Why Bitcoin Instead of Gold?

[spectre71]

Check this out

Over the years I have posted all kinds of thing for sale in the Bay Area for bitcoin. Not one sale. Change to dollars it's gone.

I challenge anyone to buy a used mower or anything off a neighbor, somebody you don't know already. I challenge you to buy groceries or a tank of gas directly with bitcoin... I can with gold or silver.

Comparing investments a to b is dumb. Your portfolio should be a symbiotic blend...

Go check out Ray Dalio and then his all weather fund.

Y'all gonna loose your ass's with a one legged investment scheme. There isn't one example of it in the wild

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[Woodie]

If this topic has been discussed before, I would appreciate it if you could enlighten me.

Like you rightly put it, this topic has been discussed numerous times here on the forum unfortunately
Bitcoin VS. GOLD >>https://bitcointalk.org/index.php?topic=2272001.0

BTC or Gold Investment? >>>https://bitcointalk.org/index.php?topic=5407203.0

So Bitcoin is better than Gold?  >>>https://bitcointalk.org/index.php?topic=1923060.0

Bitcoin or Gold? What would you pick? >>>https://bitcointalk.org/index.php?topic=585828.0

And the list goes on...

[goldkingcoiner]

Executive Order 6102

This can happen again. Much easier to hide 12 words than ingots, and you can easily cross borders to escape hostile countries without declaring anything, the State doesn't need to ever know.

Exactly. With gold you have to hide it and hope that nobody finds out and confiscates or steals it from you. And even if everything goes to plan, there are still other risks, like losing your gold. A physical and thus centralized store of value spells nothing but trouble. And for those people who claim gold price is more stable than BTC: what happens when a country discovers gigantic gold deposits? What happens when gold dependant tech is replaced by another new material?

[serjent05]

The answer to a debate that is constantly discussed on social media accounts and news outlets may open doors to different answers for everyone. So, Why Bitcoin Instead of Gold for you?

If this topic has been discussed before, I would appreciate it if you could enlighten me.

For me, I chose Bitcoin because of its portability.  It can be easily transferred and does not need a third-party institution for Bitcoin transactions.  Even though gold has been circulating for too long, the age of technology isn't stuck with ancient technology.  So as technology changes, there is a compatible technology that will make access, transaction, buying, and selling more convenient for traders and investors.

[Emmanuelex]

I think the reason why I chose Bitcoin is because it's easily accessible to me. The process in creating a Bitcoin wallet and funding it is very easy, there isn't much protocols involved in it. And another reason would be that I'm a tech enthusiast, I'm always into new stuffs that seem to be very interesting. I discovered Bitcoin myself, and since then I would say that it has been one of the best things I did for myself so far.

[n0ne]

The answer to a debate that is constantly discussed on social media accounts and news outlets may open doors to different answers for everyone. So, Why Bitcoin Instead of Gold for you?

If this topic has been discussed before, I would appreciate it if you could enlighten me.

For me, I chose Bitcoin because of its portability.  It can be easily transferred and does not need a third-party institution for Bitcoin transactions.  Even though gold has been circulating for too long, the age of technology isn't stuck with ancient technology.  So as technology changes, there is a compatible technology that will make access, transaction, buying, and selling more convenient for traders and investors.

Very few prefer bitcoin for the mentioned reason. Majority of us were upon the profitability. Just think of the growth bitcoin have achieved through the years. In reality most of the users who were part of bitcoin doesn't know the technology or the goodness behind it, just focusing on the profit they have made their entry into bitcoin. Even now the people who had made good profit out of gold investment never switch to bitcoin or something else considering the risks.

[Franctoshi]

The answer to a debate that is constantly discussed on social media accounts and news outlets may open doors to different answers for everyone. So, Why Bitcoin Instead of Gold for you?

If this topic has been discussed before, I would appreciate it if you could enlighten me.

Bitcoin's total supply is known, but you don't know the amount of Gold that would ever exist or be mined. It cost a lot of money to transport gold from one place to another (country to country), Bitcoin serves as a medium of exchange (buying and selling ). Bitcoin is divisible into fractions,  meaning you can own any amount of Bitcoin. Gold is controlled by the government (central authority ), Bitcoin is decentralized.

[Bitcoin_people]

The answer to a debate that is constantly discussed on social media accounts and news outlets may open doors to different answers for everyone. So, Why Bitcoin Instead of Gold for you?

If this topic has been discussed before, I would appreciate it if you could enlighten me.

We know that gold is an ancient resource and has been very popular among the world for years and the price of gold is always at a high level. We have seen that some countries use their natural resources to meet their economic deficit and this gold is a natural resource. Gold is an asset that people invest in and get good profits from it Gold prices go up and down again Gold is used by everyone in the world. But nowadays people are developing virtual currencies more and they are interested in investing in this virtual currency Bitcoin rather than planning to invest in natural resources. If we look closely at the future and past history of this Bitcoin, we will see that at one time the value of Bitcoin exceeded the value of gold. And seeing this position Bitcoin is trusted by everyone and everyone chooses Bitcoin for investment, the future of Bitcoin is bright due to which people invest more in Bitcoin than gold. Although currently the price of gold is higher than the price of bitcoin, we can expect that in the future the price of bitcoin will surpass the price of gold and bitcoin will once again reach its all-time high.

[Dave1]

The answer to a debate that is constantly discussed on social media accounts and news outlets may open doors to different answers for everyone. So, Why Bitcoin Instead of Gold for you?

If this topic has been discussed before, I would appreciate it if you could enlighten me.

Bitcoin's total supply is known, but you don't know the amount of Gold that would ever exist or be mined. It cost a lot of money to transport gold from one place to another (country to country), Bitcoin serves as a medium of exchange (buying and selling ). Bitcoin is divisible into fractions,  meaning you can own any amount of Bitcoin. Gold is controlled by the government (central authority ), Bitcoin is decentralized.

As far as supply though, if I'm not mistaken, bitcoin has surpassed gold already in terms of supply and it becoming more scarce. And then bitcoin used by government as reserved could be one positive for gold.

However, we can also used bitcoin as store of value, it is just volatile, but in terms of price, you can make money out of it, more profits as compare to gold.

And then bitcoin is borderless, you can go and travel with just your bitcoin around the world and no body will know it.

[Iranus]

The answer to a debate that is constantly discussed on social media accounts and news outlets may open doors to different answers for everyone. So, Why Bitcoin Instead of Gold for you?

If this topic has been discussed before, I would appreciate it if you could enlighten me.

For me, I chose Bitcoin because of its portability.  It can be easily transferred and does not need a third-party institution for Bitcoin transactions.  Even though gold has been circulating for too long, the age of technology isn't stuck with ancient technology.  So as technology changes, there is a compatible technology that will make access, transaction, buying, and selling more convenient for traders and investors.

Very few prefer bitcoin for the mentioned reason. Majority of us were upon the profitability. Just think of the growth bitcoin have achieved through the years. In reality most of the users who were part of bitcoin doesn't know the technology or the goodness behind it, just focusing on the profit they have made their entry into bitcoin. Even now the people who had made good profit out of gold investment never switch to bitcoin or something else considering the risks.

You have a point there. When talking or in discussions between gold and bitcoin, people will always compare their features and say that they will choose bitcoin because of its superior features. But in the end, they choose bitcoin because of the profit it brings, very few people will select bitcoin because of its features. If bitcoin suddenly becomes as stable as gold, I bet they will turn around saying good things about gold and start looking for the downsides of bitcoin. That's what's happening, but very few people want to discuss it. I also chose bitcoin over gold and my reason is that bitcoin returns better than gold, no second reason.

[Ale88]

The answer to a debate that is constantly discussed on social media accounts and news outlets may open doors to different answers for everyone. So, Why Bitcoin Instead of Gold for you?

If this topic has been discussed before, I would appreciate it if you could enlighten me.

Bitcoin is extremely more scarse than gold, it's also way easier to store since you just need to remember your seed, and it's also way more difficult to seize. Those are just some basic facts, I can also say that bitcoin can actually be used to pay for services and products while with gold it would be way more complicate. These are just the first things that came to mind, for sure there are more.

[xSkylarx]

The answer to a debate that is constantly discussed on social media accounts and news outlets may open doors to different answers for everyone. So, Why Bitcoin Instead of Gold for you?

If this topic has been discussed before, I would appreciate it if you could enlighten me.

If you can hold both, the better. There is no need for debating, but one of the reasons why people choose Bitcoin instead of gold is that they know. I mean, you are truly anonymous, and you can bring it anywhere you go, unlike having gold bars that you can't bring because they are too heavy. Also, one of the reasons is that the volatility of Bitcoin is unlike gold, which had a stable upward price, whereas Bitcoin will jump high as fast as overnight and also go down abruptly, which is what risk-taking people really want.

[Vaskiy]

The answer to a debate that is constantly discussed on social media accounts and news outlets may open doors to different answers for everyone. So, Why Bitcoin Instead of Gold for you?

If this topic has been discussed before, I would appreciate it if you could enlighten me.

If you can hold both, the better. There is no need for debating, but one of the reasons why people choose Bitcoin instead of gold is that they know. I mean, you are truly anonymous, and you can bring it anywhere you go, unlike having gold bars that you can't bring because they are too heavy. Also, one of the reasons is that the volatility of Bitcoin is unlike gold, which had a stable upward price, whereas Bitcoin will jump high as fast as overnight and also go down abruptly, which is what risk-taking people really want.

Yes, holding both seems to be the fair thing. The anonymity is a great feature that gives the secure feeling. Not many prefer this, most of them choose bitcoin over gold for its accessibility. However the anonymity feature is much used by people who are into gambling and related stuffs. Apart from this, to overcome cross border transaction the anonymity feature helps and that are used by very small percentage of people. These days even the anonymity is shattered with the requirement of KYC from gambling and exchange platforms. The ultimate for which bitcoin preferred is the growth on the investment.

[Tamaperdana]

The answer to a debate that is constantly discussed on social media accounts and news outlets may open doors to different answers for everyone. So, Why Bitcoin Instead of Gold for you?

If this topic has been discussed before, I would appreciate it if you could enlighten me.

Bitcoin and gold are indeed both excellent investment assets or stores of value. But don't be left behind, these two assets also definitely have what is called a deficiency. As with gold, in terms of gold supply, it is very abundant. In contrast to bitcoin which only has a supply of 21 million. It is clear from the supply side, less bitcoin and more gold supply. But even so, gold has the most stable price than bitcoin. Because you can see and feel that the price of gold has always been stable and not much different, especially when viewed from the price point of view. But while bitcoin has an unstable price, for example from a price of 60 thousand dollars in 2021, it can drop to a price of less than 20 thousand dollars. That way it can be seen, that in terms of price, gold is indeed more stable than the price of bitcoin.

Continue the next comparison, in terms of potential. From a potential perspective, these two assets actually have very good potential for the future. Because we certainly already know, bitcoin users are currently increasing, and there are even countries that have legalized bitcoin as currency, which is legal for transactions, such as in El Salvador. Interestingly, all bitcoin investors probably all agree that the price will continue to rise.
But gold is no less competitive in terms of potential, because it cannot be denied that gold appeared earlier than bitcoin. Means it is certain and clear, that gold is more popular than bitcoin. Besides that, gold also has many uses, so you can say that this gold is an asset that has many uses. So if you look at all the arguments I'm making, gold and bitcoin are both very valuable assets.

And to answer your question, why bitcoin instead of gold. To be honest I really like both of these assets, but for now I'm only investing in bitcoins. Why? That's because the cost or capital used to invest in bitcoin tends to be cheaper than investing in gold, which as far as I know has a higher minimum purchase. Maybe that's the reason, why I chose to invest in bitcoin.

[Texac]

The answer to a debate that is constantly discussed on social media accounts and news outlets may open doors to different answers for everyone. So, Why Bitcoin Instead of Gold for you?

If this topic has been discussed before, I would appreciate it if you could enlighten me.

If you can hold both, the better. There is no need for debating, but one of the reasons why people choose Bitcoin instead of gold is that they know. I mean, you are truly anonymous, and you can bring it anywhere you go, unlike having gold bars that you can't bring because they are too heavy. Also, one of the reasons is that the volatility of Bitcoin is unlike gold, which had a stable upward price, whereas Bitcoin will jump high as fast as overnight and also go down abruptly, which is what risk-taking people really want.

Yes, holding both seems to be the fair thing. The anonymity is a great feature that gives the secure feeling. Not many prefer this, most of them choose bitcoin over gold for its accessibility. However the anonymity feature is much used by people who are into gambling and related stuffs. Apart from this, to overcome cross border transaction the anonymity feature helps and that are used by very small percentage of people. These days even the anonymity is shattered with the requirement of KYC from gambling and exchange platforms. The ultimate for which bitcoin preferred is the growth on the investment.

I disagree with you saying that bitcoin's anonymity feature is being used mainly by gambling enthusiasts.  there are many ordinary users who are fed up with government control and are also using bitcoin to get rid of that control.
But I agree with you that most people choose bitcoin because of its strong growth rate and not because it is decentralized or gives them privacy.  that's why we see that the number of investors using centralized exchanges remains high even though centralized exchanges are disrupting bitcoin's decentralization.

[YUriy1991]

The answer to a debate that is constantly discussed on social media accounts and news outlets may open doors to different answers for everyone. So, Why Bitcoin Instead of Gold for you?

If this topic has been discussed before, I would appreciate it if you could enlighten me.

I think you have got the answers from friends above and that is the choice of investors to invest. Gold and Bitcoin 'Digital Gold'. Both have their own attractive charm, of course. But, everyone wants to be simple and easy, don't want to bother anymore, meaning that what they invest is widely accepted and has practical value.

I myself think that gold will always be used by people for investment, while Bitcoin is for trading and speculation as well as investment. 3:1 for me. Now, the question now is if OP has enough funds, which one did OP buy first?

[Stella Mese]

indeed the debate about gold and bitcoin to this day seems unfinished, because indeed bitcoin certainly has advantages including the limited amount of supply of bitcoin supply because there are only 21000000 bitcoins while for gold of course the supply can be called unlimited because people keep mining every day gold, whereas for bitcoin, of course, the supply is limited, it will have the potential to increase in price in the future. but the weakness of btc is that it has a fluctuating nature and has the potential to decrease in price but if our invest in gold, of course the risk is not too high, but in terms of profit, in my opinion, investing in btc is greater than in gold. but of course gold also has the potential to rise in the future but in my opinion gold would be suitable as a store of value.

[Z_MBFM]

Bitcoin instead of gold because
- Bitcoin reaching too much
- Bitcoin value is huge
- it is secure
-it is easy to hold
-it very easy to buy and sell
-The risk of theft is low
- Billions of dollars can be stored without telling anyone
- Its transactions can be done completely anonymously
- Chances of return from this are several times higher than Gold
There are thousands of reasons why bitcoin is better than gold and investing in bitcoins instead of gold is smart idea and more profitable.

[Vaskiy]

The answer to a debate that is constantly discussed on social media accounts and news outlets may open doors to different answers for everyone. So, Why Bitcoin Instead of Gold for you?

If this topic has been discussed before, I would appreciate it if you could enlighten me.

If you can hold both, the better. There is no need for debating, but one of the reasons why people choose Bitcoin instead of gold is that they know. I mean, you are truly anonymous, and you can bring it anywhere you go, unlike having gold bars that you can't bring because they are too heavy. Also, one of the reasons is that the volatility of Bitcoin is unlike gold, which had a stable upward price, whereas Bitcoin will jump high as fast as overnight and also go down abruptly, which is what risk-taking people really want.

Yes, holding both seems to be the fair thing. The anonymity is a great feature that gives the secure feeling. Not many prefer this, most of them choose bitcoin over gold for its accessibility. However the anonymity feature is much used by people who are into gambling and related stuffs. Apart from this, to overcome cross border transaction the anonymity feature helps and that are used by very small percentage of people. These days even the anonymity is shattered with the requirement of KYC from gambling and exchange platforms. The ultimate for which bitcoin preferred is the growth on the investment.

I disagree with you saying that bitcoin's anonymity feature is being used mainly by gambling enthusiasts. There are many ordinary users who are fed up with government control and are also using bitcoin to get rid of that control.
But I agree with you that most people choose bitcoin because of its strong growth rate and not because it is decentralized or gives them privacy.  that's why we see that the number of investors using centralized exchanges remains high even though centralized exchanges are disrupting bitcoin's decentralization.

Gambling is among the most used industry. Just think of a scenario in which an ordinary person use bitcoin. He needs to buy from an exchange where he have fulfilled KYC and from there he could use some mixing service and make himself anonymous. Apart from that he should buy bitcoin in person paying fiat in cash and receiving bitcoin in a non custodial wallet. These days anonymity is not much effective as regulated usage is encouraged.

[Negotiation]

Both are good and both increase in value over time but unlike bitcoin is a highly liquid asset. Unlike gold crypto transactions are not subject to government regulation making it more flexible bitcoin also has high earning potential, as its value can increase rapidly. However this volatility makes it a risky investment as it can quickly rise in value if demand is high. Bitcoin's advantage is that bitcoin has provided significantly higher returns than other assets in recent years. While fiat currencies and very liquid assets can be difficult to measure digital assets like bitcoin are preferred by investors due to their modern market position.