Why Bitcoin is Compared to Gold.

[VivaMan]

Currently Bitcoin is too valuable. Bitcoin can be compared to gold because of it value.most times people normally call it gold digital,
 but we need to actually know the relationship between this too phrase and why it's compared.
Now the reasons why Bitcoin is compared to gold is as follows
Gold is very difficult to find because of it value, the product gold, can't never controlled by any government or country, because of it's independence, both Bitcoin and gold appeals to people who distrust way out of financial method.
From creation, Gold is wealth, which is very valuable and have trust on, that is what makes it acceptable.
From 2009 when Bitcoin was launched, it's still as new as it was launched today, because of it value to the society. Although the Price is  volatile, but is preferable. that's why it' only exists disitally, this made people to trust and partner without fear, transactions can be made in an twinkle of an eye, to any place around the world. Gold as well is generally accepted globally.
Gold has weight, and it's high to export, now Bitcoin is trying to stand what's gold can afford, this both phrase has a high value of standard, one thing you need to also know is that gold is gotten from mining, and Bitcoin is created in a digital system.

[Ambatman]

Bitcoin isn't compared to Gold because of its value but it'd supply
Like Gold it has a decreasing supply and better fixed.

Gold is very difficult to find because of it value

Raw Gold are difficult to find because of its quantity not because of its value.

transactions can be made in an twinkle of an eye, to any place around the world.

Are you sure you talking about Bitcoin?

that gold is gotten from mining, and Bitcoin is created in a digital system.

So Bitcoin miners are what?

[Mia Chloe]

I believe both of them are basically just proof that peak performance doesn't depend on centralization or decentralization directly. One of the major reasons why I said this is because both of them are totally different with gold being centralized and bitcoin being decentralized.

I don't see direct benefits of comparing them but if gold was decentralized and still was able to maintain it's high demand and importance then it's very possible it still would have grown this much. The centralization of gold was just a way to place more importance on gold by creating the condition of scarcity.

[Cleanslate_]

Bitcoin is compared to Gold  because of its scarcity and value, bitcoins is also as valuable as Gold though it is in form of digital, that is why some persons refers it as "digital gold", Bitcoin has strong resistance to third party involvement and can't be manipulated by anyone or agencies, its supply is limited.

[Luzin]

transactions can be made in an twinkle of an eye, to any place around the world.

Are you sure you talking about Bitcoin?

I think, they are never see if the network is very busy. This is  main trouble Bitcoin, so many country not trust to make Bitcoin as a transaction tool. Ever make them to use as a standard like gold.

So Bitcoin miners are what?

I'm not sure but it could be that Satoshi was inspired by gold. But he made it even more perfect. With this supply limitation it will outperform gold.

[Darker45]

Bitcoin is compared with gold for a number of reasons. Scarcity is one. That additional supply will have to be mined is another. Satoshi compared the resources expended in gold mining to time and electricity in the case of Bitcoin.

Also, the gold standard and the Bitcoin standard share similar characteristics. For one, they're independent from central banks and governments. They're decentralized, which means no government has control over their issuance and supply. And then there's the high stock-to-flow ratio, which somehow assures holders that new supply isn't a threat to the value of the existing supply, thereby making both gold and Bitcoin good stores of value.

[(BTC)]

Gold and bitcoin are both extremely popular hedges to fiat inflation.
That's one of the bigger reasons they are compared/contrasted, among other things people like to list.

[SeriouslyGiveaway]

Currently Bitcoin is too valuable. Bitcoin can be compared to gold because of it value.most times people normally call it gold digital,
 but we need to actually know the relationship between this too phrase and why it's compared.
Now the reasons why Bitcoin is compared to gold is as follows

Comparing Bitcoin and gold is quite a wrong comparison that is unnecessary too because they are different asset classes with different characteristics. However, people basically always want to compare things for trying to figure out which one is better than the another, that's reason we have such Bitcoin vs Gold comparison.

If you want to learn more about Bitcoin that is most important learning thing, then an insightful comparison between Bitcoin vs gold, read this.
The bullish case for Bitcoin.

You will find many insights in that book which are surely helpful for your Bitcoin learning.

[GreatArkansas]

What common thing for me reason is because of its supply. Even though gold has no fixed supply, it's still limited; they have similarities.
And that comes to another reason = scarcity, and causes the price of it to increase over time, like basic economics: supply and demand, that lead people to use them as investment.

[TokenTikas]

Bitcoin and gold are both valuable and gold has been trusted since ancient times with a very high value. On the other hand, bitcoin is a digital currency but it also holds strong value. We know that gold is centralized because of its physical stability and bitcoin is decentralized because it exists digitally. However, there is a difference when it comes to comparing them because proper comparison usually requires things of the same type.
Even though bitcoin and gold belong to different classes, they can still be compared based on their popularity and demand in today’s world but apart from that, there is really nothing much to compare between them separately.

[OcTradism]

What common thing for me reason is because of its supply. Even though gold has no fixed supply, it's still limited; they have similarities.
And that comes to another reason = scarcity, and causes the price of it to increase over time, like basic economics: supply and demand, that lead people to use them as investment.

Scarcity of bitcoin is only one contributor for Bitcoin success and there are more contributors to its success.

If only scarcity can make a cryptocurrency valuable, there has been not only Bitcoin reaching to massive adoption and success like it has gotten now. There are many altcoins which are abundant enough so that it's impossible to know and count all of altcoins that have ever created in history. Many altcoins tried to create smaller total supply than 21M as they tried to hype people that with smaller total supplies than Bitcoin's total supply, these altcoins will become more scarce and have higher values than Bitcoin's value or humbly have similar values as Bitcoin's value.

We know what happened with altcoins including low total supply altcoins.
How many cryptocurrencies failed?

[m2017]

Currently Bitcoin is too valuable. Bitcoin can be compared to gold because of it value.most times people normally call it gold digital,

And that's why comparing bitcoin to gold seems a bit odd to me, because bitcoin is volatile, while gold is stable (in value). From this perspective, they are completely different assets.

Gold is very difficult to find because of it value,

Gold has a limited "emission" within the planet (but not the galaxy). This isn't a matter of difficulty in finding it, but rather the difficulty of mining it (the profitability of mining).

the product gold, can't never controlled by any government or country, because of it's independence,

Most of the mined gold is in the hands of governments. What kind of independence are you talking about? Is it when the gold nugget is buried deep underground?

both Bitcoin and gold appeals to people who distrust way out of financial method.

Investing in gold is practically the basis of the financial method. Basis. 

From creation, Gold is wealth, which is very valuable and have trust on, that is what makes it acceptable.

Created by whom? By Mother Nature? In South or North America, before the arrival of Europeans, no one (the local population) needed gold. Gold acquired value only because people began to believe in its value.

From 2009 when Bitcoin was launched, it's still as new as it was launched today, because of it value to the society.

So what's the value of bitcoin to society? The ability (or lack thereof) to buy a cup of coffee with it?

Let's be honest, all current value of bitcoin is speculative.

Although the Price is  volatile, but is preferable. that's why it' only exists disitally, this made people to trust and partner without fear, transactions can be made in an twinkle of an eye, to any place around the world. Gold as well is generally accepted globally.
Gold has weight, and it's high to export, now Bitcoin is trying to stand what's gold can afford, this both phrase has a high value of standard, one thing you need to also know is that gold is gotten from mining, and Bitcoin is created in a digital system.

Here I am tired of reading a stream of unrelated thoughts.

[bitbollo]

Currently Bitcoin is too valuable.
...

There are many arguments that need to be discussed deeply but this makes me wondering... What do you think it is "value"?
Why is too valuable now that is around 40% less than ATH? Or maybe it cant be obsolete due to some magic tech out of nowhere?

Its something that could be arbitrary created or declared? Even if we use FIAT as system for "giving a value" this doesn't really make any sense.
Would you give a value to a fun experience? Would it be cheap or would it high, due intense emotion?
Of course if you compare yourself with your daily living you can feel the difference but this would not be the point...
Maybe due to some monetary functions bitcoin could be compared to gold. Its not just a "replica". Its not just recreate something.

[MarjorieZimmermanGinger]

From 2009 when Bitcoin was launched, it's still as new as it was launched today, because of it value to the society. Although the Price is  volatile, but is preferable. that's why it' only exists disitally, this made people to trust and partner without fear, transactions can be made in an twinkle of an eye, to any place around the world. Gold as well is generally accepted globally.
Gold has weight, and it's high to export, now Bitcoin is trying to stand what's gold can afford, this both phrase has a high value of standard, one thing you need to also know is that gold is gotten from mining, and Bitcoin is created in a digital system.

I've noticed one thing about both, although it can be a matter of debate and both are currently considered hedges. Bitcoin and gold are always discussed at certain points in time for those who view both positively. This perspective is different, as gold has a physical form, and laypeople say it's more relevant for investment, while others view Bitcoin as less relevant for investment. These are two different things when faced with some people who view these assets in this way.

Bitcoin is currently experiencing rapid progress due to its ease of transactions and the advantages it offers, resulting in continued growth in capitalization and increasing adoption. This demonstrates its continued growth, although this asset has no physical form, trust in its growing adoption is a positive factor for people using it.

[arzuo]

Such a comparison needs more nuance!!
The reason for the scarcity of gold is the nature and complexity of its extraction.
On the other hand, the reason for the scarcity of Bitcoin is its mathematical basis and specific numbers, and gold has thousands of years of history and a wide cultural context.

You can sell gold if you want, but it is limited to your limited area, that is, there is no opportunity to connect to the global market.

On the other hand, Bitcoin has an open global market, where you can connect and buy and sell. You can also trade!
You can buy it for a small amount of money if you want, whereas the opportunity to buy and sell gold for a limited amount of money is very small!!

So I think, in this case, Bitcoin has much more advantages, transparency and global market advantages compared to gold!!
You only need to have a little technical knowledge!!

[Rustam Meraj]

Both are hard and expensive to get, gold because of real mining and Bitcoin because of computer mining using electricity, which makes them easy to see, and their short supply and use. Even so, one of greatest chances of Bitcoin is that it is digital, unlike gold, which is heavy and difficult to move across borders, Bitcoin can be sent to any part of the world within few minutes and it is much simpler to make sure it is real. Path is flipping and younger people will choose speed and ease of use of Bitcoin over real weight of gold and make it new internet Gold Standard. Bitcoin would give the same safety as gold, but much more fit to our own new world money system as it is quick, light, and faking it is impossible.

[Maslate]

Bitcoin is being compared to gold because bitcoin is the new ''digital gold.'' And just like gold, bitcoin is also used to hedge against inflation but with higher volatility compared to gold itself. Both are also came from a decentralized nature, meaning no central authority that is controlling them.

However, gold is widely considered a safe haven asset, which is quite opposite from owning bitcoin since bitcoin is highly volatile, so its current and future price cannot be guaranteed, unlike gold that is proven to appreciate its value in time.

 

[Alex077]

Bitcoin is compared with gold for a number of reasons. Scarcity is one. That additional supply will have to be mined is another. Satoshi compared the resources expended in gold mining to time and electricity in the case of Bitcoin.

Also, the gold standard and the Bitcoin standard share similar characteristics...

An asset really shows its value during extreme situations - wars, global crises, pandemics.
And during the recent conflict in Iran, Bitcoin actually performed much better than gold and other precious metals, which kind of proves its edge.
At the end of the day, Bitcoin is up roughly 17% since the Iran–US conflict began.
It even outperformed stocks, gold, and silver - which says a lot about how it’s starting to behave like a store of value or even a safe-haven asset in times of war and economic stress.
https://x.com/bitcoinarchive/status/2043968430877835445?s=46&t=V07IM8b232m93jXsNncAog

[BlackBoss_]

An asset really shows its value during extreme situations - wars, global crises, pandemics.
And during the recent conflict in Iran, Bitcoin actually performed much better than gold and other precious metals, which kind of proves its edge.
At the end of the day, Bitcoin is up roughly 17% since the Iran–US conflict began.
It even outperformed stocks, gold, and silver - which says a lot about how it’s starting to behave like a store of value or even a safe-haven asset in times of war and economic stress.

Bitcoin has performed well and impressive through financial crisis as it was launched with Bitcoin Genesis Block on 9 January 2009, and the pandemic Covid-19 and economic crisis consequently show how strong Bitcoin was during such economic chaotic times.

About Bitcoin performances around war times, there is a report on it. Newbies] Bitcoin responses in wars, conflicts & Lessons learned. Honestly I don't know what the others realized but I saw Bitcoin performed well around war times too.

Bitcoin has been still a lot younger than gold but with all past impressive performances, I believe that Bitcoin is going to become much stronger with time and economic crisis and wars can not beat it down.

[purple_sparkles]

Bitcoin is often compared to gold because, like gold, it is not tied to any specific country, which allows it to serve as a kind of buffer for preserving wealth. It has its own steadily growing cycle that has been confirmed multiple times, which gives people a sense of security and stability. We can observe similar qualities in gold as well. That’s why it’s not surprising that these two assets are now being compared, and those who want to preserve and grow their savings often choose them.