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Author Topic: Bitcoin as a better store of value than gold  (Read 13377 times)
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January 13, 2019, 11:39:14 PM
 #121

I agree with you as Bitcoin gives us the opportunity to earn very well and much more than you can do it thanks to gold

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January 14, 2019, 12:13:10 AM
 #122

I disagree with you. Yet gold is much more stable than Bitcoin and I think that at the moment they prefer to keep their money in gold
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January 14, 2019, 12:57:09 AM
 #123

Why should it be compared between bitcoin and gold, even though they have different functions. Gold has the main function for the most stable conductor of electricity so that it is widely used for electronic devices. While bitcoin is only a digital number, the transaction is guaranteed by Miner. Okay, I agree bitcoin is easier to save than gold, but the risk of damage to technology devices is higher than saving gold.

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January 14, 2019, 01:10:26 AM
 #124

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.
Yes.Bitcoin definitely has a better store of value than gold but the risks its brings is higher than gold.Bitcoin and gold are really good store of value although they differ in their functions.For me,i think bitcoin gives more opportunities to people to gain huge profits but let us consider too that gold has also a lot of good advantages even before bitcoin has not recognized.

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January 14, 2019, 02:32:01 AM
 #125

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.

your turning into a flip flopper
you want to one minute say bitcoin is better than gold at MoE... but then say YOU say
"Bitcoin's decentralized design. Decentralization is inefficient and costly"

i fully understand you prefer centralisation, along with your buddies. that has been obvious for near a year of you and your buddies "dev defense" meanders.
but putting your opinions aside about your admiration for centralisation.
going centralisation(middlemen factories) in general removes desirability of bitcoin. people will start thinking its no better than fiat
locking funds up removes self control
locking funds up removes desire for people to want to be full nodes. which reduces security
locking funds up reduces onchain fees as theres less onchain utility makes miners less profitabl thus reduces security
along with many other things which i could continue listing makes btc less desirable and leads to people wanting to exit and use other coins.
all of which make btc have less value

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.
this opinion of yours has flaws, ill explain.
1. out of all the coins not much are actually on exchanges. so the effect you think is not as much as you think
2. if anything. it wil be people on exchanges who will avoid exiting exchanges and instead lock into a channel with an exchange to be able to arbitrage faster. thus there would actually be more 'balance' on exchanges, because LN will benefit day traders more then it would average joe just buying occassional stuff

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.
LN doesnt leverage bitcoins security, onc you update yourself with the 2018-2019 concepts and code of LN in regards to factories. the users are not even holding bitcoin. they are holding a 12decimal pegged token.
remember LN is a separate network and bitcoin had to change to fit LN's needs. not the other way round
LN has no blockchain. LN has no community audit. LN requires people to be online, LN requires people to sign on your behalf.
LN has none of the bitcoin ethos/features that secure bitcoin.
its like trying to assume bank notes are the same as gold. think about that in respect of the 18th century.. then play it out 200 years later and see the flaw of bank notes and gold


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?
bitcoins PRICE is higher due to the underlying value held up via mining costs. there is hardly any 'speculative' value ontop due to peoples faith and boost due to desirability.
take people off the network. making it costly to use the bitcoin network and all the other reason will reduce the desire to mine it which will make bitcoin not as popular

again take utility away from the MINING network of a blockchain will cause the underlying support of the mining:market dynamic. which will affect its underlying value.

if you think bitcoin would remain top when other coins can do the same thing but without the restrictions applied to bitcoin. people will move to the coins with less restrictions.

remember bitcoin network is only stalled and costly. not due to some technological limit. but an implied limit by humans(devs)
again to quote you. you said:
"Bitcoin's decentralized design. Decentralization is inefficient and costly"
it is developers that put in the restrictions to make it inefficient and costly

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January 14, 2019, 01:12:16 PM
 #126

Yes I agree with you. Bitcoin is better for holding than gold. Bitcoin is virtual currency but gold is not. Bitcoin is more secure than gold. We can buy and sell bitcoin any time. But we cant sell gold anytime because selling gold need some precess. And holding gold is not secure because it can stolen any time. But holding bitcoin is risky than gold because bitcoin price is always increase and decrease. But in my opinion bitcoin is better store of value than gold.
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January 14, 2019, 03:22:20 PM
 #127

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.




Not unless bitcoin is regulated by the government, then they have the power and controll over it. Regards with the store value, i would rather have bitcoin than gold because when emergency comes, i cannot lift all my gold but i can open my bitcoin account anywhere with internet. How convinient.

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January 14, 2019, 03:36:24 PM
 #128

Bitcoin and gold are interesting store of value, but which one is best depends on the individual who uses it, and between the two has advantages and disadvantages of each.

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January 14, 2019, 08:23:05 PM
 #129

I would not support this claim I don't think bitcoin is a better store of value than gold.
In fact in terms of instability gold is far much stable in price than bitcoin

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January 14, 2019, 09:58:55 PM
 #130

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.

your turning into a flip flopper
you want to one minute say bitcoin is better than gold at MoE... but then say YOU say
"Bitcoin's decentralized design. Decentralization is inefficient and costly"

These positions aren't at odds.

Bitcoin is transferable over a communications channel. It's portable, divisible and easy to store. This gives it better features than gold with regards to being a medium of exchange.

Decentralization is achieved through redundancy. This is inefficient and requires higher costs than any centralized scheme.

How do these statements contradict one another?

i fully understand you prefer centralisation, along with your buddies. that has been obvious for near a year of you and your buddies "dev defense" meanders.
but putting your opinions aside about your admiration for centralisation.

Lightning uses a P2P protocol based on distributed redundancy, just like Bitcoin. That you keep mischaracterizing it as "centralisation" is simply dishonest.

Anyway, LN network topology isn't relevant to the question of trustlessness, which is the goal of Bitcoin. If we can retain node decentralization in Bitcoin, I think using LN -- even if a more centralized topology emerges -- is the best available option.

If you had your way, a small minority of users (miners) would have blocked all users from ever having the choice to use trustless, off-chain alternatives like LN. You want to restrict the choices of all Bitcoin users and force everyone to transact on-chain. You're obviously not concerned about centralization of Bitcoin nodes, either.

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January 14, 2019, 10:11:14 PM
 #131

I would not support this claim I don't think bitcoin is a better store of value than gold.
In fact in terms of instability gold is far much stable in price than bitcoin
When it comes to price stability,  gold are have it but it's value today, bitcoin is to far from it. People are so considerate with the price and they probably choice for bitcoin rather than for gold as they could gain more profits.
The practicality we have now will surely brought people to think that bitcoin is more valuable than of gold, and it shown it already.
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January 14, 2019, 11:09:24 PM
 #132

I would not support this claim I don't think bitcoin is a better store of value than gold.
In fact in terms of instability gold is far much stable in price than bitcoin
When it comes to price stability,  gold are have it but it's value today, bitcoin is to far from it. People are so considerate with the price and they probably choice for bitcoin rather than for gold as they could gain more profits.
The practicality we have now will surely brought people to think that bitcoin is more valuable than of gold, and it shown it already.
I also believe that bitcoin has a better store of value than gold because a single bitcoin is equivalent to a more quantity of gold.And way back in the year 2017,many have gained huge profits in bitcoin that made them even millionaires while gold has remained a constant value even up to the present times.The only disadvantage for bitcoin is that its price gradually changes every now and then so people cannot expect good profits all the time.

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January 15, 2019, 02:32:28 AM
 #133

Well, I don't think bitcoin has a better store of value than gold. This is a wrong comparison. Gold has its own range of items that you can compare to but not bitcoin. On the other end, bitcoin presents financial freedom to everyone. One thing people need to understand is that Bitcoin is not an asset, its just a digital currency to help present financial freedom to everybody. People needs to get this fact right.

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January 15, 2019, 03:55:14 AM
 #134

I would not support this claim I don't think bitcoin is a better store of value than gold.
In fact in terms of instability gold is far much stable in price than bitcoin
When it comes to price stability,  gold are have it but it's value today, bitcoin is to far from it. People are so considerate with the price and they probably choice for bitcoin rather than for gold as they could gain more profits.
The practicality we have now will surely brought people to think that bitcoin is more valuable than of gold, and it shown it already.
I also believe that bitcoin has a better store of value than gold because a single bitcoin is equivalent to a more quantity of gold.And way back in the year 2017,many have gained huge profits in bitcoin that made them even millionaires while gold has remained a constant value even up to the present times.The only disadvantage for bitcoin is that its price gradually changes every now and then so people cannot expect good profits all the time.
I think it's not about which is more expensive between bitcoin and gold, our concern is which is safer to maintain the value of your money for a long time, and we know that bitcoin has very fast fluctuations, how can it make bitcoin a good store of value, if the price have fluctuates? I think gold is much better
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January 15, 2019, 04:18:07 AM
 #135

Only one thing why many people keep investing their money at bitcoin than gold because bitcoin have speculative price than gold, look and check how many time bitcoin could growing up and down price, but for gold have little change price.


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January 15, 2019, 04:22:06 AM
 #136

Yes, Bitcoin is better than gold to reserve because bitcoin will have a great future and it is fixed supply compare to gold that's why bitcoin is still better to restore than gold.

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January 15, 2019, 05:16:38 AM
 #137


From the point of view of the possession of their funds, bitcoin wins on all counts.
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January 15, 2019, 06:42:16 AM
Last edit: January 16, 2019, 08:33:24 AM by Xk80jq
 #138

  The value of gold is not a good right now because of
Over stocks in the market. Since bitcoin is the latest and the new era of opportunities ,even if it is a high risk, because of the mobility and volability of the market, we a chances to success. Business is like a gambling you cannot success if you can tested.











 



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January 15, 2019, 08:36:08 AM
 #139


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.


What was removed, stalled, or side-stepped? You can use Bitcoin on-chain transactions all day, everyday. Go have a ball.

Quote

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


What are you talking about? Bitcoins sent through the Lightning Network are not "promisory transaction mediums", there are no "promises to pay", they are Bitcoins.


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January 15, 2019, 08:44:40 AM
 #140

Bitcoin is digital gold that can hit the financial world so many banks don't like it. Bitcoin does have a decentralized nature that cannot be controlled differently from gold which has a real physical and weight, but gold storage must be safe and requires real and feasible space. Bitcoin is sometimes less secure than hackers but has more security if we can store it well and wisely.
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