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Topic: Bitcoin vs Gold vs Fiat - page 4. (Read 1058 times)

full member
Activity: 126
Merit: 171
April 10, 2019, 01:27:00 PM
#37
[....] Gold is really something that will always be appreciated[....]

Fact: in 1825, aluminum was worth 1500(!) times more expensive than iron, and in 1852 its price rose above the price of gold and amounted to $ 1,200 per kilogram.
Once upon a time a foreigner came to the Roman Emperor Tiberius (42 B.C.-87 A. D.). He presented as a
gift to the Emperor a bowl that he had made from metal shining like silver but extremely light. The craftsman revealed that he knew how to obtain this metal, which was unknown to all, from clay. The sense of gratitude probably rarely burdened Tiberius, and as a ruler he was not very far-seeing. Being afraid that the new metal, having
wonderful properties, would lessen the value of the gold and silver stored in the treasury, the Emperor ordered that
the inventor's head be chopped off and his workshop destroyed so that no one could be taught to produce this
"dangerous" metal. This history, related by the ancient historian, Pliny the Elder, has brought us information on the
first and, unfortunately, not quite pleasant acquaintance of man with aluminum.
https://link.springer.com/article/10.1007%2FBF00741130

Since then, someone has found an easy way to mine aluminum
What do I mean by that? If they find an easy way to mine gold? What then?

sr. member
Activity: 445
Merit: 250
April 10, 2019, 12:57:03 PM
#36
I would really like Bitcoin to be hung up on gold. But it seems to me that in the near future this will unfortunately not be. Gold is really something that will always be appreciated. I would also like to say so about cryptocurrency.
sr. member
Activity: 910
Merit: 252
April 10, 2019, 12:23:48 PM
#35
Thanks for your information , it is one of the well written comparison thread . But whatever the theoretical fact I am brlieving on gold over bitcoin because money depreciation may happen at any time . Either fiat or crypto currency . But gold will be having its actual value either in this country or any other .
legendary
Activity: 3164
Merit: 1127
Leading Crypto Sports Betting & Casino Platform
April 10, 2019, 10:19:41 AM
#34
There are 3 mining Pool Operators with >51% that could censor btc transactions.

and governments can also restrict gold in their countries, they may also have problems with Fiat, so do not get bitcoin problems when you know that gold and Fiat also have their problems

So bitcoin fails.

No

Gold is the real winner, it is scarce, it has additional uses outside of currency use.
Fiat is 2nd , because it has Government Backing it as currency.
Bitcoin is 3rd, it has no government support, and it requires millions of dollars of electricity to maintain it on a monthly basis or it ceases to exist.

this is your opinion

Gold , I can hide or store and it stays gold, it requires no additional money per month to stay gold.
bitcoin , without million spent every month ceases any activity and is not usable for anything.
Fiat, even if the government collapses  , you can still burn it for heat or wipe your arse with it.  Cheesy

I hope nobody will waste time arguing with you because it will be useless.

One Global EMP Pulse and Gold is still Gold and Bitcoin is Dead.

And what are you doing here?
full member
Activity: 784
Merit: 100
April 10, 2019, 10:05:38 AM
#33
in general, I would certainly use fiat, compared to bitcoin and gold. however, now I am aiming to find as many bitcoins as possible I did this to produce gold as a real investment. besides that gold and bitcoin can be a back up of fiat.
full member
Activity: 126
Merit: 171
April 10, 2019, 06:32:36 AM
#32
[.....] the government finally decide to use bitcoin for a new payment system for their country.

Bitcoin can still work as a payment network if such scaling solutions like the lightning network will be successful. And for this, first, it needs to establish itself as a means of preserving value in order to reduce its volatility.
legendary
Activity: 3374
Merit: 1922
Shuffle.com
April 10, 2019, 06:17:44 AM
#31
I want to add gold and fiat more dangerous ,we have seen the occurrence of thieves taking gold or fiat being brutally merciless to their owners so that they lose their lives ,bitcoin is easier to use without the risk of brutal theft because its not formed as an object to be more secure guaranteed your safety and your money
Bitcoin isn't different from the two, the thief could do the same on the owner until they give the necessary information to access their wallets.

It already happened to one person here's the thread that was started last month, even if Bitcoin is secure it doesn't matter the result stays the same when your life is on the line.
hero member
Activity: 2604
Merit: 816
🐺Spinarium.com🐺 - iGaming casino
April 10, 2019, 05:33:46 AM
#30
Fiat is currency made by governments without limits.... What can go wrong ?!
Are you serious? AFAIK, government can't print as many as they can as it will result to deflation of the value and it really needs to be backed by something neither gold to be specific.

From all of the three, nothing is perfect and still have its flaws thus nothing should be eliminate, our mode of payment is getting better with the help of bitcoin hence gold and fiat is still the norm in the economy. The more our options, the more it will be convenient.

I don't think that the government can easily to print the fiat because soon, the sources of materials for the paper will reduce a lot and in that time, the government needs to think about solving that problem and that will not easy. I think in that time, they will change from paper into something like bitcoin and who knows, the government finally decide to use bitcoin for a new payment system for their country.
hero member
Activity: 1540
Merit: 772
April 10, 2019, 05:29:46 AM
#29
To incorporate a perspective on Bitcoin among all world money, Howmuch has made insightful visualizations. Apart from money, gold has played an important role in the game of money because of its scarcity and selling power. Gold was still the basis of money in the 1960s, in an unbroken line that stretched to the beginning of history.
member
Activity: 588
Merit: 10
April 10, 2019, 04:45:07 AM
#28
..whatever it is,,fiat money is the most important factor in the economy..Bitcoin and gold plays important role in human's life..but the most durable is the fiat money,,because without your fiat currency you cannot buy Bitcoin and gold..Bitcoin and gold are key factor in your investments which you can use in order to increase your fiat money..
full member
Activity: 714
Merit: 100
April 10, 2019, 04:30:28 AM
#27
I do not see the point of this post. Yes, you outline some cons and pros, but is that what really matters?

For me, what matters is if it has legality and if it is readily accepted by everyone. But for now, those are not yet true in bitcoin.

right, it is not a matter of choice actually. btc investors don't pay attention whether it is legal or not, they just want to try it.
while fiat and gold is another league
full member
Activity: 126
Merit: 171
April 10, 2019, 04:23:59 AM
#26
[.....]. Crypto currency market is not matured enough and the adaptation of crypto currencies to the traditional markets is not completed. After a few years of this realization, it is more sensible to make such comparisons in a few years with people experiencing the advantages and possibilities of cryptocurrency.

It is unlikely Bitcoin replaces the gold market over the next decade.
Would the government build highways if only a few people had cars? NO. Bitcoin is an evolution in money and value transmission, but it will likely take time to build broad-based trust.
sr. member
Activity: 980
Merit: 294
April 10, 2019, 01:55:04 AM
#25
Fiat is currency made by governments without limits.... What can go wrong ?!
Are you serious? AFAIK, government can't print as many as they can as it will result to deflation of the value and it really needs to be backed by something neither gold to be specific.

From all of the three, nothing is perfect and still have its flaws thus nothing should be eliminate, our mode of payment is getting better with the help of bitcoin hence gold and fiat is still the norm in the economy. The more our options, the more it will be convenient.
legendary
Activity: 3542
Merit: 1352
Cashback 15%
April 09, 2019, 10:10:20 PM
#24
Just to add something on the table, Gold and Fiat can easily be stolen by means of physical contact and bitcoin, on the other hand is prone to hacks and virtual theft, with physical thefts slowly rising in recent times. In this case, no one is better than the other, as each are prone to hacks and thefts. Well anyone who possess some valuables on their hands, especially a substantial amount have it coming their way anyway if they are unprepared against such attacks.
hero member
Activity: 896
Merit: 630
April 09, 2019, 06:44:06 PM
#23
I think, it is too early to compare crypto currencies with gold. Crypto currency market is not matured enough and the adaptation of crypto currencies to the traditional markets is not completed. After a few years of this realization, it is more sensible to make such comparisons in a few years with people experiencing the advantages and possibilities of cryptocurrency.
full member
Activity: 126
Merit: 171
April 09, 2019, 06:08:44 PM
#22
As you can see each of bitcoin,gold and fiat have a advantage and disadvantage. Imagine if this three element will combine and help each other going to top of success all of will be beneficiaries. [.....]

That would be great. But are everyone ready to meet each other? I think, unfortunately, NO!
full member
Activity: 546
Merit: 100
April 09, 2019, 06:01:14 PM
#21
As you can see each of bitcoin,gold and fiat have a advantage and disadvantage. Imagine if this three element will combine and help each other going to top of success all of will be beneficiaries. But I think it will happen when bitcoin is going to a regularization stage that needs a lot of time to become possible.
hero member
Activity: 2156
Merit: 531
April 09, 2019, 04:51:12 PM
#20
I want to add gold and fiat more dangerous ,we have seen the occurrence of thieves taking gold or fiat being brutally merciless to their owners so that they lose their lives ,bitcoin is easier to use without the risk of brutal theft because its not formed as an object to be more secure guaranteed your safety and your money
legendary
Activity: 2030
Merit: 1569
CLEAN non GPL infringing code made in Rust lang
April 09, 2019, 04:18:28 PM
#19
full member
Activity: 1092
Merit: 117
April 09, 2019, 04:06:17 PM
#18
This is a very interesting article and what's even interesting is that bitcoin got the highest score even though people have been using gold and fiat for such a long time now. We can see gold is very close to bitcoin so it will probably stay there for a very long time, while fiat should very soon disappear out of this ecuation since it's definitely not the best thing people can use to store their assets.
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