Why Bitcoin must surpass gold

[CageMabok]

BTC can be kept online however gold needs physical place

That's just a very basic difference between the two and it's also very reasonable because so far it's never been a problem for those who keep it. I also have both now and store them well without any problems, so very basic things like this I don't think need to be told because those who have both of them will certainly know for themselves how to store them in a place that suits their nature. And you can have both if you like both assets now.

[Patrol69]

On the one hand, Bitcoin is not comparable to gold. Because gold is a recognized metal that is very popular worldwide. Gold is used by people in different ways. Some people buy gold to keep their money safe and others use it as jewelry but Bitcoin is only a digital currency. Bitcoin is not as popular globally as gold. There's a reason why gold is so popular because people have been using gold since ancient times and are familiar with it, but not Bitcoin. Bitcoin and gold are two different metals and currencies. Just as gold cannot replace bitcoin, bitcoin cannot replace gold. Two different metals and coins are at different places in terms of popularity.

[fuguebtc]

On the one hand, Bitcoin is not comparable to gold. Because gold is a recognized metal that is very popular worldwide. Gold is used by people in different ways. Some people buy gold to keep their money safe and others use it as jewelry but Bitcoin is only a digital currency. Bitcoin is not as popular globally as gold. There's a reason why gold is so popular because people have been using gold since ancient times and are familiar with it, but not Bitcoin. Bitcoin and gold are two different metals and currencies. Just as gold cannot replace bitcoin, bitcoin cannot replace gold. Two different metals and coins are at different places in terms of popularity.

It is confusing how many people are still trying to compare bitcoin to gold when they are completely different, and what if bitcoin wins or bitcoin loses? Will we give up gold and just use bitcoin, or will we give up bitcoin to just use gold if either side wins? Both are assets used in different use cases, and each has its pros and cons. If we are intelligent people, we should not waste time comparing them, instead take advantage of each type to come up with the best use cases.

[benalexis12]

There are two reasons. First, Bitcoin is a non-credit currency ten times stronger than gold. So unless Bitcoin is replaced. Otherwise he must surpass gold. Second, Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin. Combine these two points and Bitcoin is bound to surpass gold

In terms of its price, the gap between Bitcoin's value and Gold's is now very wide. In addition to that, they also have many differences, because firstly Gold is not volatile like Bitcoin, secondly Gold does not have a blockchain concept.
Although, in other respects they are the same, like as time goes on, its value increases, it can also be used as a currency exchange, but when it comes to the opportunity to make a profit, Gold is very limited, unlike Bitcoin, even if you are a poor person you can own Bitcoin unlike gold you can't.

[Woodie]

If you are going to ask any crypto enthusiasts about which of the two(bitcoin or gold)are better...8 of 10 times everyone would side with Bitcoin to surpass the other..,so will a person that loves to see their hard earned money in form of gold.

At this point, it's safe to assume we comparing oranges and apples here, and we can't separate the two which makes me believe this goes down to preference.

But without siding on any side, I think we can invest in both and collect any gains made by either of them...it's all about having a portfolio with a variety of assets.

[Cuenta Alternativa]

But without siding on any side, I think we can invest in both and collect any gains made by either of them...it's all about having a portfolio with a variety of assets.

But as members of this forum it makes sense to have considerably more bitcoin than gold. Gold is nice, you can touch it, in a small piece you can have thousands of dollars, but it is not digital. I personally have a bit of gold but I think bitcoin is better, although I also think that bitcoin will never completely replace gold, as gold has uses in jewellery and industry that bitcoin, being digital, obviously cannot have.

[Ozero]

The only side where Bitcoin can lead Gold is value, other sides Gold is the winner because Gold needs no regulation, no one is using power on Gold, no government want to take over Gold, it's something you can have with no one knowing you have some Gold.

Bitcoin works with the Internet and it is traceable through the Blockchain scan, brother, Bitcoin has more problem than Gold, volatility is huge problem and Gold is more stable than Bitcoin.

Still, I believe Bitcoin is perfect the way it is, because this is how it was built, let's not forget that the volatility performance of Bitcoin is also a big opportunity too.

It's silly to even compare gold and bitcoin. This is not just different financial assets, but completely opposite in their characteristics and properties. The only thing they have in common is the high price.
In general, bitcoin will not be able to surpass gold. Gold is an eternal value and it looks like it will be so for a very long time. In addition, it is no secret that states do not have a very favorable attitude towards cryptocurrency and its circulation largely depends on the position of states and their regulation of circulation in society.

[Lamkuthang]

There are two reasons. First, Bitcoin is a non-credit currency ten times stronger than gold. So unless Bitcoin is replaced. Otherwise he must surpass gold. Second, Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin. Combine these two points and Bitcoin is bound to surpass gold

As far as I know it is very feasible and most likely Bitcoin will potentially surpass gold in the future for my small reason is, Bitcoin is the most eyed by many investors as well as several other financial institutions meaning that it shows the great potential power of gold and is seen as a value hedging that works the most at the moment even though it is seen as speculative for people who don't understand BTC. But. it's still very normal.

[Z390]

There are two reasons. First, Bitcoin is a non-credit currency ten times stronger than gold. So unless Bitcoin is replaced. Otherwise he must surpass gold. Second, Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin. Combine these two points and Bitcoin is bound to surpass gold

This shouldn't be a competition, Gold will continue to survive and Bitcoin will always be here to, who cares which is better than the other?

They are both good choices for long-term investment, one is offline and one is online, I think it's a good combination for all smart investors.

I don't care if Bitcoin is twenty times stronger and I don't want to put them head-to-head to know which is better, they are both scare and Gold doesn't need the internet, where as the Bitcoin does.

Let's accept both for what they are.

[Sayeds56]

There are two reasons. First, Bitcoin is a non-credit currency ten times stronger than gold. So unless Bitcoin is replaced. Otherwise he must surpass gold. Second, Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin. Combine these two points and Bitcoin is bound to surpass gold

If I understand you correctly, you mean Bitcoin is stronger in terms of its market price. It is noteworthy that market cap of Gold significantly surpasses that of Bitcoin. Currently the market cap of Bitcoin stands over a trillion US dollars, whereas Gold market cap is estimated over 12 trillion. This stark difference is because traditionally Gold is perceived by vast population, as most secure and safe heaven investment since centuries. While Bitcoin is relatively new asset class in the modern world, and its widespread adoption will take time to materialize.

[MarjorieZimmermanGinger]

There are two reasons. First, Bitcoin is a non-credit currency ten times stronger than gold. So unless Bitcoin is replaced. Otherwise he must surpass gold. Second, Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin. Combine these two points and Bitcoin is bound to surpass gold

There is no clear source why bitcoin is able to surpass the price of gold, but some people say because the supply of bitcoin has a limited amount, so when the demand and supply factors exceed the amount, the price will tend to rise. I can't understand what non-credit bitcoin looks like? Even though gold and bitcoin are able to maintain their different values, gold does not have a fluctuating risk like bitcoin because the price of gold tends to be stable while bitcoin is very volatile.

In terms of the price of bitcoin, it has indeed surpassed gold and that's why people consider bitcoin to be the best investment, but when it comes to risks and fluctuations the two are different. Bitcoin is a digital currency while gold is a physical asset, when combining the two it will automatically be different.

[PeRo]

First of all, Bitcoin and gold aren't the same type of asset or investment so I don't know why it should even be compared. Bitcoin is a cryptocurrency with a fixated market cap and a very different market while gold isn't as limited and it is surely not used as a currency. Why would Bitcoin surpassing gold be a must? I just din't see the connection.

Also, I don't know what backs up the argument that Bitcoin is 10 times stronger. Stronger in exactly which terms? I don't think we should even compare those two assets and I think gold will always be a strong asset as it is now - since whole countries back up their wealth in gold.

[Porfirii]

First of all, Bitcoin and gold aren't the same type of asset or investment so I don't know why it should even be compared. Bitcoin is a cryptocurrency with a fixated market cap and a very different market while gold isn't as limited and it is surely not used as a currency. Why would Bitcoin surpassing gold be a must? I just din't see the connection.

-snip-

We compare everything, even in the case of objects that belong to different categories and are difficult to compare. In those cases we tend to use heuristics and change the difficult question for an easier one, with the risk of making serious mistakes.

Back on topic, I think that it will be interesting to add an updated chart that shows the historical ratio between Bitcoin and gold. Take into account that Y axis is not linear (logarithmic scale):


Source: https://www.longtermtrends.net/bitcoin-vs-gold/

Leaving the fundamentals aside and only taking that trend into account, it seems that Bitcoin's market is maturing since 2017 but from my perspective that ratio has room to grow for at least one or two more cycles if no black swan happens in the meantime.

Bitcoin and gold are frequently compared as investment assets. Gold has a longstanding reputation as a dependable store of value, often utilized as a hedge against inflation and economic uncertainty. Bitcoin, on the other hand, has emerged as a digital store of value in recent years, garnering attention for its limited supply and decentralized nature. While gold offers stability and tangibility, bitcoin provides advantages such as divisibility, portability, and transparency through its digital infrastructure. Both bitcoin and gold are commonly viewed as means to diversify a portfolio and hedge against inflation resulting from fiat currency debasement.

[Solosanz]

Bitcoin will beat gold, time will tell.

If Bitcoin and gold exist in the same time, Bitcoin price would be very high compared to gold because there are many features you can only find in Bitcoin, but not in gold.

Bitcoin is not perfect, nothing is. In some ways gold is better than Bitcoin and will always be. Gold doesn't depend on software, on computer networks, on cryptography, gold can't be stolen by malware, gold will not be useless during blackout.

You don't have to buy a physical gold to own gold, you have a choice to buy a digital gold in a trusted site. The risk is high if you have a digital gold because you're relying in centralization.

[elevates]

I still don't understand why Bitcoin is still being compared with Gold. Gold has been in existence for 10x years. Bitcoin came out a decade back. Comparing these two commodities is like comparing an old man and a young man. I mean gold has a lot of potential, trust and value. If I consider Golds popularity, still it is worthless in comparison with Bitcoin. One big reason to support my narrative and that is Bitcoin is not available physically as gold and Bitcoin is not that easy to buy & store like gold. That is not a problem for the existing generation or those from genz. Everyone wants a piece of Bitcoin to safeguard thier future. Whereas that is not happening with gold as it did before 2017.

[goldkingcoiner]

There are two reasons. First, Bitcoin is a non-credit currency ten times stronger than gold. So unless Bitcoin is replaced. Otherwise he must surpass gold. Second, Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin. Combine these two points and Bitcoin is bound to surpass gold

As I see it, there is no point in comparing Bitcoin with Gold. Both are completely different things. Sure they have been both used as currency but that is really the only relevant thing they have in common.

Bitcoin surpassing [insert valuable thing here] is only psychologically pleasing to those for whom gold was not already worth less than whatever. But for the people who already thought that Bitcoin is worth more than gold, it will not make a difference.

Bitcoin is unmatched and unique. Something which did not exist in the past. A new generation of money. And if you compare it to gold, it makes it seem worth less, in my opinion.

[tbct_mt2]

We compare everything, even in the case of objects that belong to different categories and are difficult to compare. In those cases we tend to use heuristics and change the difficult question for an easier one, with the risk of making serious mistakes.

Back on topic, I think that it will be interesting to add an updated chart that shows the historical ratio between Bitcoin and gold. Take into account that Y axis is not linear (logarithmic scale):


Source: https://www.longtermtrends.net/bitcoin-vs-gold/

Bitcoin is younger than Gold and only appears since 2009. Gold has been here in human civilization in many centuries and it has gotten enough tests for demands and market, economical and political changes.

In The bullish case for Bitcoin. The author compares Bitcoin and gold with excellent insights.

ROI chart between Bitcoin, Gold, S&P500, US Bond in last 10 years shows Bitcoin strongly outperforms others.

[Artemis3]

Bitcoin is a non-credit currency ten times stronger than gold.

Why Bitcoin is 10 times stronger, why exactly 10 times and not 100 times, and in what sense it is stronger?

Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin.

Bitcoin is not perfect, nothing is. In some ways gold is better than Bitcoin and will always be. Gold doesn't depend on software, on computer networks, on cryptography, gold can't be stolen by malware, gold will not be useless during blackout.

We don't know the exact amount of gold out there, "most" of it is believed to have been found on Earth.

And because its physical, lets remember what the United States of America did in 1933 until 1974: Executive Order 6102 which declared gold possession illegal. Hiding 12 words is definitely easier...

Just to give you some idea, my country declared illegal the possession of foreign currency until 2019, it has one of the worst fiats of the world for a reason, it lost 14 zeroes in the span of a decade from this kind of (State intervention) socialist mindset.

"The 10 times" is nonsense, because it can easily fall short. Is there "just" 10 times more gold than bitcoins? How do you know? That's the point.

[PeRo]

-snip-

We compare everything, even in the case of objects that belong to different categories and are difficult to compare. In those cases we tend to use heuristics and change the difficult question for an easier one, with the risk of making serious mistakes.

Back on topic, I think that it will be interesting to add an updated chart that shows the historical ratio between Bitcoin and gold. Take into account that Y axis is not linear (logarithmic scale):


Source: https://www.longtermtrends.net/bitcoin-vs-gold/

Leaving the fundamentals aside and only taking that trend into account, it seems that Bitcoin's market is maturing since 2017 but from my perspective that ratio has room to grow for at least one or two more cycles if no black swan happens in the meantime.

Bitcoin and gold are frequently compared as investment assets. Gold has a longstanding reputation as a dependable store of value, often utilized as a hedge against inflation and economic uncertainty. Bitcoin, on the other hand, has emerged as a digital store of value in recent years, garnering attention for its limited supply and decentralized nature. While gold offers stability and tangibility, bitcoin provides advantages such as divisibility, portability, and transparency through its digital infrastructure. Both bitcoin and gold are commonly viewed as means to diversify a portfolio and hedge against inflation resulting from fiat currency debasement.

I get that, as every asset is being compared. My question was more about the statement "Bitcoin must surpass gold". Even though there is a comparison, I don't think any kind of competitive measure should be held. Just my surface level opinion, even though I'm not much of an investor or analytic.

[Tony116]

First of all, Bitcoin and gold aren't the same type of asset or investment so I don't know why it should even be compared. Bitcoin is a cryptocurrency with a fixated market cap and a very different market while gold isn't as limited and it is surely not used as a currency. Why would Bitcoin surpassing gold be a must? I just din't see the connection.

Also, I don't know what backs up the argument that Bitcoin is 10 times stronger. Stronger in exactly which terms? I don't think we should even compare those two assets and I think gold will always be a strong asset as it is now - since whole countries back up their wealth in gold.

People like to compare bitcoin to gold because gold is still the most trusted and valuable asset. By comparing bitcoin with the most precious metal and highlighting the advantages that bitcoin has that gold does not have. From there, they argue that bitcoin is the best and surpasses all other assets. It is to say, this comparison usually comes from bitcoin maximalists as they always want bitcoin to be number 1 and prove that they are right.

People always have theories about bitcoin surpassing gold, but so far, I see that the demand for gold is still huge, and its market cap is 10 times larger than bitcoin.