Better Money: Gold, Fiat, Or Bitcoin?

[leonair]

It depends on which country you live in. FIAT money is subject to inflation which causes its value to gradually decrease.  But inflation rates are not the same in all countries. If you live in the United States where the local currency is the dollar, you can hold FIAT money and the value of your money will not decrease much. But if you want to get profit along with this then you can invest your money in both gold and bitcoin assets but investing in gold has low risk while investing in bitcoin has high risk. So how much risk one is able to take depends on who is comfortable with which FIAT, GOLD or Bitcoin

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[serjent05]

I'm not sure why you need to trust words that come from Boomers?

They have more experience than the new generation, they experienced hard times and have proven their expertise.  If asked which one would I consider, I would consider  the suggestion of people who have enough experience in life than people who are just setting up to test the waters.

We're in different generations, they see investment is tangible asset, that's why they own real estate and gold.

Not all boomers are close minded, there are also many of these generation who are open-minded and is able to accept the changes in their environment.

While the current generation is full of technology, we can chit-chat using cellphone instead of envelopes, we can read news in cellphone instead of newspaper etc. And now we have Bitcoin, something that decentralized and intangible, if there are still many young generation didn't trust in Bitcoin, how about Boomers?

According to the internet baby boomers' age range from 57 to 75 as of this year 2024, I would be convinced to believe in you if we can't find people in this age range that are into Bitcoin.


In the mind of a freedom-lover person, nothing beats Bitcoin being a better money because it conveys freedom of transaction and can't be hinder its transfer by any third party authority as long as the transaction is made via P2P.  While others who have different perspectives can choose the other option.  In short, the answer to the question about which one is the better money will always be subjective.

[Cryptomultiplier]

Obviously, today's price is the best predictor and that's a fact when we ponder on the price of BTC after 24hrs trading day. Even with fiat, it can only continue to be a better option for daily and international transactions, if government policies and the law is very efficient and judicious in carrying out there due diligence.

One thing also is that Bitcoin and gold right now wants to be controlled by the government and it is already being regulated. The investors or owners of BTC are taxed just as much as they can also use it to pay their taxes, and this is a requirement before it began to being accepted in many countries including Argentina and Malaysia of whom are just getting onboard like other countries like Lugano and El Salvador. It is taxed more than fiat which is being seen as an asset, while Bitcoin and gold are seen as commodities.

[Yatsan]

Depends on how will it be used. If it is for daily transactions then fiat would always be considered by more people given that not everyone are interested with blockchain technology. Also, transaction fees are still high at this point. Not to mention how volatile Bitcoin's market price as well, which could be a problem in particular with balance and stability of marketable goods' price. With gold, it is much better as an asset to be held for years. The long debate on which currency should be more used between Bitcoin and Fiat, should long be answered. I believe that these two would better just co-exist as modes of payment than to only pick one. Both has its own advantages and I guess this should settle it.

It depends on which country you live in. FIAT money is subject to inflation which causes its value to gradually decrease.  But inflation rates are not the same in all countries. If you live in the United States where the local currency is the dollar, you can hold FIAT money and the value of your money will not decrease much. But if you want to get profit along with this then you can invest your money in both gold and bitcoin assets but investing in gold has low risk while investing in bitcoin has high risk. So how much risk one is able to take depends on who is comfortable with which FIAT, GOLD or Bitcoin

Depends indeed on what country you reside. Bitcoin has been introduced for more than a decade and yet people still are not convinced to patronize it or make use of it the way they uses fiat. Much better if we will just use based on our preferences than to push the idea to all people we have no control of, in the first place.

[peter0425]

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.

🤦‍♂️

Quite an unfair comparison. One is a local currency issued by the government itself and the other two are assets in which you can invest in.

Both fiat and investment are important. In today’s age I don’t think you can pick just one. Having fiat only and no investment might put you into some economic trouble in the future and not having any fiat will surely not help you either. It depends on the context really

[iv4n]

"It can be higher, it can be lower..."... I can't say that I heard anything new in the 10 or so minutes that I listened to. We have been hearing the same things for years, never enough stories from so many experts around... and as far as the action is concerned, Bitcoin proved to be unmatched, breaking records every few years. The conclusion is simple according to some of my thinking, people (experts) will continue to talk about anything and everything. Some will be too optimistic, some pessimistic, and Bitcoin will slowly continue to conquer the world and gain value over the time.

[harapan]

these three instruments have their respective advantages and disadvantages, so we cannot conclude which is the best or the worst because all three have their respective uses. bitcoin has better performance compared to the three, but its value fluctuates. as for gold, it is suitable for use as a stable investment but is inefficient for use as a daily transaction. lastly for fiat, it can easily be used for everyday transactions, but its supply can be manipulated and its value is closely tied to economic and political conditions. all three have their own characteristics and depending on the individual they can say that bitcoin is better than those three, or gold, or fiat.

That's true,they're all money,yes,and they serve as a means of exchange or payment irrespective of where and how people see it,and you can't change that fact.
Although bitcoin and gold have the same similarities,bitcoin portrays an undeniable element of security compared to gold.But I prefer bit coin serves as a better version of what money is called.
  Honestly,I don't think this comparison is necessary,there's no bad one amongst them,expect that they have their own lapses and malfunction occasionally.

[WillyAp]

All money is basically good.
You can fed yourself, pay your dentist and all that.
It does not matter as long as you own from each value more than enough.

[red4slash]

We too often discuss and compare things like this where we only always focus on which one is better than some benchmarks that we think are good as if it is an important part that must be found the answer where when one of the ones we compare gets positive things it will be considered the best and the other is bad.

We've gotten to the point where we're just always comparing each other but don't realize that it doesn't really matter because every view is a matter of perspective and it's up to each person to say whats best because everyone has their own arguments. I actually see quite often and quite bored too where bitcoin is always a comparison with real estate gold or other valuable assets as if it is worth comparing and seeing which one is the best when if we look at the further side as long as they are useful when it is all very good it just depends on the perception we see because all have their own advantages .

[bitzizzix]

Gold is a good investment compared to paper money or fiat, but when compared to Bitcoin, Bitcoin is much better than both.
And the great thing about having all three, fiat is an important need that we still use to be able to meet our needs as a transaction tool if Bitcoin is prohibited from being used as a transaction tool, and money can be saved for sudden needs or used as an emergency fund.
However, gold is a more stable investment and the price does not fluctuate like Bitcoin, and in terms of profits, Bitcoin is much better and bigger than gold. And indeed Bitcoin has a big risk because of its fluctuating nature, but if we treat it in the long term, in my opinion there is no risk whatsoever. Because we only buy and buy when prices are cheap and sell again when prices are high, and without caring about time because it is long term. And Bitcoin's long-term track record has always provided satisfactory results compared to gold because it is very stable.

[m2017]

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

Gold has not served as money for quite some time. Money lost its link to gold around the middle of the last century (1942). Bretton Woods system replaced Gold standard.

Bitcoin didn't have time to assume the role of “money” and turned into an “investment” asset. The share of bitcoin used as money is negligible and ridiculous. It is still very early to call bitcoin money (if such a thing ever happens).

Of these three “moneys” listed, only fiat is truly money.

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

🤦‍♂️

I have reason to believe that the price of bitcoin will always differ unpredictably from the present one.

[doomloop]

It depends on which country you live in. FIAT money is subject to inflation which causes its value to gradually decrease.  But inflation rates are not the same in all countries. If you live in the United States where the local currency is the dollar, you can hold FIAT money and the value of your money will not decrease much. But if you want to get profit along with this then you can invest your money in both gold and bitcoin assets but investing in gold has low risk while investing in bitcoin has high risk. So how much risk one is able to take depends on who is comfortable with which FIAT, GOLD or Bitcoin

Risk is not alone but there must also be a catch with it like for example gold is you said low risk but the catch is that the profits that we can get on here is also much lower compared to a high-risk asset like BTC. There are people who watch out for the risks before they invest and ensures that they can only lose less, while some look directly on how much profit they can get.

Even though both are still taking a risk but the second/last one I said must be the real definition of a risk taker. Gold and BTC isn't the only way to earn money but we can also put our fiat money on something like a bank. We can also do the same in lending platforms. In the online world, specifically in crypto, there is also what we called as staking and obviously, we need to convert our physical fiat first into a digital one or stable coin before we get started.

[STT]

The US abandoned the gold standard in 1971 because they didn’t have a choice.

The choice was to reduce spending and repay debt as required, that means a budget surplus which is hard for any country to do.  The choice made was sound money was no longer useful to a country with a dominant position.  The origins of the gold standard was when USA was still a new country, in recovery from 2 major wars including the civil war as well as actually settling a large continent with few people at the time so sound money was required not optional.

[BD Technical]

All three things are related to your investment because you can criticize here if you can invest and you have to learn these things to achieve success.  Nothing can be successful without running. In case you are studying, you have to do your learning.  We know you will miss out on everything because if you don't invest you will never make it but no matter what Riyad or Bitcoin says you have to invest.  But anyway, many people are not faithful in these matters, many people believe in cash or even if they invest their money or their money in many areas, they do not like their risk.  But I think actually everyone is everyone's activities or everyone is on everyone's platform, they are valid or they are right according to them.  But invest always brings success.

[Zanab247]

To me, the 3 are very important to humanity and they have played a good role to improve people investments, and people are still willing to use them at any time to achieve their goal.

If you ask me the one I prefer among the 3, is BTC because I started using it some years ago and I have seen reason why is better than fiat and gold, BTC is a decentralized currency that is not control by the government, and it add value to those that is using it for short or long term investments.

If you hodl your fiat in the bank or hodl gold like 5 years before you can withdraw them to use the money, you will not earn what BTC hodler that hodl like 5 years will earn which is the reason I prefer BTC than fiat and gold.

[OrangeII]

if we discuss the medium of exchange, then I think fiat is the most suitable medium of exchange used currently in real life. That's why almost all countries have their own fiat. However, if it is an investment then I choose gold and bitcoin. Even though Bitcoin can be used as an alternative payment, I think it would be a shame to use an asset that has the potential to be exchanged for something. well, it doesn't matter if you have a lot of bitcoins, but if I have fiat, I will use fiat as a means of payment.

[legendbtc]

To me, the 3 are very important to humanity and they have played a good role to improve people investments, and people are still willing to use them at any time to achieve their goal.

Indeed, all 3 are important and have their own use cases, so I will choose all 3. Bitcoin is used for investment because of its huge growth potential, gold can be considered the best safe haven because of its stability, while fiat currency is used for necessities daily. Why do we always have to compare them when we can have all three?

If you ask me the one I prefer among the 3, is BTC because I started using it some years ago and I have seen reason why is better than fiat and gold, BTC is a decentralized currency that is not control by the government, and it add value to those that is using it for short or long term investments.

If you hodl your fiat in the bank or hodl gold like 5 years before you can withdraw them to use the money, you will not earn what BTC hodler that hodl like 5 years will earn which is the reason I prefer BTC than fiat and gold.

BTC will be the priority of the majority of people, the biggest reason is that everyone needs money, everyone wants to have a lot of money and bitcoin is the asset that can meet that for us. Profit is what many of us aim for when choosing bitcoin, IMO.

[STT]

The other perspective to this is not rely on your own opinion of each asset you might hold but check you know the desire of your trading partner.

If you want to buy something from people who make a required product  or own it then you must exchange something of worth to them.  If China and India both value gold for many decades and into the future then gold is money quite easily and they may not want the alternatives you value.