Gold quickly becoming more scarce. Which will be worth more, Bitcoin or Gold?

[687_2]

Gold selling out, private persons are going to have trouble taking delivery:
https://newsroom.proaurum.de/pro-aurum-schliesst-edelmetall-shop-vom-23-bis-einschliesslich-25-maerz-2020/
 
https://www.handelsblatt.com/finanzen/maerkte/devisen-rohstoffe/edelmetalle-mangelware-gold-nachschub-aus-der-schweiz-geraet-ins-stocken/25672404.html?ticket=ST-511794-2IgeAmgrQz4Q730T9Yxt-ap1

Refineries in Switzerland melt 70% of all gold, all are shut down:
https://www.aargauerzeitung.ch/wirtschaft/schweiz-schmilzt-das-gold-der-welt-die-groessten-raffinerien-sind-hier-129626667

https://goldswitzerland.com/swiss-gold-refiners-cease-production-end-of-paper-market/


Limited supplies and great demand can drive prices very high. Which will be worth more in a year, Bitcoin or Gold?


 

[avikz]

Gold in existence - since ages
Bitcoin in existence - 11 years running

If you still want to compare gold with bitcoin, it's upto you! Gold has been used by the banks worldwide to keep as a cash equivalent for unforeseen times. Bitcoin is not yet adooted by banks for any such reasons.

Looking at the current situation, Gold stays way ahead than bitcoin or any other cryptos to be considered as a safe heaven. Hope you have got your answer.

[mk4]

No one knows, and we can only speculate. What unit of gold are you referring to specifically anyway?

Anyway, one thing's for sure, bitcoin in the short term will definitely be more volatile and gold will probably be a lot better as a sort of "safe haven" than bitcoin, simply due to the fact that bitcoin's market liquidity dwarfs gold's market liquidity.

[Wind_FURY]

Gold in existence - since ages
Bitcoin in existence - 11 years running

If you still want to compare gold with bitcoin, it's upto you! Gold has been used by the banks worldwide to keep as a cash equivalent for unforeseen times. Bitcoin is not yet adooted by banks for any such reasons.

Looking at the current situation, Gold stays way ahead than bitcoin or any other cryptos to be considered as a safe heaven. Hope you have got your answer.

You already posted your own debate against your own statement. Bitcoin is simply young, but it's already a better safe haven than Gold. Self-sovereign, censorship-resistant, portable, borderless.

It will take time for everyone to see it.

[GodRACE]

In 2018 Robert Kiyosaki classified money in 3 parts saying we have Fiat, Digital and God Money.

He categorised Dollars, Yen and the likes which are paper money as Fiat. While he also categorized Cryptocurrency particularly bitcoin as Digital money. He categorised Gold, Diamond, Brass as God's money.

The main thing I learnt from him was what he said about Gold and Bitcoin. He said Gold will be a generational asset and wealth to him and that he has and will never sell it off but will pass it on to this children. He said he had about 3 bitcoin as at then and leaves them as pet in his wallet, saying Bitcoin is the future of money system.

Well which is worth more? I'll say bitcoin because of its usecase. Gold is just a store of value.

[wence1975]

There will be 21 000 000 BTC
On other hand is possible manufacture gold it is just too expensive for now…


https://www.scientificamerican.com/article/fact-or-fiction-lead-can-be-turned-into-gold/

[michellee]

I want to see bitcoin and gold will be worth in the future

So far, gold becomes stable than the other wealth component, and many people choose gold as their investment. But now, they can invest in bitcoin if they want, and they can have a chance to make a big profit if they can invest in both gold and bitcoin.

But we don't know which will be worth in the future.

[pawanjain]

Gold selling out, private persons are going to have trouble taking delivery:
https://newsroom.proaurum.de/pro-aurum-schliesst-edelmetall-shop-vom-23-bis-einschliesslich-25-maerz-2020/
 
https://www.handelsblatt.com/finanzen/maerkte/devisen-rohstoffe/edelmetalle-mangelware-gold-nachschub-aus-der-schweiz-geraet-ins-stocken/25672404.html?ticket=ST-511794-2IgeAmgrQz4Q730T9Yxt-ap1

Refineries in Switzerland melt 70% of all gold, all are shut down:
https://www.aargauerzeitung.ch/wirtschaft/schweiz-schmilzt-das-gold-der-welt-die-groessten-raffinerien-sind-hier-129626667

https://goldswitzerland.com/swiss-gold-refiners-cease-production-end-of-paper-market/


Limited supplies and great demand can drive prices very high. Which will be worth more in a year, Bitcoin or Gold?


 

I believe Gold will never get scarce because there are multiple places from where gold can be mined but bitcoin has only a limited supply.
If you see in the long term bitcoin will be the one which will be more scarce and not Gold. I am definitely not talking about any of them being a safe haven.
But yeah if you talk about calling it scarce then bitcoin will be the one which is gonna be scarce.

Also they say that the world's first trillionaire will be able to invest in Space mining and god knows how much gold will be available in space asteroids.

[target]

There are only 21M BTC, that should be more scares than Gold that there are gold mines everywhere especially in my country where small scale miners are doing in on thier backyard. 

BTC will be fewer knowing Satoshi's coins are just there unused which were over a million. It can be used online which can be sent anywhere unlike Gold, its pretty clear BTC is going to more worth.

[Ucy]

One will likely do better in time of choas and scarcity. In such time, I wouldn’t accept one. I would only accept currency I can do alot of things with.
I believe there are good physical alternatives to gold if it becomes unavailable. I would rather invest alot in "basic assets" that will sustain me & be very valuable in times of crisis, then use alternatives to gold as currencies.
If internet remains the way it is or becomes decentralized, I will use Bitcoin/crypto.

Gold could work fine in cities and town, that is if they(cities & towns) remain safe in time of choas

[jacafbiz]

I don't know why people like to compare the scarcity of Bitcoin with that of Gold. What is happening to Gold now is one of the problem Bitcoin is solving, can you picture what would happen if you want to withdraw your Bitcoin from exchange and exchange start giving excuse

[aysg76]

Yeah, the Gold. It's actually worth anything in the current scenario. I am focusing it more because of corona thing. Let's rethink it in different way. Gold is not much demanding right now because people have to think about their daily life survival in the lockdown situation. Thus, they will have only one option and that is to save whatever they have right now and not to invest in stuff like Gold. This will put down the value of gold a lot and one can easily make investment into it and wait for huge spikes in the next year. So this is like investing in the bearish market and once the demand is spiked wait for bull.

Bitcoin stays the way it is today. I don't see anymore fluctuations in it now a days. It has swiftly corrected itself to a rate which it had last week and thus doesn't show any progress in it.

[Initscri]

Honestly, not going to lie, I'd just buy both.

Both have a form of scarcity. I would leverage Bitcoin for a digital storage method, and then gold for a physical storage method. Those people who buy gold in the form of ETFs where the gold is stored elsewhere make absolutely zero sense to me.

As for which will be higher, it's anyones guess. I can only assume that Bitcoin will most likely gain further due to it's higher volatility and dependence on hype. Doesn't mean it'll stay that way though.

[Tipstar]

We haven't realised that total supply of gold yet. Though gold is mined in finite numbers of mines, new gold mines are found every now and than. And the supply could be much more larger than we might be thinking. While on the other hand, Bitcoin would never reach 21 million in supply.

[HardFacts]

Bitcoin is simply young, but it's already a better safe haven than Gold. Self-sovereign, censorship-resistant, portable, borderless.

WRONG, WRONG, WRONG:   NEVER trust anyone that post outright LIES.

Central Banks are buying as much gold as they can.   Many countries are getting gold back from storage in the UK as fast as they can, more than ever in history.

ZERO central banks and sovereign nations are buying BitCoin.    Bitcoin is NOT a safe haven, it has crashed in response to its first economic crisis.   Only a total FOOL would believe anything that Wind_FURY posts...

Hard Facts

[dothebeats]

This has always been discussed in this forum. Gold will quickly deplete on the earth that we are mining but its value will still be dependent on how would the richest of the rich will see it. Right now, everyone's eyes are focused on derivatives and other new investment fads that were introduced in the market. Gold retained most of its value for over centuries, mainly due to the fact that almost everyone recognizes its intrinsic value. Aside from that, regulations are put into place to ensure that no schemes whatsoever will be used on gold to play with its pricing. On the side of bitcoin, it is poorly regulated, easily swayed by whales if the conditions are right and still is a young asset in the block. Of course, gold will win the safe haven game, but for gains, bitcoin clearly is the winner. In the long run, it would be bitcoin that will be the best performing asset there is, ever, alongside any other cryptocurrencies due to them being young and being susceptible to manipulation and whatnot.

[stomachgrowls]

Directly talking about price potential increase then theres no doubt that bitcoin would really have it but we know that Gold is much more preferred by majority.

People would stick out on traditional investments for sure but we know on what are the advantage in talks of bitcoin investment.

Why would choose among the two if you can have both?

[HardFacts]

Directly talking about price potential increase then theres no doubt that bitcoin would really have it but we know that Gold is much more preferred by majority.

NO YOU DO NOT KNOW that BitCoin will go up,  it could very well go to near zero.

Just a few weeks ago, NO ONE here would have admitted that the price of BitCoin would crash in an economic crisis, you would have all laughed at me, but here we are ..........

Hard Facts

[HardFacts]

regulated, easily swayed by whales if the conditions are right and still is a young asset in the block. Of course, gold will win the safe haven game, but for gains, bitcoin clearly is the winner. In the long run, it would be bitcoin that will be the best performing asset there is, ever, alongside any other cryptocurrencies due to them being young and being susceptible to manipulation and whatnot.

ABSOLUTE GARBAGE...

No one knows if BitCoin will go up, or go down to its intrinsic value of near zero...   If I had told you guys a few weeks ago that the price of BitCoin would CRASH in its first economic crisis, you all would have laughed at me and called me stupid, yet here we are....

Personally I would get the REAL COINS , not BitCoin, because I think the hammer is going to fall on BitCoin again.  ZERO Central Banks, zero countries, and no major investors are buying BitCoin, that should clue you in....   You guys ready for 3,000 dollar BitCoin

Hard Facts

[Coin-Keeper]

I have held BTC since very early on and some Gold.  Where I live people are stocking up on ammunition to barter with if things fall apart.  22 LR are extremely cheap right now but they may easily buy a dozen eggs each if things get down to barter level.  Hope none of us see the day that actually happens.  I will say I pick BTC over Gold because it doesn't have to be hidden and I can take it anywhere by simply having a computer in any country in the world.  Can cross borders, and unlike Gold, traveling (nomad) is a non-issue for crypto.  Its invisible at various borders.  How do you spend a Gold coin when you only need something of moderate value.  With BTC a satoshi or two can suffice.