Topic: Gold exist 1000+ years. while bitcoins exist 10 years. - page 4. (Read 24883 times)
It's not fair of comparing Gold with Bitcoin, you know Gold has the vast acceptability at every corner of the globe, the credibility of also gold has much bigger than Bitcoin because of having real value, gold is the most used metal since the very early age of human life. and Bitcoin is just 10years old so it still a newborn in comparison to the gold, but when you relate the price rising of both then Bitcoin has a positive sign, it's a potential much than Gold, but you can't yet reach the position where gold exists, but I believe Bitcoin will have a more value and acceptability around the world when people will realize its facts and factors.
The increases in transaction volume and the emergence of new exchanges proves that more and more people understand what bitcoin is. Because when we understand something, we invest not only speculate.
There has been a lot of FUD and negative propaganda directed against Bitcoin for the past several months. Despite that, Bitcoin managed to survive and thrive. When the exchange rates fell from $20,000 in December 2017 to $3,000 by March 2019, a lot many of the mainstream analysts were quick to predict doom for Bitcoin. But they were proved wrong (just like what happened in 2015). The mainstream media still remains openly hostile to Bitcoin, but the recent price changes prove that their stance doesn't really matter.
The data from the global cryptocurrency exchanges also confirm that interest in Bitcoin remains strong. Most of the exchanges have witnessed close to 100% increase in the number of users during the past 12 months. And this data is likely to be accurate, as almost all the exchanges have made KYC mandatory. The basics remain strong for Bitcoin. The number of users are increasing and the transaction volume is rising. What we need now is more mainstream investors in the Bitcoin domain.
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purchasing power of gold has remained more or less stable
Pricedingold com is a good site for that. Tracking the price in gold is not especially extreme a consideration, we could call it 1970 US dollars price back when it had a fix to gold and ever since then prices have drifted because dollar itself had no value known for sure but invariably the price of gold is rising every decade. The problem people have is they dont want a price over ten years but everyday and in that respect gold is too long term for many.
Anyone who saves a pension should have at least some gold, that logic is lost to modern society and by the time we regain that common knowledge in our society the price of gold will be far higher and maybe too many will like gold at that point when the utility and growth available in others assets is higher.
What you have seen till now is just a teaser. The real picture is yet to come. There was a news article published today, which claimed that there has been an 83% increase in the number of US based cryptocurrency exchange users. Despite adverse circumstances, the user-base is growing at a rapid pace. Very soon, it will convert in to higher demand and thereby higher exchange rates.
From the history of bartering to the present, we have observed that transaction tools have evolved. The millennial era with the advancement of technology gave birth to a new medium of exchange, namely bitcoin or cryptocurrency.
It is the timing now because its millennial generation is characterized by its young people being literate in digital technology. Bitcoin users have a consensus that bitcoin has value, this consensus determines the rise in value of bitcoin. Many assume that bitcoin will dominate in the future and be accepted by all parties, but in reality, the majority of governments prohibit bitcoin as a legal payment tool.
Seeing Bitcoin as an investment tool is different from seeing bitcoin as a medium of exchange. As a medium of exchange bitcoin has a blockchain facility that makes it easier for users than gold. but talk of gold safety does not need to be debated again. So comparing bitcoin with gold, it's like comparing apples with oranges.
The increases in transaction volume and the emergence of new exchanges proves that more and more people understand what bitcoin is. Because when we understand something, we invest not only speculate.
It's amazing to look back at how far Bitcoin has gone. Truly a "rags-to-riches" story if you consider how bitcoin started at $0 value and has reached $20,000. The idea behind it is simply genius and is testament to what human innovation and imagination can achieve.
It's almost for sure that in the near future more "upgrades" and enhancements to the bitcoin blockchain will drive the price/value even higher.
It's almost for sure that in the near future more "upgrades" and enhancements to the bitcoin blockchain will drive the price/value even higher.
What you have seen till now is just a teaser. The real picture is yet to come. There was a news article published today, which claimed that there has been an 83% increase in the number of US based cryptocurrency exchange users. Despite adverse circumstances, the user-base is growing at a rapid pace. Very soon, it will convert in to higher demand and thereby higher exchange rates.
Gold exist for over a 1000+ years maybe? Bitcoin only 10 years. Also the internet existed about 25+ years. Bitcoin price is higher than gold by over 200%. I think the value of Bitcoin is going to sky rocket once again. When technology gets more advance n the Bitcoin system upgrades. Just another speculation.
You can't compare how long it's been there, gold and bitcoin are in different times. You say the value of bitcoin is higher? You compare one gram of gold with 1 bitcoin, what if I go back, one gram of gold with 1 satoshi. Bitcoin value depends on market demand, then how is the future of 1000+ bitcoin in the future? This is still a mystery. I'm sure experts will also find it difficult to predict the value of bitcoin in the next 10 years.
Gold exist for over a 1000+ years maybe? Bitcoin only 10 years. Also the internet existed about 25+ years. Bitcoin price is higher than gold by over 200%. I think the value of Bitcoin is going to sky rocket once again. When technology gets more advance n the Bitcoin system upgrades. Just another speculation.
It's amazing to look back at how far Bitcoin has gone. Truly a "rags-to-riches" story if you consider how bitcoin started at $0 value and has reached $20,000. The idea behind it is simply genius and is testament to what human innovation and imagination can achieve.
It's almost for sure that in the near future more "upgrades" and enhancements to the bitcoin blockchain will drive the price/value even higher.
Gold is a good investment because it has a store value that keep increasing over time. Bitcoin is also like that even it is only created 10 years before. There is a deflation that happening in bitcoin and it attracts other people because of its potential in the market.
Check the charts for gold, and you will find that the purchasing power of gold has remained more or less stable. It has not increased, and it has not gone down. And that is the reason why a lot of us treat gold as a store of value. On the other hand, the purchasing power of Bitcoin has increased by more than a million times ever since it was created in 2009. And in the future also, it is likely to go up, in sync with the increase in the number of users. The prices will be stabilized only when the majority of the world population starts using BTC. Until then, both the exchange rate and the purchasing power will continue to increase.
Gold will always have value no matter how big crypto gets. Gold is a metal that can be shaped into anything and is also used for circuits, etc. gold can’t be destroyed where as crypto currency can be lost forever. i don't believe they are competing uses. gold is no longer used as currency, although because of its history it is still a part of central and international banking and finance as a supra-national currency, the currency of last resort, held in central banks the world over. it has gone from kinda stable domestic and global currency to insurance and final currency.
Bitcoin is analogous to gold but is supposed to be monetized and used for payments. it's supposed to actually circulate and be used. if it never achieves this i see no reason for it to stick around, particularly if another currency does achieve this. it cannot evolve into gold as it sits today as an insurance and mostly store of value only, because it lacks thousands of years of monetary history, and there's really not much of a need or use case for an electronic counterpart of gold's current use case.
Bitcoin is analogous to gold but is supposed to be monetized and used for payments. it's supposed to actually circulate and be used. if it never achieves this i see no reason for it to stick around, particularly if another currency does achieve this. it cannot evolve into gold as it sits today as an insurance and mostly store of value only, because it lacks thousands of years of monetary history, and there's really not much of a need or use case for an electronic counterpart of gold's current use case.
Gold is a good investment because it has a store value that keep increasing over time. Bitcoin is also like that even it is only created 10 years before. There is a deflation that happening in bitcoin and it attracts other people because of its potential in the market.
Gold exist for over a 1000+ years maybe? Bitcoin only 10 years. Also the internet existed about 25+ years. Bitcoin price is higher than gold by over 200%. I think the value of Bitcoin is going to sky rocket once again. When technology gets more advance n the Bitcoin system upgrades. Just another speculation.
Comparing the value of Gold and Bitcoin isn't directly be possible. In my opinion, in bitcoin, we can say that they have price based on 1 BTC, but in terms of gold, there is no standard physical quantity of measure to determine how much gold will be. But going back to the topic, bitcoin do really serves as the main currency on the internet the same goes to phyisical currency, why not fiat? Because gold have a same characteristics like bitcoin that can be used in every part of the world.
This is the mistake that is being made by so many people around here. Earlier I had seen a thread, where the OP was claiming that gold has been overtaken by Bitcoin. The justification given by him was laughable. He was claiming that 1 Bitcoin is now worth more than 1 ounce of gold and this shows that now Bitcoin is now more valuable than gold.
And how can we make comparison like that? 1 oz of gold is not equal to one Bitcoin. Both are entirely different units. For making comparison, you can't use two different units for two different assets. If you really want to compare gold with Bitcoin, then you should compare the market capitalization. That is the only unit which can be used for both assets. And as of now, this is how the comparison stands:
Gold: market capitalization of $8 trillion
Bitcoin: market capitalization of $173 billion
And how can we make comparison like that? 1 oz of gold is not equal to one Bitcoin. Both are entirely different units. For making comparison, you can't use two different units for two different assets. If you really want to compare gold with Bitcoin, then you should compare the market capitalization. That is the only unit which can be used for both assets. And as of now, this is how the comparison stands:
Gold: market capitalization of $8 trillion
Bitcoin: market capitalization of $173 billion
in my opinion we cannot compare the two. because gold and bitcoin are different. gold has long been known as a store of good value. and bitcon is digital money that has high fluctuations. because of this fluctuation bitcoin is an investment tool. gold can also be an investment tool but an increase in the value of gold will not be possible to rival the increase in bitcoin. so that bitcoin investment is better than gold.
Correct buddy, Because they are in different aspect. Gold is a physical asset that can be stored and sell in the whole world, you need first to know where country should be sell that, while bitcoin is not yet introduce in the whole world and also it is not yet legal in other country. They both have a great value and good for investment. in my opinion we cannot compare the two. because gold and bitcoin are different. gold has long been known as a store of good value. and bitcon is digital money that has high fluctuations. because of this fluctuation bitcoin is an investment tool. gold can also be an investment tool but an increase in the value of gold will not be possible to rival the increase in bitcoin. so that bitcoin investment is better than gold.
Indeed. We should not compare precious metals like gold and silver to bitcoin. We all know that both of them are useful for investment and valuable, but they have a big difference because gold is tangible and commodity, while bitcoin is a virtual currency and a bit more elusive. 
in my opinion we cannot compare the two. because gold and bitcoin are different. gold has long been known as a store of good value. and bitcon is digital money that has high fluctuations. because of this fluctuation bitcoin is an investment tool. gold can also be an investment tool but an increase in the value of gold will not be possible to rival the increase in bitcoin. so that bitcoin investment is better than gold.
of course, gold and bitcoin are different. bitcoin is only available at the moment and hasn't been there for a long time, even gold is also older than fiat money. in terms of price, gold is also inferior to some current technology. Well, I just feel that comparing the heyday of gold with bitcoin is quite strange. however gold still exists and is needed to this day.
I agree with you. Gold, besides having an added value due to its rarity, still has several purposes in medicine, technology and mechanics and etc. (what sets it apart from btc). Moreover it is finite so probably in the near future the price of this could rise staggeringly.
of course, gold and bitcoin are different. bitcoin is only available at the moment and hasn't been there for a long time, even gold is also older than fiat money. in terms of price, gold is also inferior to some current technology. Well, I just feel that comparing the heyday of gold with bitcoin is quite strange. however gold still exists and is needed to this day.
I agree with you. Gold, besides having an added value due to its rarity, still has several purposes in medicine, technology and mechanics and etc. (what sets it apart from btc). Moreover it is finite so probably in the near future the price of this could rise staggeringly.
Gold have been payment way for dinar and dirham coin last one hundred years and now gold still exist become investment assets, gold never get inflation and back to lower price make many people like for investing money in gold. Bitcoin maybe can exist for ten years but how bitcoin price growing up, if bitcoin always lower price many investor left bitcoin and back to invest with gold and property investment.
Gold and bitcoin investment instruments are different. I use gold to protect my wealth from inflation and to invest in cryptocurrency my goal is profit. I invest in bitcoin in particular to get profit later when it meets the target I want. this is my opinion regarding gold investment and bitcoin of course, gold and bitcoin are different. bitcoin is only available at the moment and hasn't been there for a long time, even gold is also older than fiat money. in terms of price, gold is also inferior to some current technology. Well, I just feel that comparing the heyday of gold with bitcoin is quite strange. however gold still exists and is needed to this day.
I agree with you. Gold, besides having an added value due to its rarity, still has several purposes in medicine, technology and mechanics and etc. (what sets it apart from btc). Moreover it is finite so probably in the near future the price of this could rise staggeringly.
of course, gold and bitcoin are different. bitcoin is only available at the moment and hasn't been there for a long time, even gold is also older than fiat money. in terms of price, gold is also inferior to some current technology. Well, I just feel that comparing the heyday of gold with bitcoin is quite strange. however gold still exists and is needed to this day.
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