Friend: I like gold because you can run with your money if you have to

Mickeyb

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Move On !!!!!!

Quote from: unamis76 on November 11, 2015, 12:11:02 PM

I'm imagining that OP's friend running with a backpack and his arms full of gold bars! Easier to run with a sheet of paper... or a USB stick/SD card. Easier with a hard drive, even! Or a Trezor

Yes I prefer running with a Trezor than with a golden bar!

Also if Trezor is a problem, you can just remember your mnemonic seed of 12 words which isn't that hard and you are fine.

The only trouble with this if you get a memory loss, than you are roasted!

NorrisK

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Quote from: Kprawn on November 12, 2015, 09:53:52 AM

I have a encrypted digital backup of a Bitcoin address and private key stored somewhere on the internet. I can leave my country of origin without a single piece of paper on me or a

memory stick, create a online wallet or use one I already created .... access the backup, sweep the content of that "paper wallet" and start in a new country with some dollars in

my pocket, until I can find a job. {I do not store lots of bitcoin online, so I have to do it that way.} Bitcoin gives you some freedom to make a new start. Wink

.... I do not carry

gold and silver bars through custom... when things turn hostile in your country. Angry

In the eu the borders are open, so it would be quite easy to carry gold or silver across the border Wink

Other than that, ofcourse it is much easier to do so with a USB stick or a sheet of paper, or even an encrypted backup in a cloud service.

Kprawn

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I have a encrypted digital backup of a Bitcoin address and private key stored somewhere on the internet. I can leave my country of origin without a single piece of paper on me or a

memory stick, create a online wallet or use one I already created .... access the backup, sweep the content of that "paper wallet" and start in a new country with some dollars in

my pocket, until I can find a job. {I do not store lots of bitcoin online, so I have to do it that way.} Bitcoin gives you some freedom to make a new start. Wink

.... I do not carry

gold and silver bars through custom... when things turn hostile in your country. Angry

ShetKid

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Quote from: okae on November 12, 2015, 07:50:23 AM

Quote from: spazzdla on November 11, 2015, 11:24:14 AM

*Looks at friend*, OH really?

Friend: LOL GOOD POINT (no words needed he knew what I was getting at) You can go anywhere and no one knows you have anything.

Yes yes I can.

During economic hardships the gov steals from those that where smart enough to save to help the idiots that just kept going out to bars on debt. Save yourself from this theft.

Really? i think that your friend never do that or dont think on it very well xD try to travel around the world with 1kg of gold and tell me if you can go anywhere without problems... Tongue

Btw as @bitbaby said, there is no needed to compare bitcoin vs gold, both has his advantages and disadvantages, but if you let me choose one of them, i will go for bitcoin Tongue

ANother way or looking at it would be that if person wants retention on value. With bitcoin he would be taking the risk of losing money to the volatility it brings along.

zencomp

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★ Nakedbitcoins.com ★

Quote from: ?? on ??

Quote from: unamis76 on November 11, 2015, 12:11:02 PM

I'm imagining that OP's friend running with a backpack and his arms full of gold bars! Easier to run with a sheet of paper... or a USB stick/SD card. Easier with a hard drive, even! Or a Trezor

Government, bank or theft will take away his gold. So, it's bad choice.
Even with bitcoin, government might check his belongings & find about his bitcoin too. So, it's still not best option.

hahhahaa, how will government check his belongings and find his bitcoin, for this one the official should be having knowledge about bitcoin, then only he will come to know about it, if you want to reply reply sensibly. about gold if you tell that is ok because that is in physical so it can be theft.

Carlton Banks

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In this instance, the real difference between gold and bitcoin is tangibility.

Someone trying to steal your gold from you just needs to use force. That means all they really need to take it is enough people to outnumber whoever has the gold.

With bitcoin, there's no point in using force as the means of the theft, it simply isn't possible. The only option a prospective bitcoin thief has is to use force to coerce the private key from their victim, which of course doesn't involve the same degree of certainty in the outcome, and could potentially take alot longer even if it did work. The worst case scenario for the thief in this circumstance is alot worse; possibility of days of time wasted, possibility of facing being charged with even more serious crimes also (serious assault, kidnap, possibly murder or 2nd degree murder), and to top that all off, the possibility of risking those consequences without getting a single satoshi in BTC.

BTCBinary

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Quote from: spazzdla on November 11, 2015, 11:24:14 AM

*Looks at friend*, OH really?

Friend: LOL GOOD POINT (no words needed he knew what I was getting at) You can go anywhere and no one knows you have anything.

Yes yes I can.

During economic hardships the gov steals from those that where smart enough to save to help the idiots that just kept going out to bars on debt. Save yourself from this theft.

Yes you can do that with gold; at least if you don't own much gold because you if you had a good quantity of gold it would be very difficult for you to move with all this gold. You would most likely end up being robbed. Good is a good currncy but when it comes to transporability, gold stays far behind bitcoin.

Bitcoin has all these characteristics:

To Value common assets
Constant utility
Low cost of preservation
Transportability
Divisibility
High market value in relation to volume and weight
Recognisability
Resistance to counterfeiting

While gold only has these characteristics:

Constant utility
Low cost of preservation \ high cost of keeping it secure
Divisibility
High market value in relation to volume and weight
Recognisability
Resistance to counterfeiting

So, While money is made out of a debt, Gold is valued by the scarcity much like bitcoin. The difference is that Bitcoin is a much more advanced and perfect means of exchange than Gold.

okae

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northern exposure

Quote from: spazzdla on November 11, 2015, 11:24:14 AM

*Looks at friend*, OH really?

Friend: LOL GOOD POINT (no words needed he knew what I was getting at) You can go anywhere and no one knows you have anything.

Yes yes I can.

During economic hardships the gov steals from those that where smart enough to save to help the idiots that just kept going out to bars on debt. Save yourself from this theft.

Really? i think that your friend never do that or dont think on it very well xD try to travel around the world with 1kg of gold and tell me if you can go anywhere without problems... Tongue

Btw as @bitbaby said, there is no needed to compare bitcoin vs gold, both has his advantages and disadvantages, but if you let me choose one of them, i will go for bitcoin Tongue

ShetKid

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Quote from: bitbaby on November 12, 2015, 12:24:09 AM

There is no need to compare a digital currency with a metal, don't know why people are always comparing bitcoins to gold, each have their own advantages and drawbacks and there is no point in arguing which is better. There is another thread on this in Economic section I think and it's an unending debate.

Depends on what aspect . Here it clearly makes sense where the friend wishes to run with gold as he thinks more value and less detectable. But if he knew about bitcoin, that woul not be the problem with even millions of dollars.

bitbaby

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There is no need to compare a digital currency with a metal, don't know why people are always comparing bitcoins to gold, each have their own advantages and drawbacks and there is no point in arguing which is better. There is another thread on this in Economic section I think and it's an unending debate.

unamis76

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I'm imagining that OP's friend running with a backpack and his arms full of gold bars! Easier to run with a sheet of paper... or a USB stick/SD card. Easier with a hard drive, even! Or a Trezor

Possum577

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Loose lips sink sigs!

Quote from: Blind Legs Parker on November 11, 2015, 12:03:11 PM

How could you know who has gold and who doesn't?
Or are you talking about gold registered at the banking system? If it's not, I don't see how anyone could know.
(I'm not sure that I understood your post, though: tacit understandings between you and your friend coupled with the absence of quotation marks in your post didn't help).

I think you're agreeing with the OP. He/she is also saying that gold has value because it doesn't require registration, an account, or a bitcoin wallet, and it's dense - much more value is stored in a much smaller space than fiat.

Bitcoin is portable to as soon as we lose access to the internet it because largely useless - very scary!

Blind Legs Parker

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How could you know who has gold and who doesn't?
Or are you talking about gold registered at the banking system? If it's not, I don't see how anyone could know.
(I'm not sure that I understood your post, though: tacit understandings between you and your friend coupled with the absence of quotation marks in your post didn't help).

spazzdla

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*Looks at friend*, OH really?

Friend: LOL GOOD POINT (no words needed he knew what I was getting at) You can go anywhere and no one knows you have anything.

Yes yes I can.

During economic hardships the gov steals from those that where smart enough to save to help the idiots that just kept going out to bars on debt. Save yourself from this theft.

Topic: Friend: I like gold because you can run with your money if you have to (Read 800 times)