Bitcoin or gold? - page 544. | Bitcointalksearch.org

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: GreenStox on June 22, 2015, 09:55:51 PM

Gold can be traced too, you leave fingerprints on the gold bars, DNA samples, and much more.

I mean everything can be traced if you try hard enough. So its not about that.

The main forte of bitcoin over gold is it's ease of transfer.

30M$ worth of gold can only be carried by a truck, the same amount in bitcoin can be carried in your pocket!

gold traceability is also much more easy to do then bitcoin, there is no comparison, especially if you mix well your coin with altcoin ecc...

digital gold solve the problem of carrying it though, you only need to store it in a secure location, then you can go ahead and use is digital counterpart

deisik

legendary

Activity: 3486

Merit: 1280

English ⬄ Russian Translation Services

Quote from: Erdogan on June 23, 2015, 06:12:47 AM

Quote from: Possum577 on June 23, 2015, 02:48:02 AM

Is there a lot of news about how gold isn't as scarce as we all believe? That gold mining firms control supply to keep the price stable and high and to keep jewelry wholesalers buying? I think I'd choose bitcoin, but obviously it's easy to take more risk when we're talking hypothetical situations.

Gold is everywhere, it can be extracted from water, it can be mined in space. A new rich ore can be found, a large hoard may be sold off suddenly. These scares have existed for millennia, and they are true, but the real source of scarcity is the cost of mining, which can not be higher than the price of gold.

This can be misleading. Two things immediately come to mind when someone talks about costs, especially those of gold and oil. The first thing is the higher the price of gold the more profitable (or just profitable) the mining of more depleted ores (or oil fields) becomes as well as deploying methods of extraction that otherwise wouldn't be profitable at all (up to the extraction of gold from sea water). The second thing confirms the first, that is, the price of gold as back as in 2002 was just above 200$ ounce. Now it is about 1,200$ an ounce. Did the costs increase 6 times since then?

Erdogan

legendary

Activity: 1512

Merit: 1005

Quote from: Possum577 on June 23, 2015, 02:48:02 AM

Is there a lot of news about how gold isn't as scarce as we all believe? That gold mining firms control supply to keep the price stable and high and to keep jewelry wholesalers buying? I think I'd choose bitcoin, but obviously it's easy to take more risk when we're talking hypothetical situations.

Gold is everywhere, it can be extracted from water, it can be mined in space. A new rich ore can be found, a large hoard may be sold off suddenly. These scares have existed for millennia, and they are true, but the real source of scarcity is the cost of mining, which can not be higher than the price of gold.

Possum577

sr. member

Activity: 434

Merit: 250

Loose lips sink sigs!

Is there a lot of news about how gold isn't as scarce as we all believe? That gold mining firms control supply to keep the price stable and high and to keep jewelry wholesalers buying? I think I'd choose bitcoin, but obviously it's easy to take more risk when we're talking hypothetical situations.

GreenStox

sr. member

Activity: 1148

Merit: 252

Undeads.com - P2E Runner Game

Gold can be traced too, you leave fingerprints on the gold bars, DNA samples, and much more.

I mean everything can be traced if you try hard enough. So its not about that.

The main forte of bitcoin over gold is it's ease of transfer.

30M$ worth of gold can only be carried by a truck, the same amount in bitcoin can be carried in your pocket!

Acidyo

hero member

Activity: 588

Merit: 500

Will Bitcoin Rise Again to $60,000?

Quote from: Amph on June 22, 2015, 10:58:40 AM

Quote from: Valta Crypto on June 22, 2015, 10:27:23 AM

Quote from: GreenStox on June 22, 2015, 10:19:11 AM

Quote from: markj113 on June 22, 2015, 06:50:11 AM

Gold is supported by governments and rich individuals who like power and control.

Bitcoin at the moment in the big scheme of things is a small market cap minor distraction to these people. Should it start to grow to a point where the people above feel threatened or start to loose some power or control they will simply ban Bitcoin.

Some may say you cant ban bitcoin etc. but if the government do decide to ban it a large % of population will cease to use it preventing it becoming mainstream causing the price to crash.

Russia and China are buying gold as quick as they get their hands on it for a reason, the same cant be said for BTC

They cannot ban it anymore, i mean it has passed the "ban singularity" at this point the only thing they can do is to tax it or regulate it. Or atleast try doing those.

They cant ban it because more then 80.000 merchants use it, and we got a strong lobby community + politicians already ask "campaign donations" in bitcoin, so my impression is that they like Bitcoin, because anonymity is good for them too.

Anonymity? That's why there's cash. Bitcoin transactions are fully traceable.

yet it is not that easy as you think, to find the real owner of that particular address, also you need to do a very hard job, if the coin are well mixed, and you know that this isn't free for the government, if you elevate this to a greater order of magnitude(many people to track back)

then it could become really expensive to track them all

Yeah this is true, tracking down bitcoin and making it full untraceable is quite easy if you understand what you are doing and cover your tracks. Mixing properly and paying more than the flat .5% fee is a good step to take. If you don't know how to use the mixer, and take steps like this...yeah you can get tracked. Bitcoin is fully traceable as it sits on its own, but if you are taking the right steps, is very untraceable...and its why most hackers are never caught.

pereira4

legendary

Activity: 1610

Merit: 1183

Quote from: pigzone on June 22, 2015, 11:19:27 AM

Gold, it has value and it's a physical thing, bitcoin is not that stable right now.

Who cares if it's a physical thing or not? It's not 1920 anymore. No one is going to care that a ton of 0's in a bank account that don't exist in the real world, aren't physical things. They are going to accept all that money like there's no tomorrow.

pigzone

newbie

Activity: 42

Merit: 0

Gold, it has value and it's a physical thing, bitcoin is not that stable right now.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: Valta Crypto on June 22, 2015, 10:27:23 AM

Quote from: GreenStox on June 22, 2015, 10:19:11 AM

Quote from: markj113 on June 22, 2015, 06:50:11 AM

Gold is supported by governments and rich individuals who like power and control.

Bitcoin at the moment in the big scheme of things is a small market cap minor distraction to these people. Should it start to grow to a point where the people above feel threatened or start to loose some power or control they will simply ban Bitcoin.

Some may say you cant ban bitcoin etc. but if the government do decide to ban it a large % of population will cease to use it preventing it becoming mainstream causing the price to crash.

Russia and China are buying gold as quick as they get their hands on it for a reason, the same cant be said for BTC

They cannot ban it anymore, i mean it has passed the "ban singularity" at this point the only thing they can do is to tax it or regulate it. Or atleast try doing those.

They cant ban it because more then 80.000 merchants use it, and we got a strong lobby community + politicians already ask "campaign donations" in bitcoin, so my impression is that they like Bitcoin, because anonymity is good for them too.

Anonymity? That's why there's cash. Bitcoin transactions are fully traceable.

yet it is not that easy as you think, to find the real owner of that particular address, also you need to do a very hard job, if the coin are well mixed, and you know that this isn't free for the government, if you elevate this to a greater order of magnitude(many people to track back)

then it could become really expensive to track them all

GreenStox

sr. member

Activity: 1148

Merit: 252

Undeads.com - P2E Runner Game

Quote from: Valta Crypto on June 22, 2015, 10:27:23 AM

Quote from: GreenStox on June 22, 2015, 10:19:11 AM

Quote from: markj113 on June 22, 2015, 06:50:11 AM

Gold is supported by governments and rich individuals who like power and control.

Bitcoin at the moment in the big scheme of things is a small market cap minor distraction to these people. Should it start to grow to a point where the people above feel threatened or start to loose some power or control they will simply ban Bitcoin.

Some may say you cant ban bitcoin etc. but if the government do decide to ban it a large % of population will cease to use it preventing it becoming mainstream causing the price to crash.

Russia and China are buying gold as quick as they get their hands on it for a reason, the same cant be said for BTC

They cannot ban it anymore, i mean it has passed the "ban singularity" at this point the only thing they can do is to tax it or regulate it. Or atleast try doing those.

They cant ban it because more then 80.000 merchants use it, and we got a strong lobby community + politicians already ask "campaign donations" in bitcoin, so my impression is that they like Bitcoin, because anonymity is good for them too.

Anonymity? That's why there's cash. Bitcoin transactions are fully traceable.

So does cash, but the barrier is much higher. There are already politicians that ask for "donations" for their campaign, if they get it from cash then all the info of the donor is traceable since the IBAN code of them links it to their private bank account.

But with bitcoin any person can "donate" to them and only leave a trace of how much bitcoin they received but certainly harder to trace it back.

I`m sure alot of politicians love this feature and would receive "donations" this way.

Valta Crypto

sr. member

Activity: 243

Merit: 250

Quote from: GreenStox on June 22, 2015, 10:19:11 AM

Quote from: markj113 on June 22, 2015, 06:50:11 AM

Gold is supported by governments and rich individuals who like power and control.

Bitcoin at the moment in the big scheme of things is a small market cap minor distraction to these people. Should it start to grow to a point where the people above feel threatened or start to loose some power or control they will simply ban Bitcoin.

Some may say you cant ban bitcoin etc. but if the government do decide to ban it a large % of population will cease to use it preventing it becoming mainstream causing the price to crash.

Russia and China are buying gold as quick as they get their hands on it for a reason, the same cant be said for BTC

They cannot ban it anymore, i mean it has passed the "ban singularity" at this point the only thing they can do is to tax it or regulate it. Or atleast try doing those.

They cant ban it because more then 80.000 merchants use it, and we got a strong lobby community + politicians already ask "campaign donations" in bitcoin, so my impression is that they like Bitcoin, because anonymity is good for them too.

Anonymity? That's why there's cash. Bitcoin transactions are fully traceable.

GreenStox

sr. member

Activity: 1148

Merit: 252

Undeads.com - P2E Runner Game

Quote from: markj113 on June 22, 2015, 06:50:11 AM

Gold is supported by governments and rich individuals who like power and control.

Bitcoin at the moment in the big scheme of things is a small market cap minor distraction to these people. Should it start to grow to a point where the people above feel threatened or start to loose some power or control they will simply ban Bitcoin.

Some may say you cant ban bitcoin etc. but if the government do decide to ban it a large % of population will cease to use it preventing it becoming mainstream causing the price to crash.

Russia and China are buying gold as quick as they get their hands on it for a reason, the same cant be said for BTC

They cannot ban it anymore, i mean it has passed the "ban singularity" at this point the only thing they can do is to tax it or regulate it. Or atleast try doing those.

They cant ban it because more then 80.000 merchants use it, and we got a strong lobby community + politicians already ask "campaign donations" in bitcoin, so my impression is that they like Bitcoin, because anonymity is good for them too.

markj113

legendary

Activity: 2254

Merit: 1043

Gold is supported by governments and rich individuals who like power and control.

Bitcoin at the moment in the big scheme of things is a small market cap minor distraction to these people. Should it start to grow to a point where the people above feel threatened or start to loose some power or control they will simply ban Bitcoin.

Some may say you cant ban bitcoin etc. but if the government do decide to ban it a large % of population will cease to use it preventing it becoming mainstream causing the price to crash.

Russia and China are buying gold as quick as they get their hands on it for a reason, the same cant be said for BTC

BTCevo

legendary

Activity: 1834

Merit: 1008

Quote from: dollarneed on June 21, 2015, 05:25:17 PM

Quote from: BTCevo on June 21, 2015, 01:23:14 PM

Quote from: RealBitcoin on June 21, 2015, 12:43:26 PM

I just surfed around Youtube and i stumbled across this great podcast of BITCOIN VS GOLD.
https://www.youtube.com/watch?v=E1VtZT5HEFs

I think its the best debate ever and clearly bitcoin won it.

The electricity argument was also refuted, we wont go back to stoneage so by default the trendy currency bitcoin will be

For now may be bitcoin will win against gold but for later on who will know? And bitcoin need a mass adoption to make bitcoin price stable besides gold is already in mass adoption so gold price is more stable that will make gold is good on long term investment

Iam not sure if bitcoin will win against gold,as we know gold is a long precious thing,from firaun's period till now gold is best,that was so long and gold still the best logam.

Actually if you said firaun's period of course gold is a great thing but nowadays technology is sophiticated and now is technology time. Every people need technology to survive so bitcoin still have a chance to get better than gold but I dont know how long it will take, but when it comes to best metal it will be gold forever. You can't compare technology to metal, it is two different things

dollarneed

hero member

Activity: 742

Merit: 500

Quote from: BTCevo on June 21, 2015, 01:23:14 PM

Quote from: RealBitcoin on June 21, 2015, 12:43:26 PM

I just surfed around Youtube and i stumbled across this great podcast of BITCOIN VS GOLD.
https://www.youtube.com/watch?v=E1VtZT5HEFs

I think its the best debate ever and clearly bitcoin won it.

The electricity argument was also refuted, we wont go back to stoneage so by default the trendy currency bitcoin will be

For now may be bitcoin will win against gold but for later on who will know? And bitcoin need a mass adoption to make bitcoin price stable besides gold is already in mass adoption so gold price is more stable that will make gold is good on long term investment

Iam not sure if bitcoin will win against gold,as we know gold is a long precious thing,from firaun's period till now gold is best,that was so long and gold still the best logam.

GreenStox

sr. member

Activity: 1148

Merit: 252

Undeads.com - P2E Runner Game

Quote from: BTCevo on June 21, 2015, 01:23:14 PM

Quote from: RealBitcoin on June 21, 2015, 12:43:26 PM

I just surfed around Youtube and i stumbled across this great podcast of BITCOIN VS GOLD.
https://www.youtube.com/watch?v=E1VtZT5HEFs

I think its the best debate ever and clearly bitcoin won it.

The electricity argument was also refuted, we wont go back to stoneage so by default the trendy currency bitcoin will be

For now may be bitcoin will win against gold but for later on who will know? And bitcoin need a mass adoption to make bitcoin price stable besides gold is already in mass adoption so gold price is more stable that will make gold is good on long term investment

Gold was long term investment, it's not anymore.

The next, long term investment is bitcoin. If you buy now, probably , you can retire by the time you hit retirement age. The power of deflation!

BTCevo

legendary

Activity: 1834

Merit: 1008

Quote from: RealBitcoin on June 21, 2015, 12:43:26 PM

I just surfed around Youtube and i stumbled across this great podcast of BITCOIN VS GOLD.
https://www.youtube.com/watch?v=E1VtZT5HEFs

I think its the best debate ever and clearly bitcoin won it.

The electricity argument was also refuted, we wont go back to stoneage so by default the trendy currency bitcoin will be

For now may be bitcoin will win against gold but for later on who will know? And bitcoin need a mass adoption to make bitcoin price stable besides gold is already in mass adoption so gold price is more stable that will make gold is good on long term investment

bryant.coleman

legendary

Activity: 3752

Merit: 1217

Quote from: Anirban Sarkar on June 21, 2015, 08:51:43 AM

Gold is for long term investment and bitcoin is good for short time investment

Do you have any reason to say so? Don't tell that Bitcoin is good for short term investment to those guys who purchased it at $1,200 per coin in December 2013. I agree with the first part of your argument that gold is for long term investment. But I want to know the reasons from you, when you said that BTC is not good for long term investment.

klf

legendary

Activity: 1344

Merit: 1000

Bitcoin is an improved version of gold. i would do 70% bitcoin, 30% gold or 30% silver

RealBitcoin

hero member

Activity: 854

Merit: 1009

JAYCE DESIGNS - http://bit.ly/1tmgIwK

I just surfed around Youtube and i stumbled across this great podcast of BITCOIN VS GOLD.
https://www.youtube.com/watch?v=E1VtZT5HEFs

I think its the best debate ever and clearly bitcoin won it.

The electricity argument was also refuted, we wont go back to stoneage so by default the trendy currency bitcoin will be

Topic: Bitcoin or gold? - page 544. (Read 984448 times)