Bitcoin or Gold? What would you pick?

[Marlo Stanfield]

For really long term, gold.

For short term, bitcoin.

Funnily enough, I would say the opposite. Bitcoin is better for really long term investing imo(buy and hold) and gold is alright for short term fear in the financial world.

[Justine]

For really long term, gold.

For short term, bitcoin.

Funnily enough, I would say the opposite. Bitcoin is better for really long term investing imo(buy and hold) and gold is alright for short term fear in the financial world.

The private key is uncrackable for now. Who know if this is true 10 years down the road.

[Marlo Stanfield]

For really long term, gold.

For short term, bitcoin.

Funnily enough, I would say the opposite. Bitcoin is better for really long term investing imo(buy and hold) and gold is alright for short term fear in the financial world.

The private key is uncrackable for now. Who know if this is true 10 years down the road.

If technology was progressing to the point where it was feasible for a private key to be cracked, couldn't the devs just upgrade the encryption?

[jambola2]

I'd say they are both currency proxies.   Its a legitimate comparison.    Tell me why are you buying gold especially if you are neither a jeweller or wanting to wear it personally.     Same criticism gets handed to BTC, what the heck is all this bother about a useless hash code.   Both are highly valued but valueless, useless even products.

Also there is some gold on the usb key and on the motherboard I think    Im jealous of those Chinese language skills, I'd argue thats the most valuable product in the video

The same can be said for any currency. A coin of any currency has no inherent value , it is just metal , why are you giving people real stuff for it ?
These seemingly useless items have value because they are believed to have value.

USD has it because it is government enforced, gold has it because of rarity and use, Bitcoin has it due to the work it takes to create.

[jambola2]

For really long term, gold.

For short term, bitcoin.

Funnily enough, I would say the opposite. Bitcoin is better for really long term investing imo(buy and hold) and gold is alright for short term fear in the financial world.

The private key is uncrackable for now. Who know if this is true 10 years down the road.

If technology was progressing to the point where it was feasible for a private key to be cracked, couldn't the devs just upgrade the encryption?

Firstly , you cannot 'crack' a single private key , you just need to find all the private keys in the entirety of Bitcoin.

Secondly , it's not possible that it will be cracked , by any force in our universe.
Literally

[Marlo Stanfield]

For really long term, gold.

For short term, bitcoin.

Funnily enough, I would say the opposite. Bitcoin is better for really long term investing imo(buy and hold) and gold is alright for short term fear in the financial world.

The private key is uncrackable for now. Who know if this is true 10 years down the road.

If technology was progressing to the point where it was feasible for a private key to be cracked, couldn't the devs just upgrade the encryption?

Firstly , you cannot 'crack' a single private key , you just need to find all the private keys in the entirety of Bitcoin.

Secondly , it's not possible that it will be cracked , by any force in our universe.
Literally

I've seen that before and I was just addressing the question that was asked. I know the only realistic ways we're going to see an issue like that is either through an exploit in SHA256 or through some completely new way with quantum computing.

[tee-rex]

The private key is uncrackable for now. Who know if this is true 10 years down the road.

If technology was progressing to the point where it was feasible for a private key to be cracked, couldn't the devs just upgrade the encryption?

Firstly , you cannot 'crack' a single private key , you just need to find all the private keys in the entirety of Bitcoin.

Secondly , it's not possible that it will be cracked , by any force in our universe.

Okay, at first they said the speed of light in vacuum was the highest possible limit, but now it turns out that everything is not that simple. So how can we be that sure about it being impossible to crack?

[okthen]

For really long term, gold.

For short term, bitcoin.

Funnily enough, I would say the opposite. Bitcoin is better for really long term investing imo(buy and hold) and gold is alright for short term fear in the financial world.

It's kinda weird. I think my short and long term opinion will change with time and how things go.
Now I'd say long term gold, short term btc.
But if in two years bitcoin is widespread, it would probably be the opposite.

[boumalo]

For really long term, gold.

For short term, bitcoin.

Funnily enough, I would say the opposite. Bitcoin is better for really long term investing imo(buy and hold) and gold is alright for short term fear in the financial world.

It's kinda weird. I think my short and long term opinion will change with time and how things go.
Now I'd say long term gold, short term btc.
But if in two years bitcoin is widespread, it would probably be the opposite.

If you believe in Bitcoin you will think it will appreciate in value in long term, you may want to sell it after a huge paper profit in a few years but you shouldn't own any if you don't think you are a positive expectation in the long run

The Gold market is heavily manipulated, Gold is a scarce ressource that has been used as a store of value for thousands of years and is valuable for its proprieties as well so it will appreciate tremendously when the western financial crisis unfold

[STT]

2 to the power of 256 is a 77 digit number?   That is hella big but my windows calc was able to give that number so Im amazed if its impossible to then count it or I guess my maths totally sucks and I really dont get why this is so hard to do

I know finding prime numbers is a big test for a computer or resolving the numbers on PI but if plain counting cannot be speeded up, optimised, thats surprising.    Gold can be artificially reproduced, however it really is not something you'd want to do as it is in the form of a radioactive element with a half life of about half a year so pointless I guess.  However I would speculate that maybe one day just possibly they could regularly cheaply produce stable gold and so break the 'reserve' capacity from its rarity.   Only reason I say that is at the same time I think they'd have 'free energy', we'd get nuclear fusion or whatever route allows us to stop fighting over oil, dynamics of society would massively change.    

Maybe that is the point I miss with that bitcoin picture, they are saying if this is not true then neither are alot of things so this is a reliable standard for sure now.   Gold is susceptible to a meteor landing here or on the moon even with giant amounts of gold, otherwise its 'secure' also?

[leezay]

Okay, at first they said the speed of light in vacuum was the highest possible limit, but now it turns out that everything is not that simple. So how can we be that sure about it being impossible to crack?

Yes. And it wasn't too long ago when people believe earth is flat and the church will burn people for holding this believe.

[Denise520]

Maybe for traditional Chinese consumers, he /she will go with gold.

[Harley997]

.....
The Gold market is heavily manipulated, Gold is a scarce ressource that has been used as a store of value for thousands of years and is valuable for its proprieties as well so it will appreciate tremendously when the western financial crisis unfold

IMO the BTC market is even more manipulated then the gold market is, by far. Take for example when mtgox had stopped withdrawals but had not yet officially shut down. There were so many rumors and false news circulating around that it was ridiculous

[tee-rex]

.....
The Gold market is heavily manipulated, Gold is a scarce ressource that has been used as a store of value for thousands of years and is valuable for its proprieties as well so it will appreciate tremendously when the western financial crisis unfold

IMO the BTC market is even more manipulated then the gold market is, by far. Take for example when mtgox had stopped withdrawals but had not yet officially shut down. There were so many rumors and false news circulating around that it was ridiculous

Hardly so, since the system is highly decentralized and most bitcoins are just hoarded when the price drops (unlike traded "paper" gold). Thus, despite being a minuscule market (compared to those of gold and silver), bitcoins are actually more "cornerproof", at least in the mid and long term.

[Harley997]

.....
The Gold market is heavily manipulated, Gold is a scarce ressource that has been used as a store of value for thousands of years and is valuable for its proprieties as well so it will appreciate tremendously when the western financial crisis unfold

IMO the BTC market is even more manipulated then the gold market is, by far. Take for example when mtgox had stopped withdrawals but had not yet officially shut down. There were so many rumors and false news circulating around that it was ridiculous

Hardly so, since the system is highly decentralized and most bitcoins are just hoarded when the price drops (unlike traded "paper" gold). Thus, despite being a minuscule market (compared to those of gold and silver), bitcoins are actually more "cornerproof", at least in the mid and long term.

It isn't so much about "cornering" the market, but is more about manipulating the price at which the market trades at.

[ShakyhandsBTCer]

The private key is uncrackable for now. Who know if this is true 10 years down the road.

If technology was progressing to the point where it was feasible for a private key to be cracked, couldn't the devs just upgrade the encryption?

Firstly , you cannot 'crack' a single private key , you just need to find all the private keys in the entirety of Bitcoin.

Secondly , it's not possible that it will be cracked , by any force in our universe.

Okay, at first they said the speed of light in vacuum was the highest possible limit, but now it turns out that everything is not that simple. So how can we be that sure about it being impossible to crack?

The amount of energy that would need to be used by the amount of computing power necessary to crack a private key is so enormous that it would literally take lifetimes to crack a private key if all of the sun's energy were captuted

[tee-rex]

.....
The Gold market is heavily manipulated, Gold is a scarce ressource that has been used as a store of value for thousands of years and is valuable for its proprieties as well so it will appreciate tremendously when the western financial crisis unfold

IMO the BTC market is even more manipulated then the gold market is, by far. Take for example when mtgox had stopped withdrawals but had not yet officially shut down. There were so many rumors and false news circulating around that it was ridiculous

Hardly so, since the system is highly decentralized and most bitcoins are just hoarded when the price drops (unlike traded "paper" gold). Thus, despite being a minuscule market (compared to those of gold and silver), bitcoins are actually more "cornerproof", at least in the mid and long term.

It isn't so much about "cornering" the market, but is more about manipulating the price at which the market trades at.

This is exactly what cornering the market is about, that is about manipulating the price.

[tee-rex]

The private key is uncrackable for now. Who know if this is true 10 years down the road.

If technology was progressing to the point where it was feasible for a private key to be cracked, couldn't the devs just upgrade the encryption?

Firstly , you cannot 'crack' a single private key , you just need to find all the private keys in the entirety of Bitcoin.

Secondly , it's not possible that it will be cracked , by any force in our universe.

Okay, at first they said the speed of light in vacuum was the highest possible limit, but now it turns out that everything is not that simple. So how can we be that sure about it being impossible to crack?

The amount of energy that would need to be used by the amount of computing power necessary to crack a private key is so enormous that it would literally take lifetimes to crack a private key if all of the sun's energy were captuted

If we could walk to the Moon Sun, it would also take the lifetimes of many generations to get there (let's assume for a moment that we have an interest of getting there).

[PrimevalLeviathan]

half gold  half gold

[GangkisKhan]

The private key is uncrackable for now. Who know if this is true 10 years down the road.

If technology was progressing to the point where it was feasible for a private key to be cracked, couldn't the devs just upgrade the encryption?

Firstly , you cannot 'crack' a single private key , you just need to find all the private keys in the entirety of Bitcoin.

Secondly , it's not possible that it will be cracked , by any force in our universe.

Okay, at first they said the speed of light in vacuum was the highest possible limit, but now it turns out that everything is not that simple. So how can we be that sure about it being impossible to crack?

The amount of energy that would need to be used by the amount of computing power necessary to crack a private key is so enormous that it would literally take lifetimes to crack a private key if all of the sun's energy were captuted

If we could walk to the Moon Sun, it would also take the lifetimes of many generations to get there (let's assume for a moment that we have an interest of getting there).

That is what people assume. We can progress at exponential rate if we put our mind into it. Walking on the Sun could be done if we set our mind into it.