Anybody here sell their Gold to buy Bitcoin? - page 5.

AakZaki

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Quote from: GreatArkansas on April 04, 2021, 11:27:54 PM

I also want to share a comparison of investment from Gold to Bitcoin by MicroStrategy.
Bitcoin really indeed outperformed gold since we all know how volatile Bitcoin is.
Gold for me now is already an old school, that's why a lot of people telling Bitcoin is the new gold, digital and new trend.

Bitcoin provides more advantages than holding gold. Even though the price of bitcoin is very volatile, but bitcoin has a lot of support that keeps the price going up.

The investment comparison clearly states that gold provides a small return but at a stable price and is a safe haven asset, while bitcoin provides multiple returns with high price fluctuations.

Bitcoin is indeed a new investment trend, many institutions and companies are starting to enter and invest in bitcoin.

molsewid

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Quote from: peterpanda on April 12, 2021, 01:13:04 PM

For gold, it is not profitable like bitcoin. If you think about bitcoin, price of bitcoin is increasing daily and it will grow more in future but gold isn't able to grow like bitcoin. I know some people who had already sold gold and other assets for investing on bitcoin. I hope, they will cut good profit from their investment.

Well for me both has a value but only differ on the approach of how the value approaches higher or lower depend on the demand. And it so happened that bitcoin has a fast paced of increasing the value and now were dealing on a value of $63,000 but if i have a gold i will surely save it for future pusposes guess I believe that gold couldn't be worthless even in future. Though is much more valuable when it terms of price today compare to gold.

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Quote from: The Sceptical Chymist on April 14, 2021, 08:12:02 AM

Quote from: Dr.Ona on April 04, 2021, 01:57:37 PM

Seems like Gold may be taken out by Bitcoin in a few short years.

Gold has already been taken out by bitcoin, though it's been a gradual process--and I'm talking about the increase in value over time for the past 10 years or so (since bitcoin was introduced). Gold had an amazing run-up to the top in 2011, but ever since then it's been kind of stale. And if you compare gold to bitcoin, it's way more than stale.

Indeed, comparing the two is a tedious thing. It only talks about options and how dare you take risks. Because the most basic and never changing fact is high risk high return. Gold is a good type of investment to secure assets with low risk of loss but the resulting returns are not as far as BTC and other cryptos. If you dare to invest your money in crypto yesterday as much as 100 $, now your money can be 172 $ in just 24 hours. Where is the rate of return that is up to 72% within 24 hours? nothing but crypto. But don't be surprised if your choice is wrong then your money can run out overnight. these two assets are not to be compared but to have as your portfolio.

The Sceptical Chymist

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Quote from: Dr.Ona on April 04, 2021, 01:57:37 PM

Seems like Gold may be taken out by Bitcoin in a few short years.

Gold has already been taken out by bitcoin, though it's been a gradual process--and I'm talking about the increase in value over time for the past 10 years or so (since bitcoin was introduced). Gold had an amazing run-up to the top in 2011, but ever since then it's been kind of stale. And if you compare gold to bitcoin, it's way more than stale.

But if you like your gold coins like you say you do, why not hold onto them? Buying bitcoin when it's at its all-time high has led a lot of people to lose a lot of money in the past, so that might not be the smartest move right now. Having said that, I do think bitcoin is going to go higher still, but that's just my unsupported opinion and I could be dead wrong.

And if you need a safe haven for your money, gold is the way to go, not bitcoin--plus right now the state of the economy is shaky at best, and you might need that safety that gold provides rather than the volatility that bitcoin is notorious for. But it's up to you; I fully understand the bitcoin fever that's been infecting everyone this year. Good luck!

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Quote from: goldade on April 13, 2021, 03:57:23 PM

I'd say sell some and not all of your gold to invest in bitcoin. It's called diversifying your investment assets. I have not seen anyone who got rich by investing in just one investment option. They all diversify in different options. I think you should do just the same in order to make the most of the bitcoin and gold market.

Yeah, diversifying is highly recommended in order to cover all possible investment opportunities rather than sticking with one and missing all others. This way if you sell your gold for the reason of investing into bitcoins, then I guess you are doing a right step.

For most people, gold must be an one of prominent investment opportunity for decades to centuries as per their family heritage. Those people must think about diversifying their portfolio so that they could fasten their networth as bitcoin is known for higher returns in n short term whereas bitcoin is stable for years (if you skip the recent growth of gold due to pandemic). Moreover bitcoin is nothing but digital gold and you could feel safer even by holding bitcoins like how are doing with gold.

goldade

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I think the question you should ask is how much gold do you have? The thing is, just like bitcoin, gold is another great form of investment and you'd also be making money that way too.
Personally, if you would ask me, I'd say sell some and not all of your gold to invest in bitcoin. It's called diversifying your investment assets. I have not seen anyone who got rich by investing in just one investment option. They all diversify in different options. I think you should do just the same in order to make the most of the bitcoin and gold market.

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Quote from: sulendra12 on April 11, 2021, 02:01:32 PM

I'm more into opposite side.

Having Bitcoin is really good and I already am having the benefits by just holding Bitcoin on my life. But I do feel like I need gold for my family as the backup money or "urgent" money incase something bad happen on Bitcoin. At least my money have been divided into 2 separate objects so I can manage it more carefully.

well that's a good idea.. But the opportunity with bitcoin is bigger than gold...see the difference between this assets, (the volatility and potential and the future) .. Seems all are favorable to bitcoin.. Even though let say investing in gold is safer than bitcoin.. Still not make sense as long as you're knowledgeable when it comes crypto currency. Wherein surely you will not gonna miss all the opportunity... All your time and effort are worth it rather than working with gold. Just saying..

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Quote

I also want to share a comparison of investment from Gold to Bitcoin by MicroStrategy.
Bitcoin really indeed outperformed gold since we all know how volatile Bitcoin is.
Gold for me now is already an old school, that's why a lot of people telling Bitcoin is the new gold, digital and new trend.

I agree with you, during the pandemic many gold investors made their final decision to join bitcoin investment because of the results they saw during the lockdown that took over 6 months in the country. Many investors are now seeing gold as slow and small profit making because of what they are enjoying in bitcoin investment.

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Quote from: peterpanda on April 12, 2021, 01:13:04 PM

For gold, it is not profitable like bitcoin. If you think about bitcoin, price of bitcoin is increasing daily and it will grow more in future but gold isn't able to grow like bitcoin. I know some people who had already sold gold and other assets for investing on bitcoin. I hope, they will cut good profit from their investment.

This reason why I dislike investing on gold is not growing faster like bitcoin can raise higher price just one or two years, looking last year bitcoin still under $10,000 and now bitcoin success with all time higher above $61,000 and very fantastic if you hold and invest much money in bitcoin than gold, more faster profit earn by investing on bitcoin than you use your money hold in gold.

peterpanda

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For gold, it is not profitable like bitcoin. If you think about bitcoin, price of bitcoin is increasing daily and it will grow more in future but gold isn't able to grow like bitcoin. I know some people who had already sold gold and other assets for investing on bitcoin. I hope, they will cut good profit from their investment.

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Quote from: Xxmodded on April 12, 2021, 03:35:58 AM

Quote from: sulendra12 on April 11, 2021, 02:01:32 PM

~snipped~

If some one have know more with bitcoin brave and prefer hold bitcoin than gold, I know gold not stronger raise higher price bitcoin

I'm not talking about the "price", I'm talking about how people treat gold as their backup money or secondary money. It's up to you to treat gold for whatever you want, but I'm feeling happy with how I treat gold as my secondary source of financial backup.

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Quote from: sulendra12 on April 11, 2021, 02:01:32 PM

I'm more into opposite side.

Having Bitcoin is really good and I already am having the benefits by just holding Bitcoin on my life. But I do feel like I need gold for my family as the backup money or "urgent" money incase something bad happen on Bitcoin. At least my money have been divided into 2 separate objects so I can manage it more carefully.

If some one have know more with bitcoin brave and prefer hold bitcoin than gold, I know gold not stronger raise higher price bitcoin and see today bitcoin increase up more than $1,000. Maybe with gold never we see can up more than $1,000 just one day and only enough higher about 5$ is most higher, but still difficult how to make many people believe more worth invest using bitcoin than gold.

sulendra12

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I'm more into opposite side.

Having Bitcoin is really good and I already am having the benefits by just holding Bitcoin on my life. But I do feel like I need gold for my family as the backup money or "urgent" money incase something bad happen on Bitcoin. At least my money have been divided into 2 separate objects so I can manage it more carefully.

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There was a time a few days ago when the price of Bitcoin was low. I think at that time if someone sold all the gold they had to buy Bitcoin, they would buy Bitcoin and they would make a good profit. If we have gold, we can sell gold and buy bitcoin. It can be very profitable for us in the future.

cloirecrom

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Holding BTC is more precious than gold, just see the price history and compare it.

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Quote from: Dr.Ona on April 04, 2021, 01:57:37 PM

Anyone else here convert their Gold to Bitcoin?

There are many people here who convert gold and other cash to invest in Bitcoin and various altcoins, many of them achieve success and also many people lose all their money.
I myself used to sell gold to buy altcoins, but in the end I lost all that money.

Just some one wanna faced with bigger risk and earn much profit by convert gold to bitcoin, but many other else keep stay with less risk although little profit get, I think better convert gold to be bitcoin because have higher profit return and get with short time. For bitcoin you only need one year and earn profit more than 300% but you can't get it if try invest and hold much money in gold.

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Quote from: Dr.Ona on April 04, 2021, 01:57:37 PM

Seems like Gold may be taken out by Bitcoin in a few short years.

Thoughts?

I think bitcoin may be more valuable than gold but it will not be able to eliminate Gold. People around the world have trusted and used gold for thousands of years, gold has many uses from making jewelry to storing wealth.
Gold will not be disposed of by any currency.

J1mb0

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Everyone has different abilities and positions, so if you want to invest in this market it's best to make your own assessment.
The one piece of advice for you is never overinvest what you are willing to lose and don't invest on anyone's advice.

Wawa2013

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I have Gold but I will not sell it to buy Bitcoin. Because for me I have my own pride if I have Gold. And I will look for other ways to be able to buy Bitcoin,
no need to sell the Gold that I have. Because in my opinion it is better to invest in Bitcoin and Gold, rather than having to choose one. But everyone's
thoughts are different, no matter what choice we make, nothing is wrong. The wrong one may be that we don't invest in Gold or Bitcoin, because both
are the best assets to buy right now in my opinion.

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I have sold gold to obtain Bitcoin, but Digital Gold, it is a crypto project, it is the only gold I have sold, many years ago I had gold but unfortunately it was lost and another part was stolen from me without realizing it as well as my class ring .

Making the determination to sell gold to buy Bitcoin I see it as a good decision, the son of Peter Schiff did it, and Peter Schiff was surprised by such a decision, if the son of Peter did it, he has a father with a lot of experience investing in gold , most likely, he has learned a lot about him, and if he sold it, it is because he sees more potential in Bitcoin. Investment, purchase and sale decisions must be respected, in every operation there is always the risk of losing, although today if we see the Bitcoin chart and the number of gold investors entering to buy Bitcoin it is a point to consider that you have certain advantage.

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