What are the pros and cons of gold compared to bitcoin?

[Smack That Ace]

If you are comfortable with volatility, then go with Bitcoin, and if you prefer stability, then go with gold. I think Bitcoin can be suitable for either short or long-term investments depending on your investment goals. You can take profits by buying and selling, but of course, we know that this comes with risks and requires careful attention. If you simply want long-term wealth preservation, then gold is the way to go. I only have Bitcoin because I prefer its advantages over what gold offers. And I am aware of its cons.

There is no need to explain in circles or compare them and deliberately favor bitcoin over gold. Let's be honest with each other, we prefer bitcoin because of the benefits it brings us. Profit, privacy, being our own bank... these are the reasons we will choose bitcoin over gold. Profit is probably the top priority because it is also the most prominent point when someone wants to compare bitcoin with gold. I personally own both because I need to diversify to keep myself safe since everything has risk.

[1714613235]

1714613235

[1714613235]

1714613235

[1714613235]

1714613235

[1714613235]

1714613235

[YOSHIE]

What makes bitcoin a better (or worse) substitute for gold? This is an important question since bitcoin is constantly being compared to gold.

For me if we continue to compare gold with Bitcoin, I think we are all wrong in our judgment, be it in terms of investment, trading and other things, we all know that gold and Bitcoin are two very different elements, the advantages and disadvantages are very clear for both.

You can buy gold on one side/physically and gold has been used from century to century, as well as the buying and selling value, gold has nothing to do with the internet.
One side of Bitcoin cannot be touched, This is a sign of greater risk than gold, Bitcoin can only be used based on internet activity to access buying and selling.

So, I think if we compare gold and bitcoin, they are two different things, of all things, both clearly have real advantages and disadvantages for their users, maybe we don't need to explain too long about both.
For more details you can see it here: Gold vs. Bitcoin: Which Is Better?
Fact:

• Gold has been an asset that holds value over long periods and is used to hedge against market downturns.
• Bitcoin is young and unproven as an investment, but cryptocurrency speculators are using it to store value and hedge against corrections and recessions.

[Youngkhngdiddy]

  If I want to buy an ounce of gold, I can easily self-custody that amount. However, if I wanted to buy 100 or 1,000 ounces, I would have to store that amount with a bank or third-party for feasibility and increased security. However, with Bitcoin, I can self-custody any amount of bitcoins with a wallet that only I have access to and that is secured by cryptography. Many stories throughout history exist where one’s own country or an invading country steals the citizens’ wealth that was stored in banks. Bitcoin doesn’t need banks. You can own and secure it independently.
  Ultimately, I like both Bitcoin and gold. Both are non-state monies that protect people against fiat currency debasement. Both are bearer assets. Both are hard to create and incredibly scarce. I believe Bitcoin improves upon several of gold’s properties (scarcity, transmission, fungibility, divisibility, etc.), and as an investor, I think Bitcoin’s improvements will result in its eventual dethroning of gold in terms of market cap. For what is worth, I am very much in favor of cryptocurrency. Mankind has been at the mercy of control structures on the exchange of goods and services for vast portion of our existence. Governments, Banks, and Insurance organizations control the flow and exchange of currency and almost all transactions. They charge for every transaction and build into that charge their profit and overhead.

[ChiBitCTy]

This topic has been brought up on the forum at least a million different times at this point.  Gold and Bitcoin are two entirely different things and comparing the two I'm not sure does much good.  I mean there's nothing wrong with comparing the two, but it's important to know that one is not a replacement for the other.

Gold is a physical precious metal, it's used for jewelry, auto-parts, electronics parts etc etc.  It's also a fantastic hedge for a portfolio, a much better hedge than bitcoin. 

Bitcoin is a digital currency.  It's not a great hedge (not yet anyhow) and it's not used for real world physical purposes.

[EL MOHA]

There is no need to explain in circles or compare them and deliberately favor bitcoin over gold. Let's be honest with each other, we prefer bitcoin because of the benefits it brings us. Profit, privacy, being our own bank... these are the reasons we will choose bitcoin over gold. Profit is probably the top priority because it is also the most prominent point when someone wants to compare bitcoin with gold. I personally own both because I need to diversify to keep myself safe since everything has risk.

Exactly the Gold doesn’t have the ROI that bitcoin possess in a very short period of time and that’s why some people go for it sometimes Instead of gold. Another reason why some people prefer the bitcoin is because with a substantial amount of Money (little amount) you can get it and also buying bitcoin and storing is a lot easier than gold. So many exchanges one can easily get it online and also many reputable wallets to help store it without third parties like banks for gold.

Aside this things I will say the best method is to diversify your portfolio and Gold is the best asset to diversify into as it provides more stability and also an hedge against inflation which is better then diversifying into fiat currency

[hatshepsut93]

The biggest advantage of gold is that it has thousands of years of history behind it, and we know that unless its supply suddenly becomes overflooded, it won't drop in value much. But Bitcoin's value is not understood by anyone, it goes up and down, and so far the long-term trend has been positive, but it could just as easily reverse. To put it simply, Bitcoin is many times more risky than gold. That's why Bitcoin is not a reliable store of value right now, but rather a high risk investment.

[Blitzboy]

The "tangibility", of gold, is a mixed blessing, as you put it. Yes, instant recognition boosts confidence.  However, most people cant securely store much gold. Bank vaults? This reliance reduces decentralization. Home storage? What a recipe for insomnia.  Bitcoin, though ethereal, may now be safeguarded by cryptography. A hardware wallet and a secure seed phrase provide unmatched financial sovereignty - the kind of "tangibility" that matters today.

For those without bitcoin, its transitory. The internet was originally considered a craze. Bitcoin is a revolution in value storage and exchange. Progress may challenge old-school investors with fixed ideas. Understanding will become as common as recognizing gold when the technology evolves and acceptance expands.  Will the naysayers adjust swiftly or be left behind clutching their bullion while the world marches on?

[pinggoki]

The biggest advantage of gold is that it has thousands of years of history behind it, and we know that unless its supply suddenly becomes overflooded, it won't drop in value much. But Bitcoin's value is not understood by anyone, it goes up and down, and so far the long-term trend has been positive, but it could just as easily reverse. To put it simply, Bitcoin is many times more risky than gold. That's why Bitcoin is not a reliable store of value right now, but rather a high risk investment.

I doubt that an overflow in gold supply would make it less valuable than it already is, humans are shiny loving goblins so I don't think that gold being a shiny metal would ever be a thing that would be of less value to a human. Definitely the thousands of years of history is a helpful in establishing gold as better than bitcoin but given the value and potential that's on bitcoin in just a decade, it's not a bad idea to consider bitcoin as a better investment than gold. Bitcoin might not be a good store of value but if you're in it for the long-term, you're probably not that worried about the short-term price fluctuations.

[Solokan]

Yes, it's no surprise that in Forums there are always people discussing Bitcoin and gold and their respective advantages and disadvantages, but of course everyone will have different opinions about this.

Personally, I consider gold to be a store of value asset because investing in gold does not have much profit but the risk is not too high because there is a lot of demand for it and it always increases from time to time and also if for example the internet goes down we will still be able to sell it because gold has a physical form and of course Gold is a valuable asset and I personally also invest in gold, even if only a little.

However, for me, Bitcoin is a valuable asset whose price will have the potential to rise in the future because the number of Bitcoins is limited and there are many interested people, but I personally also invest in Bitcoin because in my opinion, in the digital era like now, it would be a shame if we were not involved in Bitcoin, but of course for those who are ready to take the risk.

Bitcoin for me has many benefits because we can make a lot of profit from investing in Bitcoin, but the risk of investing in Bitcoin is very high because the price fluctuates and sometimes if there is negative news the price always goes down so in essence the risk is high but the benefits are also high because it can produce big profits. .

So the point is to buy Bitcoin you have to use money that is ready to be lost, but if you buy gold, of course you can use any money, as long as it's your own our money.

[rodskee]

If you are comfortable with volatility, then go with Bitcoin, and if you prefer stability, then go with gold.

right , it is depending on how we wanted our money goes on either to gold or to bitcoin
it is our choice  and our obligation to our own money.

I think Bitcoin can be suitable for either short or long-term investments depending on your investment goals. You can take profits by buying and selling, but of course, we know that this comes with risks and requires careful attention.

same strategy in gold, a friend of mine is buying and selling Gold and yes this is her bread
and butter because he is buying all the auctioned gold in pawnshop(for cheaper price of course)
and yeah she i selling into much higher price.

If you simply want long-term wealth preservation, then gold is the way to go. I only have Bitcoin because I prefer its advantages over what gold offers. And I am aware of its cons.

but we can also use bitcoin for long term mate, we have seen that over the years so why
not try them both in long term preservation .

[Ahli38]

Both of these things are actually superior in their respective areas. I mean Gold is very superior in the physical world. And Bitcoin is very superior in the digital world. We know that our daily lives are actually never separated from Gold. Even the components in our gadgets also contain gold, the same goes for cosmetics and so on. And gold has the advantage of still being able to be bought and sold even if one day the internet goes out. But the drawback is in terms of storage and shipping. Imagine if we were to send gold worth 1 million dollars to another country. So it requires quite expensive costs. And we will also feel anxious during the trip. And the risk of getting lost in transit or something like that. In contrast to Bitcoin, which is very superior in the digital world, such as being practical for payments and sending between countries. Transactions are transparent and free from the risk of counterfeiting. Good for long-term investment and also easy to buy and sell without having to go anywhere, you only need an internet connection and we can connect with every buyer anywhere. The only downside is that if the internet goes out then... well you know the answer. Although some say they can send it via other methods. But still without the internet it would be a real downfall. And actually that's the only thing I'm afraid of. So I don't invest entirely in bitcoin or digital assets, I divide it by also investing in physical assets.

The problem is that they are both objects of value just that Bitcoin is physical and gold has a representation in the stock market you look at gold has a financial history even before the introduction of money gold was used as money then, so gold will continue to standout when it comes to finance, and some countries even use gold in their country reserve, and I don't think bitcoin has gotten to that extent yet. and true gold is used for pieces of jewelry and others so if you look at the financial market gold is dominating very well. if not now that Bitcoin is gaining more ground people do not take Bitcoin seriously, especially in countries. and people don't scam gold since it is not associated with the internet it has saved gold from scam issues compared to Bitcoin so the way gold has its advantage the same way that it also as its disadvantages because you can also get rubbed and it can not be tracked. and if anyone is considering what to invest their money in then bitcoin and gold are not a bad idea to consider.

Yeah right. And as you said that investing in both is not a bad choice which means it is a pretty good choice. It's just that I prefer if I buy gold not for investment but I do it to maintain the value of the assets I own. Because even though gold seems to have an increase in price from time to time, it actually takes quite a long time. But one of the advantages of gold is that they can maintain their value very well over time. Even gold can be said to be resistant to inflation. Gold also fluctuates but it's not that big. Maybe this could also be more valuable than gold compared to Bitcoin. In essence, I like both. Bitcoin excels in digital matters and practicality. Meanwhile, Gold excels in physical assets and in maintaining value.

[dimonstration]

An advantage of gold:

Gold is a tangible physical thing and instantly recognized by anyone in the world as something that has value.
There is no need to explain it because even the most poor and uneducated among us instantly recognize that gold is something that has value.
You might say gold has an intrinsic value and universally recognized with no need for explanation.

On the other hand many people do not even understand  what bitcoin is or why it has value. It is something that has to be explained constantly to people.
Even after explaining there will always be those who will never get it even if they are otherwise very intelligent people. For example:  Charlie Munger and Warren Buffet.

I considered this feature as a disadvantage considering how twisted the criminals here to something that has a tangible value. It's very hard to hold and secure these kinds of assets here unlike Bitcoin where you can be rich silently without having the danger of someone stealing your physical assets that have value. Now that we are digitally aged, we don't give important much whether our asset is tangible or not since there's already a lot of liquidity available on crypto that is locked via smart contract.

Bitcoin will always be better than gold for me due to its unique way of valuation.

[Smack That Ace]

There is no need to explain in circles or compare them and deliberately favor bitcoin over gold. Let's be honest with each other, we prefer bitcoin because of the benefits it brings us. Profit, privacy, being our own bank... these are the reasons we will choose bitcoin over gold. Profit is probably the top priority because it is also the most prominent point when someone wants to compare bitcoin with gold. I personally own both because I need to diversify to keep myself safe since everything has risk.

Exactly the Gold doesn’t have the ROI that bitcoin possess in a very short period of time and that’s why some people go for it sometimes Instead of gold. Another reason why some people prefer the bitcoin is because with a substantial amount of Money (little amount) you can get it and also buying bitcoin and storing is a lot easier than gold. So many exchanges one can easily get it online and also many reputable wallets to help store it without third parties like banks for gold.

Aside this things I will say the best method is to diversify your portfolio and Gold is the best asset to diversify into as it provides more stability and also an hedge against inflation which is better then diversifying into fiat currency

Yes, stable gold does not give high returns but it is definitely the best option if someone wants to find a safe haven for his assets.

As I said above, there are many reasons for us to choose bitcoin instead of gold or any other form of investment, but profit is still what we care about most. And everything has its pros and cons, nothing is absolutely perfect, so if we choose bitcoin, there is no need to badmouth gold and flatter bitcoin.

Just like many people are still using fiat money on a daily basis and it would be almost impossible for them to survive if they stopped using fiat money, but they go on the internet to badmouth and call out fiat as bad just because of the appearance of bitcoin. I wonder, if in the future there is a currency that is better than bitcoin and brings more benefits than bitcoin, will these people turn around and start talking bad about bitcoin?

[Yatsan]

Pros? Widescale usage or acceptance in comparison with Bitcoin wherein few countries are recognizing its usage as a digital currency. Another is with market price volatility; obviously, the market value of Bitcoin moves more in a more random manner than with Gold which is a bit stable on its current market price. Both are profitable in the long run but with market price direction, then Gold is more often in upward direction, but of course decline on its price could still take place. Cons? convenience. You cannot obviously pay anytime with Gold also its market value doesn't move that much which makes profit not as big with Bitcoin investment.

The biggest advantage of gold is that it has thousands of years of history behind it, and we know that unless its supply suddenly becomes overflooded, it won't drop in value much. But Bitcoin's value is not understood by anyone, it goes up and down, and so far the long-term trend has been positive, but it could just as easily reverse. To put it simply, Bitcoin is many times more risky than gold. That's why Bitcoin is not a reliable store of value right now, but rather a high risk investment.

With oversupply, I doubt it would last for long. Minerals and other natural resources has limitation with natural generation. There will always a have tendency that Gold will be hard to mine given how limited resources are on this material. Bitcoin has higher risk as an asset but in exchange, it is more potent with higher returns as an asset.

[kentrolla]

It int be fair to compare Bitcoin and gold in any terms as they represent two different entities but if we have to draw a pros and cons then I would say Gold is accepted worldwide and it can be accepted at even the remotest areas of the world and it's not volatile wherein Bitcoin's adoption rate is not wider, Bitcoin is more secure as it stored digitally but for gold we need to safeguard it. This is a basic difference and I don't want to draw more reasons because the list will go on but doesn't make sense to compare these two.

[boyptc]

Pros for gold -> bank reserves are backed by currencies that have a reserve of gold too.
Cons for gold -> it is not moving a lot based on its charts, NVIDIA did better than it.

Pros of bitcoin -> Volatility and scarcity
Cons of bitcoin -> sometimes transaction fees are high when the network is clogged

[Odohu]

Those are just some of my thoughts to start the thread. For those who own both gold and bitcoin what are your thoughts?

Pros of Gold: Stability and Tangible Asset

Gold price is not that stable,  it fluctuates a lot just that the range is not as wide as that of Bitcoin. If you trade forex you will agree with me that gold is as volatile as indices such as Nasdaq and GER30. Another reason why people think gold is stable is because it has been in overall upward direction with just a few deep corrections. The fact is that it is volatile but not as Bitcoin

Pros of Bitcoin: High Growth Potential and Ease of Transfer
Cons of Bitcoin: Votality and regulatory risks

The volatility issue of Bitcoin is mainly for the short term traders, since they just want to get in and out within a short time. With a single spike most of them are neutralized already. But those with long term plans for Bitcoin do not really have any problem with the volatility. 

On the regulatory risk, we can call it risk but it also have some positive side even though I do not support it, reason being that it will destroy the privacy and anonymity that Bitcoin is supposed to eventually bring to the global financial system.

[spectre71]

Oh it's about time to do this again for 100th time.......

It's not either or situation. They both are a part of an overall portfolio.

If you are all Bitcoin, you are an idiot.. If you are all gold, you are and idiot..

The key is balancing and securing profits inside a multifaceted portfolio preferably with tax advantages like an IRA.

[|MINER|]

Both are valuable.But gold is more popular among general public. Because gold is more in circulation. Many people are not familiar with BTC. They think if they invest in BTC, they will lose their money.They don't think bitcoin is trustworthy. But it is wisest to invest in it.Because the price of gold decreases a bit when selling it.But there is no harm in investing in BTC. If the price increases, it can be sold at several times higher price.Investing in BTC during a bull run is likely to be more profitable.In terms of investing, BTC should be invested first, then land.Then comes the topic of investing in gold.

[BTC_Dragon]

Those are just some of my thoughts to start the thread. For those who own both gold and bitcoin what are your thoughts?

Pros of Gold: Stability and Tangible Asset
Cons of Gold: Physical Storage and Lower Potential Returns

Pros of Bitcoin: High Growth Potential and Ease of Transfer
Cons of Bitcoin: Votality and regulatory risks

Above are simplest the pros and cons of both gold and Bitcoin.

This is more or less what I was going to say.

The volatility of BTC is still at turn off to many.

When in doubt, simply zoom out.