tenakha
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January 04, 2019, 01:04:28 PM |
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Bitcoin still has its own weaknesses. It remains very new and experimental compared to gold which was around for thousands of years. There's no guarantee that Bitcoin won't get replaced, that there aren't any hidden major flaws (just in the last year a dangerous bug was found, we just got lucky that the good guys did it first), that the underlying cryptography is 100% secure. And being digital is a disadvantage in scenarios like nuclear war.
But overall, volatility remains the biggest weakness, if not for it, Bitcoin would be very competitive with gold, because all the factors that I've mentioned are very unlikely to happen.
I agree with your opinion, using a volatile price as value store is so risky. Today it is not even 1% of the bitcoiners that store it without paying attention to the price. Everybody just wants to make more money. But the price of gold is more stable and if you are looking for the asset to keep your money safe, gold looks better.
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miropp
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January 04, 2019, 06:16:17 PM |
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From the point of view of the possession of their funds, bitcoin wins on all counts. In this case, you are sure that no one but you cant control your money and it's very good. But storing your funds in bitcoin is a bad idea. Because it is still very volatile and you may lose some of your money. But it's not bad if you use it for other purposes.
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Msworld83
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January 04, 2019, 07:22:06 PM |
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Decentralized is more needed than anything in the world which everyone need for their personal life and government controlling the affair of people is over done and bitcoin gives that decentralized to people which makes it more unique tan gold and was very volatile too which some see as it disadvantage than gold .
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drumamat
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January 04, 2019, 10:50:37 PM |
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In my country there is no restriction on the storage of gold at home. How much do you want so much and keep.Bitcoin is to some extent even better than gold,but the only drawback that bitcoin has is its volatility.I agree that since the emergence of bitcoin and to this day it has increased in price many times.Since I am an avid supporter of cryptocurrencies in any case,I would prefer to keep my savings in bitcoin, but ordinary people do not even know what bitcoin is and what prospects it represents.Therefore, it is easier for ordinary people to buy gold or put money in the Bank for dividends than to buy bitcoin.I hope many will come to their senses and begin to invest in bitcoin and not in gold.
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Lexurdania
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January 05, 2019, 12:41:15 AM |
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Wouldn't gold's physical nature be a real weakness because it could cause a "centralization in vaults" problem? How much gold can an individual legally own and store in your homes in your country?
Then there is Bitcoin. It is virtual, and it opens a world of private key ownership, and therefore, true sovereign ownership of private property which governments cannot control.
Bitcoin and gold have their own advantages and weakness. Bitcoin as store of value more flexible and secure than gold, we can carry bitcoin without a lot space and its hack our bitcoin as long we keep our private key. Gold more accepted by most people because its already popular for centuries
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kerjakuat
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January 05, 2019, 01:16:46 AM |
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Gold are a good investment as the price are more stable and the other hand the price of bitcoin are very volatile this day and very risky but also very profitable if it hit a bull. So both is a good investment with it own risk.
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mangsitin
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January 05, 2019, 01:30:27 AM |
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Gold are a good investment as the price are more stable and the other hand the price of bitcoin are very volatile this day and very risky but also very profitable if it hit a bull. So both is a good investment with it own risk.
Yes, right, Bitcoin is very volatile when prices rise and fall very sharply, so there are two possibilities, namely big profits and big losses. And when talking about the price of gold is likely to be stable, it's not too risky to invest in Gold, but if you want quick profits, I think Bitcoin is the place.
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pooya87
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January 05, 2019, 03:51:56 AM |
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Wouldn't gold's physical nature be a real weakness because it could cause a "centralization in vaults" problem? How much gold can an individual legally own and store in your homes in your country?
there is always a lot of people who want that "physical form" that they can touch and physically hold in their hands so that they can believe it exists. otherwise of course that is the least convenient thing not to mention risky. Then there is Bitcoin. It is virtual,
a better term to explain what bitcoin is, is "digital" instead of "virtual".
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Dr.Osh
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January 05, 2019, 04:49:20 AM |
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Gold are a good investment as the price are more stable and the other hand the price of bitcoin are very volatile this day and very risky but also very profitable if it hit a bull. So both is a good investment with it own risk.
precisely. both are very good investments, but risky. however, the potential of bitcoin is indeed faster compared to gold, however, gold has a smaller risk, and is stable compared to bitcoin. for now, I might prefer gold.
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traderethereum
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January 05, 2019, 06:05:07 AM |
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Wouldn't gold's physical nature be a real weakness because it could cause a "centralization in vaults" problem? How much gold can an individual legally own and store in your homes in your country?
I don't know how much gold we can keep in our homes because I think it will be different from one country to another country. But I heard that we could store gold in the safety box in the banks so we can use their services by paying some fees. Then there is Bitcoin. It is virtual, and it opens a world of private key ownership, and therefore, true sovereign ownership of private property which governments cannot control.
I won't compare between bitcoin and gold because it's different and both bitcoin and gold have pros and con. People in out there still prefer to store gold because they don't know about bitcoin. But for people who know bitcoin, they will save bitcoin and gold at the same time, and they use both bitcoin and gold as their investment.
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Ridwan Fauzi
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January 05, 2019, 06:16:29 AM |
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Gold are a good investment as the price are more stable and the other hand the price of bitcoin are very volatile this day and very risky but also very profitable if it hit a bull. So both is a good investment with it own risk.
precisely. both are very good investments, but risky. however, the potential of bitcoin is indeed faster compared to gold, however, gold has a smaller risk, and is stable compared to bitcoin. for now, I might prefer gold. High risk and high profit, small risk and small profit. Those are a choice for every investor who should be thought through carefully, don't just want to get a big profit but he is not ready for big risks or wants to get a big profit with only small risk. Bitcoin and gold are very different in my opinion, from the way of investing or from the process of getting profit is very different, I slightly disagree when someone says bitcoin is digital gold, it will never happen. Bitcoin is a digital currency, not precious metal. Hopefully, every investor can get these two investment places.
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Kakmakr
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January 05, 2019, 07:04:32 AM |
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I think the worst part of owning physical Gold are the paper trial it leaves behind. History in the USA has shown that Gold ownership can be restricted or banned, if the government wants to do that. It will be easy for these governments to track down Gold owners based on the paper evidence and then confiscate that Gold, if they wanted to. Bitcoin owners protect their wealth with pseudo anonymity and no government can touch it, no matter how corrupt they are. Once they start banning it, Bitcoin owners can transfer it to someone in another country and they can simply relocate to their wealth. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Try doing that with physical Gold. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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BitcoinHodler
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January 05, 2019, 07:08:14 AM |
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I won't compare between bitcoin and gold because it's different and both bitcoin and gold have pros and con. People in out there still prefer to store gold because they don't know about bitcoin. But for people who know bitcoin, they will save bitcoin and gold at the same time, and they use both bitcoin and gold as their investment.
it is a mistake to compare bitcoin of today with gold of today and then talk about their pros and cons like this. most of the "cons" that you think bitcoin has comes from it being brand new and fresh in the market. it just turned 10 while gold has been around for hundreds of years and have been used as a store of value just as long.
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Holding Bitcoin More Every Day
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Babyrica0226
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January 05, 2019, 08:00:16 AM |
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Wouldn't gold's physical nature be a real weakness because it could cause a "centralization in vaults" problem? How much gold can an individual legally own and store in your homes in your country?
Then there is Bitcoin. It is virtual, and it opens a world of private key ownership, and therefore, true sovereign ownership of private property which governments cannot control.
Why bitcoin always compared into Gold? it is actually, that bitcoin was a virtual type while the other one was a physical Gold. They are really differ to one another, when it comes to their price value, it is already surpassed by Bitcoin a years ago as far as I know. Maybe for other's community here they assume Bitcoin as one of the virtual or digital gold.
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squatter
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STOP SNITCHIN'
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January 05, 2019, 08:41:55 AM |
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Wouldn't gold's physical nature be a real weakness because it could cause a "centralization in vaults" problem? How much gold can an individual legally own and store in your homes in your country?
Then there is Bitcoin. It is virtual, and it opens a world of private key ownership, and therefore, true sovereign ownership of private property which governments cannot control.
Bitcoin might be prone to the same "centralization in vaults" problem. Even in these early days, Xapo is holding billions of dollars worth of BTC in its vaults. Imagine what will happen when we start seeing established, high volume physically settled futures markets like gold has. There's an erroneous assumption often made that Bitcoin investors want to personally secure the coins they buy. The more established it gets as an asset class and the more valuable it becomes, the more traditional and institutional investors enter the market. These investors want institutions to provide custody services. They don't want to "be their own banks."
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Tavarez
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January 05, 2019, 08:49:47 AM |
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In my opinion yes, because new amounts of gold will surge the price down and discovery of mineral can happen any time while with btc the story is different (asset which is not physical but still amount/number is limited). Also not controlled by governments *at least I tend to believe this*. So my vote goes for bitcoin.
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Bonsaiav
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January 05, 2019, 09:08:39 AM |
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The amount of bitcoin circulating's very limited which is only 21 million pieces. Meanwhile, until now gold is not yet known what the exact total number is, so the price of gold tends to be easier to manipulate. Then there is Bitcoin. It is virtual, and it opens a world of private key ownership, and therefore, true sovereign ownership of private property which governments cannot control.
We certainly are already familiar with the statement that bitcoin is better than gold, especially for users who have known for a long time the positive characteristics of bitcoin. As long as bitcoin exists, it always provides many benefits for its users because it's fast, safe, decentralized, gives privacy and transparency to users, and puts users able to control their own money.
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whiteblue
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January 05, 2019, 09:23:28 AM |
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even though bitcoin is better than gold but you have to know at this time many don't know about using bitcoin to do shopping and now the price of gold is more expensive than bitcoin, bitcoin should be as expensive as gold but there are still many pros and cons to make bitcoin difficult to beat the circulation of gold prices.
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ballerin and giroud
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January 05, 2019, 10:30:51 AM |
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even though bitcoin is better than gold but you have to know at this time many don't know about using bitcoin to do shopping and now the price of gold is more expensive than bitcoin, bitcoin should be as expensive as gold but there are still many pros and cons to make bitcoin difficult to beat the circulation of gold prices.
It depends on someone who has bitcoin and for those who have gold. You say bitcoin is better than gold because you are a bitcoin investor, but for those who choose to invest in gold will say gold is better than bitcoin. Logically, these two opinions are not wrong, they have their true side. However, gold and bitcoin are options for you to invest, both of which can give their investors an advantage.
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iqlimasyadiqa
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January 05, 2019, 10:41:24 AM |
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even though bitcoin is better than gold but you have to know at this time many don't know about using bitcoin to do shopping and now the price of gold is more expensive than bitcoin, bitcoin should be as expensive as gold but there are still many pros and cons to make bitcoin difficult to beat the circulation of gold prices.
I even see that the existence of bitcoin is increasing, even the price movements every year go far beyond what happens to gold. Bitcoin is far more interesting and in this digitization era, the flexibility that Bitcoin has is an advantage that is difficult for gold to face. but everyone must have their own opinions. we all need to be able to take advantage of every situation that exists, personally I prefer bitcoin compared to gold. maybe if calculated then I will choose bitcoin as much as 80 percent and the rest I use to buy gold.
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