Bitcoin > Gold

[chanler]

Bitcoin and gold cannot be debated continuously, both have their own advantages. nowadays many people invest in bitcoin but those who invest in gold are also not less. personally, i choose to invest in both but is more dominant invest in bitcoin and other cryptos. At least if I don't make a profit I still have investments elsewhere. but so far fortunately I have profited from crypto investments although some have also failed. That's okay, everyone has their own choice of where to invest.

[josephdd1]

Hey guys!


I am making this post to start the discussion of Bitcoin vs gold, I know that this topic has been discussed in different threads, but I have a different approach of this topic. I want to get the opinion of the people that think gold is superior so I can see the other side of the argument.

I believe that Bitcoin is superior to gold, they're both assets, but not the same kind of asset. Gold is physical in the sense that a government or large entity can take it away from you, without your knowledge, and without needing your permission. Bitcoin combats this, a Bitcoin wallet doesn't need a SSN, ID, and other identification to own. Anyone in the world has the right to own Bitcoin, but the same can't be said about gold. People also argue that gold is a safer asset because it can be insured. I second this, insurance needs identification, which adds a second layer of binding your assets to your data, meaning that multiple people know exactly who owns that gold and how much its worth, that leaves room for corruption inside of banks allowing an evil third party to be notified who owns large investments that could be stolen/robbed. Bitcoin, as long as you have an anonymous wallet, doesn't have this issue. So long as you mix your coins before you sell them peer to peer or at an exchange, your identity for the most part is safe. Along with that, you can store Bitcoin in cold storage for decades with no apparent owner, so that they can be accessed later without legal trouble arising because of someone claiming that the investments are theirs.


Thanks for reading, what do you think about the Bitcoin vs Gold debate?

I agree about everything you have said. Actually, it is much wiser to invest in Bitcoin than in Gold I think. It is easier to store Bitcoin as well as it is more liquid and has a less spread (between the price of buying and selling) than Gold (if we are talking about physical gold that requires special conditions to be stored and is more difficult to be sold fastly).

[Nightz]

I want to get the opinion of the people that think gold is superior so I can see the other side of the argument.

Bitcointalk may not be the best forum to get the other side of the argument. Majority here believe Bitcoin is superior to gold and for good reason too.

what do you think about the Bitcoin vs Gold debate?

Unnecessary for most of the part, Bitcoin is not competing with gold or fiat or any other currency or asset and it does not need to be proven to be better than gold, investors do their research and can come up with their own analysis of the venture.
Imo, it is discussed often cause it is an interesting topic, considering bitcoin was called digital gold for a period of time and both share some similarities.

This is some balanced answer to the general question I think. It really is a question of preference, believe, hope, insider knowledge, maybe even desperation or ignorance. Extremely strong positions for either one or the other always come across a bit narrow-minded. I think it really comes down to the very specific aspect/characteristic or use case you want to discuss. Even those specific aspects can often be discussed endless, like the government being able to confiscate my buried assets. Gold won't moulder in the ground and when I get out of jail I can retrieve it, a hardware wallet might suffer from failure over the course of a couple of years, but might be easier to hide and so on and so forth.

But still listening to maximalists can still be helpful to draw even better conclusions for yourself. As with anyone else, not everything they've got to say is wrong, and neither is it right all the time. Ultimately time will tell, but from a value appreciation standpoint, I think we probably all agree that the world won't be less digitized in the future and decentralized money or assets make a whole lot of sense, which at the same time doesn't mean that gold doesn't make sense. It depends, right?

[pinggoki]

Gold had its history and longevity to vouch for its relevance and purchasing power. Not to mention the practical and commercial uses of gold in the production sector. Bitcoin may have only been in the market for 10+ years but its exponential growth each step of the way proved to rival that of gold's. It also offers the same if not better profitability as gold plus the fact that it promises future application in technology and economically as a direct substitute to fiat currency. I wouldn't say one is better than the other because at the end of the day they serve different purposes in serving the people.

Bitcoin and gold are exactly different and it varies depending how people see them.

Gold can be an asset, sort of investment, or it can be just an art but either way it can be bought because there's a value of this precious metal due for its scarcity, BUT gold doesn't give you long-term hedge against inflation and occasionally gold can be used as a social status or show of wealth.

Bitcoin can be an asset in the form of investment, and it is already historically proven that bitcoin is the best hedge against inflation. And the one of the best thing about this crypto is it's safe, reliable and it is decentralized and that means there's no single person or organization that oversees the transaction so that you can remain pseudo-anonymous.

inflation is what sets apart these two. If people sees them as assets and stores of value then it is obvious that bitcoin will win over gold, with it being separate from the currency system of the world and it not being affected by outside circumstances that would normally affect fiat. However, rarely are things ever one-sided, and there are people who will take the practicality sector to test on whether these two go on par with each other, which I for one agree with. I just don't see the need for comparison because as you and I have said, they serve different purposes.

[finaleshot2016]

.......

You already answered the question since you've mentioned that Gold is a physical thing that can be taken away from you while Bitcoin, in the neat future, it can also be taken away from you. How? You can't transfer money to local exchange if you'll not verify your account so in order to verify the account, you need identification so in that way you can withdraw your money. So I don't get your point since both assets can be manipulated or controlled at some point. Both are investments but why are we always comparing things if we can afford both? Everything has flaws and of course, even some things are risky, we are still going for it hoping to gain something.