Gold has been down 90% Nobody said "Gold is Dead" - BTC is the New Gold - Right?

[btc-room101]

If you had bought gold from 1978 to 1982 you would have lost a whopping +84% of your money on gold, that's how volatile historically gold is,

Yet we're frequently told the world is coming to an end, that BTC is too volatile, yet on the other hand, we're told that GOLD is 'virgin marry herself' of perfection in a real asset.

BTC has many shortcomings, but it was 'FIRST' and that means a lot in the world of TECH, it always has and always will.

Let's look at the historical thing on 'First', back in 1984 there was Lotus 123, a spreadsheet for IBM pc's, it was the holy-grail of software, they were 'first', yet there was also visicalc on the early apples years earlier, so they really weren't first,  but Mitch Kapor founder of Lotus said "If you want to be rich in the PC biz, you just need a garage, a computer and $5 million bucks" [ The joke here is the the $5M was for marketing, as that is secret-sauce of 'success' ]

The world of BTC isn't much different than early 1980's, today if you want to be rich in BTC, you need a garage, and mining racks and of course 'free electricity'. China isn't giving electricity away for free anymore so lots of miners have had to pull the plug, everywhere including Canada, and USA, even I have pulled the plug for time being, given that power cost/profit parity is now zero-gain, even in the GPU world for alt's. It doesn't pay to mine, the only thing that I see that pay's is running super-servers for alt-coins that pay you to run secure transaction servers.

Another thing said about 'TECH' is  ...

1.) You got to be first
2.) You got to be the BEST
3.) You got to be the fastest

Well BTC was the first and it ain't the best, and it sure is HELL is not the fastest, thus there is lots of room for improvement, if your 3 of 3, then you become a billionaire, if your one of the three then its easy to make millions.

Today we're not even close to a "BEST" bitcoin clone, and we don't even have anything to consider as the 'fastest'

ETHEREUM is a fucking DOG, forget about it,

99% of all the shit, is a BTC clone, with virtually no added value to the software, a complete re-write, once the problems are well known will be required, to establish 2 or 3 above

I think in this area of "BEST", privacy/security should be considered as the TEST, as BTC is NOT private, it ain't secure, and it sure as hell ain't fast.

My personal favorite is ZEN/ZCASH world with maximum security, and especially the fact that they have 1,000's of secure & super-servers all over the world completely detached and encrypted, and the people hosting these servers get paid in crypto so there is an incentive, in BTC there is no incentive as mining is the incentive, but it doesn't pay to mine, so eventually the servers for transactions have no incentive to stay on the grid.

Everything is FINE folks, BTC is going to be just fine, but remember BTC is the end-all, be-all it was just first, and PEOPLE really need to be working on the next generation shit, and forget about putting band-aides on the geriatric dinosuar,

[1715245397]

1715245397

[1715245397]

1715245397

[Zin-Zang]

Hmm,

Do you know what happens when the price of gold decreases,
the utility use of it increases.

Meaning more gold is used in Jewry , more gold is used in electronics, more gold is used in dentistry.

Basically the lower prices gold has other uses absorb it supply and help maintain price over time.

Bitcoin only real use is as a payment system , no matter it's price.
Many fools try to say btc is a store of value, the recent 80% loss in value should give those idiots a clue.
  
Low Price BTC is used as a payment system , the higher btc price the less effective payment system it becomes, as transaction fees become excessive.
BTC HAS NO OTHER REASON FOR EXISTING, and no other usage to offset a price drop.

BTC is INFERIOR TO GOLD & SILVER, because of it's lack of utility and dependence on ASICS miners that can't maintain profitability due to an energy waste issue that has been completely ignored since 2013.

If the ASIC miners quit, btc dies, no one can quit and your gold quits being gold.

Gold's other uses remain and no one needs to spend millions of dollars per month to keep it running like btc.

[Haunebu]

Lol. I don't agree with you at all op. You are trying to state that Bitcoin is based on an archaic technology which is why it needs to be abandoned in favor of coins which have better technologies behind them, but you are sorely mistaken.

99% of the world population associate the cryptocurrency market with Bitcoin for many reasons. Not many people recognize Ethereum or Ripple which are 2 of the best cryptocurrencies in the market at the moment.

Bitcoin has been the king of this market for a long duration of time for obvious reasons and I am confident that it will stay as the king forever. No coin comes close to Bitcoin in terms of popularity levels.

[Pursuer]

the unfortunate thing is that everyone wants to own more bitcoin and they all know two things. first is that if the price is lower then they can  continue buying more of it compared to when the price is higher. and second is the unfortunate fact that they know whenever there is a manipulation and FUD, they can make a lot of money from the market by shorting bitcoin and/or buying it cheap at the bottom.
so what we end up seeing is a lot of FUD calling bitcoin dead. and it has been going on for years. there is even a very long obituaries page for bitcoin from all the biggest cases of them calling bitcoin "dead"!

[geminiboy]

yes, bitcoin is called digital gold on crypto investment, forever bitcoin will live like gold even though the price is so fast changing but bitcoin will be the best for the future

[BitcoinHodler]

true, except that nobody has ever been FUDing gold half as much as they are FUDing bitcoin and not even at the same large scale!!! so i think it is safe to say that when bitcoin drops like this despite all the circumstances it is performing well in some ways!

[btyco]

Hard to compare with gold because there is global demand by governments and has been around for over a thousand years. When bitcoin is used by governments, it will pump like hell

[avikz]

BTC is the new gold - Absolutely wrong statement!

Gold has been used since ages for investment as well as for making ornaments and related things! Bitcoin is not an investment - Get this fact straight!

People who are crying over the falling price, are investors of bitcoin who are here because bitcoin shown potential to make them rich! They don't see the potential now and crying foul because they are neck deep into debt.

Bitcoin is a currency system which should be used as a currency. However, my advice to the investors is, take advantage of the discounted price now!

[Peacemaker1994]

Gold is a physical commodity and gold is not a currency strongly so at that. So there is more attention giving to the situations of cryptocurrency that gold

[LeGaulois]

The Bitcoin market is much younger than the gold market, or any other. It is therefore always easier to criticize it until he has proven itself.
2 or 3 weeks ago the Gold price went from €40k to €30k within a week, nobody was blaming gold as "dead".

Sure Bitcoin isn't perfect but as you said we have plenty of room from improvements. Yes, Bitcoin isn't private, isn't fast, etc this is where the altcoins come to be complementary. I prefer Horizen (ZEN), for its privacy and its resilient network with maybe more nodes than BTC. People who participate with a node get an equal share of 10% of the block reward too

[bitfocus]

Please stop calling Bitcoin as a gold.

[vitamink2]

It seems as though the commenters above are right,

Bitcoin, when cheap, is a means of payment. 
 
Bitcoin, when expensive, is a store of wealth (simply because it cannot be a means of payment.). 
 
But it seems that Bitcoin is almost as volatile when it is a store of wealth (expensive) rather than a means of payment (cheap.).
 
Makes me wonder whether Bitcoin Cash then is the true Bitcoin...

[unusualfacts30]

If you had bought gold from 1978 to 1982 you would have lost a whopping +84% of your money on gold, that's how volatile historically gold is,

Yet we're frequently told the world is coming to an end, that BTC is too volatile, yet on the other hand, we're told that GOLD is 'virgin marry herself' of perfection in a real asset.

BTC has many shortcomings, but it was 'FIRST' and that means a lot in the world of TECH, it always has and always will.

Let's look at the historical thing on 'First', back in 1984 there was Lotus 123, a spreadsheet for IBM pc's, it was the holy-grail of software, they were 'first', yet there was also visicalc on the early apples years earlier, so they really weren't first,  but Mitch Kapor founder of Lotus said "If you want to be rich in the PC biz, you just need a garage, a computer and $5 million bucks" [ The joke here is the the $5M was for marketing, as that is secret-sauce of 'success' ]

The world of BTC isn't much different than early 1980's, today if you want to be rich in BTC, you need a garage, and mining racks and of course 'free electricity'. China isn't giving electricity away for free anymore so lots of miners have had to pull the plug, everywhere including Canada, and USA, even I have pulled the plug for time being, given that power cost/profit parity is now zero-gain, even in the GPU world for alt's. It doesn't pay to mine, the only thing that I see that pay's is running super-servers for alt-coins that pay you to run secure transaction servers.

Another thing said about 'TECH' is  ...

1.) You got to be first
2.) You got to be the BEST
3.) You got to be the fastest

Well BTC was the first and it ain't the best, and it sure is HELL is not the fastest, thus there is lots of room for improvement, if your 3 of 3, then you become a billionaire, if your one of the three then its easy to make millions.

Today we're not even close to a "BEST" bitcoin clone, and we don't even have anything to consider as the 'fastest'

ETHEREUM is a fucking DOG, forget about it,

99% of all the shit, is a BTC clone, with virtually no added value to the software, a complete re-write, once the problems are well known will be required, to establish 2 or 3 above

I think in this area of "BEST", privacy/security should be considered as the TEST, as BTC is NOT private, it ain't secure, and it sure as hell ain't fast.

My personal favorite is ZEN/ZCASH world with maximum security, and especially the fact that they have 1,000's of secure & super-servers all over the world completely detached and encrypted, and the people hosting these servers get paid in crypto so there is an incentive, in BTC there is no incentive as mining is the incentive, but it doesn't pay to mine, so eventually the servers for transactions have no incentive to stay on the grid.

Everything is FINE folks, BTC is going to be just fine, but remember BTC is the end-all, be-all it was just first, and PEOPLE really need to be working on the next generation shit, and forget about putting band-aides on the geriatric dinosuar,

If certain people fud gold as much as they do to btc, gold wouldn't cost what it costs today. I think it's silly to compare gold which has its purpose to bitcoin which is ultimately a digital currency that has different purpose than gold. Fair comparison would be other cryptocurrency who aren't doing so well either.

[bitbunnny]

I would say that this comparison of Bitcoin with gold is wrong because to my opinion these are two completely different categories. And saying that Bitcoin is new gold probably isn't meant literary, more to get picture od the value for the users.
Anyway, Bitcoin is risky as any other investment, you haven't to count on volatility all the time and that from time to time you could face possible losses. No one hasn't ever guaranteed that Bitcoin will bring only and exclusvely profit. Afterall, the choice is always yours and it isn't good to blaim others for wrong estimations and decisions.

[AshleyFurious]

Btc is a completely different kind of asset. Btc can't be compared to gold, although it's may become as much worthwhile to hold. The deflative nature of btc will allow it to surpass gold in the future.

[charlotte04]

If you had bought gold from 1978 to 1982 you would have lost a whopping +84% of your money on gold, that's how volatile historically gold is,

Yet we're frequently told the world is coming to an end, that BTC is too volatile, yet on the other hand, we're told that GOLD is 'virgin marry herself' of perfection in a real asset.

BTC has many shortcomings, but it was 'FIRST' and that means a lot in the world of TECH, it always has and always will.

Let's look at the historical thing on 'First', back in 1984 there was Lotus 123, a spreadsheet for IBM pc's, it was the holy-grail of software, they were 'first', yet there was also visicalc on the early apples years earlier, so they really weren't first,  but Mitch Kapor founder of Lotus said "If you want to be rich in the PC biz, you just need a garage, a computer and $5 million bucks" [ The joke here is the the $5M was for marketing, as that is secret-sauce of 'success' ]

The world of BTC isn't much different than early 1980's, today if you want to be rich in BTC, you need a garage, and mining racks and of course 'free electricity'. China isn't giving electricity away for free anymore so lots of miners have had to pull the plug, everywhere including Canada, and USA, even I have pulled the plug for time being, given that power cost/profit parity is now zero-gain, even in the GPU world for alt's. It doesn't pay to mine, the only thing that I see that pay's is running super-servers for alt-coins that pay you to run secure transaction servers.

Another thing said about 'TECH' is  ...

1.) You got to be first
2.) You got to be the BEST
3.) You got to be the fastest

Well BTC was the first and it ain't the best, and it sure is HELL is not the fastest, thus there is lots of room for improvement, if your 3 of 3, then you become a billionaire, if your one of the three then its easy to make millions.

Today we're not even close to a "BEST" bitcoin clone, and we don't even have anything to consider as the 'fastest'

ETHEREUM is a fucking DOG, forget about it,

99% of all the shit, is a BTC clone, with virtually no added value to the software, a complete re-write, once the problems are well known will be required, to establish 2 or 3 above

I think in this area of "BEST", privacy/security should be considered as the TEST, as BTC is NOT private, it ain't secure, and it sure as hell ain't fast.

My personal favorite is ZEN/ZCASH world with maximum security, and especially the fact that they have 1,000's of secure & super-servers all over the world completely detached and encrypted, and the people hosting these servers get paid in crypto so there is an incentive, in BTC there is no incentive as mining is the incentive, but it doesn't pay to mine, so eventually the servers for transactions have no incentive to stay on the grid.

Everything is FINE folks, BTC is going to be just fine, but remember BTC is the end-all, be-all it was just first, and PEOPLE really need to be working on the next generation shit, and forget about putting band-aides on the geriatric dinosuar,

Gold is very different than Bitcoin. We shouldn't really compare both of them because the differences is quite obvious.

[Coinraptor]

To me, bitcoin is another form of precious gold and even bitcoin is considered to be as digital gold. Though bitcoin is highly volatile in price, in fact, it is its natural quality in the crypto world. But guys we cannot totally mix bitcoin with the gold cause bitcoin is the digital currency and it has different nature.

[BrewMaster]

maybe they said "gold is dead" back in the time too. how are you so sure nobody said it? the thing about bullshit is that it doesn't really stored in the history. for example if that website never started the "bitcoin obituaries" thing we may not have known that there were a lot of people bullshitting about bitcoin all these years and bitcoin is not even 10 years old yet. now imagine if it was as old as gold, all this will be forgotten by then as if nobody ever called it "dead". every one of them would praise bitcoin as if they have been doing it all along

[Oniko]

BTC is limited and it will end soon and the price rises to $ 10,000. This can happen in the next 5-7 years. I think you don’t need to compare with gold, because Bitcoin has noble goals

[Sandus_Cryptolover]

If you had bought gold from 1978 to 1982 you would have lost a whopping +84% of your money on gold, that's how volatile historically gold is,

Yet we're frequently told the world is coming to an end, that BTC is too volatile, yet on the other hand, we're told that GOLD is 'virgin marry herself' of perfection in a real asset.

BTC has many shortcomings, but it was 'FIRST' and that means a lot in the world of TECH, it always has and always will.

Let's look at the historical thing on 'First', back in 1984 there was Lotus 123, a spreadsheet for IBM pc's, it was the holy-grail of software, they were 'first', yet there was also visicalc on the early apples years earlier, so they really weren't first,  but Mitch Kapor founder of Lotus said "If you want to be rich in the PC biz, you just need a garage, a computer and $5 million bucks" [ The joke here is the the $5M was for marketing, as that is secret-sauce of 'success' ]

The world of BTC isn't much different than early 1980's, today if you want to be rich in BTC, you need a garage, and mining racks and of course 'free electricity'. China isn't giving electricity away for free anymore so lots of miners have had to pull the plug, everywhere including Canada, and USA, even I have pulled the plug for time being, given that power cost/profit parity is now zero-gain, even in the GPU world for alt's. It doesn't pay to mine, the only thing that I see that pay's is running super-servers for alt-coins that pay you to run secure transaction servers.

Another thing said about 'TECH' is  ...

1.) You got to be first
2.) You got to be the BEST
3.) You got to be the fastest

Well BTC was the first and it ain't the best, and it sure is HELL is not the fastest, thus there is lots of room for improvement, if your 3 of 3, then you become a billionaire, if your one of the three then its easy to make millions.

Today we're not even close to a "BEST" bitcoin clone, and we don't even have anything to consider as the 'fastest'

ETHEREUM is a fucking DOG, forget about it,

99% of all the shit, is a BTC clone, with virtually no added value to the software, a complete re-write, once the problems are well known will be required, to establish 2 or 3 above

I think in this area of "BEST", privacy/security should be considered as the TEST, as BTC is NOT private, it ain't secure, and it sure as hell ain't fast.

My personal favorite is ZEN/ZCASH world with maximum security, and especially the fact that they have 1,000's of secure & super-servers all over the world completely detached and encrypted, and the people hosting these servers get paid in crypto so there is an incentive, in BTC there is no incentive as mining is the incentive, but it doesn't pay to mine, so eventually the servers for transactions have no incentive to stay on the grid.

Everything is FINE folks, BTC is going to be just fine, but remember BTC is the end-all, be-all it was just first, and PEOPLE really need to be working on the next generation shit, and forget about putting band-aides on the geriatric dinosuar,

The use case of good cannot be compared with that of Bitcoin not to mention how long and what it took gold to stand firm till date. To me, Bitcoin is still in the infant stage and still got a long way to go before it can be compared to gold.