Bitcoin or Gold? What would you pick? - page 63.

deisik

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Quote from: markj113 on May 04, 2016, 02:38:18 PM

My honest belief is that bitcoin is just the beta testing phase of government/banker controlled cryptocurrency, and when that currency is ready to be deployed it will be the death of bitcoin.

Unless this government/banker controlled cryptocurrency is decentralized (which sounds oxymoronic), such cryptocurrency would not be different from what we already have as a cashless (electronic) money right now...

It is a matter of who controls the money (read prints it), not its form

uname

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Quote from: ?? on ??

i think its better to go half and half gold and bitcoin

it would be nice if you have a large capital. but if you only have a small capital. I think you have to choose one of two investment, gold or bitcoin ?

diodio5

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Quote from: Altynbekova on May 03, 2016, 07:55:20 PM

I would pick the bitcoin because you can make nice profits with it and with the gold it takes so long in my opinion.
I myself do not have patience so that is why I choose for the bitcoin, although gold investing could be very profitable on a long term.

gold is quite safe because the motion is slow and has a great future as well as bitcoin because gold is beautiful jewelry to gold will always live so it will be safe. but probably will not profitbale in short time.
bitcoin very profitable in the short time but allow you to lose?

STT

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Bitcoin cant be banned completely but its main problem is it relies on the mutual exchange so really its about fast velocity currency. They couldnt stop it but value would surely decline if transactions were slowed down alot. Gold is always in demand as jewelry and isnt high velocity at all, its quite alot more hassle to process but usually worth the trouble and it doesnt matter if you hold it for decades

Gold isnt unlimited, its made in a supernova which is not present on earth. They could get more dissolved in the earths core but we dont mine that deep and it would be very expensive so its just coming from volcanic activity I guess. Gold is all over the earth but its never concentrated especially to make it easy, so thats why it never gets cheap. The work required is fairly massive, gold is linked long term to oil prices due to energy costs in production
If we ever saw a way to get pure blocks of gold then markets will alter but normal mining is fine and may even lag population growth and certainly as OG mentioned it lags currency production which leads invariably to massive price growth (if not value)

markj113

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The big problem is that the top 1% and those with power hold gold not bitcoin. China/Russia are grabbing gold by the tonne not hording satoshis.

If bitcoin were to gain anywhere near mainstream adoption and seen as a threat it will be either regulated to death (through exchanges etc.) or just banned completely with stiff penalties if caught.

My honest belief is that bitcoin is just the beta testing phase of government/banker controlled cryptocurrency, and when that currency is ready to be deployed it will be the death of bitcoin.

Money = power and those that control it are not just going to hand it over to a decentralised currency they dont control.

Also Gold is seen as the ultimate form of wealth,

Why is bitcoin always visualised as a gold coin?
Why all the "bitcoin or gold" threads, why not "bitcoin or copper/corn/ or any other commodity

The beauty of gold is zero third party risk. No banks, networks, blockchain, miners, power, computer systems required. You hold it and you own it, fire proof, water proof, emp proof. bury it for 50 years then dig it back up and it will still look exactly the same.

OgNasty

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Quote from: markj113 on May 04, 2016, 12:40:26 PM

Quote from: streazight on May 04, 2016, 12:11:35 PM

Also note Only limited number of bitcoins can be mined (21million approx.)
Gold is un limited and better choice Shocked

There is no shortage of bitcoin as its just a number and infinitely divisible.

Gold is not unlimited hence why it has held value for thousands of years.

Gold was divisible last time I checked. Also, Bitcoin only has 21,000,000.00000000 units available.

There is 24 grams of gold available for each person on the planet.

There is 0.003 BTC available for each person on the planet.

At current values, that is $1,000 worth of gold for each person on the planet, while there is only $1.33 worth of Bitcoin available for each person on the planet.

If Bitcoin were as valuable as gold using these measures, a single Bitcoin would be worth $250,000.

While I don't believe we will see Bitcoin reach that value, I do believe that for a majority of those 7 billion people, Bitcoin represents a much more useful commodity. As such, I expect those numbers to converge a bit over the coming years while both continuing to rise due to the further erosion of fiat currencies.

gerXhonza

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Gold is stable since a long time and it will be stable in future too, so if you don't want to experiment with your investments then you should invest in gold.

markj113

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Quote from: streazight on May 04, 2016, 12:11:35 PM

Also note Only limited number of bitcoins can be mined (21million approx.)
Gold is un limited and better choice Shocked

There is no shortage of bitcoin as its just a number and infinitely divisible.

Gold is not unlimited hence why it has held value for thousands of years.

streazight

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Quote from: ravens on May 04, 2016, 11:35:04 AM

I'd walk away with btc, since there is no chance of counterfeiting.

Also note Only limited number of bitcoins can be mined (21million approx.)
Gold is un limited and better choice Shocked

SquallLeonhart

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I will love to invest in bitcoin as price is good for making some new investments and can earn good money by selling at the time of halving.

ravens

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I'd walk away with btc, since there is no chance of counterfeiting.

markj113

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Quote from: kahir on May 04, 2016, 10:36:04 AM

As a store of value The total number of bitcoins that can be mined has been preset at 21 million, whereas the amount of gold that can be mined is a more complicated question. Over time, the increase in the supply of gold has increased at roughly 1-3% per year, but on a short-term basis there can conceivably be a lot of volatility in the price of gold due to new discoveries. Of course, as a new technology, bitcoin is subject to much more volatility than gold. But over the long run, given the fact that no new bitcoins will be mined after the 21-millionth, we can expect it to ultimately serve as a better store of value than gold.

There is no shortage of bitcoin as its just a number and infinitely divisible.

Also as its just software the hard limit of 21 million coins could be changed with a few lines of code which would beyond your control. People say this will never happen but never underestimate human greed, especially when the big miners start applying some pressure or bribing the right people.

kahir

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As a store of value The total number of bitcoins that can be mined has been preset at 21 million, whereas the amount of gold that can be mined is a more complicated question. Over time, the increase in the supply of gold has increased at roughly 1-3% per year, but on a short-term basis there can conceivably be a lot of volatility in the price of gold due to new discoveries. Of course, as a new technology, bitcoin is subject to much more volatility than gold. But over the long run, given the fact that no new bitcoins will be mined after the 21-millionth, we can expect it to ultimately serve as a better store of value than gold.

Adrayrd

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Would you pick bitcoin over gold? I don't because gold will always be number one
in my opinion. No one will pay everything later with bitcoins maybe many more things
but not there house rent or something. That's why i prefer gold instead of bitcoin.

betohell

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Quote from: Mumbeeptind1963 on May 02, 2016, 11:36:18 PM

Quote from: quintiilieo on May 02, 2016, 07:51:39 AM

I choose bitcoin because we can earn here, we can start a business here without business permit and hassle. We can mine here without digging the ground, without risking our life. We need only internet connection and we need pc so that we can earn Bitcoin. And there are many ways to earn bitcoin trading, mining, investing, gambling and by joining Signature Campaign.

I choose bitcoin too. We can start a business here without big funds, without more effort to do. Just trade or mine so that you can earn daily. But i want bitcoin because this is only my hope to become a rich man someday. If il do that il share in many youth in our country that bitcoin can give hope.

to make a business of course you need a big capital. What do you mean business in bitcoin? at least all businesses need capital,
was also with gold

Altcoinsupporter

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Quote from: Mumbeeptind1963 on May 02, 2016, 11:36:18 PM

Quote from: quintiilieo on May 02, 2016, 07:51:39 AM

I choose bitcoin because we can earn here, we can start a business here without business permit and hassle. We can mine here without digging the ground, without risking our life. We need only internet connection and we need pc so that we can earn Bitcoin. And there are many ways to earn bitcoin trading, mining, investing, gambling and by joining Signature Campaign.

I choose bitcoin too. We can start a business here without big funds, without more effort to do. Just trade or mine so that you can earn daily. But i want bitcoin because this is only my hope to become a rich man someday. If il do that il share in many youth in our country that bitcoin can give hope.

Bitcoin is going to be the future as you can see now you see that Bitcoin is getting more used and that is perfect for the currency because it will be more used.
And Gold will be useful only around this time and later in the future it it wont be possible because it will be more digital and that is not possible for gold.

terman45x

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Quote from: Altynbekova on May 03, 2016, 07:55:20 PM

I would pick the bitcoin because you can make nice profits with it and with the gold it takes so long in my opinion.
I myself do not have patience so that is why I choose for the bitcoin, although gold investing could be very profitable on a long term.

If you have patience and if you want to play safe then you can go with gold, but a smart person who is looking for smart investment will always prefer to invest in bitcoin.

TPTB_need_war

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Quote from: r0ach on May 03, 2016, 09:51:34 PM

Yea, gold is guaranteed to not be fiat, but where do you draw your claim from that it's guaranteed to continue to be a form of money at all? This is an unknown. Maybe gold is wothless in the future except for jewlery and anti-corrosive plating and only Bitcoin and a Helium3 backed dollar or something exists. Then gold loses it's entire network effect derived value and becomes the same thing as current day copper.

Quote

Napoleon III reserved a prized set of aluminum cutlery for special guests at banquets. (Less favored guests used gold knives and forks.)

Well I agree that man has gradually changed what is money to what has superior attributes such as durability, divisibility, transportability. But remember (pure not legal tender) gold's main function has always a hedge against government. Thus my argument is that until crypto-currency can prove it is immune to centralization and centralized control over the internet, then it can't replace gold's function. That is entirely my point.

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Both are good options.

Altynbekova

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I would pick the bitcoin because you can make nice profits with it and with the gold it takes so long in my opinion.
I myself do not have patience so that is why I choose for the bitcoin, although gold investing could be very profitable on a long term.

Topic: Bitcoin or Gold? What would you pick? - page 63. (Read 299004 times)