Bitcoin or gold? - page 493. | Bitcointalksearch.org

acquafredda

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Quote from: bryant.coleman on December 08, 2015, 01:02:06 PM

Quote from: acquafredda on December 08, 2015, 12:24:16 PM

-snip-

I am not sure whether your chart is showing the correct data. The mine production of gold is increasing by around 4% to 5% per year, despite the labor issues in South Africa (one of the most important gold producers in the world). Some 2,860 tonnes of gold were mined out in the year 2014, with more than one-sixth of that output occurring in China.

-snip-

Thanks for your input: I basically read everywhere that gold mining is becoming very expensive/difficult to extract hence production goes down. Can you please give me the link/source where you found that chart?

justspare

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Screw gold. Bitcoin all the way. Much better for making a profit. Gold's price is too stable for me to invest in it.

helloeverybody

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I actually prefer gold since its something you can physically hold, there's just something nice about it. Saying that, I have more in btc than I do in gold.

lsyzdw

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Quote from: Schnitz on March 10, 2014, 04:23:19 AM

Because you said EITHER...OR the answer needs to be GOLD.

bryant.coleman

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Quote from: acquafredda on December 08, 2015, 12:24:16 PM

Mining gold today is very expensive even for the richest companies. It is simply very hard to find it and make it pure.

As you can see production is going down: even if the chart is an old one the production is till going to the bottom. But the price also went down in the last years. If a world crisis will surge expect gold price to skyrocket: history repeats itself.
And, maybe, even BTC will go up as well. Good to have both.

I am not sure whether your chart is showing the correct data. The mine production of gold is increasing by around 4% to 5% per year, despite the labor issues in South Africa (one of the most important gold producers in the world). Some 2,860 tonnes of gold were mined out in the year 2014, with more than one-sixth of that output occurring in China.

chennan

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Quote from: USB-S on December 08, 2015, 12:31:19 PM

Quote from: acquafredda on December 08, 2015, 12:24:16 PM

Mining gold today is very expensive even for the richest companies. It is simply very hard to find it and make it pure.

As you can see production is going down: even if the chart is an old one the production is till going to the bottom. But the price also went down in the last years. If a world crisis will surge expect gold price to skyrocket: history repeats itself.
And, maybe, even BTC will go up as well. Good to have both.

Bitcoin has a more predictable rate of supply, however gold has been and is more stable. No one is the wiser until the next financial crisis happens. My prediction would be that there is going to be a flood of new adopters to both systems.

However it is indeed wise to own both.

If you think about it this way, it makes it seem like Bitcoin may be at a disadvantage compared to gold:

Mining gold isn't a necessary ingredient for the success of the market for gold. With Bitcoin, however, there needs to be always some kind of need for consistent hashing power towards mining for a secure network, and there fore a secure market. It'll be interesting what happens to Bitcoin after a couple more halving a after this one coming up next summer.

Blind Legs Parker

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I'd choose gold for its stability and bitcoin for its potential. I think both are great assets, with different pros and cons.

Quote

its just that
im a bit skeptical if bitcoin will survive that long when space travel is
allowed for civilians.

Why not? Why would two planets have to use the same currency (or store of value, for that matter)? Nowadays two neighbouring countries don't even do so. Convertibility is what you're looking for. If the internet can't connect people from one planet to another, charts will do the job. But it's true that gold will have an advantage on bitcoin when it comes to that.

Anyway, that's a very remote future that we're talking about. Maybe space travelling for civilians is something that we'll see before leaving this life (and I'm talking about close destinations like the moon and stuff, if even it becomes possible during the course of the next 50 years, which I seriously doubt, by the way). But currencies used somewhere else then on Earth? Nah, I don't buy it. At least not before several centuries. We won't be here anymore anyway.

USB-S

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Quote from: acquafredda on December 08, 2015, 12:24:16 PM

Mining gold today is very expensive even for the richest companies. It is simply very hard to find it and make it pure.

As you can see production is going down: even if the chart is an old one the production is till going to the bottom. But the price also went down in the last years. If a world crisis will surge expect gold price to skyrocket: history repeats itself.
And, maybe, even BTC will go up as well. Good to have both.

Bitcoin has a more predictable rate of supply, however gold has been and is more stable. No one is the wiser until the next financial crisis happens. My prediction would be that there is going to be a flood of new adopters to both systems.

However it is indeed wise to own both.

acquafredda

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Mining gold today is very expensive even for the richest companies. It is simply very hard to find it and make it pure.

As you can see production is going down: even if the chart is an old one the production is till going to the bottom. But the price also went down in the last years. If a world crisis will surge expect gold price to skyrocket: history repeats itself.
And, maybe, even BTC will go up as well. Good to have both.

MR.Seller

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bitcoin is not stable yet for real world maybe at the right time. But for me I choose gold. Gold is century and This thing has been a valuable and highly sought-after precious metal for coinage, jewelry, and other arts since long before the beginning of recorded history. So bitcoin is more far to replace gold

neochiny

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Quote from: eternalgloom on December 08, 2015, 09:09:01 AM

Quote from: dragonusa9 on December 06, 2015, 12:22:44 PM

im choosing gold
because bitcoin is still easy to get with faucet/mining/trading/signature campaign
and to obtain bitcoin you need internet and computer/mobile phone
but gold, you must mining on earth with supercomputer and other super technology
also the gold in world is not unlimited and the price will rise from now onward

That would not last forever, there could still be massive gold deposits in places that were inaccessible before, like Greenland for example.
Or once companies start mining asteroids for resources, prices will drop once the costs drop.

gold price may drop but the value of it will stay, plus when companies start
mining asteroids im pretty sure that it will be far in the future, its just that
im a bit skeptical if bitcoin will survive that long when space travel is
allowed for civilians.

deisik

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English ⬄ Russian Translation Services

Quote from: eternalgloom on December 08, 2015, 09:09:01 AM

Quote from: dragonusa9 on December 06, 2015, 12:22:44 PM

im choosing gold
because bitcoin is still easy to get with faucet/mining/trading/signature campaign
and to obtain bitcoin you need internet and computer/mobile phone
but gold, you must mining on earth with supercomputer and other super technology
also the gold in world is not unlimited and the price will rise from now onward

That would not last forever, there could still be massive gold deposits in places that were inaccessible before, like Greenland for example.
Or once companies start mining asteroids for resources, prices will drop once the costs drop.

The gold from asteroids would be as expensive as hell, even if there are gold asteroids in existence at all...

eternalgloom

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Quote from: dragonusa9 on December 06, 2015, 12:22:44 PM

im choosing gold
because bitcoin is still easy to get with faucet/mining/trading/signature campaign
and to obtain bitcoin you need internet and computer/mobile phone
but gold, you must mining on earth with supercomputer and other super technology
also the gold in world is not unlimited and the price will rise from now onward

That would not last forever, there could still be massive gold deposits in places that were inaccessible before, like Greenland for example.
Or once companies start mining asteroids for resources, prices will drop once the costs drop.

zivone

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As of now, I trust gold more than bitcoin. I know this forum is about bitcoin but I somewhat stick to reality.

isvicre

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Quote from: tkbx on March 09, 2014, 01:21:54 PM

If you had to convert all your wealth to either Bitcoin or gold and keep it there for 10 years, which would you choose? Keep in mind the fact that Bitcoin has only been around for 5 years, and could be fundamentally different in any number of ways in 10 years.

If I want to choose gold I wasn't mess around in Bitcointalk, I'd go for goldtalk or something like that. Bitcoin is the new gold, you should follow the trends. You can't move all your gold inside your pocket, but you can with Bitcoin. Wherever you go you have access to all your funds. That's economical revolution.

InsideBjorn

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I would do both, because for now I am kinda learning about bitcoin and with gold is just nice to have it.
But I think in the future bitcoin is the beter choice.

ThePlan

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For thousands of years, gold has been the international currency, and for good reason. Gold is a substance that is in high demand and there is a finite amount that can be produced.
Bitcoin, through cryptography,was created on this very principles.Bitcoin must be mined,is in high demand and there is a only finite amount that is available-just like the gold.
Relatively to its short history, Bitcoin has made a significant global impact and has become popular with those who seek an alternative to fiat currency. Only time will tell which has more upside : Bitcoin or Gold.

ivanst776

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Quote from: lama-hunter on December 06, 2015, 10:30:21 PM

I think you should invest in both the be stable Guys Cool

Both maybe the Bitcoin will be the better Option in the Future to transfer via peer to peer Roll Eyes

Anyways where do you hold your bitcoin and Gold guys? this is something which interestes me because maybe u have another way to earn while its just invested ;9

Would be great to know

reagrds
lama-hunter

Bitoins should be hold in cold wallet if you think as long term investment, but for gold maybe in the bank or in a safe place where you live.

Amph

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Quote from: bryant.coleman on December 06, 2015, 01:34:22 PM

Quote from: thejaytiesto on December 06, 2015, 11:08:29 AM

And we only need half a trillion to drive the price to a literal moon. We have way more chances to see BTC hit a trillion dollar marketcap in the next decade than we have to make any type of life changing money by investing in gold right now. Gold market is too dense already.

Gold is having such a huge market cap, because it is accepted almost universally. But the same can't be said about the other currencies. As far as I know, there are only two fiat currencies with a circulation value (market cap) of more than $1 trillion (the Euro and the United States Dollar). It will be next to impossible for Bitcoin to reach that mark.

it's only depend on the adoption, and on the time, gold is also very old, much older than usd and especially euro and bitcoin is still very new, so they ar enot really comparable

we can talk about this when a century has passed for bitcoin, at least

raaajlucky

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Quote from: futurebit640 on December 07, 2015, 01:46:35 AM

Quote from: lexuz on December 06, 2015, 07:19:22 PM

Quote from: MR.Seller on December 06, 2015, 11:11:40 AM

Quote from: bearex on December 03, 2015, 10:33:18 AM

Little bit of both, but since Bitcoin is not yet widely used, if i had to get only one, i would get gold.

I agree, Gold for now btc can't competent gold of course. Maybe in the future BTC can go with the level of gold o more. then in that case I'll go for BTC I wish it booms in 5 years from now ^_^

I guess you like because gold have physical, right? But if you like trading you will choice btc because btc price is fluctuative and you can get profit fast . Just sharing

I think both btc and gold are good. To reduce loses it is better to diversify our investments in few different products. So I like to invest my money in both gold and btc. Gold is mostly for long term profits but btc fluctuates quite fast so we can make some good profits in short term. I keep some coins for long term appreciation and most of them use it for trading purpose.

Yes diversifying investments is a good option to reduce risks during financial crisis and I also buy both gold and Bitcoin. Also invested in real estate.

Topic: Bitcoin or gold? - page 493. (Read 984460 times)