GOLD and BITCOIN: What is their similarities?

[FlightyPouch]

Bitcoin is a good store of value particularly if you invest it in a long term wherein its price keeps on rising every year.

That is true. We should not believe on those person saying that bitcoin is not a safe haven investment since it is. If you keep on holding your crypto currency from 2013 until now, that is a huge huge profit. Another similarity is that it is being supported by a lot of investors, with the profit it has given to them.

[imstillthebest]

Bitcoin is a good store of value particularly if you invest it in a long term wherein its price keeps on rising every year.

That is true. We should not believe on those person saying that bitcoin is not a safe haven investment since it is. If you keep on holding your crypto currency from 2013 until now, that is a huge huge profit. Another similarity is that it is being supported by a lot of investors, with the profit it has given to them.

they can say that because they  experience to loose  . they loose because they enter on wrong time and exit on wrong time but for some liike you that done it right , you dont have complaints yet  .  i am not an investor but calling it as a safe haven isnt really appropriate in my opinion due to its high risk  . safe means stable like banks for example if you just want to sit you money on there  . there are many similiarities that i can think of right now but im afraid to post it because most of them are already given  .

[dnprock]

The main advantages that BTC has over gold is publicly known total supply, followed by a pre-set mining procedure which include halvings/block rewards. There is also an ease of transfer when it comes to BTC, whether it be payment transactions or transferring value. Take 1 kg of gold and try to move it through customs, and take 100 BTC in hardware wallet or as a seed on a piece of paper or in your head (it is not hard to memorize 12 words).

I actually think having a fixed known supply is a disadvantage of BTC. Gold inflates at 1.5% per year. This low inflation allows gold to satisfy new demand, slowly. BTC's eventual zero supply will make BTC always volatile. There would be no BTC rush to find a new supply. While this could be good for your Store of Value, it creates volatility. Volatility will prevent BTC from being useful for transactions. It will remain a Store of Value and a very volatile speculative asset.

[Lucius]

I actually think having a fixed known supply is a disadvantage of BTC.

I can see in which direction you are aiming, and I cannot say that I do not understand your concern, but what if BTC had no limited supply? It is very likely that this would primarily affect its price, and would be subject to greater manipulation than it is today. However, it will take more than 100 years to mine all BTC, although in a little over 10 years this percentage will reach 99%.

For me BTC is store of value, but also a currency which I use regularly. That is not going to change no matter of the price, and I believe that some people think the same. Volatility is problem, but I think it will decrease in the future.

Gold has a long history, has proven to be a store of value, has an application in industry, and has a status symbol in some cultures. No one can dispute that, and I think it's in some ways wrong to compare gold and BTC, but I understand the human obsession with such things.

[boyptc]

I actually think having a fixed known supply is a disadvantage of BTC. Gold inflates at 1.5% per year. This low inflation allows gold to satisfy new demand, slowly. BTC's eventual zero supply will make BTC always volatile. There would be no BTC rush to find a new supply. While this could be good for your Store of Value, it creates volatility. Volatility will prevent BTC from being useful for transactions. It will remain a Store of Value and a very volatile speculative asset.

BTC having a limited supply makes it even worthier than any other assets except gold. Just think of it what if bitcoin does have an infinite supply.

It will be same as those altcoins that has billions of supply and keeps on printing their new coins. Being scarce made it's value higher, I understand the point of using it with transactions and despite of being volatile, it didn't became an obstacle for everyone to use it the way it's designed.

[tvplus006]

...Both are a store of Value
The value Varies over time...

We already know how much the price of gold has changed over the past world history, and we can assume that the price will not differ much from today. Regarding the cost of bitcoin, there are different theories that its price can reach up to 1 million dollars. And we can witness how correct such statements were.

[Shiversnow]

I actually think having a fixed known supply is a disadvantage of BTC. Gold inflates at 1.5% per year. This low inflation allows gold to satisfy new demand, slowly. BTC's eventual zero supply will make BTC always volatile. There would be no BTC rush to find a new supply. While this could be good for your Store of Value, it creates volatility. Volatility will prevent BTC from being useful for transactions. It will remain a Store of Value and a very volatile speculative asset.

I think you don't understood BTC that much, if you think about it BTC is also affected by the law of supply and demand it really matters that we as investors or holders know that there is a fixed supply because it helps us when to buy or sell our current BTC holdings, if you read the article link by thenewanon135246, it helps you in understanding.
Here is the link

https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25

[Krillin61]

Lmao, asking something without manner...

Sorry about sounding rude but I want you to know that I am a very straightforward person so I don't really want any unnecessary chit-chat and also thank you so much to all of you guys answering my question. I hope I didn't offend you.

Never thought this topic would gather legends and heros of this forum.

[FlightyPouch]

Bitcoin is a good store of value particularly if you invest it in a long term wherein its price keeps on rising every year.

That is true. We should not believe on those person saying that bitcoin is not a safe haven investment since it is. If you keep on holding your crypto currency from 2013 until now, that is a huge huge profit. Another similarity is that it is being supported by a lot of investors, with the profit it has given to them.

they can say that because they  experience to loose  . they loose because they enter on wrong time and exit on wrong time but for some liike you that done it right , you dont have complaints yet

It is not that I've done most of my investments right since there are a lot of movements I missed. Despite those misses, I still earned a good amount of profit since I kept on holding it and I am patient. I don't have other investments other than some of my bitcoins and some altcoins that I am waiting to grow.

[hahay]

The equation of the two is rare and becomes something that is more desirable to be invested, because with its scarcity will certainly push for higher prices. Maybe that is the reason for the simple similitude that comes across and I think there are still a number of other factors as well, but basically both of them are an investment asset that is in demand even though they have prices that differ greatly.

[justdimin]

Probably those are the only things there is, however one is more technological and people may not see it that valuable as gold since it is technological. We all say that blockchain and bitcoin is decentralized and uncorruptable but at the same time we are not entirely sure if a government with 100 billion dollars in bank could just wage a war against bitcoin and destroy it or not, we have no idea if that is possible or not. We all KNOW gold can't be replicated and gold is gold, but maybe one day bitcoins max amount will be 22 million instead of 21?

We don't know what the technological advancements and research will result with. I still think that we can trust bitcoin right now, but in 50 years who knows what could potentially happen, most of us are under 50, that means we are talking about longer period than you have been alive.

[Tasrifhossain]

In my opinion, the thing that most resembles Gold and Bitcoin is that in the context of the present time, the demand for these two things is almost equal, but in this case the amount of Bitcoin and the amount of goldWhether two things are ever-limited in this whole world and it is diminishing day by day, and I think the biggest similarity is that with Bitcoin heyday with gold, the demand and price of two things are very high and it is understood that in all these aspects. ThisFrom the point of view, it is understood that these things are similar between the two

[AniviaBtc]

These two generated a huge amount of profits for investors and it keeps on increasing. As Gold is said to be one of the best investments, bitcoin is also a good investment but with higher risk, since we all know how volatile bitcoin and other crypto currencies are. As gold is a natural one, bitcoin is something we mined from the internet using these miners or ASICs.

The most common thing between them is that they are both good store of value. Gold can be appraised in a higher amount just when the value of gold per gram increased and this happens every year that comes. Bitcoin is a good store of value particularly if you invest it in a long term wherein its price keeps on rising every year. Both are mined but bitcoin has a fixed amount of supply while gold has no fixed supply amount.

Bitcoin is more complex although they both good store of value. Bitcoin can really increase its price without limitation if possible. The only thing that hinder that is that its price is really volatile and the demand is not that consistent so that its value in the market is also not stable. Although both are mined and limited, bitcoin is much easier to mine and less hassle, while the gold is very risky that it can also result to a tragedy. They are both a good investment and it is very effective if you really work hard monitoring your invest with both bitcoin and gold. But probably, if they are both comes to the point that the supply is limited, probably there's a pump in the price.

[Barbut]

More gold or more Bitcoin makes you richer! One is a precious metal other is a digital asset. People are comparing Bitcoin and gold for years, but what we have from that? They are different, different production, supply, transactions. What you can do with Bitcoin you can't do with gold and vice versa, you can't do with Bitcoin what you can do with gold. I mean that's obvious, why we still talk about this?

[dnprock]

I can see in which direction you are aiming, and I cannot say that I do not understand your concern, but what if BTC had no limited supply? It is very likely that this would primarily affect its price, and would be subject to greater manipulation than it is today. However, it will take more than 100 years to mine all BTC, although in a little over 10 years this percentage will reach 99%.

For me BTC is store of value, but also a currency which I use regularly. That is not going to change no matter of the price, and I believe that some people think the same. Volatility is problem, but I think it will decrease in the future.

Gold has a long history, has proven to be a store of value, has an application in industry, and has a status symbol in some cultures. No one can dispute that, and I think it's in some ways wrong to compare gold and BTC, but I understand the human obsession with such things.

Bitcoin is a good long-term Store of Value. But it doesn't have the balance to make good money (Store of Value and transactions). Deflationary money creates parasitic/rent-seeking behaviors. People in feudal societies have to migrate to find new lands. Feudal lords, knights, and kings always end up controlling real estates. They were rent-seeking on people's labor. Gold rushes were brutal. But they offered people an escape from the tyrants.

When hyperbitcoinization happens, bitcoiners will become the new kings and lords whether they want it or not. They're certainly free and have servants until another ambitious tyrant decides to seize their bitcoins by violence.

I think Bitcoin would make a better form of long-term money if it has small inflation, like 1%. It'll truly compete with gold. But the ship has sailed. We cannot change. Gold can make a comeback. It always did.

[bitbunnny]

More gold or more Bitcoin makes you richer! One is a precious metal other is a digital asset. People are comparing Bitcoin and gold for years, but what we have from that? They are different, different production, supply, transactions. What you can do with Bitcoin you can't do with gold and vice versa, you can't do with Bitcoin what you can do with gold. I mean that's obvious, why we still talk about this?

If you ask me Bitcoin and gold have no similarities. Yes, they are bith valuable and yes, they can.improve your financies.
But they are essentialy different, Bitcoin is digital currency and gold is precious metal. They are functioning different in the market, their value is defined different and they have totaly different position in formal financial and economy system. So, what is the point in comparing them, that will lead you nowhere.

[ArIMy11]

I always see what is the difference but I want to know what is their similarities. Show me what you know.

People do crave to have both of these things. High demand but is less supply .
Because it is valueable/ because of its value. Although we all know that crypto price is not always high and gold price is alway high but still we can both earn big in both of it. Another, for me it is both difficult to earn. Bitcoin : we must first learn. What is crypto? How does it work? Which way of earning will you prefer to earn?
Gold : where can you find true gold ? There are so many people out there who makes and sell fake golds. Will you mine some ? Will you buy some ?

[dioanna]

I always see what is the difference but I want to know what is their similarities. Show me what you know.

I guess investors see Gold and Bitcoin as a safe haven investment
Although Bitcoin has just begun compare to Gold that has been proven as a perfect choice to invest in
bitcoins popularity to investors has established in a just a limited span of time.

[awik p]

I always see what is the difference but I want to know what is their similarities. Show me what you know.

I guess investors see Gold and Bitcoin as a safe haven investment
Although Bitcoin has just begun compare to Gold that has been proven as a perfect choice to invest in
bitcoins popularity to investors has established in a just a limited span of time.

both do have an upward trend, gold is undoubtedly a long-term investment, while bitcoin also has great potential for the long term, because given the lack of bitcoin users, we can imagine if all countries have regulated it, of course we will find great development, so I think both have the same potential with different levels of risk

[micallco]

I think that the most important similarity between bitcoin and gold is that they are not so dependent on a particular state unlike some currency. This is good at the moment, because it so happened that the elites control citizens, and gold and bitcoin give more freedom to ordinary people.