How Bitcoin differs from gold

[Kittygalore]

Bitcoin is different by it's physical existence, it's intangible or incorporeal since it's an electronic product while gold is sort of tangible since they're on rocks that is mined and those rocks are tangible so that also extends to the gold that's sticking at that rock. Another difference is the movement, bitcoin is much more volatile than gold but that volatility meant that bitcoin is much more profitable than gold.

[globalpain]

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.

I think what you say is correct and that's the difference between Bitcoin and gold,
after all both are promising assets and there is no doubt,
indeed in cryptocurrencies, especially Bitcoin the risk is big but when we can manage it well it will be profitable

[jaberwock]

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.

That is both relevant to each other as well. Bitcoin is virtual but in today's world too many things are virtual, you can hold gold if you want to in your hands but you could also buy gold from your bank account, it would show you owning 10 ounces of gold without ever touching any gold at all, it is just paper, same with fiat as well, you have money digitally, it is in your bank and you can use your credit card instead of actual money and hold the cash in your hands.

Overall, I would say that it is obvious people are using stuff virtually. BUT the fact that crypto is purely digital means it could be used to transact money, buy stuff, sell stuff, work, pay and so forth and that is the biggest difference.

[Natalim]

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.

That is both relevant to each other as well. Bitcoin is virtual but in today's world too many things are virtual, you can hold gold if you want to in your hands but you could also buy gold from your bank account, it would show you owning 10 ounces of gold without ever touching any gold at all, it is just paper, same with fiat as well, you have money digitally, it is in your bank and you can use your credit card instead of actual money and hold the cash in your hands.

Overall, I would say that it is obvious people are using stuff virtually. BUT the fact that crypto is purely digital means it could be used to transact money, buy stuff, sell stuff, work, pay and so forth and that is the biggest difference.

Gold is just good for a pure investment and is definitely centralized. It has been here for decades so preferably, its the most stable investment that even old people have also their own. And its definitely a safe haven investment because its value will keep on increasing but not on a bigger basis.

Bitcoin is not just an investment because its end goal is to become a good currency. Although its not yet totally adopted these days but we can expect that if the world goes more digital, then using bitcoin as a digital currency will eventually be realized as most of the transactions nowadays are becoming virtual. And while gold is centralized, bitcoin is very much decentralized so it cannot be controlled by any entity. Bitcoin has becoming a gold investment in the years to come as its adoption is increasing, then its value will also become bigger too.

[imstillthebest]

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.

with the introduction of bitcoin atm's , its now possible to buy bitcoin offline .
your right tho , we can differentiate them easily because one is more of a currecncy and that was bitcoin while the other is more of an investment .
 bitcoin is bitcoin and gold is gold but what you mean is bitcoin is sometimes being called as a digital version of gold which can be true because btc can also do what a gold can do .

[Sir Legend]

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.

Both are popular types of investment, gold and bitcoin are 2 different types of investment and both are worth choosing, dividing the money between the two of course is an ideal choice, because the price of bitcoin is very volatile so I will make bitcoin an investment that is bigger than gold because greater profit opportunities.

[LUCKMCFLY]

~snip~

Currently the main difference between BTC and Gold is that Gold is mainly the most used and accepted asset worldwide to be able to have the power to get any nation out of crisis, or any world crisis, who has that power is gold, While BTC is not yet accepted worldwide, there are many who oppose the cryptocurrency, however now many call it digital gold, the growth it has had is remarkable, in fact not only El Salvador has adopted it, many countries are considering adopting it, we may have some nice news about its adoption this year. I think that the biggest difference of all is due to its history, and another difference is that the acceptance by Banks and Governments is towards Gold, but it is an issue that has to do with volatility.

[jaysabi]

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,

There's a lot wrong with just this opening bit.  First, gold is not regulated by the government.  You can buy and sell gold without permission from the government, so I'm not sure what you're trying to say here.  Mining generally is regulated by certain states, but that's all mining and has nothing to do with gold specifically.

Second, gold is not centralized.  There's is no central authority for gold.  Again, not sure what you're trying to say.

Also, gold being "stable" is also a bit of stretch.  In the short term, gold is much more volatile than the USD.  The shorter the time horizon, the greater the difference between gold and the dollar.  The longer you zoom out the more accurate gold's stability might get, but gold is a pretty volatile in the short term.

There's not particular "skill" needed for bitcoin mining, it's incredibly simple.  You buy hardware, you point it at the blockchain, you churn computations.  What bitcoin mining requires is a lot of capital investment to mine effectively, but that's not "skill."

[Desmong]

Very soon gold will be less valued than Bitcoin cause the price of Bitcoin had already surpass gold which is a natural resources, being mined from the Earth crust. Bitcoin is a digital asset and it's value always depend on many factors moving it price to be versatile. Although Gold is also versatile, maybe some persons can choose Gold because it physical treasure.

[Spack17]

Gold is centralized but it can be seen like a volatile asset also I think. It is just not as highly volatile as Bitcoin of course. Gold has a big potential to reach many times the current price in the future in my opinion. It just increases much slower comparing to Bitcoin's movements in bull markets. Bitcoin price is just destroying the last record and improving it a lot in the bull market.

[Kodok Bencot]

Gold is centralized but it can be seen like a volatile asset also I think. It is just not as highly volatile as Bitcoin of course. Gold has a big potential to reach many times the current price in the future in my opinion. It just increases much slower comparing to Bitcoin's movements in bull markets. Bitcoin price is just destroying the last record and improving it a lot in the bull market.

I think gold is decentralized, the price of gold is also volatile even though it's not like bitcoin, in my country the price of 1 gram of 24 carat gold is around $67, up $2 compared to last year's price, gold and bitcoin are 2 types of investments that are worth choosing, both are good and have potential the same, gold although slow but very safe because all humans on planet earth receive gold.

[BuNga_cute]

Very soon gold will be less valued than Bitcoin cause the price of Bitcoin had already surpass gold which is a natural resources, being mined from the Earth crust. Bitcoin is a digital asset and it's value always depend on many factors moving it price to be versatile. Although Gold is also versatile, maybe some persons can choose Gold because it physical treasure.

What you say can indeed come true, if we see the popularity of Bitcoin continues to increase and more and more people are starting to choose to
invest in Bitcoin over Gold. Moreover, millennials have started to focus on all things digital, then Bitcoin has also proven to be more profitable than Gold.
So indeed as time goes on there is a possibility that the demand for Gold will decrease. For now, investing in Gold is still safe and profitable,
but we don't know what will happen in the future if we see Bitcoin's development is growing rapidly. Moreover, if many countries start to make Bitcoin
a legal tender, many people will focus on investing in Bitcoin compared to other assets.

[Samandra]

Gold is a physical asset, and bitcoin is a virtual currency.
Gold has a long history of development and has gained widespread consensus in the world. Bitcoin has been in development for more than a decade and is still in its infancy.
Bitcoin is decentralized and can freely control personal assets. Its storage and transactions are on the Internet, so it is safer and more convenient than gold storage.

[michellee]

Very soon gold will be less valued than Bitcoin cause the price of Bitcoin had already surpass gold which is a natural resources, being mined from the Earth crust. Bitcoin is a digital asset and it's value always depend on many factors moving it price to be versatile. Although Gold is also versatile, maybe some persons can choose Gold because it physical treasure.

If the material of gold is not much anymore, the price of gold can soar to the high price and people will use gold as a rare thing and keep it in a secret place. Bitcoin could be the same as gold as the number of bitcoin will be less but the value will be increase so high.

The difference between bitcoin and gold is because of the forms and we know that bitcoin does not have physical forms while gold has physical forms.

[fullhdpixel]

What you say can indeed come true, if we see the popularity of Bitcoin continues to increase and more and more people are starting to choose to invest in Bitcoin over Gold. Moreover, millennials have started to focus on all things digital, then Bitcoin has also proven to be more profitable than Gold.
So indeed as time goes on there is a possibility that the demand for Gold will decrease. For now, investing in Gold is still safe and profitable, but we don't know what will happen in the future if we see Bitcoin's development is growing rapidly. Moreover, if many countries start to make Bitcoin a legal tender, many people will focus on investing in Bitcoin compared to other assets.

Millennial is just one aspect of it, we have now Z generation that grew up with bitcoin being a good and big thing. They do not remember the period when bitcoin was seen as a bad investment and all those talks about how it will be zero. Right now anyone who is 20 or so or even maybe younger thinks that bitcoin is this, the current thing, but they do not remember 10 years ago, or even 5-6 years ago when people were mocked for being interested in it.

This means the more we live, the regular it will become and crypto will be something that everyone will be using not only because it is a great thing but also because they have lived with it all their lives. Think about people who are 10-12 year old right now, when they are 20+ in 10 years they will be adults who lived in an age bitcoin was a thing, never seen anything before bitcoin, their birthday is younger than bitcoins.

[AmoreJaz]

What you say can indeed come true, if we see the popularity of Bitcoin continues to increase and more and more people are starting to choose to invest in Bitcoin over Gold. Moreover, millennials have started to focus on all things digital, then Bitcoin has also proven to be more profitable than Gold.
So indeed as time goes on there is a possibility that the demand for Gold will decrease. For now, investing in Gold is still safe and profitable, but we don't know what will happen in the future if we see Bitcoin's development is growing rapidly. Moreover, if many countries start to make Bitcoin a legal tender, many people will focus on investing in Bitcoin compared to other assets.

Millennial is just one aspect of it, we have now Z generation that grew up with bitcoin being a good and big thing. They do not remember the period when bitcoin was seen as a bad investment and all those talks about how it will be zero. Right now anyone who is 20 or so or even maybe younger thinks that bitcoin is this, the current thing, but they do not remember 10 years ago, or even 5-6 years ago when people were mocked for being interested in it.

This means the more we live, the regular it will become and crypto will be something that everyone will be using not only because it is a great thing but also because they have lived with it all their lives. Think about people who are 10-12 year old right now, when they are 20+ in 10 years they will be adults who lived in an age bitcoin was a thing, never seen anything before bitcoin, their birthday is younger than bitcoins.

you have a point on this. for younger generations who didn't see the rough start of bitcoin, they will assume that bitcoin is already in a good place even before they learned it. they won't know all those negative criticisms, unless, they dig the history and read all past comments about it. anyway, years from now, we may see bigger adoption of bitcoin or crypto, and maybe in some areas like El Salvador, living everyday with bitcoin or crypto would just be a normal thing as they started now integrating btc in their financial ecosystem. but we can't deny the fact that gold is a tangible asset that you can't discard its significance in human history. let alone, its vital uses in many industries like electronics.

[cafucafucafu]

At the end of the day, they're both good store of values in the long run and you are likely to outperform fiat by holding either of them.

But I just think that bitcoin is the better transactional token overall.

It has a more precise fixed supply compared to gold, the transaction costs are much lower (despite what people make it seem like), there are no storage costs, and the units are technically infinitely divisible. I think that as the new generation comes by, they'll realize increasingly that gold & other precious metals are very clunky and move toward cryptos.

[markdario112616]

As far as I know, Gold is not centralized. Given the current state, Gold can be bought legally and illegally as well same as Bitcoin. Not all Gold is tagged nor is the distribution are controlled by the Government. It would be centralized if the source of Gold was the Government itself, I think that's quite impossible in this era.


For the question of how it differs from one to another;

Well a lot, though one of the easiest is that Bitcoin is virtually available and Gold can be both.
Bitcoin is somehow Illegal in some countries but Gold isn't.
Both can be mined, Bitcoin virtually while Gold manual labor per see.

THough there are still a lot.

[Hippocrypto]

Gold and bitcoin is totally different from each other in the first place because their ability was unique as people trusted them. Bitcoin as digital asset has an advantages with respect to faster transactions, and fast adoption for each investors who desires to hold cryptocurrency. On Gold's physical value, it was an amazing thing as it's used as jewelry which increased a sustainable value as years gone by. Also, nowadays there digital asset that used gold as their name that depends on how their price moves along marketplace.

[btc78]

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,

all that you mentioned had been already posted here in forum thousand time before , and you have not stated any difference from all of the conversation i come across this forum for years now.

but in all of that, it is mining that takes my intention and yes gold is hard to mine nowadays same as bitcoin , year after year the mining gets slower and slower and the whole  21 million bitcoin will be mines estimated for more than 20 years from now.