Bitcoin or gold?

[WhatTheGox]

Lets just face it guys gold is just not as sexy as the bitcoin:

https://www.youtube.com/watch?v=IC39KIRc-m8

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[adzino]

Amount of gold that can be mined has no limit(literally). The supply of gold is roughly increasing by 2-4% per year.

So on a  shorrt term basis there can perchance be a lot of volatility in the price of gold. But total number of bitcoins that can be mined is capped at
 
21million.

But since Bitcoin is a new technology, it is subject to more volatility as compared to gold.

But over the long run as no more bitcoins will me mined after the 21th million, we can expect it to be more stable and serve as a better value for storing than gold.

[iWokeUpLate]

I don’t think Bitcoin or any cryptos will be taking over as a world currency any time soon. I think it will be utilized but not for everyday purchases. Bitcoin and all Crypto currencies are to far ahead of their time and that might mean the end of it until it can be fully utilized. Just saying.

[deisik]

Amount of gold that can be mined has no limit(literally). The supply of gold is roughly increasing by 2-4% per year.

So on a  shorrt term basis there can perchance be a lot of volatility in the price of gold. But total number of bitcoins that can be mined is capped at
 
21million.

But since Bitcoin is a new technology, it is subject to more volatility as compared to gold.

But over the long run as no more bitcoins will me mined after the 21th million, we can expect it to be more stable and serve as a better value for storing than gold.

Do you know when 21 million bitcoins will be mined? In case you didn't (which apparently you don't), this will happen around 2110-2140. But it doesn't matter since Bitcoin supply has nothing to do with its volatility...

The annual supply of gold stays roughly the same (since 2000s)

[bryant.coleman]

Amount of gold that can be mined has no limit(literally). The supply of gold is roughly increasing by 2-4% per year.

This is pure BS. According to the United States Geological Survey (USGS), there are some 51,000 tons of recoverable gold remaining in various ore deposits, which are yet to be exploited. Already some 171,000 tons of gold has been mined and converted in to bullion or jewelry. So that comes to a total of 222,000 tons. If you want more gold, then you will have to travel to the outer space.

[deisik]

That is the case now, will not in the future. As more wealth gets moved into the ecosystem, stability arises. Bitcoin is the new gold standard. It represents the only value on the planet that is not simultaneously a liability on someone else's balance sheet other than other unwieldy commodities such as physical gold, yet has more properties of "good money" than its counterparts.

I guess it is only in your mind Bitcoin is a new "gold standard" and a few other freaks'. For the rest of population it is no more than some weird thingy, and a vehicle for speculation (gambling) for those who don't fall into one of these two categories...

Also, how do you know what the future holds?

The world needs to come to the realization that "money" is a representation of wealth that others are willing to recognize, not wealth itself. Given such realization, Bitcoin is better money than anything that has ever existed.

Given only that "realization", Bitcoin is not different than any paper (fiat) money out there. And it fails miserably when compared to gold and other things which do represent wealth by themselves

[zeraTunerse]

I don’t think Bitcoin or any cryptos will be taking over as a world currency any time soon. I think it will be utilized but not for everyday purchases. Bitcoin and all Crypto currencies are to far ahead of their time and that might mean the end of it until it can be fully utilized. Just saying.

Yes people will definitely choose gold over bitcoin as the history of gold is far better then any other investment products as it is traditional in nature and people find investing in bitcoin risky so they stay away from bitcoin and they prefer to invest in gold.

[fcmatt]

http://demonocracy.info/infographics/world/gold/gold.html

I think there is more gold then 220,000 tons on earth but that is just a guess based on harder extraction methods, tons lost over the centuries, etc...

"Ocean waters do hold gold – nearly 20 million tons of it. However, if you were hoping make your fortune mining the sea, consider this: Gold in the ocean is so dilute that its concentration is on the order of parts per trillion. Each liter of seawater contains, on average, about 13 billionths of a gram of gold.

There is also (undissolved) gold in/on the seafloor. The ocean, however, is deep, meaning that gold deposits are a mile or two under water. And once you reach the ocean floor, you’ll find that gold deposits are also encased in rock that must be mined through. Not easy.

Currently, there really isn’t a cost-effective way to mine or extract gold from the ocean to make a profit. But, if we could extract all of that gold, there’s enough of it that each person on Earth could have nine pounds of the precious metal. Eureka!"

So anyway.. who knows what tech will be invented to get better extraction methods some day.

[jt byte]

Bitcoin's biggest advantage over Gold: Its purely virtual and can thus be sent over the net to anywhere in an instant.

Gold's biggest advantage over Bitcoin: You can hold it in your hands.

[neurotypical]

Amount of gold that can be mined has no limit(literally). The supply of gold is roughly increasing by 2-4% per year.

So on a  shorrt term basis there can perchance be a lot of volatility in the price of gold. But total number of bitcoins that can be mined is capped at
 
21million.

But since Bitcoin is a new technology, it is subject to more volatility as compared to gold.

But over the long run as no more bitcoins will me mined after the 21th million, we can expect it to be more stable and serve as a better value for storing than gold.

The formation of gold is not enough for it to guarantee that we will never run out of gold. Mining gold becomes way harder and harder each year, which means more aggression in nature, while Bitcoin gets harder each year to mine too, but the impact in nature will never be as heavy as the big mining expeditions.

[Marbit]

Bitcoin's biggest advantage over Gold: Its purely virtual and can thus be sent over the net to anywhere in an instant.

Gold's biggest advantage over Bitcoin: You can hold it in your hands.

I am with Bitcoin all day long, gold is stable and i am a person who is willing to take some risks, even though it is all digital and does not have a physical form like gold, you can always get those glamorous casascius  physical bitcoin, bitcoin is in very early stages and the price will rise significantly in near future and i am all for bitcoin over gold, i will have 20% of my assets as gold, but it will not be over bitcoin in my portfolio.

[kenbytes]

Bitcoin is backed by the same thing that backs gold:  A group of people willing to buy it at various price points and another group willing to sell it.  Also known as supply and demand.

[deisik]

Bitcoin is backed by the same thing that backs gold:  A group of people willing to buy it at various price points and another group willing to sell it.  Also known as supply and demand.

But these two groups of people are evidently incomparable to each other by their numbers, right? So it doesn't matter if someone is willing to sell and someone else is willing to buy. What matters is the number of these individuals, i.e. total market participation...

God (Gold?) is on the side of the big squadrons

[SFR10]

I would choose bitcoin simply because , having full control on whenever to use it , how to handle it and can monitor it on a regular basis without help of anybody else and the fact that I do travel alot from few countries , I get to use it very easily anywhere without the hassle of carrying a gold with myself

[Amph]

Bitcoin is backed by the same thing that backs gold:  A group of people willing to buy it at various price points and another group willing to sell it.  Also known as supply and demand.

well this is true for every asset, but it will not make you choose what you think it's better between gold and bitcoin, you need to view the positive and the negative things, of both, and bitcoin has less negative things than gold, and because of this, you can say that it is superior

[bryant.coleman]

"Ocean waters do hold gold – nearly 20 million tons of it. However, if you were hoping make your fortune mining the sea, consider this: Gold in the ocean is so dilute that its concentration is on the order of parts per trillion. Each liter of seawater contains, on average, about 13 billionths of a gram of gold.

It is impossible to extract gold from the sea water, with the current technology. The total volume of all the water in the world is estimated at 1.332 billion cubic kilometers. So in order to extract 1 tonne of gold from the ocean, you need to process 66.6 cubic kilometers of water (about 70 billion tonnes of sea water).

[BitBatFan]

Tough decesion, I would rather say combination of both. I like bitcoin technology, but gold is simply...gold

[Dalord1]

Bitcoin or Gold: This is a really tough decision to make between the two but if i am forced to choose one, i will go with gold.

[gripflierGO]

Bitcoin or Gold: This is a really tough decision to make between the two but if i am forced to choose one, i will go with gold.

No one is forcing you but you have to choose one. So choose what you think can make a difference in the future. And gold is always a better option over the bitcoin as we have seen the good times and bad times of gold in the recent past but the investors have always enjoyed the success of investing into it.

[sukamasoto]

Still interest on gold since their price are quite stable rather than holding bitcoin. Bitcoin still need more time to make it more steady. When more people get interest into bitcoin, then bitcoin's price will raise.
And for the gold, it will keep raising since they getting rare (more difficult to find out )