Better Money: Gold, Fiat, Or Bitcoin?

[Crypto Library]

Here is my opinion-
Do we know what is Fiat? I think most of us don't know what is fiat currencies  as we are seeing the traditional fiat currencies those are nothing but only a piece of paper. Always fiat currency is always valued by some other asset - such as the amount of gold reserved by the United States of America based on their fiat currency USD.
And before understanding whether it is better or not, you need to know whether the asset you think is better is actually limited. Because the value of all assets that are limited will go and increase.
On the other hand, the unlimited assets that can be created in a new way, such as fiat currency, the value of these assets will go down and against those limited assets (gold, bitcoin), information inflation will continue. So now you consider which asset will be better for you.

[coolcoinz]

What he meant was that bitcoin is unpredictable. It could go higher, or not. He doesn't say it won't, but we can't be certain of that.

 fail to see how that's different from any other asset. I guess the meaning is that fiat is inflationary, so finite resources with use cases like gold will slowly climb up in price, but bitcoin has not enough uses right now for these guys to qualify as an anti-inflationary asset.

What they fail to see is that bitcoin is one of a kind. It's money without an issuer, the first of its kind. That's the use case and that's what's going to make it anti-inflationary.

[MusaMohamed]

The bullish case for Bitcoin is a book that is very insightful and can help OP.

The author of this book needs to revise it with a fourth column for CBDC (Central Bank Digital Currency), together with Bitcoin, Gold, Fiat for comparisons.

All currencies, fiat, CBDC, gold and Bitcoin, are inflation but the rate of inflation is smallest with Bitcoin. We all won't live too long till 2140 year but after that year, Bitcoin will start to become deflationary, no more new bitcoins from Bitcoin blocks and there will be only reduction in available circulation supply after 2140 when more bitcoins will be lost by careless people.

[Zanab247]

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.

Even BTC and gold their price also dump sometimes for their hodlers to experience some changes in the market, like the way some fiat hodlers use to experience some negative changes in their exchange of goods and services.  

BTC and gold are good assets you can put your money in a long period of years  before you can sell, and it will give you double of what you have put in those assets, which many people still prefer them in some countries that alone their citizens to use them to improve their businesses in their countries.

BTC is the best among all, if they ask me to choose one among the 3, which I will prefer BTC because it allow their hodlers to make a good profits during bull run, and you can buy from market today in the bear run, and bull season can occur the next day which is the reason those that know BTC, they will prefer to hodl BTC than any other assets.

[harapan]

We need fiat and there's no doubt about that but the world is changing and innovating so, with the acceptance of many countries with Bitcoin. There's a possibility that digital apps provided by banks might have a portion on their wallets by depositing Bitcoin on it.

And then, you can spend directly it with everything just like with the common credit card payments and QR code payments through Venmo, Zelle, etc.

It's just about the application and adoption if it's about money. Gold? it's far from being money but it's one of the safest assets that one can have as an investment.

Gold and Bitcoin are both assets that can be used for different purposes.However, based on the comparison between gold and bitcoin provides a way for you to decide which asset to invest in.
Bitcoin has been around for little more than a decade,meanwhile,bitcoin is more volatile investment  with far greater upside potential than Gold but with that comes huge downside risks.
Differently,Bitcoin,fait and gold characteristics maintains a high value and decisions to central access and usage.

[OrangeII]

All this depends on what habits we have. Personally, I would probably rank the best money as Fiat, Bitcoin, then Gold. The reason is, I am used to using Fiat, and it is very suitable for use in my environment, in fact I think all over the world. Bitcoin was created as a payment alternative, but personally, if I had a lot of bitcoin, then I would hold it and think of it as an investment. As for gold, I have always thought that it was a form of physical investment. Even though it used to be used as a medium of exchange, in the modern era, most people use gold as a long-term investment.

[BALIK]

We need fiat and there's no doubt about that but the world is changing and innovating so, with the acceptance of many countries with Bitcoin. There's a possibility that digital apps provided by banks might have a portion on their wallets by depositing Bitcoin on it.

And then, you can spend directly it with everything just like with the common credit card payments and QR code payments through Venmo, Zelle, etc.

It's just about the application and adoption if it's about money. Gold? it's far from being money but it's one of the safest assets that one can have as an investment.

Gold and Bitcoin are both assets that can be used for different purposes.However, based on the comparison between gold and bitcoin provides a way for you to decide which asset to invest in.
Bitcoin has been around for little more than a decade,meanwhile,bitcoin is more volatile investment  with far greater upside potential than Gold but with that comes huge downside risks.
Differently,Bitcoin,fait and gold characteristics maintains a high value and decisions to central access and usage.

Most people here will choose bitcoin because they are all bitcoin investors and the reason they choose bitcoin is because everyone wants to get rich quickly, wants to make big profits from bitcoin. But I agree with you, the choice of gold or bitcoin will depend on each person and which asset is best will depend on each investor.

Currently I don't invest in gold because I don't have too much money, I focus entirely on bitcoin, I am willing to take risks to change my life. But if I were a person with a lot of money, I would definitely choose gold because it is obviously safer. Gold or bitcoin, both are very good and depending on economic conditions, each person will have the right choice.

[Darker45]

Didn't click on the link. But I see Bitcoin as the overall best money among the three. That's not to say that Bitcoin is the perfect money, though. Bitcoin is far from perfect. Circumstances on the ground differ. Bitcoin can't even function as money in many places all over the world. Bitcoin, gold, and fiat have their advantages and disadvantages. They're better than each other in certain respects. Overall, however, I think it's Bitcoin that's better than the other two.

[AVE5]

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.

🤦‍♂️

If I'd say according to what he said of the improbabilities that the price of bitcoin would be predictable to roar higher or depreciating.
I literally doesn't sense any sentiment on that comment because to me, it states obviously that bitcoin is a volatile currency and can't be predicted.
Although while considering the influence of bitcoin price in the future, I see every tendencies that it'd keep to rise but yet I can't predict if its specific value and can't tell if it'd surge to a specific maximum value. I can only assure that bitcoin price can never be dropped to valueless price even in the future.

[arwin100]

We need fiat and there's no doubt about that but the world is changing and innovating so, with the acceptance of many countries with Bitcoin. There's a possibility that digital apps provided by banks might have a portion on their wallets by depositing Bitcoin on it.

And then, you can spend directly it with everything just like with the common credit card payments and QR code payments through Venmo, Zelle, etc.

It's just about the application and adoption if it's about money. Gold? it's far from being money but it's one of the safest assets that one can have as an investment.

Gold and Bitcoin are both assets that can be used for different purposes.However, based on the comparison between gold and bitcoin provides a way for you to decide which asset to invest in.
Bitcoin has been around for little more than a decade,meanwhile,bitcoin is more volatile investment  with far greater upside potential than Gold but with that comes huge downside risks.
Differently,Bitcoin,fait and gold characteristics maintains a high value and decisions to central access and usage.

Most people here will choose bitcoin because they are all bitcoin investors and the reason they choose bitcoin is because everyone wants to get rich quickly, wants to make big profits from bitcoin. But I agree with you, the choice of gold or bitcoin will depend on each person and which asset is best will depend on each investor.

Currently I don't invest in gold because I don't have too much money, I focus entirely on bitcoin, I am willing to take risks to change my life. But if I were a person with a lot of money, I would definitely choose gold because it is obviously safer. Gold or bitcoin, both are very good and depending on economic conditions, each person will have the right choice.

Its expected to see that result since we are all dealing with bitcoin so for sure a lot of people would say that bitcoin is more better than the assets mentioned. But actually we don't really need to choose since its more better for us to select those three option since there are separate uses for those assets where we can take advantage on.

And instead of choosing only one asset then its better to have all of it since I believe that 3 is better than 1 and also we should not put all in single basket since there are more greater picture if we avail all of benefits of some valuable things that we can able to have.

[el kaka22]

At bitcointalk, getting mostly bitcoin answers is the way to go obviously, we are not going to hear just bitcoin of course there will be people who prefer other stuff but it would be mostly bitcoin answers. My reason is that it is something in between the other two, it is an asset like gold that gains value, but it is a currency like fiat where you can spend it and earn it as well.

You do not go to a shop and buy stuff with gold, and you do not hold fiat and gain value, so that means bitcoin is better than both of them. This is why I prefer it and I have been using it for a long time. A lot of people only invest into bitcoin, and I do that too of course but I also use it and I feel like that is the most important part.

[Gaza13]

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.

[fauzan Ichsan]

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.

In fact, gold seems to only be a hedge, even though the price continues to rise, it is only to protect against inflation, whereas fiat, over time, becomes less and less valuable, this is what frustrates many people, considering that salaries are difficult to increase but the price of necessities rises significantly. but what else, of course the government has more power to determine it, even though we are all here giving the relevant value of bitcoin

[lixer]

Didn't click on the link. But I see Bitcoin as the overall best money among the three. That's not to say that Bitcoin is the perfect money, though. Bitcoin is far from perfect. Circumstances on the ground differ. Bitcoin can't even function as money in many places all over the world. Bitcoin, gold, and fiat have their advantages and disadvantages. They're better than each other in certain respects. Overall, however, I think it's Bitcoin that's better than the other two.

If you think BTC is like that or can't function well as money, then you shouldn't say that it is the best among the rest/three but BTC is so popular now and there are now countries that made it a legal tender. By that, it is actually possible now to just rely on BTC as your main currency/money but for me, I think I won't still consider it as the best. If there is best, that would still be fiat due to its wider acceptance and it is possible because it is only easy to use.

Just like earlier, if you think each has their own pros and cons, then you shouldn't insist that BTC is better, though each of us has our own preferences and this is why many are here in BTC and they don't add anything anymore.

[Franctoshi]

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.

🤦‍♂️

First of all, how do you qualify money? Because to my knowledge, the value of money is what money can buy, which one would you choose or call better money? the fiat currency that depreciate its 2% value each year because of inflation or in other terms called money printing, Basically its purchasing power decreases over time, or would choose Bitcoin that adds value or appropriate over time, thus its purchasing power increases over time which is deflationary, in fact Bitcoin beats fiat currency hands down if we should compare both, if not for the fact that fiat currency is the traditional money.

[Reatim]

What he meant was that bitcoin is unpredictable. It could go higher, or not. He doesn't say it won't, but we can't be certain of that.

And that is one of the risks in investing in bitcoin. Us, investors, know that bitcoin is volatile yet we still all invest in it because the benefits far outweigh the risks. You just need to try and manage the risks as best as you can so that you lose minimally and earn the maximum profit.

People need to realize that while bitcoin can give you profit, it can give you losses too. It doesn’t mean that it’s already a bad investment though.

[Cookdata]

All this depends on what habits we have. Personally, I would probably rank the best money as Fiat, Bitcoin, then Gold. The reason is, I am used to using Fiat, and it is very suitable for use in my environment, in fact I think all over the world. Bitcoin was created as a payment alternative, but personally, if I had a lot of bitcoin, then I would hold it and think of it as an investment. As for gold, I have always thought that it was a form of physical investment. Even though it used to be used as a medium of exchange, in the modern era, most people use gold as a long-term investment.

OP never stated exactly what he meant with Better money but Fiat, Gold and Bitcoin all have their advantages and disadvantages. Let's look at it in term of spending perspective.

Fiat: one can spend it anywhere at anytime anyday without any form of conversion, you don't need any intervention as long as the currency is recognized as a legal tender and settlement of debt.

Bitcoin/Gold: It might be easy to see Gold legalize in most countries but you wouldn't see for Bitcoin, so spending will Gold physically wouldn't be easier than for Bitcoin but the both need conversion because not everyone will accept gold because you want to buy food, there must be a conversation, same with Bitcoin.

Looking at it from asset perspective, we don't need a soothsayer that Bitcoin is the best, while Gold is good and Fiat is weak amongs all because it will likely lose value as time pass by.

[ndutndut]

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.

[Ben Barubal]

     This is just my opinion; I will choose Bitcoin or Crypto. Because right now, if I have a profit in Bitcoin, I can do it as a day trade activity, where when I have a Bitcoin or crypto profit,
I can exchange it for our fiat currency here in the country I belong to.

     In these times of my life, this is my main source of income, and it is grown through trading activity to make a profit, so this Bitcoin or crypto is really money for me that can be exchanged
for our real money.

[Marvell1]

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.