Compared to Bitcoin, gold doesn't seem real... - page 5.

cbeast

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Let's talk governance, lipstick, and pigs.

Quote from: jabo38 on November 18, 2014, 12:46:55 AM

Quote from: countryfree on November 17, 2014, 02:59:54 PM

Sorry, but I think gold is much more secure.
I have a deposit box in a bank which has never been robbed, while I've already lost loads of data because of hard disk failures.

I agree. I am sure there are lots of cases of people getting bitcoins stolen and also lots of cases of gold getting stolen.

But gold stored properly, like in a safety deposit box (I know some are sooo paranoid to not keep it there) and Bitcoins stored safely are both really hard to steal. (I use Coinbase's new multisig vault and again many people complain, but I don't think my coins will ever be stolen)

My father died and had things including gold in a safe deposit box that he was supposed to leave to me, they disappeared. If you have to have a separate box just for each gold asset you bequeath, then storage will get expensive.

jabo38

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mining is so 2012-2013

Quote from: countryfree on November 17, 2014, 02:59:54 PM

Sorry, but I think gold is much more secure.
I have a deposit box in a bank which has never been robbed, while I've already lost loads of data because of hard disk failures.

I agree. I am sure there are lots of cases of people getting bitcoins stolen and also lots of cases of gold getting stolen.

But gold stored properly, like in a safety deposit box (I know some are sooo paranoid to not keep it there) and Bitcoins stored safely are both really hard to steal. (I use Coinbase's new multisig vault and again many people complain, but I don't think my coins will ever be stolen)

jabo38

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mining is so 2012-2013

Well, gold is definitely more clunky and harder to send across the world.

maddog0000

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Quote from: cbeast on November 17, 2014, 11:25:00 AM

Compared to Bitcoin gold doesn't seem real... secure. Sure you can keep it in a vault, but then you can't spend it. If you do carry it around, it's far more noticeable for robbers to steal than cash because it's heavier. It's harder to hide in your home because of metal detectors. Even vaults aren't safe without armed guards, which are expensive and sometimes untrustworthy. Bitcoin can be secured in ways that are impossible to steal, even under duress with five dollar wrenches. That way, they can't even be stolen by home invaders. Bitcoin may be volatile, but gold can be easily stolen. They are easily hidden and layered with decoys. They can be time locked better than any bank vault. Bitcoins can protect some of your wealth even when you are wrongfully judged by an imperfect society. With Bitcoin, you can travel the world and know your wealth is secure. You can have much faster access to liquidity with Bitcoin if you really need it. Bitcoin just makes you feel so much more secure. It makes you feel like credit cards used to before all the identity theft and privacy issues. Why would anyone feel personally secure with gold?

Well stated, I'll be quoting this if you don't mind.

Melbustus

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Quote from: ?? on ??

Quote from: Melbustus on November 17, 2014, 03:05:37 PM

Quote from: countryfree on November 17, 2014, 02:59:54 PM

...while I've already lost loads of data because of hard disk failures.

Sounds like you're doing it wrong.

It's *far* easier (and cheaper) to secure (and transport) non-trivial quantities of bitcoin than non-trivial quantities of gold, for all the reasons OP noted. Dismissing all those reasons because *you* are not good at backing up your own data does not refute anything.

Whatever. Gold is much more secure. I also have gold in a safe deposit box that hasn't been touched for years.

Bitcoin on the other hand, I've had stolen/hacked in several instances.

Secondly, is that how you're going to pitch bitcoin to the masses? If you get robbed it's your fault? How often is robbery the victim's fault?

Spare me.

Quote from: ?? on ??

Sure, bitcoin is more secure if you're potential attacker/thief is some government entity or you're delusional. Otherwise, as it currently stands, for most people, gold is more secure. I can have gold in my room right now and if someone wants to steal it, they have to come to my room, physically. I'll defend it. If someone wants to steal my bitcoin, if not cold stored, they can be anywhere in the world to try and steal it. The only way for bitcoin to be as secure as gold is cold storage, which essentially defeats the purpose of bitcoin because we don't currently have a way to do offline transactions or off the blockchain, as far as I know.

I'm all for bitcoin, heck at certain points I've held hundreds at a time, but it's certainly not as secure as paper money or gold. Just the same way - if I write a note on a piece of paper, it's far more secure than if I write a note on a web-based note taking service.

Decent solutions, including assisted wallets, insured vaults, and multi-sig are getting more and more user-friendly and idiot-proof all the time. If you don't see that this stuff will improve for the masses, and that it'll ultimately be superior in nearly every way (even for mainstream users) vs keeping hunks of metal "safe" in your special hiding place, well, then, you're particularly short-sighted.

Quote from: ?? on ??

Is it my fault the note-service gets hacked?

You did not spare me. Grr.

Quote from: ?? on ??

Am I the idiot?

Well...

Buffer Overflow

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I can't backup gold.

cbeast

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Let's talk governance, lipstick, and pigs.

Quote from: TippingPoint on November 17, 2014, 08:18:19 PM

Quote from: cbeast on November 17, 2014, 08:14:25 PM

Quote from: TippingPoint on November 17, 2014, 08:05:35 PM

If you buy some, it will probably seem real. The market for gold is much larger. It has greater liquidity.

I had some gold jewelry stolen from me once. Does that count?

It counts. But jewelry is at a higher risk of being stolen. It is advertised wealth.

Actually they were hidden in my home and I hadn't worn them in years. Nobody knew I had them. Nothing else was stolen. The thief only wanted the gold jewelry. I suspect it was someone that I use to know.

I later had a laptop stolen with bitcoin wallets on it. They were encrypted and backed up.

TippingPoint

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Quote from: cbeast on November 17, 2014, 08:14:25 PM

Quote from: TippingPoint on November 17, 2014, 08:05:35 PM

If you buy some, it will probably seem real. The market for gold is much larger. It has greater liquidity.

I had some gold jewelry stolen from me once. Does that count?

It counts. But jewelry is at a higher risk of being stolen. It is advertised wealth.

BlindMayorBitcorn

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Quote from: cbeast on November 17, 2014, 11:25:00 AM

Compared to Bitcoin gold doesn't seem real... secure. Sure you can keep it in a vault, but then you can't spend it. If you do carry it around, it's far more noticeable for robbers to steal than cash because it's heavier. It's harder to hide in your home because of metal detectors. Even vaults aren't safe without armed guards, which are expensive and sometimes untrustworthy. Bitcoin can be secured in ways that are impossible to steal, even under duress with five dollar wrenches. That way, they can't even be stolen by home invaders. Bitcoin may be volatile, but gold can be easily stolen. They are easily hidden and layered with decoys. They can be time locked better than any bank vault. Bitcoins can protect some of your wealth even when you are wrongfully judged by an imperfect society. With Bitcoin, you can travel the world and know your wealth is secure. You can have much faster access to liquidity with Bitcoin if you really need it. Bitcoin just makes you feel so much more secure. It makes you feel like credit cards used to before all the identity theft and privacy issues. Why would anyone feel personally secure with gold?

Bitcoin is Gold 2.0

The future is real...cool Cool

cbeast

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Let's talk governance, lipstick, and pigs.

Quote from: TippingPoint on November 17, 2014, 08:05:35 PM

If you buy some, it will probably seem real. The market for gold is much larger. It has greater liquidity.

I had some gold jewelry stolen from me once. Does that count?

TippingPoint

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If you buy some, it will probably seem real. The market for gold is much larger. It has greater liquidity.

cbeast

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Let's talk governance, lipstick, and pigs.

Quote from: TaunSew on November 17, 2014, 05:57:33 PM

Well that comes down to scale. It's alleged the exchanges are already exchanging in fractional reserves and manipulating the price of BTC. Wait until the bigger real world whales start coming in like private funds, banks and governments who can crush those exchanges in a heart beat.

They are allegedly doing the same with paper gold. It doesn't seem to make it any more or less secure. Besides, we only have open exchanges because they are still unregulated. Regulated exchanges will be less able to engage in such activity. That's when real world whales will fill the regulated exchanges through licensed brokerage firms.

TaunSew

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Well that comes down to scale. It's alleged the exchanges are already exchanging in fractional reserves and manipulating the price of BTC. Wait until the bigger real world whales start coming in like private funds, banks and governments who can crush those exchanges in a heart beat.

franky1

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Quote from: Hippos4ever on November 17, 2014, 05:27:18 PM

At least it (gold) is safer than trusting your banks, or PP am I rite?

cash under your matress is better than banks in some cases and also useful for some purposes. but for long term safety without risk of government intervention (inflation, austerity, taxation, asset freezing, and many other things.) gold is more secure, but bitcoin is even more secure. the only issue is the predictability of future value.(dont confuse third party removal security vs value/future wealth security)

gold is predictable because its controlled by manipulation of government. but bitcoin is more fluid and people once seeing an exchange manipulating values. can simple ignore that exchange and build better ones.

bitcoin can be protected in soo many ways, either personally etched into metal, wrote on paper. stored on PC locally, stored on remote system. handed to local friend handed to remote friend. the idea's are endless

Bitcoin Magazine

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Bitcoin transactions have weight. So do gold bars. What's the differences?

Hippos4ever

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At least it (gold) is safer than trusting your banks, or PP am I rite?

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: Flashman on November 17, 2014, 01:18:49 PM

Quote from: cbeast on November 17, 2014, 11:25:00 AM

Bitcoins can protect some of your wealth even when you are wrongfully judged by an imperfect society.

Ask Ulbricht how that went.

Ullbricht acted like a moron in not protecting all those coins properly.
Like the old saying goes: "a fool and his money are soon parted."

Rannasha

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Quote from: countryfree on November 17, 2014, 02:59:54 PM

while I've already lost loads of data because of hard disk failures.

If only there was a way to preemptively make a copy of your data so you can restore it when a disk fails...

franky1

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the federal reserve needs a building costing millions to make, needs its own police force, accountants and many personnel. to transport it the fed needs expensive bulletproof transport.

... bitcoin only needs a pen and paper to write down a long sequence of characters and then divide it up/rearrange it into a form only the holders mind can re-organize.

Billbags

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Brainwashed this way

Quote from: countryfree on November 17, 2014, 02:59:54 PM

Sorry, but I think gold is much more secure.
I have a deposit box in a bank which has never been robbed, while I've already lost loads of data because of hard disk failures.

That box of gold can be seized by authorities at any time. Remember over the last 2 years bank accounts and safety deposit boxes have been being seized in large numbers for suspension of money laundering(for no reason other than to ask you where your money came from). It cost $20,000 to get your money/gold back if you can prove where every penny came from. Most of the accounts had $30,000 or more in them and are owned by "mom & pop" businesses, but the Feds are making a lot of money seizing accounts of innocent people right now.

Topic: Compared to Bitcoin, gold doesn't seem real... - page 5. (Read 7506 times)