Gold exist 1000+ years. while bitcoins exist 10 years. - page 5.

AicecreaME

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Quote from: ReiMomo on October 17, 2019, 04:30:07 PM

Absolutely. Gold exist a very long time ago. Even in 10000BC gold already exist and still exist until now. I think it's hard for bitcoin to reach gold since its values are volatile so it may rise or fall from time to time and 10 years' existence is not enough. Rather than gold that you can really assure to have a better profit in a long period of time because it is already proven and tested.

But why choosing among them, instead invest them all because they are all valuable stuff and they can make as your asset. Invest now and wait at the right time they will turn in to expensive.

Just so you guys know, there are no contest about bitcoin vs. gold, or fiat, it is just happens that bitcoin get on their nerves, so people began comparing it to one another, even though there are nothing beyond these immature arguments. Bitcoin was created not to embarrass the Government or other assets we have during the old days, the Government just took it to personal and concluded things about it, in the wrong way.

The only motive that Satoshi Nakamoto for creating bitcoin is to help all of us with his very wonderful creation that functions without any commands of someone who controls it, we're just too sensitive and scared to embrace such gorgeous technology.

ecnalubma

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Its different factors that drives demand of every different assets, The gold purely overhyped by the government for many centuries ago believed to be a safe haven for economic uncertainty. Bitcoin's demand is driven by by the public who are willing to escape the financial oppression.

suvo05

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Both of them are not at all comparable. Gold exists eternally, it's a part of the universe and our current technologies are somehow dependent on it. Whereas the existence of BTC is totally virtual. So the future of the existence of bitcoin will totally depend on demand and the acceptance of us. And if the demand/acceptance of the BTC increases(or at least not decrease ) in the future the price of the BTC will keep rising due to the algorithmic design, which made the total number of circulation of BTC, a finite number.

secretgirl

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You shouldn't equate gold and bitcoin. gold is an object made of metal which currently cannot be used as a means of payment. while bitcoin is a digital currency that can be used as a transaction tool anywhere and is very efficient, using existing technology and the internet. in my opinion you are not wise to equate bitcoin with gold, because there must be many differences between the two from any side. maybe the equation is just that, bitcoin and gold are valuable things that have value.

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Quote from: DeadCoin on October 19, 2019, 10:23:29 AM

Quote from: bitcoinsc on January 26, 2019, 08:54:31 PM

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.

Gold is said to be existing since 1320 B.C. Its value and longing for the same has not come down. As decades passed by, value to it has really increased. Even now, its suggested to be the best asset to hold. Yes Bitcoin, from the time (2009) it exists, it has created a demand for its own need and now many here do safer to have their assets as Bitcoin. However, Gold value would remain still as Bitcoin value is volatile.

It really depends on the investors if they want an aggressive type of investment or they want a slow moving investment or a moderate risk investment. For some investors, gold is boring because of its slow phase while bitcoin is a great investment because it is volatile and they can really make money in a short period of time. In my opinion, bitcoin is better than gold because it is advanced and it has a bigger potential compare to gold since gold just a metal.

DeadCoin

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Quote from: bitcoinsc on January 26, 2019, 08:54:31 PM

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.

Gold is said to be existing since 1320 B.C. Its value and longing for the same has not come down. As decades passed by, value to it has really increased. Even now, its suggested to be the best asset to hold. Yes Bitcoin, from the time (2009) it exists, it has created a demand for its own need and now many here do safer to have their assets as Bitcoin. However, Gold value would remain still as Bitcoin value is volatile.

xabre

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Quote from: talkbitcoin on January 27, 2019, 07:19:31 AM

you can not compare value of bitcoin with value of something like gold when they don't follow the same unit of measurement. it is like saying you are taller than 1 kilogram!
when you say value of bitcoin you are talking about value of 1.00000000 BTC and when you say value of gold you are saying value of 1 OZ of gold not 1 kilogram or 1 ingot, 1 grain, 1 troy ounce,... so first clarify why you are comparing the biggest unit of bitcoin (1 whole BTC) with smallest unit of gold and why aren't you using the smallest unit of bitcoin (1 satoshi) to do the comparison.

Gold have exist in long time but bitcoin just show to public last than four years, many people still do not know with bitcoin and only know with gold, but you can said gold is better than bitcoin because how bitcoin revolution price very year.

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Quote from: barabarian1 on October 17, 2019, 02:24:07 AM

gold has indeed existed since ancient times and until now gold has remained a good store of value. because the value of gold tends to be stable and always increases every year. but we can't equate bitcoin with gold as they are different. gold can only be used to store value but cannot be used as a means of payment. bitcoin can be used to store values and also as a means of payment. the value of gold is stable while the value of bitcoin is very volatile. of course as a bitcoin investment tool better than gold.

Bitcoin can be used as a mean of payment though, people in the ancient times are using gold to pay things like in saudi arabia in the ancient times. but now it's not effective anymore but it's still a good way to store value with its low volatility but it still has the volatility.
there are even some cryptos that are backed up by gold so it means that it can also be used to backup crypto so that you can use it for paying things. THe fact that it is a rare mineral will make it an even better payment system than plain paper money. but ofcourse if we compare the efficiency to digital payment it will lose.

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because the value of gold tends to be stable and always increases every year.

The point here is best understood while standing on your head, we all view things the wrong way round. The gold is an inert piece of metal, its quite rare and has specialised properties to it that in a majority match a good use as money, its fungible and reliable. The point I'm making is the properties of gold are constant, the price is secondary.
When gold price rises, it is the FIAT money losing value and every year they make more paper notes and every year the gold stays about the same as it was previously just inert solid metal and limited supply. Any amount of gold mined about matches the world population growth and we do have business growth and so there is a steady demand to store value, wealth earnt is desirable to retain overnight while we sleep and rest and in exchange across nations, over years until retirement and so on.
The comparison to Bitcoin would be again I would point to its uses not this price we are obsessed with, price is secondary and we will always be chasing our tails to guess its movement.

ReiMomo

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Absolutely. Gold exist a very long time ago. Even in 10000BC gold already exist and still exist until now. I think it's hard for bitcoin to reach gold since its values are volatile so it may rise or fall from time to time and 10 years' existence is not enough. Rather than gold that you can really assure to have a better profit in a long period of time because it is already proven and tested.

But why choosing among them, instead invest them all because they are all valuable stuff and they can make as your asset. Invest now and wait at the right time they will turn in to expensive.

barabarian1

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gold has indeed existed since ancient times and until now gold has remained a good store of value. because the value of gold tends to be stable and always increases every year. but we can't equate bitcoin with gold as they are different. gold can only be used to store value but cannot be used as a means of payment. bitcoin can be used to store values and also as a means of payment. the value of gold is stable while the value of bitcoin is very volatile. of course as a bitcoin investment tool better than gold.

cotton ball

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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.

bohr

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Quote from: Sithara007 on October 16, 2019, 10:42:29 AM

BTW, I don't really think that Bitcoin will survive up to 2140. 120 years is too long for a digital asset. For comparison, internet is less than 3 decades old. Until 1998, Google was not online. Technology is fast changing and you don't know what to expect after just 2-3 years. New technologies and innovations are revealed with every passing day. Sometime in the future, some technological innovation will be invented, which has the capability to replace BTC.

What you're saying is true since we do not know how long bitcoin will survive and there is the possibility that someone in the future is going to create something better than bitcoin, but you must also remember that bitcoin is a form of money, and money regardless of its form requires trust from the people, and in the case that a new coin was developed that was many times better than bitcoin that doesn't necessarily mean that bitcoin will disappear because people will still trust it.

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They charge fees for transactions, thats the incentive for mining. I presume it will equalise between the cost and amount the market is willing to pay to pass each transaction. It seems to be mostly decided by time to process that secure transaction so far. I usually dont care how long it takes really, but people who want it in a few minutes will be the ones that really decide how much is it worth paying.
There is some argument that the kind of bidding process that decides fees isnt live enough, its too much of a guessing game because it might have to wait till the next block if it doesnt quite get enough. Ideally we'd have a few ways to decide the fee, I dont really need weapons grade security for my coffee purchase. We surely can have a way to pay small amounts quite quickly and it doesnt matter, thats where I see progress as making the most difference not the giant things but the tiny things for the many small people and small transactions.

Sithara007

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Quote from: yoseph on October 16, 2019, 02:26:53 AM

I am waiting to see what might happen when all the 21M bitcoins that satoshi created gets finished only then we will know whether bitcoins can stand the test of time. I wonder what the miners who are very much integral to bitcoin network do, will they jump to mining another coin?

LOL.. really?

The last coins will be mined sometime in 2140 (as per the current algorithm). That is more that 120 years from now, and I don't know whether you really want to wait for that long. If you want to know whether Bitcoin will be used by the majority of the world population, then you may have to wait for another 5-10 years max. By then the future of Bitcoin will be clear.

BTW, I don't really think that Bitcoin will survive up to 2140. 120 years is too long for a digital asset. For comparison, internet is less than 3 decades old. Until 1998, Google was not online. Technology is fast changing and you don't know what to expect after just 2-3 years. New technologies and innovations are revealed with every passing day. Sometime in the future, some technological innovation will be invented, which has the capability to replace BTC.

jmigdlc99

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Quote from: bitcoinsc on January 26, 2019, 08:54:31 PM

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 inherently two different things with gold and bitcoin but i do see value in your prediction. Bitcoin surely has potential to change the world and that is why it has value and will continue to increase in value. Mass adoption is growing steadily year by year while supply is decreasing slowly over time.

It's no surprise if we hit a new all time high with the upcoming halvening.

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Quote from: Dhoe on October 16, 2019, 01:12:16 AM

Quote from: cotton ball on October 15, 2019, 10:26:12 PM

Gold invest by many people and bitcoin only invest by some one know with bitcoin, population of bitcoin investment only 0.5% for each country in the world and for gold more than 40% people save and make gold as their investment, Bank use gold as investment too because gold less risk with lower price than use bitcoin with big risk price down, inside with many people do not know whit bitcoin investment less education how to invest with crypto.

That's because Bitcoin is still young while gold has been around for thousands of years ago, so people's knowledge about gold is good enough, while for Bitcoin there are still many people Who do not know very well about the world of cryptocurrency, so people prefer to save their assets in gold.

Abosolutely correct! Gold has proven it's usage thousand years ago that is why people acknowledge it but on the other hand Bitcoin is still on it's early stage wherein people who doesn't know anything about it are still discovering it's uses and value. It could take a lot of years for the mass adoption but the good part of it, is we got exposed already in Bitcoin that we could use as advantage in the future when Bitcoin's worth is fully realize across the globe.

yoseph

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I am waiting to see what might happen when all the 21M bitcoins that satoshi created gets finished only then we will know whether bitcoins can stand the test of time. I wonder what the miners who are very much integral to bitcoin network do, will they jump to mining another coin?

Dhoe

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Quote from: cotton ball on October 15, 2019, 10:26:12 PM

Gold invest by many people and bitcoin only invest by some one know with bitcoin, population of bitcoin investment only 0.5% for each country in the world and for gold more than 40% people save and make gold as their investment, Bank use gold as investment too because gold less risk with lower price than use bitcoin with big risk price down, inside with many people do not know whit bitcoin investment less education how to invest with crypto.

That's because Bitcoin is still young while gold has been around for thousands of years ago, so people's knowledge about gold is good enough, while for Bitcoin there are still many people Who do not know very well about the world of cryptocurrency, so people prefer to save their assets in gold.

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Gold can exist more than 1000 years, while bitcoin exist ten years? I think bitcoin digital currency payment when many companies adopt bitcoin while make bitcoin exist more than ten year, if many company have left and bitcoin price down just take few years later, gold is investment kinds have limited supply always use by investor, bank and many companies become gold as collection or investment assets can be exist more than 1000 years.

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