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Author Topic: BTC and Gold?  (Read 12035 times)
ilovealtcoins
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July 10, 2019, 03:19:57 AM
 #201

Bitcoin and Gold are good value assets.  Bitcoin quantity is limited and has a faster growth rate than Gold.  The state reserves gold to maintain economic stability.  If in the future the state is more interested in using Bitcoin as a monetary reserve, then the value of bitcoin is much higher.
It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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July 30, 2019, 06:27:00 PM
 #202

Interesting article that talks about BTC vs Gold: https://cryptotradernews.com/cryptocurrency/is-bitcoin-the-new-gold/

Thoughts? Gold is tangible and can be used for other things other than storing value... It's also been around for a much longer time...
I think for now Gold remains an investment recommended by many banks in the world because it has a stable value and is legal throughout the world. but if later bitcoin is legal and can be used throughout the world too, it is not impossible that bitcoin will become a favorite investment for all people

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July 30, 2019, 08:39:36 PM
 #203

These two are giants in their respective fields, in cryptocurrency bitcoin is the Gold of all coins in the market and in forex wise Gold is like the bitcoin in that area which makes it the king. These two are of high value and works not always in favour of themselves but bitcoin still have more to offer than Gold because bitcoin is not only a decentralized system but also a coin with major adoption worldwide.

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July 30, 2019, 11:43:37 PM
 #204

It is better not to choose because they are both good assets to invest for long-term. It's just that Gold has been here for a thousand years and we have proved its worth and value over time. Bitcoin has been here for only a decade though we have seen its growth, its price is very volatile that we can lose so much over time.

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July 31, 2019, 01:37:55 AM
 #205

Despite the many differences, gold and Bitcoin are actually becoming more valuable because of the scarcity of the rarity. From time to time, the supply of gold and Bitcoin will equally shrink while demand increases, so the tomorrow's value is higher than the day before. However, it is necessary to understand that such similarities do not necessarily mean they have similar characters.

Bitcoin is created in computer networks and complex software, which although it says it is impossible to hack, but has crucial weaknesses like human creations. Call it a problem of Bitcoin scalability, which is the length of the transaction queue, so the time and cost required for payments using Bitcoin swell. On the other hand, gold is a natural resource to get it quite done by mining, through routine operations that do not suffer much force majeure. So that gold buyers simply come to the seller where the goods are available in constant tempo.
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July 31, 2019, 02:52:49 AM
 #206

Gold is a real object and has a mass, this is the advantage of gold's weakness compared to Bitcoin
Imagine if you were robbed to visit at home, they could steal your gold
For Bitcoin, it's not real, doesn't handle it, but security issues are quite difficult
Even so, I still prefer BTC over gold, because of its value and technology

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July 31, 2019, 03:32:41 AM
 #207

Why do people really waste their time on making unnecessary comparison between Bitcoin and Gold forgetting that these two entities are different in so many ways.  Bitcoin in no way be compared to Gold, they are both unique in they own kinda way...
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July 31, 2019, 04:13:20 AM
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 #208

to save of course gold is better. with price movements that don't move much and are real objects. certainly different from bitcoin. but to invest, of course bitcoin is superior to gold. with very fast price movements, of course you can take advantage of whether it's a long-term or short-term investment.
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August 01, 2019, 10:42:41 PM
 #209

I think both are value-saving assets  Roll Eyes
Difference there that gold is already valued for ages and got more weight where Bitcoin is still inn its early stage. If gold is the front runner here Bitcoin has a long road ahead but a bright one.


Yes both are asset and same expensive value in the market and truly correct both have an differences balue in the market how there price store valie moving uorise gold is basically dpends on the demands ages long term hold every year gold higher their value. Bitcoin is good keep also as long erm invest but harder to predict and have risk keeping it if if they have not time to manitor their price.
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August 01, 2019, 11:10:00 PM
 #210

One good thing about Gold is it can easily be liquidated in time when you need money whenever and wherever you are. Simple as gold ring, gold necklace or earrings can be turned to money just by walking in to pawnshops and you walk out with money on your hands. Bitcoin is starting to be a good asset nowadays because its continues to increase however, if you are in a place where electricity and internet is absent, its going to be hard for you to liquidate your Crypto assets.
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August 03, 2019, 02:52:16 AM
 #211

One good thing about Gold is it can easily be liquidated in time when you need money whenever and wherever you are. Simple as gold ring, gold necklace or earrings can be turned to money just by walking in to pawnshops and you walk out with money on your hands. Bitcoin is starting to be a good asset nowadays because its continues to increase however, if you are in a place where electricity and internet is absent, its going to be hard for you to liquidate your Crypto assets.

That's certainly true, mate. Even so, both Gold and Bitcoin seem to be ideal tools for living a worry-free financial life if used right. In times where Gold cannot be transported safely across countries (due to lack of portability), or simply divided into small fractions, Bitcoin is the true winner. However, there will be times where Internet access will not be available, leading us to use other means like Gold or physical cash. In here, Gold would be the winner since it has retained its value for a long time. Unlike cash, Gold is scarce in the same way as Bitcoin. You can use Gold for emergency situations, while Bitcoin can be used as for making worldwide payments in a safe and secure manner.

Still though, Gold has greater liquidity and a higher market cap than Bitcoin itself. This is probably because Gold has been around for a few years while Bitcoin is relatively new to the world. Despite this, Bitcoin's quick rise within just a few years of inception shows us that it has the potential of becoming closer to Gold within the not-so-distant future.

Nonetheless, it's believed that Gold will be digitized or tokenized within existing Blockchain systems. It's already happening now where Gold is issued digitally by some custodians (like Digix and Vaultoro). In the end, both assets (Gold and BTC) will head their separate ways for the foreseeable future. But one thing for sure, is that Bitcoin's scarcity makes it look a lot more like Gold than anything else. Just my thoughts Grin

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August 08, 2019, 03:02:14 AM
 #212

Why do people really waste their time on making unnecessary comparison between Bitcoin and Gold forgetting that these two entities are different in so many ways.  Bitcoin in no way be compared to Gold, they are both unique in they own kinda way...

Both Bitcoin and Gold may be unique in some ways, but they're similar in the sense that they're extremely rare and limited in supply. In crypto land, Bitcoin is considered as "Gold" simply because it's the most secure Blockchain available today with a finite supply unlike no other. As for real Gold, it's a precious metal that's very rare compared to Silver and even Copper. Not to mention, it's trusted by many people worldwide as a safe hedge against traditional Fiat currencies like the USD and EUR.

It all comes down to preferences, whenever people choose Bitcoin, Gold, or Fiat for their mainstream transactions. Preferably, it's best to combine Bitcoin and Gold in order to maintain a steady financial life for the long term. Gold can be used for emergency situations when there's no Internet, giving us a stable and valuable payment method to transact with other people worldwide. On the other hand, Bitcoin can be used as an investment tool and a payment system to send money worldwide in the safest and cheapest way possible (compared against traditional fiat currency).

Nonetheless, I believe that both assets (Bitcoin and Gold) will grow close to each other for the foreseeable future. They have many similarities among them, despite existing in two completely different worlds (physical vs virtual). Time will tell us whenever intangible assets (like Bitcoin) or tangible ones (like Gold) will be the way of our economy within the mainstream world in the future. Just my opinion Smiley

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August 08, 2019, 03:16:25 AM
 #213

Of course, the BTC is best but for the future. Presently, gold is best as the store value. To secure the future, we can start investing in crypto today.

Gold has been the most preferred store of value for thousands of years. And that was one of the reasons why the fiat currencies used to be backed up with gold earlier (until the mid 20th century, if I am not wrong). The advantage with gold is that it is one of the few assets, whose supply is limited enough to qualify for the definition of a "precious metal". You can't use metals such as copper or silver for this purpose, since their supply is not that limited (although in some cases they are used as bullion).

Another advantage with gold is that the easily extractable deposits of gold are exhausted. What is remaining of the gold deposits in the surface of the earth are mostly located in the remote regions of the world, such as the Amazonian rainforests of Brazil and Peru, and Siberian wastelands. Even these deposits are rapidly getting exhausted. The cost of extraction of gold is close to the market price of gold and therefore there is a very low chance of the yellow metal declining in value.
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August 08, 2019, 03:51:52 AM
 #214

Interesting article that talks about BTC vs Gold: https://cryptotradernews.com/cryptocurrency/is-bitcoin-the-new-gold/

Thoughts? Gold is tangible and can be used for other things other than storing value... It's also been around for a much longer time...

Bitcoin may not be tangible but it could also be used in some other things aside from just a storage of value. It is primarily a currency, after all. The good thing about Bitcoin is that its value is appreciating faster than gold and other assets. The argument against it however is that Bitcoin is much unlike gold in that it does not have any tangible object which represents it. As other analysts would have it, Bitcoin does not have any intrinsic value. It does not represent anything in the physical world. But who cares about the physical object? The gold that we are also buying and selling right now are but nothing but numbers also, unless one is actually buying golden jewelries and gold bars. 

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August 08, 2019, 02:27:28 PM
 #215

When it is compared, gold actually seems to be better as a store of value but only for now. I think in the upcoming future BTC will be a better option as a store of value. For instance thinking about halving system of BTC is a big advantage because it makes retain its value and enables to protect itself against the inflation risk. Also about the future projects are a strong indication about BTC future.
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August 08, 2019, 03:39:50 PM
 #216

I quite agree with the fact that gold is for long term and for savings but bitcoin is also for all these and even more. Bitcoin gives you the avenue to save for both long and short term and also for presevation and also for profit making. from estimate. the percentage of pprofit made from bitcoin has covered that of gold for over a decade
Personally, I find it easier to use bitcoin than I use gold. Well, gold is a very definite asset, it's just that most of the gold is only retained, and used as a long-term asset. therefore, bitcoin is a pretty good choice for now. because I feel that using bitcoin might be easier now. Well, I think many agree with me.
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August 09, 2019, 09:31:50 AM
 #217

3 Reasons Bitcoin Is Turning Into A Global Safe-Haven For Investors

1) Every fiat currency is devaluing itself on purpose

2) Bitcoin increasingly non-correlated with traditional markets

3) Bitcoin can provide asymmetric returns

https://www.zerohedge.com/news/2019-08-08/3-reasons-bitcoin-turning-global-safe-haven-investors

... actually these reasons are valid for gold too.
That shows the similarity between gold and Btc as safe heaven investment

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August 09, 2019, 10:10:53 AM
 #218

Personally, I find it easier to use bitcoin than I use gold. Well, gold is a very definite asset, it's just that most of the gold is only retained, and used as a long-term asset. therefore, bitcoin is a pretty good choice for now. because I feel that using bitcoin might be easier now. Well, I think many agree with me.
I'd like to use bitcoin more as a store of value rather than gold. Here in our place if people know that you have been accumulating gold as a store of value, their eyes will turn to you and you can be as their hot target. I'm avoiding the worst scenario so for me, my choice as store of value will go to bitcoin.

But I'm not closing my door for gold, if we'll leave our place in the future I'll start buying gold.



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August 09, 2019, 10:12:41 AM
 #219

Gold and bitcoin are entirely different from one another despite the two having some similar things in common. they both serve as a means to earn good income, however, one is better. Gold is a natural resources while bitcoin is a digital currency. regarding stress challenges and convienience, i will go for bitcoin, it doesnn't require too much of physical energy and stress, this will make it what i prefer over gold.
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August 09, 2019, 05:51:15 PM
 #220

Each of us understands that investing in Bitcoin can carry certain risks, especially if we do not have enough patience to leave our investments for a long time.  Throughout its existence, Bitcoin has been changing in price quite actively and those users who handled Bitcoin ineptly lost not only their profits, but also other savings.  Such situations cannot happen with gold, but thanks to gold, an investor will not be able to get as much profit as with Bitcoin, because gold does not have such volatility.
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