avikz
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August 11, 2021, 12:06:23 PM Merited by kryptqnick (1) |
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I don't see a problem in picking up gold though. You need to understand one things first. Gold is not an investment! It is being used since ages for capital protection. Gold has other uses as well but let's just talk about its main use and that is capital protection. Also gold is extremely liquid which you can sell it at any point of time if you are in need of money. So there no way traditional people will choose bitcoin over gold. Because they prefer peace of mind.
In the other hand, bitcoin is for the aggressive investors who are willing to take risk in the market and also have a good amount of time in hand. That's why mostly millenials use bitcoin for investment. They can take risk and have longer period for investment.
So you see, not all investments are made for profit only! There are different goals for different types of investment. Let's just stop comparing cryptos with gold. It doesn't make sense!
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skybot13x
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August 11, 2021, 12:22:50 PM |
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I don't see a problem in picking up gold though. You need to understand one things first. Gold is not an investment! It is being used since ages for capital protection. Gold has other uses as well but let's just talk about its main use and that is capital protection. Also gold is extremely liquid which you can sell it at any point of time if you are in need of money. So there no way traditional people will choose bitcoin over gold. Because they prefer peace of mind.
In the other hand, bitcoin is for the aggressive investors who are willing to take risk in the market and also have a good amount of time in hand. That's why mostly millenials use bitcoin for investment. They can take risk and have longer period for investment.
So you see, not all investments are made for profit only! There are different goals for different types of investment. Let's just stop comparing cryptos with gold. It doesn't make sense!
But in terms of liquidation speed, availability, divisibility and mobility gold has zero chance to compete with Bitcoin. If you hold physical gold in your basement, you are by far inferiorly situated in terms of the aforementioned characteristics compared to holding Bitcoin. Now you could argue that nobody holds physical gold, but that is where the analogy of not your keys not your Bitcoin comes into play, and that would be not your physical gold not your gold.
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aoluain
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August 11, 2021, 12:37:03 PM |
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I don't see a problem in picking up gold though. You need to understand one things first. Gold is not an investment! It is being used since ages for capital protection. Gold has other uses as well but let's just talk about its main use and that is capital protection. Also gold is extremely liquid which you can sell it at any point of time if you are in need of money. So there no way traditional people will choose bitcoin over gold. Because they prefer peace of mind.
In the other hand, bitcoin is for the aggressive investors who are willing to take risk in the market and also have a good amount of time in hand. That's why mostly millenials use bitcoin for investment. They can take risk and have longer period for investment.
So you see, not all investments are made for profit only! There are different goals for different types of investment. Let's just stop comparing cryptos with gold. It doesn't make sense!
But in terms of liquidation speed, availability, divisibility and mobility gold has zero chance to compete with Bitcoin. If you hold physical gold in your basement, you are by far inferiorly situated in terms of the aforementioned characteristics compared to holding Bitcoin. Now you could argue that nobody holds physical gold, but that is where the analogy of not your keys not your Bitcoin comes into play, and that would be not your physical gold not your gold. The only comparison now between Gold and Bitcoin is how they are at different ends of a spectrum. One is old school and has its decorative, technology and medical uses and is antiquated in terms of investment, the other is a game changer in finance, investment and technology. In terms of individual personal aquisition they dont compare well, anyone can own and hold Bitcoin, where do I buy $45,000 of Gold, How do I store it and where can I spend it?
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Freezingel
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August 11, 2021, 01:53:45 PM |
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Maybe people are saying that because they're more familiar with gold rather than bitcoin, and moreover, gold is a tangible thing, meanwhile bitcoin is not. People might feel more safe if they have the thing in their hand, like investing in gold, they can see and have the real gold in them, but with bitcoin, they don't have the shape, only knowing that it exists. Gold also had become the choice of investment for years, and we can't deny it's quite profitable sometimes, although not as great as bitcoin. But yeah, people tend to play safer so they think gold is better than bitcoin, though it might necessarily be true.
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cotton ball
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August 11, 2021, 02:08:39 PM |
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do you still have thoughts of choosing gold over bitcoin,, in my opinion, i will choose both, because i know both have advantages and disadvantages of each, i still buy gold for my savings, because the risk of gold is low, and its profits even low, but I will buy bitcoin for my asset, even though the bitcoin price is falling now, but I will always be patient, to wait for the right time, to sell my bitcoin, to be able to profit in the future..
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kryptqnick
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August 11, 2021, 02:30:31 PM |
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If we look at gold and Bitcoin price charts, it seems that gold is a good store of value. If you have wealth, and you simply want to keep it that way, gold is a good option because it normally doesn't crash (like the stock market can) and doesn't devaluate (like fiat does). After years, you end up with roughly the same amount of wealth, give or take. As for Bitcoin, you might end up with way more than you used to have (2x-5x more), but if the timing isn't right, your wealth can also decrease by 50%-80% easily. So Bitcoin's for investments, gold's for keeping what you already possess IMO.
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pawanjain
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August 11, 2021, 03:33:55 PM |
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Of course bitcoin is a better investment option than Gold due to it's high returns but at the same time it's good to have a diversified portfolio. I have learnt from this forum that we should never put all our eggs in the same basket. While investing in bitcoin for long term will give huge returns, I think we can invest a little portion into Gold as well to diversify the portfolio.
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bosede1
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August 11, 2021, 03:36:41 PM |
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I am not really into gold and I never felt like owing one because I don't really dabble into whatsoever investment I don't have a take on, so for now, I can't pick gold over bitcoin very glaring decision.
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Fesatmas
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August 11, 2021, 04:07:36 PM |
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Guess there's nothing left to be proven again for bitcoin and it's safe to say it has outperformed Gold in all angles. I would prefer my investment in an asset that could give me higher double digits gains than an asset that can barely gives strong double digits gains and yet been called the safe heaven when it also poses same risk of a lost in value during trying times.
Both are good, but if I personally had to choose, then Bitcoin would be the choice. As most people say gold is only a store of fixed value to avoid a time if the fiat owned is hit by big inflation. Of course, the higher the risk, the higher the profit if the price continues to increase, and vice versa with the risk of loss. But what people out there who think Bitcoin's risk is bad don't realize that Bitcoin won't fall into the bottom hole. While the issue that circulates and is dismissed by influencers who don't like Bitcoin is that it often says destruction.
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geegaw
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August 11, 2021, 04:13:50 PM |
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Of course bitcoin is a better investment option than Gold due to it's high returns but at the same time it's good to have a diversified portfolio. I have learnt from this forum that we should never put all our eggs in the same basket. While investing in bitcoin for long term will give huge returns, I think we can invest a little portion into Gold as well to diversify the portfolio.
In bitcoin, we can also find things that can be diversified, I mean altcoins, they can be called different affiliates of bitcoin and each place will have a customer base with different needs, a precise location will help bring more profit because a new regional roadmap is easier to develop than an old one with quite a lot of saturation points like bitcoin. Diversification for gold is also possible but it is a different market and influenced by many different cultures from different countries and sectors, exploiting the route with them will take a lot of time
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Alert31
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August 11, 2021, 05:03:04 PM |
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Both gold and bitcoin are valuable but there are different advantage and disadvantages. Even if you invest in bitcoin, I think you also keep some gold in your house or wore in your body such jewelries, wristwatch, ect... Mostly old aged people are give more significance in gold but the new generation would prefer bitcoin over gold. Also people who don't know yet about bitcoin will surely invest invest in gold as a tangible asset but like us who knows bitcoin and how it works would love bitcoin because it can give us huge return even in a short period of time although it was very risky and volatile.
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avikz
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August 11, 2021, 05:30:11 PM |
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I don't see a problem in picking up gold though. You need to understand one things first. Gold is not an investment! It is being used since ages for capital protection. Gold has other uses as well but let's just talk about its main use and that is capital protection. Also gold is extremely liquid which you can sell it at any point of time if you are in need of money. So there no way traditional people will choose bitcoin over gold. Because they prefer peace of mind.
In the other hand, bitcoin is for the aggressive investors who are willing to take risk in the market and also have a good amount of time in hand. That's why mostly millenials use bitcoin for investment. They can take risk and have longer period for investment.
So you see, not all investments are made for profit only! There are different goals for different types of investment. Let's just stop comparing cryptos with gold. It doesn't make sense!
But in terms of liquidation speed, availability, divisibility and mobility gold has zero chance to compete with Bitcoin. If you hold physical gold in your basement, you are by far inferiorly situated in terms of the aforementioned characteristics compared to holding Bitcoin. Now you could argue that nobody holds physical gold, but that is where the analogy of not your keys not your Bitcoin comes into play, and that would be not your physical gold not your gold. There is no comparison itself. That's what I am trying to say here! Usage of Gold - capital protection, making ornaments etc. Usage of bitcoin - Currency, Investment Where are finding similarities? Bitcoin has given us excellent returns over the last few years. I am one of those people who were benefitted from bitcoin. But bitcoin and gold are not same! They shouldn't be compared at the first place!
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Maidak
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August 11, 2021, 05:53:13 PM |
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It's quite surprising how people still consider gold a more profitable investment than Bitcoin.
Gold is not more profitable, but, at least in theory, it's safer since the daily price fluctuation is rather small. Also, while we are now in the middle of bull run, clearly gold cannot match investments in bitcoin.. but the history tells that bitcoin bull run doesn't last forever. When the fiesta ends (temporarily) and price will go down, then gold can become a good place for storing wealth until a new bull run will start. Does it seem gold is working as a stable coin? cause when bull runs end normally we cryptocurrency holders convert our holdings into a stable coin, more likely USDT/BUSD/USDC. If so then why do we need gold rather we can use any stable coin or fiat money cause that's are less fluctuated than Gold. The popularity of gold is caused for 10T market cap, that's doesn't matter, Bitcoin can surpass those market caps in a blink of an eye. Just stop people to spread out FUD.
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NeuroticFish
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August 11, 2021, 08:08:07 PM |
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Does it seem gold is working as a stable coin? cause when bull runs end normally we cryptocurrency holders convert our holdings into a stable coin, more likely USDT/BUSD/USDC. If so then why do we need gold rather we can use any stable coin or fiat money cause that's are less fluctuated than Gold.
Gold is better than the stable coins you've mentioned. Imho gold can be considered more stable than fiat and the stable coins, since fiat and the fiat-pegged stable coins are hit by inflation. So it's usually not the gold rising, it's the fiat falling, but the chart is no different.
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tanjiran
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August 11, 2021, 08:16:57 PM |
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actually comparing crypto to physical assets is very useless. no matter how profitable a crypto coin is, there will always be a risk of dumping, missing, not being recognized, wallet hacking, etc. if you don't have the readiness to face that risk, it will be very risky, whatever crypto coins you hold. while gold, has been legally recognized, exists in physical form, and is official. not wise to compare the two, each has advantages and disadvantages, I always remind that the risk in crypto is greater.
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Welsh
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August 11, 2021, 08:34:10 PM |
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I can understand why people would invest in gold. Lets be honest here; Bitcoin is a young currency, and has a extremely volatile market, which is certainly not for the faint of heart. Gold has been used for decades upon decades as a store of value, and that reinforces the belief that its a safe investment, while Bitcoin starts the alarm bells ringing because its relatively young compared to any currency out there. Obviously, Bitcoin has some obvious benefits to investing into it, and that's not solely based on the fact that it has the potential to exponentially increase in price. actually comparing crypto to physical assets is very useless. no matter how profitable a crypto coin is, there will always be a risk of dumping, missing, not being recognized, wallet hacking, etc. if you don't have the readiness to face that risk, it will be very risky, whatever crypto coins you hold. while gold, has been legally recognized, exists in physical form, and is official. not wise to compare the two, each has advantages and disadvantages, I always remind that the risk in crypto is greater.
You largely have the same problems with any asset, including physical assets. Physical assets can be stolen, misplaced, and are subject to the potential of becoming less valuable. Gold is probably one of the best assets out there, but it isn't invulnerable from dropping in value. I think we'll see Gold drop more, and more once cryptocurrencies, in particular Bitcoin becomes more adopted by the general public. The world is moving to a digital world after all, in almost all aspects.
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DarkDays
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August 11, 2021, 10:33:08 PM |
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It's quite surprising how people still consider gold a more profitable investment than Bitcoin. Guess they're not familiar with the saying, 'the higher the risk, the greater the reward'. Although this doesn't mean you should go taking uncalculated risk as that'll be a deadly move that could cost you all your funds. Bitcoin has shown time without number that it's the better investment vehicle than Gold and it just did it again Just came across this article and think it'll be best I shared it here for the doubters still hoping for their previous metal to recover while they keep on missing out on the chance to partake in one of life greatest innovation. Guess there's nothing left to be proven again for bitcoin and it's safe to say it has outperformed Gold in all angles. No matter what source you look at the outcome is always the same - Bitcoin getting their investors more return than any other type of rare metal or commodity (see table below) source here. Table 1: Price Comparison: Bitcoin, Ethereum, Gold, US Equities, Long-dated US Treasuries, US Dollar (% Change)The fact that people who say that BTC is not a profitable long-term investment are those who clearly don't know much about investing to begin with as any numerically inclined person would look at the data and see that crypto is providing opportunities beyond traditional markets. Yes, the risk is equally measured but you can at least invest based on your risk level.
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Dread Pirate Roberts
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August 11, 2021, 10:40:05 PM |
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It's quite surprising how people still consider gold a more profitable investment than Bitcoin. Guess they're not familiar with the saying, 'the higher the risk, the greater the reward'. Although this doesn't mean you should go taking uncalculated risk as that'll be a deadly move that could cost you all your funds. Bitcoin has shown time without number that it's the better investment vehicle than Gold and it just did it again
Bitcoin has repeatedly shown itself as an investment asset and a digital commodity that is far better than gold. but i believe there is many people are know this but also still closing themselves to crypto and bitcoin, and missed many opportunity . and the same thing will happen again in the future.
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lalabotax
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August 11, 2021, 10:45:00 PM |
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Actually, both Gold and Bitcoin are my favorite investment. When I have money and I can manage the two, why not? I will not pick only one of them but both. For, Bitcoin is a very worthy investment with its high surprise every several years later. And gold is also a worthy investment, this is also safer than Bitcoin. Well, if we can take advantages of both gold and Bitcoin, it is no matter for me, not to compare each of them, but only by holding them in investment
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macson
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August 11, 2021, 11:35:11 PM |
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snip
many people still have no knowledge about investing, on average it happens because they don't want to accept new things. Bitcoin is much more profitable than gold even though the price is volatile. gold is an investment for people who have a safe mind and old man, while Bitcoin is a promising investment that many people who have great minds buy.
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