BTC is scarcer than gold.

[evichi]

Your analysis is correct, Bitcoin is a lot more rare and scare than gold. The quantifiable nature of the digital currency makes it very scarce as people acquire the asset. That is why it is beneficial to long term holders - when bitcoin will enter the 6 -digit lane. Bitcoin is a unique digital asset worth HOLDING, but ensure you HOLD what you can afford to loose since the asset is highly volatile, best for long term investors.

[noormcs5]

No this is not true. Gold is mined and discovered every day and we do not know the maximum supply of gold. Even though bitcoin is also mined daily but there is a maximum limit on bitcoin supply.
Secondly, there is not only about scarcity but it is also about purity. With bitcoin, you are 100% sure that it is genuine bitcoin but there is an element and risk of impurity in gold.

Even though I prefer BTC compared to Gold, there are other potential issues with the former:

https://itscryptonews.com/industry-execs-claim-freshly-minted-virgin-bitcoins-fetch-20-premium-2/

I don't believe in any issues in bitcoin and it is more reliable than gold. Although bitcoin is very much volatile due to which people are afraid to invest in it. People prefer gold investment only due to the fact that it has been used for decades and its price is somewhat stable.

[m2017]

No this is not true. Gold is mined and discovered every day and we do not know the maximum supply of gold. Even though bitcoin is also mined daily but there is a maximum limit on bitcoin supply.
Secondly, there is not only about scarcity but it is also about purity. With bitcoin, you are 100% sure that it is genuine bitcoin but there is an element and risk of impurity in gold.

Even though I prefer BTC compared to Gold, there are other potential issues with the former:

https://itscryptonews.com/industry-execs-claim-freshly-minted-virgin-bitcoins-fetch-20-premium-2/

I don't believe in any issues in bitcoin and it is more reliable than gold. Although bitcoin is very much volatile due to which people are afraid to invest in it. People prefer gold investment only due to the fact that it has been used for decades and its price is somewhat stable.

Bitcoin's volatility can be safely ignored if invested for many years. The reason why people look at bitcoin with caution may not be volatility at all. Older generations are frightened by bitcoin's novelty and technical incomprehensibility for it. Gold has long been established in the minds of people for thousands of years as an element of wealth and reliability. Investing in gold seems like a habit, whereas investing in bitcoin has long been the preserve of young people, tech geeks and trailblazers (with a few exceptions). The difference between gold and bitcoin is that it doesn't allow you to grow wealth as much and is used to freeze your funds, not to increase them. Also, gold has low liquidity, while bitcoin is devoid of this disadvantage and can be sold anywhere in the world without any examination of authenticity. Although these two assets have some similarities, it seems to me that it very different and it is not entirely correct to compare them. One thing is certain, that the bitcoin number has a finite figure, while gold can be mined in new fields, whether it be the Earth, asteroids or other planets.

[boyptc]

Your analysis is correct, Bitcoin is a lot more rare and scare than gold. The quantifiable nature of the digital currency makes it very scarce as people acquire the asset. That is why it is beneficial to long term holders - when bitcoin will enter the 6 -digit lane. Bitcoin is a unique digital asset worth HOLDING, but ensure you HOLD what you can afford to loose since the asset is highly volatile, best for long term investors.

Most of the bitcoin holders have been firm in holding it and not gonna sell if it's not needed to be done.

We've been enduring all of these bear markets for a long time and I think even the new ones have been absorbing the energy from the long time holders through shared experiences and analysis.

But if I'm the typical investor, I'll take on board gold and bitcoin at the same time if I have the means of having them both since it's very much better thing to diversify if it's the both of it.

[Cryptmuster]

Most of the bitcoin holders have been firm in holding it and not gonna sell if it's not needed to be done.

We've been enduring all of these bear markets for a long time and I think even the new ones have been absorbing the energy from the long time holders through shared experiences and analysis.

But if I'm the typical investor, I'll take on board gold and bitcoin at the same time if I have the means of having them both since it's very much better thing to diversify if it's the both of it.

Yes, you are right, why choose between two assets if they both performed well over time and showed good growth over the years. Can't keep all the eggs in one basket, this rule is as old as the world. Moreover, no matter how good bitcoin was, gold existed long before it and with dignity survived many difficulties. It is too late to sell bitcoin now, no matter how much I believe in a further fall of bitcoin, but there is still the possibility that growth can begin at any moment.

[cryptosize]

Bitcoin's volatility can be safely ignored if invested for many years. The reason why people look at bitcoin with caution may not be volatility at all. Older generations are frightened by bitcoin's novelty and technical incomprehensibility for it. Gold has long been established in the minds of people for thousands of years as an element of wealth and reliability. Investing in gold seems like a habit, whereas investing in bitcoin has long been the preserve of young people, tech geeks and trailblazers (with a few exceptions). The difference between gold and bitcoin is that it doesn't allow you to grow wealth as much and is used to freeze your funds, not to increase them. Also, gold has low liquidity, while bitcoin is devoid of this disadvantage and can be sold anywhere in the world without any examination of authenticity. Although these two assets have some similarities, it seems to me that it very different and it is not entirely correct to compare them. One thing is certain, that the bitcoin number has a finite figure, while gold can be mined in new fields, whether it be the Earth, asteroids or other planets.

Couldn't agree more!

It took thousands of years to establish gold in people's minds*, it took many decades to establish the internet for the masses (since 1969/ARPANET), so chances are it won't take more than 10 years to establish BTC as the next reserve currency.

* https://www.youtube.com/watch?v=YHjYt6Jm5j8

The adoption curve keeps getting smaller and smaller with every new innovation...

Most of the bitcoin holders have been firm in holding it and not gonna sell if it's not needed to be done.

It doesn't make a lot of sense to sell assets (unless you're 100% sure you're gonna buy cheaper later on).

Just like owning a house... it makes more sense to rent it (passive income), rather than sell it (well, unless you're 80+ years old already)!

[YOSHIE]

Xxxx

I don't think human creation can be rare in the future, he said 21 million, but you don't know and neither am I the circulation of Bitcoins that are circling in the crypto market, orally and in writing 21 million, I think the beginning can be created in the end as well, the value of Bitcoin in my opinion is not based on scarcity, but based on demand/sell/buy.

Although gold, is not as efficient as Bitcoin, but gold is not a human creation and gold has been traded for thousands of years, in my opinion it is not difficult to sell and buy.

For that Bitcoin one day, for example, reaches a price of $xxx, my assessment is the buyer factor is not the basis of scarcity.

[ForMeritt]

Your analysis is correct, Bitcoin is a lot more rare and scare than gold. The quantifiable nature of the digital currency makes it very scarce as people acquire the asset. That is why it is beneficial to long term holders - when bitcoin will enter the 6 -digit lane. Bitcoin is a unique digital asset worth HOLDING, but ensure you HOLD what you can afford to loose since the asset is highly volatile, best for long term investors.

I think I also agree with you, as mentioned above Bitcoin is much rarer than gold and very hard to get and makes people very hard to get it, talking about fluctuating a lot of people don't really care about it, and also many people also say Bitcoin is much more reliable than gold. and I can say Bitcoin is very good and more suitable for investing with a long period of time.

But many people choose to invest their money in Gold, because they have a little fear of fluctuations in Bitcoin and choose to invest in Gold whose price will remain stable.

[famososMuertos]

It's always a "paradisiacal" counterpoint, but the situation is that it should not turn on a "mirage," you want to mention that bitcoin is scarce in reference to...gold, ok, why not, if that gives it a sense of belonging that's fine.

.../Q/...::
To be honest jewelries are the only real usage I see for gold myself. I suppose we can't wear a BTC as a necklace.

I think if we have a necklace with 12 secret phrases in gold, we could proclaim that we have a bitcoin necklace...sorry,  I think I'm entering the mirage phase.

[savetheFORUM]

gold is hard to move around, weighs a lot, it's hard to sell or buy, it's not practicable.

With BTC it's another story. We all know there are only 21,000,000 coins and 3-4 millions are already lost forever.

There is no Bitcoin in the whole Universe, except on Planet Earth.

BTC is scarcer than gold. I think one day 1 BTC will enter the $xxx,xxx zone then the $x,xxx,xxx HODL BTC

Before I see this thread I already know this fact. Common sense is enough to know this. The supply of gold is unknown while the supply of btc is limited to 21m only. There might be gold's on an asteroid but it will be very risky to get them because asteroids are I think moving very fast and don't hope that there would be some asteroid that will fell on the ground because it is too damaging.

Gold is hard to move around it is true for larger chunks but if it's only small? It is going to be easy and we have many pawnshops around us that accept gold. Aside from earth, we can also live on mars so it is also possible to carry our bitcoins there. As long as there is internet bitcoins is also functional.

[cryptosize]

Aside from earth, we can also live on mars so it is also possible to carry our bitcoins there. As long as there is internet bitcoins is also functional.

Not possible at all.

Earth <-> Mars latency is 10-20 minutes, which would break TCP/IP. 2 different chains would occur...

Therefore Mars would need Marscoin.

Bitcoin can only work on planet Earth, unless the whole humanity moves somewhere else altogether. An Earth colony far away will not be able to use or mine BTC.

[Despairo]

Btc and gold are both assets for the future, btc and gold are not worth comparing with each other, if you want a small risk choose gold investment but if you want a big risk and big profit choose bitcoin.

Gold is exist since a long time ago and has been used for store a value, but now gold doesn't have huge demand currently because of many assets are perform better than gold e.g. Bitcoin. Gold isn't an asset for the future since anyone have use it on 19th and 20th century, we're moving to the more technology stuffs. Bitcoin is the future since it can be used for both store a value and as a currency, that's why many people said Bitcoin is a digital gold.

[dohh]

BTC is scarcer than gold. I think one day 1 BTC will enter the $xxx,xxx zone then the $x,xxx,xxx HODL BTC

So is my saliva. It is also authentic to my DNA, no one can reproduce it without being me but they can check if I am the one who produced it.

it is also deflationary, as I get older and my salivary glands slow down.

[amt2299]

Yeah it's ture! Bitcoin is scarcer than gold. but the price of gold is more stable than that of Bitcoin.
https://xtrading.com/market-data/

[cryptosize]

Gold is not that rare indeed:

https://www.reddit.com/r/Bitcoin/comments/vcb5gb/31_million_tons_of_gold_deposits_found_in_uganda/

[tortic25]

244,000 metric tons of gold has been discovered to date, 55,000 tons of gold are left.

But there is still a lot of gold left in the universe. There is gold on asteroids for example. One day these will be minable. So the gold supply is not as limited as some may think.

However, gold is hard to move around, weighs a lot, it's hard to sell or buy, it's not practicable.

With BTC it's another story. We all know there are only 21,000,000 coins and 3-4 millions are already lost forever.

There is no Bitcoin in the whole Universe, except on Planet Earth.

BTC is scarcer than gold. I think one day 1 BTC will enter the $xxx,xxx zone then the $x,xxx,xxx HODL BTC

1. "244,000 metric tons of gold has been discovered to date, 55,000 tons of gold are left. " most of the gold is under the earths mantle, we will find ways to extract it, way before we're "mining asteroids"

2. Gold is used for alot of devices, billions of phones, pcs, gaming consoles etc, the cpu's, and gpu's used to mine bitcoin, there would be no bitcoin without gold.

3.All of these altcoins are just an improved version of bitcoin, pros of some of these alternatives are, faster transactions, more private transactions, cheaper transactions, not PoW, more features, etc.
The reason people are using bitcoin is, kinda like facebook, alot of people hate it, and pref the other social media platforms, but they never leave because those others don't have every person on the planet already using it. so they stick with the crappy version.
Basically bitcoin is like a visa card lets just say visa has higher fees, and the online transactions are always pending, And some altcoin that's better than bitcoin is a discover card, it has lower fees, and instant online transactions. but like everyone else
you don't apply for the discover card because no stores accept it.

4. Most importantly. Theres a reason the creator of bitcoin created bitcoin with 8 decimal places, that's 2,100,000,000,000,000 satoshi's , so it's really not scarce is it?

5. (BTC is scarcer than gold. I think one day 1 BTC will enter the $xxx,xxx zone then the $x,xxx,xxx HODL BTC) Theres countless reasons someone could speculate the price of bitcoin skyrocketing,
but this is the dumbest, The supply cap is what you think gives bitcoin it's value? really?

6. (There is no Bitcoin in the whole Universe, except on Planet Earth.) Why would you even say something so ridiculous? You think no one knows that? or do you think aliens are going to come buy it up and make it scarcer? is that whats going to contribute to the million dollar value? lol

7. Global warming is getting worse, it's more environmentally friendly to chop down trees, and print paper money lol, most regions it's not even profitable to mine bitcoin, most people who are doing it, are using government subsidies to turn a profit.
that's like using 100$ in electricity, and getting 90$ back. Hurting the planet, and screwing tax payers. Bitcoins blockchain doesn't work without miners pushing through the transactions. And the difficulty is only rising. It says the last bitcoin will be mined in 2140
do you think it's sustainable?

But bitcoin could be worth a million each, that doesn't mean everyone who uses it will have a million dollars to pay $10+ fees, difficulty rises, so does the cost to mine blocks.

But more likely this is what will happen. bitcoin just crashed to the price it was 2years ago, sooner or later it's going to crash so low, that miners will be losing insane amounts trying to mine blocks, the network will get so congested people wait days on their transactions,
And this will cause all kinds of panic sells, the price will spiral down to the point bitcoin won't recover. And this is when everyone will universally agree on an altcoin that will replace bitcoin as the standard crypto currency. unless the price gets high, and stays high before this happens.

[tortic25]

Btc and gold are both assets for the future, btc and gold are not worth comparing with each other, if you want a small risk choose gold investment but if you want a big risk and big profit choose bitcoin.

Gold is exist since a long time ago and has been used for store a value, but now gold doesn't have huge demand currently because of many assets are perform better than gold e.g. Bitcoin. Gold isn't an asset for the future since anyone have use it on 19th and 20th century, we're moving to the more technology stuffs. Bitcoin is the future since it can be used for both store a value and as a currency, that's why many people said Bitcoin is a digital gold.

are you stupid?

1. The price has only gone up for gold

2. theres over 15billion smart devices using min 0.1g of gold each that's 2,000tons, and how often do you buy a new phone, how often do you recycle your old one?
out of 244,000tons.  2,000 tons is used every 10years, less than 20% of it gets recycled. 244,000 isn't even the real number of available gold, and 1,600 tons of it is thrown away every 10years, just from smart devices.

i'll just copy paste the uses of gold....


Wealth protection and a financial exchange
Decoration, jewellery and medals
Electronics
Space exploration   (satellites)
Medicine and dentistry   (micro-particles are being used in the treatment of some cancers)  ( injected as a treatment for Rheumatoid arthritis and muscle damage)


bitcoin just crashed to the price is was 2years ago, and you really just said bitcoin is a better performing asset?

(we're moving to the more technology stuffs) you can't even mine btc without the gold used in your cpu/gpu.

(Bitcoin is the future since it can be used for both store a value and as a currency) All currency holds a value when you give it a trade pair, and even when you don't, every currency still holds a value, it's called a denomination.
This is the dumbest thing ive ever read in my long life of strolling the internet. I truly wish i could give you some kind of award.

[Minecache]

Your analysis is correct, Bitcoin is a lot more rare and scare than gold. The quantifiable nature of the digital currency makes it very scarce as people acquire the asset. That is why it is beneficial to long term holders - when bitcoin will enter the 6 -digit lane. Bitcoin is a unique digital asset worth HOLDING, but ensure you HOLD what you can afford to loose since the asset is highly volatile, best for long term investors.

Most of the bitcoin holders have been firm in holding it and not gonna sell if it's not needed to be done.

We've been enduring all of these bear markets for a long time and I think even the new ones have been absorbing the energy from the long time holders through shared experiences and analysis.

But if I'm the typical investor, I'll take on board gold and bitcoin at the same time if I have the means of having them both since it's very much better thing to diversify if it's the both of it.

Exactly mate! we don't necessarily compare gold and bitcoin, if possible it's best to invest in both instead of choosing either. Bitcoin is really good and worth the investment because of the profit it makes and its utility but there is no denying that bitcoin is still a new, highly volatile asset class and more difficult is that bitcoin is being disliked by governments so there will still be unforeseen risks. So diversify your portfolio and don't put it all in one basket.

[fenican]

And every copy of Bitcoin, with a different starting seed, is also scarcer than gold. That doesn't mean it has value. Anyone can copy Bitcoin by just changing a few parameters in the source code. The value of something is not determined by rarity, that is irrelevant, but rather consumer demand. Technically any 256 bit random number you generate is unique in all the world. Good luck, however, selling it.

[ultrloa]

Your analysis is correct, Bitcoin is a lot more rare and scare than gold. The quantifiable nature of the digital currency makes it very scarce as people acquire the asset. That is why it is beneficial to long term holders - when bitcoin will enter the 6 -digit lane. Bitcoin is a unique digital asset worth HOLDING, but ensure you HOLD what you can afford to loose since the asset is highly volatile, best for long term investors.

Most of the bitcoin holders have been firm in holding it and not gonna sell if it's not needed to be done.

We've been enduring all of these bear markets for a long time and I think even the new ones have been absorbing the energy from the long time holders through shared experiences and analysis.

But if I'm the typical investor, I'll take on board gold and bitcoin at the same time if I have the means of having them both since it's very much better thing to diversify if it's the both of it.

Exactly mate! we don't necessarily compare gold and bitcoin, if possible it's best to invest in both instead of choosing either. Bitcoin is really good and worth the investment because of the profit it makes and its utility but there is no denying that bitcoin is still a new, highly volatile asset class and more difficult is that bitcoin is being disliked by governments so there will still be unforeseen risks. So diversify your portfolio and don't put it all in one basket.

Many people compare because they threat both as an asset but this two is incomparable because we know that they have different attributes and also they have different usage so its not really good to see to release a comparison because everyone will give their different opinions towards this. But if I'm the one which I gonna choose among this for thinking that its a safe heaven I will choose gold because volatility of bitcoin is kinda scary but in terms of profitability its undeniable bitcoin is ideal for this.