Can Bitcoin be considered the “gold” of crypto investment?

[hulla]

Bitcoin was already the gold of crypto investment and all others investment right from the time it was created which is the reason why the government sees it as a threat but the covid 19 situation shows it to the world that Bitcoin was indeed the perfect alternative we need and this is what the US SEC Chairman (Jay Clayton) understood about Bitcoin when he said "What we are seeing is that our current payment mechanisms, domestically and internationally, have inefficiencies, those inefficiencies are the things that are driving the rise of Bitcoin".

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[kryptqnick]

Hi, crypto fans

Just a little over a week ago, Stanley Druckenmiller, an American billionaire, spoke on CNBC about his views on Bitcoin:
that it “could be an asset class that has a lot of attraction as a store of value to both millennials and the new West Coast money.”

In recent years, investing in Bitcoin has been seen as a possible way to diversify one’s investment portfolio.
As a result of COVID-19 and what’s happened to the stock markets, an intriguing question has been brought up:
is investing in Bitcoin as good as investing as gold?

Read our blog post here: Is Bitcoin the “gold” of crypto investment?

Bitcoin vs Gold, what is a better investment in your opinion?

Thanks,
Karl
Bitcasino.io

Some companies are already switching from gold to Bitcoin, and I think it's pretty accurate to say that gold is a dead asset. I believe gold is still good if the primary objective is to save what one already has. But if the goal is to make profit, then Bitcoin is a better investment. It's more risky, but also way more rewarding. That being said, I read just yesterday about some investment company that moved from gold to BTC, and the news was on the day Bitcoin cost $19k. I think buying when the price is so high it's not wise to start investing. It's better to wait and see where this is going because Bitcoin might go down to $15k or $10k in the near future. If the objective is to invest long-term (waiting for 5 years for profit, for instance), then it's fine to buy now, but if we're talking about some result in months or one year, it's too risky right now.

[bryant.coleman]

Rather than considering as the "gold" of crypto investment, Bitcoin should be considered as the original cryptocurrency. It was the original asset invented by Satoshi Nakamoto in 2008. All the other cryptocurrencies such as Ethereum and Litecoin have plagiarized at least a part of the idea from Bitcoin. Some of them may be more technologically advanced, but the basic idea came from Bitcoin.

[Baskeyairdrop]

A rapid fluctuation in Bitcoin makes it unstable for investment unlike gold which rate do not fluctuate drastically. Since it is not a trade business but an investment which is expected to yield profit after a long while, I would go for gold...
The profit might be minimal but you sure would make profit unlike btc.

[Silberman]

I think both of them are good to prefer. Bitcoin could be a good choice lately because of its being on a very good rally. But we don't know when this rally will end. Gold is also a very good choice instead of investing in fiat money. Because for example; when an economic crisis happens, gold and Bitcoin could be more valuable than fiat.

You are not wrong however who has the money to invest in both at the same time? Most of the members of the forum do not have a lot of money and they need to pick one or the other and when we take into account their performance during the last years then it is completely obvious that bitcoin is the best choice for those looking to make profits, so while gold is not a bad choice most people will select bitcoin simply for the superior benefits they will get out of it.

[Pizzalover420]

Digital gold and Digital oil are not really useful, what`s next digital food?

[ILuckyGuyI]

I think Bitcoin is a very good option as gold. There are differences like very high volatility. But both of them can be very profitable in the long run. Also in an economic crisis, I think both of them will be very valuable because fiat will devaluate.

[oktana]

Bitcoin vs Gold, what is a better investment in your opinion?

When you say gold, what do you mean? The physical heavy gold? I'm asking because there are coins that are created to have a pegged price with gold. Secondly, bitcoin is what I may choose but then, gold has a lower act of volatility which makes it safer.

[n0ne]

Yes, bitcoin is truly the gold of crypto investment. Though we've got lots and lots of cryptocurrencies in the market, bitcoin stands strong and high in the market same as gold stands against silver and other valuable metals. There are lots of cryptocurrencies that grow high in the market, but bitcoin is the one that is being trusted. Based on all these facts bitcoin is the gold of crypto investment.

[Silberman]

Bitcoin vs Gold, what is a better investment in your opinion?

When you say gold, what do you mean? The physical heavy gold? I'm asking because there are coins that are created to have a pegged price with gold. Secondly, bitcoin is what I may choose but then, gold has a lower act of volatility which makes it safer.

It is obvious that is exactly what he means, fiat currencies at the beginning of their lives began as currencies that were backed by gold and then little by little governments all over the world began to leave behind that standard until literally currencies had value only because governments say that they do, and even to this day many of those investments that are supposedly backed by gold are not and are really only a way to speculate with it, so whenever you read conversations about bitcoin versus gold they are always talking about the metal.

[pixie85]

If Bitcoin is the gold of crypto then what can be described as silver? Long ago LTC was the silver to bitcoin's gold, it even used a silver logo to promote this difference but now when it got mostly abandoned I don't feel like it's relevant.

As an alternative to gold bitcoin is great because you can't sell gold fast and it's difficult to move it to another country. Bitcoin is just faster and safer.

[kawetsriyanto]

If that is likened to how worthy Bitcoin is, it could be that BTC is worth it as well as gold. However, this is actually a different matter. Starting from the availability, value, and acceptance. This includes volatility and liquidity. Bitcoin is sometimes considered as the gold of currency. But, this is still confusing and still debatable. We may be thinking of the comparison of BTC and gold. But in fact, we support both to be a worthy investment, why not?

[CarnagexD]

I hope you don't mean that it is on par with gold because gold is way out of bitcoin's league when it comes to price. Availability wise, bitcoin wins as it has virtually more accessible coins up there that are also easier to mine unlike gold. It also can't lose value as it does not wear out or deplete. And most of all, it has an insane price per piece ratio compared to gold's. Nonetheless, one can definitely say that bitcoin is the gold of cryptocurrency

[oktana]

Bitcoin vs Gold, what is a better investment in your opinion?

When you say gold, what do you mean? The physical heavy gold? I'm asking because there are coins that are created to have a pegged price with gold. Secondly, bitcoin is what I may choose but then, gold has a lower act of volatility which makes it safer.

It is obvious that is exactly what he means, fiat currencies at the beginning of their lives began as currencies that were backed by gold and then little by little governments all over the world began to leave behind that standard until literally currencies had value only because governments say that they do, and even to this day many of those investments that are supposedly backed by gold are not and are really only a way to speculate with it, so whenever you read conversations about bitcoin versus gold they are always talking about the metal.

If so, then why would one choose gold over bitcoin. Considering that it's the physical metal, there are lots of disadvantages that comes with it. The fact that it is heavy, it could attract buglers, it's not something you can easily carry around, you cannot access it except you're physically with it. But Bitcoin? It's not heavy, can attract buglers (but this can only happen if you let it out to someone), it's something you can carry easily (whether in a pen drive or your phone).

[Zemomtum]

I think it is better to diversify, investment in Gold and BTC will be a good choice and we don't necessarily need to compare both, they have proven to be a safe haven and they will remain so for long if not internity.

[jaberwock]

Lol you already said that bitcoin is like the gold of cryptocurrency investment, why then do you ask which one is the best? They are both good, it depends on what you want and the level of risk you’re able to take. Investing in bitcoin carries a big risk and the price is very volatile, gold is not as much volatile as bitcoin is, so it’s kind of less risky asset to invest your money in. But they are both good in their ways.

I would choose bitcoin though because that’s what I like, I just like bitcoin , it’s different in lots of ways compared to gold, it can easily be used for transaction, which is the first thing I used it for. So, I give it to bitcoin.

[Debonaire217]

IMO, we can compare Bitcoin to Gold in many ways, the first one is their scarcity, the only difference is that Bitcoin's actual volume is known and could be tracked, but Gold isn't but we know that it is scarce. Another one is that both Bitcoin and Gold have a practical purpose, for Bitcoin, it could be used for a transaction, investment, and much more undiscovered. The same with Gold, it could be traded, sold, and be formed as jewelry or a conductor for devices. Going back, the case here is about investment. Bitcoin and Gold in that case aren't the same and completely different. There is a driving factor of demand in Bitcoin such as when there's a bitcoin halving, the price could be pushed way up to higher which will direct its path in the long term as progressive, there are also seasonal changes especially the volatility of Bitcoin is sometimes unpredictable, unlike Gold which is steady. But one thing for use is that both Bitcoin and Gold could work hand in hand as we could use Gold to Back Bitcoin or vise Versa.

[btcsmlcmnr]

People call bitcoin is digital gold. Litecoin is digital silver. It can not be assessed as correct or wrong completely. It is somewhat correct in my opinion.

Although the correctness, there are missing points. Gold and silver have unknown total supplies. Bitcoin has a well known and fixed total supply. Although everyone knows the total supply of bitcoin, we can not identify how many gold or silver can be mined on the planet. Even we can identify such supplies very correct on the planet, in the future with the development of science and technologies, human can get more gold and silver from other planets.

Fortunately with bitcoin, no one can mine more than 21 millions. 

[marcous]

If people who understand the world of crypto. would be prefer to Bitcoin than gold I guess.  The value of gold is stable in contrast to volatile Bitcoin.  Gold and bitcoin managed to become one of the most profitable investment assets in the first half of this year.  But if Bitcoin can break 20k $ then it will be ready to soar even more expensive. there are advantages and disadvantages of each too.  however as long as we invest Bitcoin on the top exchanges it will be safe.  holding Bitcoin will be easier when we suddenly need money especially during a pandemic like this.

[coolcoinz]

I think it is better to diversify, investment in Gold and BTC will be a good choice and we don't necessarily need to compare both, they have proven to be a safe haven and they will remain so for long if not internity.

It's not a bad idea to have both if you have the money but it's usually people who have very little and still want to invest who have this dilemma. What do do when you have 1k USD to invest? Buy 500 in Bitcoin and 500 in gold? It sounds like a huge hassle, especially when having 500 USD you probably have to buy gold shares instead of the real thing and Bitcoin is Bitcoin (unless you want to use a trading desk or PayPal).