Anybody here sell their Gold to buy Bitcoin? - page 8.

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

...Fun to look at.. older ones have a history to tell...

If you are a numismatist and your collection consists of rare coins, then it should increase in value over time, which can be commensurate with the growth of bitcoin. And it will be difficult for every collector to make the choice to part with their coins, unless in a special case. And if you think that such a special occasion has come, make your choice in favor of BTC, but never regret it again

Sterbens

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both of them are very important in securing your funds from economic collapse. And I thought if you could have both, why not. bitcoin is far superior to gold in terms of price, as one can consider the economic conditions, taking these two assets is very good.

because I don't have gold, the alternative is bitcoin, we will have a very hard time storing gold = 1 bitcoin at this time, and it needs to be kept safe. bitcoin is the same too, you need a hard wallet.
so both have the same profit side with different price values.

mu_enrico

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Quote from: Dr.Ona on April 04, 2021, 05:36:46 PM

I "feel" that Bitcoin could double in a years time.

What if your "feeling" is wrong? That's the purpose of owning both assets (or creating a portfolio), one as a hedge and the other more like speculation.
Regarding selling gold to buy Bitcoin, yes, I did it several times, back and forth. My woman still prefers gold tho.

iv4n

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Quote from: slaman29 on April 05, 2021, 12:02:31 PM

Hey and welcome to Bitcoin! I actually have never really heard of anyone going from gold to crypto, usually it's the other way around. Not that anyone puts ALL their crypto into gold but I know a lot of crypto people who also further diversify into precious metals with their newfound crypto riches:) Welcome again!

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!

RealMalatesta

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

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.

There would be nothing strange nor surprises because people might be preferring to switch into what is highly profitable for them. We have heard that many people are selling their home and properties for the reason of buying bitcoin then why not gold as well? Moreover, people must be believing in to bitcoin to be turning as new gold or digital gold which might be replacing traditional gold/fiats hence there will be no surprises for me when seeing people using their long term saving just for the reason of investing into bitcoins.

Recently I have come across a gif which shows what is highly profitable compared to other stocks and bonds for the amount of $1000 in last five years; bitcoin is topping on that list which must be the enough reasons why people are leaving gold for the purposes of having more number of bitcoins.

slaman29

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Hey and welcome to Bitcoin! I actually have never really heard of anyone going from gold to crypto, usually it's the other way around. Not that anyone puts ALL their crypto into gold but I know a lot of crypto people who also further diversify into precious metals with their newfound crypto riches:) Welcome again!

Kelvinid

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

Thoughts?

If you can find another way to get some money for Bitcoin investment, much better to do it instead of selling your Gold collections. That only if you have?
But if you don't value your collections anymore and wanted to make money out form them, then selling will the best option. That be sure that you are willing to do it, because if you are in doubts and still thinking what you gonna do. Maybe you have to think about the risk in Bitcoin investment.

You may have to clear your decisions, there is no need to rush and get into FOMO. Because once it already happens, there is no coming back.

ReiMomo

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If I were the one to decide, I guess it would be more strategic to diversify your portfolio instead.
You don’t need to invest and convert all of your gold coins in bitcoin in one snap. You can always test the water before you will put your both feet so you can stay standing.

I would suggest since you’re a new investor you should make your own test and studies first before deciding to move all of your golds here.
It will actually take you time to master the basics and totally get to know about Bitcoin. And I’m telling you, it is quite far from gold. So be ready, be it.

Viscore

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Yes, I have some gold but never have the plan to sell it just for Bitcoin. I'd rather have to keep it until I was really in need of money. I invest both of them separately, it doesn't matter to me if Bitcoin is really profiting but having Gold is like you are building reputation and that symbolizes wealth. And have to keep it.

Maybe the others will think isn't a good idea but never have to argue with them because that was what I think is the right thing to do. We are never sure that Bitcoin will drop in the next few months and that to have Bitcoin this time is a risky thing. Having Gold is the safest way to store our money.

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

I think so too, selling gold for Bitcoin was one of the right decisions and not a bad thing. If you choose to become a holder, I think Bitcoin will be quite promising in the future. Because if we look at the development of bitcoin prices from year to year, the increase is much faster than when we invest in gold. Even though the price will decrease, a currency like Bitcoin can reverse its price to be stable or even go up in a fairly fast period of time.

Therefore, if you wish to sell your gold in exchange for Bitcoin, it can benefit you. But, my advice, don't sell all your gold in exchange for currencies, like Bitcoin. Because, if you have a problem or experience a loss when trading. You will not lose all your assets. You must have other deposits, like gold, to anticipate unexpected risks.

Shasha80

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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.

ethereumhunter

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With the bitcoin price now, I do not want to sell my gold (if I have gold) because the bitcoin price is too expensive and even if I sell my gold, that will only help me buy a small piece of satoshi. Maybe I will hold my gold for a long time like what I did with my bitcoin, and maybe I will give it to my children, grandchildren and so on.

I prefer to try to earn bitcoin from the other ways, including buying bitcoin using my other income, so I will still have two investment, gold and bitcoin, together. But you can sell your gold and buy bitcoin if you want because we are free to decide.

yhiaali3

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Yes, it is true. The gold ring has a beautiful sound in the ear and a beautiful glow in the eye, but what is the work of the world is constantly changing and you cannot preserve the old things always, this is like the difficulty of moving from living in the quiet countryside to the bustling city.
For me, I would like to keep both, Bitcoin is a profitable investment currency in the long run, but I cannot give up on gold because we need the tangible things so the best solution in my opinion is to split your money in half Bitcoin and gold.

ven7net

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

I believe that against the background of the growth in the price of BTC, it makes sense to invest in this crypto asset, but in order to sell my gold coins for this, I am not very sure that this is correct. Perhaps, if you do not have free money, and you would like to become the owner of BTC, you should sell some gold to invest in BTC, but I believe that this should not be a large amount. Of course, I, like others, cannot know 100% how to do better, but recently I read such a thought from one person, where he said that the dollar will rise now, in other words, within a certain time there will be active support for the dollar, gold on the contrary will lose in value. In principle, this is happening now, but after that everything will change and the price of gold will soar higher than the moon. At that time, he did not say anything about BTC, but earlier he also hinted that as a result, crypto prices could also collapse, which, in principle, we have already observed more than once. As for me, you can sell a little gold and buy BTC. Wait for more BTC growth and then sell it and buy even more gold.

proTECH77

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Many people sold their gold to buy bitcoin in 2020, to try bitcoin investment and to see how reliable it is to traders in the market. Many investors that took such risks in 2020 to invest on bitcoin, really enjoyed a massive profit in 2021 for them to believe so much on bitcoin investment than gold investment in this season of pandemic.

peterpanda

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Nothing is here to tension about that. You can go for selling your gold and invest on bitcoin. It is really a good decision from you and for this decision, you can change your life within some years. Gold is not able to rise like bitcoin. After some years, it will be very tough to buy good amount of bitcoin by selling gold. So don't miss the opportunity that you have now.

Anonylz

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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?

When you can really think deep about Gold and what it can be physical used for and btc what it can be physically used for, then you can determine when exactly Gold will be taken out by btc,
Am no fortune teller but I really doubt btc will be taking out Gold in the future except of course there will be physical Gold coins representing btc (in which case the presence of Gold still is required) or suddenly there won't be any Gold related commodities in the market Wink

(or perhaps melt some btc for that purpose)
In fact, it sound absurd to me. Stop measuring this two monetarily.

GreatArkansas

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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.

mk4

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Look. I totally get the appeal of having these gold shiny metals. I mean, it probably makes you feel wealthy, right? I'd feel the same. That's just something that bitcoin simply can't give.

But crap dude, taking a look at gold's chart, I would feel bad for holding gold. Take note, that if you really love your gold and you have sentimental attraction to it, you don't need to sell everything. Just sell enough to hedge your bets and diversify a bit.

crwth

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I don't think it will be taken out entirely, but many people might think that BTC would be even more valuable than Gold. It's not necessarily going to lose its value after so many years that it has had. It's still going to be valuable. You're not alone in that dilemma.

What I think you could do is that you could sell some and allocate it to cryptocurrency. Then you would have diversified to minimize your risk with the "possible" economic collapse due to the unlimited printing.

In that way, you would have the best of both worlds. Having the physical gold and the digital gold, which is BTC

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