Bitcoin as a better store of value than gold - page 15.

VitKoyn

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Quote from: Wind_FURY on January 04, 2019, 02:08:30 AM

Wouldn't gold's physical nature be a real weakness because it could cause a "centralization in vaults" problem? How much gold can an individual legally own and store in your homes in your country?

Then there is Bitcoin. It is virtual, and it opens a world of private key ownership, and therefore, true sovereign ownership of private property which governments cannot control.

I agree that Bitcoin is better than gold in terms of store of value. Keeping or securing gold will need you huge and secured place which is very expensive, while you only need a cold storage for Bitcoin to be secured which will only cost you small amount of money and you only need to know how to secure it properly. When it comes on exchanging, Bitcoin is more faster and cheaper to transfer, you can send it overseas without waiting for days or weeks for the transaction to be done. Though there are still few online or offline stores that accepts Bitcoin which will eventually increase, which stores accepts gold as payment? I don't remember any.

erikoy

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Yes when it comes to store value bitcoin is better but in the long run. Gold has some attributes to which it could be better than bitcoin. The disadvantage of bitcoin in the long run is that its market price volatility. I could not really speculate well because bitcoin system has still a lot of things to prove compared to gold that has proven already its worth over the period of time.

dreamax25

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killat

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Bitcoin has the potential to become a virtual gold. In other for this to happen it needs first to fix 3 of the main constraints: scalability, volatility and adoption rate.

davis196

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Quote from: Wind_FURY on January 04, 2019, 02:08:30 AM

Wouldn't gold's physical nature be a real weakness because it could cause a "centralization in vaults" problem? How much gold can an individual legally own and store in your homes in your country?

Then there is Bitcoin. It is virtual, and it opens a world of private key ownership, and therefore, true sovereign ownership of private property which governments cannot control.

I don't know about any restrictions regarding the amount of gold stored by every individual.
For me,storing bitcoin (cold storage) and storing gold in a safe deposit box is kinda the same.
The only difference is that you can't store large amounts of gold,because it's heavy and it takes more space. Grin

Wind_FURY

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Quote from: demenBTC on January 04, 2019, 02:38:25 AM

Quote from: Wind_FURY on January 04, 2019, 02:08:30 AM

Wouldn't gold's physical nature be a real weakness because it could cause a "centralization in vaults" problem? How much gold can an individual legally own and store in your homes in your country?

most people in my country use gold as jewelry, there are still minimal people using it as an investment in real assets

Quote from: Wind_FURY on January 04, 2019, 02:08:30 AM

Then there is Bitcoin. It is virtual, and it opens a world of private key ownership, and therefore, true sovereign ownership of private property which governments cannot control.

yes, I agree that we have bitcoin as a hidden asset and tax free from the government, but the downside of the bitcoin wallet is still vulnerable to security from hacker attacks

That "downside" is hugely weakened or can be totally eliminated by using good security practices, and common sense.

Use this, it's an easy cold storage set up guide for newbies, https://bitcointalksearch.org/topic/easy-cold-storage-with-tails-linux-and-electrum-for-newbies-5086011

demenBTC

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Quote from: Wind_FURY on January 04, 2019, 02:08:30 AM

Wouldn't gold's physical nature be a real weakness because it could cause a "centralization in vaults" problem? How much gold can an individual legally own and store in your homes in your country?

most people in my country use gold as jewelry, there are still minimal people using it as an investment in real assets

Quote from: Wind_FURY on January 04, 2019, 02:08:30 AM

Then there is Bitcoin. It is virtual, and it opens a world of private key ownership, and therefore, true sovereign ownership of private property which governments cannot control.

yes, I agree that we have bitcoin as a hidden asset and tax free from the government, but the downside of the bitcoin wallet is still vulnerable to security from hacker attacks

BuyBuyBitcoin

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There is also a 10-15% markup for physical gold purchases. People actually storing it in vaults compared to getting the paper certificate for gold are rare. It's very similar to the central banks paper printing people are supposed to value.

Bitcoin you can actually own, hold and transfer fairly easily anywhere in the world.

Wind_FURY

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Wouldn't gold's physical nature be a real weakness because it could cause a "centralization in vaults" problem? How much gold can an individual legally own and store in your homes in your country?

Then there is Bitcoin. It is virtual, and it opens a world of private key ownership, and therefore, true sovereign ownership of private property which governments cannot control.

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