Topic: Bitcoin vs Gold: The Age Old Debate (Read 4199 times)
Both are similar in one way, Prices go up when there is demand for them and prices go down when there is too much supply. Comparing these both to other means of investment "the Real Estate" ,the price factor is based on Location, Age, Facilities etc., Gold and Bitcoin prices are dependant only on demand and supply.
Gold is very precious metal!Bitcoins are precious currency these both are valuble.helps for different occation at any time 
Bitcoin will replace gold as global current.
bitcoin is much convenient to save, transfer and split.
bitcoin is much convenient to save, transfer and split.
I wouldn't consider gold to be a worldwide currency as I cannot really use gold down the road on the corner store... It still has value and is good for storing money but I can't use it everywhere whereas bitcoin I (sort of) can.
If you are in a place like India, gold can be easily converted to fiat.
You will have to really try hard to convert bitcoins to fiat.
Depends on the country I guess. Ultimately gold has the same bottleneck as bitcoin at present. If I tried to exchange it for goods and services, I can't think of a single person or place who would. I have to go to a market or dealer who would buy it off me. They can be shut down.
If a government wanted to do a 1933 all over again then I'm stuck with my shiny stuff or I have to hand it over. Eventually bitcoin won't have that problem if enough people accept it directly.
Gold has been in a bear market for 3 1/2 years. I don't think most of you could survive a 3 1/2 year BTC downturn. It might take another 12 months to get down to $100 and then it might trade sideways for another year.
And gold's last all time high adjusted for inflation was 35 years ago. I'd be cutting my BTC losses if it took that long again, or I'd already be dead most likely.
Bitcoin will replace gold as global current.
bitcoin is much convenient to save, transfer and split.
bitcoin is much convenient to save, transfer and split.
I wouldn't consider gold to be a worldwide currency as I cannot really use gold down the road on the corner store... It still has value and is good for storing money but I can't use it everywhere whereas bitcoin I (sort of) can.
If you are in a place like India, gold can be easily converted to fiat.
You will have to really try hard to convert bitcoins to fiat.
Bitcoin will replace gold as global current.
bitcoin is much convenient to save, transfer and split.
bitcoin is much convenient to save, transfer and split.
I wouldn't consider gold to be a worldwide currency as I cannot really use gold down the road on the corner store... It still has value and is good for storing money but I can't use it everywhere whereas bitcoin I (sort of) can.
You can add hideability, important now as in the old days.
If you buy gold to someone and store it yourself, it is very hidden as well
I think that applies for Fiat money as well. You can hide that too just like gold. But bitcoin doesn't take up that space, and if the government comes across that paper, they won't really know what it is
...
Erdogan, picolo,
As long as you don't take your gold with you when going sailing... It's one of the oldest stories in the book: gold lost in boating accidents. Happens all the time. Please keep this in mind when you think about taking your gold from that dark place where you have it hidden at home.
One of my friends lost all of his when he took his gold & silver icefishing with him. ALL DAY LONG he was having no luck. But, *wham!* he got a strike and fought that fish. Unfortunately, his PMs fell through the hole just as he reeled in his fish. He got walleye, so at least the day was not a total loss.
Another one of my friends not only lost his gold & silver in the woods, but his guns and ammo too! Yikes, it's a dangerous world out there, can't be too careful.
Erdogan, picolo,
As long as you don't take your gold with you when going sailing... It's one of the oldest stories in the book: gold lost in boating accidents. Happens all the time. Please keep this in mind when you think about taking your gold from that dark place where you have it hidden at home.
One of my friends lost all of his when he took his gold & silver icefishing with him. ALL DAY LONG he was having no luck. But, *wham!* he got a strike and fought that fish. Unfortunately, his PMs fell through the hole just as he reeled in his fish. He got walleye, so at least the day was not a total loss.
Another one of my friends not only lost his gold & silver in the woods, but his guns and ammo too! Yikes, it's a dangerous world out there, can't be too careful.
I feel both gold and BTC are on an upward trend. Gold is more safe bet, but the turnaround for BTC will likely be faster.
BTC is riskier, there is some chance that it may start going down again and end up much lower. With gold the confidence is much higher.
BTC is riskier, there is some chance that it may start going down again and end up much lower. With gold the confidence is much higher.
You can add hideability, important now as in the old days.
If you buy gold to someone and store it yourself, it is very hidden as well
You can add hideability, important now as in the old days.
Gold and all other currencies are objectively shitty and deprectaed when compared to Bitcoin.
its not a great table. lets add somethings like......
does it work in areas without computers, internet or electricity? (like a large part of the world)
does it have an industrial use?
can you hold it in your hands?
if your die, can your loved ones easily get the left overs?
will it still be around in 10,000 years?
can it be hacked?
can you use it to pay your taxes?
------------
anybody can make a table to make their product look better
things start off as collectibles and then turn into money.
gold started off as a collectible because it was shiny and pretty. people made jewelry out of it.
but then after something is a collectible it can become money. that eventually happened to gold.
right now bitcoin is still just a collectible. it is basically bling bling for computer geeks. maybe someday it will turn into money, maybe not.
gold started off as a collectible because it was shiny and pretty. people made jewelry out of it.
but then after something is a collectible it can become money. that eventually happened to gold.
right now bitcoin is still just a collectible. it is basically bling bling for computer geeks. maybe someday it will turn into money, maybe not.
Bitcoin will replace gold as global current.
bitcoin is much convenient to save, transfer and split.
bitcoin is much convenient to save, transfer and split.
It will be hard to make beautiful watched in Bitcoin or use Bitcoin in satellites and electronic components.
Bitcoin will replace gold as global current.
bitcoin is much convenient to save, transfer and split.
bitcoin is much convenient to save, transfer and split.
Gold and all other currencies are objectively shitty and deprectaed when compared to Bitcoin.
Great table. Presses on things that differentiate bitcoin from any other currencies. You can clearly see that bitcoin dominates among them, but still doesn't get the attention of the majority which makes it a 'nope' for average people.
Adoption rate, y u so slow?
Great table, but you forget that only hacker can steal from bitcoin and not gold or fiat. So not that great afterall.
I think it's a great comparison chart. What it says there is that it's secure because it "cannot be counterfeited" which is exactly true and it's straight to the point. There are counterfeit gold bars, coins whatever including fake paper currency but you obviously can't create bitcoins out from nowhere.
Great table, but you forget that only hacker can steal from bitcoin and not gold or fiat. So not that great afterall.
This table assumes logical precautions are taken,
You wouldn't leave gold lying around your house, would you?
bitcoin is digital and gold is phisical. extralong term investors will always use phisical items. btc may be more valuable than gold as it has limited supply.
Gold and all other currencies are objectively shitty and deprectaed when compared to Bitcoin.
Great table. Presses on things that differentiate bitcoin from any other currencies. You can clearly see that bitcoin dominates among them, but still doesn't get the attention of the majority which makes it a 'nope' for average people.
Adoption rate, y u so slow?
Great table, but you forget that only hacker can steal from bitcoin and not gold or fiat. So not that great afterall.
the only problem i could see, is that gold will not be replaced anytime soon, but bitcoin could(because the important part of bitcoin is its technology)...a better currency might come up and ruin the "bitcoin life", this is one of my biggest worry.
What people forget is that Bitcoin was only at $30 at the start of 2013. Do the math on that.
Oddly enough, at $270, that is a 600% gain.
Coincidence or a sign?
-C.
Update: I just realized this would be an 800% gain. 240/30 = 8.
Jump to: