we have today only appeared in 1971, when Nixon ended the Bretton Woods agreement that pegged the dollar to the gold and every other currency to the dollar.

There is no problem if an economy uses a currency that is deflationary in nature. Quite the contrary, it will be best if everyone knows that their money will keep their value or actually increase in value. This will encourage saving, which is the only sustainable way to grow an economy. From a business perspective, you care about profit, or the difference between income and expenses. Even if your prices are forced to go down all the time, you can still make a profit if your expenses go down faster than the income.

Right now it is hard to imagine that prices for primary factors of production could fall faster than the prices of consumer goods, but it's just the reverse state than now. One big advantage over the inflationary system that we have right now is that there will be no more redistribution from the poor to the wealthy through a mechanism called Cantillon Effect. Basically those who get possession of newly issued money have an unfair advantage over those who get the money last, because they can buy the things they need at old prices, and the poor watch how their purchasing power dwindles and their income stays the same while every price increases.

This inflation if one of the primary reasons for inequalities in the world and why the wealthy stay wealthy and the poor stay poor. Get rid of inflation and the poor will get richer faster and the wealthy will not rise as fast as they do right now.
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November 16, 2018, 04:19:58 PM
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Quite an interesting thought regarding bitcoin and its current state. However one must remember that even before official financial institutions, organizations and firms existed, gold was around, was used as money in almost every country available and it, too is deflationary in nature. Bitcoin, while deflationary, still has the tendency to lose value in the short-term, and the long-term appreciation of value isn't guaranteed either, so assuming that bitcoin will always appreciate in price is already wrong. It's a usable form of money but not as excellent compared to fiat currency that we have today, but then again, it's easier and more convenient to use than gold as money since you have the hassle of carrying gold wherever you need to go and most shops would need to cut the gold precisely just to get the value that they needed. It doesn't offer easier divisibility unlike bitcoin and fiat currency, so again, gold would still be a worse form of money than bitcoin.

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November 16, 2018, 04:39:49 PM
 #17

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.

In this kind of life of mine I would choose Money above all three because I can surely use that to make and buy the things from the three choices.
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November 16, 2018, 05:52:30 PM
 #18

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
I do not agree with your reasoning. Bitcoin was not created in such a way, so that its price is constantly increasing. It was created as an alternative payment system to the existing payment systems. If Bitcoin will constantly grow in value, then it will lose its value as a payment system. What, in principle, is already happening.
Bitcoin has nothing to do with gold and it is useless to compare it with gold. These are completely different things and concepts.

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November 16, 2018, 07:27:02 PM
 #19

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.

Bitcoin like money is not very practical.It is rather a means of accumulation.Just think when Bitcoin mining will end, how much the commission will cost.
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November 16, 2018, 07:30:17 PM
 #20

My current stratedy is to look at the stocks, if they continue the downtred ( has a lower low) then I am seriously considering GOLD/SILVER.
The crypto market has suprised my with this last downfall and the behavior in general in correlation with stocks.

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November 16, 2018, 07:39:10 PM
 #21

Bitcoin is more like a gold. The operation of Bitcoin is liken unto the system be adopt by gold which price can fluctuate either on  a high side or low side. The usability of Bitcoin has not be realize to be use like the fiat currency and it supply is limited.
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November 16, 2018, 08:03:07 PM
 #22

All of that is very important and uses in different situations , but if we talk about the profit and  the uses bitcoin is very good . You can use to transaction such as trading , buying online , investment and many more. But don`t estimate gold because its good for long investment.
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November 16, 2018, 08:22:05 PM
 #23

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
Therefore bitcoin is not a currency but rather a valuable digital asset. If bitcoin is made into a currency then I don't think it will have a high value, but if bitcoin continues to be an asset like gold, I am very sure the bitcoin exchange rate will continue to increase even we know the price of bitcoin is higher than gold, maybe in the future not money that was replaced by bitcoin, but gold was replaced by bitcoin after many gold investors switched to investing in bitcoin.

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November 16, 2018, 08:39:20 PM
 #24

Investors' profiles of bitcoin and gold are very different and their expectations determine fluctuations. Comparing bitcin and gold makes no sense right now. Let's say that bitcoin value will always rise and it means that demand will continue to increase. The price of bitcoin depends of the market demand, there's no guarantee that the demand will rise and everything may change in a minute on crypto market.
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November 16, 2018, 11:01:01 PM
 #25

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.

In my situation right now Money because I don't have such in my hands right now. The second is gold since Gold is now worth something to hold for than with any crypto , and a lot of people are now using it. The third is crypto or Bitcoin.
Yes money is the first we want because this is we used every time we want to buy. But bitcoin can use also by cash it out then buy a goods. Gold is an popular one that the value its good and we can hold it for many years we want.
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November 16, 2018, 11:45:57 PM
 #26

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.

Bitcoin is not engineered to appreciate in value. It's supposed to hold its value in the long run.

In that case, then yes, bitcoin has many characteristics that gold also has as a store of value. The nominal value of bitcoin may go up in the long run but I believe that the purchasing power should remain relatively the same due to the fact that fiat is constantly depreciating.

And even though bitcoin is always inflationary, you're right about the fact that it'll reach deflationary status at some point due to lost coins outweighing the speed of new coins being minted at. I also agree with the fact that bitcoin is unlikely to replace fiat currency, but rather be used as an alternative and potentially serve a niche market of people who want to facilitate global transactions or simply want a safe haven to store wealth in. But I disagree that bitcoin can't be used as a currency simply because its supply is capped, I don't see that as a barrier.

 
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November 16, 2018, 11:48:50 PM
 #27

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
I totally agree with you. In fact, bitcoin should be used to store wealth the same way people keep gold as measure to store up their wealth.

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November 16, 2018, 11:53:14 PM
 #28

Way different that gold. See some threads here and it was discussed for like 50 pages and still would not come up with a better solution to compare the two.

I guess it will depend on the user. For me it is a currency. I have been using it to pay for my real estate monthly bill although it goes thru a third party company it is still cool that it is already that acceptable for them.

If one user looks at it as commodity then it will get a little deeper since we can see commodities now behaving like fiat also.

I will stay with bitcoin if someone makes me choose to the three that you have mentioned.

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November 16, 2018, 11:54:48 PM
 #29

yes, bitcoin is like gold, but it is very different because the value of bitcoin fluctuates and gold is stagnant,
Gold is one of the most liquid and developed markets in the world, of course it's stable/stagnant. Bitcoin is no match for Gold in that regard, where on top of that, it's an asset that has been around for thousands of years versus an asset that has been here just for a decade. Bitcoin needs time. It will be up there eventually.

I also think that bitcoin cannot be used like ordinary money because the amount is limited and its growing community will make its value continue to increase.
If you think in Satoshis, there is plenty of juice for everyone using Bitcoin, regardless of the price. Isn't it cool to have money that increases in value instead of fiat that keeps losing value?

Great post among others on this thread, simple to understand and positive for the future.
For the last 6 months or so i have been thinking about and adding both Gold and Silver
to my holdings to compliment my bitcoin and litecoin. What a great spread they all make.
Some which are proven as per 1Referee's post and the others with a positive future for
snyone who is interested. The rest can struggle on with FIAT.
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November 17, 2018, 02:22:32 AM
 #30

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
i will choose Gold as it is more stable and have good value.
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November 17, 2018, 02:29:45 AM
 #31

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
Gold and bitcoin is only similar with bitcoin in term of characteristics, bitcoin don't have intrinsic value but what makes it worth is the decentralization nature, so bitcoin is like one quick way to escape from fiat system that make most of us poor. Gold has the intrinsic value not only because it is precious metal but also gold is needed to make some electronic component.

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November 17, 2018, 03:18:13 AM
 #32

yes, bitcoin is like gold, but it is very different because the value of bitcoin fluctuates and gold is stagnant,
Gold is one of the most liquid and developed markets in the world, of course it's stable/stagnant. Bitcoin is no match for Gold in that regard, where on top of that, it's an asset that has been around for thousands of years versus an asset that has been here just for a decade. Bitcoin needs time. It will be up there eventually.

I also think that bitcoin cannot be used like ordinary money because the amount is limited and its growing community will make its value continue to increase.
If you think in Satoshis, there is plenty of juice for everyone using Bitcoin, regardless of the price. Isn't it cool to have money that increases in value instead of fiat that keeps losing value?

Great post among others on this thread, simple to understand and positive for the future.
For the last 6 months or so i have been thinking about and adding both Gold and Silver
to my holdings to compliment my bitcoin and litecoin. What a great spread they all make.
Some which are proven as per 1Referee's post and the others with a positive future for
snyone who is interested. The rest can struggle on with FIAT.
be happy, because for the past 6 months you have invested in gold and silver. During that time the BTC price has dropped to date. although both are good for long-term investment, gold and silver are safer


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November 17, 2018, 04:45:06 AM
 #33

Bitcoin is unique in a sense that it combines the features of gold and money. It has huge potential to handle huge payment operations like paper money, at the same time that it is also a very good investment like gold. I don't know how far this financial crisis in the crypto market will go (which is common in any market), but I believe that bitcoin has yet to prove itself. It hasn't reached its full potential yet and there are still a lot of rooms for its improvement. Once all its issues are resolved, its price will spike, making it a very good investment.
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November 17, 2018, 06:11:31 AM
 #34

Yes I agree that bitcoin is more alike with gold for now, it got a limited supply, bitcoin is the combination of money and gold, it can be used as currency and as commodity, but for now its more famous as a commodity, if bitcoin being implemented by many people then it can be a very useful thing
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November 17, 2018, 05:42:06 PM
 #35

You're right, bitcoin's deflationary nature means that present spending is more expensive than future spending.
I'm no economist, but I don't believe that statement is true.  Yes, bitcoin is limited in number, but that's no guarantee whatsoever that it's going to keep increasing in price.  Hell, the purchasing power of the bitcoin I own has decreased by about 10% since last week, and I think altcoins have suffered even more.

It's deflationary by nature, in that if the demand keeps increasing the value of it will continue to increase due to the limited supply. Most other currencies have a ever increasing supply so the value keeps to decrease. I was not stating that the value will increase indefinitely, because it's conditional on the demand.

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November 17, 2018, 05:46:33 PM
 #36

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.

No,Bitcoin isn't "designed" for that.There's no guarantee that the bitcoin price will increase over time.
The price of bitcoin depends of the market demand for btc,there's no guarantee that the demand will rise.
The limited supply of BTC doesn't mean anything,because bitcoin can be divided into 1M satoshis.
Just read Satoshi's original whitepaper and don't ask questions that are already asked 1000 times.


Even satoshi said here in the forums that bitcoin will either be worth "a lot" or nothing at all in the future. So far he was right, since it only keeps going up long term.

Bitcoin is not a currency, it's more like gold. The only way that bitcoin can be used as a currency is if the entire world uses bitcoin or at least the most relevant economies. So when 1 BTC = 1BTC there's no need to check it against fiat currencies.

Until that day comes, Bitcoin is a better gold, and therefore undervalued at all times for as long as it's marketcap is less so than gold.
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November 17, 2018, 06:03:27 PM
 #37

Of course i'll invest money on crypto currencies rather tha. the traditional gold or fiat because despite bitcoins volatility it enables many traders and investors to gain more of course there's risk but it's way better than the stagnant way of investing such as gold and fiat resources.

 
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November 17, 2018, 07:27:07 PM
 #38

Gold will continue to prevail over Bitcoin and fiat money.
Gold is what people want and can use, and this is a critical characteristic of the medium of exchange. Gold is very convenient to use as money.
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November 17, 2018, 07:41:14 PM
 #39

bitcoin in my opinion is like gold but in the digital world because bitcoin can be exchanged for any currency in each country so that it can be used. and bitcoin is my most dependable investment because of its highest price and ease when holding it.

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November 17, 2018, 09:57:22 PM
 #40

Bitcoin is called gold because it is limited in its quantity and is the most strong tool in the cryptocurrency market. And as in the classic financial market, all investors always prefer to keep the biggest part of their capital in gold, people also prefer Bitcoin in cryptocurrency

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November 17, 2018, 11:14:53 PM
 #41

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.

I should choose bitcoin because l will never stop looking forward that bitcoin will help me to attain all my goals in life to be rich.This is the only way to reach my goal in life.

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November 17, 2018, 11:26:01 PM
 #42

Although, bitcoin is like somehow like gold as the OP said because they are both a good investment which is why we see some project in the crypto sphere which combine crypto with gold in terms of keeping their investors profit intact. However, we must understand that they both have there advantage and disadvantage but I will definitely go for bitcoin every day.



Yes you're right they have their advantage and their disadvantage. But I would prefer to choose gold because they goes up as time goes by not like bitcoin it is not stable it goes down and hard to goes up so I think investing with gold can be profitable.
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November 18, 2018, 12:38:51 AM
 #43

Money is not a good choice, we already knew, Gold or Bitcoin? Why not both of them?
In the past, we saw Gold got through the Crisis with high value, but history might not be the same, hold Gold and also hold a BTC (At current price 5,5k)
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November 18, 2018, 02:33:28 AM
 #44

It doesn't offer easier divisibility unlike bitcoin and fiat currency, so again, gold would still be a worse form of money than bitcoin.

Yes. that's one of the disadvantages of gold over bitcoin because it cannot be easily divided unlike bitcoin wherein you just need to input the value and then voila, you already send the exact payment for that good or service. However, the advantage of gold over bitcoin is that it has been existing since time immemorial and everyone knew it that's why it can be exchanged anywhere whereas when one is using bitcoin then he needs to find someone who would accept it because only a few people or merchants do accept it nowadays.

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November 18, 2018, 02:44:46 AM
 #45

It could be true, but BTC price isn't rising for now. So people won't have any reason to keep holding, they will tend to use it as currency, however once BTC's price starts rising again they might tend to hold again... It depends the situation we are living on the currently moment. Sometimes Bitcoin looks more like gold (when it stores value and get more expensive within time), but sometimes it just looks like a virtual currency, as it is on its basic definition (with negative fluctuations and difficult to show strength to grow again).

 
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November 18, 2018, 02:52:05 AM
 #46

Money is not a good choice, we already knew, Gold or Bitcoin? Why not both of them?
In the past, we saw Gold got through the Crisis with high value, but history might not be the same, hold Gold and also hold a BTC (At current price 5,5k)

If we will be talking about money as a payment method, it is my number 1.

If we will be talking about something as a great investment, that would be obviously Gold since it is one of the long running best investment including other metals and investments. It is still the suggested investment of some of the most popular investors in the market so I would obviously want Gold over Bitcoin. Bitcoin may have a declining year but I think it will have its price pump in the coming years.

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November 18, 2018, 03:17:54 AM
 #47

if this is an investment problem, of course I will choose gold. gold has always been a benchmark of money, and money has always been a benchmark for bitcoin. so, I have gold for investment. besides, since a long time ago, gold was often used as a good investment, and the price never dropped.

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November 18, 2018, 03:36:32 AM
 #48

It could be true, but BTC price isn't rising for now. So people won't have any reason to keep holding, they will tend to use it as currency, however once BTC's price starts rising again they might tend to hold again... It depends the situation we are living on the currently moment. Sometimes Bitcoin looks more like gold (when it stores value and get more expensive within time), but sometimes it just looks like a virtual currency, as it is on its basic definition (with negative fluctuations and difficult to show strength to grow again).
Yeah right, in some instances bitcoin got a much higher appraisal and people loves to play with it and hold hoping to have much better value, but in this past months where bitcoin keep declining its value, more people are wisely thinks about value and pause for a while, bitcoin if you entrust your future you need to be more practical taking the big risk with high  potentials of great outcome, all about knowing your capabilities and your presence of minds when in terms of investment.

 
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November 18, 2018, 05:13:53 AM
 #49

bitcoin is indeed limited, but not only bitcoin has a limited total supply, there are a number of altcoins that have limited total supply, but that does not guarantee that prices will be good in the future
in this context, I prefer money rather than bitcoin or gold,
with money I can more freely buy bitcoin or gold more easily, and is very suitable for needs in real time
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November 18, 2018, 05:52:37 AM
 #50

I'd hold all three (money being allocated to stocks).
As for which one in the safest - Gold;
Which one is most likely to return positively - Stocks;
Which one is most likely to return massive amounts of wealth if there is a increase - Bitcoin


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November 18, 2018, 06:09:22 AM
 #51

Cash paper money are loosing gold, bitcoin is loosing gold...so the right choice is very easy Smiley

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November 18, 2018, 08:24:02 AM
 #52

"Bitcoin or Money"? What does this even mean? Bitcoin IS Money. It is money that is not issued by central banks and backed by government. It is energy based and secured by mathematics. As long as you keep thinking about bitcoin as opposed to "actual money" I think you're still missing the point. Money is a technology that has specific goals. Storing value and exchanging it for goods and services. Bitcoin is able to fulfill these goals incomparably more efficient than both fiat and gold.

Bitcoin is The Actual Money.

Fiat is government issued numbers that can be used like actual money... until the country goes into hyperinflation because of the decisions of politicans and bankers... or until your bank, card company or payment service decides to block your account for any reason at all... and not before half of the fiat you earn is taken away from you through taxes.

Totally agree. Money and Currency have two different definition. Bitcoin is a currency. And has been used as a form of money in exchange for goods and services. This will grow and eventually more people will come to accept the idea of using digital currency in transactions..
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November 18, 2018, 09:21:49 AM
 #53

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
Wrong,it is not made in a way like the prices will increase over time,the prices will increase only when the demand gets increase so we can't say that the prices will keep increasing forever on time periods.And don't compare bitcoin with gold as well because it is more traditional,more stable and acts as storage of value but bitcoin was found to be used as currency.

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November 18, 2018, 11:50:13 AM
 #54

All three are instruments that many people talk about as an investment. but the fact is that gold tends to be better than both. because the value continues to increase. gold is an item that is able to maintain our wealth. not give us wealth. but actually it's also very good as an investment

 
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November 18, 2018, 12:04:35 PM
 #55

All three are instruments that many people talk about as an investment. but the fact is that gold tends to be better than both. because the value continues to increase. gold is an item that is able to maintain our wealth. not give us wealth. but actually it's also very good as an investment
and the worst is money. bank interest and inflation on money are not comparable, so if we save at the bank, of course we will lose later. but for bitcoin there is a big risk

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November 18, 2018, 01:04:21 PM
 #56

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
Of course we need money here maybe I will choose all of the above since all of them can give good profit. As for today the price of bitcoin is very low compare to the price last quarter of last year when the price boomed to the top. This is the right time to buy for more bitcoins and hold until the price hit back to the top.
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November 18, 2018, 01:30:33 PM
 #57

what I know is gold, bitcoin and money are different things, like this:
- gold is unlimited precious metals, is an investment tool, has fairly stable price fluctuations, and the price depends on the exchange rate against the dollar in the sense that if the dollar rises the price of gold also rises
- Bitcoin is a limited number of coins, its price fluctuations are unpredictable because depending on demand, can be used as a means of transaction and investment, prices do not depend on the exchange rate of fiat currencies
- money is a legitimate transaction tool, owned by each country, the price refers to the current exchange rate against the dollar, fluctuating quite stable, but many factors will cause inflation.
if you have to choose for investment it depends on the extent to which you are ready to accept the risk, if you want to play it safe gold investment is recommended but if you want to quickly profit bitcoin is definitely a choice

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November 18, 2018, 01:40:06 PM
 #58

You're right, bitcoin's deflationary nature means that present spending is more expensive than future spending. Therefore from an economic point of view it is not useful when it comes to stimulating an economy. Also similarly to gold there may come a time where bitcoin is steadily increasing but only at a slow rate, therefore there won't be such a trade off between present and future consumption.

There is also one thing that people always assume when stating that bitcoin value will always rise, and that's that demand will continue to increase. If demand remains static or falls then the price won't increase over time.



That may be true, but only at the moment. Once Bitcoin gains more and more attention and more so value in the years to come, it would surely be more valuable to hold than it is now. Although, currently, gold and money are more stable to hold as their values do not really change much, it is surely a nice that another market player is emerging that can give newer investors to have their niche in the investment market.
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November 18, 2018, 04:01:20 PM
 #59

Bitcoin, Gold, and Money, those are all give us profit. Consequently, if you are going to look at their features all are really helpful in my opinion.
However, Gold for me is only for can afford people not for an ordinary people, then money/fiat is the major necessity anywhere we go we can able to use either in public, or all kind of traditional business, while Bitcoin can only use in terms of online payment also a kind investment too which is much safer than anything else.
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November 18, 2018, 06:14:20 PM
 #60

If I choose an item for investment, I personally choose bitcoin. This is a long-term investment in which I'm sure. As for gold, I can say that my grandparents, that is, the older generation, invested in it. For them, it was a sign of opulence and confidence in the future. And money is just money which at the moment gives me the opportunity to support myself and my family.

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November 18, 2018, 07:06:41 PM
 #61

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
If I see bitcoin, it's just an asset, like gold and a house. but digital assets are very high risk, even many countries that prohibit bitcoin from buying and selling, maybe indeed because of the fluctuating price. but it does not rule out the possibility of bitcoin being sought after by many people, because many people want to get big profits, and those who enter in the digital assets may want to make huge profits in a short time.

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November 18, 2018, 07:55:13 PM
 #62

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
Of course we need money here maybe I will choose all of the above since all of them can give good profit. As for today the price of bitcoin is very low compare to the price last quarter of last year when the price boomed to the top. This is the right time to buy for more bitcoins and hold until the price hit back to the top.
You are saying right but I think we will have to arrange the ratio for it, we need all for sure, buy some coin to hold and spare some money at the same time, as we will be able to use it at the time of need we will not have to sell our bitcoin, having bitcoin is the safety of future, never keep your money as it is useless according to me, this is good to have some investment, gold is not an old fashioned investment.

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November 18, 2018, 09:37:36 PM
 #63

I'll  choose  Gold and Bitcoin   Wink  you can  both  in the long  period of time.  I can say  that these two are good  for a   long time  Investment.   
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November 18, 2018, 11:38:56 PM
 #64

I'll  choose  Gold and Bitcoin   Wink  you can  both  in the long  period of time.  I can say  that these two are good  for a   long time  Investment.   
Actually we still need all three, as long as bitcoin is not as easy to use as fiat for payment, then we can only use it for investment.
as well as gold, a good option for safe long-term investment. but we still need money (fiat) for daily transaction
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November 19, 2018, 02:22:03 PM
 #65

All have their own advantages and disadvantages, between I choose all of Bitcoin, Gold or Money, I will make this sustainable. I can invest in Bitcoin or Gold, and trade with money. I use trading results to meet daily needs, Bitcoin and Gold for my future savings and family.

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November 19, 2018, 03:08:35 PM
 #66

I heard that Bitcoin is following the price pattern for Gold. Looks like a cheat sheet for me.
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November 20, 2018, 01:19:15 AM
 #67

If i should choose between money, gold and bitcoin, i am prefer choosing bitcoin and gold. Bitcoin is more valueable than paper money because its limited supply and we can use it as payment. Gold is traditional investment and the price always increasing.

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November 20, 2018, 02:25:42 AM
 #68

I'll  choose  Gold and Bitcoin   Wink  you can  both  in the long  period of time.  I can say  that these two are good  for a   long time  Investment.   
you're right, but my main choice is gold, and the second is bitcoin. well, my goal for collecting bitcoin is to have gold, but until now, that hasn't materialized, but I'm still trying to do that. when you have both, then you will have money.

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November 20, 2018, 02:39:13 AM
 #69

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
bitcoin was created to be a digital payment tool, but now what happens is that bitcoin has changed its function into an asset or merchandise that is traded, this obviously changes the original nature of the currency itself, this can be very dangerous, if the bitcoin is not used as a tool payment, in the future, bitcoin will only be in the savings of each owner and one day when there is no trading, bitcoin can be lost from circulation, high prices are now due to a lot of demand and little supply, so it does not mean becoming gold.
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November 20, 2018, 04:25:17 AM
 #70

Never choose bitcoin as your investment any more, did you see how drop and cheap of bitcoin price today, I heard bitcoin will back soon to under $1,000 price, you can keep your investment at gold or silver.


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November 20, 2018, 06:36:59 AM
 #71

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.

I should choose bitcoin because l will never stop looking forward that bitcoin will help me to attain all my goals in life to be rich.This is the only way to reach my goal in life.

Bitcoin is great, but for me, it is a bit foolish to choose only the cryptocurrency, which will always be volatile. Gold has pretty stable prices, and the money can be placed in a good bank. I'll pick all 3 of these options.
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November 21, 2018, 11:08:45 AM
 #72

Gold and bitcoin is only similar with bitcoin in term of characteristics, bitcoin don't have intrinsic value but what makes it worth is the decentralization nature, so bitcoin is like one quick way to escape from fiat system that make most of us poor. Gold has the intrinsic value not only because it is precious metal but also gold is needed to make some electronic component.

Dont forget that BTC has finite amount, gold does not , it is mined all the time in variety of mines.
Also there is good amount of concern that gold amount in circulation is not real, it has been inflated by banks who sold the same amount over and over again. ( speculation)

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November 21, 2018, 11:17:49 AM
 #73

for now it seems that it is still rare to receive payments using bitcoin, there are still many who use money to make payments, but when you want to save your assets and be able to get a lot of profits, bitcoin is the right choice.
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November 21, 2018, 11:22:16 AM
 #74

I guess investing in gold will provide comfort without having to think about price movements every day, other then that gold is already known by everyone so you don't have to worry about the price of gold because it will always have value. Unlike Bitcoin, you need sincerity when investing in bitcoin and must have high patience. I mean sincerity, you have to spend money where you sincerely want the money to go away or decline dramatically in a short time, therefore patience is the second factor when you choose investment in bitcoin. When the price of bitcoin decreases then you have high patience then you will not be reckless to sell the bitcoin you have.

 
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November 21, 2018, 11:39:54 AM
 #75

My current stratedy is to look at the stocks, if they continue the downtred ( has a lower low) then I am seriously considering GOLD/SILVER.
The crypto market has suprised my with this last downfall and the behavior in general in correlation with stocks.
I am not surprised with anything, because this is one of the most volatile and riskier markets out there.
Also, I think that Bitcoin is better as digital gold than currency, Bitcoin is not ready for massive adoption as a currency but maybe it will be one day, that depends on developers.

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November 21, 2018, 12:19:23 PM
 #76

Accurately say that bitcoin is digital gold!
Bitcoin is the highest market value in cryptocurrency and the basis of the cryptocurrency market! The scarcity of bitcoin supply is an essential part of maintaining value.
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November 22, 2018, 12:34:46 AM
 #77

actually Bitcoin and Crypto are multi-functional, because they can be used to buy like money and save like gold, so I am more suitable to call bitcoin and other crypto as both gold and money, and the advantages of Bitcoin are their limited supply and guaranteed security, easy to use and practical, and besides that bitcoin can also be used for investment because of its fluctuating prices,

so I think the conclusion is that bitcoin and crypto are multi-functional.
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November 22, 2018, 02:54:35 PM
 #78

I'll  choose  Gold and Bitcoin   Wink  you can  both  in the long  period of time.  I can say  that these two are good  for a   long time  Investment.   

Looking at the market of the cryptocurrency now and at the economy in many countries, I would better choose gold. This precious metal will stay one of the best investments forever. You can also invest in real estate.
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November 22, 2018, 04:02:46 PM
 #79

Well bitcoin is design to be unstable and volatile and that is what give it that unique nature of being decentralized cause it value can't be easily manipulated on by any central authority, but on like the traditional money which is control by a central authority which easily manipulate on it price. And this unstable price of bitcoin is what make it to be risky then either the gold and the traditional money because the both have a stable price and value.

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November 22, 2018, 04:07:51 PM
 #80

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.

Gold may well be suitable as money, as bitcoin itself. Earlier, as you remember, the money was gold and silver coins, which people quietly exchanged until they were replaced by papers with money in the equivalent. The same can happen with bitcoin in the near future. Nevertheless, it still remains a payment instrument and its value does not decrease, but rather only grows.

 
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November 22, 2018, 04:35:52 PM
 #81

Traditionally people trust more on gold or cash at home but now crypto currencies have changed preferences and we can invest from home any time any where and not for a short term but we can invest our funds in crypto for a long term so that we can get some profit now we do not know that how crypto value in future so let's wait for the right time and then i will cash my investment in crypto.

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November 22, 2018, 04:45:41 PM
 #82

I think everyone who chooses gold is the type of person who doesn't want to take risks. Everyone knows what gold is, so they consider gold to be an entity that has a value. And everyone who chooses bitcoin is those who dare to take risks, they are able to accept everything that will happen.

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November 23, 2018, 04:24:56 PM
 #83

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
By the way you are phrasing your statement you make it seem as if gold is not money, gold has been used as a form of money the longest among all the currencies around the world and before bitcoin was created gold was still the best form of money that we had, now that is no longer the case since now bitcoin exists and in my opinion it is way better than gold.



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November 23, 2018, 05:16:14 PM
 #84

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
In my opinion, Bitcoin is new technology designed to make easier transaction and save the funds with easy, fast, and secure. If you think it's like a gold, yes maybe like that, but I consider it like property.

~Snip
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
If stabilize? I agree with you, and if the situation like that, you can invest in GOLD to show off it to people's, but if you want to surprise a lot of people, then buy BTC for your future!

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November 23, 2018, 05:50:46 PM
 #85

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
In my opinion, Bitcoin is new technology designed to make easier transaction and save the funds with easy, fast, and secure. If you think it's like a gold, yes maybe like that, but I consider it like property.

~Snip
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
If stabilize? I agree with you, and if the situation like that, you can invest in GOLD to show off it to people's, but if you want to surprise a lot of people, then buy BTC for your future!
Bitcoin is really good to used to make the transaction easier, while gold is good asset because its value increase and money is very convenient to used as payment in small store. These three has different value but they have importance to our life, so I choose all of them because all of them have different uses.
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November 23, 2018, 06:27:16 PM
 #86

Bitcoin is more of money than gold.  We should treat bitcoin as one of our future currencies.  I think the white paper of bitcoin place it as a currency and not commodities.  Many of us are treating bitcoin as stocks and commodities but bitcoin is far better than them as it is a decentralized money.

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November 25, 2018, 04:49:35 PM
 #87

Bitcoin is more of money than gold.  We should treat bitcoin as one of our future currencies.  I think the white paper of bitcoin place it as a currency and not commodities.  Many of us are treating bitcoin as stocks and commodities but bitcoin is far better than them as it is a decentralized money.
It is true that bitcoin is being treated more as a stock than as a form of money but this is something that was bound to happen because it is very easy for bitcoin to change hands, so that characteristic not only makes bitcoin a great currency it also makes it a great tool to speculate with it because you can get in and out of the market with extreme ease.



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Chachacoin17
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November 25, 2018, 10:20:03 PM
 #88

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
yes, bitcoin is like gold, but it is very different because the value of bitcoin fluctuates and gold is stagnant, I also think that bitcoin cannot be used like ordinary money because the amount is limited and its growing community will make its value continue to increase.

You are right Bitcoin is Gold and can create a money as well. If you are hard working and do the job well in that case you will be gaining and probably you will be having a profit bigger than you aim for. In the community it is having a communication towards bitcpin on how it runs.
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November 25, 2018, 10:37:29 PM
 #89

So Bitcoin is designed.................
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
yes, bitcoin is like gold, but it is very different because the value of bitcoin fluctuates and gold is stagnant, I also think that bitcoin cannot be used like ordinary money because the amount is limited and its growing community will make its value continue to increase.


I agree with you bitcoin is like gold. But GOLD DOES FLUCTUATE.

GOLD PRICE (Ounce)

1920: $253
1940: $615
1980: $2,129
2001: $383
2018: $1,310
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November 25, 2018, 11:54:31 PM
 #90

Honestly, i really wanted to have them both. So my plan is keeping some of my money in banks while i am into cryptocurrency investments too. Once the market will turn back to green again as cryptos are rising drastically again, that's the time that i will buy gold too.

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November 26, 2018, 12:19:29 AM
 #91

I choose Bitcoin, because it's easy in terms of transactions, ownership and also storage. I don't care about hackers, I just keep my bitcoin safe and I hodl to get future profits.
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November 26, 2018, 06:26:31 AM
 #92

In my opinion, all of these are valuable. We can treasure all of these, if i would rank the three it would be 1.Gold 2. Bitcoin and last is 3. Money. For me gold is a very nice investment for it's value is stable in a way it is good for long term investment. Second is bitcoin for we knew the market is volatile. Lastly, money for we can earn it from having stable jobs or from gold or from bitcoin.
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November 26, 2018, 07:58:48 AM
 #93

I choose Bitcoin, because it's easy in terms of transactions, ownership and also storage. I don't care about hackers, I just keep my bitcoin safe and I hodl to get future profits.
yes, bitcoin currently supports a lot of new developments, and it can support its development for the better. but, I might choose gold, because I focus on real estate investment compared to other investments now.


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November 26, 2018, 08:54:46 AM
 #94

I choose Bitcoin, because it's easy in terms of transactions, ownership and also storage. I don't care about hackers, I just keep my bitcoin safe and I hodl to get future profits.
yes, bitcoin currently supports a lot of new developments, and it can support its development for the better. but, I might choose gold, because I focus on real estate investment compared to other investments now.

You can choose any from this 3 and you will not make a big mistake in short run, when it comes to long run you should have some from each of them, more crypto or gold and on last place cash. Each of us needs to focus on one of this three, or some other kind of investment, but always have in mind that you never keep all of your eggs in one basket, same you do with investments, you need to diversify and have something on many places you can. From this three things I will put crypto on first place, gold on second and cash on third place, whether you like it or not, we still needs cash and that will not change so fast.

 
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November 26, 2018, 11:43:45 AM
 #95

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.

Bitcoin price is not meant to be always on the rise as what we have experienced this time. Also when the price of Bitcoin is high it does not mean that Fiat money will decrease in value. As what I have understood, Bitcoin is backed by Fiat and Fiat is backed by gold so this means it should be synchronized for the betterment of each functions.

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November 26, 2018, 12:07:23 PM
 #96

Traditionally people trust more on gold or cash at home but now crypto currencies have changed preferences and we can invest from home any time any where and not for a short term but we can invest our funds in crypto for a long term so that we can get some profit now we do not know that how crypto value in future so let's wait for the right time and then i will cash my investment in crypto.
Gold is an old investment, you need to go out of your house to make an exchange and purchase, besides that the transfer and storage will be complicated and inflexible, crypto offers technology that is innovative and will become more mainstream in the future,  crypto offering a very profitable investment for the future..
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November 27, 2018, 03:41:56 AM
 #97

between money, gold, and bitcoin, of course an entrepreneur will choose everything, because these three things are the pillars in making a successful business. well, but, for the better, I chose gold, money and bitcoin. well, with gold, you can use that to get money, and lots of bitcoin.

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gamalzour
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November 27, 2018, 06:17:52 AM
 #98

So Bitcoin is designed so that the value of it will increase over time as opposite to traditional money in which the value of it will go down. But won't that make it more like gold instead of actual money?
By the prices of stuff going up in traditional money, it encourages keeping the goods and trading them, for example if someone owns a house that house's value won't just go down with time, it can go through time. But if goods were to keep getting lower in prices then it can as a result discourage buying them and trading. Which makes Bitcoin unusable as money. To keep your money safe of course you can store in a bank as they give you a small amount of interest.
Bitcoin has a limited supply and as time goes by and its popularity increases the prices can go higher and higher, making it less effective to be used as usual money. Imagine how would a shop keeper feel as their good will only decrease in price. And like traditional money which has banks Bitcoin doesn't offer much solution to this.
So even if bitcoin prices were to stabilize, wouldn't it be more like gold than a currency to use like traditional money? Gold is very similar in those terms to Bitcoin.
That’s not a question to be asked, all of them are good and you just have to make your choice based what will benefit you at the moment. Money is compulsory, Bitcoin and Gold are just means to save value or make extra money. So you need all of them. Right now Bitcoin wouldn’t be a good choice cause the price has been falling lately.
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