Bitcoin Is Better Than Digital Gold - page 11.

Fara Chan

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Quote from: cryptoWODL on October 09, 2023, 11:32:13 PM

The connection between gold and bitcoin (BTC) as stores of value is obvious, and the demand for BTC as a digital store of value was a big reason why the cryptocurrency grew in popularity, crypto services provider Matrixport said in a report Monday.
Bitcoin’s market capitalization is $540 billion, equivalent to 10.8% of the market cap of physical financial gold, Matrixport said, adding that gold exchange-traded-funds (ETFs) are valued at $200 billion. Read

When this becomes more clearly visible and can be felt by many people, new people who don't have Bitcoin and already have gold should be able to take this opportunity as their new choice for storing value and also for making profits. Because Bitcoin is not only suitable for storing the value of everyone's assets, but is also suitable for investment with better profit targets, so this is what differentiates physical gold from Bitcoin on the exchange.

Currently, I am still quite interested in these two assets because in my place physical gold is still seen as a precious metal with a very stable price on the market, which makes everyone still quite confident in storing value in physical gold. But on the other hand, I also like Bitcoin as a very good investment for the long term which is not only suitable for storing value, but also for increasing the value of everyone's assets.

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Quote from: cryptoWODL on October 09, 2023, 11:32:13 PM

The connection between gold and bitcoin (BTC) as stores of value is obvious, and the demand for BTC as a digital store of value was a big reason why the cryptocurrency grew in popularity, crypto services provider Matrixport said in a report Monday.
Bitcoin’s market capitalization is $540 billion, equivalent to 10.8% of the market cap of physical financial gold, Matrixport said, adding that gold exchange-traded-funds (ETFs) are valued at $200 billion. Read

And that only shows that Bitcoin is still not yet on that peak whilst gold was already in there. I don't own gold so I don't have an idea on how huge the market of it and not for now that I'll get into it as I want to be focused first with Bitcoin. But with your title, most people are thinking that Bitcoin is actually the digital gold. So, you can remove that word 'digital' if the thread is all about comparison of Bitcoin and gold. We've got a lot of discussions about it already in the past and since you're in a Bitcoin forum, obviously everyone is going to say good things about Bitcoin and how optimistic we are. The potential of Bitcoin can be seen with that comparison of gold's market cap and itself.

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Gold is overvalued at current prices, but at one time Bitcoin surpassed gold. Although volatility works in the Bitcoin market, the price of Bitcoin is always on the upswing. However, the price of Bitcoin is very low at the moment due to which the price of gold is currently high, but we expect that Bitcoin will outperform the price of gold. As we have a bull market ahead, Bitcoin will double the price of gold when it becomes ATH again. Moreover, there are many stories of Bitcoin being double the price of gold because Bitcoin is a digital currency. This digital currency cannot be controlled by anyone and has a fixed supply, which is why the demand for Bitcoin will increase as its popularity increases. But the value of gold will not catch up with Bitcoin because gold has been a natural resource since ancient times. But people are currently more psyched about cryptocurrencies than gold, and investing in Bitcoin can make more money than gold. And that's why Bitcoin has become more preferred by people nowadays, and people are always more interested to invest in Bitcoin.

Litzki1990

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Gold and Bitcoin are different, there is a lot of demand for gold worldwide. People of every country in the world are generally attracted to gold. People use gold to fulfill their desires or hobbies. But very few people choose gold as an investment. The price of gold is not very variable and its value does not increase much in every year interval but different for people who don't feel safe keeping money in bank and they buy gold only as savings but bitcoin is much better than gold for investment. The price of Bitcoin is changing every moment and if you invest in Bitcoin with a large amount of money and if that investment can be held for a long time, then you can make several times more money than holding gold. Bitcoin is always the best currency to invest.

Dr.Osh

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Well, even though bitcoin and gold are both types of investment, I think comparing the two is quite difficult. If you want to compare bitcoin, then look for investments that have digital properties, and if you want to compare gold, then look for investments that have other physical properties. that would probably be fairer.
However, in this case, I would probably be inclined to choose gold. that's because gold is an investment that is not affected by inflation and has been proven to last from year to year, while bitcoin is a new type of investment that is not hundreds of years old. It's just that, I'm more inclined to use bitcoin for now, and haven't focused on gold. I will probably focus on gold when I have successfully utilized bitcoin, as well as gaining financial freedom.

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Quote from: cryptoWODL on October 09, 2023, 11:32:13 PM

The connection between gold and bitcoin (BTC) as stores of value is obvious, and the demand for BTC as a digital store of value was a big reason why the cryptocurrency grew in popularity, crypto services provider Matrixport said in a report Monday.
Bitcoin’s market capitalization is $540 billion, equivalent to 10.8% of the market cap of physical financial gold, Matrixport said, adding that gold exchange-traded-funds (ETFs) are valued at $200 billion. Read

Why you need t compare it? If you could just invest on both assets then be it. Because if you just do that to hate other option and want to stick with bitcoins then maybe you would provably miss some other option that can possibly give you a profit. But if you are bitcoin maximalist type of guy then maybe you hate the idea of other than bitcoin then this is good for you already. But for sure many would agree if you think that bitcoin is more better with the option you compare since you are in bitcoin forum. For sure there's a lot of people will say about that this is good rather than digital gold you mentioned. But for me if there's a chance that I can grab both then would provably have since multiple investment is best rather sticking on single investment only.

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If it is compared to gold digitally then I agree that Bitcoin is much better. At least I can store my bitcoins safely in my hard wallet. But if we talk about comparing physical Gold and Bitcoin then I think physical Gold is still much better. Because apart from its stable price and being suitable for storing value, physical gold also has uses that have become something that cannot be separated from our lives in various fields. From development, military, medical, electronics and even beauty, everything involves the use of gold.

But since this is only limited to digital gold, I agree with the OP. But still both are the best choices compared to other choices in digital assets.

And more clearly, physical Gold is the best in the physical world and Bitcoin is the best in the digital world. I often hear this word and I agree with these words. Because both have advantages in their respective places.

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Quote from: pooya87 on October 10, 2023, 12:51:22 AM

That is a weird comparison in your title.

I also got confused about the title. Bitcoin, sometimes called digital gold, has unique properties that set it apart from physical gold. Gold is a tangible asset that can be purchased, and its price tends to be less volatile compared to Bitcoin. On the other hand, Bitcoin's price is more volatile due to its limited supply of approximately 21 million coins. Both are considered stores of value, and your choice to invest in either depends on your personal preferences. However, I suggest editing the title because gold is not a digital asset, whereas Bitcoin is, and it can be referred to as digital gold. It seems op didn't take his time to read through his link and maybe if he did, he could have made adjustments to the title to better match the topic.

bluebit25

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Feel quite confused by the comparison between Bitcoin and Gold, this has been discussed in many places but I feel that with the current context of Bitcoin's development there is no need to draw attention through this. Basically both are good assets when looking at investment, it's like someone forcing you to choose between your left eye and your right eye to see which eye is better (the economy will have many eyes different ) .
It can be speculated that the future of digitalization will explode in everything in life, and choosing Bitcoin or Gold has its own benefits and risks. However, I personally like Bitcoin more so the portfolio I like will have more bitcoin than gold.

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I think both of them have their advantages and disadvantage....

1. Bitcoin is decentralized (So there is not a single point of failure, in the event of an attack)
2. Digital Gold is centralized, so it is a good target for hackers and/or war mongers.
3. Bitcoin have a fixed supply (This cannot be changed without consensus)
4. Gold supply is unknown and Gold audits are not verified by independent entities. (Do they test every Gold bar in every vault?)
5. Most countries accept Gold and it's legal... some countries banned Bitcoin.

In any way..... both of them are perceived as a good store of value.... and that is all that matters. Cheesy

bettercrypto

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Literally speaking, gold has existed for thousands of years compared to Bitcoin; it's like BTC is actually a baby. But even in the short period of its existence, Bitcoin has become popular all over the world. And what's even more cruel here is that Bitcoin is even surpassing the price value of gold.

Which, if we look at it, is too far for 1500 to 27500 dollars, right? Then is it adopted by big companies? Can it be used in any form of business, no choice of business, as long as it is accepted as one of the option payments? Therefore, the number of investors who believe in and trust Bitcoin is increasing even more.

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Quote from: bittraffic on October 10, 2023, 12:51:04 AM

Time is very uncertain now so whatever could happen, your survival depends on how much investment and the kind of investment you have. Gold can be paid to someone who doesn't understand BTC.

It is looking like our survival and comfort is going to also have a connection to how much we know of the internet as the time go by. The knowledge of the internet is increasing and every thing physical is having virtual version. People talk about gold because of store of value, how long it has existed, even as old as life based on its formation. Bitcoin also has that same quality but only existed in a short time. So the question is at what form are gold paid to those who don't understand bitcoin? Also virtual I guess. So I believe bitcoin will be far more valued than Gold because it has the virtual digital marketing that will far more embrace more people. However, the major challenge bitcoin has is adoption and that is its original decentralised nature.

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Your comparison of Bitcoin with gold is so awkward, I see no reason for it, especially when you don't have a good explanation to back your claims. Bitcoin has its good side, and so is Gold, it all depends on the investor to choose the one to invest in the two of them or better still distribute the money in both.

Still, the anonymity/privacy and the ability to make more money in Bitcoin for Hodlers are the only advantages I see in it over Gold. But for others ranging from age, feasibility, asset backing, reliability, dependability, market capitalization and others, Gold has it.

I hope we just continue to invest in our choice or both and stop comparing.

rachael9385

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However, both gold as mentioned and Bitcoin are good stores of value, but I can say that gold has already gained the mind of everyone in the world (people trust it more than they trusted Bitcoin). Governments allow gold to be used in their countries, but not all governments permit the usage of Bitcoin in their countries, which is to say Bitcoin hasn't stayed up to 30 to 40 years in the world for it to be compared to gold, because of the value of it.

Bitcoin is a great store of value and it can also be used for payment methods in various businesses, mostly online businesses and offline businesses, but at the same time, if bitcoin is not used properly, it can be lost and never returned.

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Both of them are great stores of value with just little advantages they poses over each other. If one is rich and easily doesn’t want a very volatile asset then they will settle for gold. As for bitcoin I so much admire it because it doesn’t need much amount to get invested into even a 10$ purchase can be done and also it is easily accessible than physical gold which is not just sold anyhow but bitcoin can be bought from the comfort of your home through exchanges.

The risk is bitcoin can easily be lost with just a misplaced seed phrase or compromised wallet which cannot be done to Physical gold. Also Gold itself seems hard to save because the more you have it, the larger the place needed to store it, and this will only expose one to potential thieves. But one can have million of bitcoin store in just a small hardware wallet without it raising an eyebrow except the owner discuss its content with people

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Quote from: kro55 on October 10, 2023, 12:39:12 AM

Quote from: Obari on October 10, 2023, 12:17:09 AM

Apparently I see no reason for comparison as they’re both good store of value and most times if they are possibilities of you owning them both, then I would advice that you go for it rather than wanting to compare them.

OP, if bitcoin is truly better than gold, why do thousands of billionaires, millionaires, rich people and all governments accumulate and hold instead of bitcoin? We can compare, but let's be realistic because both have their own advantages and disadvantages.

I'm glad you got my point because I wasn't sure i was able to present my opinion properly and there was a time I also advised a friend when he seeked my opinion on diversifying his investment and I simply told him not to try to get into alts but rather gold even physical gold in form of jewelries isn't a bad idea because you can stay in fashion while investing.
Most times people always want to compare rather than alight and these comparisons are the reasons why it seems pressure is been mount on bitcoin and price predictions is getting too much.

Remember expectations leads to disappointment and bitcoin will always break your heart if you keep predicting price.
If you can own both gold and bitcoin, that's perfect, go for them rather than competing them.

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Bitcoin is a self-custodial entity where you can hold the units. In contrast to digital gold, reserves are only kept by the party issuing the gold securities. You are not allowed to withdraw it from their vaults, and the issuer of the security could be another risk factor in addition to the inherent volatility of physical gold.

pooya87

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That is a weird comparison in your title.

Gold is by nature physical and if you turn it into digital, it stops being gold and becomes IOUs which can not even be compared with bitcoin.
Similarly Bitcoin is designed to be digital and if you convert that to physical (some have tried in the past), it also stops being Bitcoin and becomes IOUs which again can not even be compared with gold.

So if you want to compare, the comparison should be between Bitcoin and Gold (not digital gold). And in that comparison both of them are good for different purposes and each have its own advantages and disadvantages.
For example unlike gold, bitcoin is used as a currency but at the same time bitcoin price is still volatile whereas gold is more stable in comparison.

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Gold market existed long before BTC, sure its cap is way bigger. But majority of us here will prefer BTC of course, it couldn't really convince anyone to solely leave BTC and choose gold. It is not going to hurt the investor does have gold along with BTC.

Time is very uncertain now so whatever could happen, your survival depends on how much investment and the kind of investment you have. Gold can be paid to someone who doesn't understand BTC.

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Quote from: Obari on October 10, 2023, 12:17:09 AM

Apparently I see no reason for comparison as they’re both good store of value and most times if they are possibilities of you owning them both, then I would advice that you go for it rather than wanting to compare them.

Even if we compare these two assets thousands of times, gold is still the asset that the whole world trusts and uses, while bitcoin is a fairly new asset and is considered riskier. I also don't understand why so many people like to compare these two assets when no one forces us to choose just one of them. Why don't we choose both and diversify our assets? Or choose according to each person's needs.

OP, if bitcoin is truly better than gold, why do thousands of billionaires, millionaires, rich people and all governments accumulate and hold instead of bitcoin? We can compare, but let's be realistic because both have their own advantages and disadvantages.

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