Topic: Bitcoin or Gold? What would you pick? - page 88. (Read 299004 times)

Bitcoin and gold are both good in my opinion. But if you were to ask me to pick only one, I'd have to say Bitcoin.

Until now, all crypto coins have been marketed to investors.


Bitcoin the better gold.

Word.

Hopefully r0ach and others can offer their laymen's summaries.

What you need to know is that Ethereum as it is currently designed can't scale just as Bitcoin can't scale, but the level of scaling which the current Ethereum can do is much less than even Bitcoin's current limitation because verification/validation of Serpent scripts takes more resources than verification/validation of ECDSA signatures.

For both Bitcoin and Ethereum, this is not just an issue of block size limitation. The issue is that in order to scale, the mining becomes more centralized. I think you will should note that Bitcoin and all other major coins are entirely centralized already and on the precipice of failure (all of them! study my links!).

Thus Ethereum proposed Casper which is a design that attempts to use sharding (a.k.a. partitions) to improve scaling decentralized. But I explained in this thread, that can't work. To reduce electricity consumption, Ethereum also proposed PoS-like consensus-by-betting with forfeitable deposits. PoS has known failure modes that violate Nash equilibrium.

So the point of all this is that Ethereum and all the rest of the crypto coins have not yet solved the fundamental issue of decentralized consensus.

If you want to read a theoretical discussion of why, I did that too.

Okay that is enough from me. Adios.

I do not believe they will confiscate gold for there is no intention to return to a gold standard as Roosevelt did in 1934. He confiscated the gold FIRST to profit from the dollar devaluation in 1934. He also wanted to end people hoarding cash outside the banks, which is the same problem we have today which they are addressing with moving electronic and cancelling high denominations. However, what they will do is confiscate gold if you tried to leave the country with it or you travel with it domestically using the Civil Asset Forfeiture laws. That would be the same as if it were cash.

It does appear that old pre-1965 silver coins may be best for small commerce. However, keep in mind that the government may declare any transaction in gold or silver to be illegal and they then get to confiscate all assets involved. They can easily just pass a law and declare anyone dealing in some off-currency exchange to be “money laundering” to hide from taxes. These people will do whatever they can to retain power.

Also keep in mind that as they become more and more desperate for money, all legal forms used today will vanish at the order of any judge.

[...]

So will they confiscate gold? I doubt in a wholesale basis, however, they have shut this down as far as gold being portable. You cannot jump on a plane with a suitcase full of gold as you once could decades ago. So just be prepared, they can make it illegal to conduct a transaction in it.

Governments everywhere are going broke. Despite what people think, gold may yet make new record lows under $1,000 in the months ahead. Canada has sold off the majority of its gold reserve into this rally, leaving less than a ton remaining. There is NO intention of returning to a gold standard. They are moving fully electronic and intend to eliminate cash everywhere. In so doing, the “official” view behind the curtain is that they no longer need gold.

[...]

I have been warning that gold is not really the cornerstone of government nor is it interesting to big money in the context of physical possession. It is a hedge against government for the average person. Governments are turning away from gold, and as they cross that line and head into the sovereign debt crisis, they will sell everything and hunt every person to grab as much wealth as they can to keep their jobs. That is what we are dealing with.

Gold because has less volatility then BTC


BTC second best choice

No dude you are totally wrong because bitcoin is better than gold in totally point , If we are investing money with bitcoin at a moment, If we have some emergency then we can any time or any where withdraw money so I always pick bitcoin. And I love bitcoin.  

I would pick gold because you can always get money for gold.
If you invest in the bitcoin is good for the future but if it will collapse in a long term you will lose a lot of money, with gold this is not the point.

If you are going to live 5000 years - yes, you will benefit from gold

If you want to see gain (or dramatic loss) - BTCs are your choice

Gold is up 17% this year already.  I think the 5000 years is not needed.

If you are going to live 5000 years - yes, you will benefit from gold

If you want to see gain (or dramatic loss) - BTCs are your choice