"Global wealth preservation" - page 2.

Hamza2424

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Quote from: DesmondHayes on March 24, 2024, 06:44:29 PM

In what ways do the historical narratives and cultural perceptions surrounding gold as a traditional store of value intersect with the emerging narrative and evolving cultural perception of Bitcoin as a digital store of value, and how might these intersections shape the future landscape of global wealth preservation?

Thank you for sharing your insights and perspectives!

Haha, first of all, this advance thanks seems nice,

Moving to the topic, Historical narratives hmm, Gold was and will be the most attention-seeking store of value for traditional investors, most retail investors store money in such means and Bitcoin is still unfamiliar to them.

I know there's a mass adoption and education related to Bitcoin covered in this cycle but still, somewhere we are lacking as the street person is not convinced haha, at least in underdeveloped countries like mine. I know there's a huge number already familiar with Bitcoin but still, there is a massive number that is uncovered.

kryptqnick

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Gold has been around for a very long time. It's a naturally occurring element, and humans have been working with it for thousands of years. It's physically present, nice and shiny. Gold has been considered valuable for a long time and is known as a safe investment. All of these traits give it an advantage over Bitcoin.
Digital stuff is generally relatively new, and to multiple generations of current adults there's still a sharp divide between the physical world as reality and the digital world as something very different, kind of not real. So, of course, it's hard for Bitcoin to compete against gold, as it's not something you can perceive with your senses, it's not a bright and shiny thing. But if digitalization continues and becomes an integral part of life for many future generations, I think Bitcoin's perception can change and it might catch up with gold or even surpass it eventually.

Blitzboy

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Bitcoin is the future of money, no doubt bout it. Gold got its history. But this is the 21st century. We need a currency thats built for this digital world. Bitcoin, with its decentralized system, its incredible security - thats what the smart money is going to be on. This isnt just another investment; its a whole new way to preserve wealth.

Sure, gold is pretty. You can hold it, feel its weight. But Bitcoin's speed, its digital nature, thats the stuff of the future. As more people figure this out, you're going to see a huge shift. And think about this in the big picture. Bitcoin gives you something gold never can: easy transfer, true privacy, all in a digital format. Thats the kind of freedom and control that are priceless in this day and age. Bitcoin isnt out to replace gold, but its here to change the game completely. This is how wealth will be handled in the future. Its obvious to me, and anyone with the best business sense should see it too

Marvell1

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Quote from: Die_empty on March 25, 2024, 05:05:44 AM

Quote from: Poker Player on March 24, 2024, 11:25:31 PM

They intersect in the sense that many see Bitcoin as an improved digital gold, so most things that gold can do, Bitcoin does better. Although there are things you can't use Bitcoin for, since it's not physical, you can't use it to make jewelry or have industrial applications. But in terms of preserving wealth, Bitcoin is better because it not only preserves it, it increases it.

Some of the points you gave about the uniqueness of Bitcoin are correct. Just want to add that the limited supply of Bitcoin is one of the factors that makes it better than gold. There are still great reserves of untapped gold in some countries but the maximum total supply of Bitcoin will always be 21 million.

Can bitcoin supply change if there is consensus among all miners and developers? I think it's entirely possible and just like humanity can find a new store of gold on the surface of the earth. In addition, gold is not only used as an asset but it is also used in a number of other industries and fields. Additionally, an asset having less supply does not guarantee that it is a better asset, it also depends on its demand. We should not deny that the demand for gold today is still very strong and bitcoin has not yet been able to surpass it. In the future, let's take time to answer everything and don't rush to confirm anything.

Gold and bitcoin are two completely different assets but it's hard to understand why people like to compare them.

btc78

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Quote from: Poker Player on March 24, 2024, 11:25:31 PM

They intersect in the sense that many see Bitcoin as an improved digital gold, so most things that gold can do, Bitcoin does better. Although there are things you can't use Bitcoin for, since it's not physical, you can't use it to make jewelry or have industrial applications. But in terms of preserving wealth, Bitcoin is better because it not only preserves it, it increases it.

A huge factor why bitcoin is considered the better version of gold is basically its ability to be carried around without inconveniencing yourself. If I bring around a block of gold, I would have to think about storage and weight as opposed to bitcoin where no matter how much I own I can bring it anywhere. You can buy and sell it anywhere or any time of the day you would want to and in today’s age that has been the most important thing for a lot of people.

Die_empty

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Quote from: DesmondHayes on March 24, 2024, 06:44:29 PM

In what ways do the historical narratives and cultural perceptions surrounding gold as a traditional store of value intersect with the emerging narrative and evolving cultural perception of Bitcoin as a digital store of value, and how might these intersections shape the future landscape of global wealth preservation?

Thank you for sharing your insights and perspectives!

Bitcoin and gold will always be considered as a means of preserving wealth but I think the former will be more attractive to the youth because of its digital nature while the elderly will always see gold as the best option. The ease of storing and moving Bitcoin also makes it better than gold. Bitcoin doesn't need any special care to maintain its quality like gold and one can easily move from one place to another with his coin without any form of restrictions.

Quote from: Poker Player on March 24, 2024, 11:25:31 PM

They intersect in the sense that many see Bitcoin as an improved digital gold, so most things that gold can do, Bitcoin does better. Although there are things you can't use Bitcoin for, since it's not physical, you can't use it to make jewelry or have industrial applications. But in terms of preserving wealth, Bitcoin is better because it not only preserves it, it increases it.

Some of the points you gave about the uniqueness of Bitcoin are correct. Just want to add that the limited supply of Bitcoin is one of the factors that makes it better than gold. There are still great reserves of untapped gold in some countries but the maximum total supply of Bitcoin will always be 21 million.

Doan9269

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Quote from: DesmondHayes on March 24, 2024, 06:44:29 PM

In what ways do the historical narratives and cultural perceptions surrounding gold as a traditional store of value intersect with the emerging narrative and evolving cultural perception of Bitcoin as a digital store of value, and how might these intersections shape the future landscape of global wealth preservation?

Thank you for sharing your insights and perspectives!

Maybe we have to go less of being grammatic here and head up straight to the difference in what gold have from the use of bitcoin, by checking this alone on the internet you can have some answers to the question asked, also, we have already seen this been discussed over time, make use of the forum search button in case of next time.

Bitcoin is a digital decentralized currency, a means of payments and also a unit of store of value, a profitable investment and a decentralized asset, while gold is only a physical and tradition centralized asset, gold is scarce while bitcoin is not, gold appears in abundance supply yet not circulating while bitcoin has a limited supply, increasing in value and remain in circulation for use.

davis196

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Quote from: DesmondHayes on March 24, 2024, 06:44:29 PM

In what ways do the historical narratives and cultural perceptions surrounding gold as a traditional store of value intersect with the emerging narrative and evolving cultural perception of Bitcoin as a digital store of value, and how might these intersections shape the future landscape of global wealth preservation?

Thank you for sharing your insights and perspectives!

I don't see any intersection. Gold is a physical store of value, while Bitcoin is a digital store of value. There's no collision here. The investors could choose to invest in both gold and Bitcoin. Global wealth is growing not because of buying and hoarding gold and/or Bitcoin. The global wealth is growing because of capitalism. Capitalism is basically investing money into physical capital(buildings, machines, technologies, raw materials, etc.)>producing goods and services>selling them>getting profit and reinvesting that profit. I don't care about cultural perceptions and historical narratives. Maybe you should ask a historian or a sociologist about this subject. Grin

un_rank

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If you need a broad answer to that then you should do your own research with available resources that you can find. The short answer is that there is no direct correlation between both. Sure people come up with fancy phrase like "Bitcoin is the Digital Gold" and that sparks a comparison which the media feeds on.

- Jay -

Poker Player

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They intersect in the sense that many see Bitcoin as an improved digital gold, so most things that gold can do, Bitcoin does better. Although there are things you can't use Bitcoin for, since it's not physical, you can't use it to make jewelry or have industrial applications. But in terms of preserving wealth, Bitcoin is better because it not only preserves it, it increases it.

GreatArkansas

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Digital Gold, Scarcity, and Decentralization - these are the emerging narratives of Bitcoin which we can say it is unique as an asset.

Tangible Asset, Scarcity and Durability, and Universal Acceptance - This is for historical and cultural perceptions of Gold.

As we can see both have their advantages and uniqueness.

Store of value - both gold and Bitcoin can be used for this.

For me, the outlook for safeguarding global wealth in the future is expected to feature a mix o both conventional and digital assets.

DesmondHayes

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In what ways do the historical narratives and cultural perceptions surrounding gold as a traditional store of value intersect with the emerging narrative and evolving cultural perception of Bitcoin as a digital store of value, and how might these intersections shape the future landscape of global wealth preservation?

Thank you for sharing your insights and perspectives!

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