Topic: Bitcoin is not the new gold, Goldman Sachs says - page 3. (Read 759 times)
It's not the new gold. It's a total different system. Gold will forever have a value and back up fiat. But Bitcoin doesn't need a physcial backing as it's proved over the years
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.
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.
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.
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.
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.
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