Bitcoin Is Better Than Digital Gold - page 4.

Z_MBFM

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Quote from: cryptoWODL on October 10, 2023, 12:32:13 AM

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

Bitcoin is always better than digital gold. Because Bitcoin is Totally Decentralized and Digital Gold is Centralized which is why you can always invest in Bitcoin and be safe because the control of Bitcoin is completely in your hands and can be controlled as you wish and no one will know how much money you invest in Bitcoin. You can keep it completely hidden and invest in Bitcoins totally anonymously. But in digital gold you cannot invest anonymously. So if you invest more money there, you will be at risk and digital gold will not give you enough privacy. and the rate of increase in the price of Bitcoin is always much higher than that of gold, but there are many chances of the price to decrease. But if someone wants to invest by accepting risk then Bitcoin will be the best

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Isn't bitcoin itself a digital gold, people are rushing to take advantage in bitcoin and adopt it for their financial economy situations to help them experience change to their desired destinations in dealing with finances, asset managements and many other, bitcoin is the digital gold some referred to because of its values being a digital currency, I don't know how gold had already existed in its digital form but what we have now is bitcoin and it's decentralized unlike the centralized gold.

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Quote from: cryptoWODL on October 10, 2023, 12:32:13 AM

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.

And gold is indeed a safe asset and gold is often considered by society as a stable asset that can also function as a hedge when economic uncertainty comes from time to time, but in crisis situations, investors may tend to sell gold to make ends meet. liquidity needs and if the currency strengthens, the value of gold can also fall at any time.

Quote from: cryptoWODL on October 10, 2023, 12:32:13 AM

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

At the end of the post written by Coindesk, I think the direction is quite clear. BTC has always been a hot topic of discussion for mainstream experts, institutional investors to discuss both in terms of Volatility, predicting and believing in Bitcoin as a financial instrument that has very high Bitcoin growth prospects. However, if there is a correction, it is normal in the BTC market.

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Quote from: Litzki1990 on November 13, 2023, 01:00:00 AM

Quote from: NotATether on October 26, 2023, 03:46:46 AM

The OP said digital gold not physical gold bars. Such an asset would have to be stored on a custodial platform - which can never be transacted with, only held - which of course will require you to complete KYC in order to access your gold holdings - which it may or may not have depending on the trustworthiness of the platform.

By gold we mean physical gold because I think gold can never be virtual. You must understand the gold that I am talking about,the gold that people use, the gold that people use to make ornaments, I am talking about that gold. OP clearly tried to differentiate between gold and bitcoin here. It's fine to find the difference between Pepsi and Coca-Cola but when it comes to finding the difference between gold and bitcoin I don't think I can find any difference because the two are different and the real character of the two is different. Just as Coca-Cola and Pepsi make lotus drinks and their categories are the same, Bitcoin and gold are not the same category, so it is difficult to distinguish between them.

That's exactly what I thought. I mean, I dont know if there's Digital gold though, but If we try to compare the Physical gold and Bitcoin, definitely there's a lot of differences. when it comes to stability I prefer investing in gold which focused in long term goal just like bitcoin but it doesn't require constantly monitoring because everyone's aware that gold value increase from time to time, And about investing in bitcoin, actually it's good same as gold but this is applicable for High risk takers investors and it requires monitoring and checking the market price because its value is volatile.

Litzki1990

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Quote from: NotATether on October 26, 2023, 03:46:46 AM

The OP said digital gold not physical gold bars. Such an asset would have to be stored on a custodial platform - which can never be transacted with, only held - which of course will require you to complete KYC in order to access your gold holdings - which it may or may not have depending on the trustworthiness of the platform.

By gold we mean physical gold because I think gold can never be virtual. You must understand the gold that I am talking about,the gold that people use, the gold that people use to make ornaments, I am talking about that gold. OP clearly tried to differentiate between gold and bitcoin here. It's fine to find the difference between Pepsi and Coca-Cola but when it comes to finding the difference between gold and bitcoin I don't think I can find any difference because the two are different and the real character of the two is different. Just as Coca-Cola and Pepsi make lotus drinks and their categories are the same, Bitcoin and gold are not the same category, so it is difficult to distinguish between them.

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Quote from: Vishnu.Reang on November 12, 2023, 12:52:31 PM

Every thing has two sides pros and cons we have to balance both. Bitcoin Is Better Than Digital Gold or not it is totally depends upon your needs and patience. Bitcoin is a more volatile investment that may provide quick returns. Bitcoin is one of the strongest cryptocurrency and for that matter, it has helped so many people to get financial stability in
in their hard time meanwhile gold is stable with limited growth. In my opinion Understanding each investment's you need to decide by yourself because except you no one can understand your needs.

I just heard that many times if gold is not a kind of investment, but as a store of value your wealth. As we know, the price of gold is never rises as is happening today, but because decrease in fiat value. While bitcoin, the value is always increase when we have compare it with fiat and gold. Since this year, the bitcoin price increase about 120%, while gold only rise about 10% from November 2022. With this situation, we know what the best for investment right?, yes, bitcoin is still good for investment, even was dump about 50% from ATH, but when we bought it on october 2022 of course we created profit 120%+ than we invested our money on gold.

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Quote from: Vishnu.Reang on November 12, 2023, 12:52:31 PM

Every thing has two sides pros and cons we have to balance both. Bitcoin Is Better Than Digital Gold or not it is totally depends upon your needs and patience. Bitcoin is a more volatile investment that may provide quick returns. Bitcoin is one of the strongest cryptocurrency and for that matter, it has helped so many people to get financial stability in
in their hard time meanwhile gold is stable with limited growth. In my opinion Understanding each investment's you need to decide by yourself because except you no one can understand your needs.

This is correct every stage of success depends on your selection, patience, knowledge, experience and timing. Some people become successful while holding digital coins while some find bitcoin as a best investment asset so its all depends on your choice and holding abilities. bitcoin is although volatile but those who are expert in crypto will take benefit from this volatility instead of thinking about it as a bad characteristics of crypto. Other people cannot make profit for you but they can only give suggestion for your so it is up to you that are you focus on benefit or risk. Utilize your knowledge and experience so every asset can become a reason of your richness.

Vishnu.Reang

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Every thing has two sides pros and cons we have to balance both. Bitcoin Is Better Than Digital Gold or not it is totally depends upon your needs and patience. Bitcoin is a more volatile investment that may provide quick returns. Bitcoin is one of the strongest cryptocurrency and for that matter, it has helped so many people to get financial stability in
in their hard time meanwhile gold is stable with limited growth. In my opinion Understanding each investment's you need to decide by yourself because except you no one can understand your needs.

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Quote from: Essential10 on November 12, 2023, 10:00:53 AM

Gold is a historical precious metal since long ago gold was held as a national reserve in most countries of the world. It is based on the economy, monetary policy, and other financial conditions of different countries. Bitcoin and gold pricing factors and evolving scenarios are different. Gold and Bitcoin are two different economic components and investment options. Financial events such as gold price, and Bitcoin price can affect market readiness, investment, and crisis or situation changes with cryptocurrency market growth. It can be used as a conceptual asset and This can be important for the country's financial status as a gold currency. Gold is a minor recourse, but Bitcoin can be a volatile investment option, offering long-term earnings opportunities. Currently most people are choosing Bitcoin as a medium of investment.

This is not entirely true, if you compare the number of investors in bitcoin with gold, the number of investors in bitcoin is insignificant compared to gold. people are still choosing gold over bitcoin. part of it is that bitcoin is still not really familiar to everyone, legal issues...part of it is the fluctuations and risks that it brings that not everyone likes. we're on a bitcoin forum, so of course you'll see most people choose bitcoin, but if this question above were on a purely economic forum the result would be different.

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Gold is a historical precious metal since long ago gold was held as a national reserve in most countries of the world. It is based on the economy, monetary policy, and other financial conditions of different countries. Bitcoin and gold pricing factors and evolving scenarios are different. Gold and Bitcoin are two different economic components and investment options. Financial events such as gold price, and Bitcoin price can affect market readiness, investment, and crisis or situation changes with cryptocurrency market growth. It can be used as a conceptual asset and This can be important for the country's financial status as a gold currency. Gold is a minor recourse, but Bitcoin can be a volatile investment option, offering long-term earnings opportunities. Currently most people are choosing Bitcoin as a medium of investment.

Mame89

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Quote from: Marvell1 on October 26, 2023, 05:49:33 AM

If you look back at the history of gold over the past thousand years, you will also see that the value of gold has also increased significantly compared to decades ago. That proves there are many people who invested in gold and became rich, but because you were not born at that time, you never know who became rich by investing in gold Cheesy

. Before gold became as big as it is today, it also had volatile prices and bull cycles, you have never read about its history, so you don't know about it.

Gold is an old asset and has reached a level of stability so comparing it to a new asset like bitcoin is quite lame. Just as many people will compare bitcoin to altcoins, many people invest in altcoins because they believe that bitcoin will no longer be very profitable. Bitcoin still offers significant returns compared to traditional assets, but there's no denying that bitcoin's returns are getting smaller. Do you see bitcoin rising millions of percent or thousands of percent these days? That happened years ago and now we will only have x10, x5...and they will get smaller and smaller as bitcoin gets bigger and bigger.

Indeed, if you look at the history of gold, it is longer than bitcoin, bitcoin has only been around for a decade. However, bitcoin assets are better compared to gold, investing in gold will be difficult if you travel abroad, but not for investing in bitcoin. Owning bitcoin will not only bring significant profits someday but we can also easily travel wherever we go and easily carry bitcoin assets.

The point is everything has pluses and minuses. If Bitcoin is light, it can be carried anywhere with Prase Seed, but when the signal and network are down, it can't do anything. Gold is indeed heavy, if it weighs many kilos it will cost money to move it. But at least if we really want to be rich we need gold and bitcoin.

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Quote from: cryptoWODL on October 10, 2023, 12:32:13 AM

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 do we constantly feel the need to compare Bitcoin to something else? Bitcoin is an important value for us and its value will increase day by day. I do not find it right to compare it with another precious metal or digital currency. Every investment instrument is valuable if it has proven itself. Each investment instrument has its own investor base. Anyone can buy and invest in any investment instrument.

Comparing things does not increase the value of the things we compare, so I think these comparisons are a waste of time.

YOSHIE

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There is an order of assessment between better, from which side and the consideration factors you look at Gold and Bitcoin, if you say it like the title I quoted.

Quote

Bitcoin Is Better Than Digital Gold.

My understanding is that nothing is better than gold, for whatever reason you think Bitcoin has a higher value than gold, the problem is don't be guided by the view of high value, consider it in terms of needs, physicality, access and so on.

You can have bitcoin, if you are successful in accessing the internet, gold does not need an access system, if you look at storage, of course gold is better than Bitcoin, unless: you look at it from an economic trading perspective, of course Bitcoin is economically faster, Don't look at both gold and Bitcoin from one side, the mutual effects and risks must be considered, then you can say which is better.

Gold was much better before Bitcoin was created and launched into the world of online technology.

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Quote from: cryptoWODL on October 10, 2023, 12:32:13 AM

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

Apart from the traits of Bitcoin being a store house of value., it has also helped solve the control and power of the fiat money only if you do not make use of Kyced centralized exchanges.
It solved some aspects of privacy and transparency with how the money flows.
There's a problem with your tittle heading, it needs to be solved or corrected. Bitcoin I know is also called digital gold. Why the need for comparing.

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Quote from: Fakhrulenclix on October 28, 2023, 04:57:16 AM

Quote from: Marvell1 on October 27, 2023, 06:49:57 AM

Yes, gold is no longer a good investment as it has reached its limit, and it is more suitable as a hedging tool in these days. What I just want to point out is that in the past gold was also a very profitable investment, and also helped many people get rich, not completely useless like poodle63 said.

As for bitcoin, I am a bitcoin investor and I admit that today it has more potential than gold in terms of returns because it is a new asset. There have also been many people who have changed their lives thanks to investing in bitcoin and there will be more in the future. But that doesn't mean we can deny the role of gold in the past and present. We don't need to vilify another asset to make bitcoin shine brighter.

Well, if it's for investing, I agree that Bitcoin is much better, but if it's for saving, I think there are many other things, including gold, that are more appropriate.
Actually, these cannot be compared because they have different functions, and it all comes back to each of us as to what function we use, if it is for investing of course Bitcoin is much better because it has quite significant price movements so it is possible to make a profit (such as investment objectives).

With bitcoin we don't have much of difference between saving and holding. Both were similar, just adding little by little to the wallet where bitcoin is kept for long term gives the benefit of investing through the growth experienced.

With digital gold we don't have such an access to hold and experience the benefits of investing. With digital gold there are different types of investment and we need to analyse well and invest, if not we get trapped. When it comes to gold, investing what is excess in our hand and doesn't require in the short is the right way. In specific Gold bonds were more profitable than other forms of digital gold investment, but with these bonds we won't be able to withdraw the fund whenever necessary. Only after specific number of years the amount can be withdrawn, and for those years we'll be provided with specific percentage interest on the amount invested. Bitcoin and gold are completely different and we need to understand well and move forward to invest.

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Quote from: Marvell1 on October 27, 2023, 06:49:57 AM

Yes, gold is no longer a good investment as it has reached its limit, and it is more suitable as a hedging tool in these days. What I just want to point out is that in the past gold was also a very profitable investment, and also helped many people get rich, not completely useless like poodle63 said.

As for bitcoin, I am a bitcoin investor and I admit that today it has more potential than gold in terms of returns because it is a new asset. There have also been many people who have changed their lives thanks to investing in bitcoin and there will be more in the future. But that doesn't mean we can deny the role of gold in the past and present. We don't need to vilify another asset to make bitcoin shine brighter.

Well, if it's for investing, I agree that Bitcoin is much better, but if it's for saving, I think there are many other things, including gold, that are more appropriate.
Actually, these cannot be compared because they have different functions, and it all comes back to each of us as to what function we use, if it is for investing of course Bitcoin is much better because it has quite significant price movements so it is possible to make a profit (such as investment objectives).

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Quote from: NotATether on October 26, 2023, 03:46:46 AM

The OP said digital gold not physical gold bars. Such an asset would have to be stored on a custodial platform - which can never be transacted with, only held - which of course will require you to complete KYC in order to access your gold holdings - which it may or may not have depending on the trustworthiness of the platform.

Well, obviously, as the title says, digital gold is very far from physical gold. And then bitcoin or gold should not be compared to each other because they do not have the same function in the market when it comes to the concepts and features that each one has.

And obviously, Bitcoin does not require KYC, unlike gold, which is required for anyone who has this business institution, right? And also, when it comes to the transaction, the difference between the two of them is, to be honest, very small.

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Quote from: viananda2525 on October 27, 2023, 05:14:42 AM

Quote from: Marvell1 on October 26, 2023, 05:49:33 AM

Quote from: poodle63 on October 23, 2023, 08:30:08 PM

Quote from: wallet4bitcoin on October 22, 2023, 12:13:54 AM

...

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i personally never seen any person getting rich from just investing in gold but i've seen plenty become millionaire from investing in bitcoin at the right time and at the right moment.
thats the difference.

If you look back at the history of gold over the past thousand years, you will also see that the value of gold has also increased significantly compared to decades ago. That proves there are many people who invested in gold and became rich, but because you were not born at that time, you never know who became rich by investing in gold Cheesy

. Before gold became as big as it is today, it also had volatile prices and bull cycles, you have never read about its history, so you don't know about it.

Gold is an old asset and has reached a level of stability so comparing it to a new asset like bitcoin is quite lame. Just as many people will compare bitcoin to altcoins, many people invest in altcoins because they believe that bitcoin will no longer be very profitable. Bitcoin still offers significant returns compared to traditional assets, but there's no denying that bitcoin's returns are getting smaller. Do you see bitcoin rising millions of percent or thousands of percent these days? That happened years ago and now we will only have x10, x5...and they will get smaller and smaller as bitcoin gets bigger and bigger.

In my opinion, gold is one of the safest hedging tools so far. But gold is certainly not a profitable investment if we are in a business whirlwind. For some people, gold will always be seen as an important tangible asset when the financial crisis hits. Then the value of gold does not depend on authority policy, so there is no need to worry too much about changes in interest rates and the like and of course you are free from the risk of a banking crisis, because gold is not affected at all by the world banking system.

So gold will still be a priority compared to Bitcoin. Bitcoin does have another side that may be much more profitable, but because its value fluctuates greatly, some people are worried about investing on a large scale. And I also suspect that so far the development and interest in Bitcoin is also increasing.

Yes, gold is no longer a good investment as it has reached its limit, and it is more suitable as a hedging tool in these days. What I just want to point out is that in the past gold was also a very profitable investment, and also helped many people get rich, not completely useless like poodle63 said.

As for bitcoin, I am a bitcoin investor and I admit that today it has more potential than gold in terms of returns because it is a new asset. There have also been many people who have changed their lives thanks to investing in bitcoin and there will be more in the future. But that doesn't mean we can deny the role of gold in the past and present. We don't need to vilify another asset to make bitcoin shine brighter.

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Quote from: Pingrapole on October 26, 2023, 06:15:13 AM

Two things are valuable in two cases gold is accepted globally but bitcoin is gold so far limited to certain states or few people like gold to people globally Bitcoin has gained trust but not yet and both are very high value and both are asset classes one is ancient or traditional and Bitcoin is modern. So it is not logical to differentiate or compare between the two, that is why many of us is buying gold with our Bitcoin earnings because both are Permanent gold has already achieved stability and Bitcoin is slowly making its presence felt around the world.So there is no reason to see these two separately as one complements the other now Both are sustainable now and will be in the near future and will continue to exist with their power.

Apart from what differentiates the two from a physical aspect, they are also different from ancient discoveries to modern discoveries so that everyone can choose both for quite logical reasons. Because when someone wants to own physical gold, he can immediately buy it at the nearest gold shop in his area at a predetermined rate, whereas if someone wants to invest in assets that can exceed gold. The choice should be on Bitcoin because in general Bitcoin is actually quite well known throughout the world even though not everyone in the world has Bitcoin in their wallets.

Uruhara

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I do seem to agree with what the OP said about Bitcoin being better than digital gold. Because I think digital gold is not under our control. This is different from Bitcoin, which we store in our personal wallet and always have full control over ourselves. But I only agree if it's with digital gold. But physically, gold is still superior. But if we talk about the investment realm then of course Bitcoin is also what I would choose. But if it is for storing value then physical gold is the best. Physical gold and Bitcoin also cannot be compared. Because it seems like these two things have different realms. This is between digital payment tools and the realm of stores of value.

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