Bitcoin vs Gold: The Age Old Debate - page 3.

XinXan

hero member

Activity: 1064

Merit: 505

Quote from: Towlie on February 19, 2015, 11:48:10 AM

I think gold is always going to remain more stable and will always have a real world use as a useable precious metal, but bitcoin is unstable and unpredictable, though I do think it is the best option to see a big profit and return on investment though it's very risky and not guaranteed. I'd prefer to put most of my money in Bitcoin for investment purposes. I just think we'll need a few years to see big gains hopefully.

But gold has been there for a long long time so its understandable to be more stable. Bitcoins are fairly new and can still grow, i think thats a really good quality. Meanwhile gold has a stable price with bitcoins you could buy 1 today and in some years maybe its worth 5.000$ or maybe 1$ thats the beauty of it

jones techbit

full member

Activity: 138

Merit: 100

Any mineral or metal can be taken from you by executive order.

ajareselde

legendary

Activity: 1722

Merit: 1000

Satoshi is rolling in his grave. #bitcoin

Quote from: Towlie on February 19, 2015, 11:48:10 AM

I think gold is always going to remain more stable and will always have a real world use as a useable precious metal, but bitcoin is unstable and unpredictable, though I do think it is the best option to see a big profit and return on investment though it's very risky and not guaranteed. I'd prefer to put most of my money in Bitcoin for investment purposes. I just think we'll need a few years to see big gains hopefully.

We all hope the same, waiting for the mining phase to be cut to <0,1btc, when bitcoin potential will be shown, after mining becomes less attached to the price.
Thing with gold is that there will allways be more gold, where bitcoins can only be 21 million. And with advancement of technology, gold mining can be more and more adopted to yield more gold at less expence, which is not the case with bitcoin.

cheers

picolo

hero member

Activity: 1022

Merit: 500

Quote from: Towlie on February 19, 2015, 11:48:10 AM

I think gold is always going to remain more stable and will always have a real world use as a useable precious metal, but bitcoin is unstable and unpredictable, though I do think it is the best option to see a big profit and return on investment though it's very risky and not guaranteed. I'd prefer to put most of my money in Bitcoin for investment purposes. I just think we'll need a few years to see big gains hopefully.

Bitcoin is very useful so very valuable. It is trust by many so it is even more valuable.

Bitcoin is very valuable for the same reasons even if it is not trust by that many yet.

Towlie

member

Activity: 65

Merit: 10

I think gold is always going to remain more stable and will always have a real world use as a useable precious metal, but bitcoin is unstable and unpredictable, though I do think it is the best option to see a big profit and return on investment though it's very risky and not guaranteed. I'd prefer to put most of my money in Bitcoin for investment purposes. I just think we'll need a few years to see big gains hopefully.

xcapator

sr. member

Activity: 322

Merit: 252

Here I Am !!

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.

ajareselde

legendary

Activity: 1722

Merit: 1000

Satoshi is rolling in his grave. #bitcoin

Quote from: Fernandez on February 16, 2015, 02:23:36 AM

I always maintained Bitcoin is like digital gold. Only disadvantage right now is the extreme volatility but that will pass when it becomes sufficiently big.

volatility is something i came to love about bitcoin, because it provides you with enough chances to trade and profit if ure doing it right.
i wouldnt choose gold over bitcoin,never. since there will allways be gold to dig out, noone can tell for sure what the max supply of gold there is,
unlike bitcoin when u know from the start that theres only 21 milion of it and thats it.
cheers

bitdraw

hero member

Activity: 504

Merit: 500

Quote from: Fernandez on February 16, 2015, 02:23:36 AM

I always maintained Bitcoin is like digital gold. Only disadvantage right now is the extreme volatility but that will pass when it becomes sufficiently big.

another aspect that should be considered regarding volatility is equal distribution. maybe im wrong, but i think the more equal the distribution, the less volatile it will be

Fernandez

legendary

Activity: 1008

Merit: 1000

I always maintained Bitcoin is like digital gold. Only disadvantage right now is the extreme volatility but that will pass when it becomes sufficiently big.

Q7

sr. member

Activity: 448

Merit: 250

Quote from: neurotypical on February 15, 2015, 07:35:53 PM

Gold and all other currencies are objectively shitty and deprectaed when compared to Bitcoin.

Nice table but the only thing i see is that bitcoin shouldn't be in the government issued factor in the first place. It's rather unfair. Instead it should be something like 'backing' or 'acceptance' so the rest can be compared against each other.

Possum577

sr. member

Activity: 434

Merit: 250

Loose lips sink sigs!

Quote from: ?? on ??

Bitcoin is a digital currency, not digital gold
So, i think comparing Bitcoin & gold is a bit weird since they have different uses

How about buy gold with bitcoin Grin

They have the same uses - they're used as a store of value or as currency. Where's the difference you speak of?

Possum577

sr. member

Activity: 434

Merit: 250

Loose lips sink sigs!

Speaking to the obvious currency vs. asset class question that remains for BTC, did Gold have the high relative asset value when it was primarily used for currency? I would expect not but I don't know...anyone know for sure?

Another thing I'll be interested to see (and it will take some time for the trend to materialize) will be how BTC reacts to the rise and fall of the stock market. Gold tends to react inversely, will BTC have the same relationship?

OROBTC

legendary

Activity: 2912

Merit: 1852

...

neurotypical

A very nice table you presented to us, thank you.

I would argue that gold (certainly gold coins) are harder to successfully counterfeit than the table would imply ("Secure"). Experience in handling gold coins (weight -- can be better verified with the $20 Chinese scales available at coin shops), the "ring test" (striking a 1 oz Gold Eagle with a $1.00 Susan B. Anthony dollar makes a nice riiiiiing), careful measurement and visual exam all mean almost all fakes are easy to detect once you have some practice.

I would also argue that gold is more scarce than the table would imply. Most gold mining -- "All-In Costs" -- is not profitable at the +/- $1230 range we are in now. It takes some 10 years from a significant gold discovery to mine production as well.

And who cares if gold is not "Smart"?

Those "Traits of Money" are not all equal... But nice food for thought.

neurotypical

hero member

Activity: 672

Merit: 503

Gold and all other currencies are objectively shitty and deprectaed when compared to Bitcoin.

Rub3n

hero member

Activity: 563

Merit: 501

S> Cheap SocialMedia Hype's

Bitcoin is more of a currency then a materialistic type, ofcourse gold exists way longer and it would be the stable option.

Q7

sr. member

Activity: 448

Merit: 250

what makes both has value? basically it's acceptance. It's a certain value that we agree on to assign to it. If you notice what they share in common is also basically the scarcity.

picolo

hero member

Activity: 1022

Merit: 500

Quote from: Paleus on February 12, 2015, 05:12:50 PM

The bitcoin vs gold debate has raged on in investment circles since bitcoin has entered discussion circles among investors with increasing interest. Gold has been used as a form of currency and trade for thousands of years, but as we will show, bitcoin may be the kind of financial breakthrough to replace it.

Early on, seasoned investors began questioning the legitimacy of bitcoin value and wondering how such a commodity could have intrinsic value. What differentiates bitcoin from a mere collectible and what makes it similar to precious metal assets such as gold or silver? Among many circles, especially gold bugs and older-generation investors, bitcoin was not considered a valid investment up until very recently.

In order to properly analyze the value of bitcoin vs gold, we must clarify which attributes of gold are valuable and prop them up against the promise of bitcoin. When we measure the implications of today’s economic environment, it is clear to see that bitcoin is gold for the 21st century, or as some pundits have advocated, a ‘digital gold’.

Read the full article on Diginomics.

Bitcoin is useful so it has intrasic value but it doesn't have the industrial and jewelery properties that Gold has.

bitdraw

hero member

Activity: 504

Merit: 500

Quote from: Maegfaer on February 13, 2015, 12:21:08 PM

The big question is why specifically Bitcoin will become the "digital gold" of the future. Just because it was the first crypto-currency? I don't think so, the head-start is so small in the large scheme of things. At some point there will be a crypto-currency that has such vastly superior features and so much more adoption for whatever reason that everyone will forget about Bitcoin.

it depends if bitcoin gets enough adoption and use cases. they more it is integrated in you daily life the less likely you will switch to another currency

Maegfaer

newbie

Activity: 29

Merit: 0

The big question is why specifically Bitcoin will become the "digital gold" of the future. Just because it was the first crypto-currency? I don't think so, the head-start is so small in the large scheme of things. At some point there will be a crypto-currency that has such vastly superior features and so much more adoption for whatever reason that everyone will forget about Bitcoin.

OROBTC

legendary

Activity: 2912

Merit: 1852

...

Gold is the only thing I have ever bought with Bitcoin. Other than making a few BTC low-value donations to spread the word.

Topic: Bitcoin vs Gold: The Age Old Debate - page 3. (Read 4145 times)