Anybody here sell their Gold to buy Bitcoin? - page 7.

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Quote from: koang on April 07, 2021, 01:18:14 AM

There have been many debates comparing gold with bitcoin and analyzing which investment asset will be a better store of value but I think the debate on this subject is futile work
Gold and Bitcoin have their respective advantages and disadvantages, the two assets must be complementary assets to our investment portfolio. IMO

It is not a debate and we don't need to do that ever. What OP wanted to know is that if it is a good idea to sell Gold just for Bitcoin investment? That was not comparing which one is profitable and which not because both of them have a good market value. If I'm in that situation, I'm still not selling mg Gold but rather adding more. If I have to invest in Bitcoin, it should be another set of investments, and I don't want to sacrifice the others just for this. But instead, having them both is a great investment plan.

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Quote from: Dr.Ona on April 04, 2021, 12:57:37 PM

Hello Gang,
Long time investor/holder of Gold coins, new investor of Bitcoin.
I've been thinking about selling some Gold to buy Bitcoin.
I'm listening to the pros/cons of doing this and Bitcoin seems like the better asset to hold in the long run.

So..
Anyone else here convert their Gold to Bitcoin?
Kinda having a hard time parting ways with my coins.
There's something to be said about touching Gold coins.
They're heavier than you think..
They have a nice ringing tone to them when tapped.
Fun to look at.. older ones have a history to tell.

Maybe I'm alone in this feeling.. 14+ years of collecting coins is hard to let go, but ultimately I got into it to have an insurance in case
of economic collapse and security.. also to make a profit.
Seems like Gold may be taken out by Bitcoin in a few short years.

Thoughts?

If you are saying that Bitcoin adoption is increasing fast compared to gold then you are right because In past 1-2 years the gold investment has become low and gold prices have fallen from $56-$57k to $54k Because of the funds moving out of the gold market.The Bitcoin investment on the other side is increasing which In turn is increasing the prices to higher levels with market cap crossing $1 trillion in just period of 12 years.Bitcoin has surpassed gold in respect to prices but in market it's still far behind.

1)Bitcoin Price - $58k
Gold prices - $55k

Bitcoin Price > Gold Prices(They have achieved this mark with respect to price if gold)

2) Bitcoin Market cap - $1 trillion
Gold Market cap - $10 trillion

Gold Market Cap > Bitcoin Market cap

So we can say people are moving towards Bitcoin investments at huge scale and gold is becoming somewhat secondary option for investors who prefer to have some tangible and risk free investment for a longer period of time.But one thing is for sure that Bitcoin will surpass every financial assest in short or long span of time in every aspect so you must hold a btc in your portfolio without any doubt.

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Quote from: kram31 on April 06, 2021, 10:16:53 PM

Gold was one of the major assets in the whole word, it was already and ancient actually were up the present still useful in any form of business.
Having a gold as one of you assets is an advantage, so if ever I have gold, surely the 25% of it will goes to invest into Bitcoin, followed by the top 5 coins in cryptocurrency in which listed too at the coinmarketcap as well.

Good thinking but why altcoins when you have Bitcoin, Yes you may be in profits now if you did since BNB reached new heights from nowhere while the Bitcoin remains constant and unbeatable. I am also invested some savings of 2020 into gold but I am regretting about the decision now.

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Quote from: Darkelf11 on April 06, 2021, 11:55:52 AM

I never get gold instead I got bitcoins by just buying those coins into a friend who needs money on that day and after that I got my Bitcoin holding starts on the first time I didn't realize it comes profitable for the next coming years but right now can't imagine the prize for the another ATH.

It's good to home right now a bitcoin than the gold if we are talking get volatile cryptocurrency is the most recommended. It's not too late to join a ride so invest responsibly.

Well, of the two choices, bitcoin is more accessible and it doesn't have any connections to your government and you don't have to pay for a storage since you can be your own bank with bitcoin. I think that having a gold in your portfolio is something that you will do when that portfolio is big enough to have a big passive income stream.

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There have been many debates comparing gold with bitcoin and analyzing which investment asset will be a better store of value but I think the debate on this subject is futile work
Gold and Bitcoin have their respective advantages and disadvantages, the two assets must be complementary assets to our investment portfolio. IMO

I will never sell my gold just to buy Bitcoin and vice versa.
I only use Fiat money to invest in both

kram31

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Gold was one of the major assets in the whole word, it was already and ancient actually were up the present still useful in any form of business.
Having a gold as one of you assets is an advantage, so if ever I have gold, surely the 25% of it will goes to invest into Bitcoin, followed by the top 5 coins in cryptocurrency in which listed too at the coinmarketcap as well.

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Quote from: Xxmodded on April 06, 2021, 01:20:28 PM

I am looking for best way and most faster to increase my earning and investing, I dislike with gold investment because every yearn only raise under 5%, but you can try to hold and invest money on bitcoin just few minutes your money raise more than 10%, how come if you hold few years later and see how much profit get most faster than gold investment.

If based on profit or an increase in price, of course Bitcoin will be the choice,
but if based on strength and quality, Gold is better than Bitcoin

I personally believe more in gold when compared to bitcoin, but that doesn't mean I don't store bitcoin, at least from my portfolio, gold is around 50% and Bitcoin is only 30%.
I can't possibly crazy sell all my gold to buy bitcoin, the reason is not because of profit, but because of the safety and strength of Gold that is my consideration.

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Quote from: kolbalish on April 06, 2021, 01:15:19 PM

It's awesome. Although I don't have gold now. So there is no question of thinking about converting. I'm here to glimpse who is transforming and how much. I desire I also have Gold in the future and I will convert similarly. However, even if you do not convert, there does not appear to be much loss. Because gold is just as valuable and profitable as bitcoin.

Gold is a good investment and it’s not a must that you’re going to sell all your holes to invest in Bitcoin or any cryptocurrency, you can still have gold and also have Bitcoin and other cryptocurrencies. So, there is no need to be selling all the assets you own.

Before I started investing in Bitcoin I did sell all my gold’s, but I didn’t do it because I wanted to start investing in Bitcoin, rather I did it because I need the funds I invested in there to be used for a business I was about to start around then. So after I have started the business I used the remaining funds to invest in Bitcoin and that’s a good move that I took. I didn’t invest everything in bitcoins.

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I am looking for best way and most faster to increase my earning and investing, I dislike with gold investment because every yearn only raise under 5%, but you can try to hold and invest money on bitcoin just few minutes your money raise more than 10%, how come if you hold few years later and see how much profit get most faster than gold investment.

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It's awesome. Although I don't have gold now. So there is no question of thinking about converting. I'm here to glimpse who is transforming and how much. I desire I also have Gold in the future and I will convert similarly. However, even if you do not convert, there does not appear to be much loss. Because gold is just as valuable and profitable as bitcoin.

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I never get gold instead I got bitcoins by just buying those coins into a friend who needs money on that day and after that I got my Bitcoin holding starts on the first time I didn't realize it comes profitable for the next coming years but right now can't imagine the prize for the another ATH.

It's good to home right now a bitcoin than the gold if we are talking get volatile cryptocurrency is the most recommended. It's not too late to join a ride so invest responsibly.

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I can say that I have sold some gold to buy crypto back in the day. I had some laying around and I didn't need it, and it wasn't really profiting the way I hoped it would so I ended up selling it and buying bitcoin with it.

It wasn't much amount (like about 470 dollars or so) which is why it wasn't a big deal, not like I sold pounds and pounds of gold to get into bitcoin, so I do not know if mine would be considered a good example, maybe I am not the person we are talking about and richer people are the aim here, but if we can accept small amounts I did it. I wasn't really feeling gold, not even if it made me profit because I didn't really liked the logic, gold never really looked like something that would worth money for me, which is why I ended up selling it, even if I didn't get into bitcoin, I would have sold my gold anyway and get it into stocks or something instead.

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I don't think that gold can be replaced by bitcoin since we all know that gold has an intrinsic value in itself. There is no one who don't know gold and its value, more than that gold can be used as jewelry to be used for some people, especially women and this is what will make gold always the first choice for every investor.

Comparing to bitcoin, there still many people who don't know bitcoin and its value even millennials still don't know the characteristics, especially the use of bitcoin itself. This is what will make bitcoin known only to some people, especially investors, for those who are less interested in investing I think it will be difficult to get to know it.

As for your concern, I guess you have to try it. You can sell some and buy bitcoin, the best investment don't put your egg in one basket, yeah you will often heard that term.

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Not only The Gold even I did not invest any of my pocket money to invest in bitcoin/crypto. I only invested some of my earning money. But yes If I would have some Gold (not little amount) I may try to invest it in bitcoin. It's because bitcoin is more profitable that Gold. And to be honest Bitcoin is for the risk taker investors, and Gold for those investor who afraid to invest in crypto.

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Quote from: doomloop on April 06, 2021, 09:04:01 AM

Quote from: imstillthebest on April 06, 2021, 07:49:37 AM

btc can surpass golds value but not its other characteristics

What other characteristics/values of gold that you are bothering? In my understanding, gold cannot be transmitted smoothly and securely like how we are transacting bitcoins. It means bitcoin has already surpassed gold in such characteristics. Probably you are referring worldwide momentary of transaction? I believe one day all the countries will be accepting bitcoin as preferred momentary of exchange, I am very much confident about that.

hi bro thanks for asking but you are right about the transmition and the security .
btc wins over that and i dont mean momentary of transaction but it was the physical appearance of gold coin ,
its shiny and it has a crisp sound if drop and it has a history like how op described but i remember that there are also btc inspired coins but they are not officialy made by its founders .

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Quote from: imstillthebest on April 06, 2021, 07:49:37 AM

btc can surpass golds value but not its other characteristics

What other characteristics/values of gold that you are bothering? In my understanding, gold cannot be transmitted smoothly and securely like how we are transacting bitcoins. It means bitcoin has already surpassed gold in such characteristics. Probably you are referring worldwide momentary of transaction? I believe one day all the countries will be accepting bitcoin as preferred momentary of exchange, I am very much confident about that.

Quote from: geegaw on April 06, 2021, 07:05:33 AM

at a lower price, selling gold to buy bitcoin is a good option but right now, keeping the position is still a good way to avoid risk

Yeah, right bitcoin prices has grown to big levels and right now trying to buy more bitcoin by selling gold may not be an option for many people including myself. But for the people who are strongly believing into $100k or $150k levels for bitcoins, might be thinking that must be a right approach.

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i dont own gold coins but i can imagine the satisfaction the way you describe it .
it makes wanna try and own one gold coin , dont let go all of your gold coins but keep some to have a stress reliever . your not alone to have this feeling and you feel this because 14 yrs of holding is long. it will be hard for you if you shock your self by selling all your coins but you can do this slowly .
btc can surpass golds value but not its other characteristics

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Quote from: Shasha80 on April 05, 2021, 03:40:12 AM

I believe that with the Bitcoin price reaching the ATH price of $ 61k, many are selling their gold to buy Bitcoin. That is indeed a natural thing that
happens considering Bitcoin's performance is better than Gold. Therefore I do the same, by selling some of the Gold I have to buy Bitcoin,
because I am also optimistic that investing in Bitcoin can indeed provide a greater profit than investing in Gold. But that does not mean investing
in Gold is bad, but indeed the profit generated if investing in Bitcoin is much greater.

You really surprised me with this option because I think that depending on our position in the portfolio, we will rely on that to decide whether to switch to another investment or to hold, that means if you bought gold at a good price, why would you need to sell it to convert to bitcoin at a high price? A change in position in your investment in this way can affect your profits, you can switch from a profitable person to a losing person, perhaps at a lower price, selling gold to buy bitcoin is a good option but right now, keeping the position is still a good way to avoid risk

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Quote from: slaman29 on April 06, 2021, 02:54:54 AM

crypto users who became rich, and then bought some gold to diversify their wealth. Like I said, I don't know anyone who sold gold for crypto.

Same here; I am one of such people who sold crypto for the reason of buying gold because as per our culture we value gold more which lead me to buy gold time to time not just for the reason of investments but to have as a social symbol/status. Our family members are happy when they are buying and wearing gold rather than what they are usually watching BTC prices in their wallet. I mean they are not bothering about the growing rate of bitcoin but they just look at the happiness when they are wearing gold.

I'm not ready to agree that crypto people need to invest into gold for the reason of the diversification. Because when you're holding bitcoin definitely we do not need any diversification as any other asset is producing good ROI compared to what bitcoin is doing as per last 10 years. Probably after some decades, crypto people might need to think about diversification.

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Quote from: iv4n on April 05, 2021, 12:35:27 PM

Let me ask you a question (and it's a question for all other members), how many gold holders you know?
I don't have gold, so I don't have what to sell... but I would sell that gold a long time ago for buying Bitcoin or some other crypto, and I guess many people here would do the same (some did it I guess). Here on forum, we are a special kind of people, we found a way (ways) to earn, and because of that we don't sell our material possessions for crypto (gold, cars, houses...)... but again we have some examples from people who did that, and they maximized their profits in crypto to the roof!
Everything comes down to what you believe in more... I am for crypto 100%, and I assume many others here feel the same! So if some gold appears I will sell it right away, without a second thought!

Personally, I only know of my own aunties and grandaunties who all hold physical gold. They literally go out every few years to buy a small amount of gold to stash. But online, I know of many more people who apparently buy physical gold online because they got wealthy from crypto. So these are actually, as I said, crypto users who became rich, and then bought some gold to diversify their wealth. Like I said, I don't know anyone who sold gold for crypto.

Topic: Anybody here sell their Gold to buy Bitcoin? - page 7. (Read 1387 times)