Bitcoin or gold? - page 542. | Bitcointalksearch.org

BTCevo

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Quote from: Drogon on June 25, 2015, 05:02:29 AM

In my opinion bit coin has all the properties of gold plus extra which just improves it.

Nope, bitcoin is winning about its technology, and the speed of transcation and yes the volatile price Grin

and there is nothing else

Quote from: Anony on June 26, 2015, 05:59:48 AM

It is difficult to change the of people to invest in bitcoins either invest in gold.
Both have their own values ,bitcoins need support mainly due to market demand,increased investments and network effect.
Similarly, gold has set a standard in the economy and it is going to maintain it in the future too.
On comparing, Bitcoin is ideal for everyday transaction and gold is still important in rebuilding the economy. Grin

Its true both of them have their own values, but gold is kind of promising investment if you compared to bitcoin. I dont know what people said about bitcoin but what I do know is bitcoin is just some kind of short investment but gold is a long investment. I didnt say you can't invest both, may be you can diversify it but you must take a deep closer look which one is really worth to invest

jones techbit

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Gold and Silver just isn't practical at the moment with how easy it is for authorities to seize it and they have absolutely no respect for personal property or privacy

Anony

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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.

It is difficult to change the of people to invest in bitcoins either invest in gold.
Both have their own values ,bitcoins need support mainly due to market demand,increased investments and network effect.
Similarly, gold has set a standard in the economy and it is going to maintain it in the future too.
On comparing, Bitcoin is ideal for everyday transaction and gold is still important in rebuilding the economy. Grin

Amph

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Quote from: mahi4ever on June 25, 2015, 10:25:37 AM

We can take in loan for gold and can deposit in bank and achieve interest on them.

you are speaking about virtual gold i guess, because it would be troublesome to move the gold from one place to another, not really practical

and anyway how it work with collateral? or there are specific website for something like that?

Erza

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Quote from: GreenStox on June 25, 2015, 09:24:53 PM

We can take in loan for gold and can deposit in bank and achieve interest on them.

Did you mean using loan to get some gold bar then put that gold bar into bank and get interest to pay the loan? If you mean that way I dont think that

your interest can cover the loan of gold bar because the payout for bank interest is low. Btw if you do that whats the point of having investment? You

will get nothing then

Btree

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bitcoin é uma árvore que vai continuar a crescer

Quote from: mahi4ever on June 25, 2015, 10:25:37 AM

We can take in loan for gold and can deposit in bank and achieve interest on them.

good idea but we must think about interest that Loan, better we use that gold to trade on market
if gold price up we sell on near market in your place

GreenStox

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Quote from: mahi4ever on June 25, 2015, 10:25:37 AM

We can take in loan for gold and can deposit in bank and achieve interest on them.

You mean take out an loan, buy gold and temporarly pay the interest from your salary, but at the end when you sell your gold bar, you gain more than your loan was paid + all the interest on it?

mahi4ever

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We can take in loan for gold and can deposit in bank and achieve interest on them.

deisik

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Quote from: manselr on June 25, 2015, 07:00:28 AM

Quote from: Amph on June 25, 2015, 02:28:19 AM

Quote from: GreenStox on June 24, 2015, 07:26:07 PM

Gold is a very interesting element out there, but despite it's appeal, it is very hard for me to consider it money.

Its the same as diamonds, emeralds and rubys, all of them are shiny precious assets, but none of them are money, they are just valuable commodities

Bitcoin is money.

as a far as i know(joking here), the value to a thing(any thing) is given by us, by supply and demand, and not by an astronomical entity, everything has value and in the same time everything has not it

this is the reason why something cannot really be considered more worthless if one day there will be more adoption for it

something is really without value only if no one care about it

Anything that can represent value that you can use to exchange goods is money.. including diamonds, emerland and ruby, but in modern society it was constituted that fiats are money.
Bitcoin is a objectively superior form of money, still unknown to society. This is a paradigm shift that will take time.

I don't think it is something that could be called a paradigm shift. I can't figure out even one conceptual difference between gold and bitcoin that would justify such a claim

Quote from: manselr on June 25, 2015, 07:00:28 AM

As for intrinsic value, nothing has intrinsic value, except food, whater and shelter, because everyone needs those, so those are ALWAYS in demand, therefore it can be deduced that they have intrinsic value, because they'll be forever in demand.

What about air? If it has intrinsic value (which seems to be pretty obvious), why there is no market demand for it overall (but please don't repeat the old story about clean air vs polluted air)? I guess that not everything that has what you call intrinsic value, is always in demand...

Aren't you missing something?

manselr

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Quote from: Amph on June 25, 2015, 02:28:19 AM

Quote from: GreenStox on June 24, 2015, 07:26:07 PM

Gold is a very interesting element out there, but despite it's appeal, it is very hard for me to consider it money.

Its the same as diamonds, emeralds and rubys, all of them are shiny precious assets, but none of them are money, they are just valuable commodities

Bitcoin is money.

as a far as i know(joking here), the value to a thing(any thing) is given by us, by supply and demand, and not by an astronomical entity, everything has value and in the same time everything has not it

this is the reason why something cannot really be considered more worthless if one day there will be more adoption for it

something is really without value only if no one care about it

Anything that can represent value that you can use to exchange goods is money.. including diamonds, emerland and ruby, but in modern society it was constituted that fiats are money.
Bitcoin is a objectively superior form of money, still unknown to society. This is a paradigm shift that will take time.
As for intrinsic value, nothing has intrinsic value, except food, whater and shelter, because everyone needs those, so those are ALWAYS in demand, therefore it can be deduced that they have intrinsic value, because they'll be forever in demand.

Drogon

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In my opinion bit coin has all the properties of gold plus extra which just improves it.

BillyBones

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It is like asking the difference between Apple and Orange, Bitcoin always called as digital gold, it contains the word of gold, since the value of gold never erase. Well about the Value of Bitcoin, it has its own pioneering future in the arena of financial markets.

deisik

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Quote from: GreenStox on June 24, 2015, 07:26:07 PM

Gold is a very interesting element out there, but despite it's appeal, it is very hard for me to consider it money.

What about gold coins? Do you also not consider them as money? I don't say about using them at face-value, but I know people that paid in them (according to market gold price) when making big purchases (e.g. buying real estate)...

Amph

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Quote from: GreenStox on June 24, 2015, 07:26:07 PM

Gold is a very interesting element out there, but despite it's appeal, it is very hard for me to consider it money.

Its the same as diamonds, emeralds and rubys, all of them are shiny precious assets, but none of them are money, they are just valuable commodities

Bitcoin is money.

as a far as i know(joking here), the value to a thing(any thing) is given by us, by supply and demand, and not by an astronomical entity, everything has value and in the same time everything has not it

this is the reason why something cannot really be considered more worthless if one day there will be more adoption for it

something is really without value only if no one care about it

GreenStox

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Quote from: AlexGR on June 24, 2015, 07:37:25 PM

Quote from: GreenStox on June 24, 2015, 07:26:07 PM

Gold is a very interesting element out there, but despite it's appeal, it is very hard for me to consider it money.

Its the same as diamonds, emeralds and rubys, all of them are shiny precious assets, but none of them are money, they are just valuable commodities

Bitcoin is money.

The only thing that makes your perception of fiat currency to be worth more than gold, is its artificial stability - which is considered a "given" in western-type countries.

For example, if you lived in a country with serious inflation or currency devaluations, you would not value your national currency. You would take gold (or any hard asset) every time, instead of the national fiat currency, because it actually IS better money than the devaluing fiat.

Billions of people live in countries like these, and for them gold provides a kind of stability that fiat money can't. Same goes for bitcoin (being more volatile). Still, if you are in a country with a weak national currency, bitcoin is almost as good as any hard foreign currency, so it's preferable to local currency.

In a sense, the billions of people living in countries with weak national currencies have far more to gain by adopting gold and bitcoin, compared to "stable" economies that run USD, EUR, GBP etc.

Gold is a stable asset, bitcoin is a stabilizing currency.

Bitcoin should become stable in the next 2-3 years, then it will be the most stable currency out there (stable also counts if it appreciates 2000%)

Gold will stay more or less the same, since gold is just a metal, it wont be worth more than it is, only if you find new properties of it.
It is only that other currencies will devalue faced to gold.

Bitcoin will become ever incresing since bitcoin is a currency, representing a whole ecosystem of faucets, exchanges, gambling sites, and more. If this underlying economy grows, bitcoin will grow. And it has no reason not to grow

AlexGR

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Quote from: GreenStox on June 24, 2015, 07:26:07 PM

Gold is a very interesting element out there, but despite it's appeal, it is very hard for me to consider it money.

Its the same as diamonds, emeralds and rubys, all of them are shiny precious assets, but none of them are money, they are just valuable commodities

Bitcoin is money.

The only thing that makes your perception of fiat currency to be worth more than gold, is its artificial stability - which is considered a "given" in western-type countries.

For example, if you lived in a country with serious inflation or currency devaluations, you would not value your national currency. You would take gold (or any hard asset) every time, instead of the national fiat currency, because it actually IS better money than the devaluing fiat.

Billions of people live in countries like these, and for them gold provides a kind of stability that fiat money can't. Same goes for bitcoin (being more volatile). Still, if you are in a country with a weak national currency, bitcoin is almost as good as any hard foreign currency, so it's preferable to local currency.

In a sense, the billions of people living in countries with weak national currencies have far more to gain by adopting gold and bitcoin, compared to "stable" economies that run USD, EUR, GBP etc.

GreenStox

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Gold is a very interesting element out there, but despite it's appeal, it is very hard for me to consider it money.

Its the same as diamonds, emeralds and rubys, all of them are shiny precious assets, but none of them are money, they are just valuable commodities

Bitcoin is money.

roadbits

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The value of Bitcoins will be driven by supply and demand; in essence, it is backed by what people are willing to trade for it; the same as gold.

GreenStox

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Quote from: Btree on June 23, 2015, 09:15:49 AM

Quote from: Erdogan on June 23, 2015, 08:12:28 AM

If you believe gold is set to rise in price an want to profit from it, go for companies that own gold ores. It is of no use to own a company that has to rent the ore on a variable price contract. You have to own the land, a long term lease, the mining rights or the produced gold itself. The simplest is to just own the gold, the same as with bitcoin.

cost of mining gold is very high than bitcoin, obtaining permitting documents it's not a simple like you say.

Yes not to mention the amount of money it needs to build the station up and pay the miners.

But the cost of bitcoin mining doesnt correlate with it's inflation. If the number of miners on bitcoin increase by 1000x bitcoin wont inflate more.

Erdogan

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Quote from: deisik on June 23, 2015, 02:28:28 PM

Quote from: Erdogan on June 23, 2015, 02:18:03 PM

Quote from: deisik on June 23, 2015, 09:30:29 AM

Quote from: Erdogan on June 23, 2015, 09:28:51 AM

Quote from: deisik on June 23, 2015, 09:20:12 AM

Quote from: Erdogan on June 23, 2015, 09:02:20 AM

Can I, really? What is the cost of gold mining on Isle of man? It is unknown, because there is no mine there. They have gold, it is everywhere, but they don't mine it for obvious reasons. What about the best mines in South Africa? They have a higher ground rent because of the good ore, but that is all they have. In fact, all gold miners, including those in South Africa, struggle with cost approaching gold price. If some country has lower taxes or cheaper labour, they have ~~less rich ore~~ some other factor that costs more. It did not come to this by way of mystery, it is the market.

I don't know about South African mines, but the American ones (that is, companies owning them) are obliged to publish gold production reports (including costs of mining). The first entry in Google search reveals what you are asking for...

Regarding gold miners struggling with costs approaching gold price, I'm afraid you are severely misinformed

They expand the mine. That is how the market regulates the cost.

I don't understand what you are referring to and how it is related to the production costs of gold

I read your link, I guess it was your reason to include it. Look, this whole shabang is just a description of the markets. There are some differences to the different fininshed products, regarding age of capital, degree of direct usefulness, production and consumption to hoarding ratio and so on, but basically, I described the market mechanism.

Whom are answering now? What does this blue streak of quasi-coherent words refer to?

Sorry, I need to take a break from your polemics again.

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