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Author Topic: Bitcoin as a better store of value than gold  (Read 17255 times)
MakeMoneyBtc
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March 12, 2019, 11:41:39 AM
 #281

Indeed because when you have gold, you can only carry enough amount that you can but with bitcoin, you can access anywhere in the world or anytime that is convenient to you. I think gold is more like a collection and btc really suits the store of value.
That's because you don't use gold to make your daily purchases and payments. You use it as a store of value, because its value remains stable and grows over the years. Of course bitcoin has a lot more advantages than bitcoin when we talk about making transactions, exchanging it and many other but the fact that it's price is so volatile makes it bad for a store of value.

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March 12, 2019, 01:44:48 PM
 #282

It can't be better store of value than gold when it is having high volatility on its price unlikely gold is one of the most stable asset on this earth so people can save their money in the form of gold bars without any fear but in bitcoin their holding value might decreased upto 10 times in less than a year or upside down as well.

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March 12, 2019, 09:08:40 PM
 #283

To me, bitcoin is a better store of value as said by the OP. I feel like I posses my BTC at hand more than when they were to be Gold which can be destroyed or stolen which BTC is not very vulnerable unless you make a mistake. Ownership of Gold means you have to carry it along when going to exchange whereas bitcoin does not need the owner to carry it in their full bags.
And also governments sort of control gold so the issue of centralization comes in here.

Service thread below

https://bitcointalk.org/index.php?topic=5162299.msg51726822#msg51726822
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March 13, 2019, 01:18:34 AM
 #284

Bitcoin is a better store of value as compared to gold because hundreds of Bitcoin can be stored safely on a single wallet, thus, making it handling much convenient. Gold occupy much space in storage and its handling its quite cumbersome especially when traveling with tonnes of gold.

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March 13, 2019, 01:31:35 AM
 #285

Bitcoin is a better store of value as compared to gold because hundreds of Bitcoin can be stored safely on a single wallet, thus, making it handling much convenient. Gold occupy much space in storage and its handling its quite cumbersome especially when traveling with tonnes of gold.

thats true but the risk of hodling too much bitcoin in your wallet is too much compare when you are storing alot of gold in your basement because hackers can stole all your bitcoin at one move while that wont be possible for gold because the gold is more heavier due its physical form  and you can easily catch a criminal offline because of cctv's while its hard to catch a hacker online because they are anonymous as they can use fake identity and other privacy tools  .
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March 18, 2019, 04:04:04 AM
Last edit: March 18, 2019, 05:52:02 AM by DigitalCyberius
 #286

*Physical nature a weakness?
It depends on how you look at it.
#1. one reason why people stash gold (preferably at home or another place they are guaranteed access, hidden & secure) is in case of a financial collapse or regional/national catastrophe, in which you may not have access to the internet or digital devices, which Bitcoin depends on. Also, there is a huge expected rise in silver and gold in the event of financial collapse. See Mike Maloney.
#2. physical gold is immediately exchangeable in many places, such as pawn shops & some jewelry shops, among other places, and is universally recognized for its value, whereas Bitcoin acceptance is still pretty scarce globally speaking.
#3. just saying, but gold does have actual physical properties used in medical, health, electronics, shielding, and more.
#4. there are actually some gold digitalization tokens in existence, which theoretically carry the same price value as gold, along with the advantages of being a digital currency.

*BECAUSE of a "centralization in vaults" problem?
#1. As stated, many people do not keep their gold in vaults.
#2. If you are going to use a vault, then I suppose so. It would really depend on how well you trust the bank or private company's vault in question.  

*How much gold can one own in their country?
Not sure actually, but the US did confiscate gold in the past. But countries have also attempted to make Bitcoin illegal. How much gold can you own in your country? Is there a limit? PS, the reason the US confiscated gold is because it has value, and fiat was in crises (which it still is).


*Bitcoin:
Purely digital and subject to internet access, acceptance, and digital devices which can get lost or broken; no intrinsic value; not widely or globally accepted; high fluctuating volatility; could continue to lose value; does not have thousands of years of historical use & value like gold and silver; etc. There's also potential digital dangers, some already apparent, and some, like quantum computers yet to come.


Which do you think is better?

Have a good day,
The Cyberius team.
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March 18, 2019, 04:27:07 AM
 #287

Both are great assets, and store of value. I would invest in both of them because they are extremely popular, fungible and are accepted by most people. Although Gold may need to be kept in storage, it holds tremendous intrinsic value. Bitcoin, on the other hand, is used as digital money and can be transferred from anywhere to anyone. Although transaction speeds are slow, Bitcoin works great as a dependable store of value just like Gold. In fact, it is even possible to exchange between the two.
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March 18, 2019, 03:50:14 PM
 #288

Featured between bitcoin and gold is how bitcoin could grow up faster than gold, how ever we need take about one years for check gold have higher price, but bitcoin could growing up just take one day or short term moment.

It has to be a combination of both if people want to have a little safe bet and invest accordingly so that can make the bests possible gain from both of the things . If people want to have little more risk than investing  in btc is a good option as in long run you will make more money than gold .

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March 18, 2019, 08:35:04 PM
 #289

Bitcoin could raised to higher price only in short time and different from gold or other investment kinds where needed long time raised to higher price, but bitcoin could dump lower than other investment like gold.
Bitcoin is more volatile than gold.

There will be some advantages and disadvantages for both but I'm into bitcoin so I'll support it.

--> https://blockonomi.com/bitcoin-better-store-of-value-than-gold/

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March 18, 2019, 09:08:05 PM
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 #290

Really, bitcoin is really a very safe, secured and less cumbersome store. Its value appreciates with demand and supply like gold, but as a young technology, bitcoin and indeed blockchain technology is set to revolutionize the world in all ramifications. Bitcoin is the next big thing in the world's financial sector. Indeed, cryptocurrency is something more than gold
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March 20, 2019, 05:02:06 AM
 #291


*BECAUSE of a "centralization in vaults" problem?
#1. As stated, many people do not keep their gold in vaults.
#2. If you are going to use a vault, then I suppose so. It would really depend on how well you trust the bank or private company's vault in question.  


Also: what about Bitcoins and other crypto getting stolen from exchanges?

Cyberius team.
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March 20, 2019, 06:23:03 AM
 #292

I believe that just like Gold not having any kind of paper writtings (proof of ownership or taxed or controlled by government) in the beginning proves that Bitcoin will surely follow it during some lifetime.
Right now we can feel government is still trying to achieve a 100% potential control over it.
But it's not easy to control bitcoin or any kind of cryptocurrency due to his own internet and network technology.

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March 20, 2019, 07:29:00 AM
 #293

In as much as I would want to believe that bitcoin is a better store of value than gold.
I still do think that when the factor of risk is factored in....that gold would be preferable .
The volatile nature of bitcoin is a weakness to it serving as a store of value.

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March 20, 2019, 11:59:02 AM
 #294

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.




Yeah i am completely agree with you.
It's better to invest in Bitcoins or cryptos rather than Physical assets like Gold etc.
The reasons you have stated are quite justified. No Government can control over pur virtual assets and we can store as much as we want. But the problem with Gold is that, there is a certain limitations upto which we can hold it.
If we hold more than that, then the government​ may claim it as black money.
So i am completely agree with your opinion.

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March 20, 2019, 07:42:58 PM
 #295

Indeed because when you have gold, you can only carry enough amount that you can but with bitcoin, you can access anywhere in the world or anytime that is convenient to you. I think gold is more like a collection and btc really suits the store of value.
That's because you don't use gold to make your daily purchases and payments. You use it as a store of value, because its value remains stable and grows over the years. Of course bitcoin has a lot more advantages than bitcoin when we talk about making transactions, exchanging it and many other but the fact that it's price is so volatile makes it bad for a store of value.
Yeah we use it for the store of value not for the currency that you have to carry at all times. Bitcoin is better in terms of currency because it can be carried everywhere flexibly, but it's about store of value, and saving wealth in gold forever will never make you lose..
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