Will you be in favor of Gold or Bitcoin !!

[Smack That Ace]

Deutsche Bank, one of the largest private banks in Germany, predicts Bitcoin will return to $28k by the end of the year.
Interesting is that they rate Bitcoin as more valuable than Gold, they compare Bitcoin as rare as Diamond.


https://www.bloomberg.com/news/articles/2022-06-29/deutsche-bank-says-bitcoin-could-reach-28-000-by-year-end



Personally, I think both Gold and Diamonds will not be comparable to Bitcoin.
Gold is still abundant on earth that humans have not yet exploited,
You know, Diamonds are something that we can make if we want more, Bitcoin is not, there is a limited 21 million Bitcoins and then no one will be able to generate more than one new BTC.


The Republic of Uganda, is a country located on the African continent.
On June 8, 2022, Uganda said it had discovered 31 million tons of gold ore, which could generate 320,158 tons of gold, more than the current total gold in the world is 201,296.
This is only one-way information from Uganda and has not been recognized by the world gold council, but it shows that it is difficult to know exactly how much gold is in the world, there may be a lot more out there. Regarding Bitcoin, no one can deny that there is only 21 million BTC.

https://news.bitcoin.com/uganda-claims-exploration-surveys-discovered-31-million-metric-tons-of-gold



Good luck

Duke

[pooya87]

Deutsche Bank, one of the largest private banks in Germany, predicts Bitcoin will return to $28k by the end of the year.

I think when bitcoin starts rising back up again and breaks a resistance or two, it won't just stop at $28k. Remember a couple of years ago when $4k was broken and in a very short time price went from $3.1k bottom to $10k?

In any case I believe that comparing bitcoin with other stuff that don't even fall in the same category as bitcoin (the currency) is wrong. Both gold and bitcoin serve different purposes than one another. For example you can't really use gold to pay for stuff easily but bitcoin is designed to do exactly that.
But as far as their cap and circulating supplies go, you are right both have limited maximum supply but gold's circulating supply can be increased by a lot as the news from Uganda proves.

[Smack That Ace]

In any case I believe that comparing bitcoin with other stuff that don't even fall in the same category as bitcoin (the currency) is wrong. Both gold and bitcoin serve different purposes than one another. For example you can't really use gold to pay for stuff easily but bitcoin is designed to do exactly that.

As you say, the comparison probably won't be quite right in every respect, fiat, gold, bitcoin, each with its own characteristics and used for different purposes. But people compare because they want to prove that bitcoin is good, it includes the features of gold and fiat. So if bitcoin is widely used then it is considered as all-in-one solution, it can be both a storage asset and a payment method.

[kamvreto]

choose both. Because Bitcoin and gold both have their own advantages and disadvantages. Can't be compared with just one difference.
Gold has a stable investment value and gold is also said to be a "safe haven" asset that will be safe for the long term and its price fluctuations are not like bitcoin.

Bitcoin has rapid and even extreme price fluctuations and this makes bitcoin a High Risk High Return digital investment asset.

[South Park]

choose both. Because Bitcoin and gold both have their own advantages and disadvantages. Can't be compared with just one difference.
Gold has a stable investment value and gold is also said to be a "safe haven" asset that will be safe for the long term and its price fluctuations are not like bitcoin.

Bitcoin has rapid and even extreme price fluctuations and this makes bitcoin a High Risk High Return digital investment asset.

Most people do not have the money to buy the two assets and as such investors need to pick a single one of them, if someone decides to pick gold I have no problem with it as it is better than to hold fiat, however in order to see any kind of benefits out of gold you need to either hold for decades or you need to invest in it before a severe economic crisis occurs, bitcoin on the other hand can give more profits in a shorter amount of time, and unlike gold which we do not even know how much it is left to mine, bitcoin is completely different and we know exactly how much it will ever exist, how much bitcoin is left to be mined and when this process will end, giving bitcoin a massive advantage if we compare it to gold or fiat in this particular aspect.

[ImThour]

This question is more like If you will favor Satoshi Nakamoto or Peter Schiff. Of course, Satoshi.
You are on a Bitcoin Forum and asking If Gold is worth anything in front of the fastest-growing asset class in history?
That's not how it works mate.

[Sayeds56]

Deutsche Bank, one of the largest private banks in Germany, predicts Bitcoin will return to $28k by the end of the year.
Interesting is that they rate Bitcoin as more valuable than Gold, they compare Bitcoin as rare as Diamond.


https://www.bloomberg.com/news/articles/2022-06-29/deutsche-bank-says-bitcoin-could-reach-28-000-by-year-end



Personally, I think both Gold and Diamonds will not be comparable to Bitcoin.
Gold is still abundant on earth that humans have not yet exploited,
You know, Diamonds are something that we can make if we want more, Bitcoin is not, there is a limited 21 million Bitcoins and then no one will be able to generate more than one new BTC.


The Republic of Uganda, is a country located on the African continent.
On June 8, 2022, Uganda said it had discovered 31 million tons of gold ore, which could generate 320,158 tons of gold, more than the current total gold in the world is 201,296.
This is only one-way information from Uganda and has not been recognized by the world gold council, but it shows that it is difficult to know exactly how much gold is in the world, there may be a lot more out there. Regarding Bitcoin, no one can deny that there is only 21 million BTC.

https://news.bitcoin.com/uganda-claims-exploration-surveys-discovered-31-million-metric-tons-of-gold



Good luck

Duke

I will be certainly  in favor of Bitcoin because it has shown tremendous  since it was launched back in 2009. This incredible growth has created many new Millionaires worldwide and no other asset class including  Amazon which is Giant of stock market  comes close to it.The only thing which worries me is Bitcoin strong co-relation with Stock market which is against its perception of store of value/Inflation hedge like Gold.

[worle1bm]

Gold is still a very popular choice for people but if you look at the returns then there are relatively negligible returns over gold investment over past few years while bitcoin has shown huge growth in just 13 years so for me bitcoin is the best option to invest your money in.The main point is you can use it and convert it to fiat or directly spend it if possible but that's not the case with gold and moreover government control it but bitcoin is your asset not anyone's else.

Here is quote from Satoshi himself while making this prolonged comparison:

It's the same situation as gold and gold mining.  The marginal cost of gold mining tends to stay near the price of gold.  Gold mining is a waste, but that waste is far less than the utility of having gold available as a medium of exchange.

I think the case will be the same for Bitcoin.  The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used.  Therefore, not having Bitcoin would be the net waste.

The gold supply is at the time not known and with mining it comes to existence and not a good investment for me so bitcoin is good option according to me.

[Poker Player]

Of course in a Bitcoin forum we are going to be more in favor of Bitcoin than gold. Some argue that Bitcoin is digital gold, a much better store of value than gold. Following the analogy that google maps is much better than paper maps, Bitcoin would be much better than gold.

Although it's not bad to have some physical gold, I have some. What you should not do is make the mistake of buying gold jewellery as an "investment" because if you are going to sell it in the future you will get much less than you paid for it.

[asimi.io]

Even though there is a lot of Bitcoins on exchanges I would not agree that Bitcoin is as vulnerable as gold. If you take self custody of yours Bitcoins and do it right it is much harder to find your millions or billions worth of Bitcoin and/or keep you from spending them as needed. Yes at that moment Bitcoin is down as compare to earlier year but it is not right thing to call it vulnerable as gold.

[yazher]

As you say, the comparison probably won't be quite right in every respect, fiat, gold, bitcoin, each with its own characteristics and used for different purposes. But people compare because they want to prove that bitcoin is good, it includes the features of gold and fiat. So if bitcoin is widely used then it is considered as all-in-one solution, it can be both a storage asset and a payment method.

That's right if we don't only have this fake news circulating around the internet, especially the global warming hoax that they putting the blame on the crypto miners. We have already reached our goal to prove to the critics that bitcoins can be stored and can be used as a means of payment for everything. Thankfully nowadays we have big companies that are supporting bitcoins by using it as one of the payment features and some countries that are supporting it as well. Unlike back then, you don't read such news and there are more critics than investors. Now we are heading towards a bright future with bitcoins and they already comparing gold with bitcoins due to its popularity.

[pooya87]

In any case I believe that comparing bitcoin with other stuff that don't even fall in the same category as bitcoin (the currency) is wrong. Both gold and bitcoin serve different purposes than one another. For example you can't really use gold to pay for stuff easily but bitcoin is designed to do exactly that.

As you say, the comparison probably won't be quite right in every respect, fiat, gold, bitcoin, each with its own characteristics and used for different purposes. But people compare because they want to prove that bitcoin is good, it includes the features of gold and fiat. So if bitcoin is widely used then it is considered as all-in-one solution, it can be both a storage asset and a payment method.

Exactly. When people compare bitcoin with gold they are only comparing one aspect of bitcoin with all that gold stands for. But bitcoin is much more than just being an investment or an asset, it is a currency, a store of value with a time stamped immutable decentralized ledger.

[gunhell16]

Anyone who wants to have Gold and Bitcoin, who doesn't want that. Now, since you posted something like that here on the Bitcointalk forum, we know that most of the members are crypto enthusiasts and Bitcoin enthusiasts fanatics,

and I'm also sure that not a single member here on the forum will say no We want gold of course, everyone also like to have Gold, but the majority want Bitcoin. This is just based on my knowledge as one of the community of this industry for a few years now.

[btc_angela]

I guess comparison is how rare both bitcoin is, but as far as I understand it, bitcoin might be rare than gold. And we have seen this comparison in 2017, a bullish run that's why there are many articles about it even in this community.

Each one has it's own advantage, but for investment purposes, obviously, I will favor Bitcoin (BTC).

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[stompix]

Deutsche Bank, one of the largest private banks in Germany, predicts Bitcoin will return to $28k by the end of the year.

So we're still deep down in bear and fear territory since the most positive piece of news predicts a return to $28k by the end of the year.
If you would have posted such an article two months ago you would have looked like a bear, now this is bullish 

Personally, I think both Gold and Diamonds will not be comparable to Bitcoin.

And yet you do it 

I don't understand this obsession some have to prove that Bitcoin is more valuable than gold, I don't even know what metrics they choose, 1BTC over one kilo one pound one gram of gold and even leaving that aside Bitcoin si one thing gold is another.
Bitcoin can do a lot of stuff gold can't and gold can do some of its own.
You want to store value securely with the key split in tens of places BTC is the way, you can't split gold into atoms and then bring it together (at least not economically feasible)
Do you want to send value in a minute on the other side of the globe with only you and the recipient knowing? BTC ll the way, it's not funny traveling for hours with 2 kilos of gold in your...
Can you give somebody a piece of gold without the need for a computer, electricity, or internet? Yes, even with BTC, this is still possible but with huge risks.
Do you want like the other 2 million people each year in the US to buy an engagement ring? Try it with BTC
As for its usage in medical treatments, there is absolutely no comparison.

Each one has its strengths and each one is impossible to replace with the other one in some cases, this whole debate is meaningless.

[Lucius]

Considering that I follow what is happening with Bitcoin in the EU, I can say that this is not the first time that German banks give positive opinions about Bitcoin, unlike some other European banks. German bank Bayern LB speculated in 2019 that Bitcoin would reach a price of around $90k after the halving, so even though $100k was something that many predicted, they were still closer to what ended up being the last ATH.

In addition, many large German banks have requested licenses for crypto trading during 2021, which means that the market has become aware that profit can be made there and that Bitcoin has a long-term future.

As for gold, I don't see why here should be so much discussion about what is better or what should be invested in - because gold has its advantages, just like Bitcoin. Long-term gold and Bitcoin have their place in everyday life, with the fact that gold has been proven for thousands of years, and Bitcoin is just at its beginning and will show its real advantages in the time to come.

[Darker45]

It's hard to just favor one and completely disregard the other. If I were to choose, I'd choose both. But suffice it to say that I'm not investing in gold right now. It's just that while there is indeed abundant gold in this world and even outside, I don't think it will lose its value in the next hundred years.

Anyway, I agree that Bitcoin isn't really comparable to both gold and diamond. In the case of both, I believe the earth won't be running out of supply even in the next centuries. With Bitcoin, everything's fixed. And it will run out at some point.

I don't agree with what the Deutsche Bank analysts seemed to imply, though, when they said that Bitcoin is more like diamonds in that it is "a highly marketed asset" rather than gold because the latter is "a stable safe-haven commodity." If we remove all the marketing in Bitcoin, it doesn't cease to be popular. The only difference is that its supporters would highly be populated with people who really believe in the technology rather than in a bull run.

Finally, $28,000 by year end is too low.

[KennyR]

I don't know how people consider bitcoin and gold. For some reason there is always a reason to state bitcoin is better than gold, same as that gold is better than bitcoin. In my experience I find bitcoin to be good, because if I've invested the amount I've spend on gold now I could've turned myself a millionaire. In some occasion the gold I've got helped in getting loan keeping it as collateral. Somehow I'm on the side of bitcoin, because of its limited supply whereas gold has got rare availability. Still through exploration more gold mines can be found.

[Jemzx00]

Personally, I think both Gold and Diamonds will not be comparable to Bitcoin.
Gold is still abundant on earth that humans have not yet exploited,
You know, Diamonds are something that we can make if we want more, Bitcoin is not, there is a limited 21 million Bitcoins and then no one will be able to generate more than one new BTC.

The physical gold and diamond cannot or will not be compared to Bitcoin but it was used a comparison as bitcoin act as a digital gold or diamond as an asset.
It really is a good thing to see how even a bank recognized the potential of bitcoin and cryptocurrencies where they even appreciated it's term from "Digital Gold" to "Digital Diamond". We all know that diamond has more value than gold and it symbolises the wealth of an individual due to it's rarity. True, that diamond can be artificially created however it's quality varies to it's density which is why it's value is high.

[TheUltraElite]

Diamonds are not worth putting your money in, so lets get that out of the picture right away.

Gold has its uses being part of jewellery and being liquid anywhere in the world, with a lot of paperwork involved. It is still accepted worldwide and can be sold to get fiat of that country.

Bitcoin is rather a currency that is supposed to be used anywhere in the world, but merchants do not accept it readily, yet.

Both Gold and Bitcoin are limited in real life even if being mined in many countries at this point. Hence my suggestion to anyone who might be wondering is to diversify into these assets. Go for the precious metals, real estate, Bitcoin and stocks. Dont narrow your focus on bitcoin only just because this is a bitcoin forum and most users here are bitcoiners. But dont go for altcoins and dont go for diamonds as an asset store of value.