Gold quickly becoming more scarce. Which will be worth more, Bitcoin or Gold? - page 3.

geegaw

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Quote from: AniviaBtc on March 28, 2020, 05:59:36 AM

Quote from: avikz on March 25, 2020, 01:49:18 AM

Gold in existence - since ages
Bitcoin in existence - 11 years running

If you still want to compare gold with bitcoin, it's upto you! Gold has been used by the banks worldwide to keep as a cash equivalent for unforeseen times. Bitcoin is not yet adooted by banks for any such reasons.

Looking at the current situation, Gold stays way ahead than bitcoin or any other cryptos to be considered as a safe heaven. Hope you have got your answer.

For me, gold is much better and it will never become outdated because of its ability to store its value in the market. Gold is also a good for investment and it is for a long term business so that after a long long time you will still have the amount of money that you've invested. Most of our elder family members such as grandmother or grandfather, they still have the gold that they've store for years so that the future generation which is now, they will benefit on what they kept for a long period of time. Bitcoin is also good but its volatility is the one who destroy its reputation as a store of value. So that it is not useful for a long term, and needs to be manipulated properly depending on its price so that you'll have a profit from it. Bitcoin is seasonal while gold is for a long term investment.

Well, Bitcoin is really a kind of seasonal investment, we can see the change of bitcoin with each milestone, sometimes very low, sometimes very high, it takes a lot of calculations from investors to make a complete profit and not lose with bitcoin, and it may be outdated in the future. While gold is like you said, its obsolete status is very low as it is still a form of showing wealth to the present time, it's really a form of long-term investment, so when comparing the value in the future, gold will probably slowly touch and surpass the value of bitcoin.

AniviaBtc

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Quote from: avikz on March 25, 2020, 01:49:18 AM

Gold in existence - since ages
Bitcoin in existence - 11 years running

If you still want to compare gold with bitcoin, it's upto you! Gold has been used by the banks worldwide to keep as a cash equivalent for unforeseen times. Bitcoin is not yet adooted by banks for any such reasons.

Looking at the current situation, Gold stays way ahead than bitcoin or any other cryptos to be considered as a safe heaven. Hope you have got your answer.

For me, gold is much better and it will never become outdated because of its ability to store its value in the market. Gold is also a good for investment and it is for a long term business so that after a long long time you will still have the amount of money that you've invested. Most of our elder family members such as grandmother or grandfather, they still have the gold that they've store for years so that the future generation which is now, they will benefit on what they kept for a long period of time. Bitcoin is also good but its volatility is the one who destroy its reputation as a store of value. So that it is not useful for a long term, and needs to be manipulated properly depending on its price so that you'll have a profit from it. Bitcoin is seasonal while gold is for a long term investment.

madhavsinghrajput

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Gold is up here.It is one of the most valuable metal in the world.
https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart
This is the year by year growth of gold since 2000 and in 2019 the price of gold has increased by 18.83% which is the most since 2000.
In 2020 itself the year open price of gold was 1583.5$ and now it is 1629$.Despite of such heavy recession the gold has recovered faster then any other commodity or equity.The gold are for long investment and so are bitcoin but comparing bitcoin with gold is not fair and should be avoided as both are from different field.

KrisAlex18

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Quote from: 687_2 on March 25, 2020, 01:37:56 AM

Gold selling out, private persons are going to have trouble taking delivery:
https://newsroom.proaurum.de/pro-aurum-schliesst-edelmetall-shop-vom-23-bis-einschliesslich-25-maerz-2020/

https://www.handelsblatt.com/finanzen/maerkte/devisen-rohstoffe/edelmetalle-mangelware-gold-nachschub-aus-der-schweiz-geraet-ins-stocken/25672404.html?ticket=ST-511794-2IgeAmgrQz4Q730T9Yxt-ap1

Refineries in Switzerland melt 70% of all gold, all are shut down:
https://www.aargauerzeitung.ch/wirtschaft/schweiz-schmilzt-das-gold-der-welt-die-groessten-raffinerien-sind-hier-129626667

https://goldswitzerland.com/swiss-gold-refiners-cease-production-end-of-paper-market/

Limited supplies and great demand can drive prices very high. Which will be worth more in a year, Bitcoin or Gold?

Actually both bitcoin and gold are essential things, but I don't think that they should be compared to each other because they are differ in purposes. Bitcoin are used through online, we can also acquire it online, it started in the year of 2009 while gold is in the nature, it existed since ages and used in real life.

Based on my understanding, if both things differ from its purposes it cannot be compared because there would be bias that may happen because of different purposes, usage and nature.

Both are important, they have an essential value that may help us in our daily lives.

Wexnident

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Most of us are trying to push BTC to be above gold yes, but honestly. The difference in the span of time of the two being used is way too vast. Even if we account the era difference, it would probably still take a decade or so before Bitcoin surpasses gold. Not to mention that Gold may increase in price in the near future due to the possible recession that is on its way. Even if we do say that Bitcoin could reach the price of gold in a few years time, it would probably stay there for a few hours at most. If we look at its usage, you could see that gold beats BTC by a mile as a store of value all because of how volatile BTC is. If we consider BTC reaching the price of gold for just a few hrs as a win, then sure, but honestly, that seems an empty argument. It needs to reach the price of gold and hold there, maybe go lower by a few hundreds but never going below a certain point.

verita1

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BTCitcoin should gain more value by 2021 and more adoption. We have evolved by making growing Bitcoin and cryptocurrencies. Although the Coronavirus is a horror to humanity, it has sparked many people the interest of using it as a means of payment, it is also being used to raise donations to fight the virus.

Wind_FURY

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Quote from: HardFacts on March 27, 2020, 10:09:04 AM

Quote from: DeathAngel on March 26, 2020, 06:43:09 AM

Bitcoin becomes more scarce every 4 years so almost close to being 100% definitive, bitcoin is & will be worth more than gold. Gold is a good store of value but who the hell uses gold to pay for anything in modern timee? We’re not in the 1800’s.

There are an UNLIMITED number of crypto currencies that can be created.

BUT there's only one Bitcoin.

Quote

There are only 1,000 " Hard Facts Coins " in existence, that does not give them any value.

You're right. Because not all cryptocurrencies, that's community-bootstrapped, will be as successful as Bitcoin. Bitcoin has the advantage. It has the best developers, and the largest community.

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Scarcity in itself means NOTHING.

It means nothing for HardFactcoin.

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Central Banks, Hedge Funds, serious money does NOT invest in BitCoin. Intelligent people know that BitCoin is like going to the casino, pure gambling, and likely to lose their investment.

GOOD!

pooya87

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considering the fact that gold price also got dumped during the worldwide panic you can't make that conclusion. besides comparing bitcoin with gold is like comparing apples and oranges. bitcoin has a lot of positive characteristics that gold can never have and vice versa. for example you can always buy as many bitcoin as you want and store it all the same on your own in the safest possible way (eg cold storing millions of dollars worth of bitcoin) but you can never do the same with gold! there is no way you could "safely" store millions of dollars worth of gold on your own.
not to mention that you can't spend gold but you can spend bitcoin in any size or amount.

nosferzd

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If the question is what will be more expensive in 2021, then this is undoubtedly bitcoin. Gold has a smoother change than Bitcoin. But it is worth considering that the gold reserves are only 10-15 years old, perhaps gold will be more expensive after the natural reserves run out.

Vishnu.Reang

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Gold is becoming scarce, but if you check the charts then you can see that the mine production of gold is not declining. The amounts have remained remarkably stable over the years. The production in South Africa and some of the other nations have declined during the past decade or so. But that has been more than neutralized by the increase from Russia, Amazonian nations and even China.

In the near future, the scarcity of Bitcoin is going to increase at a faster level when compared to that of gold.

wozzek23

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There is no need to be comparing the both of them, they are definitely going to do well in the next one year. The world market has been down and there has also been a lot of panic selling in the cryptocurrency market and we all know that’s it’s due to the Coronavirus pandemic and some other underlying circumstances.

The price of gold earlier this month was below 50,000 USD/kg ($47,000), but after some days the price has climbed up to 52,000 USD/kg (around $1,600 per oz). That’s the same thing with Bitcoin; earlier this month the price of Bitcoin was as low as $4000, even below that, but recently it bounced back to 6,600 USD. So they will all recover, there’s no need for comparing the both of them.

HardFacts

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Quote from: DeathAngel on March 26, 2020, 06:43:09 AM

Bitcoin becomes more scarce every 4 years so almost close to being 100% definitive, bitcoin is & will be worth more than gold. Gold is a good store of value but who the hell uses gold to pay for anything in modern timee? We’re not in the 1800’s.

There are an UNLIMITED number of crypto currencies that can be created.

There are only 1,000 " Hard Facts Coins " in existence, that does not give them any value. Scarcity in itself means NOTHING.

Central Banks, Hedge Funds, serious money does NOT invest in BitCoin. Intelligent people know that BitCoin is like going to the casino, pure gambling, and likely to lose their investment.

Hard Facts

Sanugarid

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Quote from: fiulpro on March 26, 2020, 03:27:41 PM

Well these are just investors buying anything they believe in. Bitcoins and Gold are something that will actually give amazing rewards when the time is right and the pandemic have passed.
I do think Bitcoins will be worth more compare to gold. When we are talking about the percentage Bitcoins is going to be earning more profit in the upcoming days .

Gold is more like a staple investment with 100 % sure results but there is still that line that they cannot cross , it cannot overshoot but Bitcoins can , that too very fast.

Hell yeah, and these investors seems to be pretty not knowledgeable of bitcoin right? But this question has come overly and been in the discussion every time but how do we compare the prices of two? is it by per ounce of gold to 1 btc? or a bar of gold per btc, no one really asks this way so we can establish a good ground of comparing. Remember that gold has been there for a long time and bitcoin, technically born in 2009 but I really want to say not until 2017, Gold has a different kind of standard and so bitcoin does too. Bitcoin is more of like a digital asset but not a digital gold.

davis196

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The gold prices are manipulated by the US federal reserve system for decades.The real price of gold is actually higher.
The Americans wanted to keep the gold price low,because if it gets more expensive,more countries in the world will buy more gold to backup their national currencies and stop using US dollars as a reserve currency.
I hope that both Bitcoin Core and Gold will become way more valuable during the summer,but I'm not quite sure about Bitcoin.

Quote from: Tipstar on March 25, 2020, 08:39:08 AM

We haven't realised that total supply of gold yet. Though gold is mined in finite numbers of mines, new gold mines are found every now and than. And the supply could be much more larger than we might be thinking. While on the other hand, Bitcoin would never reach 21 million in supply.

It is considered by some scientists that more than 75% of the gold on the planet Earth has already been mined.This information is debatable,if you ask me.

posi

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Quote from: The Sceptical Chymist on March 26, 2020, 03:33:19 PM

Gold isn't scarce--not now, not before this viral crisis, and it's not going to be anytime soon. There might be crazy panic buying and some retailers might be having trouble keeping gold in stock, but I can guarantee you that's only a temporary situation. It isn't as if the world had any gold vanish off the face of the earth. All those gold coins and bars are still out there, it's just that some people are likely hoarding a great deal of them at the moment.

And what this thread essentially boils down to is another bitcoin vs. gold debate, and I've seen probably a hundred of these since 2015. Without knowing exactly what you're comparing (e.g., 1 ounce of gold vs. 1BTC), it's a silly question.

I'm not much for gold ownership myself, but I can understand why it's hot right now. With all the money printing that's going on, people want to hedge against inflation--and traditionally that's been done with gold & silver. Bitcoin? Not a good hedge in my opinion.

I think people compare bitcoin and gold because of their curiosity and lack of better understanding about the two assets. With that been said, i think the OP was right when he said gold is scarce because read in an article which claimed the USGC said there are only 50,000 tons of mineable gold left in the world, theres limited gold mining companies and the current pandemic will trigger another ever growing worldwide demand of gold.

The Sceptical Chymist

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Gold isn't scarce--not now, not before this viral crisis, and it's not going to be anytime soon. There might be crazy panic buying and some retailers might be having trouble keeping gold in stock, but I can guarantee you that's only a temporary situation. It isn't as if the world had any gold vanish off the face of the earth. All those gold coins and bars are still out there, it's just that some people are likely hoarding a great deal of them at the moment.

And what this thread essentially boils down to is another bitcoin vs. gold debate, and I've seen probably a hundred of these since 2015. Without knowing exactly what you're comparing (e.g., 1 ounce of gold vs. 1BTC), it's a silly question.

I'm not much for gold ownership myself, but I can understand why it's hot right now. With all the money printing that's going on, people want to hedge against inflation--and traditionally that's been done with gold & silver. Bitcoin? Not a good hedge in my opinion.

fiulpro

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Well these are just investors buying anything they believe in. Bitcoins and Gold are something that will actually give amazing rewards when the time is right and the pandemic have passed.
I do think Bitcoins will be worth more compare to gold. When we are talking about the percentage Bitcoins is going to be earning more profit in the upcoming days .

Gold is more like a staple investment with 100 % sure results but there is still that line that they cannot cross , it cannot overshoot but Bitcoins can , that too very fast.

sodiik

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Bitcoin and gold are valuable investment assets. But gold and Bitcoin have many differences. The increase in Bitcoin prices is very unusual, but when reduced, the price is able to drop very sharply. It can make people go crazy when prices drop very sharply. As happened some time ago that Bitcoin was experiencing a very sharp decline. Whereas gold price movements are more stable than Bitcoin.

I personally prefer to trade Bitcoin. However when I have a great advantage of trading. The advantage I invested in gold.

Ridwan Fauzi

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There are an adventage and disadventage when you choose among bitcoin and gold.

Gold, will help you to store your money safely. You won't lose much although there is something bad come. But you will find disadventage when you choose gold, you can't use it as payment system, gold is gold never be money.

Bitcoin, you have a lot of risk when you put your moneyj here but you have a chance to double your money in a few times. Bitcoin has multifunction, you can use bitcoin as money and you can choose bitcoin as an investment place.

As for your question, I guess gold will be much prefer to be choosen by most people. They already known that gold is really valuable whilst bitcoin, its still new and just a few people who know it. But I think there are a lot of chance foe bitcoin be used by many people, time will answer it.

DeathAngel

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Bitcoin becomes more scarce every 4 years so almost close to being 100% definitive, bitcoin is & will be worth more than gold. Gold is a good store of value but who the hell uses gold to pay for anything in modern timee? We’re not in the 1800’s.

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