Anybody here sell their Gold to buy Bitcoin?

[sulendra12]

I'm more into opposite side.

Having Bitcoin is really good and I already am having the benefits by just holding Bitcoin on my life. But I do feel like I need gold for my family as the backup money or "urgent" money incase something bad happen on Bitcoin. At least my money have been divided into 2 separate objects so I can manage it more carefully.

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[Xxmodded]

I'm more into opposite side.

Having Bitcoin is really good and I already am having the benefits by just holding Bitcoin on my life. But I do feel like I need gold for my family as the backup money or "urgent" money incase something bad happen on Bitcoin. At least my money have been divided into 2 separate objects so I can manage it more carefully.

If some one have know more with bitcoin brave and prefer hold bitcoin than gold, I know gold not stronger raise higher price bitcoin and see today bitcoin increase up more than $1,000. Maybe with gold never we see can up more than $1,000 just one day and only enough higher about 5$ is most higher, but still difficult how to make many people believe more worth invest using bitcoin than gold.

[sulendra12]

~snipped~

If some one have know more with bitcoin brave and prefer hold bitcoin than gold, I know gold not stronger raise higher price bitcoin

I'm not talking about the "price", I'm talking about how people treat gold as their backup money or secondary money. It's up to you to treat gold for whatever you want, but I'm feeling happy with how I treat gold as my secondary source of financial backup.

[peterpanda]

For gold, it is not profitable like bitcoin. If you think about bitcoin, price of bitcoin is increasing daily and it will grow more in future but gold isn't able to grow like bitcoin. I know some people who had already sold gold and other assets for investing on bitcoin. I hope, they will cut good profit from their investment.

[Xxmodded]

For gold, it is not profitable like bitcoin. If you think about bitcoin, price of bitcoin is increasing daily and it will grow more in future but gold isn't able to grow like bitcoin. I know some people who had already sold gold and other assets for investing on bitcoin. I hope, they will cut good profit from their investment.

This reason why I dislike investing on gold is not growing faster like bitcoin can raise higher price just one or two years, looking last year bitcoin still under $10,000 and now bitcoin success with all time higher above $61,000 and very fantastic if you hold and invest much money in bitcoin than gold, more faster profit earn by investing on bitcoin than you use your money hold in gold.

[proTECH77]

I also want to share a comparison of investment from Gold to Bitcoin by MicroStrategy.
Bitcoin really indeed outperformed gold since we all know how volatile Bitcoin is.
Gold for me now is already an old school, that's why a lot of people telling Bitcoin is the new gold, digital and new trend.

I agree with you, during the pandemic many gold investors made their final decision to join bitcoin investment because of the results they saw during the lockdown that took over 6 months in the country. Many investors are now seeing gold as slow and small profit making because of what they are enjoying in bitcoin investment.

[Ararbermas]

I'm more into opposite side.

Having Bitcoin is really good and I already am having the benefits by just holding Bitcoin on my life. But I do feel like I need gold for my family as the backup money or "urgent" money incase something bad happen on Bitcoin. At least my money have been divided into 2 separate objects so I can manage it more carefully.

well that's a good idea.. But the opportunity with bitcoin is bigger than gold...see the difference between this assets,   (the volatility and potential and the future) .. Seems all are favorable to bitcoin.. Even though let say investing in gold is safer than bitcoin.. Still not make sense as long as you're knowledgeable when it comes crypto currency. Wherein surely you will not gonna miss all the opportunity... All your time and effort are worth it rather than working with gold. Just saying..

[goldade]

I think the question you should ask is how much gold do you have? The thing is, just like bitcoin, gold is another great form of investment and you'd also be making money that way too.
Personally, if you would ask me, I'd say sell some and not all of your gold to invest in bitcoin. It's called diversifying your investment assets. I have not seen anyone who got rich by investing in just one investment option. They all diversify in different options. I think you should do just the same in order to make the most of the bitcoin and gold market.

[tygeade]

I'd say sell some and not all of your gold to invest in bitcoin. It's called diversifying your investment assets. I have not seen anyone who got rich by investing in just one investment option. They all diversify in different options. I think you should do just the same in order to make the most of the bitcoin and gold market.

Yeah, diversifying is highly recommended in order to cover all possible investment opportunities rather than sticking with one and missing all others. This way if you sell your gold for the reason of investing into bitcoins, then I guess you are doing a right step.

For most people, gold must be an one of prominent investment opportunity for decades to centuries as per their family heritage. Those people must think about diversifying their portfolio so that they could fasten their networth as bitcoin is known for higher returns in n short term whereas bitcoin is stable for years (if you skip the recent growth of gold due to pandemic). Moreover bitcoin is nothing but digital gold and you could feel safer even by holding bitcoins like how are doing with gold.

[The Sceptical Chymist]

Seems like Gold may be taken out by Bitcoin in a few short years.

Gold has already been taken out by bitcoin, though it's been a gradual process--and I'm talking about the increase in value over time for the past 10 years or so (since bitcoin was introduced).  Gold had an amazing run-up to the top in 2011, but ever since then it's been kind of stale.  And if you compare gold to bitcoin, it's way more than stale. 

But if you like your gold coins like you say you do, why not hold onto them?  Buying bitcoin when it's at its all-time high has led a lot of people to lose a lot of money in the past, so that might not be the smartest move right now.  Having said that, I do think bitcoin is going to go higher still, but that's just my unsupported opinion and I could be dead wrong. 

And if you need a safe haven for your money, gold is the way to go, not bitcoin--plus right now the state of the economy is shaky at best, and you might need that safety that gold provides rather than the volatility that bitcoin is notorious for.  But it's up to you; I fully understand the bitcoin fever that's been infecting everyone this year.  Good luck!

[oHnK]

Seems like Gold may be taken out by Bitcoin in a few short years.

Gold has already been taken out by bitcoin, though it's been a gradual process--and I'm talking about the increase in value over time for the past 10 years or so (since bitcoin was introduced).  Gold had an amazing run-up to the top in 2011, but ever since then it's been kind of stale.  And if you compare gold to bitcoin, it's way more than stale. 

Indeed, comparing the two is a tedious thing.  It only talks about options and how dare you take risks.  Because the most basic and never changing fact is high risk high return.  Gold is a good type of investment to secure assets with low risk of loss but the resulting returns are not as far as BTC and other cryptos.  If you dare to invest your money in crypto yesterday as much as 100 $, now your money can be 172 $ in just 24 hours.  Where is the rate of return that is up to 72% within 24 hours?  nothing but crypto.  But don't be surprised if your choice is wrong then your money can run out overnight.  these two assets are not to be compared but to have as your portfolio.

[molsewid]

For gold, it is not profitable like bitcoin. If you think about bitcoin, price of bitcoin is increasing daily and it will grow more in future but gold isn't able to grow like bitcoin. I know some people who had already sold gold and other assets for investing on bitcoin. I hope, they will cut good profit from their investment.

Well for me both has a value but only differ on the approach of how the value approaches higher or lower depend on the demand. And it so happened that bitcoin has a fast paced of increasing the value and now were dealing on a value of $63,000 but if i have a gold i will surely save it for future pusposes guess I believe that gold couldn't be worthless even in future. Though is much more valuable when it terms of price today compare to gold.

[AakZaki]

I also want to share a comparison of investment from Gold to Bitcoin by MicroStrategy.
Bitcoin really indeed outperformed gold since we all know how volatile Bitcoin is.
Gold for me now is already an old school, that's why a lot of people telling Bitcoin is the new gold, digital and new trend.

Bitcoin provides more advantages than holding gold. Even though the price of bitcoin is very volatile, but bitcoin has a lot of support that keeps the price going up.

The investment comparison clearly states that gold provides a small return but at a stable price and is a safe haven asset, while bitcoin provides multiple returns with high price fluctuations.

Bitcoin is indeed a new investment trend, many institutions and companies are starting to enter and invest in bitcoin.

[Ewox]

My thoughts would be for you to not sell your gold, it’s a great asset too you know. And since you were collecting golds, why wont’t you buy bitcoin and hodl them like the same thing you did to your gold. Hodl both, that’s what I did ever since I started with investing in Bitcoin.

[cyriljundos]

Hello Gang,
Long time investor/holder of Gold coins, new investor of Bitcoin.
I've been thinking about selling some Gold to buy Bitcoin.
I'm listening to the pros/cons of doing this and Bitcoin seems like the better asset to hold in the long run.

So..
Anyone else here convert their Gold to Bitcoin?
Kinda having a hard time parting ways with my coins.
There's something to be said about touching Gold coins.
They're heavier than you think..
They have a nice ringing tone to them when tapped.
Fun to look at.. older ones have a history to tell.

Maybe I'm alone in this feeling.. 14+ years of collecting coins is hard to let go, but ultimately I got into it to have an insurance in case
of economic collapse and security.. also to make a profit.
Seems like Gold may be taken out by Bitcoin in a few short years.

Thoughts?

gold is also a good investment, every year thee price goes up and in case of emergency you can directly sell your gold, on the otherhand bitcoin is digital coin and future of currencies is also better because you can earn by trading and investing. you can double up your money if you are good in trading . there are a lot of trader selling their gold to convert bitcoin and i must say its worth it.

[SquallLeonhart]

gold is also a good investment, every year thee price goes up and in case of emergency you can directly sell your gold, on the otherhand bitcoin is digital coin and future of currencies is also better because you can earn by trading and investing. you can double up your money if you are good in trading . there are a lot of trader selling their gold to convert bitcoin and i must say its worth it.

Not every year, gold's prices are going up but I agree gold is the easiest asset to liquidate hence holding it for emergency needs makes sense. But, if you look for good returns for your investments then bitcoin must be the right choice to go with. This is the reason why people are selling gold to buy bitcoins; they are simply switching into high ROI asset. But, honestly I am not selling gold to invest in bitcoin but at the same time I sold some bitcoins for buying gold for my family use and not for investment purposes. It means even gold suddenly rise 2x or 5x, I may not sell those gold because it is for jewelry purposes.

I recommend everyone to have both gold and bitcoin because diversifying will help time to time. For example, bitcoin may remain positive for one year and then for next 2 years it may stay negative and sideways. Hence holding both gold and bitcoin will help anyone if needs to liquidate suddenly.

[Saniati]

No but btc going to more valuable assets than gold. Btc now ranking 8 and gold 1 with marketcap $11.099 T and btc with $1.168 marketcap and btc going popular day by day and btc   will be no. 1 asset i believe.

[Rasel5209]

Hello Gang,
Long time investor/holder of Gold coins, new investor of Bitcoin.
I've been thinking about selling some Gold to buy Bitcoin.
I'm listening to the pros/cons of doing this and Bitcoin seems like the better asset to hold in the long run.

So..
Anyone else here convert their Gold to Bitcoin?
Kinda having a hard time parting ways with my coins.
There's something to be said about touching Gold coins.
They're heavier than you think..
They have a nice ringing tone to them when tapped.
Fun to look at.. older ones have a history to tell.

Maybe I'm alone in this feeling.. 14+ years of collecting coins is hard to let go, but ultimately I got into it to have an insurance in case
of economic collapse and security.. also to make a profit.
Seems like Gold may be taken out by Bitcoin in a few short years.

Thoughts?

No there i think convert gold to bitcoin. If you want to converted i suggest that first you sell your gold in local market then you buying bitcoin. Today invest is not safe cause bitcoin price is high. I suggest you thinking for this gold price can not dump huge but bitcoin price can be 100% dump in a day.

[darewaller]

btc going to more valuable assets than gold. Btc now ranking 8 and gold 1 with marketcap $11.099 T and btc with $1.168 marketcap and btc going popular day by day and btc   will be no. 1 asset i believe.

Yes, bitcoin market is slowly moving up and this is the reason many people are selling their gold to buy bitcoins. I am very much sure that in coming years bitcoin will be beating gold's marketcap as there are so many institutional funds are coming into bitcoin market compared to what they were doing with gold market for years. So, there will be no surprises on seeing people to be switching over from gold to bitcoin. This is a timely demand and people are obeying it.

[Smartvirus]

I've never thought of that neither do I have any good stock anywhere else, selling it to buy gold isn't a bad idea. With the way bitcoin  is growing,  I would have no problem selling gold to buy bitcoin. Bitcoin and gold are similar i  function and that is the store of value kind of but bitcoin assumes more responsibility than gold and with that responsibility comes value. So, having one commodity that keeps you stagnant at a price rate or level isn't the best of idea. So, if you've got gold and it ain't working for you, you could swap it for bitcoin and make it work for you. Now, bitcoin is where the value is and its what you should be aiming at for an investment.