"Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now?

[doomloop]

It is true that gold is going down right now. But I don't agree when you say that gold is going down because people are increasingly flocking to Bitcoin. What happening with gold right now is a temporary slump. In the long-term I expect gold to trade at around $5,000 per oz. Gold remains the most trusted and accepted store of value. Bitcoin will take a long time to overtake gold in this regard.

I don't think gold prices has much to do with Bitcoins either. Yes the trend has changed and people might be buying more virtual or online shares as compared to physical assets but that doesn't mean there is any shortage of buyers and investors in gold. The prices for gold are always going up or down without much of a reason.

Bitcoin is not eating gold. Instead it reflect the gold.The price of bitcoin over a period increased some high.Now the price of gold also increased to next level.Many people who holding gold over decade had sold gold at highest price and make use of that money to buy their home.This growth only happen in bitcoin and it's now happening with gold.

Yes, gold is still as scarce as ever and unless Musk finds a planet for gold which I heard in some article, it is going to remain scarce for years to follow. Yes, I don't invest in gold but that doesn't mean I hate or underrate gold investors and holders. Everyone have their own preferences/priorities when investing and gold is still one of the top preferences, Bitcoin has raised in priority no doubt though.

[jaysabi]

I saw this interesting tweet today.


source: https://twitter.com/Schuldensuehner/status/1361944837742874631

As we can see, GOLD price is dropping the last 6 months (-10%), while Bitcoin is doing really well (-317%).
Some of the gold market cap might be moving to BTC.



Would it be an interesting idea to take some profits from BTC recent gains and buy some gold? Gold is the oldest asset I know of, and it will certainly hold value over the next years to come.

I am still accumulating BTC, but to accumulate some Gold is always a good idea.

Gold is an inferior investment in almost every regard. It's a hedge against extreme economic upheaval, which makes it a conservative investment. The market has absolutely destroyed gold since 2008 (before the financial crisis).  Since 2008, gold has returned 77% while the S&P has returned 261%.  The opportunity cost of owning gold over long periods of time is very high, but you are more protected in the case of extreme volatility.

[slapper]

Instead of taking profit from bitcoin to buy gold, why not wait for the price of bitcoin to drop and then rebuy it? I believe this is a better idea than buying gold. Gold is known as the oldest asset on the planet but it does not mean it is the profitable one. Bitcoin has a significant performance recently and because of that reasons, bitcoin should be bought and accumulate not just short term but also for the future purposes

Indeed, you can buy gold if you afford a smaller profit but along with it is the safer haven with less volatility. Though, if I had to invest in gold, I would use leverage to intensify my profit. It is up to you

[Casdinyard]

I saw this interesting tweet today.


source: https://twitter.com/Schuldensuehner/status/1361944837742874631

As we can see, GOLD price is dropping the last 6 months (-10%), while Bitcoin is doing really well (-317%).
Some of the gold market cap might be moving to BTC.



Would it be an interesting idea to take some profits from BTC recent gains and buy some gold? Gold is the oldest asset I know of, and it will certainly hold value over the next years to come.

I am still accumulating BTC, but to accumulate some Gold is always a good idea.

Gold is an inferior investment in almost every regard. It's a hedge against extreme economic upheaval, which makes it a conservative investment. The market has absolutely destroyed gold since 2008 (before the financial crisis).  Since 2008, gold has returned 77% while the S&P has returned 261%.  The opportunity cost of owning gold over long periods of time is very high, but you are more protected in the case of extreme volatility.

The misconception I think, that should be pointed out to other investors. Bitcoin have beaten the market price of Gold not only at this moment but even before. But is it the market price which is the basis to determine what investment would be best? First thing is investor's preference. If risk won'5 be a problem  go for Bitcoin given that it is showing higher rate of increase. But if it is consistency, Gold will have the biggest advantage. The price of these two has the possibility to be bigger in the future and things will vary on the risks involved. So if you are torn between these two, know your preference and to how much could you take the risk.

[South Park]

Ideally we would have expected the gold prices to go up along with the hyperinflation caused by the stimulus measures, but the prices are actually going down. Many of the analysts are saying that there is an oversupply of gold at the market right now, because of people liquidating their gold savings to survive during the pandemic period. This is especially true here in India and I have seen for myself how people are selling their gold ornaments and coins after losing their jobs.

That is very common, it is known that at the beginning of an important economic crisis people and businesses have the tendency to sell their best assets, this puts more of that asset on the market and makes the price to go down significantly, but then once those people run out of that asset the price begins to climb relatively quickly, in fact we saw something similar with bitcoin during the crash of March and then we saw and impressive increase in its price as well.

[jaysabi]

I saw this interesting tweet today.


source: https://twitter.com/Schuldensuehner/status/1361944837742874631

As we can see, GOLD price is dropping the last 6 months (-10%), while Bitcoin is doing really well (-317%).
Some of the gold market cap might be moving to BTC.



Would it be an interesting idea to take some profits from BTC recent gains and buy some gold? Gold is the oldest asset I know of, and it will certainly hold value over the next years to come.

I am still accumulating BTC, but to accumulate some Gold is always a good idea.

Nobody who wants to make money accumulates gold. Gold is only for people who have immense wealth and want to protect against the unlikely scenario where there is mass economic upheaval and you want to lose as little money as possible during it.  Gold returns are inferior to just about every major asset class- real estate, the stock market, etc.  Gold has returned about 75% since just before the housing crisis while the S&P has returned more than 300%.

[oHnK]

Gold returns are inferior to just about every major asset class- real estate, the stock market, etc.  Gold has returned about 75% since just before the housing crisis while the S&P has returned more than 300%.

Isn't that a natural thing?  Because whatever has a low risk, the return will also be low.  The higher the risk, the higher the resulting return.  I think it's talked about very often here.  Stocks, real estate and Bitcoin carry a much higher level of risk than Gold.  Even though Bitcoin and other investments are able to exceed the price of gold, gold is still believed to be a safe asset.

[hahay]

I personally only believe gold can be the safest investment in the long term, so buying it when its value drops or not I think it's a good choice. Buying gold and bitcoin is basically the right investment so there is nothing wrong with it, then the choice goes back to individual confidence as there is nothing to research anymore for both of which are basically places for us to invest.

[South Park]

I personally only believe gold can be the safest investment in the long term, so buying it when its value drops or not I think it's a good choice. Buying gold and bitcoin is basically the right investment so there is nothing wrong with it, then the choice goes back to individual confidence as there is nothing to research anymore for both of which are basically places for us to invest.

People have different preferences, for those that do not trust the new technology gold can be a good option and for those that prefer the ease of use of bitcoin then they will choose it over gold, the big issue is that very few people are holding any of the two so when an economic crisis happens they lose their jobs and their wealth, it is sad but at the same time that is the fate of those that do not take the time to care about their finances and study the field to improve their lives.

[LUCKMCFLY]

I personally only believe gold can be the safest investment in the long term, so buying it when its value drops or not I think it's a good choice. Buying gold and bitcoin is basically the right investment so there is nothing wrong with it, then the choice goes back to individual confidence as there is nothing to research anymore for both of which are basically places for us to invest.

People have different preferences, for those that do not trust the new technology gold can be a good option and for those that prefer the ease of use of bitcoin then they will choose it over gold, the big issue is that very few people are holding any of the two so when an economic crisis happens they lose their jobs and their wealth, it is sad but at the same time that is the fate of those that do not take the time to care about their finances and study the field to improve their lives.

Gold has a lot of history, in fact gold is always seen as the safe haven, in the worst world crises the only way out is through gold.

Currently Bitcoin is being presented, for some it represents Digital Gold, but in general terms it represents Value and Money, the great boom of Bitcoin has made many investors have migrated from gold investment to Bitcoin, in fact, in times of pandemic, the The least suffered from market declines was gold and bitcoin, bitcoin recovered quickly and continues to provide good news, some predict it will reach $100k. Always the best option will be to have an investment in Gold and Bitcoin, I think it would be the best way to diversify our money.

Bitcoin has been gaining more confidence, of course that Gold represents security, especially for governments and banks in general, bitcoin today has a value in dollars that is higher than gold, but despite this, many continue to trust more in gold.

As time goes by and people know more about Bitcoin, it will have more acceptance, in the near future bitcoin may be more accepted worldwide even by governments, since you cannot cover the sun with a finger.

[South Park]

Gold has a lot of history, in fact gold is always seen as the safe haven, in the worst world crises the only way out is through gold.

Currently Bitcoin is being presented, for some it represents Digital Gold, but in general terms it represents Value and Money, the great boom of Bitcoin has made many investors have migrated from gold investment to Bitcoin, in fact, in times of pandemic, the The least suffered from market declines was gold and bitcoin, bitcoin recovered quickly and continues to provide good news, some predict it will reach $100k. Always the best option will be to have an investment in Gold and Bitcoin, I think it would be the best way to diversify our money.

Bitcoin has been gaining more confidence, of course that Gold represents security, especially for governments and banks in general, bitcoin today has a value in dollars that is higher than gold, but despite this, many continue to trust more in gold.

As time goes by and people know more about Bitcoin, it will have more acceptance, in the near future bitcoin may be more accepted worldwide even by governments, since you cannot cover the sun with a finger.

While the history of gold is undeniable I think the preference of gold over bitcoin is also a generational thing, young people those that are 30 years old or less prefer bitcoin over gold, if we give it a few decades and the young people still prefer bitcoin over gold and those that are currently 30 years old maintain their current preference we could see a massive migration from gold to bitcoin simply because of that generational change in the way people prefer to store their value.

[Vishnu.Reang]

I strongly believe that one of the reason investors are getting rid of gold is because it is more vulnerable to confiscation. The government, with the multi-trillion stimulus measures is fast running out of cash. The federal debt is ballooning. The only way for them to move forward is wealth confiscation. In Cyprus they targeted the savings bank accounts. But I have a feeling that this time it will be worse. The governments will start confiscating equities, bullion and real estate. They will implemented the tried and trusted method of stealing from the top 10%, to feed the remaining 90%. This may be one of the reasons why assets such as Bitcoin (that can be protected from confiscation) is rising, while physical assets such as gold and silver are going down.

[ven7net]

Although I am a supporter of crypto and I believe that cryptocurrencies will continue to occupy a part of the world market, however, as for gold, there is an opinion that over the next 1 to 3 years the price of gold may fly farther than the moon. This is not my opinion, but one person and it is based on the future solution of problems associated with the global monetary system. In general, there is a high probability that in the near future there will be a return to the gold standard system and the currencies of states will again be tied to gold. According to this person, from the beginning we will observe a fall in the price of gold and an increase in the US dollar, and after a collapse of both the dollar and the crypto market and a crazy rise in gold. I would not underestimate this opinion, since it makes sense and the likelihood that everything will happen just like that. Of course, this does not mean that the US dollar and cryptocurrencies will disappear, no, it may mean that they will lose their value.

[jaysabi]

Gold returns are inferior to just about every major asset class- real estate, the stock market, etc.  Gold has returned about 75% since just before the housing crisis while the S&P has returned more than 300%.

Isn't that a natural thing?  Because whatever has a low risk, the return will also be low.  The higher the risk, the higher the resulting return.  I think it's talked about very often here.  Stocks, real estate and Bitcoin carry a much higher level of risk than Gold.  Even though Bitcoin and other investments are able to exceed the price of gold, gold is still believed to be a safe asset.

Yeah, it's definitely related. Risk is associated with volatility, so things with lower volatility are considered "safer." Gold doesn't have the volatility of other asset classes, so by definition it's not going to rise as high in good economic times but it's not going to fall as low in bad economic times. But it's why it's a bad investment if you're trying to make wealth and not protect it.

[South Park]

I strongly believe that one of the reason investors are getting rid of gold is because it is more vulnerable to confiscation. The government, with the multi-trillion stimulus measures is fast running out of cash. The federal debt is ballooning. The only way for them to move forward is wealth confiscation. In Cyprus they targeted the savings bank accounts. But I have a feeling that this time it will be worse. The governments will start confiscating equities, bullion and real estate. They will implemented the tried and trusted method of stealing from the top 10%, to feed the remaining 90%. This may be one of the reasons why assets such as Bitcoin (that can be protected from confiscation) is rising, while physical assets such as gold and silver are going down.

Smart people are aware of history, those that say that gold is better seem to conveniently forget there was a time in which the US government basically made illegal for their citizens to hold gold and confiscated the gold that was in private hands, while economists tried to make it seem as if the crisis of 2007 was worst than the great depression that is false, if something as big as that happens now then I can clearly see governments turning to confiscatory policies way worse than that and they may even demand that you give them your bitcoin, which is why it is important to remain silent about your bitcoin holdings.

[jaysabi]

I strongly believe that one of the reason investors are getting rid of gold is because it is more vulnerable to confiscation. The government, with the multi-trillion stimulus measures is fast running out of cash. The federal debt is ballooning. The only way for them to move forward is wealth confiscation. In Cyprus they targeted the savings bank accounts. But I have a feeling that this time it will be worse. The governments will start confiscating equities, bullion and real estate. They will implemented the tried and trusted method of stealing from the top 10%, to feed the remaining 90%. This may be one of the reasons why assets such as Bitcoin (that can be protected from confiscation) is rising, while physical assets such as gold and silver are going down.

This isn't true, the government literally can't run out of money because it creates the money supply. The way to move forward isn't wealth confiscation, it's either austerity to get the deficit under control, or monetizing the debt by having the Fed continue to buy treasury issues which increases the money supply. There will not be confiscation in the US, property law is too much ingrained into the system and undermining that would be far worse than any benefit of confiscation.

[South Park]

I strongly believe that one of the reason investors are getting rid of gold is because it is more vulnerable to confiscation. The government, with the multi-trillion stimulus measures is fast running out of cash. The federal debt is ballooning. The only way for them to move forward is wealth confiscation. In Cyprus they targeted the savings bank accounts. But I have a feeling that this time it will be worse. The governments will start confiscating equities, bullion and real estate. They will implemented the tried and trusted method of stealing from the top 10%, to feed the remaining 90%. This may be one of the reasons why assets such as Bitcoin (that can be protected from confiscation) is rising, while physical assets such as gold and silver are going down.

This isn't true, the government literally can't run out of money because it creates the money supply. The way to move forward isn't wealth confiscation, it's either austerity to get the deficit under control, or monetizing the debt by having the Fed continue to buy treasury issues which increases the money supply. There will not be confiscation in the US, property law is too much ingrained into the system and undermining that would be far worse than any benefit of confiscation.

While I think that governments are going to print their currencies to oblivion we must always be on our guards, if things begin to go that badly for the economy every single measure is going to be over the table and as much as we believe that people are not going to allow a government to take confiscatory measures when people are desperate they are going to be fine with almost any proposal that governments make and if that includes losing part of their freedom and part of their wealth in order to restore order to the economy and society in general they could agree to it.

[MCobian]

It's a very good idea to take some profit from Bitcoin to buy Gold, because the current Bitcoin price is quite high to sell. Moreover, Gold is one of
the oldest assets which has proven to be very good for holding in the long term. Sometimes to make us richer, we do have to invest in more than
one asset. For now I invest not only in Bitcoin and Gold, but I also invested in Real estate which proved to be good for long term investment too.

[Mauser]

It's a very good idea to take some profit from Bitcoin to buy Gold, because the current Bitcoin price is quite high to sell. Moreover, Gold is one of
the oldest assets which has proven to be very good for holding in the long term. Sometimes to make us richer, we do have to invest in more than
one asset. For now I invest not only in Bitcoin and Gold, but I also invested in Real estate which proved to be good for long term investment too.

I am not sure about this because the gold price is also fairly high right now. I have been holding some gold index funds for a while now and think it might be better to take a profit in Gold rather than Bitcoin. If the corona pandemic is really over now than the stock market should be taking off again. I might switch my gold into stocks for now.

[jaberwock]

It's a very good idea to take some profit from Bitcoin to buy Gold, because the current Bitcoin price is quite high to sell. Moreover, Gold is one of the oldest assets which has proven to be very good for holding in the long term. Sometimes to make us richer, we do have to invest in more than one asset. For now I invest not only in Bitcoin and Gold, but I also invested in Real estate which proved to be good for long term investment too.

I am not sure about this because the gold price is also fairly high right now. I have been holding some gold index funds for a while now and think it might be better to take a profit in Gold rather than Bitcoin. If the corona pandemic is really over now than the stock market should be taking off again. I might switch my gold into stocks for now.

Gold versus Bitcoin will always result with bitcoin here, we are talking about bitcoin on bitcointalk what do you expect. I have never been fan of gold being this valuable as well, I get that it is used in some stuff and that is why it has a value but let’s be honest with each other, it is not like it is iron or something that is used everywhere and that is why it has a value, gold is more financial speculation asset and nothing more, there are more people gambling on gold prices everyday compared to number of people who buy it for real stuff, like rings or whatever.

That is why I think it is quite important to realize gold is not really as valuable as it is right now, if we remove all the traders and just let regular buyers who use it to buy it physically, we will have a much much lower price for gold. But in the long run it will go up slight bit every year so people still invest into it.