'Gold in the Hand', versus 'Chinese Bitcoin' in the Bush - Which has REAL Value?

[arcmetal]

What asset is better?


Physical GOLD in your hand has never gone to Zero.

I wouldn't put too much faith in gold, it'll probably be worthless very soon.  It may be a shiny metal, but there are other metals that are far more useful, like: copper, aluminum, iron, tin, nickel, magnesium, tungsten, among others.

Gold can easily be dissolved (yet another way it can go to zero) by red fuming nitric acid, aka Aqua regia.  This cannot be done to a bitcoin.  It is not currently possible to dissolve a bitcoin with any known acid, this alone gives it greater value.

The uselessness of gold has become more apparent as the knowledge and usefulness of bitcoin has spread. Moving forward this will continue as bitcoin's penetration increases.

[Wind_FURY]

That doesn’t change the fact that Bitcoin is very useful as a hedge, and self-sovereign, censorship-resistant cryptocurrency, that’s issued outside of the control of a State.

Let's see Hedge? Worked Summer of 2020 until two weeks ago, since two weeks ago you would have lost your arse. ( If U want a hedge going forward in crypto DOGE or ETH will do better )

You think too much of “what is currently the better investment”. Wrong path.

Self-Soveriegn my ass, owned by the CCP (chinese-gov), all Mining is in CHINA, all MINING HW is in China, U think CCP is sovereign?

What can they do to the network? It’s the full nodes that give demand to what they produce. Blocks. The nodes demand that miners follow the consensus rules, or be rejected.

Censorship? Resistant BTC gets $2B a year stolen exchange theft & social-engineering, its the biggest ripoff for criminals in the world right now ( people come to BTC to get rich, not really sure what your getting to here, but if you want to spend the 'fees' you can post a string of characters in the blockchain, they charge by bytes; its not censored if this is what you mean? I doubt it. )

How did the government censor those “bad transactions”. No one can censor Bitcoin, it’s censorship-resistant.

Snip

[tbterryboy]

What do you mean by virtualizing of gold? Y’all should stop with all these confusion, gold remains what it is , it can’t be virtualized, but you can still invest in online and own a share of it from companies that have real gold bars (unless that’s the virtualizing of gold that you’re talking about, whereby companies dig or buy physical gold bars, and then let people own a percentage share of their storage of gold’s by investing, since people can’t go around with physical gold bars). So, I am guessing that’s what it is, because it is not changing from that.

Next thing I would like to add is that you all should stop looking for replacement, because none of these two things that you have mentioned here is going to replace the other, they are both going to still be around, just make your choice on what you like and stop trash-talking the other ffs.

[MCDev]

Bitcoin is like the gold of the crypto market, but it will not replace physical gold.
Even if the price of bitcoin surpasses gold many times, it will not replace gold, perhaps the two will develop and play different roles.

[willoweb]

If we think about what gold is, we will quickly understand that it is a fairly universal means of payment for its time. Once upon a time, when the gold standard was in effect and the dollar could be exchanged at a fixed rate for gold, there were clear rules of the game. But when he was untied from this rule, the world slowly began to plunge into chaos. Now the era of bitcoin has come. Gold is completely uncompetitive in this case and it makes no sense to compare them.

[acdc]

No asset is going to REPLACE another asset.Physical gold and Bitcoin will continue to exist for years.

I agree, gold and bitcoin will coexist and play different roles.
In the future, if bitcoin continues to be seen by everyone as a place to invest with high profits and risks, gold is a place to store assets with a low level of risk.

[btc-room101]

No asset is going to REPLACE another asset.Physical gold and Bitcoin will continue to exist for years.

I agree, gold and bitcoin will coexist and play different roles.
In the future, if bitcoin continues to be seen by everyone as a place to invest with high profits and risks, gold is a place to store assets with a low level of risk.

The tangible will exist, the bitcoin derived from a 20 year old NSA crypto called SHA256 has a limited shelf-life before hacked;  Within the next 5 years BTC will be kaput.

[ropyu1978]

It can be said that gold and bitcoin will always coexist, if we save gold it is certain that the risks we face are light, even though we store gold for a long time, but the profits we get will not be high, in contrast to bitcoin, bitcoin does have a high risk. high, but if we store it for a long time, it is likely that the selling value will be high. The risk is high, the profit we get is also high.

[Habskyy123]

I completely agree. In addition, I still have absolutely no confidence in any Chinese projects. It seems that there are interesting ones, but the courage to work with them is not enough.

[20kevin20]

The tangible will exist, the bitcoin derived from a 20 year old NSA crypto called SHA256 has a limited shelf-life before hacked;  Within the next 5 years BTC will be kaput.

The Bitcoin as we know it.. maybe. Why would we ignore the fact that it's open source though? Solutions in the open-source world exist for almost anything, including this theory that you're trying to propagate. Even if Bitcoin as we know it ceases to exist, there will come another version of it that will not be defunct anymore.

If you hate on BTC that much, why even bother wasting your time here?

[TribalBob]

Physical gold and virtual gold (bitcoin) are different in terms of price too, where the price of bitcoin is more expensive than physical gold but the advantages of physical gold will continue to be worth even though it is as small as a grain of dust (likened to) but bitcoin if there is no community and everyone has tired of mining or something i think bitcoin will be worthless and just a memory
sorry if my opinion is wrong because this is my opinion i prefer physical gold

[NotFuzzyWarm]

...
I wouldn't put too much faith in gold, it'll probably be worthless very soon.  It may be a shiny metal, but there are other metals that are far more useful, like: copper, aluminum, iron, tin, nickel, magnesium, tungsten, among others.

Gold can easily be dissolved (yet another way it can go to zero) by red fuming nitric acid, aka Aqua regia.  This cannot be done to a bitcoin.  It is not currently possible to dissolve a bitcoin with any known acid, this alone gives it greater value.

So much sooo wrong here....
Gold is irreplaceable for interconnecting components with many many applications in electronic devices. If there were other more viable metals to be used in place of it manufacturers would NOT be using expensive gold.

Regarding "Gold can easily be dissolved", no, it cannot. To quote the Wikipedia article on it, "Gold is unaffected by most acids. It does not react with hydrofluoric, hydrochloric, hydrobromic, hydriodic, sulfuric, or nitric acid. It does react with selenic acid, and is dissolved by aqua regia, a 1:3 mixture of nitric acid and hydrochloric acid. Nitric acid oxidizes the metal to +3 ions, but only in minute amounts, typically undetectable in the pure acid because of the chemical equilibrium of the reaction".

The statement about

It is not currently possible to dissolve a bitcoin with any known acid

is utterly pointless given that Bitcoin is not a physical thing  

All that out of the way, personally I'll take Bitcoin as an asset over gold any day. Precious metals have their place as an investment medium but do not have the growth potential that crypto has.