Bitcoin vs Gold: which one offer better protection against currency devaluation?

[davis196]

The guy with whom you had an argument probably doesn't know that the gold price went down a little in the past few months.
My answer is both BTC and gold can offer protection against inflation, but you have to play the long game and never panic sell.
The Bitcoin price moves in cycles and has bigger ups and downs(despite many Bitcoiners trying to deny the "price cycle" theory), while gold is very stable and it's price does up only in times of turmoil and fear. Diversifying your assets and having both BTC and gold is the best option.
I would add stocks and real estate to the "protection against inflation" list, but stocks are usually very sensitive towards inflation. Real estate is all about the location.

[Somegory]

It depends on the person that's been asked, some people will prefer Gold while some will prefer Bitcoin, I don't even see any reasons why anyone should be bringing this up when opinions will be one side over the other.

And to be fair both sides are good, but Gold is something that people can see, if information gets out that you have gold in your home you will be welcoming some bad ass criminals.

You can't see Bitcoin, even if words get out people will think you are faking it, unless you do look like someone who is very rich and also it's better to keep your mouth shut if you have Bitcoin either ways.

Wrench attacks aren't happening here, few people still believe that Bitcoin is a scam but you may never know.

[SilverCryptoBullet]

And to be fair both sides are good, but Gold is something that people can see, if information gets out that you have gold in your home you will be welcoming some bad ass criminals.

You can't see Bitcoin, even if words get out people will think you are faking it, unless you do look like someone who is very rich and also it's better to keep your mouth shut if you have Bitcoin either ways.

Both Bitcoin and gold are good for long term investments, and almost everyone know about that, and agree with that, I don't convince people to believe in bullish future of both Bitcoin and gold, it's kind of unnecessary.

With both of them, I would like to remind about one extremely dangerous threats: tokenization.

Tokenized gold tokens is not actual gold bars and you have to trust companies that are issuers of such gold tokens, so that you will be able to withdraw your gold tokens or convert them to fiat currency or get gold bars if you want. No guarantee that issuers won't do shady things and cause customer's fund loss.

Wrapped Bitcoin tokens are tokens, not actual bitcoins, and you might lose your money because of wrapped Bitcoin token depegs. If you want to invest money in Bitcoin, let's only buy bitcoin, and hold bitcoin.

[CryptopreneurBrainboss]

So, I would genuinely like to hear the opinions of experienced members here.

Few years back I would've said gold but currently and for future purposes, I'll have to go with Bitcoin. The evidence are all there and you can see it if you look well. The potential in Bitcoin is higher than that of gold beside gold has more marketcap than Bitcoin do so imagine what the value is going to be if/when it gets to that of gold so Bitcoin holds more advantage over gold. The investment in any of them is to protect your wealth and if I'm to trust any of them to do that perfectly considering all their disadvantages then it'll be Bitcoin. You can move/store Bitcoin easily but you'll have some physical disadvantages with gold or are you just going to trust buying the digital equivalent that you can't even verify its authenticity unlike Bitcoin that if you have it in your wallets, you own it and there's the Blockchain for authentication. Bitcoin is always the better choice.

[Nothingtodo]

If I imagine the depreciation of the currency then I would say that all currencies whose supply is unlimited will depreciate over time. Now if I compare Bitcoin and gold then the supply of gold is unlimited and naturally this precious metal is continuously being produced due to which it is impossible to limit the supply. So the depreciation of gold over time is possible but if you compare the supply in the case of Bitcoin then I must say it is a fixed supply of 21 million. So from these 21 million you cannot increase or decrease a single Bitcoin. So the depreciation of Bitcoin over time is much less than that of gold.

[Misbah2002]

Everyone has their own opinion and that's respected. We in the forum have learned a lot about both gold and BTC, but I prefer BTC because it's much easier to acquire. Gold is physical, it's more expensive, you can't buy it like you can buy BTC, you can't just pick it up anywhere. BTC is always in constant flux. Gold has had a long history because it's considered the safest, but since BTC arrived, it's here to stay and advance, evolving the entire global economic system.

Well, this situation is different in some countries because in my country now you can just buy gold from your bank app on your phone. Sure you are not holding a physical gold, but still, it's gold asset and when gold goes up, it goes up so you are basically like having a gold. Obviously, there could be some people who are afraid of that and want the actual gold itself; then you can do that, but it's really not that hard to find.

There are gold stores all around the country; with a 15-20 minute drive, you could get to a place that sells gold.

[Lida93]

This debate can not end because everyone will have their opinion and it will be a good option, because Gold is one of the most valuable assets in the world that some people see as the best asset in the world, it is the oldest asset in the world that people can argue about that it is the best asset in the world, bitcoin has been the best currency in the past few years but we should not forget that before bitcoin there is gold, and gold is still valuable that most people don’t think about bitcoin. For me, i will go with bitcoin because i know what bitcoin means to me and how far it has gone but if anyone chose gold over bitcoin ad the one that offer a better protection, i will not argue with them because that is their opinion and they have a reason for choosing it.

They both offer good hedge against currency devaluation at different periods of  economic crises and I wouldn't want to prefer one above the other at this point because both gold and bitcoin serves as a good asset to invest funds on over a long term. For it's decentralization, fixed cap and easily for transactions across borders, there's a lot of people that would prefer bitcoin as their investment asset over gold. But if an investor can afford hedging his funds on both of them, I would say yes.

[Abuobyda218]

First lets start with paper money, where the government can print unlimited paper money if it wants. So if the government prints unlimited money, the value of that currency can decrease in value over time.

Then let's talk about gold where the govt can increase the supply of gold by mining, which like money, can cause the value of gold to decrease over time if the supply increases.

Now let's talk about Btc, where there is no control by the government or any private organization to increase its supply because its supply is completely fixed and even if you mine it, you cannot suddenly increase the supply. And it is not possible to decrease it over time if you plan to hold it for the long term. However in the case of short term holding, you will not be able to understand the rise in its value, but in the case of long term holding, the growth in the value of BTC can be estimated very easily.

[pooya87]

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But we also have to acknowledge that gold will have stretches where it outperform Bitcoin along the way. The two assets have different market cycle and different drivers behind their price moves. So Bitcoin having better long term growth prospects doesn't mean it'll outperform gold in every period.

Definitely. In fact I always tell people who bag-hold altcoins and call that "portfolio" as part of their diversification that they should look into assets that have a different market cycles and aren't affected by the same things as bitcoin is and aren't following bitcoin (as altcoins are).

Gold is an excellent investment to have alongside your bitcoins.