Bitcoin or gold?

[manselr]

"bitcoin mining is centralized too"

The centralization you speak of is an illusion. Individual miners make up mining pools. Eventually they will be geographically dispersed to best serve mining farms instead of miners. The mining farms can sell colored coin shares to individuals. Corporate mining farms help fund hashing R&D and provide healthy competition for a capitalist based monetary system.

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[deisik]

"bitcoin mining is centralized too"

The centralization you speak of is an illusion. Individual miners make up mining pools. Eventually they will be geographically dispersed to best serve mining farms instead of miners. The mining farms can sell colored coin shares to individuals. Corporate mining farms help fund hashing R&D and provide healthy competition for a capitalist based monetary system.

It is like saying that ordinary people make up multinational corporations or states, and I don't expect anyone to argue with that. But is the centralization of labor and human resources thereby also an illusion? I don't think so...

Dieu est du côté des gros bataillons

[bourseindia]

today 80% users are recommended to buy gold today.

[Slunt]

I'd rather do 50%:50% gold and bitcoin, because gold definitely has the potential but bitcoin can skyrocket quickly, and at the same time, it can plummet.

But what has more long term value? Bitcoin may rise and fall but if all goes well bitcoin's value today should be peanuts to its future potential and if bitcoin is at several thousand dollars then fluctuations wont matter that much but at some point I think it will steady and be less prone to bubbles.

[Cinnob0n]

Bitcoins. After the block reward reaches 10 BTC per block, the price will skyrocket. My own opinion though. 

[zmhtech]

If you had to convert all your wealth to either Bitcoin or gold and keep it there for 10 years, which would you choose? Keep in mind the fact that Bitcoin has only been around for 5 years, and could be fundamentally different in any number of ways in 10 years.

Bitcoin. Here is why

Let us go back 110 years to say 1904 and ask the following question: If you had to convert all your wealth to either horseless carriages (otherwise known as automobiles) or horses and keep it there for 10 years, which would you choose? Keep in mind the fact that horseless carriages have only been around for 5 years, and could be fundamentally different in any number of ways in 10 years.

By the way humans had been using horses as a primary form of transportation for millennia, yet in a period of 50 years between 1900 and 1950 they virtually vanished form the transportation scene. Will Bitcoin do the same to gold?

I cant agree more

[GreenStox]

If you had to convert all your wealth to either Bitcoin or gold and keep it there for 10 years, which would you choose? Keep in mind the fact that Bitcoin has only been around for 5 years, and could be fundamentally different in any number of ways in 10 years.

Bitcoin. Here is why

Let us go back 110 years to say 1904 and ask the following question: If you had to convert all your wealth to either horseless carriages (otherwise known as automobiles) or horses and keep it there for 10 years, which would you choose? Keep in mind the fact that horseless carriages have only been around for 5 years, and could be fundamentally different in any number of ways in 10 years.

By the way humans had been using horses as a primary form of transportation for millennia, yet in a period of 50 years between 1900 and 1950 they virtually vanished form the transportation scene. Will Bitcoin do the same to gold?

Bitcoin will do far worse to gold. See there are still carriages in number of poor places in africa and in south asia. In some places they still use bycicles rather than cars.

See the boom in the car market is only due to the banking system pumping car loans, once that goes away, most of the cars will too.

However Bitcoin will literally obliterate gold, and turn it into junk rusty iron. Carriages are still worth some money, gold wont be.

[deisik]

If you had to convert all your wealth to either Bitcoin or gold and keep it there for 10 years, which would you choose? Keep in mind the fact that Bitcoin has only been around for 5 years, and could be fundamentally different in any number of ways in 10 years.

Bitcoin. Here is why

Let us go back 110 years to say 1904 and ask the following question: If you had to convert all your wealth to either horseless carriages (otherwise known as automobiles) or horses and keep it there for 10 years, which would you choose? Keep in mind the fact that horseless carriages have only been around for 5 years, and could be fundamentally different in any number of ways in 10 years.

By the way humans had been using horses as a primary form of transportation for millennia, yet in a period of 50 years between 1900 and 1950 they virtually vanished form the transportation scene. Will Bitcoin do the same to gold?

Bitcoin will do far worse to gold. See there are still carriages in number of poor places in africa and in south asia. In some places they still use bycicles rather than cars.

See the boom in the car market is only due to the banking system pumping car loans, once that goes away, most of the cars will too.

However Bitcoin will literally obliterate gold, and turn it into junk rusty iron. Carriages are still worth some money, gold wont be.

Gold has been there for many millenia. It survived everything, every state that has come and vanished. It has even survived being outright banned from keeping (and probably more than once). And now you say that some obscure coin most people don't know a thing about will turn it into junk...

Are you kidding or what?

[GreenStox]

If you had to convert all your wealth to either Bitcoin or gold and keep it there for 10 years, which would you choose? Keep in mind the fact that Bitcoin has only been around for 5 years, and could be fundamentally different in any number of ways in 10 years.

Bitcoin. Here is why

Let us go back 110 years to say 1904 and ask the following question: If you had to convert all your wealth to either horseless carriages (otherwise known as automobiles) or horses and keep it there for 10 years, which would you choose? Keep in mind the fact that horseless carriages have only been around for 5 years, and could be fundamentally different in any number of ways in 10 years.

By the way humans had been using horses as a primary form of transportation for millennia, yet in a period of 50 years between 1900 and 1950 they virtually vanished form the transportation scene. Will Bitcoin do the same to gold?

Bitcoin will do far worse to gold. See there are still carriages in number of poor places in africa and in south asia. In some places they still use bycicles rather than cars.

See the boom in the car market is only due to the banking system pumping car loans, once that goes away, most of the cars will too.

However Bitcoin will literally obliterate gold, and turn it into junk rusty iron. Carriages are still worth some money, gold wont be.

Gold has been there for many millenia. It survived everything, every state that has come and vanished. It has even survived being outright banned from keeping (and probably more than once). And now you say that some obscure coin most people don't know a thing about will turn it into junk...

Are you kidding or what?

Because we only had internet for 30 years, it won't survive internet, because internet gives you a high-tech version of gold, bitcoin.

Before that, for the entirety of humanity, we only had a few savages and stone-age cavemen using stones and gold as a currency.

The middle ages have ended officially since the invention of internet (before that we got primitive savages calling themselves communists, ah).

TIME FOR THE HIGH-TECH FUTURE. 

[Xialla]

aha so bitcoin will make iron junk from gold and bitcoin is high tech gold because of internet. omg, how old are you?

[deisik]

Bitcoin will do far worse to gold. See there are still carriages in number of poor places in africa and in south asia. In some places they still use bycicles rather than cars.

See the boom in the car market is only due to the banking system pumping car loans, once that goes away, most of the cars will too.

However Bitcoin will literally obliterate gold, and turn it into junk rusty iron. Carriages are still worth some money, gold wont be.

Gold has been there for many millenia. It survived everything, every state that has come and vanished. It has even survived being outright banned from keeping (and probably more than once). And now you say that some obscure coin most people don't know a thing about will turn it into junk...

Are you kidding or what?

Because we only had internet for 30 years, it won't survive internet, because internet gives you a high-tech version of gold, bitcoin.

Before that, for the entirety of humanity, we only had a few savages and stone-age cavemen using stones and gold as a currency.

The middle ages have ended officially since the invention of internet (before that we got primitive savages calling themselves communists, ah).

TIME FOR THE HIGH-TECH FUTURE. 

I guess most people would still prefer shiny metal to some ethereal currency. Even in the age of high-tech future. You can't change human nature, even high-tech future can't do that...

[GreenStox]

aha so bitcoin will make iron junk from gold and bitcoin is high tech gold because of internet. omg, how old are you?

I`m 28, how old are you?

Only a non-evolving hardcore conservative would think otherwise. You gold bugs must be very narrowminded, no offence.

Chariots have been around 5000 years like gold, yet they have been replaced merely 80 years ago by cars, simply because it was better.

You think gold is so divine and invulnerable that it cant be replaced by something much more efficient: BITCOIN? You are the childish here  

[GreenStox]

I guess most people would still prefer shiny metal to some ethereal currency. Even in the age of high-tech future. You can't change human nature, even high-tech future can't...

Actually that is not true. There are gold fanboys sure, but if you would take some time and study sociology, and how people think, you would be surprised.

People are like a herd, and they follow what is trendy, gold is outdated in many of the younger minds, and older people (who are not gold bugs) simply dont care. So because there is such a big trend in "card payments" (although the underlying fiat is bullshit), and online payments , because its trendy and efficient.

You will hardly find willing people to turn back into a stone age technology. Yes ethereal concepts are more valuable in the 21 century.

95% of the money supply is not even on printed papers.

[Xialla]

aha so bitcoin will make iron junk from gold and bitcoin is high tech gold because of internet. omg, how old are you?

I`m 28, how old are you?

Only a non-evolving hardcore conservative would think otherwise. You gold bugs must be very narrowminded, no offence.

Chariots have been around 5000 years like gold, yet they have been replaced merely 80 years ago by cars, simply because it was better.

You think gold is so divine and invulnerable that it cant be replaced by something much more efficient: BITCOIN? You are the childish here  

like you.

sorry but I don't have single gram of gold and solid portions of stack of bitcoins so you are wrong. you know maybe you are right, but once this will happen, we will be both dozens of years under ground. Don't wanna flame here. but you should little speed down you bitcoin attitude..

[GreenStox]

aha so bitcoin will make iron junk from gold and bitcoin is high tech gold because of internet. omg, how old are you?

I`m 28, how old are you?

Only a non-evolving hardcore conservative would think otherwise. You gold bugs must be very narrowminded, no offence.

Chariots have been around 5000 years like gold, yet they have been replaced merely 80 years ago by cars, simply because it was better.

You think gold is so divine and invulnerable that it cant be replaced by something much more efficient: BITCOIN? You are the childish here 

like you.

sorry but I don't have single gram of gold and solid portions of stack of bitcoins so you are wrong. you know maybe you are right, but once this will happen, we will be both dozens of years under ground. Don't wanna flame here. but you should little speed down you bitcoin attitude..

I`m not so sure it will take that long, the car become mainsteam in the 40-50's, and it was invented in the 00's solely because it needed a viable infrastructure first, and it cost too much.

The PC become mainstream in only 20 years, in the 90's since it's invention in the 70's.

The internet took of in 10-15 years.

Bitcoin in 7 years?

It seems to me that the speed is doubling and duration is halving, between great inventions, because humanity is bigger ,and information spreads quicker now.

The internet itself, is an instant messaging system, literally, and you would be amazed how quickly bitcoin will be mainstream.

I dare to say, 1-2 years more

[gentlemand]

The internet itself, is an instant messaging system, literally, and you would be amazed how quickly bitcoin will be mainstream.

I dare to say, 1-2 years more

It's a much harder sell than something like a smartphone. Picking one of them up involves no risk, not much of a learning process and you have nothing to lose and everything to gain.

If you're in the EU banking pretty much does everything you need it to right now. Most people don't care or don't want to know what money really is.

I can see millions more people using BTC in the years to come but maybe they won't actually be aware that they are. People making the switch from largely using their local currency to BTC en masse seems like a stretch to me but what do I know?

[deisik]

I guess most people would still prefer shiny metal to some ethereal currency. Even in the age of high-tech future. You can't change human nature, even high-tech future can't...

Actually that is not true. There are gold fanboys sure, but if you would take some time and study sociology, and how people think, you would be surprised.

People are like a herd, and they follow what is trendy, gold is outdated in many of the younger minds, and older people (who are not gold bugs) simply dont care. So because there is such a big trend in "card payments" (although the underlying fiat is bullshit), and online payments , because its trendy and efficient.

I'm not going to start a flame war, but it seems that it is you who should go study, though not sociology but rather psychology, and what people actually think (and feel). An average Joe will stay away from Bitcoin after he even temporarily loses his Bitcoin savings due to a blackout or Internet connection failure. And I don't even mention that 99% of populace will not be quite happy about losing 10-20% of their savings value on a daily basis due to Bitcoin price volatility...

[hardfork1]

I am new still, but I love my gold still.  I think it's a good good investment still.  It just has done a amazing job of holding value.

I will add BTC to my investing now.  I guess I will diversify with now going into BTC.

[r1f696]

my opinion is gold, cause gold i think had a prospect for next 25 years and look from rate of bitcoin in 2013 until now , but like you said if for 5 years again, maybe both are not wrong choice (if you have some over money lol)

[deisik]

I hear this over and over again that the price of gold/silver can't go much lower because we're at about break-even for production. This is a silly statement. Of course prices CAN go lower, it will just make the more expensive mines unprofitable and eventually put them out of business. The same is true of oil. If all had said the price of oil couldnt drop below the production cost inclusive of all of the shale extraction, then it wouldn't have gone lower. But it did, and it is putting stress on shale. Eventually we'll see a bottom, but when enough of the high-cost producers have been destroyed.

Of course it could go lower than the recent lows of around 1,170$ an ounce (or even below 1,140$ as of March). But this won't be for long. It is not actually about the production costs of gold mining (though they do contribute). All gold mines produce annually only a few percentages of all gold that is stashed and hoarded since ancient times. Obviously, you forget to take into account the other side of the equation, that is, demand for gold. Personally, I want gold to go below its current price level, so that I would buy it cheaper. And you may well guess that I'm not the only one...