Why do people compare tangible Gold with intangible Bitcoin

[Fragrance1122]

Gold isn't scarce because it can be mined more and more with the passage of time but bitcoin has fixed supply of 21 million.
Splitting of gold can be easy but up to some extent while 1 BTC is equal to100,000,000 satoshis. In portability gold is heavy to carry and might need security if in large quantity but you send million dollars of BTC in 10 minutes. The track record of gold is more than 4000 years while their of BTC it is only 18 years probably. Still many of the people are convinced that BTC is better than gold. How?

[BlackHatCoiner]

Gold is theoretically nearly infinite in the Universe and there's thousands of tons gold inside the Earth, but economically speaking, it is irrelevant. The accessible gold is what's scarce.

Bitcoin and gold share similarities. Both are hard money and scarce. Both have proved to be storing your purchasing power overtime.

[_act_]

Gold is theoretically nearly infinite in the Universe and there's thousands of tons gold inside the Earth, but economically speaking, it is irrelevant. The accessible gold is what's scarce.

This is true, but more gold deposits are discovered within each few years. There are more gold on earth than trees, but most of the gold are buried where humans can not mine it. There are far more gold in the milky way and far more gold in the observable universe.

Gold can be created in the lab, but it is expensive that mining gold.

Bitcoin and gold share similarities. Both are hard money and scarce. Both have proved to be storing your purchasing power overtime.

I think bitcoin is better depending on how humans see it. If they see it to be more scarce and they prepare to see it more as money in the digit age, they buy it, the government buy it, more institutions buy it.

[Fragrance1122]

Gold is theoretically nearly infinite in the Universe and there's thousands of tons gold inside the Earth, but economically speaking, it is irrelevant. The accessible gold is what's scarce.

Bitcoin and gold share similarities. Both are hard money and scarce. Both have proved to be storing your purchasing power overtime.

If you have 20k$ , would you buy gold or BTC? why? economics behind your choice. Keep in mind the volatility and variations of both

[Smartprofit]

Satoshi Nakamoto was the first to compare Bitcoin to gold (although he didn't directly use the term "digital gold").🙋

Gold is, in essence, a very scarce asset. Gold is difficult to mine... Exploring new gold deposits takes time, money, and effort.

Therefore, in my opinion, comparing Bitcoin to gold is completely accurate.

Bitcoin is mined. However, mining requires a large initial investment (ASIC miners and electricity are very expensive). Furthermore, financial investment doesn't guarantee a positive outcome, as you are constantly competing with other miners.

The key difference between Bitcoin and gold, in my opinion, is that gold exists in the real world, while Bitcoin exists in the virtual world.🧑‍💻

P.S.

I would buy Bitcoin. Gold is harder to store.

[purple_sparkles]

Gold isn't scarce because it can be mined more and more with the passage of time but bitcoin has fixed supply of 21 million.
Splitting of gold can be easy but up to some extent while 1 BTC is equal to100,000,000 satoshis. In portability gold is heavy to carry and might need security if in large quantity but you send million dollars of BTC in 10 minutes. The track record of gold is more than 4000 years while their of BTC it is only 18 years probably. Still many of the people are convinced that BTC is better than gold. How?

I think this comparison exists because bitcoin has shown a certain level of stability and reliability, which is why people compare it to gold. When investing money in gold, you usually understand that if you treat it as a long-term investment, you are very likely to preserve and increase your capital.The same thing is now happening with bitcoin. People are starting to trust it and use it more actively, because there are not many stable assets in the world that can both preserve and grow their money over time.

[Z-tight]

There is no doubt that people like to debate between BTC and gold, but i think that debate is unnecessary, they are both good assets to have and even much better if you have both. You know, we are in a bitcoin forum, so you'd find more people on the side of BTC, however, both assets have their pros, cons as well as similarities.

Gold is a more efficient store of value and that is why Central Banks stockpile gold in their reserves, BTC is also a store of value, but it is more volatile. And many other things i can point out, but it is the investor that will decide which is better for them.

[DPHOR]

Bitcoin is regarded as digital Gold and even though there are still possibilities to trade gold on exchange Bitcoin is likened to the Gold. Of course, people compared these two assets because it's a store value and even if Bitcoin is volatile, there are chances of Bitcoin to still increase back to the original state or even above the original price it was.
However, Gold has been existent for millenniums and I must say from the origin of the world, both are seen as a safe haven or store of values.

[HONDACD125]

Gold isn't scarce because it can be mined more and more with the passage of time but bitcoin has fixed supply of 21 million.
Splitting of gold can be easy but up to some extent while 1 BTC is equal to100,000,000 satoshis. In portability gold is heavy to carry and might need security if in large quantity but you send million dollars of BTC in 10 minutes. The track record of gold is more than 4000 years while their of BTC it is only 18 years probably. Still many of the people are convinced that BTC is better than gold. How?

Both are assets used for investments, so comparisons will surely be done by those who are into investments. Besides, it's not about which one is better and which one isn't, both have their pros and cons, they are from different markets, have different characteristics, different usage, and different supplies, their volatility has so much difference, and on top of everything else, one of them has a physical existence while the other one is only digitally available. However, since both of them are or can be used as investment assets, those making those investments will surely compare both options, and then they will go with the one that suits their investment goals and targets.

Most people these days prefer Bitcoin for their investments, and the reason is clear and simple and everyone knows it; they all know that Bitcoin is more volatile and has the potential to get them better returns in a shorter period than they can get from their investments in Gold because Gold isn't as volatile as Bitcoin for a very obvious reason which is that it doesn't have a fixed supply like Bitcoin, so the demand doesn't make its price go up and down that much.

[MRY]

Gold isn't scarce because it can be mined more and more with the passage of time but bitcoin has fixed supply of 21 million.
Splitting of gold can be easy but up to some extent while 1 BTC is equal to100,000,000 satoshis. In portability gold is heavy to carry and might need security if in large quantity but you send million dollars of BTC in 10 minutes. The track record of gold is more than 4000 years while their of BTC it is only 18 years probably. Still many of the people are convinced that BTC is better than gold. How?

Both are assets used for investments, so comparisons will surely be done by those who are into investments. Besides, it's not about which one is better and which one isn't, both have their pros and cons, they are from different markets, have different characteristics, different usage, and different supplies, their volatility has so much difference, and on top of everything else, one of them has a physical existence while the other one is only digitally available. However, since both of them are or can be used as investment assets, those making those investments will surely compare both options, and then they will go with the one that suits their investment goals and targets.

Most people these days prefer Bitcoin for their investments, and the reason is clear and simple and everyone knows it; they all know that Bitcoin is more volatile and has the potential to get them better returns in a shorter period than they can get from their investments in Gold because Gold isn't as volatile as Bitcoin for a very obvious reason which is that it doesn't have a fixed supply like Bitcoin, so the demand doesn't make its price go up and down that much.

indeed the urge to make big profits in a short period of time is what seems to tempt too many to become victim to high volatility. This method can give optimum results when it is calculated. But when all these decisions are taken on the basis of the temptation of easy money and one is not psychologically ready to face drastic losses of money in seconds, then their financial situation may merge at any moment.