Topic: Bitcoin or Gold? What would you pick? - page 157. (Read 299008 times)

Hands down bitcoin. 1 BTC will be worth more than 1 ounce of gold soon 

In this moment bitcoin obvuosly
but it depends on its use
bitcoin to pay is great(at least when it is more accepted)
gold is not easy to pay at all

The floor of both bitcoin and gold will be their 'intrinsic' value (or use value). But that does not determine the ceiling. That is determined by how much people are willing to pay for it.

While it may not be accurate to say that gold has "absolute" value, it clearly does have "use" value. By that I mean it can be made it into jewelry, used in dental work, gold plating has a variety of uses, including electronics.

By comparison, Bitcoin has zero use value.

Good network verification.   

Gold is going nowhere whereas BTC has a higher margin of improvement over the years.

Yes, it might well be, but this would just prove that gold would be highly valued there, right? In short, the more backward the place would be, the higher value gold would enjoy there...

Small portion of your asset should be in physical gold to insure against total collapse.

In these parts, asking people on the street if someone will accept gold  might... risky.

In those parts of the world where you have no internet access, you should be bringing cash with you. Most major cities of a lot of countries do have electricity and internet access, or at least their airports do.

Bringing gold bars to those parts of the world is very risky.

Merchants that accept credit cards also need some form of network access, gone are the days when they literally swipe or stamp over your embossed credit card.

I still pick bitcoin. All other places, be sure to cash out first or convert to the local fiat currency.

Now, if some early adopter merchant accepts bitcoin directly, that would be great. If not, here's my cash.

If only the many people who have seen their wallets emptied by malware agreed with you. 

I would take golden bitcoins..You can't lose on that
But if I've had to choose,I would take bitcoins..Anyone can easily steal your golden bar you're holding,but they can't steal coins from your encrypted wallet that easy

Not necessarily so. As I got it, you refer here to the awe and vibes people feel toward gold, but this has changed significantly over the last hundred years. Now, for the majority of people, it has become just a shiny piece of metal and lost the great part of its former grandeur and splendor... 

i would pick Bitcoin of course
because it's simple, we don't have to carry the gold, then we have to sold it before we can buy something
but with bitcoin, we can just show the barcode and it's done.

In respect to value, Bitcoin and gold are on equal terms here (there is no such thing as an "absolute value", at least in economics), and both derive its value from its utility (usefulness) to people. It just happens that the utility of gold is by far more universal (that is gold is valued by many more people) and has been tried in centuries...

Hmm... Bitcoin was born 5 years ago, and has had some ups, and downs... Bitcoin itself does not have a value unless the world accepts it as one. However, Gold has an absolute value, as there is only a certain quantity of it in our planet. You can't substitute gold, but you can definitely substitute Bitcoin for something else...

I would say go with GOLD over BTC

it's true, but in the future all will have internet.
for me, if I have a lot of money to invest,
I choose gold, it is legal in all countries, prices are more stable, and it's real  

Good graph and I agree with the premise that gold price was just as high in the past and fell.  Money used to be worth alot more before we produced so much more of it then the countrys gdp has risen

But the collapse side of the graph might give a false perspective if conclusions are merely drawn from the eighties.  Its reasonable to consider that but for starters, its a short term frame to look at gold this way.  That is only 30 years ago and span of gold is more like centuries so we should really try and reference a price for gold going back much more then a few federal reserve chairmans.

The big point I'd like to make and is most relevant to buying or holding gold and its advance decline and prospect now is that in the eighties we had a very extreme change in interest rates and that also matches the graph.  
Again now we have extremes in the interest rate, its never been here before and we are making history just sitting here while it all ticks over.  Doesnt seem that exciting I guess but we are living in unique times.
   The reason gold is not likely to fall now like the 1980's is the rates cannot inversely mirror the extremes, so we cannot have Volcker raising rates to 20%.    If we even go to 5% it will unleash an avalanche of built up pressure thanks to the volume of debt produced in recent years.
This is the key, gold by itself is not productive but its not supposed to be.  Its a brake, its a buffer, its a counter to other elements and to consider this question properly is to look at the full myriad of effects that fills out golds value.  

But in some parts of the world there may be no Internet access at all, so your bitcoins become useless...

I still pick bitcoin. I'm going to be traveling to different areas of the world, and bitcoin is a lot easier to conceal and bring with me (virtually) compared to gold, and there always seems to be an exchange or some local person to trade with.