what is the difference between Bitcoin and Gold?

[Edith1994]

in my own understanding some of the differences between Bitcoin and gold are:

1: Gold  are used in industrial application                 
                                 while
     Bitcoin are used in underlying technology
      such as block chain

2: Gold are stored as in a vault and on a safety         
     deposit box.
                                 while
      Bitcoin are stored as a physical assets.

3: Existence; Gold has been in existence
      before Bitcoin.

4: in time of buying and selling or exchange:
     Gold  require physical present during
       exchange.         
                             while
       Bitcoin doesn't require physical present
       during exchange.

5: Gold can be faked while Bitcoin can not be
     faked.

6: Gold can be used in making different
      items .
                                 while
     Bitcoin is just an asset (money) used in
      buying items.
   

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[Charles-Tim]

Bitcoin are stored as a physical assets

Bitcoin are stored digitally, which is on blockchain.

Gold can be faked while Bitcoin can not be faked.

Yes, no fake bitcoin, only 21 million limited supply. But people should be aware of testnet which is just used for testing of how bitcoin are used.

Bitcoin is just an asset (money) used in buying items.

Bitcoin is a long term appreciative asset. Yes, bitcoin is money.

[BlackHatCoiner]

Bitcoin are stored as a physical assets.

What is this suppose to mean? The keys which will allow you to spend bitcoins can be represented physically, yes.

Gold can be faked while Bitcoin can not be faked.

Both can be faked if the recipient isn't careful enough. In Bitcoin, if you haven't installed a non-custodial wallet, which was verified beforehand, and obtain the blocks' information from your own full node, then one can cheat you. Gold can also be faked, it's just harder to verify.

[SatoPrincess]

I can’t see where this is going OP. What’s your point? Bitcoin is better than gold? Bitcoin is better than fiat? This shouldn’t be much of a debate in a bitcoin forum. Bitcoin has surpassed gold in value although I don’t think bitcoin will replace gold. Both can exist in this world.

2: Gold are stored as in a vault and on a safety        
     deposit box.
                                 while
      Bitcoin are stored as a physical assets.

Gold is a physical asset. You can touch and feel it, bitcoin is a digital asset stored in the blockchain

[Pmalek]

Gold are stored as in a vault and on a safety deposit box.

That's a physical type of storage, isn't it?

while Bitcoin are stored as a physical assets.

Bitcoins exist only digitally, not in any physical shape. If they were physical assets, you would be able to touch them. You could put them on your coffee table. Maybe the coin produces some noise and smells funny. Btw, what's the weight of a meter of Bitcoin?   

Gold require physical present during exchange. while Bitcoin doesn't require physical present during exchange.

You previously said that Bitcoins are physical assets. You can't have it both ways.

Gold can be faked while Bitcoin can not be faked.

Sure it can. Ask Binance.

[Charles-Tim]

Bitcoin has surpassed gold in value although I don’t think bitcoin will replace gold. Both can exist in this world.

Although, bitcoin is very young if compared to gold and also that bitcoin is the most successful asset of last decade and yet growing in valuation but bitcoin is now worth $725 billion in marketcap, gold is worth over $10 trillion. Yes, both can exist, they have some similar and different purposes.

[SatoPrincess]

Bitcoin has surpassed gold in value although I don’t think bitcoin will replace gold. Both can exist in this world.

Although, bitcoin is very young if compared to gold and also that bitcoin is the most successful asset of last decade and yet growing in valuation but bitcoin is now worth $725 billion in marketcap, gold is worth over $10 trillion. Yes, both can exist, they have some similar and different purposes.

Gold is accepted as a currency in every part of the world. Bitcoin hasn’t achieved half of the mass adoption gold has and yet the value of bitcoin in the last ten years has surpassed gold

https://www.fool.com/investing/2022/01/22/heres-why-bitcoin-is-better-than-gold/]
Since May 2013 (the earliest data provided by Coin Market Cap), Bitcoin's value has surged more than 24,400%. During the same time, the price of an ounce of gold has increased by just 25%.

My point of view is both bitcoin and gold can coexist in the market. You don’t have to choose between the two you can own both. They are both long term investments.

[sunsilk]

2: Gold are stored as in a vault and on a safety         
     deposit box.
                                 while
      Bitcoin are stored as a physical assets.   

It should be gold that's kept and stored as physical asset. Maybe you're trying to say that bitcoin is kept through a hardware wallet and that's a physical one.

     Bitcoin is just an asset (money) used in
      buying items.

Not a 'just'. But it's used for both, as an asset and as a payment for your purchases. And as time goes by, its use is widely accepted also as a store of value just as gold.

[Charles-Tim]

yet the value of bitcoin in the last ten years has surpassed Bitcoin.

That should be a typo.

I understand what you are trying to imply, that the wealth bitcoin has given to its holders is much more than that of gold if comparing both since when bitcoin was created, that is what I meant as the most successful asset of last decade, and yet still growing in value.

[aoluain]

While the two are far removed from each other the two have been compared against
each other pretty much since the forum began and since Bitcoin has been created.

2010 - Bitcoin vs Gold

Gold is a physical precious metal extracted from the earth and has many uses from
Jewellery and ornamental, Investment, Industrial, medical to scientific.

Bitcoin is digital, it doesnt have a physical form and has limited use in the form
of financial uses.

Bitcoin can be REPRESENTED in physical form using Gold.

Bitcoin has a limited supply but Golds supply is theoretically unlimited,
nobody knows how much there is in the earth.

There are lots of threads about Bitcoin v Gold, Gold v Bitcoin already on the forum.

[Yamifoud]

There are lots of threads about Bitcoin v Gold, Gold v Bitcoin already on the forum.

It is always and no ending comparison and surely we heard this again years from now.
But I believe that everyone already knows what this Bitcoin is all about and also Gold in real life. Have nothing to do with them as to whether we like it or not, they totally different in physical matter.

Digital vs Metal, things are very obvious that we don't need to compared the two as they are in a different world, yet they are bound together in a form of investment. Well, I love to have them both...

[Lucius]

Gold is accepted as a currency in every part of the world. Bitcoin hasn’t achieved half of the mass adoption gold has and yet the value of bitcoin in the last ten years has surpassed gold...

As a currency? I have not yet experienced (at least in the modern world) that someone enters a store and pays for some goods or services with gold, but I know that with Bitcoin a lot can be bought today. Gold and Bitcoin are two completely different worlds, but people are persistently trying to put them in the same corner as if the fate of one depends on the other.

5: Gold can be faked while Bitcoin can not be faked.

     
Every Bitcoin fork is in some way fake Bitcoin, and in the world of scammers, fake BTCs are sold in the form of a test coins or as watch-only wallets. One who does not know the difference between a public address and a private key becomes aware that he bought fake BTC only when he tries to spend it.

[PrivacyG]

As a currency? I have not yet experienced (at least in the modern world) that someone enters a store and pays for some goods or services with gold, but I know that with Bitcoin a lot can be bought today. Gold and Bitcoin are two completely different worlds, but people are persistently trying to put them in the same corner as if the fate of one depends on the other.

You can legally use precious metal to buy goods with them.  This is why some of these coins have face value.  But the face value is always so much lower than the coin's value itself and obviously, you do not want to use a $1,000 coin to pay for goods worth $10.  So it is definitely not the same thing as paying with Bitcoin, but the fact is you can pay with precious metal in countries where certain coins are accepted as legal tender.

-
Regards,
PrivacyG

[Findingnemo]

Damn gold was created frw million years ago while bitcoin was just 13 years ago which point you forgot to mention.

There is actually mo relation for bitcoin and Gold but still I don't understand why we arr comparing both of them all the time?

[Coyster]

My point of view is both bitcoin and gold can coexist in the market. You don’t have to choose between the two you can own both. They are both long term investments.

Absolutely, if it is possible one can own the both of them, then why not? I know in the past couple of years Bitcoin has recorded tremendous success, but i think if we are to look at it from outside of the fact that we are Bitcoin believers/users, Gold is more of a safe haven asset than Bitcoin is now, will Bitcoin get to that stage were it can be regarded as a safe haven asset? Will there be a time when volatility becomes unnoticeable in the network? I do not know what mass adoption will bring for the network, but i do know we'll get to that point, is that when Bitcoin will be said to be a safe haven asset?

[Zotak337]

One is physical and the other is digital, BTC is the gold of the digital world and also money of the digital world, do we need to compare? I think NO because BTC has surpassed Gold already now the target is becoming real money.

[YOSHIE]

Maybe for me personally I don't want to distinguish or compare Bitcoin with Gold, I know that the two clearly have far differences and cannot be equated between the two.

For me Gold is of course gold and Bitcoin of course Bitcoin.

Sometimes people misinterpret gold and Bitcoin, it's because of the yellow gold color factor and Bitcoin is also often seen as yellow, Try bitcoin often seen on the internet in clear colors, surely people will compare Bitcoin with diamonds, I sometimes don't understand why people are always busy comparing gold to Bitcoin, other crypto/coins are also the same as Bitcoin, why has it never been questioned, why does it have to be with gold, what's the deal with Bitcoin and Gold.

If people think logically and scientifically, maybe they don't want to distinguish or compare Gold with Bitcoin, clearly the location and position is different, Gold is earned in rock/earth while Bitcoin is earned on online exchanges, it is very inefficient to compare the two.

[Lucius]

~snip~
If people think logically and scientifically, maybe they don't want to distinguish or compare Gold with Bitcoin, clearly the location and position is different, Gold is earned in rock/earth while Bitcoin is earned on online exchanges, it is very inefficient to compare the two.

It’s simply in human nature, we’re constantly comparing something, and since gold is often compared to Bitcoin in the context of a store of value, people are just wondering if Bitcoin is some kind of digital gold that’s better invested in than plain gold. At this point, we can say that it was definitely better to invest in Bitcoin if we look at a period of 10 years, because gold is worth the same today as then, and Bitcoin with just a few dollars came to almost $70 000 at one point.

One of the very important differences is of course the unlimited amount of gold (or at least at the moment it is not possible to say exactly how much there is on earth), and the max supply of Bitcoin is quite clearly defined, like all other protocols. In terms of electricity consumption and environmental pollution, all objective research has concluded that gold mining and its processing consume far more energy and pollute more than Bitcoin mining, as well as the banking sector.

Bitcoin therefore has far less impact on the environment, is extremely portable and is available to everyone 24 hours a day, 365 days a year anywhere in the world.

[traderethereum]

The difference is you can see Gold as a physical thing while you can not see bitcoin and can not touch it but you see the number of bitcoin in your wallet.
The price is also different. Gold has more stable than bitcoin because we see how bitcoin price moves.
Gold is preferable for many people out there while only people who can see the benefits of bitcoin will use it for their investment.
Gold exists in the real world while bitcoin existed in the digital world.

[Charles-Tim]

Gold exists in the real world while bitcoin existed in the digital world.

We understood that gold is tangible as it can be seen in real life which makes it physical while bitcoin can not be seen. But this does not mean bitcoin is not existing in the real world but virtually. What we can see as the virtual world right now are virtual realities like the Metaverse, bitcoin has been existing over 10 years before the world is moving towards virtual reality like Metaverse.