Bitcoin as a better store of value than gold

[mitchr4]

For Bitcoin it is free of regulation so that people can store as much as possible without being taxed at all. Whereas Gold becomes a legitimate investment in every country and is bound by governments rules such as being taxed so that every person has a limit to own it.

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[OnceTwiceThird]

Between bitcoin and gold investment I think bitcoin is better because bitcoin have speculative price day by day, check how many time bitcoin some time at lower price and then could be higher price, we will get much profit if make investing at bitcoin than gold.

[dreamax25]

Bitcoin still needs to overcome two distinct obstacles before it becomes a serious contender as a store of value.
First it needs to find a way to mitigate the high volatility of its price on the market, if that happens, and price fluctuations eventually become considerably less extreme, it will have to tackle the second challenge, of educating people as well as certain institutions that storing a part of their wealth in BTC could be in their best interest, depending on their individual situation.

https://coincodex.com/article/2797/bitcoins-potential-as-a-store-of-value/

[jademaxsuy]

Well this could not be generalize because we know gold is one a stable in terms of demand and its market price. As time pass by the value of gold get higher also the same as with bitcoin. However, bitcoin may experience a downfall of its market price value as to what happen on 2017 after reaching its peak market price which is 19K USD.

Yet, Bitcoin is one of a kind of form of investment. Bitcoin has unique value for it is being dictated by its demand and supply. The greater users demand the higher its market price for bitcoin will be and it could just happen in a short span of time likewise when users demand gets low. Bitcoin is PUMP and DUMP.

[Akpuv]

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.

Your points are great. Bitcoin is very easy to manage and carry around everywhere you go or anywhere you may be irrespective of the quantity of the coin you may have. Gold is bulky and difficult to protect too from theft.

[coinwizard_]

The problem is with hiding it. You don't want to travel around with several bags of gold in your saddle. All you need now is a smart phone and a bitcoin wallet and you can travel with millions of dollars in btc

[jakasantosa]

Bitcoin as a better store of value than gold are right fo people who know about bitcoin. But for people don't know about bitcoin they will say gold is better store of value than bitcoin. So i think  that is deppend knowlegde about bitcoin.

[maldini]

Of course Bitcoin has price fluctuations faster than gold, everyone knows this. And the problem is not the centralization of safes, everyone can place gold anywhere, and even banks can be a place to store gold

[wxa7115]

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.

That has been the problem for gold from the beginning, the governments of the world hold the most gold and they are not going to sell it to anyone so if for some reason they decide to abandon fiat currencies and use gold backed currencies they will still be in control of the economy and they could make the possession of gold illegal again as they have done in the past, this is why cryptocurrencies scare them since they cannot control them.

It is possible they will try the same strategy they used to defeat gold against bitcoin but when you can move all your bitcoin from one side of the world in a piece of paper that no one would notice then you know they will be unable to make bitcoin illegal and force people to comply.

[Xardasim]

Bitcoin is just growing so it looks very valuable, gold has been around for thousands of years and has a fixed value. Many people are turning to bitcoin because it is considered to provide more tangible benefits for holders who are good at managing it.

On the other hand, would you risk your money? Gold has been available for years and the price volatility is slower, so the risk is less.
Bitcoin is also available, but I can't risk the money I have earned for years, I can only risk some of my money in Bitcoin.

[squatter]

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.

That has been the problem for gold from the beginning, the governments of the world hold the most gold and they are not going to sell it to anyone so if for some reason they decide to abandon fiat currencies and use gold backed currencies they will still be in control of the economy and they could make the possession of gold illegal again as they have done in the past, this is why cryptocurrencies scare them since they cannot control them.

What stops governments from accumulating cryptocurrency reserves the same way? I've always assumed that if Bitcoin became a traditional asset alongside gold that this would eventually happen. If BTC were widely accepted and demanded like gold, it would have similar properties from a hedging standpoint: It's decentralized and thus not reliant on any state economy.

It is possible they will try the same strategy they used to defeat gold against bitcoin but when you can move all your bitcoin from one side of the world in a piece of paper that no one would notice then you know they will be unable to make bitcoin illegal and force people to comply.

It's partly a question of how scared people are of their government. If the US made an Executive Order banning Bitcoin and began confiscating it like they did with gold in the 1930s, I'm sure a lot of people -- and institutions -- would comply. People keep lots of coins on deposit with exchanges, and in the future there will be ETF trusts and things like that. That represents a lot of coins that would be willingly handed over to the government.

[Biscutard]

Of course Bitcoin has price fluctuations faster than gold, everyone knows this. And the problem is not the centralization of safes, everyone can place gold anywhere, and even banks can be a place to store gold

We do have hardware wallet nowadays and it is easier to carry than carrying a gold with the same price value of gold with your cryptocurrency. Every aspects of pros and cons are already there, you can't create a perfect project which people wouldn't criticize. That is why we have to choose of what do we want and what do we need.

[arnelandvik]

Despite the fact that the gold standard sunk into oblivion a long time ago, at the moment bitcoin won't be a kind of panacea for the centralization of the monetary system

[Finestream]

Of course Bitcoin has price fluctuations faster than gold, everyone knows this. And the problem is not the centralization of safes, everyone can place gold anywhere, and even banks can be a place to store gold

We do have hardware wallet nowadays and it is easier to carry than carrying a gold with the same price value of gold with your cryptocurrency. Every aspects of pros and cons are already there, you can't create a perfect project which people wouldn't criticize. That is why we have to choose of what do we want and what do we need.

For me,bitcoin and gold are both a good store of value.I think a lot of people not just in the past but even in the present are craving to have gold collection.But knowing bitcoin,many people have been amazed of its own potentials that will make you even richer if you only know how to deal with it.Truly bitcoin owns the greatest store of value for now.But it won't be bad if you will have them both just to have reservation if ever one fails.

[cahbagus555]

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.

If bitcoin become store of value, its much flexible than gold because we dont need a lot place to store and its much secure than gold. Beside that, as cryptocurrency we can make transaction with others more easily because its peer to peer cryptocurrency

[Wind_FURY]

Who's removing "Bitcoin utility"?

Removing its feature as a medium of exchange?

I believe Bitcoin is not useful as a medium of exchange first, because of the opportunity costs. The users who might be willing to tolerate that cost might be the people who are using it for illegal transactions, in which not using Bitcoin might cost them more.

Gresham's Law is relevant here. If "bad money drives out good" then we should expect people to spend fiat currencies and less valuable cryptocurrencies before Bitcoin. Bitcoin has stronger monetary properties, therefore it's rational to hoard it rather than spend it assuming one has other money at his disposal.

Without scarcity of block space, there is no post-subsidy income guaranteed to miners. So we might have free transactions, but transaction security would evaporate, so the incentive system underlying Bitcoin would be broken. That would inevitably destroy its value as money.

The "Bitcoin as medium of exchange first" people are allowed to freely spend all their coins. No can stop them from doing it. Because Bitcoin is an open, and permissionless system/network.

What's their problem? Fees too high? Then use Segwit!

[Gary Levanevskii]

I think that bitcoin and gold have different properties. Bitcoin is more suitable for use in the digital world. I think that Bitcoin will be able to prove that it is digital gold.

[maxamus]

I think that bitcoin and gold have different properties. Bitcoin is more suitable for use in the digital world. I think that Bitcoin will be able to prove that it is digital gold.

Yes obviously both have pros and cons. BTC and gold are different. Bitcoin is the digital platform where we invest in and wait for sometime based on market value we get profit or loss. Gold is like investing on material and keeping it based on value we sell and earn profit. I believe bitcoin has good profit compared to gold because BTC is digital and can get huge profit market  value reaches high.

[Andam76]

everyone has a different view of bitcoin and gold ... some people choose to invest in gold because they feel they have gold and can sell whenever they want ... but some people who already know bitcoin will definitely invest in bitcoin especially those who have got the benefits of bitcoin

[kaizerblitz]

Yes bitcoin is better value to store compared to bitcoin is because bitcoin has a fixed market supply and bitcoin has a great future compared to gold with the help of blockchain technology nothing is impossible to bitcoin.