Gold exist 1000+ years. while bitcoins exist 10 years.

[cutesgirl]

Gold will still exist more thousands years for sure or the life span of the gold is very long than the bitcoin and that's the fact the bitcoin is not forever or only maybe more decades still before the bitcoin gone in the crypto world but the good with that before the bitcoin gone in our world they have people who change already their lives or they become millionaire or having a lot of money.

It always comes down with the demand. The life of Bitcoin or even in general whether a product, person or a government, lies in belief, trust. As long as Bitcoin can keep up with the needs of the intended people then it would continue to foster and serve its purpose.

For it to happen, maybe we should stop treating Bitcoin as an investment alone but rather live up with its purpose i.e. spending it like what we do with the fiat. In that way, we are integrating it with our daily lives and evolve as a vital instrument in commerce.

Bitcoin is digital currency and gold only investment assets have higher value but look the same price although have pass one or two years, bitcoin become digital currency for payment transaction if adopt by some companies. Bitcoin not be payment currency because many people use bitcoin only for investment assets with save their money with gold and waiting for selling gold after raise to higher price.

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[bohr]

This is the mistake that is being made by so many people around here. Earlier I had seen a thread, where the OP was claiming that gold has been overtaken by Bitcoin. The justification given by him was laughable. He was claiming that 1 Bitcoin is now worth more than 1 ounce of gold and this shows that now Bitcoin is now more valuable than gold.

And how can we make comparison like that? 1 oz of gold is not equal to one Bitcoin. Both are entirely different units. For making comparison, you can't use two different units for two different assets. If you really want to compare gold with Bitcoin, then you should compare the market capitalization. That is the only unit which can be used for both assets. And as of now, this is how the comparison stands:

Gold: market capitalization of $8 trillion
Bitcoin: market capitalization of $173 billion

If we use those numbers it means that bitcoin has 2% of the market cap of gold, and while this may seem to be low and some may be disappointed by it, this should also give to us huge hopes for the future, even if bitcoin were to just get 20% of the market capitalization of gold during the next 10 years that is still a market cap of 1.6 trillion dollars which is about 10 times the current price and a price close to 90,000 dollars which is not bad at all if you ask me.

[iv4n]

Gold: market capitalization of $8 trillion
Bitcoin: market capitalization of $173 billion

If we use those numbers it means that bitcoin has 2% of the market cap of gold, and while this may seem to be low and some may be disappointed by it, this should also give to us huge hopes for the future, even if bitcoin were to just get 20% of the market capitalization of gold during the next 10 years that is still a market cap of 1.6 trillion dollars which is about 10 times the current price and a price close to 90,000 dollars which is not bad at all if you ask me.

I agree with you, this calculations should give us huge hopes for the future, it shows how much crypto can grow. We are still small part of the world economy, but we are growing fast. Just few years ago situation was different, and if anyone take a look on charts from 2010 until now can see this rise in numbers. From almost nothing to the point where we are now!
Its question of time when we will see bitcoin market cap at 1 trillion. In 2017 as I remember we were somewhere around 800 billions, in next bull run after next halving we will see bitcoin market cap crossing that magical 1 trillion market cap, and after that everything will be possible!

[Vispilio]

Gold has been a long standing store of value mainly because of traditional reasons, which can possibly change depending on political climates.

It could be diamonds, silver, crude oil, bullets or even sea shells; the current use cases of Gold are not particularly strategic to guarantee universal acceptance...

On the other hand BTC and some other crypto currencies provide a number of peerless use cases, such as the sovereign transfer of wealth between individuals without intervention by any 3rd party; thus the longevity of Bitcoin even as "digital gold" doesn't need to be less likely than that of the physical commodity.

[tambok]

Gold will still exist more thousands years for sure or the life span of the gold is very long than the bitcoin and that's the fact the bitcoin is not forever or only maybe more decades still before the bitcoin gone in the crypto world but the good with that before the bitcoin gone in our world they have people who change already their lives or they become millionaire or having a lot of money.

It always comes down with the demand. The life of Bitcoin or even in general whether a product, person or a government, lies in belief, trust. As long as Bitcoin can keep up with the needs of the intended people then it would continue to foster and serve its purpose.

For it to happen, maybe we should stop treating Bitcoin as an investment alone but rather live up with its purpose i.e. spending it like what we do with the fiat. In that way, we are integrating it with our daily lives and evolve as a vital instrument in commerce.

Bitcoin is digital currency and gold only investment assets have higher value but look the same price although have pass one or two years, bitcoin become digital currency for payment transaction if adopt by some companies. Bitcoin not be payment currency because many people use bitcoin only for investment assets with save their money with gold and waiting for selling gold after raise to higher price.

Bitcoin is also known as the digital gold and it is far better than the physical one. The holders of bitcoin enjoy features like anonymity, security, high profits in no time, freedom of control. I don't think gold can do all this. No doubt that most of the rather all investors are investing in bitcoin for the sake of profits. Bitcoin can make them rich beyond anyone’s imagination. It is best to be considered an investment at present than currency.

Yes, gold can't do that , when it comes to usage, Bitcoin really has the advantage and widely use in the world as it creates a currency change system in the whole world, while gold is just like a form of investment there is no real use, just an investment that you can buy and sell but you cannot purchase any kinds of goods and services thru it.

[doomistake]

It always comes down with the demand. The life of Bitcoin or even in general whether a product, person or a government, lies in belief, trust. As long as Bitcoin can keep up with the needs of the intended people then it would continue to foster and serve its purpose.

For it to happen, maybe we should stop treating Bitcoin as an investment alone but rather live up with its purpose i.e. spending it like what we do with the fiat. In that way, we are integrating it with our daily lives and evolve as a vital instrument in commerce.

You were saying that if the demand on bitcoin get high, it will prolong its life? is that what you were trying to say, if that is your opinion, I'm afraid I have to disagree with that, correct me instead if that is not your point.

We only have 21,000,000 bitcoin that will circulates in the market, and we already mined 85% of it, with that being said, we only have limited amount of bitcoins, even the demands of it get insanely high in the next following year and so on, we will meet the time where bitcoin have to say goodbye to use, that is the sad reality about it, we could not replenish it like natural treasures with the use of science.

[Landak]

Based on my opinion.
Bitcoin without the internet, there will be no value. born because of technology.
Gold, even without the internet, the value will still be there.
It would be very difficult to compare bitcoin with gold. although bitcoin has a higher value than gold, I am very sure that 8 out of 10 people who are told to choose investments will definitely prefer gold, because gold is recognized worldwide than bitcoin.
gold is more stable and the risk is low.
people who want to get money quickly, will definitely choose bitcoin but it is too risky and can at any time lose its value (everything can happen).

[Faxmate]

Gold will still exist more thousands years for sure or the life span of the gold is very long than the bitcoin and that's the fact the bitcoin is not forever or only maybe more decades still before the bitcoin gone in the crypto world but the good with that before the bitcoin gone in our world they have people who change already their lives or they become millionaire or having a lot of money.

As far as the life span of bitcoin is concerned, it would stay longer than gold because of its usage. Gold was in the beginning was used as means of payments but now is juts limited to ornaments. In short its usage has decreased and people do not buy it commonly as an investment whereas bitcoin is high in demand and people are even using it in daily life for clearing dues. Bitcoin will stay always.

[7788bitcoin]

Gold will still exist more thousands years for sure or the life span of the gold is very long than the bitcoin and that's the fact the bitcoin is not forever or only maybe more decades still before the bitcoin gone in the crypto world but the good with that before the bitcoin gone in our world they have people who change already their lives or they become millionaire or having a lot of money.

I am not sure why people are comparing bitcoin and gold but it is good to see your perception of bitcoin as you think it will not last for a long period of time and may i know the reason for you to think like that. Do you really think that people are investing in bitcoin and it is a huge market right now with all the investors thinking that it will die off in a short period of time. Bitcoin is not a quick rich scheme and this is the market to last for a long period of time and people trust the decentralized currency and so is the reason people trust bitcoin.

[hulla]

Gold will still exist more thousands years for sure or the life span of the gold is very long than the bitcoin and that's the fact the bitcoin is not forever or only maybe more decades still before the bitcoin gone in the crypto world but the good with that before the bitcoin gone in our world they have people who change already their lives or they become millionaire or having a lot of money.

I am not sure why people are comparing bitcoin and gold but it is good to see your perception of bitcoin as you think it will not last for a long period of time and may i know the reason for you to think like that. Do you really think that people are investing in bitcoin and it is a huge market right now with all the investors thinking that it will die off in a short period of time. Bitcoin is not a quick rich scheme and this is the market to last for a long period of time and people trust the decentralized currency and so is the reason people trust bitcoin.

I think people compare bitcoin and gold because they have both make a good mark in peoples life and they are both store of value. With that been said, a lot of people in the crypto sphere join crypto in other to have their own portion of cake while they lack the main knowledge about which is what  i think happened with the above user.

[Pearls Before Swine]

Bitcoin is also known as the digital gold and it is far better than the physical one.

I don't know about that.  Can't make a cute necklace for my girlfriend out of bitcoin.

Gold has been on the rise lately, tho.  Silver too and I'm not sure what the reason is for that.  Usually when metals start to rise, the economy is not doing so hot but I don't see that happening worldwide.  In a couple of countries it's really bad (Venezuela, Argentina, Zimbabwe) but I have a feeling that we're in for some dire economic change.  Anyone else get that sense?

It might be a decent time to buy some metals, as the prices haven't gotten too outrageous yet and they may not.  I may have to buy some of my favorite pre 1964 U.S. quarters and some silver eagles.

[Wintersoldier]

Gold will still exist more thousands years for sure or the life span of the gold is very long than the bitcoin and that's the fact the bitcoin is not forever or only maybe more decades still before the bitcoin gone in the crypto world but the good with that before the bitcoin gone in our world they have people who change already their lives or they become millionaire or having a lot of money.

As far as the life span of bitcoin is concerned, it would stay longer than gold because of its usage. Gold was in the beginning was used as means of payments but now is juts limited to ornaments. In short its usage has decreased and people do not buy it commonly as an investment whereas bitcoin is high in demand and people are even using it in daily life for clearing dues. Bitcoin will stay always.

Or in short, it is in a matter of demand that will determine the existence of an entity such as bitcoin, gold, and fiats. But for me, Gold hasn't lose their reputation as it is not limited to ornaments. There still huge number of people who buys gold and keep its value to their vaults. While talking about the existence of both bitcoin and gold, for me, gold will stay much longer as no one will ever destroy a single piece of it and in comparison to crypto, if its technology will be compromised so bad, then its the end. Though I still believe to the power of cryptocurrency in terms of security.

[poldanmig]

Based on my opinion.
Bitcoin without the internet, there will be no value. born because of technology.
Gold, even without the internet, the value will still be there.
It would be very difficult to compare bitcoin with gold. although bitcoin has a higher value than gold, I am very sure that 8 out of 10 people who are told to choose investments will definitely prefer gold, because gold is recognized worldwide than bitcoin.
gold is more stable and the risk is low.
people who want to get money quickly, will definitely choose bitcoin but it is too risky and can at any time lose its value (everything can happen).

Both have different characteristics. and to be compared very clearly people will choose gold. Even history proves before the existence of gold paper money is a medium of exchange used first. the journey of gold and trust is huge now. many people who have proven this gold chart tend to go up every period. But gold is actually not an investment. because its value will follow inflation and the solution to maintain wealth is with gold

[Landak]

But gold is actually not an investment.

gold is a physical investment.

because its value will follow inflation

which inflation? all the value of gold is the same throughout the world, if a country is experiencing inflation. the value of gold will remain unchanged, only the value of money in the country will change, not gold.

and the solution to maintain wealth is with gold

Agree with this. because the value will not affect any conditions. so your wealth will not be lost or significantly reduced.

[logicgate]

Gold will still exist more thousands years for sure or the life span of the gold is very long than the bitcoin and that's the fact the bitcoin is not forever or only maybe more decades still before the bitcoin gone in the crypto world but the good with that before the bitcoin gone in our world they have people who change already their lives or they become millionaire or having a lot of money.

It always comes down with the demand. The life of Bitcoin or even in general whether a product, person or a government, lies in belief, trust. As long as Bitcoin can keep up with the needs of the intended people then it would continue to foster and serve its purpose.

For it to happen, maybe we should stop treating Bitcoin as an investment alone but rather live up with its purpose i.e. spending it like what we do with the fiat. In that way, we are integrating it with our daily lives and evolve as a vital instrument in commerce.

Bitcoin is digital currency and gold only investment assets have higher value but look the same price although have pass one or two years, bitcoin become digital currency for payment transaction if adopt by some companies. Bitcoin not be payment currency because many people use bitcoin only for investment assets with save their money with gold and waiting for selling gold after raise to higher price.

Bitcoin is also known as the digital gold and it is far better than the physical one. The holders of bitcoin enjoy features like anonymity, security, high profits in no time, freedom of control. I don't think gold can do all this. No doubt that most of the rather all investors are investing in bitcoin for the sake of profits. Bitcoin can make them rich beyond anyone’s imagination. It is best to be considered an investment at present than currency.

  Bitcoin has dual nature i.e. it could be used both as currency when you have to clear your dues or purchase something provided the sellers are dealing bitcoin and also as an investment if you want to increase your savings many folds in short time span. As compared to investment plans of banks, bitcoin does not put you under contract rather you have complete freedom of cashing out bitcoin anytime.

[bohr]

I don't know about that.  Can't make a cute necklace for my girlfriend out of bitcoin.

Gold has been on the rise lately, tho.  Silver too and I'm not sure what the reason is for that.  Usually when metals start to rise, the economy is not doing so hot but I don't see that happening worldwide.  In a couple of countries it's really bad (Venezuela, Argentina, Zimbabwe) but I have a feeling that we're in for some dire economic change.  Anyone else get that sense?

It might be a decent time to buy some metals, as the prices haven't gotten too outrageous yet and they may not.  I may have to buy some of my favorite pre 1964 U.S. quarters and some silver eagles.

It has been more than 10 years since the last economic crisis affected the world that tells me we are getting closer to another one especially since the issues that caused the previous crisis were never resolved and most countries are in an even worse shape than back then, what we do not know is what it will take to ignite it, maybe it will be the Brexit or the trade war between the US and China or maybe the price of gold skyrocketing, in any case I see the next crisis being many times more profound than the one we suffered more than one decade ago.

[Triffin]

I don't know about that.  Can't make a cute necklace for my girlfriend out of bitcoin.

Gold has been on the rise lately, tho.  Silver too and I'm not sure what the reason is for that.  Usually when metals start to rise, the economy is not doing so hot but I don't see that happening worldwide.  In a couple of countries it's really bad (Venezuela, Argentina, Zimbabwe) but I have a feeling that we're in for some dire economic change.  Anyone else get that sense?

It might be a decent time to buy some metals, as the prices haven't gotten too outrageous yet and they may not.  I may have to buy some of my favorite pre 1964 U.S. quarters and some silver eagles.

It has been more than 10 years since the last economic crisis affected the world that tells me we are getting closer to another one especially since the issues that caused the previous crisis were never resolved and most countries are in an even worse shape than back then, what we do not know is what it will take to ignite it, maybe it will be the Brexit or the trade war between the US and China or maybe the price of gold skyrocketing, in any case I see the next crisis being many times more profound than the one we suffered more than one decade ago.

The economic crisis may not be avoided totally but it could be minimized with the help of crypto currencies. If you have digital assets or bitcoin particularly, you would be able to make enormous money since the surge in conventional markets will ultimately affect the prices of bitcoin making it to skyrocket hard. If majority starts using crypto currencies, we would be able to cope with crisis to much extent.

[Vishnu.Reang]

We need to stop this obsession with gold. IMO, gold and cryptocurrency are entirely different assets. Gold is not a threat or a competitor for Bitcoin (and vice-versa). I would go one step further and say that even fiat currency is not a competitor of Bitcoin. Since Bitcoin is being used as an investment asset, the real competitors are other assets such as real estate, equities.etc.

[Kevondo]

We need to stop this obsession with gold. IMO, gold and cryptocurrency are entirely different assets. Gold is not a threat or a competitor for Bitcoin (and vice-versa). I would go one step further and say that even fiat currency is not a competitor of Bitcoin. Since Bitcoin is being used as an investment asset, the real competitors are other assets such as real estate, equities.etc.

Literally, gold is good but it is not like there is no other good things. Gold is serving its own purpose. It is a jewelry Honestly, what else can we do with it. It is no more a medium of exchange, not an investment either. Bitcoin and altcoins are investments at present, helping thousands of people around the world. They are also being used as medium of exchange at some places.

[logicgate]

We need to stop this obsession with gold. IMO, gold and cryptocurrency are entirely different assets. Gold is not a threat or a competitor for Bitcoin (and vice-versa). I would go one step further and say that even fiat currency is not a competitor of Bitcoin. Since Bitcoin is being used as an investment asset, the real competitors are other assets such as real estate, equities.etc.

  Thank god! There are people who understand that this comparison of blockchain technology coin with gold is absurd. These two types of assets have nothing in common and they could never be on same ground for comparison. If you are using bitcoin as investment asset, then go for the markets that are providing same opportunities and if you are using it as fiat, then it is sensible to compare it with fiat.