Bitcoin as a better store of value than gold - page 5.

LeGaulois

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Quote from: denzkilim on March 01, 2019, 06:58:13 AM

That's correct, gold has its own value on its own and it is not volatile like Crypto currencies, Bitcoin and other forms of Crypto currencies needs a stable currency to be able to create its value. Fiat is a stable currency used worldwide and without this, there will be no or it will be hard to determine the price of Bitcoin without pairing it to a stable currency. I think this kind of natures of both these assets is needed to make more balanced trading.

Totaly senseless...
- Bitcoin doesn't need a "stable currency" to have a value.
- Fiat is not determined to be stable. Take a look at the Zimbabwe dollar that worth nothing

denzkilim

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Quote from: sheenshane on March 01, 2019, 11:32:38 AM

Quote from: denzkilim on March 01, 2019, 06:58:13 AM

That's correct, gold has its own value on its own and it is not volatile like Crypto currencies, Bitcoin and other forms of Crypto currencies needs a stable currency to be able to create its value. Fiat is a stable currency used worldwide and without this, there will be no or it will be hard to determine the price of Bitcoin without pairing it to a stable currency. I think this kind of natures of both these assets is needed to make more balanced trading.

Bitcoin and gold are different stories. They cannot be compared and compete. The gold currency is a very great currency and asset compared to bitcoin.
Why?
Gold can be a piece of jewelry but bitcoin don't. What I can make sure is bitcoin is way better than the fiat.
Gold and bitcoin both considered as the best alternative currency for fiat and that's it.

But there are still downsides that can't be resolved, Bitcoin is really volatile and anything can happen in a matter of seconds or minutes, its price can skyrocket so high and it can also fall down to a dip. Didn't you know that Bitcoin isn't used as a currency? and it is used as an asset by every people in the crypto space and I don't think that it be used as a currency in the future because of the volatile nature of Bitcoin and sellers or merchants does not want a volatile payment for their products or services. Cheesy

qwertyup23

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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.

Both bitcoin and gold are different in terms of price, nature, and acquirement but they contain store of value. What makes bitcoin unique is its digitalized form without having any innate value but its price is significantly high. In contrast, gold is a precious metal and its supply is regulated and scarce. Although they may seem similar in some aspects, both cannot be compared to each other when identifying which is the better alternative.
In terms of an asset, gold may be better due to its stability in price; bitcoin is relatively better when on short/long-term investment due to its high-volatility.

Quote from: Irvinn on March 01, 2019, 01:19:26 AM

Quote from: Commitments on January 29, 2019, 02:20:12 PM

Maybe gold investment could change price about 4 until 6% every year, bitcoin have speculative price and could change just one day more than 50% but some time you will be afraid when bitcoin could be lower price just few moment,

It is because of its high price volatility that bitcoin is not a good means of storing value, which gold has been playing for centuries and millennia. Those people who invested their money in Bitcoin at the end of 2017 and lost their money were really convinced of this.

If you are looking for a good store of value, look for something that is stable in price and centralized/regulated. Compared to bitcoin, being a decentralized entity makes it price volatile and unpredictable making it not a good candidate for a store of value in the future. I would also argue that purchasing properties may be better compared to bitcoin in this aspect.

sheenshane

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Quote from: denzkilim on March 01, 2019, 06:58:13 AM

That's correct, gold has its own value on its own and it is not volatile like Crypto currencies, Bitcoin and other forms of Crypto currencies needs a stable currency to be able to create its value. Fiat is a stable currency used worldwide and without this, there will be no or it will be hard to determine the price of Bitcoin without pairing it to a stable currency. I think this kind of natures of both these assets is needed to make more balanced trading.

Bitcoin and gold are different stories. They cannot be compared and compete. The gold currency is a very great currency and asset compared to bitcoin.
Why?
Gold can be a piece of jewelry but bitcoin don't. What I can make sure is bitcoin is way better than the fiat.
Gold and bitcoin both considered as the best alternative currency for fiat and that's it.

denzkilim

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Quote from: millgates on March 01, 2019, 03:28:48 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?

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.

No, gold physical nature is the power of gold. Gold with it's physical has intrinsic value. We need gold to create some electronic components, it's not just a beautiful metal but it also usefull. But bitcoin still better than fiat money, bitcoin can be the number one alternative currency that accept by all people around the world although gold maybe become the main currency.

That's correct, gold has its own value on its own and it is not volatile like Crypto currencies, Bitcoin and other forms of Crypto currencies needs a stable currency to be able to create its value. Fiat is a stable currency used worldwide and without this, there will be no or it will be hard to determine the price of Bitcoin without pairing it to a stable currency. I think this kind of natures of both these assets is needed to make more balanced trading.

Atriark

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To be frank, the two things everybody expects when a new store or a thing is launched in the market. A price i.e appreciated by everyone means pocket-friendly and second, the volatility. It's obvious the cost of per Bitcoin is not so pocket-friendly but there are multiple options which are opened by the company like Atriark , thinks about the earning of a common man. With the growing age, the prices are increasing exponentially which opens the door of generating a higher revenue in a short interval of time.

TheCoinGrabber

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Both do have their uses. Problem with gold is that if you don't have it physically, you really can't say its yours. All you'd have is a certificate, making it no different from holding fiat. Of course you can buy jewelry and keep that at home but usually the price you'd pay is higher than the value of the metal you'd get.

Bitcoin is more volatile but as long as you have proper security practice, you can keep it yourself. It'll take a total destruction of the internet for it to become unusable. Also, the amount is fixed. This would be important once humanity become a spacefaring specie that can just mine metals from asteroids and such.

DarkIT

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Quote from: celot on February 28, 2019, 10:34:35 PM

Bitcoin have speculative price every time where we can get at higher price and we will faced bad moment just few time price could be down, always make investment at bitcoin than gold because bitcoin could get profit with short time investment.

for some people, especially those who understand this system, I think for them, it is more appropriate to invest in crypto than gold. however, I still think that gold is still better, even though it is still very difficult. but, in the easier case, I better use bitcoin for now than gold.

Wind_FURY

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Quote from: millgates on March 01, 2019, 03:28:48 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?

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.

No, gold physical nature is the power of gold. Gold with it's physical has intrinsic value. We need gold to create some electronic components, it's not just a beautiful metal but it also usefull. But bitcoin still better than fiat money, bitcoin can be the number one alternative currency that accept by all people around the world although gold maybe become the main currency.

Tell that to the German central bank who wants to collect their gold back that's being held by in the New York vaults, controlled by the Fed for "safe-keeping".

Plus how much from the total gold supply is used for making electronic components?

millgates

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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.

No, gold physical nature is the power of gold. Gold with it's physical has intrinsic value. We need gold to create some electronic components, it's not just a beautiful metal but it also usefull. But bitcoin still better than fiat money, bitcoin can be the number one alternative currency that accept by all people around the world although gold maybe become the main currency.

Bitcoindigger02

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For the Bitcoin, it has done well in the short term, but this excellent performance is accompanied by a huge downside risk. Businessmen who support Bitcoin payments face this downside risk unless they immediately convert Bitcoin into common currency in subsequent transactions. Even though the whole process theoretically takes about six minutes, it actually takes about two hours to convert Bitcoin into ordinary currency, one hour to confirm the transaction and another hour to confirm the price, during which time businesses may be affected by falling volatility. Permanent Bitcoin holdings may have tremendous room for growth, but at the same time businesses have to be able to accept downside risks. After all, businessmen should spend time and energy doing what they are best at - selling goods, not trading currencies and bitcoins.

Irvinn

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Quote from: Commitments on January 29, 2019, 02:20:12 PM

Maybe gold investment could change price about 4 until 6% every year, bitcoin have speculative price and could change just one day more than 50% but some time you will be afraid when bitcoin could be lower price just few moment,

It is because of its high price volatility that bitcoin is not a good means of storing value, which gold has been playing for centuries and millennia. Those people who invested their money in Bitcoin at the end of 2017 and lost their money were really convinced of this.

celot

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Bitcoin have speculative price every time where we can get at higher price and we will faced bad moment just few time price could be down, always make investment at bitcoin than gold because bitcoin could get profit with short time investment.

iMark

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Quote from: Commitments on January 29, 2019, 02:20:12 PM

Maybe gold investment could change price about 4 until 6% every year, bitcoin have speculative price and could change just one day more than 50% but some time you will be afraid when bitcoin could be lower price just few moment,

Thats what we are afraid of, the price of bitcoin can go down very deep, and can make you bankrupt. but of course the potential is very large the price can go up very high up to thousands of percent, for investment of course bitcoin is superior, but for store value, gold is safer

denzkilim

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Quote from: davis196 on January 04, 2019, 03:03:07 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?

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

Both of this valuable things whether it is physical or virtual has their own upsides and downsides and it depends on the user of each how to deal with it and how to manage and overcome its so-called weaknesses. In my country, I really don't know the limits of storing gold and its rules and regulations and you're correct gold is heavy and hard to store huge amounts of this because you will surely need some manpower and equipment to transfer this thing if it's needed(if you have a huge amount of it) and a safe place and space is to be considered if you're not planning to store it on a bank. Those are some of the disadvantages of gold while Bitcoin overcomes those.

pushups44

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Bitcoin and gold have similar properties with advantages and disadvantages. Unlike gold, bitcoin does not need physical space for storage and is more portable. On the other hand, gold has a much longer history as money and has a more stable price. As bitcoin matures its volatility is likely to decrease, though.

conanmori

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i disagree Gold are real asset that you can hold and secure in your entire while Bitcoin have value as Virtual Money we cant say how long it will last. We cant even identify what the real value of it unlike Gold.

Stac

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According to my concept Bitcoin can be a better store of value than gold Bitcoin is digital and are never existed physically . But gold exist in real world and it is not depending on the internet . Enthusiastic people consider Bitcoin as a store of value since Bitcoin has a value even though it is down for a year the value will shoot up with in no time exceeding the value of gold this we can see from the previous ten years of experience about Bitcoin and the price of gold remains stable .. Gold is no.t a store of value or an asset we cannott give gold to purchase goods and services .

Omparkash72

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Bitcoin is better then gold in many terms, you cannot store too much gold because it need physical space to store and the return in gold is not too much as compare to Bitcoin.the only thing which we have to face in Bitcoin is safety of wallet. Bitcoin wallet need too much safety.

conected

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Quote from: Pattart on February 12, 2019, 04:38:04 AM

Quote from: ?? on ??

maybe for the short term and get a quick profit I think bitcoin is better than gold, but for the long term gold is still one of the safest assets and it can be used as a reserve asset

for the long term though bitcoin can be more profitable than gold, look at what percentage of the increase in bitcoin prices has been made from the beginning or within a period of 5 years, compared to gold. for someone who is looking for big profits, bitcoin can be a good way, but to maintain value then gold seems a better choice..

- Yes, gold is always a good choice for value storage when the value of gold is very stable and increases steadily over time, we can look at the history of gold, from the first years of existence and until now, the attraction and stability have not changed, even increased greatly when people's needs are quite high. While the value of bitcoin is constantly changing, it can be profitable, but it can also bring a lot of losses, which are very unstable, it is not an ideal value store, gold is still better on storage

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