Bitcoin or gold?

[Decoded]

Everybody knows about gold but not everybody knows about bitcoin.

Gold is accepted anywhere which means gold will never lose its chance against bitcoin.

The problem is that if bitcoin meets a worldwide adoption, maybe it will be even more steady that gold, and worth much, much more, as there are only twenty one million coins.

[elite3000]

i'll go for bitcoin definitely 'cause i can see bitcoin on mainstream in the next 10 years. also i can a see a better future with bitcoin than with gold

[RealBitcoin]

i'll go for bitcoin definitely 'cause i can see bitcoin on mainstream in the next 10 years. also i can a see a better future with bitcoin than with gold

Yep good logic.

You could see a bigger bitcoin with more users in 10 years.

But you cant see a bigger userbase for gold in 10 years.

Why?

Because bitcoin can add new value to itself as time goes on and more merchants and payment options roll out.

Gold will be the same old metal always, and nothing new can be added to it.

[markj113]

i'll go for bitcoin definitely 'cause i can see bitcoin on mainstream in the next 10 years. also i can a see a better future with bitcoin than with gold

Yep good logic.

You could see a bigger bitcoin with more users in 10 years.

But you cant see a bigger userbase for gold in 10 years.

Why?

Because bitcoin can add new value to itself as time goes on and more merchants and payment options roll out.

Gold will be the same old metal always, and nothing new can be added to it.

Except that most of the cheap and easy to access gold has already been mined.

Energy prices will continue to increase (ignoring the current short term blip) resulting in increased mining costs.

Growing populations such as India and now China (after they just removed their 1 child policy) with a cultural draw to gold.

A world economy on the brink of going tits up which result in a flight to safety - Gold.

Bitcoin could be big in 10 years or kids could be asking "what's a bitcoin" as its dead as a dodo.

[RealBitcoin]

Except that most of the cheap and easy to access gold has already been mined.

Energy prices will continue to increase (ignoring the current short term blip) resulting in increased mining costs.

Growing populations such as India and now China (after they just removed their 1 child policy) with a cultural draw to gold.

A world economy on the brink of going tits up which result in a flight to safety - Gold.

Bitcoin could be big in 10 years or kids could be asking "what's a bitcoin" as its dead as a dodo.

And how safe is to store your gold in a hostile enviroment? It can be confiscated anytime.

Plus scarcity =/= demand. There are a limited amount of flies on earth too, that doesn't mean that they hold any value to humans.

[Gliassa]

Doesn't matter for me I like both.

BTC or not or Gold or not still money I want money xD

[markj113]

Except that most of the cheap and easy to access gold has already been mined.

Energy prices will continue to increase (ignoring the current short term blip) resulting in increased mining costs.

Growing populations such as India and now China (after they just removed their 1 child policy) with a cultural draw to gold.

A world economy on the brink of going tits up which result in a flight to safety - Gold.

Bitcoin could be big in 10 years or kids could be asking "what's a bitcoin" as its dead as a dodo.

And how safe is to store your gold in a hostile enviroment? It can be confiscated anytime.

Plus scarcity =/= demand. There are a limited amount of flies on earth too, that doesn't mean that they hold any value to humans.

Confiscated by who?

Who knows who does and doesnt have gold?

How do they know if you havent previously sold it on?

The confiscation statement is bullshit, even the US's confiscation period was a failure with only a tiny % handed in.

Here is a flip side argument.

There is a case detailed on this forum where a guys house was raided by the feds and he was forced to hand over his wallet passwords.

I bet its far easier for them to trace via I.P addresses who has bitcoin than it is to find out who holds gold.

[RealBitcoin]

Confiscated by who?

Who knows who does and doesnt have gold?

How do they know if you havent previously sold it on?

The confiscation statement is bullshit, even the US's confiscation period was a failure with only a tiny % handed in.

Here is a flip side argument.

There is a case detailed on this forum where a guys house was raided by the feds and he was forced to hand over his wallet passwords.

I bet its far easier for them to trace via I.P addresses who has bitcoin than it is to find out who holds gold.

That was like 100 years ago. Now they got tons of info on every person, including buy & sale data from gold vendors from their KYC info.

They dont know how much gold you have excactly but they know that if you have, and when they ask for it and you dont hand it over, they will come for you.

Plus back then people were liberty oriented so they didnt handed it over, but now they are all socialists who dont even know what gold is.

[markj113]

Confiscated by who?

Who knows who does and doesnt have gold?

How do they know if you havent previously sold it on?

The confiscation statement is bullshit, even the US's confiscation period was a failure with only a tiny % handed in.

Here is a flip side argument.

There is a case detailed on this forum where a guys house was raided by the feds and he was forced to hand over his wallet passwords.

I bet its far easier for them to trace via I.P addresses who has bitcoin than it is to find out who holds gold.

That was like 100 years ago. Now they got tons of info on every person, including buy & sale data from gold vendors from their KYC info.

They dont know how much gold you have excactly but they know that if you have, and when they ask for it and you dont hand it over, they will come for you.

Plus back then people were liberty oriented so they didnt handed it over, but now they are all socialists who dont even know what gold is.

Not in the UK,  no data is collected unless you spend over £5000 in 1 transaction or over £10,000 in one year per bullion dealer.

I presume you live in the "land of free"  

+ why would they go through all the hassle of chasing people spread out through country that may or may not have an amount of gold when the laws are already in place to freeze and apply a haircut to their bank balance.  All done with a few key strokes, lower cost + much higher return.

[RealBitcoin]

Not in the UK,  no data is collected unless you spend over £5000 in 1 transaction or over £10,000 in one year per bullion dealer.

I presume you live in the "land of free" 

+ why would they go through all the hassle of chasing people spread out through country that may or may not have an amount of gold when the laws are already in place to freeze and apply a haircut to their bank balance.  All done with a few key strokes, lower cost + much higher return.

No i dont live there, but still it is very funny because even if the dealer doesnt collect, the bank might have the info necessary. Or the dealer keeps a record of his customers for whatever reason.

I`m not sure, but i figure it's not that hard to get a list of past gold buyers, because the info is out there.


PS. Bank accounts will be wiped instantly, no question about that, then they come after the gold.

[Betwrong]

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.

I believe that in 10 years the price of Bitcoin will rise at least tenfold. No one would definitely say that about gold. Ok, we can have an inflation and the price of gold in USD might rise tenfold then, but I'm talking about the real value. So it's better to put it like this:

In 10 years from now you can buy with one Bitcoin ten times more of gold than you can buy now.

just my opinion ofc. )

Sure... we all should dream. Longer term, maybe 3 years bitcoin will outcompete any currency for sure.

I suspect you might be saying this with sarcasm, but this doesn't mean your words are not true. I'm not saying Bitcoin will outcompete any currency but it will be on the level of the best.

[futurebit640]

For long term investment purpose I will surely go with gold because surely gold prices will go up over the time but its prices moves very slow. And also I buy BTC but not for long term because btc do not have any solid foundation that high prices may survive for long term so I usually buy at low and sell when I make some profits. Btc is good for making profits from trading instead invest and wait for long time.

[raaajlucky]

For long term investment purpose I will surely go with gold because surely gold prices will go up over the time but its prices moves very slow. And also I buy BTC but not for long term because btc do not have any solid foundation that high prices may survive for long term so I usually buy at low and sell when I make some profits. Btc is good for making profits from trading instead invest and wait for long time.

That is good think to go with gold for long term investments because btc price no one can predict what will happen after few years.

[adadaorlina]

I like both..

[Djisamsoe]

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.

I believe that in 10 years the price of Bitcoin will rise at least tenfold. No one would definitely say that about gold. Ok, we can have an inflation and the price of gold in USD might rise tenfold then, but I'm talking about the real value. So it's better to put it like this:

In 10 years from now you can buy with one Bitcoin ten times more of gold than you can buy now.

just my opinion ofc. )

Sure... we all should dream. Longer term, maybe 3 years bitcoin will outcompete any currency for sure.

I suspect you might be saying this with sarcasm, but this doesn't mean your words are not true. I'm not saying Bitcoin will outcompete any currency but it will be on the level of the best.

No, i doubt it was sarcasm. I think that if not in 3 years but maybe in 13 years Bitcoin will be in mainstream. It doesn't mean that fiat currency will collapse. Will be place for all of the payment methods. Just power and popularity of some will fall for the benefit of Bitcoin. Gold probably will stay on same or similar position like now.

[lexuz]

For long term investment purpose I will surely go with gold because surely gold prices will go up over the time but its prices moves very slow. And also I buy BTC but not for long term because btc do not have any solid foundation that high prices may survive for long term so I usually buy at low and sell when I make some profits. Btc is good for making profits from trading instead invest and wait for long time.

That is good think to go with gold for long term investments because btc price no one can predict what will happen after few years.

So do you think gold price will up and never goes down, two year ago gold is coming strong and this years gold price drop 30-40%. i think still better bitcoin, you can take benefit because market is fast and active

[raaajlucky]

I will go for both Bitcoin and gold because both have different benifits in investments.

[AtheistAKASaneBrain]

For long term investment purpose I will surely go with gold because surely gold prices will go up over the time but its prices moves very slow. And also I buy BTC but not for long term because btc do not have any solid foundation that high prices may survive for long term so I usually buy at low and sell when I make some profits. Btc is good for making profits from trading instead invest and wait for long time.

That is good think to go with gold for long term investments because btc price no one can predict what will happen after few years.

So do you think gold price will up and never goes down, two year ago gold is coming strong and this years gold price drop 30-40%. i think still better bitcoin, you can take benefit because market is fast and active

I think people that think gold only goes up is delusional. The gold supply is not as scarce as people think.. and when technology increases, when we start sending mining machines into other planets and asteroids, we may discover a place that's full of gold. When that happens, a crash is guaranteed, because of bigger supply. On the other hand, Bitcoin will never suffer from that because it's just math.

[LuckyYOU]

Bitcoin, I know it has it's ups and downs but if I had to put bitcoin away for 10 years,

I believe that I would make some nice profits out of those bitcoins.

[keithers]

With the way the economy is heading (in the United States at least), I think you would be best off if you can have both.

The US seems to keep printing more and more money and pretty soon USD will probably equal monopoly money