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Author Topic: Bitcoin or Gold? What would you pick?  (Read 7736 times)
bryant.coleman
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May 08, 2014, 11:10:08 AM
 #121

Gold because it won't get attacked by hackers or be lost due to user stupidity

That is a point, agreed. But at the same time, Bitcoin doesn't need expensive lockers and safes to store it. Even after doing all this, gold can still be stolen. Haven't you heard about any robbery of bank lockers in the recent time?
Inger15
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May 08, 2014, 11:31:36 AM
 #122

paywall, can u post it?
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May 08, 2014, 02:02:14 PM
Last edit: May 08, 2014, 02:20:47 PM by 1Referee
 #123

I would go for gold as this can be used as "currency" when you don't have any money. And also because it holds value much better than Bitcoin.
People trust in gold, not so much in Bitcoin. Trust in financial world is very important, at the moment Bitcoin is not being trusted by many people.

My personal opinion is Bitcoin is going to stay for some years, but eventually Bitcoin will not succeed.
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May 08, 2014, 02:06:05 PM
 #124

I will also go for GOLD ..
CrazyBit
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May 08, 2014, 10:14:26 PM
 #125

I would say BitCoin for sure. There is so much more of a fluctuation change with BitCoin.
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May 08, 2014, 10:23:23 PM
 #126

Bitcoin is our future,gold is our Reality. To be or not to be, is the question.

Bibop
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May 08, 2014, 10:24:32 PM
 #127

gold is much more practical right now.
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May 08, 2014, 10:57:14 PM
 #128

There is a hard floor for gold don't know where but the downside is limited not so with bitcoin. so only gold will be sure to have value in a few years time.
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May 08, 2014, 11:29:58 PM
 #129

I believe in BTC, much better than gold
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May 09, 2014, 01:34:15 AM
 #130

Gold is pretty much hacker proof
ChuckBuck
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May 09, 2014, 01:41:11 AM
 #131

Gold is pretty much hacker proof

Is Gold safe cracker proof though?


CharityAuction
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ColdScam
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May 09, 2014, 02:29:49 AM
 #132

I believe in BTC, much better than gold

not at this point it isn't.  What can you buy with gold?  Lots of stuff and almost anyone would accept gold as payment.  Can't say the same thing about bitcoin, you can buy very little with it and very few people will accept it as payment.
Captain America
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May 09, 2014, 03:33:01 AM
 #133

IMO, Bitcoin is more efficient as a mode of exchange cos it doesn't need someone to mind it (as with your bank accounts).
So If I want to transfer $100,000 to Germany because I'm relocating, I don't have to deal with any of the regulatory bullshit that is going to take 2 weeks and $300 just to get my own money. I simply use bitcoin and all of the taxes and fees are gone.

Is it good for me? OFC! I hope Bitcoin will be our future.
monim1
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May 09, 2014, 04:41:26 AM
 #134

I must go it Bitcoin. Because i can use it as a medium of exchange. Which can't happen with Gold and also Bitcoin is getting popularity faster. Some of you talk about Gold. I don't understand why are you thinking about Gold.
CADguy
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May 09, 2014, 04:46:06 AM
 #135

blackcoin actually Smiley
bryant.coleman
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May 09, 2014, 05:38:22 AM
 #136

blackcoin actually Smiley

If you want to advertise about some worthless dump-and-pump shit-coin, then do it somewhere else. I believe that the proliferance of these shit-coins is one of the main reasons for the decline in Bitcoin exchange rates right now.
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May 09, 2014, 05:55:32 AM
 #137

blackcoin actually Smiley

If you want to advertise about some worthless dump-and-pump shit-coin, then do it somewhere else. I believe that the proliferance of these shit-coins is one of the main reasons for the decline in Bitcoin exchange rates right now.


I have to agree with you. Bitcoin is already struggling with its reputation these days. With every one of these altcoins that come out, bitcoins credibility only worsens. I will say one thing about blackcoin though, at least it sounds better than some of the ridiculous alt coins out there.
Beliathon
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May 09, 2014, 05:59:56 AM
 #138

$5 video rental + gas cost to drive to Blockbuster, or Netflix, which would you pick?

Horse and buggy or ultra-cheap electric car, which would you pick?

$2000 Airplane ticket or $2 teleportation fee, which would you pick?

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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May 09, 2014, 06:49:11 AM
 #139



choose both?  half BTC, half in gold.  Grin


Vintage4X4
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May 09, 2014, 06:56:23 AM
 #140

Then the thing can be sealed in such a way that if anyone opens it, you destroy the physical bitcoin. You'd have to re-create the coin, but then it would be obvious.

This part is troublesome. Crooks will always find out various methods, to open the coin without physically destroying the Bitcoin. Also what if the manufacturer of these coins copy the private key to somewhere else, before entering them to the coins?

Yes, so, if the coin were purely physical, like casascius coins, people have already managed to expose the private key without destroying the hologram sticker.

But if the physical coins were actually chips sealed in epoxy or something, there is no way to x-ray that, and the only point of contact would be the terminals, but all the chip can do is sign a message.

Sure you can probably empty or sweep the bitcoins away, but anyone who can see the blockchain will know.

I think, that's the main issue, the only sure fire way to know if any physical coin has real bitcoins is to check the blockchain, therefore internet service is required. There is only a token amount of certainty if you have an offline blockchain that is not updated in real time.

But if a particular bitcoin address has held a value for a long time, it might make sense to assume that it will continue to have that balance.

So there are two ways to make physical coins:

1. low tech way, just a coin secured by how it is sealed, brittle, easily destroyed, not easy to recreate, and has low value so it won't be a target since it costs more to "open it up".

2. smart chip or something and only a serial terminal to communicate with it. Think of yubikeys, for example.

You combine both methods to produce a smart chip that dies easily if someone attempts to open it, rendering the coin useless.

For my own personal use, I could get a micro SD card and seal it in it's original container, then sink that in a small cup of resin. When the thing dries, I'd have to carefully break it out. Those memory cards can last maybe 10 years, more if not use and sealed like that.

Of course, no one else would believe that this little blob can possibly contain the private key.


I'd still pick bitcoin over gold, at least for the next 5 years.

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