Why do people compare tangible Gold with intangible Bitcoin

[shinratensei_]

Bitcoin is backed by math and scarce the same way gold is scarce. Tangible or not doesn't really matter, we are speaking about economic value of a thing and the rarer something is and the higher demand, the value will shoot up.
If we are talking about real scarcity, timber should be scarcer than gold in this universe yet gold is valued high, the economic value of a things always revolve around that two factor : scarcity and demand.

[Publictalk792]

Bitcoin is backed by math and scarce the same way gold is scarce. Tangible or not doesn't really matter, we are speaking about economic value of a thing and the rarer something is and the higher demand, the value will shoot up.
If we are talking about real scarcity, timber should be scarcer than gold in this universe yet gold is valued high, the economic value of a things always revolve around that two factor : scarcity and demand.

You are right that scarcity and demand is key to everything, but the comparison between gold and bitcoin is purely number based in nature and fails to take into account human element. Gold carries with it long history of physical form, war and deep mind trust and confidence spanning thousands of years. Bitcoin is still in its teen years. Even if code is correct, that amount of global trust won't happen overnight; it takes time.

Timber is interesting but it is also consumed and renewable. Because it cannot be destroyed, gold has been store of wealth for all time. Bitcoin definitely does copy that unchangeable supply, and its greatest strength. Without certainty of demand, however, scarcity is of no use. While Bitcoin continues to be subject to guessing and changes in stories, gold demand is relatively steady. But when people stop caring, it is not math that saves price.

[fuguebtc]

By the way, you said we have infinite in the universe? Do you mean by having gold on other planets? I once heard there is an asteroid in space that could have more gold (or maybe it was diamond) in it than there is on the planet. I have heard a lot of stories too, but can we believe them? Do you?

In theory, that is correct. Gold does not only exist on Earth but is also found in large quantities in asteroids. However, the main problem is that extraction is extremely difficult and still far beyond our current capabilities.

Thousands of years have passed, and humanity has yet to fully exploit the gold reserves in the Earth's crust, and mining is becoming more expensive than ever. It is too early to think about mining gold on other planets.

[colinistheman]

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?

How can you say its not scarce when gold is a naturally occuring substance. Its also scarce since the complex way on how it made is natural and those areas with mine gold arent like trees that can be replenish once mined. It will take time or another era to potentially create gold through natural process.

For me their the same its just that bitcoin is digital while gold is a metal substance.

The truth is that gold has a very large but finite supply, not infinite. Gold is becoming scarce because the rate of mining and the cost of mining are increasing every day, while demand is too high. Meanwhile, Bitcoin has a fixed supply and is almost impossible to increase.
However, it should be noted that the value of an asset is the result of both supply and demand. An asset with low supply but weak demand will not be able to outperform in terms of value or market position.

Overall, both Bitcoin and gold are potential asset, and each has its own strengths and weaknesses. Let's invest in what we like and what fits our own risk tolerance.

[Boiboi20]

Bitcoin is backed by math and scarce the same way gold is scarce. Tangible or not doesn't really matter, we are speaking about economic value of a thing and the rarer something is and the higher demand, the value will shoot up.
If we are talking about real scarcity, timber should be scarcer than gold in this universe yet gold is valued high, the economic value of a things always revolve around that two factor : scarcity and demand.

I get what you are saying when it comes to value being physical is not really the main factor what matters most is how rare something is and how many people want it That is why gold has alway been valuable and it is also why people see value in bitcoin if something is scarce and demand keeps growing it is price is naturally going to rise at the end of the day markets tend to reward scarcity and demand more than whether something can be touched or not.

[Danica22]

Bitcoin is backed by math and scarce the same way gold is scarce. Tangible or not doesn't really matter, we are speaking about economic value of a thing and the rarer something is and the higher demand, the value will shoot up.
If we are talking about real scarcity, timber should be scarcer than gold in this universe yet gold is valued high, the economic value of a things always revolve around that two factor : scarcity and demand.

You are right, the economic value of thing always revolves around scarcity and demand. However, I do not think timber is scarcer than gold. Timber is a renewable resource that is obtained through reforestation, while gold is almost non renewable.

Beyond that, whether an asset is tangible or intangible matter because it determines use cases and practical applications of that asset, which in turn drives demand.

Gold is in abundant supply, but demand for it far exceeds everything else. Therefore, its value remain stable and tend to increase over time despite annual additions to supply.

[HONDACD125]

Bitcoin is backed by math and scarce the same way gold is scarce. Tangible or not doesn't really matter, we are speaking about economic value of a thing and the rarer something is and the higher demand, the value will shoot up.
If we are talking about real scarcity, timber should be scarcer than gold in this universe yet gold is valued high, the economic value of a things always revolve around that two factor : scarcity and demand.

The economic value of things depends on three things: scarcity, demand, and usage.

The reason why Gold is valuable is because it is used for jewelleries and other stuff that are generally used by the elite or those who have good money. If Gold was also used for simple things just like other metals, it wouldn't have the same value and importance in the world. Also, Gold is not as scarce as Bitcoin, but because it has a lot of demand, it is valuable because of that.

When it comes to Bitcoin, the reason why it is so valuable is because of its scarcity and demand, and the demand is because of its usage, it is also because people know it's scarce and they can make money if they buy it just like how we tend to purchase things that are scarce because we know if we are only among the few owners, we can surely sell them at a very high price in the future if there is demand.

[zeuner]

No matter if one of them is only 18 years old, as of today none of them is so unimportant that it can be ignored when people think about investments. So, the next logical step is to also compare them to each other.

Whether one of them is "better" or "worse" is a rather subjective assessment.

[Cookdata]

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.

What do you now call digital Gold? I mean Gold token that represent 1:1 of Gold and are issued by different countries? Bitcoin isn't digital Gold, Bitcoin is Bitcoin and what Satoshi decribed it in the whitepaper, anyone doing anything different today is just trying to adopt Bitcoin through other means. There people that issue fake tokens to backed Bitcoin and they called it Bitcoin Defi, this makes Bitcoin easy for lending, borrowing and staking for other benefits.

I'm not sure why this endless debate of Gold and Bitcoin doesn't end, Gold was years ago, Bitcoin was less than some decades ago but it has surpass Gold in many ways, the only advantage of Gold over Bitcoin is government backing and I wouldn't call that advantage. It was purposely done to support their fiat system as reserved that had failed to meet up their expectations over the years. If they refused to support it tomorrow, it will lose most of it value, only its utility demand will determine the price later.

[aoluain]

....and most people actually only own intangible gold or commonly knows as "paper gold"

Eventhough it isnt physical Bitcoin is _moretangible than paper gold.
The blockchain doesnt lie, it cant be modified or edited, once to have self custody of something
with a fixed supply both in the creation and the overall amount controlled by energy and computing
it is more tangible than a metal with an unknown quantity and which can be diluted and as long as
the majority dont actually physically have it can have an unlimited amount of owners 'on paper'.

[Hazink]

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?

Bitcoin and Gold share a lot of similarities and I don't think we should be comparing both to the level of discrediting It’s completely. 

If you are using movement and safety as a means to devalue Gold, you should also apply the same to Bitcoin to some level.

It's only when you decide to carry large quantities which can attract attention that you can be under attack. The same is applicable to someone who holds a lot of bitcoin and publicise it, their will also be targeted at your back wealth brings enemies and criminals to your door step that's why you need to have a zipped mouth.

[BlackBoss_]

Bitcoin and Gold share a lot of similarities and I don't think we should be comparing both to the level of discrediting It’s completely. 

If you are using movement and safety as a means to devalue Gold, you should also apply the same to Bitcoin to some level.

It's only when you decide to carry large quantities which can attract attention that you can be under attack. The same is applicable to someone who holds a lot of bitcoin and publicise it, their will also be targeted at your back wealth brings enemies and criminals to your door step that's why you need to have a zipped mouth.

They don't have too many similarities but there are comparisons between them from both Bitcoin maximalists and gold maximalists. These people as maximalists have their only favorite asset and in their opinion, it's the best asset.

To support their favorite asset - that is the best in their mindset, they have to compare it with something good such as Bitcoin (by gold maximalists) and gold (by Bitcoin maximalists).

Of course, gold maximalists like Peter Schiff will have his reasons to support gold, while Bitcoin maximalists like Michael Saylor or somewhat maximalists like Changpeng Zao have their reasons to support Bitcoin.

It will be like an endless debate between two opposite maximalist class but it's still helpful by getting some insights through comparison in this book.
The bullish case for Bitcoin.
https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1
https://nakamotoinstitute.org/mempool/the-bullish-case-for-bitcoin/
Buy it if you want https://www.amazon.com/Bullish-Case-Bitcoin-Vijay-Boyapati/dp/1737204118