though for me gold is a bad investment option because the price is nearly not moving and it is too boring, because of that i always choose to use only bitcoins and nothing else
There are a huge number of gold derivatives that will provide you with any level of volatility you may ever strive for. I'm really fascinated by people who don't have a slightest clue about gold and gold trade (read have never been there), but are nevertheless ready to pop up and say some bullshit about it. As they say, an expert is someone with an opinion and a word processor...
The latter is not even required if you have access to Internet, lol
Totally agree, 99% of people posting in this topic have no knowledge of gold and keep spurting incorrect "facts"
The usual crap includes :
1) Gold is difficult to store - A gold bar costing $43000 is the size of a smart phone, not hard to hide away safely. If most of the bitcoin geeks here converted their bitcoin wealth to gold they probably wouldnt even have enough gold to make a tooth filling.
2) As above gold price is boring and doesnt move - gold is currently up 30% year to date.
3) Gold is hard to buy - There are numerous bullion dealers online - piss easy if you cant get to a physcial shop.
4) Gold is hard to sell - Either walk in to a dealer and sell on the spot or you can post fully insured and get paid the next day.
5) I.D requirements for buying - In the UK no I.D needed unless you spend over £5000 in 1 transaction or £10000 a year with 1 dealer. Spread your buys around and no I.D will ever be needed.
6) I.D requirements for selling - In the UK none needed, I walked into a dealers a month ago and sold £50,000 over the counter no questions asked.
7) Legal tender gold coins are capital gains tax free, a big benefit for large gold investments over bitcoin.
8 ) Gold can easily be converted to cash in any town or city anywhere in the world. Bitcoin is no where near that adoption rate.
9) The evil government will ban gold and steal it - How will they know you have it? There are far more examples of bitcoin being banned in modern history than gold.
10) Gold degrades over time - no it doesnt
11) Fake gold - Dont buy it off some retard on ebay, stick to well known and trusted bullion dealers if you dont know what you are doing.
12) You can flee a country with all your bitcoin wealth on a memory stick not possible with gold - (a) I dont live a shit hole country so this situation is irrelevant. (b) There are a lot of examples during wars of people bribing guards etc. with gold coins to save their ass. As recent as "Desert Storm" pilots were issued gold sovereigns as part of their survival kit.
13) Gold has no 3rd party risk - no computers, network, exchanges, electricity required.
14) Bitcoin is easier to spend online - Thats what I have cash and debit card for, my investments are for investment and not daily spending.
15) You can trade bitcoin online you cant with gold - yes you can, have a look at bullionvault or goldmoney for example.
16) Its easy to make lots of money with bitcoins volatility, cant do it with gold - If its so easy to make lots of money with bitcoins volatility then why arent you all stinking rich instead of spending all your time on here
17) You can earn bitcoin through work, faucets etc. - Time is money, you can just as easily earn cash and just buy gold, its the same thing.
18) I would be very confortable having a significant chunk of my wealth stored as gold ready for my retirement in 25 years time, would you be as confident having the same investment held in bitcoin?
19) Security issues with bitcoin - trojans, worms, key loggers, hacked exchanges, scammers - Look at the number of people that have lost bitcoin on this site alone. Show me any gold/silver stackers site with a whole section dedicated to scams - currently sitting at 124 page fulls here (you wont find one)
