Topic: Bitcoin is not the new gold, Goldman Sachs says - page 2. (Read 757 times)
Cryptocurrencies like bitcoin are not the "new gold," Goldman Sachs said in a note, advising investors that precious metals "remain a relevant asset class" in portfolios.
Not again. Now even he might try his level best to drop the price of Bitcoin and when he will be successful in doing that he will also buy tons of Bitcoins just like others did .
Ya I think so.You can expect to see the low price at the November.But it's not a permanent,it will again increase.Use that dip and brought the lot of bitcoin as much you can.If so,you will get good profit after the November.But you have to keep for some time.You have to inverse the unused money in that ,to work independently and get good profit.
fluctuations are pretty common in bitcoin, the reason for these dips and rises are not important. and speaking about bitcoin versus gold, all these short term fluctuations become irrelevant. what matters is the security and the long term performance of that thing. and bitcoin has the most security that you can wish for and so far it has been performing phenomenally! it is still considered risky because of the big swings but that risk is decreasing as the market grows bigger.
Not again. Now even he might try his level best to drop the price of Bitcoin and when he will be successful in doing that he will also buy tons of Bitcoins just like others did .
Ya I think so.You can expect to see the low price at the November.But it's not a permanent,it will again increase.Use that dip and brought the lot of bitcoin as much you can.If so,you will get good profit after the November.But you have to keep for some time.You have to inverse the unused money in that ,to work independently and get good profit.
Cryptocurrencies like bitcoin are not the "new gold," Goldman Sachs said in a note, advising investors that precious metals "remain a relevant asset class" in portfolios.
The analysts said that digital wallets, where people can store cryptocurrencies, are vulnerable to hacking, and virtual currencies also have "significant regulatory risks." For example, China recently banned cryptocurrency exchanges and put a stop to initial coin offerings (ICOs), the new way for start-ups to raise money by issuing digital tokens.
Goldman also said that cryptocurrencies are subject to network or infrastructure risk during a crisis. For example, there was a "hard fork" this summer when bitcoin split to create a new cryptocurrency called bitcoin cash.
The investment bank said that precious metals are "still the best long-term store of value"
Source: https://www.cnbc.com/2017/10/19/bitcoin-is-not-the-new-gold-goldman-sachs-says.html
What are your thoughts?
Bitcoin and gold have some similarities but I don't want to compare both since bitcoin is a digital currency and gold is a precious metal.
But I still pick bitcoin over gold for long term store of value.
Bitcoin has seen lot of progress since it had started. It’s price is also increasing continuously since it started. It has gained huge amount of popularity among people and is being used intensively. Although prices of bitcoin has defeated that of gold but still I don’t think that it can replace gold and become the new gold because firstly, gold is a stable form of currency which means that its price does not change so often. Secondly, it’s a precious metal and has a physical entity. Thirdly, It is accepted everywhere in the world and can be converted into cash whenever needed. Lastly it does not need internet to work. The analysts said that digital wallets, where people can store cryptocurrencies, are vulnerable to hacking, and virtual currencies also have "significant regulatory risks." For example, China recently banned cryptocurrency exchanges and put a stop to initial coin offerings (ICOs), the new way for start-ups to raise money by issuing digital tokens.
Goldman also said that cryptocurrencies are subject to network or infrastructure risk during a crisis. For example, there was a "hard fork" this summer when bitcoin split to create a new cryptocurrency called bitcoin cash.
The investment bank said that precious metals are "still the best long-term store of value"
Source: https://www.cnbc.com/2017/10/19/bitcoin-is-not-the-new-gold-goldman-sachs-says.html
What are your thoughts?
Bitcoin and gold have some similarities but I don't want to compare both since bitcoin is a digital currency and gold is a precious metal.
But I still pick bitcoin over gold for long term store of value.
i never get the fascination for comparing bitcoin and gold. they have nothing in common. with gold being physical and being around as long as humanity 
and bitcoin being digital and decentralized and being around for 8 years, it is practically a toddler versus an ancient comparison.
and bitcoin being digital and decentralized and being around for 8 years, it is practically a toddler versus an ancient comparison. Totally right.
Bitcoin is a currency in its "cleanest" form - pure information. It must be used to become valuable. Without the 10.000 BTC pizza (and obviously other pioneer transactions) it wouldn't be worth nothing. The more we use it, the more it will be valued/priced.
And gold is overrated. I think its current function as "store of value" won't last for more than 30-40 years. Then its price will adjust drastically to its "industrial" value, as we will have much better systems to "store value". Bitcoin may be part of it.
Not again. Now even he might try his level best to drop the price of Bitcoin and when he will be successful in doing that he will also buy tons of Bitcoins just like others did .
Cryptocurrencies like bitcoin are not the "new gold," Goldman Sachs said in a note, advising investors that precious metals "remain a relevant asset class" in portfolios.
The analysts said that digital wallets, where people can store cryptocurrencies, are vulnerable to hacking, and virtual currencies also have "significant regulatory risks." For example, China recently banned cryptocurrency exchanges and put a stop to initial coin offerings (ICOs), the new way for start-ups to raise money by issuing digital tokens.
Goldman also said that cryptocurrencies are subject to network or infrastructure risk during a crisis. For example, there was a "hard fork" this summer when bitcoin split to create a new cryptocurrency called bitcoin cash.
The investment bank said that precious metals are "still the best long-term store of value"
Source: https://www.c[Suspicious link removed]m/2017/10/19/bitcoin-is-not-the-new-gold-goldman-sachs-says.html
What are your thoughts?
Bitcoin and gold have some similarities but I don't want to compare both since bitcoin is a digital currency and gold is a precious metal.
But I still pick bitcoin over gold for long term store of value.
Yes i do agree with him,bitcoin is not new gold,but what i can say is bitcoin is more than the gold.The analysts said that digital wallets, where people can store cryptocurrencies, are vulnerable to hacking, and virtual currencies also have "significant regulatory risks." For example, China recently banned cryptocurrency exchanges and put a stop to initial coin offerings (ICOs), the new way for start-ups to raise money by issuing digital tokens.
Goldman also said that cryptocurrencies are subject to network or infrastructure risk during a crisis. For example, there was a "hard fork" this summer when bitcoin split to create a new cryptocurrency called bitcoin cash.
The investment bank said that precious metals are "still the best long-term store of value"
Source: https://www.c[Suspicious link removed]m/2017/10/19/bitcoin-is-not-the-new-gold-goldman-sachs-says.html
What are your thoughts?
Bitcoin and gold have some similarities but I don't want to compare both since bitcoin is a digital currency and gold is a precious metal.
But I still pick bitcoin over gold for long term store of value.
I donot know why some people are still negative about bitcoin,bitcoin and blockchain is not for just trading and investing this technology have the capacity of make the world fully digitize so its way bigger than gold.
Funny how bias this man has, in his first name it appears to me “Gold”. Sometimes in a boxing match those have big mouths is hurting inside. How pathetic this “financial experts” can be and how they make some statements to the things in the first glance they judge before trying to understand. Hoping that he would change his mind as he don’t want to be as so depressed as Jamie Dimon.
Goldman BallSachs is full of sh1t. Can they tell you what will happen with your gold investments if governments decide to confiscate it again? < Making gold ownership illegal >
The United States Gold Reserve Act of January 30, 1934 required that all gold and gold certificates held by the Federal Reserve be surrendered and vested in the sole title of the United States Department of the Treasury.
FDR's 1933 Gold Confiscation was a Bailout of the Federal Reserve Bank. 20,000 metric tons of gold were 'circulating naked' in 1933.” President Franklin Delano Roosevelt's 1933 executive order outlawing the private ownership of gold in the United States was arguably unconstitutional.
Why would they push people to invest into something that the government can take away? Because they are working with the government.
Bitcoin cannot be confiscated by anyone, if you store it in the correct manner. ^smile^ YOU should protect your wealth, the governments of this world are in serious debt and your wealth can be transferred to them, with a push of a button.
The United States Gold Reserve Act of January 30, 1934 required that all gold and gold certificates held by the Federal Reserve be surrendered and vested in the sole title of the United States Department of the Treasury.
FDR's 1933 Gold Confiscation was a Bailout of the Federal Reserve Bank. 20,000 metric tons of gold were 'circulating naked' in 1933.” President Franklin Delano Roosevelt's 1933 executive order outlawing the private ownership of gold in the United States was arguably unconstitutional.
Why would they push people to invest into something that the government can take away? Because they are working with the government.
Bitcoin cannot be confiscated by anyone, if you store it in the correct manner. ^smile^ YOU should protect your wealth, the governments of this world are in serious debt and your wealth can be transferred to them, with a push of a button.
i never get the fascination for comparing bitcoin and gold. they have nothing in common. with gold being physical and being around as long as humanity and bitcoin being digital and decentralized and being around for 8 years, it is practically a toddler versus an ancient comparison.
and bitcoin being digital and decentralized and being around for 8 years, it is practically a toddler versus an ancient comparison. 
Cryptocurrencies like bitcoin are not the "new gold," Goldman Sachs said in a note, advising investors that precious metals "remain a relevant asset class" in portfolios.
The analysts said that digital wallets, where people can store cryptocurrencies, are vulnerable to hacking, and virtual currencies also have "significant regulatory risks." For example, China recently banned cryptocurrency exchanges and put a stop to initial coin offerings (ICOs), the new way for start-ups to raise money by issuing digital tokens.
Goldman also said that cryptocurrencies are subject to network or infrastructure risk during a crisis. For example, there was a "hard fork" this summer when bitcoin split to create a new cryptocurrency called bitcoin cash.
The investment bank said that precious metals are "still the best long-term store of value"
Source: https://www.cnbc.com/2017/10/19/bitcoin-is-not-the-new-gold-goldman-sachs-says.html
What are your thoughts?
Bitcoin and gold have some similarities but I don't want to compare both since bitcoin is a digital currency and gold is a precious metal.
But I still pick bitcoin over gold for long term store of value.
Yes I also agree with this that bitcoin is not a new gold. Tangible and intangible thing has differences in its existence. People more prefer to that thing which they can feel, touch or even see. And those things which are virtual is not so valuable for many people. The analysts said that digital wallets, where people can store cryptocurrencies, are vulnerable to hacking, and virtual currencies also have "significant regulatory risks." For example, China recently banned cryptocurrency exchanges and put a stop to initial coin offerings (ICOs), the new way for start-ups to raise money by issuing digital tokens.
Goldman also said that cryptocurrencies are subject to network or infrastructure risk during a crisis. For example, there was a "hard fork" this summer when bitcoin split to create a new cryptocurrency called bitcoin cash.
The investment bank said that precious metals are "still the best long-term store of value"
Source: https://www.cnbc.com/2017/10/19/bitcoin-is-not-the-new-gold-goldman-sachs-says.html
What are your thoughts?
Bitcoin and gold have some similarities but I don't want to compare both since bitcoin is a digital currency and gold is a precious metal.
But I still pick bitcoin over gold for long term store of value.
Therefore in this day lots of people prefer gold instead of bitcoin, because gold is more secure than bitcoin. Gold is the real currency.
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The investment bank said that precious metals are "still the best long-term store of value"
You can't really argue with this, Gold has literally been around for ages, and it has remained valuable. Bitcoin hasn't even existed for a decade. That being said, I consider Bitcoin to be digital gold.
Gold is gold and bitcoin is bitcoin. They are two diferrent asset. Gold is the best metal asset and bitcoin is the best crypto asset. If you try to make the same between gold and bitcoin, it is impossible. Gold is tangible and bitcoin is intangible. How can they be the same. When we talk about the value, there are some aspects that both are good investments. Gold is good investment for long term, whereas bitcoin is also good crypto investment for long term and for short term. Think about the risk, bitcoin is more risky than gold. I think bitcoin drags more interest to young generation because bitcoin values as money or fiat.
Maybe they think that bitcoin and gold are very valuable things. From that side I agree but overall I prefer that gold and bitcoin are very different. really as you say gold is a short-term investment and bitcoin is an investment that can be used in a short time and a long time. I also prefer bitcoin because bitcoin can give me many opportunities to earn income, besides bitcoin can also be used as a currency that has a certain value.
Bitcoin can not be compared with gold.
Bitcoin is an innovative technology + high-yield investment tool. Bitcoin today is more than gold.
Bitcoin is not a standard for supporting the fiat, this is its plus for investors.
A huge minus for use is the voluntariness, the price for bitcoins is unstable.
Goldman Sachs say one thing and do another.
Bitcoin is an innovative technology + high-yield investment tool. Bitcoin today is more than gold.
Bitcoin is not a standard for supporting the fiat, this is its plus for investors.
A huge minus for use is the voluntariness, the price for bitcoins is unstable.
Goldman Sachs say one thing and do another.
What are your thoughts?
Quote
Cryptocurrencies like bitcoin are not the "new gold," Goldman Sachs said in a note, advising investors that precious metals "remain a relevant asset class" in portfolios.
i can agree that bitcoin is not something you drop precious metals for. they have been around for a long time and have more solid prices. so "storing value" in gold for example, is much better than storing it in bitcoin.but that doesn't change anything about bitcoin and how much potential it has. i say never drop gold because bitcoin is very volatile and despite all the profit that i have gained and i know i will gain in the future, i can not deny the higher risk that it has.
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The analysts said that digital wallets, where people can store cryptocurrencies, are vulnerable to hacking, and virtual currencies also have "significant regulatory risks." For example, China recently banned cryptocurrency exchanges and put a stop to initial coin offerings (ICOs), the new way for start-ups to raise money by issuing digital tokens.
this part is completely bullshit.it is like saying buying gold is not a good idea because someone can rob your house and take it from you!
and as far China and things like that are concerned, because bitcoin is decentralized and belongs to the whole world, one country pulling some shenanigans can not affect it.
Quote
Goldman also said that cryptocurrencies are subject to network or infrastructure risk during a crisis. For example, there was a "hard fork" this summer when bitcoin split to create a new cryptocurrency called bitcoin cash.
actually the BCH fork proved that bitcoin is much stronger than this. a Quote
The investment bank said that precious metals are "still the best long-term store of value"
i see this mostly a combat between the old world and the new. and those belonging to the old not wanting to change and see the future is ahead of them.it is surprising to read this from Goldman Sachs though. because they are heavily invested in bitcoin.
What else could be the answer. They just posted the truth.
How can you hack a gold? You can only rob them and you have the chance to fight for it while in bitcoin once it is done then say goodbye to it. The physical form of gold is what makes it precious which bitcoin dont have.
Power of the internet and you will also have a problem.
I say investing with bitcoin is for risk takers. This is not something that is always safe like the banks. You will always be prone to attacks.
How can you hack a gold? You can only rob them and you have the chance to fight for it while in bitcoin once it is done then say goodbye to it. The physical form of gold is what makes it precious which bitcoin dont have.
Power of the internet and you will also have a problem.
I say investing with bitcoin is for risk takers. This is not something that is always safe like the banks. You will always be prone to attacks.
As far as I know Bitcoin or any other currency never got hacked. Just services built on top of it!!!
And yes Bitcoin is not like Gold,as it is not physically available. Bitcoin is digital gold!!!
Whatever Goldman Sachs may say, firstly I believe they sit on a shitload of metal papers and are scared in some way, and secondly people will continue flocking into Bitcoin!!! Statements like this make me even more bullish on the long run!
of course it is not! bitcoin is something much better than gold!
while gold is just an element which happens to have value, bitcoin is a digital currency which is also decentralized and it has been a revolution since it has already changed the way currency system works.
before bitcoin nobody could even think of a decentralized money that no government controls! now we have bitcoin and thanks to it another thousands of other altcoins.
while gold is just an element which happens to have value, bitcoin is a digital currency which is also decentralized and it has been a revolution since it has already changed the way currency system works.
before bitcoin nobody could even think of a decentralized money that no government controls! now we have bitcoin and thanks to it another thousands of other altcoins.
I`m pretty sure that Goldman Sachs owns bitcoins and they are starting to FUD again,hoping that the bitcoin
price will decrease under 5000 USD ,so they could buy more btc.
They are right about the major risks ,but forget to mention that the vulnerability against hacking is decreasing and cryptocurrency wallets and exchange platforms became more and more secure.
price will decrease under 5000 USD ,so they could buy more btc.
They are right about the major risks ,but forget to mention that the vulnerability against hacking is decreasing and cryptocurrency wallets and exchange platforms became more and more secure.
Well that is a fact bitcoin can never be the new gold, unlike gold bitcoin can never be tangible. Gold's worth is determined by its purpose and use, while for bitcoin it is determined by its demand. As long as there are many people who wants a piece of the coin it will have a worth. Gold was there for a long time and time will come a new gold will be made.
Before salt was the basis of wealth. The word salary even came from it because it is used to pay workers, it has big value before because of its use but now salt is only on your kitchens.
What else could be the answer. They just posted the truth. How can you hack a gold? You can only rob them and you have the chance to fight for it while in bitcoin once it is done then say goodbye to it. The physical form of gold is what makes it precious which bitcoin don't have. Power of the internet and you will also have a problem.
I say investing with bitcoin is for risk takers. This is not something that is always safe like the banks. You will always be prone to attacks.
I say investing with bitcoin is for risk takers. This is not something that is always safe like the banks. You will always be prone to attacks.
I am a Bitcoin enthusiast and I believe in the future of cryptocurrency. However, I also agree with that statement coming from Goldman Sachs. The physical gold will always be valuable and will always be the real safe haven. Right now, Bitcoin has higher risks partly because almost all of us are speculators which is also understandable since Bitcoin is still relatively new.
The difference can be quite clear in discussing between the real gold and Bitcoin touted as the digital version of gold. The main difference is of course volatility and though some consider it as one of the disadvantages of Bitcoin it actually also attract many players into Bitcoin and depending on how we look at it because it can be good or bad maybe depending on the situation.
And lastly, in terms of earnings and ROI so far Bitcoin is beating the real gold that is why many fund managers are transferring some of their gold deposit to Bitcoin. In other words, there is nobody stopping anybody to invest in the real gold and also getting involved with cryptocurrency as one of the investment tools or baskets.
As they say, never put your baskets into just one single egg...or is it the other way around?
Gold is not a good store of value. More gold is discovered all the time.
look at this for instance
http://www.mining.com/1-trillion-motherlode-of-lithium-and-gold-discovered-in-afghanistan/
and tell me why I should buy gold when new gold can be dug up from the ground?
bitcoin is much more rare!
look at this for instance
http://www.mining.com/1-trillion-motherlode-of-lithium-and-gold-discovered-in-afghanistan/
and tell me why I should buy gold when new gold can be dug up from the ground?
bitcoin is much more rare!
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