How Bitcoin differs from gold

[Abiky]

Gold is also traded on the spot market, you just don't have that physical gold though it's much like a representation that you have something of gold not different from digital assets. I believe we all would likely want the physical gold just as we want BTC on our own wallets installed on our devices.

If you have physical gold, however, probably half a million worth of it you will have a hard time hiding it while walking unnoticed beside the street. That's a big difference when you just have BTC.

Exactly. Bitcoin is portable, while Gold is not. You can store Bitcoin in the smallest place you can imagine. But that's not the case with Gold. In some sense, this makes Bitcoin better than Gold. Anyone can carry Bitcoins anywhere in the world without getting noticed (sort of). Everybody knows how much Bitcoin exists in the world (which is 21 million), but the same cannot be said about Gold. The pioneer cryptocurrency brings the best of both worlds by combining the scarcity of Gold and the versatility of traditional currencies. You can use Bitcoin as a currency or as a store of value for long-term wealth preservation. It may not be perfect, but it's striving to get there. Both Gold and Bitcoin will have their own supporters and haters. Neither will replace the other because they're completely different asset types. I'm fine with that as long as people have an escape route from the current monetary system. Just my opinion

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[yhiaali3]

There is a great similarity between Bitcoin and gold, although there are also big differences, but in my opinion, Bitcoin beats gold:
1 - Ease of dealing with it and sending it to anywhere in the world across the border in a short period of time, while this is not possible for gold.
2 - The ease of protecting bitcoin through a wallet and a private key only, while protecting gold requires highly guarded banks and costs a lot of money and equipment.
While gold beats bitcoin by:
1- A brilliant material asset that has great confidence in all people and does not lose its value over time, but rather maintains its value permanently.
2 - Bitcoin needs the presence of electricity and the Internet, while gold stands on its own and does not need the presence of anything else, so in the event of an emergency that leads to the stopping of electricity and the Internet, Bitcoin loses its value, while gold cannot lose its value in any way.

[Ucy]

I guess by stable you mean the price fluctuation isn't extreme. But I wonder what you mean by "it's regulated by government". What part of gold is regulated exactly, is it the price, supply, how it's mine, etc? Bitcoin regulation is code based and that somewhat affects the price too. A kind of regulation that keeps price fluctuation moderate without compromising on its deflation should be decentralized.

 What exactly is centralized about Gold? You mean how modern humans have hoarded and centralized it, or is it about supply and mining regulations? How does centralizing our collective resources sound to you, fair? If it was suppose to be centralized, our CREATOR would have created it centralized. By the way, Our natural resources are naturally decentralized and artificially centralized. It's more like saying water is centralized because of artificial water reservoirs... Or seas, rivers that humans claim to control/own.
 You can mine, sell and hold gold depending on where you live. Maybe it's centralized in the part of your world. I know of places where you mine natural resources freely.

There are things that have already been taken care of by Bitcoin, like supply regulation. Other regulations should be handled in similar manner. Centralized government regulations will only ruin it.

[ajqjjj]

Gold is just an asset, Bitcoin is a currency and yes it is accumulated as much as it can be and stored as an asset hoping it will certainly yield huge profits than gold. If govts accept Bitcoin as an asset and allow it to use everywhere then yes, number of gold investors might focus on Bitcoin.

Speaking from a vast perspective, gold market and crypto market are manipulated simultaneously so that each receive investment equally at one or the other point. We need to look at it very closely.

[perfect999]

With the little summary from my perspective what I see as difference between gold and Bitcoin.
Firstly gold is a physical commodity asset While Bitcoin is a digital currency/asset and with this, they are the two major assets on the economy trend on investment and with the highest bids on commodity price.

Gold is stable and regulated by government while Bitcoin is volatile and not regulated by government.

Gold requires hard human and physical labour to be acquired while Bitcoin required high computer skills and operations even though they both have the term "mining" as to how they got generated.

Gold is centralized while Bitcoin is decentralized.

Gold has been in existence before ages while Bitcoin got into existence 2009
Relevant opinions are welcome,

For me I believe that Bitcoin and gold are two different things, although they might have a little things in common. But if we’re to be looking at it that way, then there are lots of commodity or assets and has same features such as gold. So if we’re to start looking at it that way, then all of them would have been called gold as well. For media different and should be called whatever they’re named. I don’t see Bitcoin as a digital gold, I see it simply  as Bitcoin. They’re both totally different from each other, gold is physical and is mind from earth, why Bitcoin is digital and is mind using the Internet.

[GeorgeJohn]

Both of them are slightly differs because cryptocurrency is made of subbranch of bitcoin and it's obviously called a digital currency, the values of bitcoin can't be use to compare to the value of gold currently, irrespective that Gold come into existence before a massive adoption of crypto and more especially bitcoin, i think the liquidity of bitcoin is approximately times ten more than gold, so it's quite understandable from the bases of bitcoin and gold in different domain.

[Trouvaille]

1.Bitcoin has both the attributes of assets and currency, but gold is just an asset.
2.The number of bitcoins is fixed and limited, and will not increase mining at will, and has the property of fighting inflation.
3.Bitcoin can be divided, and it is traded and stored on the Internet, which is easy to carry and transfer transactions around the world. Gold is not easy to divide, it is also easy to wear while carrying, the transaction speed is slow and it is not easy to transfer.
4.Gold is regulated by the government. The decentralization of bitcoin is not regulated by any government agency, and the assets are free and fully controlled by themselves.

[LUCKMCFLY]

Naturally, Bitcoin and gold differ primarily by their history, the history that Gold has for centuries is remarkable, BTC began since 2009, which has gone through a series of events where many have called it Bubble, but Due to the high volatility, BTC tends to have and fulfill its market phases much faster than gold, that is, its accumulation stage, uptrend, Distribution stage and downtrend to enter the cycle again, it usually occurs in little time, of course gold is much more stable and is considered one of the assets that can carry out the worst of all crises in a nation, I think that the main difference between BTC and Gold lies in its history and trust.

[Reid]

Gold has been in existence before ages while Bitcoin got into existence 2009

I have been in existence before you so does that mean you have to die because I am older and more experienced?
Friendster and MySpace was the thing before as social media outlet now it's Facebook and Twitter.
What does it all mean?
Something new will be discovered but it doesn't mean we should forget our traditional way of keeping assets. We can support them both but one of them will always have the upper hand. Each investor will have to make their own choice of what they prefer. No one is forcing.
My wife prefers keeping gold accessories while I am into Bitcoin. We never had a problem about it.

[EewardDean]

Gold is the same as Bitcoin. Both are investment products with investment and collection value. There are similarities and differences. Gold has been around for a long time, and its value is stable. It is suitable for investors who do not want too much risk. Investment, in the age when virtual networks are developed, many people are still afraid of being deceived in virtual networks. Gold is a real thing, which may be even more convincing. But how to choose depends on your own ideas. Each asset has its own benefits.

[MIldic1c]

What makes Bitcoin more attractive than gold is that Bitcoin is unique. Decentralization is not regulated. This is different from gold. The characteristics of the two assets are different. Relatively speaking, Bitcoin is more risky. For example, some traditional investors may not believe in virtual currencies, so each has its own characteristics. If you want to obtain greater profits, you have to bear year-on-year risks. Small-risk investments also have less returns.

[Maeve@]

The difference between Bitcoin and gold is very obvious. The total amount of Bitcoin is 2,100w, and the total amount of gold will always be discovered and increased. When the number of gold mined becomes more and more, it will affect the price of gold. The trend has an impact. When Bitcoin is mined, the price is not affected too much! What is certain is that more and more gold investors have begun to switch to investing in Bitcoin, which also has a great relationship with the total amount and mechanism of Bitcoin!

[Subbir]

Bitcoin is decentralized but the worth of gold is under the control of the govt but within the case of bitcoin there's no such control bitcoin is priced supported the market is different during this respect. Bitcoin investment has seen its price rise since its inception the quantity of bitcoin is far above gold the quantity of bitcoin is that the most if you differentiate between them while many don't think it's safe to take a position in gold, they are doing consider bitcoin to be a secure haven.

[bitgolden]

I have been in existence before you so does that mean you have to die because I am older and more experienced?
Friendster and MySpace was the thing before as social media outlet now it's Facebook and Twitter.
What does it all mean?
Something new will be discovered but it doesn't mean we should forget our traditional way of keeping assets. We can support them both but one of them will always have the upper hand. Each investor will have to make their own choice of what they prefer. No one is forcing.
My wife prefers keeping gold accessories while I am into Bitcoin. We never had a problem about it.

Depends on the situation. Gold has been around, not myspace around, myspace was around for a little while and got lower, whereas gold has been around thousands of years and not slowing down any moment soon neither. This is why there is a good difference the two of them. Sure just because gold has been around doesn't mean that gold will always be higher valued than bitcoin, that is not the case because it may change at any moment. However that also doesn't mean that gold will be like myspace and all forgotten neither.

I believe that the best case here would be gold keep getting more and more popular, more and more expensive and the marketcap of gold will be huge BUT bitcoin and crypto will be even bigger because it will increase even bigger. In a world where in 50 years where gold made x10 profit but bitcoin went and did x100+ and passed gold would make the most sense.

[Barinekapaul]

Both bitcoin and Gold are valuable assets.
To me I will say, the only difference between both is the monetary value.

[perfect999]

Both bitcoin and Gold are valuable assets.
To me I will say, the only difference between both is the monetary value.

The biggest difference is the currency part for sure. Not many people are using it for that reason but the reality is that we are talking about something that is rare in both investment and spending. Look at what people invest into these days, its gold, stocks, oil, real estate, forex and so more, what does bitcoin have that is different in those? Well, I do not do a job and given real estate for it (or at least not common) and I do not do a job and given stocks (usually) or oil neither. However if you do a job and get bitcoin in return that uses the currency part of it and I believe that is a very important factor on why it is differs from all other investments.

[Ridi]

Bitcoin is a virtual currency that exists only digitally and can be purchased only online whereas gold is a physical assests that you can touch and hold. The difference between is currency part . Bitcoin is more volatile as compared with gold. Bitcoin is referred to as a gold. Both have their own importance on their own.

[Zanab247]

Delete after 24 hours

[Zanab247]

Bitcoin is a decentralized currency anyone can use to invest and make a good profit .  Inflation and deflation of bitcoin is not control by the government like the way government control gold in the country. Bitcoin is an online business where you can buy bitcoins and hold for the  market to increase before you can release them for sale. Gold investment use to take many years before investors can achieve something good from their business.
Gold is very slow in profit making compared to bitcoin that you can invest today and make a good profit tomorrow. During the pandemic gold and other fiat money lose value for the lockdown that took place one year and some month. Bitcoin price keep increasing at the process of pandemic where gold and other fiat money keep decreasing that is causing some investors to change their mind to starting investing with bitcoins.

[iv4n]

Gold is just a precious metal, more or less valuable than some other precious metals! Of course, people use gold (and other precious metals) in industry, and for making jewelry. Nice arguments for the price rise over time, even in the far future there will be a need for gold, for this or that!
But Bitcoin is like the ideology, of a decentralized economy... Decentralization is not a new term, but with Bitcoin and all those decentralized crypto projects, decentralization is possible! Unlike gold, crypto is available for everyone! Everyone can join and be part of creating a new and better world!
It's how I see a difference between gold and crypto in general, the difference is in what they represent!