trickbergen5
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January 31, 2021, 02:56:51 PM |
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We have no way of truly attaching a hard value to an ounce of gold, and it is not used as a currency. However, faith in the metal itself keeps it valuable – the value of gold is in the minds of those trading it - Bitcoin is valuable because those trading Bitcoin consider it to be valuable. Both are of limited quantity; both are considered a hedge; both are seen as an anti-fiat currency. In many ways, Bitcoin seemed to be designed – whether intentionally or not – as a virtual form of gold. ] I can only find their similiraties but in the eyes of most people, bitcoin and gold are in competition and would be trying to fight each other by increasing their values.
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fahmimajannat
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January 31, 2021, 04:13:58 PM |
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I don’t thing so. They are completely to difference things. But there is a coincidence that maked a dout. For the bull market both things price is going up and up. Even coincidentally both price have risen to twice from they were before. But It's Just and coincidence. There is no connection between them.
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EvAng3l1on
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February 01, 2021, 06:07:34 AM |
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Bitcoin and gold share the same purpose. They are both hedges against global insecurity, economic instability, and inflation. Both assets are intended to provide security for investments. However, GOLD is a physical asset that has many intended uses, which makes it a highly sought after resource while BTC still a virtual one which sometimes crypto traders used to trade at a particular exchange
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CryptopreneurBrainboss
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February 01, 2021, 07:48:30 AM |
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I can only find their similiraties but in the eyes of most people, bitcoin and gold are in competition and would be trying to fight each other by increasing their values.
We are the only one thinking there's a competition between both assets. The two are different and unique in their own ways. While one already has the trust of the people for been a safe heaven, the other is been seen as a very volatile (which it's), speculative assets that has no real life usages. The only relationship I can think off is both been a better alternative to the fiat system, if you're looking for a way to escape the Ponzi scheme called the fiat system, you can used that worthless fiats to buy gold (if you intend taking less risk). Or buy bitcoin (if you'll be comfortable with the risk it posses) and do understand that it has greater chances of outperforming any assets since it's relatively new and has a better technology and mode of operation which is decentralized and also digitalized unlike gold that's the direct opposite.
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Kittygalore
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February 01, 2021, 08:51:06 AM |
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Bitcoin and gold share the same purpose. They are both hedges against global insecurity, economic instability, and inflation. Both assets are intended to provide security for investments. However, GOLD is a physical asset that has many intended uses, which makes it a highly sought after resource while BTC still a virtual one which sometimes crypto traders used to trade at a particular exchange Gold is more of Great Depression type of hedge but bitcoin is just a general unrest in the economy and I do not think that they share the same purpose. Bitcoin does not provide security like gold, remember that gold is still the chosen reserve by countries even though bitcoin is a far better option for security. As far as I know from bitcoin and gold, there is no relation whatsoever, gold will not be able to influence bitcoin price movements and vice versa bitcoin will not be able to influence gold price movements, but if you want to get a lot of profit then you can buy bitcoin and use bitcoin as much as you can, bitcoin will provide a lot of profit because of the influence of limited supply and very high demand.
What you know so far is right, bitcoin does not have any relation to gold. For me, the only relation that gold and bitcoin has is that people keep insisting that they have a relation, don't they know that there will be chances that the prices of both market goes down the same way, well if we will go that far, I think bitcoin, stock market, gold and airplanes have a relation, and that is all of them goes up and down.
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JimmMull
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February 01, 2021, 10:58:29 AM |
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Bitcoin and gold share the same purpose. They are both hedges against global insecurity, economic instability, and inflation. Both assets are intended to provide security for investments. However, GOLD is a physical asset that has many intended uses, which makes it a highly sought after resource while BTC still a virtual one which sometimes crypto traders used to trade at a particular exchange Gold is more than that tbh and seeing their individual market activity over the past few years, it is understandable why many believe that bitcoin could ultimately replace gold in terms of value but bitcoin still continues to experience significant price fluctuation that often results in substantial losses. Another reason that the bitcoin is unlikely to replace gold as an investment asset is that the system has yet to achieve full status as a truly "universal" and legitimate form of currency. Many countries, including Germany, Norway, Russia, France, Thailand and Korea, refuse to use the bitcoin for fear of potential loss. In fact, several have gone as far as making it illegal in their country. BTC will always be that safe-haven coin to the people that believes in it, but bitcoin is still far from the finish line.
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SquallLeonhart
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February 01, 2021, 04:35:51 PM |
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Gold is more than that tbh and seeing their individual market activity over the past few years, it is understandable why many believe that bitcoin could ultimately replace gold in terms of value but bitcoin still continues to experience significant price fluctuation that often results in substantial losses.
Another reason that the bitcoin is unlikely to replace gold as an investment asset is that the system has yet to achieve full status as a truly "universal" and legitimate form of currency. Many countries, including Germany, Norway, Russia, France, Thailand and Korea, refuse to use the bitcoin for fear of potential loss. In fact, several have gone as far as making it illegal in their country.
BTC will always be that safe-haven coin to the people that believes in it, but bitcoin is still far from the finish line.
Volatility is really not enough reason to say that they are not like each other, I would say they are quite like each other even with volatility considered. Could you pay for something with gold? Rarely, I mean most places do not accept gold but if you deal with someone and told them you are going to give them a huge gold bar, taking all the fee's into consideration and all the expense and how slow it would get it, you could still do it, it is not illegal to do it after all. Same applies to bitcoin, you do not have millions of places accepting it, but if you talk and agree with someone over bitcoin payment you could still do it with slow transaction speed and expensive fee's as well. Also they are both store of value as well, which helps with investing into both of them and that is where volatility of bitcoin matters but in the long term both of them are destined to go up.
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kram31
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February 03, 2021, 10:46:18 PM |
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This is between Physical and Invisible were they cannot be the same. So there is no similarity due to they are differ into one another. In short, Bitcoin and Gold doesn't have any relationship literally speaking, But in traditional way of business Gold is very popular worldwide, while Bitcoin is very popular in in digital world online business.
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Kelvinid
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February 03, 2021, 11:11:24 PM |
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I don’t think there is any such relationship between bitcoin and gold.
There is nothing, no need to doubt and compared them. They are created for a different purpose, so much to say that they are not competing with each other unlike what others say and think. It is so many times that this has been asked, comparing Bitcoin and Gold, There is no ending story of asking about them, and even we take a look at them, it is pretty obvious that they are different. There is only one thing in common with them is that they a valuable asset (physical asset vs virtual asset).
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el kaka22
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February 04, 2021, 06:53:06 PM |
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I don’t think there is any such relationship between bitcoin and gold.
There is nothing, no need to doubt and compared them. They are created for a different purpose, so much to say that they are not competing with each other unlike what others say and think. It is so many times that this has been asked, comparing Bitcoin and Gold, There is no ending story of asking about them, and even we take a look at them, it is pretty obvious that they are different. There is only one thing in common with them is that they a valuable asset (physical asset vs virtual asset). I believe there is a "slight" similarity but it is based on the fact that what people perceive them as and not what they are. Obviously crypto and gold are very two different things and that is why I think it is quite clear that people do not really see them as the same thing, they know they are different obviously. However even though they are two different things, in their own rights, they are also both can be used as store of value, a way to run away from ever devaluing fiat currencies and running towards having gold or crypto to save your wealth. I do not know gold number so I am going to go with bitcoin for an example. Let's say you have 1 bitcoin at 35k today, you can buy a tesla with it (I don't know if you can, I am just assuming), 50 years from now, bitcoin would be 250k and tesla will be 250k as well, this means if you kept it as fiat, you would have 35k and can't buy a tesla, but now you can still get one. That is how people see both bitcoin and gold.
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Lanatsa
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February 04, 2021, 06:58:50 PM |
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I don’t think there is any such relationship between bitcoin and gold.
There is nothing, no need to doubt and compared them. They are created for a different purpose, so much to say that they are not competing with each other unlike what others say and think. It is so many times that this has been asked, comparing Bitcoin and Gold, There is no ending story of asking about them, and even we take a look at them, it is pretty obvious that they are different. There is only one thing in common with them is that they a valuable asset (physical asset vs virtual asset). Indeed but people do keep comparing off things even its clear that they are really just different.Digital Gold and literally a Gold? Who would really be tending to say that they are just the same? I don't know on whats up to the minds of other people or investor on why they are really fan on attaching things on something that shouldn't really be attached? Lol. If you are in torn on choosing which one neither bitcoin or gold then why wont choose both?
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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JooBra
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February 04, 2021, 08:14:28 PM |
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I don’t think there is any such relationship between bitcoin and gold.
There is nothing, no need to doubt and compared them. They are created for a different purpose, so much to say that they are not competing with each other unlike what others say and think. It is so many times that this has been asked, comparing Bitcoin and Gold, There is no ending story of asking about them, and even we take a look at them, it is pretty obvious that they are different. There is only one thing in common with them is that they a valuable asset (physical asset vs virtual asset). Indeed but people do keep comparing off things even its clear that they are really just different.Digital Gold and literally a Gold? Who would really be tending to say that they are just the same? I don't know on whats up to the minds of other people or investor on why they are really fan on attaching things on something that shouldn't really be attached? Lol. If you are in torn on choosing which one neither bitcoin or gold then why wont choose both? There is so much hype around crypto general so people believe everything. Calling it digital gold give a wrong impression about BTC for new people. With time people will understand.
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Renampun
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February 05, 2021, 04:02:36 PM |
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Hello Everyone, Wish you a Merry Christmas!
I am a crypto trader as well as a forex trader. I started working on forex recently. I saw some relationship between BTC and Gold. When the BTC pump Gold will fall. On the other hand when a Gold pumps, Btc down. Are there any who noticed this?
it can be said that gold and Bitcoin have a little relationship... actually not a direct relationship it's just that when the price of Bitcoin goes up and the price of gold goes down it means gold investors move their funds from gold to Bitcoin. I forgot in the thread where I ever read it, it said that many gold investors have moved their funds from gold to Bitcoin.
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Lanatsa
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February 05, 2021, 06:19:27 PM |
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I don’t think there is any such relationship between bitcoin and gold.
There is nothing, no need to doubt and compared them. They are created for a different purpose, so much to say that they are not competing with each other unlike what others say and think. It is so many times that this has been asked, comparing Bitcoin and Gold, There is no ending story of asking about them, and even we take a look at them, it is pretty obvious that they are different. There is only one thing in common with them is that they a valuable asset (physical asset vs virtual asset). Indeed but people do keep comparing off things even its clear that they are really just different.Digital Gold and literally a Gold? Who would really be tending to say that they are just the same? I don't know on whats up to the minds of other people or investor on why they are really fan on attaching things on something that shouldn't really be attached? Lol. If you are in torn on choosing which one neither bitcoin or gold then why wont choose both? There is so much hype around crypto general so people believe everything. Calling it digital gold give a wrong impression about BTC for new people. With time people will understand. Yeah, I agree into these words where people would really know the truth as they hover out and hanging around into this market.This isn't something that would really literally can be compared with gold but somehow with some characteristics or behavior then you can blame out people on not to make one when it comes to similarities. In truth speaking I don't really see any relationship not only just on gold but also in other things as well like directly on fiat currencies or even on stocks. It isn't just right for you to connect the dots which aren't really supposed to do so.
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New.in.trading
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February 05, 2021, 06:44:45 PM |
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Hello Everyone, Wish you a Merry Christmas!
I am a crypto trader as well as a forex trader. I started working on forex recently. I saw some relationship between BTC and Gold. When the BTC pump Gold will fall. On the other hand when a Gold pumps, Btc down. Are there any who noticed this?
I think both are Value-Stores. XauUsd is more for ppl who want to buy gold, and store it their houses. BtcUsd is more for "online" ppl. as you need at least electric to exchange BTC. So Gold imho is more a physic store, whereas BTC is more a digital store of value.
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raji1995naya (OP)
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February 05, 2021, 07:16:17 PM |
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Bitcoin and gold to deference currency. I think don't have any connection in there. If you follow bitcoin price chart you saw that bitcoin price all time increase and decrease but gold price can not increase and decrease in same way. So i think don't have any relationship between Gold and bitcoin.
I disagree with you, all cryptocurrency is related to each other but the bitcoin is most demand crypto. There are several crypto currency that can be use to exchange in local currency, my point is the other crypto like gold need to trade on other currency like bitcoin before local currency that will become fiat. Indeed, if they trade both, the stock of bitcoin will decrease and the value will increase and the stock of gold will increase so the value will decrease. So I want you to make an analysis about last week. If you carefully analyze it you can see that starting from Monday Gold was selling and Bitcoin started to pump. This is one example for my point.
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raji1995naya (OP)
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February 05, 2021, 07:21:59 PM |
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We have no way of truly attaching a hard value to an ounce of gold, and it is not used as a currency. However, faith in the metal itself keeps it valuable – the value of gold is in the minds of those trading it - Bitcoin is valuable because those trading Bitcoin consider it to be valuable. Both are of limited quantity; both are considered a hedge; both are seen as an anti-fiat currency. In many ways, Bitcoin seemed to be designed – whether intentionally or not – as a virtual form of gold. ] I can only find their similiraties but in the eyes of most people, bitcoin and gold are in competition and would be trying to fight each other by increasing their values. I can't agree with the part which says Both are limited quantity. Coz Bitcoin supply will end in 2140 and the date that Gold supply end is not declared yet. And the thing is I m not going to connect those two metal and Digital currency. I just have a point when the whales are moving between these two currencies the dumps and pumps occur. As an example please analyze both Gold and Bitcoin charts starting from last Monday. So you can see the difference and how the thing was going on.
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raji1995naya (OP)
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February 05, 2021, 07:25:46 PM |
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I can only find their similiraties but in the eyes of most people, bitcoin and gold are in competition and would be trying to fight each other by increasing their values.
We are the only one thinking there's a competition between both assets. The two are different and unique in their own ways. While one already has the trust of the people for been a safe heaven, the other is been seen as a very volatile (which it's), speculative assets that has no real life usages. The only relationship I can think off is both been a better alternative to the fiat system, if you're looking for a way to escape the Ponzi scheme called the fiat system, you can used that worthless fiats to buy gold (if you intend taking less risk). Or buy bitcoin (if you'll be comfortable with the risk it posses) and do understand that it has greater chances of outperforming any assets since it's relatively new and has a better technology and mode of operation which is decentralized and also digitalized unlike gold that's the direct opposite. I can agree with the part of your statement. they have unique features. Of course yes! And Gold is a safe haven assets already. After the popularity of Bitcoin it also now acting as a safe haven. So the whale ( Not like retail traders like us) are moving huge volumes between these two assets. It cause to pumps and dumps. I can provide many examples that tally with my statement. A recent example is the last week Gold Chart and Bitcoin chart. please compare them carefully. So you will have a clear idea about my statement.
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beerlover
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February 06, 2021, 07:09:35 PM |
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We are the only one thinking there's a competition between both assets. The two are different and unique in their own ways. While one already has the trust of the people for been a safe heaven, the other is been seen as a very volatile (which it's), speculative assets that has no real life usages. The only relationship I can think off is both been a better alternative to the fiat system, if you're looking for a way to escape the Ponzi scheme called the fiat system, you can used that worthless fiats to buy gold (if you intend taking less risk).
Or buy bitcoin (if you'll be comfortable with the risk it posses) and do understand that it has greater chances of outperforming any assets since it's relatively new and has a better technology and mode of operation which is decentralized and also digitalized unlike gold that's the direct opposite.
I can agree with the part of your statement. they have unique features. Of course yes! And Gold is a safe haven assets already. After the popularity of Bitcoin it also now acting as a safe haven. So the whale ( Not like retail traders like us) are moving huge volumes between these two assets. It cause to pumps and dumps. I can provide many examples that tally with my statement. A recent example is the last week Gold Chart and Bitcoin chart. please compare them carefully. So you will have a clear idea about my statement. That doesn't mean that they are same thing, just like cryptopreneurbrainboss says they are different things. Just because you use something for the same reason doesn't mean that they are the same thing. For simple reasons think of a fork and a knife, you want to cut a meat right? Knife does it very easily, fork can still technically do it with the sides of it and it will take time but you can still do it, a fork is not a knife and a knife is not a fork but you did same thing with both of them, now that meant is cooked think about using a fork to pick it up and eating, and think about a knife and poking it and eating it, you did the same thing with them again even though one was better. So you see, bitcoin and gold are alike enough that you can do the same thing, we didn't say shoe, we said fork and knife, but they are still not the same thing.
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MWesterweele
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February 06, 2021, 09:11:48 PM Last edit: February 08, 2021, 01:57:35 PM by MWesterweele |
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Indeed but people do keep comparing off things even its clear that they are really just different.Digital Gold and literally a Gold? Who would really be tending to say that they are just the same?
I don't know on whats up to the minds of other people or investor on why they are really fan on attaching things on something that shouldn't really be attached? Lol.
If you are in torn on choosing which one neither bitcoin or gold then why wont choose both?
Physical phase and existence such as gold as a tangible and bitcoin as an intangible we could finally say that the two are not comparable and no need to be compared of. Both were important in their own areas where they were belong and existed and we are lucky enough that we are belong to the community where we can earn a profit from an intangible phase of currency but yet it does existed. But the sad truth is, people are looking for a perfect reason why such a bitcoin does valued like a value it has right now, but the truth is a bitcoin could be considered as a gold in the world of digital currency and there is no relationship between the gold stone.
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