Topic: Bitcoin vs. Gold Prices - page 12. (Read 2347 times)

But the time has changed and bitcoins have became much more expensive than even gold and platinum

I don't really care about prices atm, but i think gold is gonna re-lose popularity with the years. Maybe to bitcoin or an other new asset.

See:
The Real Reason to Hold Gold and Bitcoin
The Great Reflation Is Underway
Cryptocurrency as the Imperial End Game

It's not one way or the other (state or non-state money), but most of the time both, in modern history, ie using non-state money to bolster state money.  The classic example are the gold/silver standards that comprised about 90% of modern history.  The 45-year 'fiat' era (which is not really fiat but a rolling devaluation against gold) has been one of the most financially unstable periods in modern history.  The elites themselves, at the top, probably wish the gold standard would come back, but a return to gold would be highly embarrassing at this point.  Using crypto as the new gold is a perfect play.

The root issue in all of this is that, unlike ancient and other empires, the modern Western elites don't have enough hard power to impose their issued money onto the world.  (And it must be the entire world.  Shrinking back to the north Atlantic countries at this point would mean a financial crisis that made the Great Depression look good.)  They must use a combination of hard and soft power.  The latter consists of the fiction that the West has the best free-market institutions, so anyone who stores value in Western paper will keep their wealth.  If Western currencies maintain a stable exchange rate against a trusted/libertarian/anti-establishment money over a long time, it becomes a major fundamental boost to this soft power.

But, we have to expect the narrative won't be something like 'gold is money, and currency is debt' as under the gold standard.  The new narrative will be 'governments and central banks have to get their acts together, ie maintain fiscal/monetary discipline, in order to compete with cryptos.'

you do not need to categorically approach the future of the crypto currency and gold. I am 100% sure that I have learned that there are many more prospects to remain the value of all times and peoples, unlike the crypto currency.

Honestly, I don't think they are "supportive" in the sense you mean it. They might consider and actually use crypto as a sort of economic weapon against other inimical elites and competing economies, but I can't ever imagine that they would voluntarily give up the power and control that fiat money gives them. In other words, they are supportive of crypto as long as it gives them more power and control, as simple as it gets. And then we are back to square one. If crypto is all about free market and laissez-faire economics, how can they genuinely support it?

the price of gold will run slowly and very little profit but very secure so make some people invest their in contrast to bitcoin which gives a lot of risk because of its fluctuating price

As for me, investing in gold now, you provide the stability for yourself. Dealing with Bitcoin, you risk your money, but the profit can be unreally huge.

When we say bitcoin it is can not be touch and we can not see on it we only see a coin that sign of bitcoin, but we can earn a lot of money from it by making an account and started working on bitcoin just like posting all your answers regarding bitcoin.we can have a big profit from bitcoin and if you like to buy or invest on bitcoin you can buy and invest anytime you like,and when we say gold we can see it and touch it and so we can directly decide if its a right time to buy it and its price is very expensive and if you dont have to much money to buy it you can not buy on it and you can not have a profit from it if you can't buy the gold.bitcoin is still great compared to gold because we can still have an extra income or we can still earn a money from bitcoin without using money and only we can do is by working on it,unlike in gold that needed a money first just to have on it.

I'm sorry if there is any confusion.  What I distanced myself from was the (possible) suggestion that I wanted anarchy, or that I see the world as amoral.

When a lot of wealth and power are at stake, then rules are tossed aside, especially if they're unwritten.  This was 'precisely my point.'  I might have replied too fast.


(1) If you mean we're powerless, that is not true.  The entire system can be changed when the public have the awareness.  This goes far beyond Bitcoin, gold, etc. and is about the freedom of financial markets in the same way as the freedom of goods and services markets.  In addition, even while we have the status quo, every bit of extra awareness by the public will create a little bit more obstacles to the elites and a little more incentive for them to do the right things (e.g. leaning more on inflation rather than financial repression after a crisis -- as I mentioned inflation is the best of the bad choices at that point.)

(2) The elites are supportive of crypto, for their own reasons.  They're just not saying so openly.  I've pointed this out many times, and you can look up my writings under my profile, e.g. the thread 'Debt Does Matter, and Why Cryptocurrencies Have to Go Up' that I started, or the one linked from the OP.

(3) I would agree 'economics,' as currently defined and classified by mainstream academics, is too narrow a sphere to have a full debate on these subjects.  Economics treats the problem from a scientific angle only and doesn't consider the human problems of greed, deception, politics etc., when reality is the exact opposite.  All of the major drivers of modern events are directly or indirectly rooted in human deception via the money system.  The only world where economic science really applied would be one where truly free markets dominate -- in such a world, the field of economics would be much, much simpler (and more of a science) than it is today.

Gold has a lo of limitations in comparison to bitcoins. Biggest problem with gold is storage. If you are having good amount of fold, you will have to spend additional money on its security like a locker. In case of bitcoins, you can store coins worth millions in your wallet and there are additional safety measures like physical wallet.

Also, in case of gold ornaments , whenever you sell them, the jeweler deducts some money in name of making charges. In case of bitcoins, you get more than the money invested if price has increased.

But you just said that it wasn't what you meant. But never mind, I'm not nitpicking or whatever, I just want to say that it seems to be a dead-end from which there is no way out, no escape. The financial elites will never agree to accept crypto because they invented fiat not to go back to what can be called "digital gold" (in respect to controlled monetary supply). If this is the case, then we can't deal with these problems (e.g. inflation) and try to explain them on a purely economic basis. We will always have to consider the arbitrariness of the financial establishment actions.

Yes both having a great respect and good response by the users but my choice is bitcoin because of it’s value and extraordinary growth in a short time when comparing to gold bitcoin has a huge development in short time that’s why I’m saying bitcoin is better than gold now a days.

The only way out is public awareness.  There are no shortcuts.  Most of the Western public are aware of the need for a free-market economy.  They're not yet aware of a similar need for a free financial market.  They're aware of the evils of a centrally planned economy (Soviet Union, socialist China, etc.)  They're not yet consciously aware of those of their own centrally planned financial system.  The two sets of problems are almost completely analogous, down to the need for propaganda.

Under the popular academic labels, I suppose you could call this Austrian economics.  (Although there are aspects of that school that sound strange to me.)  Keynesianism and monetarism were popularized in their day, because of their benefits to the establishment -- giving academic cover for a new type of state-driven financial inflation to support or renew the system that had been benefiting the elites.


This was precisely my point.  I don't see how we differ on this.

The fundamental case for gold and other non-state-issued monies is IMO a lot simpler and more mundane than apocalyptic visions.  It is that the incentives inherent in the modern world system will always cause the elites to destabilize their own system, over time.  They have all kinds of powers to prop up their system, yes, but eventually all that this support does is to buy them more time.

When the system is broken enough, one way or another, the elites will have to devalue their issued money against non-state money.  At that point, the pent-up appreciation of non-state money will all be released.

There's an important distinction between precious metals and cryptocurrencies.  The total supply of the latter is actually unlimited (as I pointed out in the article linked to by the OP.)  If the elites want to make cryptos a viable form of money, they will have to, somehow and eventually, put some form of limitation on the rate of the production of coins, before most people realize this fact.  (And yes, everything is controlled: the prices of gold, Bitcoin, altcoins, everything.  And yes, it's in the great interest of the Western imperial elites, at this point, to support cryptos as a viable money, in fact if not openly in name.)

Okay, this is not what you meant to say but then this is what follows from your words. I don't really see why anyone would be good if they can be bad and being bad gives them a financial leverage. Am I the only one who smells utopian here? Rules are there to break, especially if breaking them doesn't entail any damages. And which rules do you talk about if we consider financial and monetary policies? Who is to set them and what metrics should be used? For example, there are competing economic theories like Keynesianism vs Monetarism vs everything else.

Gold has been in its niche for more than three thousand years. If bitcoin at least 100 years will grow by 1000% per year, it will be the best tool for investment. Bitcoins in the world are 23 million, capitalization is 200 billion dollars. Gold in the world for 7000 years. was extracted 161 million kilograms, and the total capitalization exceeds 9 trillion dollars. Bitkoinu need to increase in price at least 45 times to achieve gold capitalization

well, both are good enough to be used as an investment tool, and both do have a very high price. but, for now, I just focus on bitcoin prices, and collect bitcoin, because I feel that the potential of bitcoin is still bigger than gold. besides, it's easier to get bitcoin than gold.

These two things act different on their prices because they have a very different kind of market or environment so i think that we should not compare them two because if we will talk about profitability then it is very easy to say that bitcoin is the winner here because it is very profitable as its market's price is continue going up over the time because of its advanced technology and also very limited amount of supply.

I think bitcoins recent increase in price whilst the stock markets have declined will give people more confidence that it can act as a digital gold