cydrix (OP)
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April 27, 2021, 05:13:03 PM |
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As I have search through the web I came across on this information that gold are being discovered up to date for over 244,000 metric tons and still counting look at this site.. https://www.usgs.gov/faqs/how-much-gold-has-been-found-world?qt-news_science_products=0#qt-news_science_products
So I am quite hesitant which will prevail in the distant future. Bitcoin on the other hand might survive any crisis since it harbours many investors around the globe and the demand on Bitcoin still punches through the roof.
If that kind gold is discovered why does the market still increase it's price over time. Correct me or add some information I'll gladly accept any suggestions where would I prioritize investing in the long run.
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Darker45
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April 28, 2021, 06:03:51 AM |
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I'd say it depends on how long is your long run. If you are thinking of 10 years or 20 years or 30 years from now, Bitcoin has got the advantage, or so I think. Gold's value is not appreciating as fast as Bitcoin's. But if you are thinking of a couple hundred years, it is probably gold that will outlast Bitcoin.
Gold's value remains at a level where it is still considered precious. That's all throughout humanity's recorded history. I could therefore say that in terms of dwindling value, gold is almost unaffected. Bitcoin, on the other hand, is also precious. No doubt about it. But we have to accept that it is technology-based, and we all know how fast developing technologies are.
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pooya87
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April 28, 2021, 06:22:11 AM |
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You can't compare bitcoin with gold because not only they are very different things but also they are in different eras. Gold has been around for centuries and the gold adoption (if we can call it that) happened about 2 centuries ago with Gold Rush. Bitcoin on the other hand was invented about 12 years ago (practically an infant in comparison) and it still hasn't been adopted even a little bit let alone reach mass adoption.
So what the future holds for bitcoin is only rise in long run until its mass adoption but same thing can not be said about gold.
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Obito
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April 28, 2021, 06:59:24 AM |
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Really depends, if bitcoin continues its increase in prices then bitcoin will continue to become more important, by dwindling it will be bitcoin since it has a limited amount compared to gold which is virtually infinite if we add all the gold in the universe.
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passwordnow
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April 28, 2021, 08:10:32 AM |
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No need to hesitate about both assets if you are thinking which will remain and become better in the long run. Both of them are the greatest assets that we have in our era. There is no doubt about gold, it's going to continue and there is already a huge market and belief on it that it is one of the best precious metals. While for bitcoin, it is the best cryptocurrency. If you can have both of it much better but to me, I'll focus with bitcoin. Tech stocks/assets these days are the thing.
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jrrsparkles
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May 06, 2021, 09:03:01 PM |
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Really depends, if bitcoin continues its increase in prices then bitcoin will continue to become more important, by dwindling it will be bitcoin since it has a limited amount compared to gold which is virtually infinite if we add all the gold in the universe.
Bitcoin increased upto 10 times in a year during the bull run period while Gold mostly had the stable price growth no matter of what is going on in the world so its not a comparable assets but still Bitcoin has the fastest growth rate compared to any other thing in the world.
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STT
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May 06, 2021, 11:07:22 PM |
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Contrast, the gold found has to be compared to the amount of people in the world and the usage trend for gold. Also no price is a singular thing, its a fraction in which the denominator is the currency so we must always consider the strength of dollar vs the price of the asset. Gold is always going to be more slowly discovered and mined then dollars are produced, clearly its incredibly easy to produce more dollars and there is barely any restraint in doing so. Gold is not produced on earth by any means but the real thing to consider is technology and energy usage has increased production so thats fair, supply is expanding and will continue to do so but that does not equate to a bearish price. This applies to almost every commodity but not BTC, supply will increase to satiate demand even after all this gold is bullish on a decade view.
All of this relates to cryto in that its not enough for BTC to be limited and so we are bullish, its far more complicated and varying and so to gold. Long term both BTC and gold are going to be far more limited then dollar availability but the real base measure for me is usage trend. Also finally I would say the population growth on earth creates demand for any useful product and is giving a greater division to any supply so no figure can be considered in isolation.
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Dave1
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May 07, 2021, 01:56:46 AM |
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If that is the case, then bitcoin is more scarce that gold as it has limited supply in the market. So chances are the price of bitcoin will go up in the future, while the price of gold might tank or also increases that much.
The thing with gold though, because its with us for centuries, it is battle tested, specially in wars. So far bitcoin hasn't seen the worst, but it did survived the covid-19 crisis so far.
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mk4
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May 07, 2021, 02:45:45 AM |
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I'm guessing it probably didn't affect prices that much because:
1. Gold being mined or "found" are to be expected already since pretty much forever 2. Gold's liquidity is just too high to be significantly affected
As for bitcoin surviving a crisis, I'm still having mixed feelings. While betting on bitcoin when it comes to crises makes total sense, let's not forget that a lot of people holding bitcoin are just here to "get rich quick". They might just sell off immediately when bigger economic problems come.
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philipma1957
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May 07, 2021, 02:55:44 AM |
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As I have search through the web I came across on this information that gold are being discovered up to date for over 244,000 metric tons and still counting look at this site.. https://www.usgs.gov/faqs/how-much-gold-has-been-found-world?qt-news_science_products=0#qt-news_science_products
So I am quite hesitant which will prevail in the distant future. Bitcoin on the other hand might survive any crisis since it harbours many investors around the globe and the demand on Bitcoin still punches through the roof.
If that kind gold is discovered why does the market still increase it's price over time. Correct me or add some information I'll gladly accept any suggestions where would I prioritize investing in the long run.
Well if asteroid mining works out gold will be as common as copper. And far better metal for power wires and or car batteries. It would drop in value to under 100 usd a pound. But who is to say that asteroid mining will work out. https://www.mining.com/nasa-finds-rare-metal-asteroid-worth-more-than-global-economyI simply won't make a guess to your question due to this asteroid find.
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Ararbermas
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May 07, 2021, 03:08:23 AM |
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When it comes which is more faster of course it would be bitcoin especially if we will base on long run position, unlike gold that has possibility to stuck the price for a long time and indeed it didn't pump the price a lot even we say it has potential to grow more constantly, "still not the same with bitcoin" wherein the demand and supply is getting higher day by day. So definitely no chance for it to win for long run in my personal opinion .. Because bitcoin will always win on the race.
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adaseb
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May 07, 2021, 04:08:47 AM |
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I'm guessing it probably didn't affect prices that much because:
1. Gold being mined or "found" are to be expected already since pretty much forever 2. Gold's liquidity is just too high to be significantly affected
As for bitcoin surviving a crisis, I'm still having mixed feelings. While betting on bitcoin when it comes to crises makes total sense, let's not forget that a lot of people holding bitcoin are just here to "get rich quick". They might just sell off immediately when bigger economic problems come.
Yes this is pretty much true. I got so many people around me talking about bitcoin, dogecoin, crypto this and crypto that. They basically got tons of money invested and are not selling until it hits some crazy number like $5/doge or $1Million/btc. However it can quickly shift and change when all of a sudden a bear markets starts and people start to panic. Everybody will want to get out at once and the liquidity might not be there and we can quickly go to the $30K or $20K or even lower. I don't see this happening with Gold. Its much more liquid and wouldn't have this issue. Gold would be more difficult to dump than BTC which is easy to sell with your exchange.
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mk4
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May 07, 2021, 04:57:57 AM |
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Yes this is pretty much true. I got so many people around me talking about bitcoin, dogecoin, crypto this and crypto that. They basically got tons of money invested and are not selling until it hits some crazy number like $5/doge or $1Million/btc.
However it can quickly shift and change when all of a sudden a bear markets starts and people start to panic. Everybody will want to get out at once and the liquidity might not be there and we can quickly go to the $30K or $20K or even lower.
I don't see this happening with Gold. Its much more liquid and wouldn't have this issue. Gold would be more difficult to dump than BTC which is easy to sell with your exchange.
Pretty much. Liquidity aside, we're still in the mostly-retail-investor stage when talking about bitcoin and cryptocurrencies; and as we all know, inexperienced retail investors are going to be far far more affected by emotions compared to institutional investors that pretty much have been investing for decades already.
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philipma1957
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May 07, 2021, 05:05:23 AM |
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I'm guessing it probably didn't affect prices that much because:
1. Gold being mined or "found" are to be expected already since pretty much forever 2. Gold's liquidity is just too high to be significantly affected
As for bitcoin surviving a crisis, I'm still having mixed feelings. While betting on bitcoin when it comes to crises makes total sense, let's not forget that a lot of people holding bitcoin are just here to "get rich quick". They might just sell off immediately when bigger economic problems come.
Yes this is pretty much true. I got so many people around me talking about bitcoin, dogecoin, crypto this and crypto that. They basically got tons of money invested and are not selling until it hits some crazy number like $5/doge or $1Million/btc. However it can quickly shift and change when all of a sudden a bear markets starts and people start to panic. Everybody will want to get out at once and the liquidity might not be there and we can quickly go to the $30K or $20K or even lower. I don't see this happening with Gold. Its much more liquid and wouldn't have this issue. Gold would be more difficult to dump than BTC which is easy to sell with your exchange. If there is a super crash it will not be BTC it will be DOGE I value it at 3-5 cents based on mining ease and difficulty. So sooner or later it needs to dump.
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mk4
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May 07, 2021, 05:21:26 AM |
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If there is a super crash it will not be BTC it will be DOGE
I value it at 3-5 cents based on mining ease and difficulty.
So sooner or later it needs to dump.
Mining difficulty and other metrics aside, DOGE has already been up like 20,000%+ in just a single year. A dump is pretty much almost guaranteed. The question is just 'when'. As for BTC, I don't see a crash being out of the realm of possibility. I think it's still really likely for us to get a 30-50% correction at some point.
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maxreish
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May 07, 2021, 07:09:38 AM |
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When it comes to volatility speed, as we can see bitcoin obviously moves up faster but then it can also move at the opposite in an instant depends on the whale movement, too. Comparing it in gold is most likely not appropriate as bitcoin is thrice volatile than gold. As for your question who dwindle fast? If it is for a short term basis of course we can see how fast bitcoin dwindle than gold but if we are referring to a long term basis, we can't actually say who it is as gold also dwindle as years goes by.
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slapper
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May 07, 2021, 09:08:37 AM |
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I will choose bitcoin over gold in the long run. I admit that gold has existed on this planet since dawn but now, it is the era of technology, cyber stuff, and digital currency as well as encrypted information. Therefore, investing in bitcoin will give you a higher return with the advantageous fundamental for the future.
Sooner or later, bitcoin will replace gold. Physical asset is losing its predilection. Gold price still increases, eventually but it is nothing compared with bitcoin. Moreover, gold has no practical usage except being luxury jewelry
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Lorence.xD
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May 07, 2021, 11:28:53 AM |
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To be honest, we don't know because we don't see the end of the the line for both commodities that are in question, gold has been a sought after since the dawn of humans while bitcoin is still relatively a youngling when compared to gold. I would say that both doesn't doesn't dwindle in value.
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ice098
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May 07, 2021, 03:13:06 PM |
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When it comes to volatility speed, as we can see bitcoin obviously moves up faster but then it can also move at the opposite in an instant depends on the whale movement, too. Comparing it in gold is most likely not appropriate as bitcoin is thrice volatile than gold. As for your question who dwindle fast? If it is for a short term basis of course we can see how fast bitcoin dwindle than gold but if we are referring to a long term basis, we can't actually say who it is as gold also dwindle as years goes by.
Well I guess the characteristics of the crypto market or the bitcoin market as being volatile has some advantages to think when compare to gold but really risky to consider. for me both bitcoin and gold are valuable and worth to invest for but if I am going to analyze between which one for me is good for short term and long term investment then I'll go with gold for a long term and bitcoin for a short and long term investment. Yep, I am classifying bitcoin as long term and short term but it was all based on how you dealt with your investment.
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dothebeats
Legendary
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Activity: 3752
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May 07, 2021, 08:59:55 PM |
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Gold will always be valuable no matter what. It may decline in valuation equivalent to fiat in the long run, but it will always be useful for something, especially technology. It might fail as an asset but it will never fail as a raw material, which will surely retain its value even as times pass. Bitcoin will be the king in price appreciation over time, true, but gold will always find its place in the asset market that's for sure.
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