Topic: "Gold is government assest,Bitcoin is all yours." A Comparison between them. (Read 341 times)
March 29, 2021, 10:14:47 AM
Gold is a traditional asset, but not bitcoin. Gold mines are certainly government resources. There is no personal hand. But if Bitcoin can be purchased, then it is completely your own. Gold is also being bought and used by people. But in the world of gold, the influence of personal people is less. Bitcoin does not have to pay any compensation for what it is doing.
March 25, 2021, 06:56:42 PM
Indeed, despite the fact that BTC is decentralized it can be controlled but only if governments of all countries will aim to block BTC together. They can easily froze wallets on centralized exchange markets and block exchanges as well so no one will able to trade, exchange or withdraw crypto. There would remain only coins that are keeping on digital wallets with no ability to trade. Nowadays we can observe how Nigerian government uses such tactic to fight against crypto in their country.
March 25, 2021, 11:52:09 AM
There is always a comparison between gold and bitcoin, both are good assets. Gold is the government's asset and they can control it anytime unlike bitcoin, they cannot access it and they cannot control it if they don't have the private keys of yours. If you want independent banking or you want that you are the only one who can access or the one who only controls your asset then you better prefer on choosing bitcoin instead of gold. Gold is also good, for sure in the future it can also go upon which you can give it as a gift to your future children.
- Discussing gold is just one way for us to gain more knowledge and understand the value of this asset and be able to invest for fun in the future, currently, bitcoin is still the more stable option, the most profitable platform belongs to bitcoin and this is the most interest of investors, gold does not dominate from a profit perspective and is too controlled by the government, investors cannot create virtual prices. So evaluating both as good is just a theory for fun, the fact that people put more of a priority on bitcoin 
March 25, 2021, 11:10:26 AM
Bitcoin has really proven to be better than gold is so many aspects, just imagine investing in gold for over 3years and investing in bitcoin for three years and see which will yield a bigger and better income of course it's bitcoin, gold is centralized and also the government is in control of gold which means there can even place some kind of restrictions to gold owners thereby making them not been able to be in full control of thier own assets but take a look at bitcoin which is decentralized, gives us full control of our asset. Bitcoin is much more better than gold in so Many ways
March 25, 2021, 10:56:52 AM
There is always a comparison between gold and bitcoin, both are good assets. Gold is the government's asset and they can control it anytime unlike bitcoin, they cannot access it and they cannot control it if they don't have the private keys of yours. If you want independent banking or you want that you are the only one who can access or the one who only controls your asset then you better prefer on choosing bitcoin instead of gold. Gold is also good, for sure in the future it can also go upon which you can give it as a gift to your future children.
March 25, 2021, 10:46:27 AM
~snip~
The only way to invest in Gold is to buy physical Gold and the transfer of ownership is difficult over long distances. (Also very risky) ...So why would you risk having to hoard Gold and becoming a huge target for criminals.
The only way to invest in Gold is to buy physical Gold and the transfer of ownership is difficult over long distances. (Also very risky) ...So why would you risk having to hoard Gold and becoming a huge target for criminals.
You are right about it. It will be too risky to do such thing as you will be an open target for many kind of criminals. However, you are also under the threat of cybercriminals while having cryptocurrencies also. Let's say that you are keeping your coins in a very trustworthy exchange like Binance etc. . There is always a possibility for seeing the exchange to be hacked. We witnessed such event before (It should be KuCoin as far as I remember).
March 25, 2021, 10:36:46 AM
The only way to invest in Gold is to buy physical Gold and the transfer of ownership is difficult over long distances. (Also very risky) ...So why would you risk having to hoard Gold and becoming a huge target for criminals.
Although these two assets aren't comparable as gold is stable, while bitcoin is volatile, if you are able to acquire a physical piece of gold it's so safe like holding bitcoin in a hardware wallet. No one can take it from you since you store it safely and in secret. 
March 25, 2021, 10:26:10 AM
What is the difference, if you buy digital gold on a centralized database and if you buy Bitcoin on a Blockchain? Well, someone is in control of the centralized Gold database and they can wipe entries and destroy your proof of ownership. The Blockchain is not a centralized database, but rather a combination of 1000's of full nodes that are running the Bitcoin protocol. (Nobody can simply wipe entries, without someone noticing it)
The only way to invest in Gold is to buy physical Gold and the transfer of ownership is difficult over long distances. (Also very risky) ...So why would you risk having to hoard Gold and becoming a huge target for criminals.
The only way to invest in Gold is to buy physical Gold and the transfer of ownership is difficult over long distances. (Also very risky) ...So why would you risk having to hoard Gold and becoming a huge target for criminals.
March 25, 2021, 09:41:00 AM
I don't know whether gold is for government or not but surly bitcoin is not for governments. The reason why governments all around the world are against bitcoin is the fact that its creating a financial eco system where government has zero control. Bitcoin till date is backed by its community. And I hope it will stay that way forever.
March 25, 2021, 08:02:03 AM
I wouldn't compare gold to bitcoin either. I did not see such a remark here that bitcoin still depends on the Internet. And the internet depends on electricity. Does gold need all this? But of course, expecting a complete shutdown of the Internet today is comparable to a global catastrophe. Thus, we all understand that the advantages of bitcoin are becoming more and more every year. Only the belief that bitcoin is completely confidential is getting smaller every year.
Recently, Edward Snowden commented on the privacy of bitcoin in a not very good way. https://u.today/edward-snowden-says-bitcoin-sucks-at-privacy?amp
Recently, Edward Snowden commented on the privacy of bitcoin in a not very good way. https://u.today/edward-snowden-says-bitcoin-sucks-at-privacy?amp
March 25, 2021, 07:30:40 AM
NO Comparison. And who told you that Bitcoin is a source of investment? I don't think so. Technically there is no source of investment in Bitcoin. It's was created with a different goal to make decentralized peer-to-peer electronic money. If you bought one Bitcoin then it will remain as one Bitcoin forever if you do not play with it. So it wouldn't be an investment source Technically. However, Bitcoin is created by a person or a group of developers and gold is a collection of nature. Bitcoin is a currency and gold is an asset. So there wouldn't be any comparison.
March 25, 2021, 07:12:52 AM
It is a really big advantage for Bitcoin being decentralized compared to gold I think. When you make an observation, you could easily understand that many people started preferring Bitcoin rather than gold for investing in as they want to have the full control. And in my opinion, it is really a great feeling. It is like you are the government and the bank at the same time. 
March 25, 2021, 07:07:50 AM
I am sure this is most likely what Satoshi had in mind when he created bitcoin. He must have realized that we really don't have any control over our financial assets whether cash in bank or gold. He must have thought that no matter how rich you are in gold or money, it can all be confiscated by the government because they can control it.
This is most probably the greatest advantage of bitcoin over gold. Bitcoin was created by Satoshi to take financial control away from the government and give it back to the populace.
I have total control over the bitcoins in my wallet and I can do with them as I please. It is important to note that there is practically no offense I can make against the law that can make my bitcoin confiscated.
This is most probably the greatest advantage of bitcoin over gold. Bitcoin was created by Satoshi to take financial control away from the government and give it back to the populace.
I have total control over the bitcoins in my wallet and I can do with them as I please. It is important to note that there is practically no offense I can make against the law that can make my bitcoin confiscated.
March 25, 2021, 04:03:21 AM
The only problem is, even if we know Bitcoin has a limited supply and somehow manage to reach 1 million USD each. Do you think it will be the same as before after the 1 million bitcoin that Satoshi mined will be released in an instant? If ever it will stand a chance, it will would probably have a hard time bringing it's glory again or for worst it won't. That's the only thing that bugs me. Unlike gold or silver, they are continuously needed, for hardware purposes and alike, name it. So I am suggesting we diversify the investment, bitcoin at the same time gold.
It's not about bringing glory though my friend. It's just about how the market values Bitcoin not just as a speculative asset but as an actual REAL asset that most importantly now for people stores and protects value. And about how secure it is, from hacks, and from market manipulation. The more people understand this and believe it, the more demand for it grows. Then it is not about price anymore especially when US dollar is getting weaker and weaker.
March 25, 2021, 01:57:25 AM
The only problem is, even if we know Bitcoin has a limited supply and somehow manage to reach 1 million USD each. Do you think it will be the same as before after the 1 million bitcoin that Satoshi mined will be released in an instant? If ever it will stand a chance, it would probably have a hard time bringing it's glory again or for worst it won't. That's the only thing that bugs me. Unlike gold or silver, they are continuously needed, for hardware purposes and alike, name it. So I am suggesting we diversify the investment, bitcoin at the same time gold.
March 25, 2021, 01:46:49 AM
The government might ask you to deposit your gold in a bank,but will you do it?
I would prefer to bury my gold somewhere and don't give anything to the government.I would pay my taxes in fiat money,but no government in the world will touch my gold. If some government clerks ask me "Where is the gold?" a would say that I lost the gold or somebody stole it from me.Problem solved.
Gold isn't centralized.Gold certificates are centralized,because you have a piece of paper,which is backed by a promise,instead of actual gold.
I would prefer to bury my gold somewhere and don't give anything to the government.I would pay my taxes in fiat money,but no government in the world will touch my gold.
If some government clerks ask me "Where is the gold?" a would say that I lost the gold or somebody stole it from me.Problem solved. Gold isn't centralized.Gold certificates are centralized,because you have a piece of paper,which is backed by a promise,instead of actual gold.
March 25, 2021, 01:37:42 AM
when they confiscate gold during that time, everyone has no option, you'd be breaking the law if you don't cooperate, it's like anarchy. but this is because they experience a crisis during that time. It's the nature of government, any government will want to have control over its people. its how society works and i think the CBDC which they are developing right now also has this purpose.
because bitcoin can be traced and can be confiscated as well. some investors are resorting to gold which they thought that can't be traced and proven to have track record.
because bitcoin can be traced and can be confiscated as well. some investors are resorting to gold which they thought that can't be traced and proven to have track record.
March 25, 2021, 01:07:59 AM
gold on its own is not centralized though. it is a metal that you can hold on your own and trade p2p in a very decentralized way. the problem is that it is not easy to do because you can't for example carry 50kg gold with yourself in your pocket to sell so people end up choosing the centralized way of doing it which is through IOUs instead using the centralized places.
In a way, the reason that golds are centralized is because of the convenience that centralization provides which is good in my opinion considering it is physical item which means that someone can physically intercept and steal the gold unlike bitcoin where the only reason for losing it is when the person that owns it is a stupid one. The control of government over your gold is a good thing because it means that it is insured and you will not lose your money when something from their side is wrong. March 24, 2021, 10:52:55 AM
Gold and Bitcoin both have advantages and disadvantages of their own. In the end, it is left for the people's choice. There is a high volatility for Bitcoin price but the situation is not the same for gold. When it comes to a long-term investment, I'd prefer Bitcoin instead of gold. Because we have seen many times how much Bitcoin multiplied its price in a few years. Bitcoin seems much more profitable than gold to me.
March 24, 2021, 09:46:02 AM
To be honest, nothing would stop the government from issuing another executive order exactly like the one from OP but for Bitcoin instead of gold. In fact, it might be easier to find out who is using Bitcoin and who isn't rather than finding out who owns gold. One of them is on the unforgivable internet, the other is offline.
This is why you don't give out personal information as much as possible if it can be avoided. Though with the current state of things, it's true that it'll not be hard for the government to locate who has which and how much, given that exchanges are now being heavily regulated day by day. But for those who are avoiding exchanges like the plague and are sticking to P2P and decentralized exchanges, they would be the ones who will be safe when that time comes.
In my own experience, gold is extremely complicated when you can't carry the weight (not literally). You'll have a lot of logistics issue and the constant threat of being robbed by armed men is there. Whereas in bitcoin, if you keep a low enough profile and not brag to everyone else in the world that you have some BTC with you, you'll be good, and you can even evade governments trying to confiscate your assets since you don't have to worry about carrying physical bullions with you.
Jump to: