Gold was used for thousands of years, Bitcoin only existed for 10. It has a lot of advantages over gold, but also some disadvantages - Bitcoin can be stolen by malware, it fundamentally relies on the strength of modern cryptography, while gold relies on the laws of chemistry, Bitcoin can only be accessed via electronic devises.
It's good that they are bringing awareness to Bitcoin, every investor should learn about it, but there's no way Bitcoin will replace gold anytime soon. Gold will always be valuable, no matter what.
Topic: [2019-05-02] New Investor Campaign Calls to Prepare for Future, Replace Gold wit (Read 185 times)
May 03, 2019, 06:47:05 PM
May 03, 2019, 06:43:39 PM
The #dropgold ad I watched is a little silly. Silly people in Armanis running like they've never actually run in real life. I tell you, if someone gave me a cart of gold bars I'd take it instead of going to Grayscale to "buy Bitcoin" only so that they can "take care of it for me".
Their campaign is going a bit too far in my opinion. Gold and Bitcoin can coexist together, and in fact lots of people that I know 'invested' in both of them.
They should frame it as "own gold and crypto together for your future" instead.
Investing bith is much profitable but it's people choices what is the best for them, no need to argue which of them are most expensive the important is bith are valuable invest in the future but have different kind of quality.
May 03, 2019, 05:59:01 PM
I read the Forbes article earlier today, and it talks about Grayscale holding 1.2% of all the Bitcoin in circulation. Couldn't verify that myself, but does anyone know if they really have 176k++ BTC in custody? That's one big ass piece of whale even if they're only managing it for clients.
according to grayscale's website, there are 229,663,900 shares outstanding at 0.00098247 bitcoin per share = 225,637 BTC held on behalf of clients as of april 30, 2019. that's a lot of coin!
I tell you, if someone gave me a cart of gold bars I'd take it instead of going to Grayscale to "buy Bitcoin" only so that they can "take care of it for me".
brutal management fees too---investors in GBTC lose 2% per year in fees! all for the privilege of trusting someone else.....
May 03, 2019, 01:46:58 AM
I read the Forbes article earlier today, and it talks about Grayscale holding 1.2% of all the Bitcoin in circulation. Couldn't verify that myself, but does anyone know if they really have 176k++ BTC in custody? That's one big ass piece of whale even if they're only managing it for clients.
The #dropgold ad I watched is a little silly. Silly people in Armanis running like they've never actually run in real life. I tell you, if someone gave me a cart of gold bars I'd take it instead of going to Grayscale to "buy Bitcoin" only so that they can "take care of it for me".
The #dropgold ad I watched is a little silly. Silly people in Armanis running like they've never actually run in real life. I tell you, if someone gave me a cart of gold bars I'd take it instead of going to Grayscale to "buy Bitcoin" only so that they can "take care of it for me".
I actually have the same reaction myself. Why not give the gold to me so that I can sold them for some charitable activities and some investments? But then the message is that people should start now taking a look at Bitcoin and not anymore with traditional safe haven like gold. The new gold is here called Bitcoin though it is so volatile like hell (an opportunity as well as risk rolled into one). Still, it is good to see an ad focusing on Bitcoin and the many things it can do for all of us.
May 02, 2019, 03:47:02 PM
You see why their ads/promotion won't work? They are specifically targeting people who are holding Gold when they should be targeting people who are trying to get into new forms of investments. Most gold holders know very well about their position and I don't think that they will just sell all their previous metals just to buy a virtual currency I even doubt that they can trigger some kind of interest towards them with just by saying to drop their gold and buy Bitcoin as it is the “replacement” for gold.
May 02, 2019, 11:27:03 AM
I would object to the Limited supply part regarding gold. I came across an article saying that the U.S. Geological Survey estimates that there are about 57,000 tons of gold left to be mined. First of, I don't think it can be accurately estimated. And secondly, even if the estimation is more or less correct, the number itself is not that small. Considering that all the gold ever mined is totalling to around 190,000 tons, and taking into account that much of the gold used in smartphones and other electric apparatuses will be re-mined in the future, I'd rather say we have an unlimited supply of gold.
May 02, 2019, 11:18:23 AM
The #dropgold ad I watched is a little silly. Silly people in Armanis running like they've never actually run in real life. I tell you, if someone gave me a cart of gold bars I'd take it instead of going to Grayscale to "buy Bitcoin" only so that they can "take care of it for me".
Their campaign is going a bit too far in my opinion. Gold and Bitcoin can coexist together, and in fact lots of people that I know 'invested' in both of them.
They should frame it as "own gold and crypto together for your future" instead.
In the fast paced life of 21st generation, no one is happy with slow returns. Gold in last 5 years has hardly given 10-15% annual return. On the other side, we all know what wonders could Bitcoin and other cryptocurrencies do in 5 years. All investment companies try to attract more and more funds from public and one the easiest way to do so is by promising unreal returns to the investors. With crypto on side, these companies can deliver 100-150% targets to investors within 1 year. Such things are not possible with Gold.
For investors, yeah Gold and Crypto can exist together but for portfolio management companies, they always love to take risk!
May 02, 2019, 10:31:06 AM
The #dropgold ad I watched is a little silly. Silly people in Armanis running like they've never actually run in real life. I tell you, if someone gave me a cart of gold bars I'd take it instead of going to Grayscale to "buy Bitcoin" only so that they can "take care of it for me".
Their campaign is going a bit too far in my opinion. Gold and Bitcoin can coexist together, and in fact lots of people that I know 'invested' in both of them.
They should frame it as "own gold and crypto together for your future" instead.
May 02, 2019, 09:12:50 AM
The #dropgold ad I watched is a little silly. Silly people in Armanis running like they've never actually run in real life. I tell you, if someone gave me a cart of gold bars I'd take it instead of going to Grayscale to "buy Bitcoin" only so that they can "take care of it for me".
Their campaign is going a bit too far in my opinion. Gold and Bitcoin can coexist together, and in fact lots of people that I know 'invested' in both of them.
They should frame it as "own gold and crypto together for your future" instead.
May 02, 2019, 09:09:01 AM
I read the Forbes article earlier today, and it talks about Grayscale holding 1.2% of all the Bitcoin in circulation. Couldn't verify that myself, but does anyone know if they really have 176k++ BTC in custody? That's one big ass piece of whale even if they're only managing it for clients.
The #dropgold ad I watched is a little silly. Silly people in Armanis running like they've never actually run in real life. I tell you, if someone gave me a cart of gold bars I'd take it instead of going to Grayscale to "buy Bitcoin" only so that they can "take care of it for me".
The #dropgold ad I watched is a little silly. Silly people in Armanis running like they've never actually run in real life. I tell you, if someone gave me a cart of gold bars I'd take it instead of going to Grayscale to "buy Bitcoin" only so that they can "take care of it for me".
May 02, 2019, 07:59:35 AM
On May 1, 2019, Grayscale Investments, one of the largest digital currency asset managers, launched a provoking campaign
Since they handle "digital assets", Bitcoin is the obvious choice in their books.
Although I'd like to see more pro-Bitcoin campaigns, this campaign is more like "buy our products/services" and Bitcoin just happened to be one of the assets they handle.
What could I say? We are lucky they were not a company handling apples and oranges
May 02, 2019, 07:33:22 AM
Grayscale argues that Bitcoin is far better than gold. “That’s because Bitcoin possesses a superior composition of ‘good money’ qualities made for a digital global economy.”
https://bitcoinist.com/grayscale-replace-gold-with-bitcoin/
https://bitcoinist.com/grayscale-replace-gold-with-bitcoin/
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