Topic: Anybody here sell their Gold to buy Bitcoin? - page 9. (Read 1368 times)

Well, I thought it was very clear right from the first sentence of my post that price and adoption are imo the two things BTC has yet to beat.

This depends on someone's long-term vision and I am certainly not the person qualified to give financial advice. For me, BTC and Gold are the perfect collapse insurance combo yet many others would contradict me. And I see why - hence why my post is half-pro, half-anti BTC. If someone takes their life savings and invest them into something a complete stranger recommended them to, then I think they are bound to lose their savings at some point anyway after viewing some random YT video predicting fortunes out of nothingness. At least I'm not biased.

I contradict you here, history would as well. I don't say it's easy to find & seize, but it's easier to find and seize precious metals than finding and seizing a Bitcoin seed would be.

Leaving the existence of this pandemic aside, had I asked you 2 years ago how easy taking away the right to freedom is you would probably reply the same. Well, look how easy it is now. For the good of everyone else or not, it happened so why would the confiscation of gold not?

Gold does not have deflation of supply like bitcoin. Bitcoin has block reward halving each four years that makes noise on the media. Each four years, bitcoin has a big growth. Gold does not have such supports.

They are good for your investments but consider the deflation and noisy news, bitcoin will be better for you. Better with bigger margin of profit for your capital. The bitcoin market does not have limits for daily volatility and it is a younger market than gold's. Younger brings more opportunities and risks.

Thank you all for your input!
There is much knowledge in this thread.
I am new to the Bitcoin investing, but not new to investing overall.
My investments are pretty well rounded.
My outlook on Gold has been negative to be honest.
I was buying big amounts back when it was $800-$1100 an ounce.
I'll be making a profit if/when I sell.. but wow.. 14 years to basically double my money.

Perhaps I've been watching too many Michael Saylor videos ( Hahahaha ) and such on YT
and I'm ready to go even BIGGER into Bitcoin by selling my Gold.

I "feel" that Bitcoin could double in a years time.
Looking at charts would indicate an upward trend and knowing that the major institutes are more and more getting on board is a
good sign.. not to mention sports figures, celebrities, musicians, stores etc etc.
Bitcoin is hitting mainstream thanks to the last year of returns.

I guess I'll have to do some more mulling over this.

I think sure, I mean most of the people think bitcoin is better than gold, also if you think just about the profit it's obvious that profit in bitcoin is a lot higher.

For sure a lot of investors than know bitcoin and gold is going to hold bitcoin than gold in the long run because of the higher profit even though you could consider it as a lot riskier than gold.

Some investors I guess then are not really into bitcoin stuff or just don't like blockchain technology would probably just go for gold because it's a good investment as well.

Never owned a single gold but investor of bitcoin.
Don't you have any other way of buying bitcoin? like from a portion of your savings or you can allocate an amount and do the DCA strategy for you to keep on purchasing bitcoin whenever you've cash on hand? I would love to keep both if I have gold in my possession and wanting to invest in bitcoin. As you've said, you know it's hard to let go. Make sure that you won't have any regret when you dump your gold for bitcoin.

Well, all matters of where you live --if bitcoin is not prohibited in your place that is also a good sign to change your gold into bitcoin.
There are various pros and cons to this, you can store bitcoin in a safe place without worrying about this potentially safe or not as long as you have a private key and store it in the right wallet. You can buy bitcoin as much as you can but when it comes to gold, you can never buy gold without knowing your government. If I am OP, I will do the same, bitcoin is the best asset to store in the long term.
However, why makes things complicated if you can choose both of them as your investment, you can sell half of your gold and then invest in bitcoin.

I have read on many threads in this forum that people who are into Gold now go for bitcoin, just be economic in your decision about both, be rational about the two variables here. I am not into Gold but I will tell you investing in bitcoin will never be a wrong choice for you to make.

You tend to confuse price with adoption.
If you really think Bitcoin has surpassed gold in terms of adoption then you are very much mistaken. In India alone, for example, the majority of women own gold because it is their culture. They alone represent perhaps more than all the users of BTC.
A lot of people own gold but don't shout it out in the street because that's the kind of thing you don't tell anyone, even some friends.

In terms of adoption, Bitcoin is very far to eat gold.

In any case, the increase in value has little to do with it.
Gold and Bitcoin have differences such as volatility, and you don't invest in Bitcoin for the same reasons you invest in gold.
There are also many more risks with Bitcoin. An investor as a "good father" does not have much interest in investing a large percentage of his portfolio in Bitcoin.
Depending on your age you have different risk profiles that you can absorb
A young person might invest 30% in Bitcoin and 5% in gold, while an older person might invest 30% in gold and 5% in Bitcoin (or any other market considered risky).

Gold is not something easy to seize unlike what you say. It's a matter to choose wisely how to 'hodl' your gold. In the same way, you need to choose wisely how to 'hodl' your BTC (i.e. not using a 3rd party).
All the persons I know, including myself, have their gold with them at home or in a safe place. How could it be seized? The government or a governmental institution coming knocking at your home to say "Hey, you own some gold, we come to seize it" LOL, no way, it doesn't work like that

If you are going to ask my opinion, then by all means convert some of your gold assets to cryptocurrency - specially bitcoin. I think it would be a fantastic addition to your assets to have Bitcoin as one of your investments. This is not the end of Bitcoin, you will still be able to reach to new heights once you trade in Bitcoin and waited for that ATH again in a few years. You can simply store the gold and bitcoins at least you have diversified your assets and you won't be able to lose to both.

There is already some discussion about this, and it looks like bitcoin is "eating gold"
 

source: https://twitter.com/Schuldensuehner/status/1361944837742874631


Personally, I have very little of gold (about 1%) and much, much more of bitcoin (as bitcoin surged to new ATH every week in the last months)
I won't sell my gold.

I think gold is an asset that will always have value. It is the oldest asset we know, and even if bitcoin "eats" its marketcap, there is nothing to worry about imo.

Bitcoin is the digital gold, not the physical gold. Gold spot will not be taken by bitcoin, but most likely will the complemented by it.

I will have both

I don't have gold but having gold is also a way to safeguard your wealth when economic collapse the same as bitcoin. Exchanging your gold for bitcoin is not a bad idea, you will get more profit even if you sum up all your profits on those +14 years of having gold.

Imagine if you sold your 1 ounce gold on 2018 ($1200ish of 1 ounce of gold you will get 0.179 btc for $6700/btc that time) and exchange to bitcoin. 0.179 today is worth $10300.

Compare to gold from $1200ish somewhere on 2018 and today its just worth $1700ish. See the difference.

Besides market cap and adoption, Bitcoin has outright won the battle against Gold in my opinion. Just think about the increase in BTC's price in the last 12 months. Had you invested in BTC the money you currently have in Gold coins & bars, you would have afforded about ten times more Gold today.

As you say, Gold has its own advantages - especially the beauty of those coins and bars. But it truly depends on what your goals are. If you want to be protected in case of an economical collapse, then I think it's wise to have both Gold and Bitcoin in your portfolio.

Gold is easy to seize especially with today's tech - a Bitcoin seed could on the other hand be engraved in a wall and nobody would find out you have one lying in your house. Gold would work tremendously in case of an Internet shutdown - but Bitcoin would do an amazing job during an economical collapse since it would not need tests to check whether it's counterfeit or not. The coin becomes more & more legitimate the more confirmations a transaction has.

If I were to have a strategy, I would probably sell my Gold right away and purchase BTC with all the money. Within a matter of years, I really believe Bitcoin will at least double in price so any extra-dollar means the possibility of re-purchasing Gold at a much higher quantity!

On the other hand, I think a recession is very, very close. If we get into one soon, I am afraid people will feel much less secure owning Bitcoin than they would owning Silver and Gold. With that being said, Bitcoin might actually crash during a collapse (at least initially). If you need money urgently within the first few months of a recession, investing now in BTC as a safe haven might be a very bad idea.

Always remember that Bitcoin has launched during the last financial crisis. It has not gone through one yet for us to know what the outcome would be. Gold, on the other hand, is a known safe haven in case of global financial issues. Therefore, I believe the best strategy if you want a safer insurance is having both precious metals and cryptocurrencies.

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?