Topic: Gold exist 1000+ years. while bitcoins exist 10 years. - page 7. (Read 24885 times)

 I don"t see to much sense to compering gold price to bitcoin price.Talking about bitcoin replacing gold is the same like bitcoin is replacing fiat money.If anybody think that Central Banks will buy bitcoin and hold bitcoin like a his reserve that he is wrong.Enough to remember dump from 20K to 3K
There are also some question to be answered.What after last bitcoin will be mined
I also think and i also wants bitcoin to be alternative not any  replacement .If you want bitcoin to be included in current financial system then be ready for very hard regulations

I partially agree with this opinion. Bitcoin is the technology of the future and it has advanced so much in just 10 years. Bitcoin also seems to be more advantageous than gold with its untraceable and many other features. If one day more advanced technology than the blockchain does not emerge, bitcoin is the currency of the future.

Empires have risen and fallen before.   Go back a hundred years ago and it was the British empire, the largest that ever existed and to trade internationally every bank made sure to hold Sterling currency as payment for goods traded.    This idea is foreign to us now as the world has changed so much, UK has not disappeared but its far away from the defacto world currency that it once was at its peak empire expansion.  The amount of sterling held globally now is maybe 7% or less compared to US dollar which can be over 50% or completely duplicated at 100% by some banks in a fixed ratio.
    We are at a peak for the current system and it will change radically and as you say above the top countries in trading purchasing power are very likely to change.   Gold in respect of that will likely not change especially, it has never disappeared and behind every FIAT currency was always at least some gold as backing for the notes issued.  
    We used to keep far more rigid standards globally because of the fear of collapsed economies, failed trade and starving populations out of work and unable to restart economic progress necessary to feed the many poor every country has.  If are wondering how gold changes now it doesnt, all that changes is the price reflected in the value we respect gold by.   At present debt and notes are valued highly, that will change as gold is more often used in great proportion for trade as too alternatives like crypto or competing FIAT currency to the US dollar debt, some FIAT is backed by actual assets not promises made.

the world won't come back to the gold standard. because that would supposed to kick off current top5 countries off their places. gold can't be printed as dollars or euros.
and that means us and eurozone can not inflate their fiat base and GDP. 
us never let the control go

Bitcoin at the moment isn't still widely accepted by everyone as a means of payment or regards it as the same level as Gold, mostly people feel that way because it's not tangible and others because they are technologically savvy to grasp the whole thing but with this current generation,  I believe that Bitcoins has paved the way for the crypto revolution and it has come to stay since this generation who are the future have accepted it.

They have already said it, Bitcoin cannot be compared to gold, gold has a very large history, it represents the solution for countries in crisis, it is very valuable in wars, in ancient times it was the only form of payment, it has many advantages and it is taken into account as one of the biggest guarantees in an economy, bitcoin, it is with blockchain based technology and its concept is totally different.

The only thing that both seem to be is that they represent money, and the advantage of Bitcoin over gold is that it can be easily transferable from one place to anywhere in the world in seconds and its transaction tax is not so high, instead of gold if You must have permits and pay high taxes for your transfer from one place to another.

Some people want it physically, some don't. I think it's a matter of preference. Gold can also be used in the products the we use on a daily basis. No one can predict what will happen to bitcoin in the upcoming years but I do believe that it is worth investing for.

You can't compare the value of bitcoin to that of gold.
Price depends upon supply and demand. Gold is might be limited but not to the level of Bitcoin. There are only 21 million Bitcoin which means it has inbuilt deflation and it will remain the same and hence, the price growth.
Added to that BTC is also a currency which enables real-time fund transfer. Gold has on the other hand, has totally different use case. They are not comparable at all.
Regarding Bitcoin price sky rocketing, it is still in its infancy stage. There's a lot of potential still lying.

Gold may be old fashioned. But it is still very effective as a store of value. You can compare the United States Dollar with gold. During the past 100 years, the purchasing power of USD has declined by more than 97%. On the other hand, the purchasing power of gold has remained stable during all these years and it is still being used by billions of individuals around the world to store their savings.

both are just backed by supply and demand, Gold have limited supply same with bitcoin. those two are great assets no need to compare it I think. Let's just accept that bitcoin and gold are two great asset, but in this today's world bitcoin is inline with technology so I think using bitcoin is more applicable in our today's society.

Mankind has been using gold for more than one thousand years and will still use it for a very long time. Compared to gold, cryptocurrency exists only a few moments. Moreover, it is used so far by a very small number of the population of our planet. Therefore, it is too early to compare these two financial assets. We do not yet know how cryptocurrency will behave in the future. There are great hopes, but only time will tell how much they will be justified.

Compared to now where massive amounts of FIAT far in excess of GDP growth are being produced, gold is quite different.   I think the benchmark because GDP is unreliable and prone to politics, is to look at population growth.   If we could measure gold in the world per person that might be the measure of whether its inflationary or deflationary or by some magical means perfectly balanced.   
    Prices will fall when measured in gold I think, we dont have enough growth overall and there is alot of waste still occurring that could be avoided and obviously society is not always productive.   I certainly expect gold is keep rising every decade because of continuing weakness and debt based spending, again this isnt productive enterprise or competitive and efficient like economies should be so its unlikely we see the rise of value in various nations currencies in comparison. 

Gold is for holding many years, Bitcoin is to transact in minutes with lower spreads.   These two events in a person financial history are not comparing and the two assets are not close in competing.   The only reason the prices are likely to head in the same direction always is that dollar is a denominator in the price and also a monetary alternative to gold or Bitcoin.


I'am certain both gold and Bitcoin will grow as both receive more regular usage, neither will stop the other from being used even simultaneously and Gold will never have the tiny costs that Bitcoin can bring to people dealing tiny amounts.


With Gold I must trust in a vault somewhere with human error to keep a correct account, I must believe the government of that area do not try to seize my gold and declare it theirs to keep.   I have risks physically and centralised to reliance on trust of that system.  There any many books of account kept that register my holding but I will never see, I must keep blind faith the accounting will be good and true.
     With Bitcoin Im relieved of my physical trust problem, its confirmed by many equal partners in a network spread around the world.    I only have to rely on an open circle of reliance by all involved in the network to have an ongoing belief and mutual reliance on each other to maintain integrity, the breaking of trust by one or even a few does diminish this asset.    This is possibly the first time in history this has ever been possible, Bitcoin in unique and peerless in its level of security vs any technological threat hence the price it commands.

We are living in a technology where everything is fast paced and the world looks small now more than ever, and Bitcoin helps us to be connected and united, that is why the value is more than the value of gold, we have a gold rush in Bitcoin.

Both are different things and trust me shouldn't be compared at the same time.

Gold is something that is more of a jewelry choice .
Bitcoins is something that is more or so like the choice of investors and it's very different .
They both are poles apart and doesn't mean if something was discovered first , it's more valuable.
Just take for example gold and platinum...

ya time is the real reason that decide is bitcoin really wroth or it will be useless in the future . And the human resource that will decide it will they adopt bitcoin system for future payment nor it will be cashless sociecity . we can just wait and try to spread bitcoin to more people

the development of Bitcoin will be more powerful then the gold that's why it will be more popular in very quick time but I think the stability from the gold will not here in the Bitcoin investment that is the only e defect from the side of Bitcoin

in this case building community trust is an obstacle, especially the government. gold is trusted by all people in the world as valuables, while bitcoin is only 10 years old, and there are still minimal users. but we can see the achievement of bitcoin so far, which makes it valuable in the eyes of bitcoiners. with advanced technology, bitcoin is analogous to digital gold later

During the past few years, gold has seen a decline in interest from the investors. Gold imports have decreased in the two largest markets (India and China) and the prices haven't moved much despite the drop in South African mine production. IMO, the next bull rally for gold may happen only if a major global financial crisis occurs. And the chances of something like that happening looks very remote as of now. And gold is no longer the preferred "safe heaven investment". That honor has gone to the United States Treasury Bonds.

It doesn't matter if Gold existed for thousands of years. Comparing those two (Bitcoin and Gold) are far different from each other. The special ability of bitcoin is unique as it wasn't physical unlike gold. And the value of gold is not as same as bitcoin. It is better if we just focus on investment which we like the most. As for me, bitcoin gave me profitable results in my journey here since last year.