Topic: Bitcoin or gold? - page 522. (Read 984547 times)

Bitcoin is much easier to divide than gold is. Gold was also used as currency for thousands of years. Many countries and civilizations used gold coins as their currency. Bitcoin can be used just like gold was as a currency in the past.

I could choose both because Bitcoin currency is quite strong, all gold and gold remains

And like how do you escape a country with a bag of gold, don't you think you get robbed? Perhaps by even border guards?

There are tons of corrupt border guards that just steal your stuff on plain sight with the justification that: "you cannot bring that out of the country". I know this for a fact because I have been robbed by them pigs.

Same with cash, sure if you put it in your panties then it might be safe (although not if you are a woman, because who knows what rapist can find it there).

Bitcoin is the only choice to move money safely, although I see your point that bitcoin can't buy you food and water in a warzone, but soon it will, so time will tell

There is a war in Syria at the moment.You are a man who has a family.You want to escape.If you have gold or USD you may save your life and belovings.If you have BTC, you can not.

If you survived you may carry your BTC with you to a safe city / country and and save your life quality.

Everyone must have some gold, USD/EUR and BTC.They are instruments with cons and pros.You must know how and where to use them.

My choice..... Bitcoin

If your read the earlier posts then you will get many reasons why you gold is better option then bitcoin for long term investment. I think you have posted this question without reading the thread.

any 1 can give me 1 reason why Gold is better than bitcoin ?
i never think to invest at gold, Invest at stock, bitcoin is best way

Gold is for chaotic times.When there is high inflation and you search for an address to park your money you buy gold.It does not burn, it is phisical.It is a tangible asset.However, Bitcoin is intangible, easy to carry, easy to hide.BTC is not for chaotic times but on contrary.

Both gold and BTC is fully convertible.They both have dividends and multiples.

Which I prefer?Both.

Can you pay for things online with gold or silver instantaneously, or send fractions of gold or silver over the Internet to friends or family in seconds?

You are right that the problems deserve a slightly longer explanation and I do not doubt that you understand it. But... it is good to remember sometimes, because an investor can come to the wrong conclusion. In bitcoin and also in gold, the cause and effect is rather straightforward and easy to see, but for instance in housing, you can hear a statement like this:

"Houses can not be cheaper, because it cost so and so much to build one."

But no, that is not the direction of the relationship. The consumers of houses (and speculators) value the houses, and if they value them less, the building cost will have to come down. How? For instance by easier regulation, cost saving in the production chain, reduced wages in the production, choosing less expensive land spots, smaller units, thinner walls. And of course also building less houses, more people crammed into the old houses (you might think this is not cost reduction, but it is when you think that the houses that are not built, are those who would be more costly). Whatever it takes, the cost must go down when the price goes down.

You remind me of someone who in reply to the statement that the glass is half full is breaking himself to pieces to prove that the glass is actually half empty, wtf...

It is the profit margin that is being rebalanced through the supply-and-demand mechanism

First I prefer Bitcoin and by trading I will earn money and store it in the form of gold.
Both of these assets have a good market and according to me, it will never end.

I have considered both, but I see more future in Bitcoin than in Gold. We're in the computer age now, and it will be like this for a very long time.

yes you have a point here but it's really hard to completely rule one another out against each other , there is already some restaurant,pharmacy and small hospital (forgot where was it) that accept bitcoin but its hard to find similar situation in which you can say I will pay with the gold I have for their services

Yes surely for long term investment definitely I will not suggest bitcoins because so for in the world no country is considered as a official currency hence the future of bitcoin is completely unknown. Every one is just hoping that in future most of the businesses will accept bitcoins and it will grow faster but all these are just a hopes so do not put your long term investments on hopes. So gold is the best option for long term investment compared to bitcoins. Gold also is a limited so sure it will grow over the years and just forget all these short term price movements.

Not really. You have to see this: https://www.youtube.com/watch?v=sUr2E4dfs0Y to understand the culture, how they buy gold and not intend to sell it, how they see the ever-increasing price of gold, how even the poorest of the poor go out to buy 1g gold bars etc, how they dump fiat to buy gold and do not even consider that they have "spent" money because gold IS money for them, etc etc.

Bitcoin is not a real rival to gold in cultures like these (which, incidentally, has a population that EU+N.America can't match). Bitcoin is more like a facilitator of online transactions and something that gives you access to p2p banking services, without banks. If it can also be a great store of value, or even give multiple % gains, that's great.

Gold is your "savings" while bitcoin is more like your online banking.


His observation isn't inaccurate per se although what causes what can be debatable in some cases.

But he was wrong. It is the production cost that gravitates towards price. The value consumers allocate through the market, based on everything in the individuals' minds.

Yea but gold mining isn't necessary, while bitcoin mining it is.

I disagree with satoshi on that, the price is always set by supply and demand (unless its rigged at which point it doesnt matter).


Yea but why would you buy gold if bitcoin is a better alternative. Sure there could be some rich guys in India that dont know or dont trust bitcoin yet, but once they begin to trust bitcoin more, i`m sure bitcoin will prevail.

Not to mention that after a bail-in haircut theft session begins, the popular targets for the haircut will be: saving accounts,checking accounts and gold vaults. Bitcoin cannot be stolen by that large amounts.



Sure but that is inflation hedging, you dont make ROI with that, you just keep your previously owned wealth.

With bitcoin you can do ROI as the bitcoin economy is rapidly expanding (without printing money schemes) and wont have "recession", because in a free market you cannot have recession as every minor tragedy is priced in rather than postponed for 8 year crash cycles.

The virtual supply is a concern, because it can be a pump and dump scheme, who knows maybe their plan is to surpress the price, buy it all up, and then when it starts to go up they will sell into the rise (very popular trading tactic), and then it will collapse back.

Since gold cant be used as a currency, i already told you that the only thing you can do is to BUY LOW & SELL HIGH (OR BUY HIGH & SELL LOW if you get suckered into the ride)

You have to understand that there are economies where the national currency is devalued at a rate that makes gold a much better prospect than holding the national currency for the long-term. India has a tradition of gold-buying and, not only that, but they actually consider gold as money and fiat as something useless to be dumped to get gold.

Some western economies with strong currencies do not see the issue of gold in the same light, but, then again, western economies are not suffering from rampant inflation or rampant currency devaluation etc.

In the end of the day, gold is priced by fiat. And if fiat money supply is increasing rapidly, then the ratio of fiat supply:gold supply favors an increase in the price of gold. So it's not a foregone conclusion that gold is a sinking ship etc etc. In fact, maths point to the exact opposite happening as fiat supplies increase.

The fact that gold/silver prices are suppressed by virtual supply, is one more element we have to consider. If one man can make a campaign like "crash jp morgan, buy silver" and take silver from <10$ to 50$ for the lolz, then that doesn't really provide much confidence for the fiat scam.

Remember that the mining scheme of BTC is economically modeled, in a way, after gold mining and commodity production costs as fair value.

Satoshi said: "The price of any commodity tends to gravitate toward the production cost. If the price is below cost, then production slows down. If the price is above cost, profit can be made by generating and selling more. At the same time, the increased production would increase the difficulty, pushing the cost of generating towards the price. In later years, when new coin generation is a small percentage of the existing supply, market price will dictate the cost of production more than the other way around."

BTC and Gold, in a way, are similar due to the energy-value-backing used to mine them.