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Author Topic: Bitcoin VS Gold :who is the winner ?  (Read 1353 times)
best-miner.com
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May 29, 2014, 09:13:51 AM
 #1


With many common characteristics ,Bitcoin is called “Gold 2.0”.So maybe we should hold a competition between gold 1.0 and gold 2.0.
There are the judging Standard –Six attribute of currency :
Durability
Convenience
Separation
Replacement
Limited supply
Acceptance
Durability
Gold is one of the most durable material on the global .It’s really rare goods .
Bitcoin may be destroyed when mining ,but the condition hasn’t happened .However ,if the hard disk with secret key is buried in the refuse landfill ,the unit of Bitcoin may be gone forever .Each unit of Bitcoin are written in the public record .We can predict what will happen in the future ,but until now ,Bitcoin running is great .However ,Bitcoin is only an experience ,so gold gains one point .

Winner :gold
 Convenience
A 0.2 million dollars house need 12 pound gold .Moreover ,its quality is also a problem .Then safety and insurance are the important problems .If you want to transfer a large amount of gold transnationally ,first you must estimate the fee and safety .So if your house is located on other countries ,you should pay 2 more pound gold for other fee .
 However ,you can use Internet transfer Bitcoin through the world .It is so fast with no insurance or fee .

Winner :Bitcoin
 Separation
Gold can be divided into small pieces ,but it may cost high cost .Moreover ,not everybody can divide gold exact .In technology ,using science and expensive equipment to divide gold is possible .But in fact ,it’s difficult to do .
 However ,everybody can divide Bitcoin into 8 decimal points .Moreover ,you can create endless free wallet to save your Bitcoin value if you want .

 Winner :Bitcoin
 Replacement
 The exactness and value of an unit and another unit should be very similar .However ,gold can be undiluted .And gold may be casted with other metal.
But Bitcoin will not .If you don’t have several millions dollars investment ,you cant falsify Bitcoin .And the profit may be short .Moreover ,add sum up all Bitcoin value is 100%.

 Winner :Bitcoin
 Limited supply
Gold supply is limited .In the history ,gold can be filled with a tennis court .So it’s more difficult to seek gold .What’s more ,if there is a enormous discovery ,gold price will be low.
 Bitcoin supply has serious rule and it may be published ended in 2140.We write up the contract according to issuance amount .So Bitcoin supply is more limited than gold .

 Winner :Bitcoin
Acceptance
 Gold can be exchanged into other precious metal ,but actually little commercial activity accepts gold as payment .Because its identification is very difficult .Moreover ,gold is difficult to change .
 However ,many areas accept bitcoin .Moreover ,bitcoin trading places are everywhere ,and you can be connected with banks directly .Bitcoin trend is that more companies will join in its group .With more confidence in bitcoin value ,its acceptance is increasing .As the investors from Wall Street pay more attention to bitcoin ,more and more people care about it .

 Winner :Bitcoin
Summary
  
5:1,bitcoin is the winner absolutely .


Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little, we will translate 3-4 bitcoin news in China to English everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere translate not that good, pls PM us so that we can  correct it.
Source http://www.yibite.com/article-3514-1.html

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May 29, 2014, 09:24:10 AM
 #2

keep both and you are the winner  Wink

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May 29, 2014, 09:27:46 AM
 #3

keep both and you are the winner  Wink

Agree, 2 totally different things that cant be directly compared.

Also what would you rather hold and look at, a box on the screen showing a few digits or some of the shiny stuff Wink

My coin stash to date, bars are stored elsewhere.

1/4 2013 Canadian Maple
1/4 2014 Chinese Panda
1/10 2013 Australian Kangaroo
1/20 2013 Year of the snake
1/4 2013 Krugerrand
1/4 2013 Philharmonica
1/4 Gold eagle
1/2 of Proof Angel
1/4 Britannia
1/10 Lunar Dragon
1/10 Lunar Horse
Valaurium gold note - miners
Valaurium gold note - prosperity
Valaurium gold note - santa
1/10 Lunar Rabbit
1/4 2009 Chinese Panda
1/10 Lunar Mouse
1/10 Lunar Tiger
1/10 2005 Chinese Panda (mint sealed)
1/10 2005 Chinese Panda (mint sealed)
1/10 2005 Chinese Panda (mint sealed)
1/10 2005 Chinese Panda (mint sealed)
1/10 Lunar Snake
1/10 Lunar Ox
1 oz 1986 Panda
1/2 oz 1986 Panda
1/4 oz 1986 Panda
1/10 oz 1986 Panda
1/20 oz 1986 Panda






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May 29, 2014, 11:30:32 AM
 #4

If the power or the Internet goes down or just decide to move rural Wales, my gold is still gold and has a value, my bitcoins will hanging somewhere in the virtuality until I can find a McDonald's. So gold wins. If someone in the wild finds a way to hack the bitcoin protocol my BTC will worth zero (unlikely but could happen). Gold wins again. If you have to make a business with a gold-bug who doesn't care about bitcoin... gold. If I want to give a gift to my wife... gold. If the Blackwater guys in Ukraine get drunk and/or stoned and mix the freedom fighters with the 4th Guards Division then no difference, but molten gold coins looks better than a charred laptop Smiley... gold again.

As you can see it depends on the situation. So diversification wins.
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May 29, 2014, 11:43:50 AM
 #5

keep both and you are the winner  Wink
yup, and im focused on just bitcoin, but this above is win win
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May 29, 2014, 01:10:21 PM
 #6

I'm currently investing 75% in bitcoins and 25% in gold, as Snail said "diversification wins",
but bitcoin have much more room to appreciate in value.

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May 29, 2014, 01:43:10 PM
 #7

I would say invest 80% in gold and 20% in bitcoin. If bitcoin tanks, you will still have 80% of your money. Or if bitcoin skyrockets, 20% of your initial investment may very well be worth 1000% or more considering what has happened in the past.

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May 29, 2014, 09:01:38 PM
 #8

get both and you are it.


Vintage4X4
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May 29, 2014, 09:16:58 PM
 #9

I love to collect both but when I was a teen, I love to collect the Royal Canadian Mint Coins. Many of them have great value especially their 20 for 20 series. They are always sure to increase and if not, you will always be guaranteed your money back as you can go to the bank and return it for $20, the price you bought it for.
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May 30, 2014, 12:41:30 AM
 #10

...

Clearly it is better to own both Au and BTC.  How much of each?  That's up to you.

When you decide on further diversification, at least in financial assets, I would suggest platinum or palladium (even before silver).  Pt and Pd are for optimists!  Those metals will do just fine if the world advances as we hope.

Au and BTC in case things get bad...
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May 30, 2014, 08:06:04 AM
 #11

keep both and you are the winner  Wink

Agree, 2 totally different things that cant be directly compared.

Also what would you rather hold and look at, a box on the screen showing a few digits or some of the shiny stuff Wink

My coin stash to date, bars are stored elsewhere.

1/4 2013 Canadian Maple
1/4 2014 Chinese Panda
1/10 2013 Australian Kangaroo
1/20 2013 Year of the snake
1/4 2013 Krugerrand
1/4 2013 Philharmonica
1/4 Gold eagle
1/2 of Proof Angel
1/4 Britannia
1/10 Lunar Dragon
1/10 Lunar Horse
Valaurium gold note - miners
Valaurium gold note - prosperity
Valaurium gold note - santa
1/10 Lunar Rabbit
1/4 2009 Chinese Panda
1/10 Lunar Mouse
1/10 Lunar Tiger
1/10 2005 Chinese Panda (mint sealed)
1/10 2005 Chinese Panda (mint sealed)
1/10 2005 Chinese Panda (mint sealed)
1/10 2005 Chinese Panda (mint sealed)
1/10 Lunar Snake
1/10 Lunar Ox
1 oz 1986 Panda
1/2 oz 1986 Panda
1/4 oz 1986 Panda
1/10 oz 1986 Panda
1/20 oz 1986 Panda

http://i.imgur.com/RbeSUuj.jpg
Waw, Impressive.
Gold have a long story from generation to generation, and gold always story in all Scripture
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May 30, 2014, 10:25:56 AM
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here in sydney, gold gets the girls wet.
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May 30, 2014, 12:05:10 PM
 #13

Hmm I wonder why silver is not talked about, when it has more practical uses than gold?

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May 30, 2014, 12:07:10 PM
 #14

gold always will be.
how do you spend bitcoins with no infrastructure or power?

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May 30, 2014, 12:22:23 PM
 #15

If the power or the Internet goes down or just decide to move rural Wales, my gold is still gold and has a value, my bitcoins will hanging somewhere in the virtuality until I can find a McDonald's. So gold wins. If someone in the wild finds a way to hack the bitcoin protocol my BTC will worth zero (unlikely but could happen). Gold wins again. If you have to make a business with a gold-bug who doesn't care about bitcoin... gold. If I want to give a gift to my wife... gold. If the Blackwater guys in Ukraine get drunk and/or stoned and mix the freedom fighters with the 4th Guards Division then no difference, but molten gold coins looks better than a charred laptop Smiley... gold again.

As you can see it depends on the situation. So diversification wins.

I honestly believe that we are so dependent on technology that if the internet goes down, gold won't even be worth anything.  If the internet goes down, that means no electricity and no utilities of any kind anywhere.  At that point I wouldn't trade a gun, bag full of food, and medicine for even a handful gold coins.  Gold coins aren't going to feed or protect and sustain a person for very long. 

If it was 30 years ago before tech became integral in our lives, yes, I would say gold was the way to go.  Not right now.  I know lots of teenagers that would much rather have a $700 smartphone than a $700 gold chain.  In fact if it was an either or scenario, I don't even know one young person that would take the gold chain over a smartphone.  Gold just isn't valuable to young people anymore.

I think Bitcoin is the clear winner.

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May 30, 2014, 02:14:26 PM
 #16

As a currency gold is better in every conceivable way, but gold has that worthy intrinsic value. I get the comparison, but I think it's silly comparing them as they're two entirely different things.
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May 30, 2014, 02:23:24 PM
 #17

I think bitcoin wins. Most people wont realise it yet but they hopfully will eventually.

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May 30, 2014, 02:27:14 PM
 #18

i dont like hoarding space waster

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May 30, 2014, 02:30:23 PM
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Hmm I wonder why silver is not talked about, when it has more practical uses than gold?

What does it have that gold doesnt? I guess everybody sees silver as second best to gold.

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May 30, 2014, 03:23:41 PM
 #20

I honestly believe that we are so dependent on technology that if the internet goes down, gold won't even be worth anything.  If the internet goes down, that means no electricity and no utilities of any kind anywhere.  At that point I wouldn't trade a gun, bag full of food, and medicine for even a handful gold coins.  Gold coins aren't going to feed or protect and sustain a person for very long. 

If it was 30 years ago before tech became integral in our lives, yes, I would say gold was the way to go.  Not right now.  I know lots of teenagers that would much rather have a $700 smartphone than a $700 gold chain.  In fact if it was an either or scenario, I don't even know one young person that would take the gold chain over a smartphone.  Gold just isn't valuable to young people anymore.

I think Bitcoin is the clear winner.

Who cares about young ppl? If someone would take a $700 smartphone (what will worth only $500 after three month and fity bucks on ebay after a year) over a $700 piece of gold will deserve the worst fate Smiley.
Gold will always worth something. You can always sell it to the nearest jewelry if needed and even in a SHTF scenario you can go to the local farmers and you will have a chance to exchange your wedding ring to a bag of potatoes Smiley. Until people think that after the crisis everything gonna be alright again they will accept gold. Not quite so sure about smartphones and paper wallets.
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