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Author Topic: Bitcoin as a better store of value than gold  (Read 13584 times)
maxamus
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January 09, 2019, 09:23:13 PM
 #101

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.

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January 09, 2019, 11:03:49 PM
 #102

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

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January 10, 2019, 01:31:55 AM
 #103

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.
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January 10, 2019, 02:33:18 AM
 #104

I agree that bitcoin is a better place to store than gold because bitcoin is nothing fake and its value will continue to increase from time to time.

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January 10, 2019, 06:42:29 AM
 #105

I do not agree with you.
Your private key may be stolen. You can lose it. What then will be the evidence?
Gold is an excellent means of storing your funds. You must be VERY rich in order for your gold to inconvenience you in storage.
And do not forget that gold is a more stable means of storage, in contrast to the BTC.
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January 10, 2019, 06:52:15 AM
 #106

I do not agree with you.
Your private key may be stolen. You can lose it. What then will be the evidence?
Gold is an excellent means of storing your funds. You must be VERY rich in order for your gold to inconvenience you in storage.
And do not forget that gold is a more stable means of storage, in contrast to the BTC.
For now I think holding Bitcoin is a very good long-term investment, because BItcoin prices are very cheap on the market, so long-term investment is a good choice, Bitcoin's history is always repeated, prices will rise dramatically after last year's long decline.

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January 10, 2019, 11:52:24 AM
 #107

maybe nowadays bitcoin dominates more than gold because Bitcoin has a promising exchange rate. but I can't speculate well because the bitcoin system still has a lot to prove compared to gold that has proven its value over a very long period of time.

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January 12, 2019, 08:21:27 PM
 #108

I agree that bitcoin is a better place to store than gold because bitcoin is nothing fake and its value will continue to increase from time to time.
That’s true investing in bitcoin is safe As compare to put your money in gold. In old age people gold has good value but now its modern age we will have to change our mind with time. New technologies have sadder system than that of old ones. Better is to trust only bitcoin and don’t waste your money on purchasing gold and silver.

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January 12, 2019, 08:45:48 PM
 #109

I agree that bitcoin is a better place to store than gold because bitcoin is nothing fake and its value will continue to increase from time to time.
That’s true investing in bitcoin is safe As compare to put your money in gold. In old age people gold has good value but now its modern age we will have to change our mind with time. New technologies have sadder system than that of old ones. Better is to trust only bitcoin and don’t waste your money on purchasing gold and silver.
I don't really think it is better to invest on cryptocurrencies over gold because it is not having very stable value since it was created even if the value increase a lot when someone want to store their value and something they will expect much stable value as when they invested cryptocurrency will not fall into that category.

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January 12, 2019, 09:12:45 PM
 #110

maybe nowadays bitcoin dominates more than gold because Bitcoin has a promising exchange rate. but I can't speculate well because the bitcoin system still has a lot to prove compared to gold that has proven its value over a very long period of time.
the potential is indeed promising, but price movements still cannot convince consumers for real stability.

For some people, this is very unpleasant for things that continue to have added value. Gold is still the top asset because even though there are binding policies, authentic assets can still be jointly accounted for.

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January 12, 2019, 09:26:58 PM
 #111

I think that most of the investments will soon be concentrated in the digital currency, because it makes it possible to earn not only more, but also a lot faster. Therefore, I have long transferred all my money from gold to bitcoin.

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January 12, 2019, 09:29:34 PM
 #112

OP argues that bitcoin is a better SoV because its easier to use as a medium of exchange.
the foolish part is those that want to remove/inhibit/stall its MoE utility to be just a SoV

by removing/stalling/ sidestepping its MoV. by letting people play with promissory unconfirmed tx's on another network and requiring vaulting up coins to even use that other network. is not going to gain value of bitcoin.

vaulted up coins(8 decimals) locked in fortknox(factories) to then play with unaudited promissary transaction mediums(unconfirmed 12decimal tx's) is the same business plan of banks using paper money that 'represents' gold in the 18th century

many coins will have the same feature of using these other network mediums.
so with less bitcoin unique-ness and yet costing more for people to actually transact on the actual bitcoin network. people will not want to store value in bitcoin if it becomes cheaper to exit the other network via other coins.

people need to look beyond fluffy pony dreams and take a critical look at how things will play out.

store of value purely because store of value does not make store of value more valuable


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January 13, 2019, 12:34:13 AM
 #113

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.


Gold already become store of value for centuries and people still trust on gold. Bitcoin is new investment instrument and not many people know and trust on bitcoin because they can touch it. Its virtual investment but its true that bitcoin more secure than gold and more flexible

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January 13, 2019, 09:03:48 AM
 #114

Gold has a millennia-old history of storing value.
Whereas in the eyes of the public, bitcoin has a history of storing $18,000 of value and turning it into $3,000.
We need a better value proposition.

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January 13, 2019, 02:16:52 PM
 #115

I find it astonishing both gold and bitcoin share the identical history, first it is about mining, then some very rich fella spend a lot to build better mining tools, then it become a booming industry. I prefer both share the same trait of store of value.

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January 13, 2019, 03:41:00 PM
 #116

That's the problem where it not being control by government and that's also the reason for them to not legalize bitcoin as payment transaction.
Invest on bitcoin is like invest on something risky so if you dare to take the risk, bitcoin can give you more than ordinary legit investment.

Personally after I made profit from crypto, I try to invest on other platform, not in crypto !

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January 13, 2019, 03:50:39 PM
 #117

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.
Of course bitcoin and gold have different properties because gold can be held while bitcoin cant be. However, the possibility for bitcoin to have the most quality properties as store of value than gold in the future once bitcoin reach the total 21 million coins to ever mine.

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wow.magic
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January 13, 2019, 06:23:43 PM
 #118

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.
I agree with you it is both good investment but in different criteria, gold is more stable value than bitcoin. Bitcoin is unpredictable, the value and very risky but it is profitable when hits the bull.
squatter
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January 13, 2019, 10:48:21 PM
 #119

OP argues that bitcoin is a better SoV because its easier to use as a medium of exchange.
the foolish part is those that want to remove/inhibit/stall its MoE utility to be just a SoV

That sidesteps his point though, doesn't it? Even if you believe that on-chain scaling is superior to off-chain, we should be able to agree that Bitcoin's properties make a superior medium of exchange to gold.

by removing/stalling/ sidestepping its MoV. by letting people play with promissory unconfirmed tx's on another network and requiring vaulting up coins to even use that other network. is not going to gain value of bitcoin.

Actually, it probably will. The more people that buy coins to lock them in LN channels, the more supply that is removed from the market. That should increase prices.

I don't think LN is ideal, but neither is Bitcoin's decentralized design. Decentralization is inefficient and costly. It's pretty amazing that LN could leverage Bitcoin's security while sidestepping those costs.

many coins will have the same feature of using these other network mediums.
so with less bitcoin unique-ness and yet costing more for people to actually transact on the actual bitcoin network. people will not want to store value in bitcoin if it becomes cheaper to exit the other network via other coins.

Altcoins that are cheaper to transact with have been available for many years now. If what you're saying were true, everyone would have exited exchanges with altcoins rather than bitcoins. Yet Bitcoin is still #1, in spite of its expensive costs. Why so?

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January 13, 2019, 11:03:22 PM
 #120

It certainly attracts. The possibility of unlimited ownership and the knowledge that no one can control your funds. In this regard, bitcoin is very good. But you must be able to cope with risks, otherwise such storage of your assets will not be safe.

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