Topic: What are the pros and cons of gold compared to bitcoin? - page 2. (Read 407 times)

I considered this feature as a disadvantage considering how twisted the criminals here to something that has a tangible value. It's very hard to hold and secure these kinds of assets here unlike Bitcoin where you can be rich silently without having the danger of someone stealing your physical assets that have value. Now that we are digitally aged, we don't give important much whether our asset is tangible or not since there's already a lot of liquidity available on crypto that is locked via smart contract.

Bitcoin will always be better than gold for me due to its unique way of valuation.

Yeah right. And as you said that investing in both is not a bad choice which means it is a pretty good choice. It's just that I prefer if I buy gold not for investment but I do it to maintain the value of the assets I own. Because even though gold seems to have an increase in price from time to time, it actually takes quite a long time. But one of the advantages of gold is that they can maintain their value very well over time. Even gold can be said to be resistant to inflation. Gold also fluctuates but it's not that big. Maybe this could also be more valuable than gold compared to Bitcoin. In essence, I like both. Bitcoin excels in digital matters and practicality. Meanwhile, Gold excels in physical assets and in maintaining value.

right , it is depending on how we wanted our money goes on either to gold or to bitcoin
it is our choice  and our obligation to our own money.

same strategy in gold, a friend of mine is buying and selling Gold and yes this is her bread
and butter because he is buying all the auctioned gold in pawnshop(for cheaper price of course)
and yeah she i selling into much higher price.

but we can also use bitcoin for long term mate, we have seen that over the years so why
not try them both in long term preservation .

Yes, it's no surprise that in Forums there are always people discussing Bitcoin and gold and their respective advantages and disadvantages, but of course everyone will have different opinions about this.

Personally, I consider gold to be a store of value asset because investing in gold does not have much profit but the risk is not too high because there is a lot of demand for it and it always increases from time to time and also if for example the internet goes down we will still be able to sell it because gold has a physical form and of course Gold is a valuable asset and I personally also invest in gold, even if only a little.

However, for me, Bitcoin is a valuable asset whose price will have the potential to rise in the future because the number of Bitcoins is limited and there are many interested people, but I personally also invest in Bitcoin because in my opinion, in the digital era like now, it would be a shame if we were not involved in Bitcoin, but of course for those who are ready to take the risk.

Bitcoin for me has many benefits because we can make a lot of profit from investing in Bitcoin, but the risk of investing in Bitcoin is very high because the price fluctuates and sometimes if there is negative news the price always goes down so in essence the risk is high but the benefits are also high because it can produce big profits. .

So the point is to buy Bitcoin you have to use money that is ready to be lost, but if you buy gold, of course you can use any money, as long as it's your own our money.

I doubt that an overflow in gold supply would make it less valuable than it already is, humans are shiny loving goblins so I don't think that gold being a shiny metal would ever be a thing that would be of less value to a human. Definitely the thousands of years of history is a helpful in establishing gold as better than bitcoin but given the value and potential that's on bitcoin in just a decade, it's not a bad idea to consider bitcoin as a better investment than gold. Bitcoin might not be a good store of value but if you're in it for the long-term, you're probably not that worried about the short-term price fluctuations.

The "tangibility", of gold, is a mixed blessing, as you put it. Yes, instant recognition boosts confidence.  However, most people cant securely store much gold. Bank vaults? This reliance reduces decentralization. Home storage? What a recipe for insomnia.  Bitcoin, though ethereal, may now be safeguarded by cryptography. A hardware wallet and a secure seed phrase provide unmatched financial sovereignty - the kind of "tangibility" that matters today.

For those without bitcoin, its transitory. The internet was originally considered a craze. Bitcoin is a revolution in value storage and exchange. Progress may challenge old-school investors with fixed ideas. Understanding will become as common as recognizing gold when the technology evolves and acceptance expands.  Will the naysayers adjust swiftly or be left behind clutching their bullion while the world marches on?

The biggest advantage of gold is that it has thousands of years of history behind it, and we know that unless its supply suddenly becomes overflooded, it won't drop in value much. But Bitcoin's value is not understood by anyone, it goes up and down, and so far the long-term trend has been positive, but it could just as easily reverse. To put it simply, Bitcoin is many times more risky than gold. That's why Bitcoin is not a reliable store of value right now, but rather a high risk investment.

Exactly the Gold doesn’t have the ROI that bitcoin possess in a very short period of time and that’s why some people go for it sometimes Instead of gold. Another reason why some people prefer the bitcoin is because with a substantial amount of Money (little amount) you can get it and also buying bitcoin and storing is a lot easier than gold. So many exchanges one can easily get it online and also many reputable wallets to help store it without third parties like banks for gold.

Aside this things I will say the best method is to diversify your portfolio and Gold is the best asset to diversify into as it provides more stability and also an hedge against inflation which is better then diversifying into fiat currency

This topic has been brought up on the forum at least a million different times at this point.  Gold and Bitcoin are two entirely different things and comparing the two I'm not sure does much good.  I mean there's nothing wrong with comparing the two, but it's important to know that one is not a replacement for the other.

Gold is a physical precious metal, it's used for jewelry, auto-parts, electronics parts etc etc.  It's also a fantastic hedge for a portfolio, a much better hedge than bitcoin. 

Bitcoin is a digital currency.  It's not a great hedge (not yet anyhow) and it's not used for real world physical purposes.

  If I want to buy an ounce of gold, I can easily self-custody that amount. However, if I wanted to buy 100 or 1,000 ounces, I would have to store that amount with a bank or third-party for feasibility and increased security. However, with Bitcoin, I can self-custody any amount of bitcoins with a wallet that only I have access to and that is secured by cryptography. Many stories throughout history exist where one’s own country or an invading country steals the citizens’ wealth that was stored in banks. Bitcoin doesn’t need banks. You can own and secure it independently.
  Ultimately, I like both Bitcoin and gold. Both are non-state monies that protect people against fiat currency debasement. Both are bearer assets. Both are hard to create and incredibly scarce. I believe Bitcoin improves upon several of gold’s properties (scarcity, transmission, fungibility, divisibility, etc.), and as an investor, I think Bitcoin’s improvements will result in its eventual dethroning of gold in terms of market cap. For what is worth, I am very much in favor of cryptocurrency. Mankind has been at the mercy of control structures on the exchange of goods and services for vast portion of our existence. Governments, Banks, and Insurance organizations control the flow and exchange of currency and almost all transactions. They charge for every transaction and build into that charge their profit and overhead.

For me if we continue to compare gold with Bitcoin, I think we are all wrong in our judgment, be it in terms of investment, trading and other things, we all know that gold and Bitcoin are two very different elements, the advantages and disadvantages are very clear for both.

You can buy gold on one side/physically and gold has been used from century to century, as well as the buying and selling value, gold has nothing to do with the internet.
One side of Bitcoin cannot be touched, This is a sign of greater risk than gold, Bitcoin can only be used based on internet activity to access buying and selling.

So, I think if we compare gold and bitcoin, they are two different things, of all things, both clearly have real advantages and disadvantages for their users, maybe we don't need to explain too long about both.
For more details you can see it here: Gold vs. Bitcoin: Which Is Better?
Fact:

There is no need to explain in circles or compare them and deliberately favor bitcoin over gold. Let's be honest with each other, we prefer bitcoin because of the benefits it brings us. Profit, privacy, being our own bank... these are the reasons we will choose bitcoin over gold. Profit is probably the top priority because it is also the most prominent point when someone wants to compare bitcoin with gold. I personally own both because I need to diversify to keep myself safe since everything has risk.

Gold as an asset is the highest investment any individual can make because it always retains its value no matter how old or how long it has been in possession. Unlike BTC and the volatile nature of cryptocurrencies, in the which the price is up now and down tomorrow or the trends and signals have to be studied to ascertain the right time to trade or acquire some as asset.

I doubt there's any country in the world that doesn't accept or have gold reserve just like the USA which has the highest gold reserve and won wars a time past due to the fact they had enough in possession to sustain it.

+ Gold can be bought or sold without internet connections and with less technicalities. You just need a scale to check its weight and the transaction can carried out with ease.
+ It is also very popular which makes it easy to be sold or used as collateral for loans.
+ Gold is also less volatile than Bitcoin
+ Many physical industries utilize gold which makes it highly demanded.

+ Bitcoin is decentralized and cannot be totally regulated so hodlers can maintain privacy.
+ It can easily transferred from one person to another.
+ Bitcoin is divisible and can be easily sold or bought.
+It can easily be used to legally avoid tax since many countries don't tax it.

If you are comfortable with volatility, then go with Bitcoin, and if you prefer stability, then go with gold. I think Bitcoin can be suitable for either short or long-term investments depending on your investment goals. You can take profits by buying and selling, but of course, we know that this comes with risks and requires careful attention. If you simply want long-term wealth preservation, then gold is the way to go. I only have Bitcoin because I prefer its advantages over what gold offers. And I am aware of its cons.

The problem is that they are both objects of value just that Bitcoin is physical and gold has a representation in the stock market you look at gold has a financial history even before the introduction of money gold was used as money then, so gold will continue to standout when it comes to finance, and some countries even use gold in their country reserve, and I don't think bitcoin has gotten to that extent yet. and true gold is used for pieces of jewelry and others so if you look at the financial market gold is dominating very well. if not now that Bitcoin is gaining more ground people do not take Bitcoin seriously, especially in countries. and people don't scam gold since it is not associated with the internet it has saved gold from scam issues compared to Bitcoin so the way gold has its advantage the same way that it also as its disadvantages because you can also get rubbed and it can not be tracked. and if anyone is considering what to invest their money in then bitcoin and gold are not a bad idea to consider.

Regardless of what the OP or maximalist bitcoin investors say, the end result is that gold is many times larger than bitcoin in terms of market cap as well as demand. We should look at the results to evaluate instead of just giving flowery words just to flatter others because that doesn't make us richer or better.

Gold investors never compare gold with bitcoin or any other asset, but why do bitcoin investors like to brag and find ways to prove that bitcoin is better than gold? This is like having only servants compare themselves to others, while kings never compare themselves to anyone because they know no one will be better than them.

The more we compare and put others down, it only shows that we are weaker than them. Comparing bitcoin and gold has never and will never make bitcoin surpass gold.

First lets understand that Bitcoin is a digital currency with a total produced of 21million and also a decentralized non-custodial volatile currency that is not being regulated by any governments or authorities and can not still be manipulated by the miners While gold also has the potentiality of volatilities but unlimited and finites because its total produces would always remain uncertainty as the miners keep researching and discovering more of it.

So here, due to the limited number of Bitcoin and the unlimited number of gold, the scarcity of Bitcoin would always give it that high rate of advantages in values comparing to the golds.

Talking about security aspect, Bitcoin as a digital currency is stored on the digital storage which by no means would anyone knows that you have one or even total number of Bitcoin you have there in your wallet and it is highily less risky to attract thefts unlike gold that you must have it physically stored and so much risk of it leaving it at home or going about with it as it can be seen by anyone which can attract thefts.

And of it all, you would always attain the value increments of gold only when you sells it but Bitcoin increments in value is usually attained at any given time the market fluctuates.

I've never been a fan of the comparison of Bitcoin with Gold, it's never worth it as I earn my decent money from the two. Nevertheless, thank you for admitting that you are biased towards Bitcoin in your write-up which also shows that you are not a good investor but an opportunist for what Bitcoin has to offer and for what the Bitcointalk members like to read. Good investors do not have any emotion leaning on any asset against another, that's just against the rule. As it is, I will not be able to reply to all your irregular points, but I will do my best to answer a few important ones that caught my attention.

Bitcoin is never a substitute for Gold, the two are just different assets with different sources, models, structures and operations. Also, it is good to know that Gold is a compressed asset, which will never make it behave like Bitcoin which is not a compressed asset. This is why you see Gold adding trillions of dollars and may not move more than $300. This is what it has to pay for being a centralised physical asset, and such was done to avoid inflation of the precious metal. The track record of Gold is enormous, is it the age, its use as the world reserve and many more? It has survived the test of time but Bitcoin is still very young and time will tell more about the two. For your information, your Gold can be bought and stored online as well, it is not necessary for you to buy and own only physical gold before you own and benefit from it.

The DCA approach did not also start from Bitcoin, it started many centuries before Bitcoin and enough people had used it in Gold and other assets and kept their assets just fine.

Wait a minute, where do you DCA your Gold if not online for safekeeping? Do you even know what you are saying?

Both of these things are actually superior in their respective areas. I mean Gold is very superior in the physical world. And Bitcoin is very superior in the digital world. We know that our daily lives are actually never separated from Gold. Even the components in our gadgets also contain gold, the same goes for cosmetics and so on. And gold has the advantage of still being able to be bought and sold even if one day the internet goes out. But the drawback is in terms of storage and shipping. Imagine if we were to send gold worth 1 million dollars to another country. So it requires quite expensive costs. And we will also feel anxious during the trip. And the risk of getting lost in transit or something like that. In contrast to Bitcoin, which is very superior in the digital world, such as being practical for payments and sending between countries. Transactions are transparent and free from the risk of counterfeiting. Good for long-term investment and also easy to buy and sell without having to go anywhere, you only need an internet connection and we can connect with every buyer anywhere. The only downside is that if the internet goes out then... well you know the answer. Although some say they can send it via other methods. But still without the internet it would be a real downfall. And actually that's the only thing I'm afraid of. So I don't invest entirely in bitcoin or digital assets, I divide it by also investing in physical assets.