Better Money: Gold, Fiat, Or Bitcoin?

[Adiljutt156]

BTC,gold is definitely better than money. Because the value of cash is decreasing day by day. It is very risky. But if one invests money in bitcoin or gold, the value of money will increase day by day. We all know how profitable investing in bitcoin is.  And how much profit it guarantees. And those who don't know much about bitcoin will definitely want to invest in gold. It is also profitable, but there is some harassment when selling gold.

For most people who don't understand what bitcoin is, I don't think they believe that it can make money, they only trust gold to store it. According to them, if there was an increase, they would definitely say it was a profit. In fact, the increase in gold was not very significant. If they understand or understand what bitcoin is, I think they will definitely switch their investment asset choice from gold to bitcoin, which is much more profitable in the very long term. Fiat is valued by society because it is our transaction tool for daily needs. However, the fact is that many people do not know that its value will continue to shrink or decrease from day to day due to the impact of inflation.

From the explanation you gave, I can conclude that Bitcoin is better than gold and fiat. Because bitcoin is able to overcome the shortcomings of both, bitcoin is here to perfect what gold and fiat do not have. Fiat loses value due to inflation, gold for investment but the increase is not as big as bitcoin.

In essence, this comparison makes it clear that the concept of Bitcoin is much more perfect than Fiat and Gold as a store of value and a better future for transactions. Gold and Bitcoin are both valuable assets, gold because of its physical properties while Bitcoin because its supply and users are limited. Basically, gold can be considered a store of value rather than a practical means of exchange because gold has weaknesses such as being heavy and difficult to carry, of course this is an obstacle. In contrast to Bitcoin, Bitcoin has the potential to become a transaction tool that is widely used anywhere and at any time and is more practical. So in conclusion, Bitcoin is the best money, even though currently we still have to use fiat because there are no other options for transactions in everyday life.

Is this a fair comparison and assessment? When I just see you guys constantly bringing up the downsides of fiat money and gold, and giving all the flattery to bitcoin. Gold does not bring higher returns than bitcoin but it is safer and more stable than bitcoin, it does not get dumped 70%-80% in just a few months. Gold is bulky so storing and moving around can be difficult at times, but bitcoin also has associated risks such as being hacked, forgetting the seed phrase, and how can we use bitcoin without internet?...No asset is perfect, and each asset is used for different use cases. Even though we are bitcoin investors, we don't need to exaggerate bitcoin and badmouth other assets, because that doesn't make bitcoin any better.

I agree with you . I see many people who did the same thing as you said. They are describing more more benefits of Bitcoin,gold and fiat money. But I think,every form of currency is good but it matters a lot where it is being used. Gold is safe investment and you can liquefy it in a few minutes and that is safe because no one can hack or steal this in ordinary conditions. Fiat Money is good because you should store money for the emergency. If an accident happens with a person of your family,you can help your family on a time . In this way ,fiat money is also good.Bitcoin is good because you can get multiple returns on your investment in future.

[batang_bitcoin]

The author speculates and that's fine because it's in the description of Bitcoin. Fiat is fine, we need it and still uses it up to this point and I think we'd be gone first before fiat's gone. Gold is fine as an asset but not as a money. Bitcoin obviously is in best shape and can be in both categories and that's why we understand the importance of it and why we're holding it. Compared to boomers, all they know is invest on this and there and don't invest to new assets.

[bSpend]

Listen what this Austrian Economics / Mises Institute author of a book titled Better Money: Gold, Fiat, Or Bitcoin? says here:

https://youtu.be/g7vI957pg7U&t=2597

I don't see any reason to think that the price of Bitcoin is going to be predictably higher in the future.

🤦‍♂️

And to be honest with you, I also don't see any reason why this comment should be getting a thumbs down from you, it's important for us to understand that the crypto market is a free one, predicting the future price of bitcoin is completely free and each and every one are at liberty of stating their minds/what they think the future price of bitcoin would be.
While I realistically believe that the price of bitcoin will be incredibly more expensive in the future, I believe that there is nothing wrong if I come to say that the price of bitcoin will fall back to $1000 in five years to come, it's my opinion and I expect ya all to respect it, if in the future, it turned out that the price of bitcoin continued to grow, far from what I predicted, it's my shame and me alone will bear it.

So, let's learn to respect people's opinion when it comes to predicting the price of any cryptocurrency, their opinion doesn't drive the market and thats what we should be thankful of.

[slapper]

~snip~

Is this a fair comparison and assessment? When I just see you guys constantly bringing up the downsides of fiat money and gold, and giving all the flattery to bitcoin. Gold does not bring higher returns than bitcoin but it is safer and more stable than bitcoin, it does not get dumped 70%-80% in just a few months. Gold is bulky so storing and moving around can be difficult at times, but bitcoin also has associated risks such as being hacked, forgetting the seed phrase, and how can we use bitcoin without internet?...No asset is perfect, and each asset is used for different use cases. Even though we are bitcoin investors, we don't need to exaggerate bitcoin and badmouth other assets, because that doesn't make bitcoin any better.

Gold is physical, centuries-old, and inflation-resistant. However, carrying a gold bar to buy coffee is inconvenient. Bitcoin is fresh but could disrupt. Borderless, decentralized, and offering financial independence that existing systems can't match. I don't recommend one over another. All about diversity. Mixing assets in your portfolio is good

Sure, there are risks with bitcoin. Lost wallets, hacking, etc. But look, with any new technology, there are always growing pains. We secured our bank accounts, now we'll secure bitcoin. How they fit into your financial strategy is more important than which one is best. Gold is like insurance; your crisis shelter. Bitcoin can lead to huge gains

[bangjoe]

Listen what this Austrian Economics / Mises Institute author of a book titled Better Money: Gold, Fiat, Or Bitcoin? says here:

https://youtu.be/g7vI957pg7U&t=2597

I don't see any reason to think that the price of Bitcoin is going to be predictably higher in the future.

🤦‍♂️

And to be honest with you, I also don't see any reason why this comment should be getting a thumbs down from you, it's important for us to understand that the crypto market is a free one, predicting the future price of bitcoin is completely free and each and every one are at liberty of stating their minds/what they think the future price of bitcoin would be.
While I realistically believe that the price of bitcoin will be incredibly more expensive in the future, I believe that there is nothing wrong if I come to say that the price of bitcoin will fall back to $1000 in five years to come, it's my opinion and I expect ya all to respect it, if in the future, it turned out that the price of bitcoin continued to grow, far from what I predicted, it's my shame and me alone will bear it.

So, let's learn to respect people's opinion when it comes to predicting the price of any cryptocurrency, their opinion doesn't drive the market and thats what we should be thankful of.

Everyone has their own perspective on things, and it cannot be intimidated by anything because someone has the right to have an opinion however they want and however they want, including people who talk about bitcoin, some of us are optimistic and some of us are pessimistic and some of us are skeptical about bitcoin price movements, and they can speculate about bitcoin.
For me personally it will be very possible for bitcoin to experience a higher price increase than the current price, in view of the low adoption of bitcoin and only a small number of people who enter buying bitcoin, it is likely that when many people enter bitcoin it will allow bitcoin to be much better in price.

I also don't have confidence that bitcoin will fall deeper like the numbers you mentioned, but I don't throw it in my mind, because we don't know what the future of bitcoin will be like.

[isabellajones]

Gold, fiat currencies and bitcoin, all three are at high levels, there is any not bad by any means. Gold is not very good for investment, gold is a stable investment, which does not give us much profit, there is no shortage of gold in the world, there will be no shortage of hearing when future gold mines come out, due to which the price of gold may decrease in the future. That is, there is no shortage of gold, but there is a limit for bitcoins, the total supply of bitcoins will be 21 million, that is, the total supply of bitcoins will not exceed 21 million bitcoins in the world, and Bitcoin has already reached over 19.5 million in supply, that is, the price of bitcoins will definitely increase in the future. This means that bitcoin investment is going to be a profitable investment, and besides, people of today prefer to invest more in crypto, for this we do not need any separate place, we can keep bitcoins through our smartphone or computer, which is very safe.


In addition, fiat currency is the easiest means of shopping for the essentials of daily life, currently most of the people of the world buy the essentials of daily life with fiat currency.

Here we can say that all three things are good, we cannot say less than any of them. But still I would say that bitcoin and fiat currencies are above gold.

Bitcoin has high returns, ETH is stable, each has its own advantages and disadvantages

[CoinMin3r]

Gold is physical, centuries-old, and inflation-resistant. However, carrying a gold bar to buy coffee is inconvenient. Bitcoin is fresh but could disrupt. Borderless, decentralized, and offering financial independence that existing systems can't match. I don't recommend one over another. All about diversity. Mixing assets in your portfolio is good

Sure, there are risks with bitcoin. Lost wallets, hacking, etc. But look, with any new technology, there are always growing pains. We secured our bank accounts, now we'll secure bitcoin. How they fit into your financial strategy is more important than which one is best. Gold is like insurance; your crisis shelter. Bitcoin can lead to huge gains

Yeah gold is evergreen commodity everybody prefer for investment even for long long time.And its value also goes up with time means almost no loss but can get more price if one want to sell in future. But it have one problem that one can never go shopping taking gold bars.

On the other hand bitcoins have established itself as digital gold one can own as investment. People can hold bitcoin in their convenient wallet and spend anytime, anywhere and as little as they want. Its value too increase with time giving high percentage of ROI.

Conclusion is, physical gold and digital gold both are good in their respective place.

[STT]

Gold doesnt need to be carried to settle a coffee bill, you can just use it like a settlement payment method on a card as normal.  That is already done alongside similar systems for Bitcoin apparently.

The payments can be settled with a monthly account.  People are most used to that where its a credit card and the bill is settled in cash or left on credit to accrue interest.   It is also possible to settle such a bill in gold or a variety of other assets in exchange.

[aylabadia05]

And to be honest with you, I also don't see any reason why this comment should be getting a thumbs down from you, it's important for us to understand that the crypto market is a free one, predicting the future price of bitcoin is completely free and each and every one are at liberty of stating their minds/what they think the future price of bitcoin would be.
While I realistically believe that the price of bitcoin will be incredibly more expensive in the future, I believe that there is nothing wrong if I come to say that the price of bitcoin will fall back to $1000 in five years to come, it's my opinion and I expect ya all to respect it, if in the future, it turned out that the price of bitcoin continued to grow, far from what I predicted, it's my shame and me alone will bear it.

As long as we still promote positive thinking by considering things without negativity, the world will be very peaceful. There is no war between countries. It should be like that, but in reality we seem to be forced by circumstances to reject every different thought. If you come with such thoughts, I will raise my hand to you in respect.

For us, when we think that the price of Bitcoin will be expensive in the future, it is not necessarily true that people who recognize gold will agree with our thoughts regarding the future of Bitcoin.
Well, pay attention to how someone defends their idea of ​​gold or Bitcoin, but the thought behind it is that we drop it.
You are wise in judging this, but not everyone can position themselves as wisely as you think.

[South Park]

Gold doesnt need to be carried to settle a coffee bill, you can just use it like a settlement payment method on a card as normal.  That is already done alongside similar systems for Bitcoin apparently.

The payments can be settled with a monthly account.  People are most used to that where its a credit card and the bill is settled in cash or left on credit to accrue interest.   It is also possible to settle such a bill in gold or a variety of other assets in exchange.

But the moment you allow such a proxy to be used instead of the real thing, then you allow for its manipulation and the fiat system to appear again, so if the are are a few people out there pushing for gold and silver to become the dominant way to transfer value around the world, we have no other option but to use physical coins for our purchases, otherwise governments will once again cheat the gold standard and bring forward the fiat system they like so much.

[_BlackStar]

-snip-

Everyone has their own perspective on things, and it cannot be intimidated by anything because someone has the right to have an opinion however they want and however they want, including people who talk about bitcoin, some of us are optimistic and some of us are pessimistic and some of us are skeptical about bitcoin price movements, and they can speculate about bitcoin.

Of course - but no one expects anyone including you to talk about something like bullshit. Feel free to express your opinion - but make sure you always stay on track where what you are talking about remains constructive in any case. I know that not everyone really understand economic issues or something like that - some of them just make things up, some of them never even know what they are talking about.

For me personally it will be very possible for bitcoin to experience a higher price increase than the current price, in view of the low adoption of bitcoin and only a small number of people who enter buying bitcoin, it is likely that when many people enter bitcoin it will allow bitcoin to be much better in price.

I also don't have confidence that bitcoin will fall deeper like the numbers you mentioned, but I don't throw it in my mind, because we don't know what the future of bitcoin will be like.

Fiat, gold and bitcoin are means of payment - but each has its own market. In traditional economic life – fiat is king, gold is a commodity, while bitcoin is the alternative. You can use fiat anywhere - you can also sell gold or use it as a means of payment anywhere, but in some countries you are prohibited from using bitcoin as a legal tender.

The demand for bitcoin will continue to increase over time - it will become more popular among the public year by year. Adoption can be expected to be the best fundamental for hoping for a better future - but of course adaptation to its use cases still has to be patiently expected. Prices will always fluctuate - that is an inherent thing.

[mv1986]

~

Fiat, gold and bitcoin are means of payment - but each has its own market. In traditional economic life – fiat is king, gold is a commodity, while bitcoin is the alternative. You can use fiat anywhere - you can also sell gold or use it as a means of payment anywhere, but in some countries you are prohibited from using bitcoin as a legal tender.

The demand for bitcoin will continue to increase over time - it will become more popular among the public year by year. Adoption can be expected to be the best fundamental for hoping for a better future - but of course adaptation to its use cases still has to be patiently expected. Prices will always fluctuate - that is an inherent thing.

"...but each has its own market..."

That's by far the best answer I read in this thread. If someone is a Bitcoin whale and wants to pay a car or a house with Bitcoin where fees are insignificant, that someone might say that Bitcoin was the best money for that specific situation.

If someone wants to pay for a coffee and incurs $20 transaction fees on that day, surely Bitcoin is not the best money for that specific use case.

If someone wants to take cash with them on vacation, Gold is trash, cash can be trash if it is too much as the hassle at the airport is huge, and Bitcoin is simply invisible and essentially limitless in amounts. I often like to say that when it comes to mobility, Bitcoin is the best ever. You can take any amount with you without having to go through any hassle and chances are high you are able to convert it in many countries. I am not fully aware about the current distribution of Bitcoin ATMs globally, but for me it already worked out very well a couple of times.

As you said: each has its own market and it is very use case dependent.

[OrangeII]

The author speculates and that's fine because it's in the description of Bitcoin. Fiat is fine, we need it and still uses it up to this point and I think we'd be gone first before fiat's gone. Gold is fine as an asset but not as a money. Bitcoin obviously is in best shape and can be in both categories and that's why we understand the importance of it and why we're holding it. Compared to boomers, all they know is invest on this and there and don't invest to new assets.

Yes, almost everyone realizes that these 3 things have their respective advantages. However, when asking about money, we most often use Fiat. However, gold and bitcoin also have their respective advantages depending on their function. It's just that, nowadays, I very rarely see people making transactions using gold, because it is physical, and has a high price. As for bitcoin, I think it can be used as an alternative payment, or even an investment tool.

[Taskford]

The author speculates and that's fine because it's in the description of Bitcoin. Fiat is fine, we need it and still uses it up to this point and I think we'd be gone first before fiat's gone. Gold is fine as an asset but not as a money. Bitcoin obviously is in best shape and can be in both categories and that's why we understand the importance of it and why we're holding it. Compared to boomers, all they know is invest on this and there and don't invest to new assets.

Yes, almost everyone realizes that these 3 things have their respective advantages. However, when asking about money, we most often use Fiat. However, gold and bitcoin also have their respective advantages depending on their function. It's just that, nowadays, I very rarely see people making transactions using gold, because it is physical, and has a high price. As for bitcoin, I think it can be used as an alternative payment, or even an investment tool.

Go with fiat since this is useful currency to use on every transaction we made in real life since we need this currency to buy important stuff to live without having any problems. But if we talk about investment stuffs and other more than that then for proper security and somehow can also be consider as safe haven then go with gold since this will give us better profit, the price of this asset is rising and provably we could see it more. But for some risky valuable stuff and also a great choice then bitcoin is good with that but we need proper knowledge with this since we can only earn if we know how to deal with certain situations happen on bitcoin.

Overall with need all of this since if we can able to maximize those 3 assets usage then provably it will give us more better result compare if we became addicted to particular and erase the thoughts to try the other asset since we threat this as risky to go with.

[mamesso]

Gold, Fiat and Bitcoin have their respective advantages and disadvantages, everyone has different reasons for choosing an instrument for storing money. If someone has no knowledge in the field of Cryptocurrency, perhaps they will consider gold as an asset worth buying.
The usefulness of these three instruments depends on the person who chooses them. You cannot force someone to follow what you choose because they also have their own reasons for making their choice. So far Bitcoin is my choice, that doesn't mean I won't buy Gold, both are very profitable storage places for me in maintaining value from inflation.

[Uhwuchukwu53]

The author speculates and that's fine because it's in the description of Bitcoin. Fiat is fine, we need it and still uses it up to this point and I think we'd be gone first before fiat's gone. Gold is fine as an asset but not as a money. Bitcoin obviously is in best shape and can be in both categories and that's why we understand the importance of it and why we're holding it. Compared to boomers, all they know is invest on this and there and don't invest to new assets.

Yes, almost everyone realizes that these 3 things have their respective advantages. However, when asking about money, we most often use Fiat. However, gold and bitcoin also have their respective advantages depending on their function. It's just that, nowadays, I very rarely see people making transactions using gold, because it is physical, and has a high price. As for bitcoin, I think it can be used as an alternative payment, or even an investment tool.

Looking at the nature of how many in the society make their choice of investment  three asset has there value in various way if settling most user need as some may not have what it take to accumulate gold it Bitcoin, but Bitcoin is becoming more viral and gaining more popularity now as many choices to invest and use it though I may not be correct but the last time I checked I hardly see people transaction gold in my location compare how they are adopting BTC, but three money has there value and is subject to certain changes as one can rise above others but individual investment is centered on the choice they make .

[btc_angela]

Gold, Fiat and Bitcoin have their respective advantages and disadvantages, everyone has different reasons for choosing an instrument for storing money. If someone has no knowledge in the field of Cryptocurrency, perhaps they will consider gold as an asset worth buying.

That is correct, so investing on them depends on our risk appetite and risk aversion. But obviously, if I have to  choose only one, I will stick with Bitcoin. Been here since 2017 and it's all very good results for me. And I learn how to be mentally patience in terms of investments.

The usefulness of these three instruments depends on the person who chooses them. You cannot force someone to follow what you choose because they also have their own reasons for making their choice. So far Bitcoin is my choice, that doesn't mean I won't buy Gold, both are very profitable storage places for me in maintaining value from inflation.

Yeah, that's what I say, and I think majority here would really choose Bitcoin. Although I believed that there are individuals who's into Stocks before they join crypto space. But still though, there's nothing than be a Bitcoin holder and then seeing your portfolio grows in the bull run and making huge profits as compare to somewhat boring Stocks (no offense to those stock traders or investors).

[bangjoe]

~

Fiat, gold and bitcoin are means of payment - but each has its own market. In traditional economic life – fiat is king, gold is a commodity, while bitcoin is the alternative. You can use fiat anywhere - you can also sell gold or use it as a means of payment anywhere, but in some countries you are prohibited from using bitcoin as a legal tender.

The demand for bitcoin will continue to increase over time - it will become more popular among the public year by year. Adoption can be expected to be the best fundamental for hoping for a better future - but of course adaptation to its use cases still has to be patiently expected. Prices will always fluctuate - that is an inherent thing.

"...but each has its own market..."

That's by far the best answer I read in this thread. If someone is a Bitcoin whale and wants to pay a car or a house with Bitcoin where fees are insignificant, that someone might say that Bitcoin was the best money for that specific situation.

If someone wants to pay for a coffee and incurs $20 transaction fees on that day, surely Bitcoin is not the best money for that specific use case.

If someone wants to take cash with them on vacation, Gold is trash, cash can be trash if it is too much as the hassle at the airport is huge, and Bitcoin is simply invisible and essentially limitless in amounts. I often like to say that when it comes to mobility, Bitcoin is the best ever. You can take any amount with you without having to go through any hassle and chances are high you are able to convert it in many countries. I am not fully aware about the current distribution of Bitcoin ATMs globally, but for me it already worked out very well a couple of times.

As you said: each has its own market and it is very use case dependent.

Regarding utility, the most appropriate answer for the time being is “everything has its own market and everything has its own users” that's what I can conclude at the moment from the many comments I read in this thread.

In conclusion, everything has the right place and time in its use if it is pegged as a medium of exchange or on the same object, but speaking of effective mobility and the easiest efficiency is bitcoin, I really believe in it because I also have bitcoin pieces and I am free with the value of the money I have in bitcoin, there is no intervention there is no wealth control from anyone and only I can control it, because indeed in some countries we can exchange our bitcoin easily, but almost in all countries there must be bitcoin exchange service recipients, so what is there to fear, especially if we are on vacation in El Salvador.

[mv1986]

~

Fiat, gold and bitcoin are means of payment - but each has its own market. In traditional economic life – fiat is king, gold is a commodity, while bitcoin is the alternative. You can use fiat anywhere - you can also sell gold or use it as a means of payment anywhere, but in some countries you are prohibited from using bitcoin as a legal tender.

The demand for bitcoin will continue to increase over time - it will become more popular among the public year by year. Adoption can be expected to be the best fundamental for hoping for a better future - but of course adaptation to its use cases still has to be patiently expected. Prices will always fluctuate - that is an inherent thing.

"...but each has its own market..."

~

Regarding utility, the most appropriate answer for the time being is “everything has its own market and everything has its own users” that's what I can conclude at the moment from the many comments I read in this thread.

In conclusion, everything has the right place and time in its use if it is pegged as a medium of exchange or on the same object, but speaking of effective mobility and the easiest efficiency is bitcoin, I really believe in it because I also have bitcoin pieces and I am free with the value of the money I have in bitcoin, there is no intervention there is no wealth control from anyone and only I can control it, because indeed in some countries we can exchange our bitcoin easily, but almost in all countries there must be bitcoin exchange service recipients, so what is there to fear, especially if we are on vacation in El Salvador.

Nono, _BlackStar got it correct already. You have introduced a redundancy now.

_BlackStar said "...but each has its own market...". If something has its own market, this already implies that there are users/consumers. I know this is nit-picking, but I thought I drop this post so if you think about it, you might get the idea. A market describes an environment where at least two actors transact with each other in some way.

[Iranus]

Gold, Fiat and Bitcoin have their respective advantages and disadvantages, everyone has different reasons for choosing an instrument for storing money. If someone has no knowledge in the field of Cryptocurrency, perhaps they will consider gold as an asset worth buying.

That is correct, so investing on them depends on our risk appetite and risk aversion. But obviously, if I have to  choose only one, I will stick with Bitcoin. Been here since 2017 and it's all very good results for me. And I learn how to be mentally patience in terms of investments.

Frankly, choosing which asset to invest in depends on each person's preferences and circumstances. Since not everyone likes decentralization, not everyone is willing to take risks, or not everyone has enough technological knowledge to choose bitcoin… there are many factors for us to consider and choose which property is right for us.

I would choose the same as you and it's bitcoin, but to be honest. The reason I invest in bitcoin is because I want to get rich and I'm not someone with a lot of money, so if I choose gold I won't be able to realize my dream. But if I'm rich, I will choose gold because then my goal is to protect my assets, not risk getting rich.

The usefulness of these three instruments depends on the person who chooses them. You cannot force someone to follow what you choose because they also have their own reasons for making their choice. So far Bitcoin is my choice, that doesn't mean I won't buy Gold, both are very profitable storage places for me in maintaining value from inflation.

Yeah, that's what I say, and I think majority here would really choose Bitcoin. Although I believed that there are individuals who's into Stocks before they join crypto space. But still though, there's nothing than be a Bitcoin holder and then seeing your portfolio grows in the bull run and making huge profits as compare to somewhat boring Stocks (no offense to those stock traders or investors).

Like I said, the big profits are the reason many people will choose bitcoin. So which asset is best, which asset we choose will depend on each person's preferences and circumstances.