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Author Topic: Bitcoin, Gold or Money?  (Read 791 times)
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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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zhanyiguai261315
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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.
Renaldi blackspadeteam
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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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