Topic: BTC is scarcer than gold. - page 2. (Read 2074 times)

but the possibility seems that for generations after us, until now there has been no legalization from major countries, until finally hampering bitcoin adoption because many investors have to rethink investing in it, like us who believe in bitcoin, of course it is not a problem to invest to him with any amount, but not for ordinary people, it is different with gold that everyone has trusted

Gold is able to hold selling prices in a stable quarter, we rarely find gold experiencing a decline in buying and selling prices, even though the dollar has decreased.
But it is clear, that Gold and Bitcoin are different, for now I prefer bitcoin

For this problem it may be true, but also don't forget, bitcoin can experience a decline in price over time, even beyond the predictions of people in general. But what's interesting about bitcoin is that at certain times the selling and buying prices increase quite quickly, so that investing in bitcoin can provide maximum benefits.

https://twitter.com/stackhodler/status/1469038294591754240

I always believed that Hal Finney was satoshi, the last message Satoshi ever sent to the world was before Hal died, and after that we never saw any message from Satoshi himself, maybe that is just luck but I feel like they are too connected, and the fact that he "friended" Hal right away as the first person to deal with bitcoin aside from Satoshi is also another big key. He believed in bitcoins success, and he was really in love with it until he passed away.

However, bitcoin equaling the whole wealth of the world is a bit too much, maybe like be at the levels of gold? Like 500k each bitcoin give or take? That would be something understandable for sure.

bitcoin and gold are different things bitcoin is crypto and gold is a metal maybe in terms of use they have something in common but the differences are also very much first asset form Gold in the form of metal is often also used as jewelry and is very much in demand. and gold is also a profitable investment choice because it has a more stable value. while bitcoin has a digital form and cannot be owned in physical form and in the form of a balance stored in an electronic wallet or blockchain the second is asset availability gold comes from natural resources that are limited and rare in my opinion because its availability is not known for sure while bitcoin the amount and assets or supply is known and has been determined by the bitcoin maker The third is the determination of the selling and buying prices The price of gold itself is determined by many things such as global conditions, the amount of demand, inflation and the exchange rate of the dollar (US). whereas bitcoin is determined by the state of the economic market, inflation and declines in other investment assets. So in conclusion, both have their own advantages and both are the best investment assets.

Somehow people always want to compare bitcoin to gold. I don't think these two assets are the same even though they deserve my attention and consideration in an investment portfolio. I've known gold longer than bitcoin, but I believe the use cases are very different in the real world.

Bitcoin is not physical, but is the most valuable asset with a limited supply to satisfy a decentralized financial system. Compared to gold, bitcoin is trusted by a small part of the world community as the best investment asset but gold has been around for thousands of years which until now remains the investment choice of the majority of people in the world. I really want to know which one is the best as an investment asset because so far gold has dominated my investing for real assets.

Exactly the reason why holding fiats is not that practical and reliable anymore especially these times that there's a lot of inflation happened lately, the US cannot deny anymore that their fiat is becoming more and more useless, and printing more of it will just make the situation worse.

Also, we cannot really rely on those experts saying that bitcoin is expected to climb to the price of $xxx,xxx soon because their predictions are not on point and that's already proven. But it's still worth noting that holding bitcoin is much more practical than holding fiat alone and bitcoins can be used as a defense against inflation. Thanks again, Satoshi!

BTC may be in fact scarcer then gold but I don’t think that makes it more valuable than gold. Gold has from time been a scarce valuable mineral resource that is used in the production of jewelry and other valuable items. BTC on the other hand has a definite number out there so it would definitely get exhausted someday. You claim there are 55,000 tons of gold left yet there still are still a lot of untapped gold deposits in the universe.
I think the correlation between the two isn’t viable as gold being a mineral resource is something we can all see and know to be valuable. I think there are lots of untapped gold deposits still on planet earth and we wouldn’t have to look to asteroids for gold.

Some users just be posting drivel.

Much like in regular finance, or well, any other job where talking and exposure seems to get you social media street cred, experts are a dime a dozen in crypto. There are even people now advertising courses to turn noob influencers into experts, and actually get them hired in crypto companies as experts. I keep getting offers on LinkedIn to pay me to be a speaker on some online panel as some branded expert and I'm not even remotely qualified.

Gold supply is still unknown and it's available till the last gold mine is not shut down or there are chances that you can find another one year after also and it has been in circulation for ages but on the other side btc supply is fixed and capped to 21million only and that also till 2140 with POW mechanism and you can't change it without concensus.

And it goes same with the gold also as they have not started mining at other planets but suppose the human found life on another planet then you would need internet and phone to use bitcoin so it's non physical indentity mande it usable everywhere.

Although it is true and certain in the future bitcoin is the best investment for everyone. But people should also know, that bitcoin and gold are different, bitcoin does not have a more specific form like gold. Both are very different in real practice, overall I prefer bitcoin to invest, because the long process of bitcoin has shown how valuable bitcoin is today, so it is possible that bitcoin will get better in the future

One could argue that anyone that is predicting that has a vested interest in their prediction so they are far from a neutral observer. I haven't heard any logical argument that would support that prediction and if the last 5 or 6 years has taught us anything it is that bitcoin getting to higher price levels is not going to be a slam dunk.

Shouldn't that just make bitcoin do even better though? With inflation and things? at any rate, bitcoin's current price is reflective of the value it provides to the world at large. you can't argue with that. when prices are low or when prices are high...

The US Dollar (as well as any other Fiat currency) is prone to devaluation over time (also known as inflation). Governments continuously print more money in order to help "pump" the economy. But what they're ultimately doing is destroying the nation by increasing debt. That's where both Bitcoin and Gold come in. These two assets are known to be a safe haven against inflation because of their added scarcity. Especially Bitcoin which has a smaller and predictable supply than Gold itself. While the latter is much more recognized as a store of value, it isn't as portable as Bitcoin is. By portability, I mean that you can carry the asset/commodity with you anywhere with ease. Bitcoin can be hidden in the smallest place you can think of, but that's not possible with Gold (imagine carrying lots of bulky Gold bars bringing unwanted attention). That's one of the many benefits Bitcoin has on top of Gold.

The reason why Bitcoin is struggling to rise in price right now, it's because of the deteriorating global economy. But it has still outperformed Gold in terms of price gains within a short period of time. Gold is just static with minimal price increases over time. It's relatively stable based on past market performance. Ultimately, you decide which asset to hold for the long-term. As long as you don't hoard cash, you'll be safe from the negative effects of inflation. Just my opinion

This is what Hal Finney predicted in 2009:

Experts have been predicting that ever since bitcoin went to $1000 for the first time. One way that could happen though is if the us government printed so much money that the us dollar because worthless. Then bitcoin would be worth $1m usd but it probably couldn't buy you a car.

Now with that said, bitcoin could of course go to $1m without hyperinflation but we have had alot of inflation lately. lately meaning the last 2 or 3 years. in the usa. so the usd is becoming more worthless due to government printing more and more of it and it being backed by nothing.

Bitcoin is not only scarcer than Gold, but also easier to mine than Gold. It's highly portable and truly censorship-resistant. If people only knew Bitcoin's true benefits, prices wouldn't be this low. I think BTC is greatly undervalued, considering all of the benefits it provides to its holders. Most people consider BTC as a better store of value than Gold, because of the way it was designed. You won't see results in the short-term, due to the volatility of the crypto market. Only long-term holders will obtain huge returns in the future as Bitcoin's reaches a new All-time-high in price after every halving event.

Experts are already predicting BTC will reach $1m, so I'd suggest anyone to "hodl" strong whenever possible. As long as you don't invest more than what you can't afford to lose, there should be nothing to worry about. Just my thoughts

Yeah, it is not too early to compare bitcoin and gold. It is wrong to make a comparison between gold and bitcoin. Both were completely different and have completely different backing system.

Gold have got lot of uses, same as that bitcoin too have got multiple usage. The biggest difference, bitcoin is technology oriented with limited supply. Gold is rare metal that gained the value through its years of history.

I think that saying Bitcoin is scarcer than gold is totally wrong. 

First of all, you can divide Bitcoin into smaller parts and it works just the same. So this divisional fungibility really is what makes it possible for everyone to own some parts of a Bitcoin. Gold on the other hand needs to be a certain minimal quantity to be useful. Secondly and more importantly, Gold can be recycled but in a lot of use cases it's destroyed forever (made unrecoverable or not worth recovering). Bitcoin does not fall victim to entropy after too many uses. It stays fine as it is, no matter how many times it is used.

So you will find it's gold that is slowly fading away and becoming scarce, not Bitcoin.

It seems to me you are confusing scarcity with value because they share the same property of existing in a limited amount.

I created this kind of topic (https://bitcointalksearch.org/topic/m.60671668) on August 1st and from the response I got, I learnt that it's too early to begin to compare gold with Bitcoin.  According to history, gold has been in existence for over 5000 years and persevere through ages with different purpose which it serve. Bitcoin on the other hand has only been in existence for about 13 years now.
      . According to records, about 78% of the gold consumed each year is used in the manufacturing of jewelry.  
      . small amount of gold is used in almost every sophisticated electronic device. This includes cell phones, calculators, personal digital assistants, global positioning system (GPS) units, and other small electronic devices.
      . Gold is known to have been used in dentistry as early as 700 B.C.
      . Small amounts of gold are used to remedy a condition known as lagophthalmos, which is an inability of a person to close their eyes completely.

Gold has lots of uses and is really too early to compare gold with Bitcoin. Gold can server as my physical asset and Bitcoin can fit in as my digital asset it feels good to me having the both asset.

Number of Bitcoins is limited which makes it a scarce asset which is a known fact. Whereas many geographers also suggest gold is a scarce metal which may not be the fact as many areas of the subject are not studied yet.