Hold Bitcoin VS Hold Gold

[fathafraink]

In this topic I will tell you about two camps; people who like Bitcoin and people who like Gold. So, Hold Bitcoin or Hold Gold ?. We will see from several aspects; Historical, Creator, Supply, Environmental Issue, and Monetary Function.

Between Gold and Bitcoin BTC

 First, let's look at the historical side. Of course, Gold's history is much longer than Bitcoin's. Gold has existed since this world was created. Even thousands of years ago. Gold has been used as money and a medium of exchange since 550 BC in Lydia. While Bitcoin has only existed since January 2009. So Bitcoin historical data is not as far and long as gold.

 The second, we see from side of the creator. The creator of Gold is the universe, and the scientists believe gold came from meteorites that rained down on the earth 200 million years after the earth was formed. While Bitcoin was created by Satoshi Nakamoto , we still don't know who this Satoshi Nakamoto really is. He could be very smart person, It could be an institution, it could be a community group, or even it could be a creation of AI or Artificial Intelligence (My wild thought). We never know who Satoshi Nakamoto is. Bitcoins are man made, it's man-made. But Bitcoins cannot be re-created or increased in number (The Supply).

 The third we will compare the amount of supply. Exactly how much is the maximum amount of gold supply?. We don't know, It could be suddenly find so many new gold sources that can be mined, so when there is additional supply, the assets will no longer be rare and worthless, so in the end the price goes down. While Bitcoin, the maximum supply is only 21 million coins and cannot be added again forever, This is what makes Bitcoin become so rare.

 The fourth is environmental issue. Well, environmental issues are becoming an important issue in the 21st century. Many parties (included some companies or firms) are vying to reduce their carbon footprint. For example, China has a carbon-free target by 2060. Mining gold from deep within the earth has a tremendous impact on the environment. And this is irreversible damage, while Bitcoin when compared to gold is more environmentally friendly, Because Bitcoin can be mined using renewable energy or cheaper energy. Bitcoin mining does not permanently damage the environment. In fact, there is no damage at all to Bitcoin mining activities. Because it happens on a computer network.

 Fifth, let's look at the monetary function. Even though gold is real money, money from the universe. And it was once considered money. But in the 21st century, gold has no monetary function. In the 21st century, gold is impractical, not portable ( as I said before in my last topic in Bitcoin Discussion) , and instead of making transactions easier, if we use gold , it makes transactions in this digital era more difficult. Wealth in the form of gold is not easy to move, especially across countries, during disasters, or wars. While Bitcoin makes transactions easier, because it can be done quickly through the Lightning Network, it can even cross countries. Bitcoin is also easily broken down to 1 satoshi, 1 satoshi is 0.000000001 Bitcoin, Zero by zero eight times behind. Bitcoins are also portable, Very easy to carry everywhere, because it's digital, can be accessed anywhere, the important thing is that we know our phrase. The price (value) of Bitcoin everywhere must be the same around the world, and as I said, the number of Bitcoins is limited, while the maximum amount of Gold supply is still unknown. Then about the risk, If this risk context is financial value, Gold is definitely very safe, Because the price is more stable and less volatile, but that doesn't mean there's no risk in saving gold, The risk of storing Gold is that the first is a thief, Yup, gold is very easy to steal. Why in ancient times did many kingdoms attack each other? Of course they were looking for gold. For example, in 215 BC, Rome stole gold from Macedonia, or after the Nazi fell, the gold was divided equally between America, Britain and France. Hmm, isn't it kind of theft too?. Gold storage is also difficult, to store large amounts of gold, you need a special place, tight security, and other thing, it's hard to move Gold in large quantities. Bitcoin is here as a solution to all of that. Bitcoins cannot be stolen. The Bitcoin network also can't be hacked.

Well, I think that’s all information about Hold Bitcoin VS Hold Gold. I really want to give you more informations, But I think it will be boring if the thread become so long to read, So I stopped, but also I think it’s a good way too for opening a discussion. I hope this thread could be a good discussion to expand our information and knowledge (well, inspite of there are people also said that News isn’t a Knowledge, I dont agree with that).

I also have a long answer of these questions :
 - Why Bitcoin can't be hacked?
 - So when is the right time to buy Bitcoin?


Sources / References :  - https://www.gold.org/history-gold/gold-as-currency
                                       - https://www.bbc.com/news/science-environment-14827624
                                       - https://en.wikipedia.org/wiki/Bitcoin
                                       - https://chinadialogue.net/en/climate/chinas-2060-carbon-neutrality-target-opportunities-and-challenges/?amp&gclid=CjwKCAjwv8qkBhAnEiwAkY-ahjB_SI6Zsh-2s-FJyIT3gm2BuieqXhbF873STTearZIntxLYO63NDhoC734QAvD_BwE

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[franky1]

looking at historical data


gold potential
 400     2500
||||||||||||
           ^gold position

btc potential
 15k         70k
||||||||||||||
       ^btc position

anything more need to be said?

edit to reply to below
seems more needs to be said

yes in a known strategy of buy low sell high bitcoin is in the low whilst gold is at its high
so yes bitcoin has more upside potential

[mk4]

- Why Bitcoin can't be hacked?

Nothing, and I mean nothing is hack proof. The thing with Bitcoin is that it just has been battle tested for a decade now, hence why it's very unlikely to be 'hacked'.

- So when is the right time to buy Bitcoin?

If you're bullish for the long term, now. If you're not bullish at all, never. If you want something more specific, then damn go ask a fortune teller.

[fathafraink]

looking at historical data


gold potential
 400     2500
||||||||||||
           ^gold position

btc potential
 15k         70k
||||||||||||||
       ^btc position

anything more need to be said?

Could you describe what it means? does it mean that bitcoin is more potential dan gold for now ?

Nothing, and I mean nothing is hack proof. The thing with Bitcoin is that it just has been battle tested for a decade now, hence why it's very unlikely to be 'hacked'.

The right word is; "Almost impossible to hack"

If you're bullish for the long term, now. If you're not bullish at all, never.

Yes, now is the time for the long term and I already noted for the long answers for the reason, and even recommend to use cold money.

If you want something more specific, then damn go ask a fortune teller.

Fortune teller, I don't think fortune teller is smart people who can describe a fortune specifically as its name

By the way,in Indonesia, the fortune teller called as "Smart People", but most of them are poor and lack of future.

[mindrust]

It is not one or another imo. Gold and bitcoin both have their place in the financial system. (or outside the system) Bitcoin is fundamentally better than gold but it has one flaw. It is still digital. The problem with this is, we still live in a physical world (no metaverse isn't going to change that and the internet hasn't changed that.) and when/if everything goes down, believe it or not, bitcoin will go down too. The chance of that happening is pretty slim but if it happens, gold will still be up and running.

Bitcoin has almost every layer of safety to protect you from a financial crisis. Gold on the other hand has one more. Gold goes to eleven.

[spectre71]

Boooooooring, the old gold vs bitcoin drivel.

Let's get Schiff and Pomp on here why were at it.

You have a portfolio with hedges and diversity, they are not mutually exclusive but work well together inside a portfolio.

BTC is getting rowdy and will give it a haircut tomorrow to secure my gains. However I will continue to DCA into it.

Don't go myopic 

[fathafraink]

gold will still be up and running.

Inspite of Bitcoin has high volatility, But Bitcoin also will still be up and running. And as I said on the post, We should use Cold money to hold Bitcoin, and holding Gold too, I think.

Boooooooring, the old gold vs bitcoin drivel.

Let's get Schiff and Pomp on here why were at it.

You have a portfolio with hedges and diversity, they are not mutually exclusive but work well together inside a portfolio.

BTC is getting rowdy and will give it a haircut tomorrow to secure my gains. However I will continue to DCA into it.

Don't go myopic  

what I'm saying is the fact that there is peoples who like gold,and peoples who like bitcoin or crypto, and it's not drivel. I think you should use at least a data, so we can have a good discussion here, and maybe it will be a quality discussion, so it could be helpful for other people.

[Flexystar]

How about both assets equally or with distributed investment in both of them. I don’t know why make so much discussion if anyways we are going to listen ourselves and see our investment and manage our investments by all ourselves. Why bother in discussing which one is better. Both seems to have their own profoundness with historical importance. It is already known that both type of assets mentioned will keep growing in terms of pricing because they follow the rule of demand & supply. I think it’s not very long when we will see people trading ton of money for both kinds. I consider one as physical, sovereign type of asset while other as digital, modernised asset. They carry lot of value and that’s important.

[spectre71]

Boooooooring, the old gold vs bitcoin drivel.

Let's get Schiff and Pomp on here why were at it.

You have a portfolio with hedges and diversity, they are not mutually exclusive but work well together inside a portfolio.

BTC is getting rowdy and will give it a haircut tomorrow to secure my gains. However I will continue to DCA into it.

Don't go myopic 

what I'm saying is the fact that there is peoples who like gold,and peoples who like bitcoin or crypto, and it's not drivel. I think you should use at least a data, so we can have a good discussion here, and maybe it will be a quality discussion, so it could be helpful for other people.

It is presented as BTC vs Gold, all or nothing. That is drivel.

I literally explained that you can smartly use BOTH inside a portfolio. That is quality discussion.

You are talking out both sides your mouth

[BD Crypto]

I think this topic is very essential to discuss because I saw some users here are taking about investing in Bitcoin by selling gold or Jewelry.
Here I am adding some points which should be noted before making any decision.

1. Obviously in Long term Bitcoin is much profitable and it has a limited supply. So day by day it's demand and price will increase if no extreme situation happens.  Bitcoin can't assure you a safe and profitable investment because if you invest when it's price is at ATH then you may see a very bad dump at the bear market. But if you buy in deep market then you may have a unbelievable gain than Gold. Again if any major exchange or online wallet have been hacked or any major bad news arrive then market can be cashed extremely.

2. Gold is much valuable and precious and day by day it's price is also moving up but slowly. And there is no limited supply of Gold. It's not much volatile as like Bitcoin and can't be. Again here is lower risks and lower profits. And there is no risk linke dumping Gold's price extremely at a sudden period.

So what I will choose? I will obviously choose Bitcoin investment as it's much profitable and secured but not all the funds or selling all the jewelries. I will invest in Bitcoin a specific amount of total assets. And obviously I will try to choose the right time to invest in. Though it's can't be predicted accurately.

[fathafraink]

How about both assets equally or with distributed investment in both of them. I don’t know why make so much discussion if anyways we are going to listen ourselves and see our investment and manage our investments by all ourselves. Why bother in discussing which one is better. Both seems to have their own profoundness with historical importance. It is already known that both type of assets mentioned will keep growing in terms of pricing because they follow the rule of demand & supply. I think it’s not very long when we will see people trading ton of money for both kinds. I consider one as physical, sovereign type of asset while other as digital, modernised asset. They carry lot of value and that’s important.

Then, let's look again at the fifth section (Monetary Function) which is the gold storage section. Won't it be very inconvenient to store gold? Especially nowadays, technology is very much prioritized, so if we want to send or exchange assets, we only use computers and networks. So how we could send or exchange the gold as fast as sending or Exchange Bitcoin?

It is presented as BTC vs Gold, all or nothing. That is drivel.

I literally explained that you can smartly use BOTH inside a portfolio. That is quality discussion.

You are talking out both sides your mouth

Ok then, so, let's look again at the fifth section (Monetary Function) which is the gold storage section. Won't it be very inconvenient to store gold?so regarding to bitcoin, if we want to send or exchange assets, we only use computers and networks. So how we could send or exchange the gold as fast as sending or Exchange Bitcoin or any other crypto?

[Fivestar4everMVP]

There is always the option for diversification, that is, instead of holding one of the two, you can hold the two, just incase one does not pay, the other can pay, or maybe the both can pay, and that means for profit for you as the investor.

Personally, if it's mandatory that I must choose one between the two, it will always be bitcoin, gold have existed for ages yeah, but I've never been able to invest in it, bitcoin began journey in 2009, and by 2016, I owned my first bitcoin, and this is even because I arrived late to the party..
So I will choose bitcoin, if not for any thing, for its simplicity, bitcoin is much more closer to the common man, the average man can easily access bitcoin more than they Can access gold, so I guess it's OK to say that bitcoin is for the people, while gold is for the elite, and by elite, I mean the government and it's body. So I will rather go with the people than go with the elite..

It is presented as BTC vs Gold, all or nothing. That is drivel.

I literally explained that you can smartly use BOTH inside a portfolio. That is quality discussion.

You are talking out both sides your mouth

Ok then, so, let's look again at the fifth section (Monetary Function) which is the gold storage section. Won't it be very inconvenient to store gold?so regarding to bitcoin, if we want to send or exchange assets, we only use computers and networks. So how we could send or exchange the gold as fast as sending or Exchange Bitcoin or any other crypto?

OP, please respect the rules of the forum, posting back to back can be considered as spamming, please read the rule blow and refrain from such style of posting..

32. Posting multiple posts in a row (excluding bumps and reserved posts by the thread starter) is not allowed.

If you have multiple comment to reply to, quote and reply to each in one comment, allow atleast, one post after yours, before you post again..

[DeathAngel]

Bitcoin beats Gold in every single category. The only thing Gold has over Bitcoin is longevity but what’s so special about that?

Bitcoin is easily transportable, have you ever tried taking $1,000,000 in Good across a border on your person on a flight? You can store unlimited amounts of Bitcoin on a small hardware wallet.

Bitcoin has increased in price by meteoric magnitudes since the first block was mined. Gold has gone up in price but holding Gold vs holding Bitcoin, even over the last 5 or 6 years is no comparison.

Bitcoin is the future, it will play a huge roll as a store of value, savings feature & means of payment in our lifetime.  Good looks nice but it’s a heavy, dumb rock, it has had its time.

[Aikidoka]

gold will still be up and running.

Inspite of Bitcoin has high volatility, But Bitcoin also will still be up and running. And as I said on the post, We should use Cold money to hold Bitcoin, and holding Gold too, I think.

I feel that both options are really promising, as they have the potential to increase in value over time. If you invest in them now you are likely to see a huge profits in the future.

It's difficult to determine which one is the absolute best since we cannot predict the future. However, I believe that Bitcoin would be the preferable choice or at the very least, it has the potential to make greater profits. Bitcoin is known for its high volatility in terms of price and taking advantage of the current opportunity could lead to a decent gain. I didn't mean to say that gold isn't really to invest on it but I see bitcoin is really better IMO.

[mindrust]

gold will still be up and running.

Inspite of Bitcoin has high volatility, But Bitcoin also will still be up and running. And as I said on the post, We should use Cold money to hold Bitcoin, and holding Gold too, I think.

It doesn't matter if the network is still up (which very well may not be btw unlike what you said) if you have no way to access the network. Short story: "EMP, No electricity, No internet, No satellite access, no working electronic device" etc etc

If you have some gold in your possession however, none of these will affect you. Owning physical gold has its own risks but that's not the topic of this discussion.

[Rruchi man]

In this topic I will tell you about two camps; people who like Bitcoin and people who like Gold. So, Hold Bitcoin or Hold Gold ?. We will see from several aspects; Historical, Creator, Supply, Environmental Issue, and Monetary Function.

Between Gold and Bitcoin BTC

Bitcoins and Gold are both good to hold, and if you can hold both of them, you should without completely choosing one over the other. It does not always have to be a choice, if you can afford to, having some gold and having some more bitcoins is a better choice.

You can safely, closely and easily keep your bitcoins. If it must be a choice between the two and where you must choose, bitcoins should be the choice.

[serveria.com]

In this topic I will tell you about two camps; people who like Bitcoin and people who like Gold. So, Hold Bitcoin or Hold Gold ?. We will see from several aspects; Historical, Creator, Supply, Environmental Issue, and Monetary Function.

Between Gold and Bitcoin BTC

 First, let's look at the historical side. Of course, Gold's history is much longer than Bitcoin's. Gold has existed since this world was created. Even thousands of years ago. Gold has been used as money and a medium of exchange since 550 BC in Lydia. While Bitcoin has only existed since January 2009. So Bitcoin historical data is not as far and long as gold.

 The second, we see from side of the creator. The creator of Gold is the universe, and the scientists believe gold came from meteorites that rained down on the earth 200 million years after the earth was formed. While Bitcoin was created by Satoshi Nakamoto , we still don't know who this Satoshi Nakamoto really is. He could be very smart person, It could be an institution, it could be a community group, or even it could be a creation of AI or Artificial Intelligence (My wild thought). We never know who Satoshi Nakamoto is. Bitcoins are man made, it's man-made. But Bitcoins cannot be re-created or increased in number (The Supply).

 The third we will compare the amount of supply. Exactly how much is the maximum amount of gold supply?. We don't know, It could be suddenly find so many new gold sources that can be mined, so when there is additional supply, the assets will no longer be rare and worthless, so in the end the price goes down. While Bitcoin, the maximum supply is only 21 million coins and cannot be added again forever, This is what makes Bitcoin become so rare.

 The fourth is environmental issue. Well, environmental issues are becoming an important issue in the 21st century. Many parties (included some companies or firms) are vying to reduce their carbon footprint. For example, China has a carbon-free target by 2060. Mining gold from deep within the earth has a tremendous impact on the environment. And this is irreversible damage, while Bitcoin when compared to gold is more environmentally friendly, Because Bitcoin can be mined using renewable energy or cheaper energy. Bitcoin mining does not permanently damage the environment. In fact, there is no damage at all to Bitcoin mining activities. Because it happens on a computer network.

 Fifth, let's look at the monetary function. Even though gold is real money, money from the universe. And it was once considered money. But in the 21st century, gold has no monetary function. In the 21st century, gold is impractical, not portable ( as I said before in my last topic in Bitcoin Discussion) , and instead of making transactions easier, if we use gold , it makes transactions in this digital era more difficult. Wealth in the form of gold is not easy to move, especially across countries, during disasters, or wars. While Bitcoin makes transactions easier, because it can be done quickly through the Lightning Network, it can even cross countries. Bitcoin is also easily broken down to 1 satoshi, 1 satoshi is 0.000000001 Bitcoin, Zero by zero eight times behind. Bitcoins are also portable, Very easy to carry everywhere, because it's digital, can be accessed anywhere, the important thing is that we know our phrase. The price (value) of Bitcoin everywhere must be the same around the world, and as I said, the number of Bitcoins is limited, while the maximum amount of Gold supply is still unknown. Then about the risk, If this risk context is financial value, Gold is definitely very safe, Because the price is more stable and less volatile, but that doesn't mean there's no risk in saving gold, The risk of storing Gold is that the first is a thief, Yup, gold is very easy to steal. Why in ancient times did many kingdoms attack each other? Of course they were looking for gold. For example, in 215 BC, Rome stole gold from Macedonia, or after the Nazi fell, the gold was divided equally between America, Britain and France. Hmm, isn't it kind of theft too?. Gold storage is also difficult, to store large amounts of gold, you need a special place, tight security, and other thing, it's hard to move Gold in large quantities. Bitcoin is here as a solution to all of that. Bitcoins cannot be stolen. The Bitcoin network also can't be hacked.

Well, I think that’s all information about Hold Bitcoin VS Hold Gold. I really want to give you more informations, But I think it will be boring if the thread become so long to read, So I stopped, but also I think it’s a good way too for opening a discussion. I hope this thread could be a good discussion to expand our information and knowledge (well, inspite of there are people also said that News isn’t a Knowledge, I dont agree with that).

I also have a long answer of these questions :
 - Why Bitcoin can't be hacked?
 - So when is the right time to buy Bitcoin?


Sources / References :  - https://www.gold.org/history-gold/gold-as-currency
                                       - https://www.bbc.com/news/science-environment-14827624
                                       - https://en.wikipedia.org/wiki/Bitcoin
                                       - https://chinadialogue.net/en/climate/chinas-2060-carbon-neutrality-target-opportunities-and-challenges/?amp&gclid=CjwKCAjwv8qkBhAnEiwAkY-ahjB_SI6Zsh-2s-FJyIT3gm2BuieqXhbF873STTearZIntxLYO63NDhoC734QAvD_BwE

Bitcoin is the new gold. That's why gold bugs are mostly older people, in contrast with Bitcoin, which is mostly being held by the younger investors. Gold, silver and other precious metals' prices are very stable, doesn't fluctuate a lot, by far not so volatile as Bitcoin, therefore less opportunity for huge growth and gains. Just my 2c.

[drwhobox]

LOL I don't want to die holding gold. I want my money invested in the technology and you may already know how gold works and if you are around bitcoin community for long enough or if you just can see the potential of bitcoin you will also pass on gold.

Bitcoin is the future for me, gold is not potential but rather a piece of jewelry for women.

[coinerer]

A look at the price movements of Bitcoin and gold over the last 10 years shows how different they are.  But if we think about safe investment, there is a lot of difference between the two.  Holding Bitcoin has a much higher annual profit potential than gold.  However, the risk here is also very high, but if you hold gold, the annual price change rate is low, but there is no risk here.So whether to hold gold or bitcoin depends on how much risk or profit he is willing to take.

[AmoreJaz]

A look at the price movements of Bitcoin and gold over the last 10 years shows how different they are.  But if we think about safe investment, there is a lot of difference between the two.  Holding Bitcoin has a much higher annual profit potential than gold.  However, the risk here is also very high, but if you hold gold, the annual price change rate is low, but there is no risk here.So whether to hold gold or bitcoin depends on how much risk or profit he is willing to take.

if you have the means and funds, why not invest in both. it is your advantage if you will take the opportunity of getting a hold of these two. there are pros and cons in both investments. but when you secure some gold assets, you are sure that it won't disappear overnight as it is a tangible asset. the market may go down but you will still be holding your physical gold.
so with this type of discussion, i won't favour one investment over the other. also, do remember the old saying here, don't put all your eggs in one basket.