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 exists as a value and means of payment for more than several millennia, and Bitcoin is only ten years old. Gold will exist throughout the development of mankind. With regard to Bitcoin, there is no such certainty. How long can a cryptocurrency exist, probably, the next generations will be able to say. Cryptocurrency has its merits and its shortcomings and in this regard, it is contradictory perceived by the states. 
Topic: Gold exist 1000+ years. while bitcoins exist 10 years. - page 8. (Read 24885 times)
There's always this comparison between gold and bitcoin, whether bitcoin is better than gold as a storage of value, that bitcoin will be the future currency and that it will replace fiat like how fiat replaced gold and blahblahblah. Can't you just people stop comparing gold and bitcoin, or any other things to bitcoin. Bitcoin is different from gold in its own better way just like how gold differs from bitcoin in its own better way.
Gold has been used and still in used as a store of value for thousands of years until now. And during those years, it has proven to us that it will never be out in the options as a store of value just like what we see bitcoin is now. Although technology is upgrading as well as bitcoins popularity gains more attention, that doesn't mean that bitcoin will ever replace gold. There will always be some people who will see gold's potential as a better choice than bitcoin, because these two things have different works and value. Let's accept that fact and stop comparing two things not worth comparing.
Gold has been used and still in used as a store of value for thousands of years until now. And during those years, it has proven to us that it will never be out in the options as a store of value just like what we see bitcoin is now. Although technology is upgrading as well as bitcoins popularity gains more attention, that doesn't mean that bitcoin will ever replace gold. There will always be some people who will see gold's potential as a better choice than bitcoin, because these two things have different works and value. Let's accept that fact and stop comparing two things not worth comparing.
That's right, gold has been around for quite a long time and even now I don't know for sure when the gold was found and this is back to bitcoin which is still very new but even though bitcon is more expensive than gold but also more risky than gold, bitcoin has a price which is very volatile so that it is difficult to be accepted by most people but gold is more stable and much in demand by most people
I think that this is not the way to treat Bitcoin and gold, comparing them and getting biased results. As an example, I can say a few words in order to understand what I am talking about. In our world in some countries there is a huge problem with water and food. People do not have what to drink and what to eat. In those countries, these products are worth their weight in gold, and in our country, for example, water costs a penny.
Why people still like to compare gold and bitcoin will stay enigma for me. It was interesting in the beginning, but now it`s boring, cause these two can`t be compared. Gold is a rock, bitcoin is entire network that connects whole world. This is evolution of money, denying it will not lead us anywhere, compare it with past has no sense cause crypto is something totally different from everything we had.
You are 100% right.That's why, if we want to compare Bitcoin and Gold, it makes only sense if we compare Bitcoin with gold-backed cryptocoins
I don't understand the people going all in on bitcoin, doesn't make sense unless you are a high risk gambler. Gold usually doesn't outperform stocks but it is a good hedge in case of a crash. On a side note, don't forget that more gold gets mined every year so it is not really deflationary.
Why people still like to compare gold and bitcoin will stay enigma for me. It was interesting in the beginning, but now it`s boring, cause these two can`t be compared. Gold is a rock, bitcoin is entire network that connects whole world. This is evolution of money, denying it will not lead us anywhere, compare it with past has no sense cause crypto is something totally different from everything we had.
Gold is not a rock fool, it is a metal LOL. You do realize it is actually impossible for bitcoin to exist without gold right? You seem like someone that's onm the verge of losing a lot of money due to not understanding what your talking about.
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Yeah, I saw that this week. Now think about this:
Several countries have been buying gold massively the past years/months, (Russia, China, or Germany requesting to get back its gold stocked in France, or Italy trying too) even the IFM. Right?
https://sputniknews.com/business/201903301073683758-russia-gold-buy-up-continues/
https://www.bloomberg.com/news/articles/2019-06-10/china-snaps-up-more-gold-in-six-month-spree-as-tensions-escalate
Now read this quote from Mark Mobius
Quote
"Interest rates are falling, especially in Europe," he said, quoted by the news agency. "What is the meaning of maintaining the euro when you get a negative rate? You might as well put it in gold, because gold is a much better currency.
(Source, not in EN, sorry)This is so true, and that's why gold will probably continue to increase shortly
Big rise in gold recently in almost any currency but utility and convenience says both crypto and gold will continue on separate paths, covering different objectives and audiences
Crypto will always have a use beyond gold as it is not tied to the physical and people who are global citizens with skills usable in any country will want to be part of that wealth able to used anywhere even without perfect personal freedom.
GOld carries with it a security risk and requirement for some personal freedom to at least be able to own possessions. Both have uses to them that will continue a decade into the future or more I think. Gold is more central and a counter to FIAT debt and crypto is more transaction and free use, its value may vary but it is always liquid. Both should very useful for common people, which means both do well I think
Crypto will always have a use beyond gold as it is not tied to the physical and people who are global citizens with skills usable in any country will want to be part of that wealth able to used anywhere even without perfect personal freedom.
GOld carries with it a security risk and requirement for some personal freedom to at least be able to own possessions. Both have uses to them that will continue a decade into the future or more I think. Gold is more central and a counter to FIAT debt and crypto is more transaction and free use, its value may vary but it is always liquid. Both should very useful for common people, which means both do well I think
Gold and bitcoin is different currency to compare. Gold is a currency for safe-haven to protect economy from inflation, so people around world trusted with gold than bitcoin. Gold can exist till forever i guess, cause in every country need gold. Its different with bitcoin that just can be use to make profit by trade at the market, also bitcoin isn't only one currency that can be traded.
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.
Quality is greater than Quantity.If bitcoin compared to gold, quality asset can be seen in bitcoin. There are many things that we can use using bitcoin transaction. However, gold is also quality asset. But because it is precious, only few people can afford to buy gold. That is their difference. Because we can be bought by the use of bitcoin. We can send and receive bitcoin wherever we are. Unlike with, the primary usage is for collecting and to have a good class to the people.
I think the value of BTC comes from the network. The more people contribute to the network, the more people believe the system, the more people trust the token economy, the network gets stronger. A strong network is a source of BTC's value. I think this is the difference between gold and BTC. Since the value of gold comes from the gold itself and the people who believe the value of gold.
Right. The price of bitcoin and other cryptocurrencies is based on trust and demand for them. If trust falls, the cryptocurrency price will instantly fall. With gold, this can not happen. Its value is not based on trust. In itself, gold is also a valuable metal, which is used precisely as a metal in industry, electronics, jewelry and other areas of our life.On this basis, gold and cryptocurrency are completely incompatible with each other.
Why people still like to compare gold and bitcoin will stay enigma for me. It was interesting in the beginning, but now it`s boring, cause these two can`t be compared. Gold is a rock, bitcoin is entire network that connects whole world. This is evolution of money, denying it will not lead us anywhere, compare it with past has no sense cause crypto is something totally different from everything we had.
What we see between gold and bitcoin in terms of existence has a big difference. Gold even after such a big volume into usage the growth it has attained is small with comparison to the year of existence and the growth attained by bitcoin. This shows the potential between technology based growth and the common metal value. However the longest of survival provides the trust while the short term survival provides with profiting.
it cannot be interrelated because technological differences are very striking, I mean here is a greater economic flow because it is supported by currently available technology, but gold remains the main thing because physical factors have high value, while bitcoin will still go up and down by so much debate.
But if you talk about potential economic alternatives that continue to grow, bitcoin will move faster, and if evolution does not experience controversy that is deadlocked it will become a rocket that can no longer be prevented.
We have to see bitcoin as the important thing with our current technology, and we know that gold is just a gold with value and it can’t do anything with regards to technology. Gold will exist forever as long as we have the land to dig but with technology it will continue to grow over years and bitcoin will continue to follow that trend until it become more expensive. But if you talk about potential economic alternatives that continue to grow, bitcoin will move faster, and if evolution does not experience controversy that is deadlocked it will become a rocket that can no longer be prevented.
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.
How many kilograms are you tall?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.
Jee, I don't know ... how many meters are you old?
I'll add this: Instead of comparing how long gold and Bitcoin exist as money, why don't we compare how widespread is their acceptance as money today?
Gold today, in its different forms (jewel, coins, bars etc.) is recognised as money by around 100% of the world population.
Bitcoin: end of March 2019 there were 35 million Blockchain wallets.
Even if all of them have Bitcoins...
even if each wallet belongs to a different person...
even if each Bitcoin owner considers Bitcoin a money, and not just a gambling or investing vehicle...
... that's 0,5% or the world population.
Gold acceptance as money: 100%
Bitcoin acceptance as money: 0,5%
Gold and BTC, these are totally different things and i think this comparison isn’t healthy enough.
But still it’s true that people really see BTC as the digital gold. In time we’ll see the price growth.
But still it’s true that people really see BTC as the digital gold. In time we’ll see the price growth.
I think the value of BTC comes from the network. The more people contribute to the network, the more people believe the system, the more people trust the token economy, the network gets stronger. A strong network is a source of BTC's value. I think this is the difference between gold and BTC. Since the value of gold comes from the gold itself and the people who believe the value of gold.
I think you will be crying later, a sucker is born everyday!
Of course, there's a possibility for that.
But did you consider the other side of the medal? What if it'll be you the one crying?
I mean, long ago a guy called Darwin has shown that over time adaptation is crucial. And you may not want to adapt...
This is false, and a lot of misinformation is your post. You say gold has no intrinsic value, this is false.
Apologies, I'll correct that: gold has very little intrinsic value.
Yes it has some use in electronics, and probably other areas as well. But this isn't the reason that gold has a high price. I think my point still stands.
People buy gold, but the main reason for this is not that they want to use it in electronic circuits. That's nonsense. I mean, why were people buying gold hundreds of years ago?
Gold is valuable because people agree that it is valuable, that's it, that's the main source of its value.
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