Gold has many years, a lot of history and is considered the biggest way out or solution to global financial crises, in all events gold is present to support any type of economy, action, among others.
Bitcoin is something very different, it is a digital currency that has no support, and that is based on Blockchain technology that has a very large market where it is governed by the Law of Supply-Demand, where it is of a decentralized nature, has little history , only 10 years after its appearance, despite this it has gone through the market phases where volatility is very high and has generated an alternative economy where it puts the traditional economy in check.
The only thing that gold and Bitcoin have in common is that they both represent money, and where there is money there are interests, where they are very different but they resemble each other because most people want to have them.
I believe that the biggest advantage that Bitcoin has over Gold is that it is easy to transfer, large sums of money can be handled and its transaction takes very little time to arrive from its issuer to any part of the world, paying a not-so-high Fee like the one that would be paid to send gold from one side to another across borders and paying a lot in permits and taxes.
Topic: Bitcoin with real gold (Read 29748 times)
Let's look at reason why Gold cannot go to $0. I can think of at LEAST 2 reasons:
1) Gold can make very good and reliable electronic contacts. If gold is cheap then it will be used instead of tin, copper, and other metal that corrode in its environment and make computer and other electronics unreliable
2) Gold will not rust. I can build a house with roof plated with 1mm worth of gold if its $1/oz (still not $0)
and it will not leak for centuries. Gold is extremely malleable and unlike copper it won't harden due to wind and mechanical vibration (and it would develop micro fracture which is why copper roof can leak)
Bitcoin can go to $0 in following cases:
1) All coins were made unusable, for example run out of 0's on merkle root so no new transactions can be had due to extremely fast computer/miner that secure the bitcoin network before a hard fork to address these issues,
2) network protocol which bitcoin runs on achieves 100% ban / packet blocked globally.
1) Gold can make very good and reliable electronic contacts. If gold is cheap then it will be used instead of tin, copper, and other metal that corrode in its environment and make computer and other electronics unreliable
2) Gold will not rust. I can build a house with roof plated with 1mm worth of gold if its $1/oz (still not $0)
and it will not leak for centuries. Gold is extremely malleable and unlike copper it won't harden due to wind and mechanical vibration (and it would develop micro fracture which is why copper roof can leak)
Bitcoin can go to $0 in following cases:
1) All coins were made unusable, for example run out of 0's on merkle root so no new transactions can be had due to extremely fast computer/miner that secure the bitcoin network before a hard fork to address these issues,
2) network protocol which bitcoin runs on achieves 100% ban / packet blocked globally.
Yes, you right about gold. You wrong about bitcoin. That is like having a meteor falling from the sky and landing on you. The odds are the same. Nothing can go to 0 value. Every single thing in this world has got a value given to it in some form or way or another.
Bitcoin and real gold are two forms of investment that are equally profitable. But I can only give advice if you want to use it for short-term investments so bitcoin is the right choice. Bitcoin price volatility makes bitcoin prices in the future difficult to predict for sure. Bitcoin is very dependent on the internet so that when the internet dies, bitcoin will automatically be destroyed. If you want to invest for the long term, gold is a more appropriate choice. Physically, the form of gold does exist so that it can be seen in plain view. Even this gold applies in any country because it is a real form.
Bitcoin is a digital asset. Gols is a gener accepted financial instrument. Earlier all people want to hold gold.Now all people want to hald BTC. Time changes and financial standarts also... By the way want to hear from you what trading platform do you use? Personally i prefer Monfex because of its 20X leverage and safety. What about you ?
If gold attracts capital due to its stability, then in the case of Bitcoin, the opposite is true - the trader is interested in BTC precisely because of its volatility. The best way to diversify risks is to store your savings in these two assets at the same time. So, the trader can leave part of the savings in gold, which will bring long-term benefits, but after a long time, and store the second part in cryptocurrencies, engaging in constant trading.
Let's look at reason why Gold cannot go to $0. I can think of at LEAST 2 reasons:
1) Gold can make very good and reliable electronic contacts. If gold is cheap then it will be used instead of tin, copper, and other metal that corrode in its environment and make computer and other electronics unreliable
2) Gold will not rust. I can build a house with roof plated with 1mm worth of gold if its $1/oz (still not $0)
and it will not leak for centuries. Gold is extremely malleable and unlike copper it won't harden due to wind and mechanical vibration (and it would develop micro fracture which is why copper roof can leak)
Bitcoin can go to $0 in following cases:
1) All coins were made unusable, for example run out of 0's on merkle root so no new transactions can be had due to extremely fast computer/miner that secure the bitcoin network before a hard fork to address these issues,
2) network protocol which bitcoin runs on achieves 100% ban / packet blocked globally.
1) Gold can make very good and reliable electronic contacts. If gold is cheap then it will be used instead of tin, copper, and other metal that corrode in its environment and make computer and other electronics unreliable
2) Gold will not rust. I can build a house with roof plated with 1mm worth of gold if its $1/oz (still not $0)
and it will not leak for centuries. Gold is extremely malleable and unlike copper it won't harden due to wind and mechanical vibration (and it would develop micro fracture which is why copper roof can leak)
Bitcoin can go to $0 in following cases:
1) All coins were made unusable, for example run out of 0's on merkle root so no new transactions can be had due to extremely fast computer/miner that secure the bitcoin network before a hard fork to address these issues,
2) network protocol which bitcoin runs on achieves 100% ban / packet blocked globally.
Many say that Bitcoin can be considered a virtual gold. However, don't forget about the volatility of Btc and the fact that if tomorrow hype is gone, Btc price goes to zero.
Gold could never reach zero value because there are many currencies being guaranteed by gold and if you have some gold that nobody wants one day you can at least build your own jewelry from it.
Gold could never reach zero value because there are many currencies being guaranteed by gold and if you have some gold that nobody wants one day you can at least build your own jewelry from it.
Bitcoin and gold are completely different financial assets that have virtually nothing in common. They invest in them, since they profit from rising prices. This is one of the few common similarities. However, even if we consider them as a means of storing value, then bitcoin is very difficult for Bitcoin due to its very high price volatility.
Bitcoin and real gold are two forms of investment that are equally profitable. But I can only give advice if you want to use it for short-term investments so bitcoin is the right choice. Bitcoin price volatility makes bitcoin prices in the future difficult to predict for sure. Bitcoin is very dependent on the internet so that when the internet dies, bitcoin will automatically be destroyed. If you want to invest for the long term, gold is a more appropriate choice. Physically, the form of gold does exist so that it can be seen in plain view. Even this gold applies in any country because it is a real form.
Bitcoin is a digital asset. Gols is a gener accepted financial instrument. Earlier all people want to hold gold.Now all people want to hald BTC. Time changes and financial standarts also... By the way want to hear from you what trading platform do you use? Personally i prefer Monfex because of its 20X leverage and safety. What about you ?
yes, it just needs to be recognized by people all over the world, then become the official means of trading, it is the gold of the future
Bitcoin and real gold are two forms of investment that are equally profitable. But I can only give advice if you want to use it for short-term investments so bitcoin is the right choice. Bitcoin price volatility makes bitcoin prices in the future difficult to predict for sure. Bitcoin is very dependent on the internet so that when the internet dies, bitcoin will automatically be destroyed. If you want to invest for the long term, gold is a more appropriate choice. Physically, the form of gold does exist so that it can be seen in plain view. Even this gold applies in any country because it is a real form.
Bitcoin will never become anything even approximately similar to real gold, these are two completely different substances. With different goals and purposes.
We can boast that Bitcoin has the following gold-like characteristics:
1. The Supother is limited, where there will only be 21 million bitcoins spread across the world.
2. Not created by the central Bank/government, but by a party unknown to its original identity.
3. Not manufactured or controlled by an individual, group or company.
4. Impossible to be duplicated.
5. It is durable and not easily destroyed.
6. Acquired by means of mining, but using the program and mathematical algorithms.
7. Can be transacted around the world.
8.Transactions are irreversible, meaning once Bitcoin is given to someone else's hands, the transaction cannot be cancelled unless the person is willing to send the Bitcois back.
9. Can be exchanged and traded with various currencies in the world.
1. The Supother is limited, where there will only be 21 million bitcoins spread across the world.
2. Not created by the central Bank/government, but by a party unknown to its original identity.
3. Not manufactured or controlled by an individual, group or company.
4. Impossible to be duplicated.
5. It is durable and not easily destroyed.
6. Acquired by means of mining, but using the program and mathematical algorithms.
7. Can be transacted around the world.
8.Transactions are irreversible, meaning once Bitcoin is given to someone else's hands, the transaction cannot be cancelled unless the person is willing to send the Bitcois back.
9. Can be exchanged and traded with various currencies in the world.
Why do people waste their time always trying to compare bitcoin with real gold? These two entities are unique in their own significant way and are no way alike. Its high time people stop seeing Bitcoin as an asset. Bitcoin is never an aspect and will never be one.
Bitcoin and gold are exactly different from each other in terms of its existence. In terms of valuation both were on the demand to the supply availability. Gold being universal accepted for its physical presence and the years of history it holds within the metal. Bitcoin is completely technology backed system which has grown as the demand peaked in very short time period. Some countries have listed bitcoin under the same section on which gold falls for the taxation purpose. This way it is upto the person who decides bitcoin and gold can be considered the same or different.
Of course, each of us can give some examples of what Bitcoin or gold is better for him. But I do not want to delve into this kind of controversy, because I believe that a pragmatic person who has financial capabilities should have both Bitcoin and gold available. Even in small quantities, but it is possible to guarantee a comfortable existence in the future.
Bitcoin and gold are exactly different from each other in terms of its existence. In terms of valuation both were on the demand to the supply availability. Gold being universal accepted for its physical presence and the years of history it holds within the metal. Bitcoin is completely technology backed system which has grown as the demand peaked in very short time period. Some countries have listed bitcoin under the same section on which gold falls for the taxation purpose. This way it is upto the person who decides bitcoin and gold can be considered the same or different.
Yeah, it's not only Bitcoin suffers from constant increases and decreases, but other currencies as well, including real gold. But still, I suppose our common money and gold aren't so volatile as they are controlled by the government. But I could be wrong...
We can't compare Bitcoin and Gold because both have own value in digital and physical point of view, many folks saying BTC will reach GOLD level.
NO doubt both are the best investment at the moment but big investors still suggest investment in gold, one day BTC will blow gold investors mind!
NO doubt both are the best investment at the moment but big investors still suggest investment in gold, one day BTC will blow gold investors mind!
You are right..bitcoin never will be vanish like gold..its price sometimes increase sometimes decrease but its does't mean it that will be vanish
Gold never vanished. It is still best-wanted precious metal, the investment that can make you if not a billionaire then a rich person. Bitcoin can vanish unfortunately as soon as it is not physical stuff, but I am also sure that it will live for many years.
I think that the main assets of people are in securities and metals. In the cryptocurrency dampen or those funds for which you do not need to worry, or those that in any case are not the last in your personal budget. But definitely there must be confidence that investing in Bitcoin in a few years can bring not only 100 x, Perhaps even 1000 X.
Bitcoin and gold have differences and there are also similarities, maybe the similarities are equally investment places, the difference is in terms of prices that are very volatile or fluctuating in bitcoin, so most people choose gold which is more stable and not have a risk that is too large for the losses that will be borne
I only think gold and bitcoin have the same investment value, but now I only want Bitcoin investment because of its value, because Bitcoin has more value than gold and I can buy gold when I profit from Bitcoin investment..
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