Bitcoin Vs Gold, land which better? - page 8.

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Quote from: SquirrelJulietGarden on October 15, 2023, 08:03:13 AM

Quote from: Reatim on October 15, 2023, 07:55:40 AM

Yet mate? As bitcoin user and investors, we tend to still believe in capacity of bitcoin comparing yo GOLD?

Did you read my post that says Bitcoin is better than gold?

The chart and the quoted part is about market caps of Bitcoin and gold. I did not say anything wrong that Bitcoin still has a long way to reach Gold market cap. Having a lower market cap does not mean Bitcoin is worse than gold as Bitcoin is decentralized and verifiable with its network and public ledger.

One that has been around and recognized for thousands of years and one that has only been around for 14 years and is still limited in popularity. So is that comparison fair for bitcoin? Furthermore, low capitalization does not mean that it is inferior to gold, but also shows the great potential of bitcoin and we should not ignore that. But its low capitalization also means it will have greater risk than gold.

There is no benefit in comparing the two, if you are willing to take risks for high returns then choose bitcoin. If you have become too rich and you need a safe and low-volatility asset, gold is the choice.

SquirrelJulietGarden

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Quote from: Reatim on October 15, 2023, 07:55:40 AM

Yet mate? As bitcoin user and investors, we tend to still believe in capacity of bitcoin comparing yo GOLD?

Did you read my post that says Bitcoin is better than gold?

The chart and the quoted part is about market caps of Bitcoin and gold. I did not say anything wrong that Bitcoin still has a long way to reach Gold market cap. Having a lower market cap does not mean Bitcoin is worse than gold as Bitcoin is decentralized and verifiable with its network and public ledger.

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Quote from: HelliumZ on October 14, 2023, 06:20:22 PM

My parents thought that bitcoins that cannot be seen or touched cannot be an asset. They think that investing in physical assets such as gold, bank deposits, land etc. is more profitable than Bitcoin. But even after I convinced them, they are not ready to invest in Bitcoin. They don't want to believe in virtual currency.

Right now I want your important advice on how to convince them.

Your question is good, and I can relate to it because there are millions of Bangladeshi lives in Malaysia and other countries and they work there. Most of them send money to their family, and most of them invest in buying land and keep their savings in the bank. Some of them buy gold as well. I can give you some suggestions but it's up to you.

Look, the money is not yours even though you are the one who manages it. Your father earned it and let him decide where to invest. You have a good idea, and tell him about it. Do not invest large amounts in Bitcoin. if you have $10K to invest in something, go for other investments like gold, land and invest a small portion in Bitcoin too. If you have $10K, Do not invest more than $1K in Bitcoin. More precisely, do not invest that much money that you cannot afford to lose.

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Quote from: HelliumZ on October 14, 2023, 06:20:22 PM

I got into Bitcoin as a college student though I am not involved in earning yet but I have a lot of interest in Bitcoin and I am planning to hold Bitcoin. My father is a Malaysian expatriate. He receives a salary of $500 per month and sends $400 per month to support my family. I collect all the money from my father's salary and spend it for family support. Recently I have made a plan to invest a certain part of my father's salary remittance in Bitcoin but in this case I don't understand whether it should be invested in Bitcoin. I paid attention to invest in bitcoin seeing the popularity and future importance of bitcoin but my father and mother from my family have no knowledge of bitcoin so they keep persuading me to invest in bitcoin.

My parents thought that bitcoins that cannot be seen or touched cannot be an asset. They think that investing in physical assets such as gold, bank deposits, land etc. is more profitable than Bitcoin. But even after I convinced them, they are not ready to invest in Bitcoin. They don't want to believe in virtual currency.

Right now I want your important advice on how to convince them.

While you have a good intentions and a good plan yet yourself is not completely believe in Bitcoin investment as you still has a doubt, so how could you encourage your parents and family if you aren't completely believe un your options?

Secondly, it is not your money so let them decide.
Study well and in time that you are already earnings, then invest it in Bitcoin
But as long as you are only planning for the money that you don't even own, better step back and find your way to earn.

Quote from: SquirrelJulietGarden on October 15, 2023, 07:50:26 AM

Bitcoin still has a long way to reach gold market cap.

Yet mate? As bitcoin user and investors, we tend to still believe in capacity of bitcoin comparing yo GOLD?

Ricardo11

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Explain them all about Bitcoin. Talk about the benefits of long-term investment in Bitcoin, do not hide anything from them, also talk about the risks of investing in Bitcoin. You are investing with their money, so they have a right to know everything. They certainly don't want to invest their hard-earned money somewhere they don't know anything about. So tell them all about Bitcoin and both the benefits and risks of Bitcoin. If they agree to this then you invest in bitcoins and do nothing against them.

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Gold transactions can not be verified because gold does not have a public ledger like Bitcoin. With a Bitcoin public ledger, all transactions can be traced even the genesis block. With gold transactions, you have to rely on central banks, commercial banks, gold trading exchanges, gold vault reports to know only tip of iceberg transaction proofs. You can not get all gold transaction history because it is first, not public, and second, not verifiable with a blockchain.

Bitcoin still has a long way to reach gold market cap.

khiholangkang

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Quote from: GreatArkansas on October 14, 2023, 07:36:18 PM

All of them are good, but each has pros and cons. Bitcoin for now is extremely volatile compared to gold and land.
The land is also difficult if you have little capital to buy, and the hassle of getting proper documents to be able to own land under your name is difficult.
Bitcoin is still new so we still don't know what will happen in the coming years in Bitcoin especially since some governments are against it.
Gold if you own it physically, you will have a hard time storing it physically but there are already a lot of ways to own gold online now.

The three Investment Instruments mentioned by the OP are indeed good, but they each have advantages and disadvantages, we agree about them.
With that amount of money, I think it will be difficult to fulfill investment instruments such as land and deposits, because it requires large capital to do so.
I think the problem of many governments still prohibiting it is not a problem, what is important is that the country can still trade it, or that citizens have the right to own bitcoin.

For me, investing in gold is more aimed at maintaining the value of money from inflation.

To see the best side of some of these investment instruments is subjective and depends on the person's knowledge of the place of investment because it will help him get a profit from the investment he makes.

OP, I don't expect you to use all the money your parents give you to invest, you have to invest in yourself first, such as increasing your knowledge and ability to make your own money, but if you choose to use your pocket money to invest then use it wisely. financial management wisely, for that little money I think it's better for you to collect bitcoins.

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Quote from: HelliumZ on October 14, 2023, 06:20:22 PM

I got into Bitcoin as a college student though I am not involved in earning yet but I have a lot of interest in Bitcoin and I am planning to hold Bitcoin. My father is a Malaysian expatriate. He receives a salary of $500 per month and sends $400 per month to support my family. I collect all the money from my father's salary and spend it for family support. Recently I have made a plan to invest a certain part of my father's salary remittance in Bitcoin but in this case I don't understand whether it should be invested in Bitcoin. I paid attention to invest in bitcoin seeing the popularity and future importance of bitcoin but my father and mother from my family have no knowledge of bitcoin so they keep persuading me to invest in bitcoin.

My parents thought that bitcoins that cannot be seen or touched cannot be an asset. They think that investing in physical assets such as gold, bank deposits, land etc. is more profitable than Bitcoin. But even after I convinced them, they are not ready to invest in Bitcoin. They don't want to believe in virtual currency.

Right now I want your important advice on how to convince them.

Either way, if you can accumulate Bitcoins and hold them for a long period of time, it will definitely turn into a great asset. If you get $400 per month from your father's money and keep some of that money in bitcoins, you will get many times your savings in the long run. An advantage here is that if your father works abroad and if he ‍stay 10 years then if you can hold bitcoins for 10 years slowly accumulating a certain amount every month you can surely get all the money your father gave you by a small investment. If someone in your family doesn't know about Bitcoin, they won't understand it. I think you have made the right decision and you can start investing in Bitcoin this way.

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Quote from: Ayers on October 15, 2023, 03:37:34 AM

The higher the return, the higher the risk, bitcoin is very volatile so I wouldn't consider it a stable investment.

We gotta go with Bitcoin from the three options because it's the one that can potentially give us massive profits if we hold onto it for long enough. Gold and land are solid investments too, but if we're not rolling in money already, our initial capital might not be that hefty. We're looking for something that could yield a significant return.

I'm pretty sure we got this idea from those inspiring stories of investors, you know, buying Bitcoin on the cheap and then selling it for a sweet profit in a short time.

Just check out the market's track record. Last September 2020, Bitcoin was only about $5k a pop. In just over a year, the price shot up tenfold, reaching over $50k. That's a simple x10 return on investment right there.

So, considering this reality, Bitcoin seems like the no-brainer choice.

Nrcewker

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Tell them Bitcoins are like gold but in Digital form only. To be more precise tell them Bitcoins are like digital gold. The investment procedure is same as of Digital gold. But why you should invest in Bitcoins is due to the decentralised nature of the coin. You will completely own the Bitcoins under you, and you don’t have to pay unnecessary taxes for the holdings. Moreover Bitcoins have grown at very high rate if you compare with gold. So definitely Bitcoins should be prioritised more than Gold when it comes about investments.

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Quote from: HelliumZ on October 14, 2023, 06:20:22 PM

They think that investing in physical assets such as gold, bank deposits, land etc. is more profitable than Bitcoin. But even after I convinced them, they are not ready to invest in Bitcoin. They don't want to believe in virtual currency.

Right now I want your important advice on how to convince them.

You said you know about bitcoin but you haven't invested in it yet, which means you don't know anything about it If you want to introduce bitcoin to your parents, you need to invest in it for the long term so you can get evidence to show them and convince them to invest in bitcoin when you make profit. It's better if you use your money to invest in bitcoin rather than your parents money because you are big enough to take care of yourself,If you invest and make a huge profit and show your parents, I am confident that he will believe in virtual currency. Bitcoin investment is the best investment that you will do and get massive returns if you leave it for 2 to 3 years. Gold investment requires a large sum of money to begin, and you cannot buy land with a small sum of money. Bitcoin investment, on the other hand, can begin with a small sum of money and make a profit, in my opinioni prefer Bitcoin investments then Gold.

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Quote from: Kasabus on October 14, 2023, 11:56:25 PM

Everything that is mentioned is a good investment as they are bound to increase in value in the long run.

Land is part of the real estate business, which is one of the major businesses of the wealthy in our country. So, I would say it's proven to be a good investment. However, always consider your current financial status. If you don't have a lot of money to invest in land, it may not be useful because investing in land doesn't generate profits right away; it's usually aimed at long-term investment.

On the other hand, gold and Bitcoin, these two are known as digital gold and physical gold, so I guess I will stick with the digital gold, which is Bitcoin. Since its inception, it has already surged to the current price, making many investors rich.

The world of investing revolves around risk and reward, so finding trustworthy sources is crucial, isnt it? In fact, land is frequently hailed as a stronghold of stability over the long run in relation to real estate. Digital investments might not offer that sturdy, hard materiality, but it does. However, the issue of liquidity cannot be disregarded, can it? While returns on investments in land are largely guaranteed, they are sluggish to materialise and drip-feed over time.

In contrast, the enormous digital entity known as Bitcoin represents a different strategy. Yes, its history shows a great value trajectory. But it is crucial to cut through the cloak of previous triumphs and carefully consider any future directions it might go. Although Bitcoin has a long history, there are still many unknowns and potential divergences in the future that any wise investor should negotiate with a balance of hope and caution.

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Quote from: Negotiation on October 15, 2023, 02:33:10 AM

It is true that gold is not easily broken but bitcoin can be easily broken and spent from one place to another hence bitcoin can be a very stable investment option. For those who want to walk the path of long term and permanent investment bitcoin can be one of the places of trust. Even during market downturns when the price of everything is falling, the price of bitcoin continues to rise. Except for the extreme situation its price does not fall much but if it goes up it doubles so bitcoin is a very reliable and trustworthy place of investment. It is also popular all over the world and its demand is increasing day by day.

I'm also a bitcoin investor, but I like to give fair reviews rather than just flattering bitcoin. I disagree when you say that the value of all assets is falling while the economy is in recession and bitcoin prices are rising. If you compare the ATH to the current price, bitcoin is still down more than 50% in value, I don't think it is growing better than other assets. Furthermore, if you observe the gold price in recent days since the war between Israel and Hamas broke out, the gold price has increased significantly.

The higher the return, the higher the risk, bitcoin is very volatile so I wouldn't consider it a stable investment.

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You can share some success stories of people who have made a lot of money by investing in Bitcoin. This may help your parents see the potential of Bitcoin as an investment.

It's important to remember that you can't force your parents to invest in Bitcoin. Ultimately, it's up to them to decide whether or not they want to invest. But by educating them about Bitcoin and the potential benefits, you can help them make an informed decision.

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So anyway, I applied as a merit source :)

Well firstly the OP title and the thread opening post imply a different context. Roll Eyes

Quote from: HelliumZ on October 14, 2023, 06:20:22 PM

Right now I want your important advice on how to convince them.

I know this might sound rude, but it is not your job to convince them or as a matter of fact, any no-coiner to invest in bitcoin. It is their choice and although you have vested interest here being your family, you should be careful about this.

A person who has spent their time away from technology and recent advances and wants to lead a quiet happy retirement cannot be made to get into crypto against their will, they will face a lot of mental and physical stress that they may not be able to endure, you are young and you have no idea what your parents might go through.

My suggestion here would be to start a saving from what you can manage every month and gradually start buying bitcoin from that every month or so whenever the price drops. As your stash increases introduce your parents to it and show how the coins can be used.

New things need to be introduced slowly and not forcefully. Forcefeed someone and they will never accept it.

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It is true that gold is not easily broken but bitcoin can be easily broken and spent from one place to another hence bitcoin can be a very stable investment option. For those who want to walk the path of long term and permanent investment bitcoin can be one of the places of trust. Even during market downturns when the price of everything is falling, the price of bitcoin continues to rise. Except for the extreme situation its price does not fall much but if it goes up it doubles so bitcoin is a very reliable and trustworthy place of investment. It is also popular all over the world and its demand is increasing day by day.

adaseb

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This was discussed many many times in the past. You can pretty much google “gold vs Bitcoin” and you will see the similarities and differences.

The largest in my opinion is that gold is not that easy to spend or transport. Let’s say you want to buy $100 worth of goods but you own only a 1 oz bar for $1800 currently. You can’t cut the gold in pieces easily.

It’s also difficult to transport if you want to go to a different country. Carrying in thru customs would be risky and might get confiscated.

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Everything that is mentioned is a good investment as they are bound to increase in value in the long run.

Land is part of the real estate business, which is one of the major businesses of the wealthy in our country. So, I would say it's proven to be a good investment. However, always consider your current financial status. If you don't have a lot of money to invest in land, it may not be useful because investing in land doesn't generate profits right away; it's usually aimed at long-term investment.

On the other hand, gold and Bitcoin, these two are known as digital gold and physical gold, so I guess I will stick with the digital gold, which is Bitcoin. Since its inception, it has already surged to the current price, making many investors rich.

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Quote from: Russlenat on October 14, 2023, 10:08:35 PM

All of these options are good investments, but given that you're asking this question in a Bitcointalk forum, the biased answer you're likely to get is "bitcoin." Bitcoin is portable (seed) and can be carried anywhere, while physical gold is less flexible in that regard. However, if you're considering digital gold, it's also a sound investment. It's worth noting that gold has already reached its peak, whereas bitcoin is still on the rise. The significant demand for bitcoin is likely to push its price to new heights, making it the choice for potentially massive profits.

Nevertheless, it's essential to consider that bitcoin falls into the high-risk category of investments. Its price is highly volatile, so there are no guarantees. If you prefer a safer investment, gold is the more established option.

There is no need to be biased here, and if we answer frankly, it is clear that bitcoin as an investment will give better returns than gold but will have higher risk than gold. The higher the profit, the higher the risk, that is an immutable rule of investment that everyone knows.

Our parents belong to the older generation and they like to be safe so there is nothing wrong with them choosing bitcoin. Meanwhile, OP and we both belong to the younger generation, so choosing bitcoin is completely reasonable. But the blame in OP's story is that he is convincing others to invest in bitcoin, not his money. As some people have pointed out, why doesn't he use his own money to invest instead of taking money from his parents?

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You can't convince them Bitcoin is the best alternative if they don't like the idea of investing in volatile assets. You have to respect their preference to invest in gold, land and offers proportionated by banks. Each investor has a different profile and there are investments alternatives for each of them. In your case it was Bitcoin, but for your family it's not, and there are no problems with that.

Maybe within time, once they see what you have achieved through your BTC personal investments they start changing their views on it for the better. But no hurry, and don't take it as an essential objective in your life. Let it happen naturaly.

Topic: Bitcoin Vs Gold, land which better? - page 8. (Read 1223 times)