Topic: Bitcoin vs. Gold (Read 450 times)

I think,Bitcoin compared with gold, not long enough, not after the baptism of time, so not enough gold stability.

Why wouldn't you compare bitcoin with gold? People use bitcoin as a store of value and people use gold as a store of value. So someone in that situation needs to make a decision. If you don't feel they are appropriate uses, then what should someone use as their store of value?

False. Actually, I guess this could be true... I used to trade gold and forex, but I do not any longer. So my decision between gold and bitcoin percentage? 0% investments in gold and 100% into Bitcoin.

But seriously, it doesn't state anywhere that you have to only use gold or bitcoin as a store of value. I think you're putting too much unnecessary focus on only choosing between bitcoin or gold. Why so serious? 

Because people have to make decisions what % to invest in gold and what % to invest in bitcoin.

Why compare bitcoin and gold? Let's leave it as it is. Let there be also bitcoin and it will be valuable in the new world, so also let gold remain that is valuable in the new and old world)

Gold, doesn't seem to do much for most of the time, but thats good, it brings safety and security to balance out the high risk of Bitcoin. But heres the thing... as Bitcoin rises is popularity, peoples trust in banks will fall, this will drive up the price of gold massively over the next few years.

I wouldn't compare Bitcoin with Gold, but people insist on doing that (even calling Bitcoin the "Digital Gold" which in my personal opinion is not. However Bitcoin still has a lot of inherent value for diversification purposes.

As I have written many times, both bitcoin and gold are a store of value and scarce. Gold has the advantage of having a much longer history and lately has been less volatile. While revolutionary, bitcoin has plenty of maturing to do as an investment.

GOLD is well established you don't HOLD it you don't own it, ... BTC is same, you don't hold the private-key, you don't own it,

Problem with BTC is also that if somebody else can 'guess' your private key, then now it has a new owner, and there is not SHIT U can do about it, ...

With GOLD, U can hide it on MTN ( or out in desert with GPS), where no authority could/would ever guess you could/would hide it, with BTC, all it takes a serious party to target your account and its GONE

I have heard arguments that bitcoin can function as a store of value only (eg, if it does not work out as a currency), but I am not seeing it. I am going to present a few arguments for both sides below. Please give your arguments and rationale, but also just for bitcoin vs. gold in general.

This is a self-moderated topic to prevent low quality posts.

Bitcoin
- limited supply (capped at 21,000,000). While gold also has a limited supply, the amount of extant gold is not known and the amount that will be mined per year is not known, so bitcoin has more transparency
- minimal storage cost compared to gold

Gold
- has been coveted for thousands of years.
- limited supply
- has some use (fashion, industrial)

Some people say that bitcoin is more divisible and transferrable than gold and hence advantageous, but this will easily be solved with blockchain technology - tokens can represent ownership of gold in a vault, and thus becomes secure, divisible, transferrable.

Price appreciation is not a reason for bitcoin to be a store of value, because as a store of value people are looking to preserve what they have, not make profits. And it is a backwards argument anyway, because if people are buying it because it is a store of value, then that is going to drive up the price and cannot be a reason to buy it in advance.

Given all the above, right now I do not see why anyone would want bitcoin as a store of value when gold is available and has a longer history. The only advantage bitcoin has is storage cost, which I imagine does not add significantly to the cost of gold, especially when one considers some of the other utility of gold.

Why does it have to be one or the other?

In my mind they compliment each other perfectly, Bitcoin is giving us unprecedented growth and potential income that is well suited for the long term future, but is high risk.

Gold, doesn't seem to do much for most of the time, but thats good, it brings safety and security to balance out the high risk of Bitcoin. But heres the thing... as Bitcoin rises is popularity, peoples trust in banks will fall, this will drive up the price of gold massively over the next few years.

So whenever I take any profits from my crypto, I take it in gold rather than FIAT.

How can you even steal if there is 2fa?
I am sure there is pretty good protection to have 2fa on every account that related to your bitcoin thing. And it much more safer if you have your own private key to hold your bitcoin

I think there is easy way to safe gold or even to have interest on gold so there is no way that it can't be retrieved. But if you compare to bitcoin of course it is much more easy to have bitcoin. But high risk, high gain so if you want to have stable investment you should take gold instead of bitcoin. Many people take this risk to get some profit so please do not judge them