Bitcoin > Gold

[QuickAccount]

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?

[o48o]

Government can literally take your private keys as easily as your hidden physical gold if they want, i mean good luck hidding that private key and if it's only in some physical device, it doesn't matter if officials can decrypt it or not if they confiscate it. Also btc wallet isn't an anonymous wallet, it's pseudonymous. You might feel that's nitpicking, but it makes all the difference since EVERYTHING can be tracked. That comes problematic when you try to cash out a bigger sum and your id will go to that mix.

[DeathAngel]

Government can literally take your private keys as easily as your hidden physical gold if they want, i mean good luck hidding that private key and if it's only in some physical device, it doesn't matter if officials can decrypt it or not if they confiscate it. Also btc wallet isn't an anonymous wallet, it's pseudonymous. You might feel that's nitpicking, but it makes all the difference since EVERYTHING can be tracked. That comes problematic when you try to cash out a bigger sum and your id will go to that mix.

The government can’t take my bitcoin, they won’t find my private keys, impossible. It really isn’t that hard to engrave them on something & hide or bury them. I could do 15 years in jail, get out & nobody would have found them.

Bitcoin is better than gold in every way.

[BlackHatCoiner]

Bitcoin is better than gold as a store of value asset, objectively.

• It can sent from one side of the planet to the other within seconds. (And it's extremely cheap with LN)
• It's easier to cut it into 100,000,000 pieces.
• It doesn't take space. (No storage costs)
• You know exactly how many there'll be.
• It's easier to verify.

And it introduces an extra feature: Trustless divided possession. (Multi-sig)

Anyone in the world has the right to own Bitcoin

But, is this true? Lots of human rights are violated from authoritarian states. So, while everyone should have the right to own Bitcoin, they don't. While everyone should have the right to vote democratically, they don't. While everyone should have the right to be educated or health cared for free, they don't.
 
Some don't even have water.

[milewilda]

Government can literally take your private keys as easily as your hidden physical gold if they want, i mean good luck hidding that private key and if it's only in some physical device, it doesn't matter if officials can decrypt it or not if they confiscate it. Also btc wallet isn't an anonymous wallet, it's pseudonymous. You might feel that's nitpicking, but it makes all the difference since EVERYTHING can be tracked. That comes problematic when you try to cash out a bigger sum and your id will go to that mix.

The government can’t take my bitcoin, they won’t find my private keys, impossible. It really isn’t that hard to engrave them on something & hide or bury them. I could do 15 years in jail, get out & nobody would have found them.

Bitcoin is better than gold in every way.

Crypto does have that kind of characteristics but honestly i dont get the point on why people do really compared out Bitcoin into a natural mineral that can be founded on earth.When it comes to value
then we do know on whats the position of gold.Well it might not really be that volatile compared to bitcoin but when it comes to store of value and security then i would say that
gold would really have it but well they do serve out different markets and at least we do have some option to take.

[Upgrade00]

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.

[GeorgeJohn]

Op, i can't oppose your opinion towards Gold and Bitcoin both are digital currency, but we have to know that gold has been in existence with fiat currency and people don't like to trade with gold any longer, and from my perception it seems that gold currency has lost validation and influence in the market, so might say that bitcoin has taken over adoption of gold, because trading bitcoin is like everyone choice instead of gold, it's not like they challenges in gold or a competition between Bitcoin currency and gold currency, what actually happened both currencies is a propagation.

[OgNasty]

Somewhat of a blanket statement that couldn't possibly hold true.  For example, when I make jewelry out of my Bitcoin, nobody ever gives me compliments.  Electricity also doesn't seem to travel along Bitcoin quite as easily and Bitcoin makes for poor teeth fillings.  In the event of a global internet outage or solar flare taking out the power grid, gold may find itself holding value a little better than Bitcoin.  Just a couple things off the top of my head.  Is Bitcoin a better investment vehicle for online trading, sure.  Is it going to be replacing gold in our circuitry anytime soon?  No.

[hatshepsut93]

Bitcoin and gold have different properties, and Bitcoin has weaknesses that won't allow it to fully replace gold.

 - Bitcoin relies on cryptography and code and hardware. Those things are not 100% secure.

 - Bitcoin needs internet connection, which might be taken down

 - Imagine if China will restrict all computers that are being sold on their market to only be compatible with their own OS that won't allow running Bitcoin. We take free Internet and software for granted, but what if it will change in the future? At least in some parts of the world?

 - Bitcoin is still considered an experiment. This is not my words, it's the words of Bitcoin devs. It is very succesful, but it's still not 100% set in stone. While gold has been a store of value for thousands of years.

[Baofeng]

Here you can check this thread as it has been discussed for many years in this community.

2015
Bitcoin vs Gold: The Age Old Debate

2017
Bitcoin VS. GOLD
So Bitcoin is better than Gold?

2018
Bitcoin vs. Gold, Fiat and Altcoins (Updated: Traits of Money)

2019
Bitcoin versus Gold, the conflict

2020
[UPDATED] Bitcoin vs Gold vs The US Stock Market(US500)

[oktana]

A lot of people keep asking for no comparison between both as they are different and have different properties. However, IMO, Bitcoin is superior. Just compare the advantages that it brings to the advantages that Gold brings, then you'll understand that Gold is in the past. It does not reign anymore.

[SyndicateLabs]

‘Bitcoin capitalization will surpass gold’
‘Bitcoin is gold 2.0’…
are some familiar sayings in the recent Bitcoin vs gold investment debates.

“Bitcoin can't scale and will hit a dead end as more adoption occurs. This is not a story of price, but of value and technology. Whatever you do, an old car can't turn into a Tesla. It's still an old car.”

 

“Gold also failed to scale. When the industrial age came, money was needed to scale up, so the government switched to paper backed by gold. Does the world suddenly decide that another good will have a monetary character? Are not ”

 

“I think these two investment channels complement each other”

 

And to calm the already fraught debate, now for both Gold and BTC portfolios in 2021 are offering excellent returns.

[Fundamentals Of]

The Bitcoin vs gold debate could be approached from different sides. You can look at it in different angles. All I'm saying is that Bitcoin is much better than gold in certain respects as gold is also much better than Bitcoin in others. If we are going to discuss about seizure, Bitcoin is indeed better than gold. But if we talk about certainty that the value won't crash in the next hundreds of years, gold might be better than Bitcoin. We cannot compare the two in its entirety as if they are completely the same.

[wajik-tempe]

The Bitcoin vs gold debate could be approached from different sides. You can look at it in different angles. All I'm saying is that Bitcoin is much better than gold in certain respects as gold is also much better than Bitcoin in others. If we are going to discuss about seizure, Bitcoin is indeed better than gold. But if we talk about certainty that the value won't crash in the next hundreds of years, gold might be better than Bitcoin. We cannot compare the two in its entirety as if they are completely the same.

We also cannot say the value of gold will be more valuable than bitcoin in 100 years. You can say like that because gold is already hundred years age or maybe thousands. But bitcoin age is just under 20 years and it's still developing within year.
In this digital era where people are less meet each other, i think digital assets is becoming a new gold in the future, people will no longer save their physical assets but everything is in digital but with better security ofcourse.

[Rajamuda]

Overall both have their respective advantages, and there is nothing wrong if we take the initiative to invest in both, it's just that the level of legality, profit, and risk is different. This world has many choices, we know which one is better and right to choose in relation to our living conditions.
Bitcoin is clearly superior in terms of its popularity, and its role is increasingly becoming more and more desirable due to its presence in the internet world and its sophisticated technology. Here people who are left behind will miss something new that is indeed superior to gold which is fairly ancient.

[bittraffic]

They are both assets with great value. If you think about the internet shuts down, you may fear that BTC will also fail but this is going to fail everything since banking today also depend on the Internet.

The Solar Flare fud was spread months ago but had died shortly after it but it was about the Internet going to shut down when it happens to which Bitcoin may also not going to work while Gold will also survive. So it must be good to have both just in case things happen or a war.

[Fundamentals Of]

The Bitcoin vs gold debate could be approached from different sides. You can look at it in different angles. All I'm saying is that Bitcoin is much better than gold in certain respects as gold is also much better than Bitcoin in others. If we are going to discuss about seizure, Bitcoin is indeed better than gold. But if we talk about certainty that the value won't crash in the next hundreds of years, gold might be better than Bitcoin. We cannot compare the two in its entirety as if they are completely the same.

We also cannot say the value of gold will be more valuable than bitcoin in 100 years. You can say like that because gold is already hundred years age or maybe thousands. But bitcoin age is just under 20 years and it's still developing within year.
In this digital era where people are less meet each other, i think digital assets is becoming a new gold in the future, people will no longer save their physical assets but everything is in digital but with better security ofcourse.

We can never be sure that gold would still be valuable in the next hundred of years of course. But since it has been around as a valuable asset for thousands of years, would it not be logical to assume that it would remain so for the next hundred years? Bitcoin is still only more than a decade old. It has not proven that it would remain the best of currencies despite all the massive changes that would occur in the history of humanity. Bitcoin is highly dependent on technology. Technology develops really fast. Things get obsolete faster in technology.

[DapanasFruit]

I have no problem with gold and if we let it alone it would continue to be an important precious metal that will always be useful in many ways. However, when we take a look at it as an investment in comparison to holding Bitcoin, we can see that it got some disadvantages and the most glaring is that not all can easily buy or get into it just like Bitcoin...because with Bitcoin you can buy one even with just $1. Now, of course, you can't wear Bitcoin unlike with gold that you can mold into jewelries as a show of wealth.

In summary, am comparing gold to real letters (or postcards for that matter) which we used to send to post office in the past while Bitcoin is like the email that we are receiving right now...it is fast, cheap to send and though we can't touch it we can read it all day.

[rodskee]

Hey guys!



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

you are asking in Bitcoin community/forum so how can you expect the reaction might be? of course majority will favor Bitcoin against Gold.

but practicality Gold is the best way to keep safe our asset but the problem is the lower increase in value and that is even bring lowering price .

Yes Bitcoin is Best for me as i have tried holding gold and bitcoin .

[pooya87]

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,

Both arguments are wrong if you ask me because you are comparing apples and oranges. Bitcoin and gold are not in the same category to be compared like this.

Gold is a precious metal that is only used as an investment (even jewelries are kind of an investment) and other use cases such as usage in electronics, etc. are too small to matter. Also gold is an ancient "asset".
Bitcoin on the other hand is a currency and it is brand new. In comparison to gold it is an infant (1000+ years versus 12 years).

they're both assets,

Wrong.
Bitcoin is a currency, whether some people choose to invest in bitcoin doesn't change its nature. I always use the example of countries with hyper inflation, if in Venezuela you invested USD to fight the inflation that doesn't turn USD into an asset, it still is a currency that you are investing in.

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.

There is a contradiction in this statement of yours. If gold is "physical" then nobody can take it away from you without your knowledge. They have to take it by force.
In this sense they can also take your bitcoin by force, although it is harder.

Bitcoin combats this, a Bitcoin wallet doesn't need a SSN, ID, and other identification to own.

Not quite right. You need a private key and nothing else. I don't know what you mean by "SSN" and "ID" or "other..." here but none of them are needed.

People also argue that gold is a safer asset because it can be insured. ~ Bitcoin, as long as you have an anonymous wallet, doesn't have this issue.

Insurance is done by using a third party, that doesn't matter what you are insuring as long as there is some company that does this. So it could work for both bitcoin and gold. It is a dumb thing but it is possible. They aren't doing it for bitcoin yet only because bitcoin isn't that big and its price is too volatile for the insurance companies to handle.