Topic: Bitcoin as a better store of value than gold - page 14. (Read 20456 times)

precisely. both are very good investments, but risky. however, the potential of bitcoin is indeed faster compared to gold, however, gold has a smaller risk, and is stable compared to bitcoin. for now, I might prefer gold.

there is always a lot of people who want that "physical form" that they can touch and physically hold in their hands so that they can believe it exists. otherwise of course that is the least convenient thing not to mention risky.

a better term to explain what bitcoin is, is "digital" instead of "virtual".

Yes, right, Bitcoin is very volatile when prices rise and fall very sharply, so there are two possibilities, namely big profits and big losses. And when talking about the price of gold is likely to be stable, it's not too risky to invest in Gold, but if you want quick profits, I think Bitcoin is the place.

Gold are a good investment as the price are more stable and the other hand the price of bitcoin are very volatile this day and very risky but also very profitable if it hit a bull. So both is a good investment with it own risk.

Bitcoin and gold have their own advantages and weakness. Bitcoin as store of value more flexible and secure than gold, we can carry bitcoin without a lot space and its hack our bitcoin as long we keep our private key. Gold more accepted by most people because its already popular for centuries

In my country there is no restriction on the storage of gold at home. How much do you want so much and keep.Bitcoin is to some extent even better than gold,but the only drawback that bitcoin has is its volatility.I agree that since the emergence of bitcoin and to this day it has increased in price many times.Since I am an avid supporter of cryptocurrencies in any case,I would prefer to keep my savings in bitcoin, but ordinary people do not even know what bitcoin is and what prospects it represents.Therefore, it is easier for ordinary people to buy gold or put money in the Bank for dividends than to buy bitcoin.I hope many will come to their senses and begin to invest in bitcoin and not in gold.

Decentralized is more needed than anything in the world which everyone need for their personal life and government controlling the affair of people is over done and bitcoin gives that decentralized to people which makes it more unique tan gold and was very volatile too which some see as it disadvantage than gold .

From the point of view of the possession of their funds, bitcoin wins on all counts. In this case, you are sure that no one but you cant control your money and it's very good. But storing your funds in bitcoin is a bad idea. Because it is still very volatile and you may lose some of your money. But it's not bad if you use it for other purposes.

I agree with your opinion, using a volatile price as value store is so risky. Today it is not even 1% of the bitcoiners that store it without paying attention to the price. Everybody just wants to make more money. But the price of gold is more stable and if you are looking for the asset to keep your money safe, gold looks better.

I think they both have their pros and cons and it's purely has to do with our personal choices, a tech-savvy dude might prefer bitcoin over gold and whereas our older generation folks wouldn't trade their gold collection for anything but all in all they both store value and can be profitable in the future if you take the appropriate steps to keep them.

Bitcoin and gold have advantages and disadvantages, but both are assets that deserve to be owned. Bitcoin with a high value and you can use it wisely will bring good luck. Gold has physical and real but is prone to crime, each individual can have it according to their wishes and gold assets are stable.

Each has its strengths and weaknesses. For me we must be able to take advantage of every advantage that exists, gold is a good investment because it is safe and Bitcoin is an attractive investment because of the rapid rate of price increase. We can divide some portions of investment, what I do is invest in gold as much as 30 percent and 70 percent I invest in cryptocurrencies.

I don’t know if there’sa law here in my place that limting you from owning/storing gold that much, maybe we can own more as much as we can. The private key ownership with bitcoin is great and this is why the government are still on the resistance to adopt bitcoin since they cannot control it. For me, this is way better that gold and its so easy to have this and the function of bitcoin is not just as a storing value, it can also provides good system for an individual or even in a big company.

Gold and Bitcoin have advantages and disadvantages.

GOLD has the advantage that it is used for storing value since 6000 years ago. GOLD has the disadvantage that if you invested 10 dollars 6000 years ago , in today value you would have 20-30 dollars.

BITCOIN has the advantage that if you invested 10 dollars in it, 10 years ago, you would have 20 000 000 dollars today. BITCOIN has the disadvantage that it is used to store value since 10 years ago.

Volatility is a complex issue imo. Atm Bitcoin is still being viewed as speculative asset I believe, therefore most people try to join the ride and be a millionaire in one night. If Bitcoin get more acknowledgment, this volatility should decrease. But because inflation is part of the fiat system, the price of Bitcoin could rise annually, assuming more people value Bitcoin more and more.

Bitcoin has better advantage compared to gold in term of flexibility, you can exchange it without going out from your house as long as you have connection to the network. Bitcoin has the potential to beat gold, let's give it some time.

Bitcoin still has its own weaknesses. It remains very new and experimental compared to gold which was around for thousands of years. There's no guarantee that Bitcoin won't get replaced, that there aren't any hidden major flaws (just in the last year a dangerous bug was found, we just got lucky that the good guys did it first), that the underlying cryptography is 100% secure. And being digital is a disadvantage in scenarios like nuclear war.

But overall, volatility remains the biggest weakness, if not for it, Bitcoin would be very competitive with gold, because all the factors that I've mentioned are very unlikely to happen.

I'm not familiar with our law regarding this because I don't even hold any gold but AFAIK there's no limitation. And our country is still in that era where treasure hunters are exploring unvisited places and miners keeps on digging our mountains.
This. We all like this, we can be our very own bank.

Gold is only the most common store of value. In the history there were also gemstones or diamonds used as store of value. I think that silver was also before gold.
And nowadays platinum an palladium are also used as store of value.


Bitcoin has 2 problems as store of value. One can be "fixed" with knowledge, the other should be fixed by the time.

One problem is its pseudo-anonymous nature. People may not be happy with the idea that the ones trying a bit harder may be able to find out how many Bitcoin they have; people get freaked out when big amounts of Bitcoin get moved around and so on. Of course, with some knowledge and taking care, one can make the Bitcoin not getting tracked to his identity, but many don't possess that knowledge, hence avoid Bitcoin for that task.

Another problem is the market fluctuation. If one faces the risk the value of his wealth can decrease 5 times (!) in a year, he won't be too eager to store value into Bitcoin. (I know that there's also the "risk" his wealth increases 20x in a year, but storing of value and speculation are not in the same risk category).
Don't get me wrong, I believe in Bitcoin and I think that after some more years such volatility may not be possible anymore. But until then we may not be entitled to advertise Bitcoin as a store of value. Not yet.

Bitcoin is not tax free, different governments and nations have different disposition to bitcoin and the digital market.
Bitcoin holders pay taxes in Canada and the USA, and most countries in Europe are looking for ways to regulate and profit from this growing market.

Bitcoin wallets are not a product of the bitcoin network, which has a very high security level.
One of the responsibilities which comes with decentralization is you are responsible for the safe keeping of your assets: wallets and exchanges you use.

Plus Bitcoin is provably scarce, gold is not.


But it's maybe because there was nothing better than gold, as a store of value, until Bitcoin came.

I know there are pros and cons to both, but which is truly better is open for debate.