Gold Versus Bitcoin? - page 2. | Bitcointalksearch.org

CoinsCoinsEverywhere

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Quote from: AjithBtc on October 26, 2017, 12:51:56 AM

Quote from: Izarok on October 26, 2017, 12:39:18 AM

Quote from: ledu_ico on October 19, 2017, 08:52:14 PM

Will bitcoin overtake gold’s place?
It might be the case investors and adopters will use both gold and bitcoin, revealing either/or debates to be more about blackening bitcoin’s reputation than substantial analysis. Legacy banks usually prefer status quo to radical innovation.
Are you hedging in preference to bitcoin over gold?

Bitcoin has already overtaken gold in terms of pricing and profitability. Bitcoin's volatility and it being decentralize is its major asset.

In terms of value, gold has been surpassed long back. But in terms of capital market as well in terms of user network we're yet to travel long. Gold as an commodity has been making it more valuable as it's not widely available. Here with bitcoin the technology generates the supply to the demand. Based on which volatility becomes an issue with gold users while bitcoin users love the volatility.

What do you mean by this? Bitcoin's supply is ultimately fixed (as long as the developers/community never decide to increase it, but that's another debate for another time). In fact, while gold is rare and expensive to mine, its supply is less fixed than bitcoin as more gold deposits are continually being discovered.

Lancusters

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Quote from: AjithBtc on October 26, 2017, 12:51:56 AM

Quote from: Izarok on October 26, 2017, 12:39:18 AM

Quote from: ledu_ico on October 19, 2017, 08:52:14 PM

Will bitcoin overtake gold’s place?
It might be the case investors and adopters will use both gold and bitcoin, revealing either/or debates to be more about blackening bitcoin’s reputation than substantial analysis. Legacy banks usually prefer status quo to radical innovation.
Are you hedging in preference to bitcoin over gold?

Bitcoin has already overtaken gold in terms of pricing and profitability. Bitcoin's volatility and it being decentralize is its major asset.

In terms of value, gold has been surpassed long back. But in terms of capital market as well in terms of user network we're yet to travel long. Gold as an commodity has been making it more valuable as it's not widely available. Here with bitcoin the technology generates the supply to the demand. Based on which volatility becomes an issue with gold users while bitcoin users love the volatility.

Not all bitcoin users love its volatility. It is beneficial only to traders. Many of the users collect coins for their accounts. For them, a price drop is a shock. Commodities trading is too slow to use bitcoin because its behavior is not predictable. It seems to me that the stability of bitcoin prices would be more positive than its volatility.

ivrynx

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I think we can compare the two how they started, at first only a few group of people are using them, then there came a time when others are ignoring their value, since it is something new, then the acceptance that both can be used as currency and will become an asset later in the future. I think you failed to recognize that Bitcoin is called gold 2.0 for a reason, that is, it will be valued more than gold, will be used as currency as gold, and will over time become a fortune like gold, I think there are a lot of similarities between gold and Bitcoin, the only difference that I am seeing is the timeline, if gold is being used today like Bitcoin, they can be contemporary, however gold's time is already done and has been replaced by Fiat, while this time, Bitcoin is digital gold, and we live in a digital era, it only means having Bitcoin is like having gold as well.

AjithBtc

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Quote from: Izarok on October 26, 2017, 12:39:18 AM

Quote from: ledu_ico on October 19, 2017, 08:52:14 PM

Will bitcoin overtake gold’s place?
It might be the case investors and adopters will use both gold and bitcoin, revealing either/or debates to be more about blackening bitcoin’s reputation than substantial analysis. Legacy banks usually prefer status quo to radical innovation.
Are you hedging in preference to bitcoin over gold?

Bitcoin has already overtaken gold in terms of pricing and profitability. Bitcoin's volatility and it being decentralize is its major asset.

In terms of value, gold has been surpassed long back. But in terms of capital market as well in terms of user network we're yet to travel long. Gold as an commodity has been making it more valuable as it's not widely available. Here with bitcoin the technology generates the supply to the demand. Based on which volatility becomes an issue with gold users while bitcoin users love the volatility.

Izarok

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Quote from: ledu_ico on October 19, 2017, 08:52:14 PM

Will bitcoin overtake gold’s place?
It might be the case investors and adopters will use both gold and bitcoin, revealing either/or debates to be more about blackening bitcoin’s reputation than substantial analysis. Legacy banks usually prefer status quo to radical innovation.
Are you hedging in preference to bitcoin over gold?

Bitcoin has already overtaken gold in terms of pricing and profitability. Bitcoin's volatility and it being decentralize is its major asset.

Lieldoryn

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Quote from: Omega Weapon on October 25, 2017, 01:13:30 PM

Quote from: Indrawan77 on October 21, 2017, 12:12:35 AM

No, it wont replace gold , bitcoin is a currency and was created for transaction not for investment, and becuase it hasn't been fully regulated, so we cant be sure of bitcoin fate in the future, but gold will always be accepted, and the government will surely support gold over bitcoin, bitcoin could surpassed gold but it cant replace gold places

All currencies are investment vehicles as well, you just need to look at the forex market one of the biggest markets of world where the only thing traded are not stocks but currencies, so whether we like it or not the fact that bitcoin is a currency also means that is an investment, and what an investment it is, it has given to all of us incredible profits without having to do anything except to hold our bitcoin.

First, you correctly reasoned but then you lost the logic. Currencies have a price if they are used for investment. Please tell me who uses bitcoin for investment? Bitcoin grows in value because it is not the laws of a civilized market. In all markets there are certain rules that limit the ability to speculate. Bitcoin is deprived of control and so all of the bitcoin community is in the hands of speculators.

Omega Weapon

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Quote from: Indrawan77 on October 21, 2017, 12:12:35 AM

No, it wont replace gold , bitcoin is a currency and was created for transaction not for investment, and becuase it hasn't been fully regulated, so we cant be sure of bitcoin fate in the future, but gold will always be accepted, and the government will surely support gold over bitcoin, bitcoin could surpassed gold but it cant replace gold places

All currencies are investment vehicles as well, you just need to look at the forex market one of the biggest markets of world where the only thing traded are not stocks but currencies, so whether we like it or not the fact that bitcoin is a currency also means that is an investment, and what an investment it is, it has given to all of us incredible profits without having to do anything except to hold our bitcoin.

Ferris419

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Bitcoin for short term
Gold for long term
Both are really good as an investment and both have their own unique features so instead of depending on one its good to invest in both of them.

Torque

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Gold and silver are for insurance, money of last resort. There's a reason why the world's central banks own metric tons of the stuff.

But don't expect huge gains from PMs since their price is strictly controlled and manipulated by the Powers That Be. They might rise every 10-20 years at best.

meebs

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Looking at the growth of bitcoins in recent times I will gamble my money by investing everything in bitcoin to make huge profits in short term as I don't like to wait longer to make profits so gold is not the best choice as the price of gold is very stable so profits making would be an time consuming process.

JimboToronto

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You're never too old to think young.

It wasn't all that long ago that achieving gold ounce price parity was a big deal.

Now each bitcoin is worth more than a quarter pound of gold.

Cool

liseff3

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Quote from: ledu_ico on October 19, 2017, 08:52:14 PM

Will bitcoin overtake gold’s place?
It might be the case investors and adopters will use both gold and bitcoin, revealing either/or debates to be more about blackening bitcoin’s reputation than substantial analysis. Legacy banks usually prefer status quo to radical innovation.
Are you hedging in preference to bitcoin over gold?

Do you know?, Since Monday march 6 2017 bitcoin has exceeded the price of gold,

Quote from: TanyaDegurechaff on October 19, 2017, 09:12:54 PM

Quote from: ledu_ico on October 19, 2017, 08:52:14 PM

Will bitcoin overtake gold’s place?
It might be the case investors and adopters will use both gold and bitcoin, revealing either/or debates to be more about blackening bitcoin’s reputation than substantial analysis. Legacy banks usually prefer status quo to radical innovation.
Are you hedging in preference to bitcoin over gold?

It is unlikely that bitcoin will take over gold because the value of currency of a country is based on gold. The more gold you have on reserve the higher the value of the currency is. And one of the best characteristics about gold is that it never days and its value almost never decreases. As for bitcoin its value is very volatile it can go from &5000 a coin to $3000 in just minutes depending on the situation, but don't think that being volatile is a bad thing because just like what happened recently that bitcoin price has skyrocketed and many have earned huge amounts of money after they have bought bitcoin even though there is a fud by china. So it really depends on how it is manage and invested and by whom is investing in it. for governments gold is the better option and for companies and individuals bitcoin is better.

I agree to your opinion.
The value of currency of a country is based on gold.
For governments gold is the better option and for companies and individuals bitcoin is better.

Quote from: cyclotronmajesty on October 19, 2017, 10:18:31 PM

Both are good as an investment and people have more faith in gold only because it exists since long time and in long term people have made good profits from it but its price is not too volatile like bitcoin so if you want to make huge profits in quick time then bitcoin is the right choice for you as even with small investment you can expect best profits depending on the price of bitcoins.

I agree with you.
Bitcoin itself is known to often experience high fluctuations, whereas gold has of price stability
I`m new here as trader, but i`m tend to choose bitcoin.
Because, Bitcoin price always experienced very aggressive price fluctuations.

cryptojac17

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Quote from: Bezobraznike on October 21, 2017, 06:45:02 AM

Quote from: Ayiranorea on October 21, 2017, 06:15:23 AM

Gold and bitcoin were entirely different from each other. Gold is an asset, but with bitcoin it's all about technology and growth happens completely based in the user involvement. Gold has a standard which grows with stability, bitcoin might have surpassed but it haven't gained the trust as Gold.

Bitcoin can not replace gold entirely. People can change their minds about where to
save money, and they can choose bitcoin over gold. That is not simple decision, who
like to risk more will buy just bitcoins, safe players will buy both and be secured on
two places.
Bitcoin is new, it is silly to compare trust in gold and in bitcoins. With gold we know
with our first steps, and about bitcoin people still do not know much, there is still many
people in this world that does not know about bitcoin existence.

Gold in our era still strong. But because of technology we come out the idea of bitcoin a virtual currency which is versatile and draw the attention investors that's why the prices is sky rocketed and fore now its more valuable than gold if you own BTC it just like you have a ledger a list that justified you own BTC. if you have gold you should have a vault where gold to kept. you can hold it you can sold it but you carry it any time because its material things, bottom line is they both asset and the question is who will prevail.

Lampaster

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Quote from: Ayiranorea on October 21, 2017, 06:15:23 AM

Gold and bitcoin were entirely different from each other. Gold is an asset, but with bitcoin it's all about technology and growth happens completely based in the user involvement. Gold has a standard which grows with stability, bitcoin might have surpassed but it haven't gained the trust as Gold.

It seems to me that the only difference is that gold has a physical form, the bitcoin of this form does not and is only in the virtual world. Gold is also an asset whose price depends on agreement between people. Gold we don't need for everyday life. This means that the price for it is conditional and depends only on demand. Bitcoin has the same characteristics. Bitcoin is the equivalent of labor invested in its purchase. Now it is growing in price because it attracts itself inflationary Fiat. Then it will not.

Bezobraznike

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Quote from: Ayiranorea on October 21, 2017, 06:15:23 AM

Gold and bitcoin were entirely different from each other. Gold is an asset, but with bitcoin it's all about technology and growth happens completely based in the user involvement. Gold has a standard which grows with stability, bitcoin might have surpassed but it haven't gained the trust as Gold.

Bitcoin can not replace gold entirely. People can change their minds about where to
save money, and they can choose bitcoin over gold. That is not simple decision, who
like to risk more will buy just bitcoins, safe players will buy both and be secured on
two places.
Bitcoin is new, it is silly to compare trust in gold and in bitcoins. With gold we know
with our first steps, and about bitcoin people still do not know much, there is still many
people in this world that does not know about bitcoin existence.

Ayiranorea

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Gold and bitcoin were entirely different from each other. Gold is an asset, but with bitcoin it's all about technology and growth happens completely based in the user involvement. Gold has a standard which grows with stability, bitcoin might have surpassed but it haven't gained the trust as Gold.

Lieldoryn

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Quote from: pixie85 on October 21, 2017, 05:10:59 AM

Quote from: Indrawan77 on October 21, 2017, 12:12:35 AM

No, it wont replace gold , bitcoin is a currency and was created for transaction not for investment, and becuase it hasn't been fully regulated, so we cant be sure of bitcoin fate in the future, but gold will always be accepted, and the government will surely support gold over bitcoin, bitcoin could surpassed gold but it cant replace gold places

Currencies are also a good investment vehicle. Historically people used to store coins when there was no paper money and then paper money when those became a thing.
You can still hear stories of old people literally sleeping on money. I think people will keep storing Bitcoin because of its independence and lack of connection to a country of origin.

All those who slept on the money eventually lost their money. The government periodically switch the bills and at this point many lose their cash savings. Gold protects its owners. From the reliability point of view gold is the best investment. But there is a market, and now it is on the side of bitcoin. But it will not always.

pixie85

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Quote from: Indrawan77 on October 21, 2017, 12:12:35 AM

No, it wont replace gold , bitcoin is a currency and was created for transaction not for investment, and becuase it hasn't been fully regulated, so we cant be sure of bitcoin fate in the future, but gold will always be accepted, and the government will surely support gold over bitcoin, bitcoin could surpassed gold but it cant replace gold places

Currencies are also a good investment vehicle. Historically people used to store coins when there was no paper money and then paper money when those became a thing.
You can still hear stories of old people literally sleeping on money. I think people will keep storing Bitcoin because of its independence and lack of connection to a country of origin.

Indrawan77

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No, it wont replace gold , bitcoin is a currency and was created for transaction not for investment, and becuase it hasn't been fully regulated, so we cant be sure of bitcoin fate in the future, but gold will always be accepted, and the government will surely support gold over bitcoin, bitcoin could surpassed gold but it cant replace gold places

Omega Weapon

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Quote from: mobnepal on October 19, 2017, 10:43:56 PM

Have a look at this chart Grin

Bitcoin's price is surging everytime when there is fear in the market because of fuds and hypes. Gold's price is quite stable but what you can get in return after a year by just holding gold is way lower than what you can get with bitcoin. Its risky to invest in bitcoin but if we look at how much you can make it is worth to take that risk.

I love the comments in the graph, people see what they want to see and if they want to say bitcoin is not going to last they are going to find something to support their criticism despite that fact that bitcoin is probably the most profitable investment since the date bitcoin was created, but if they want to keep badmouthing bitcoin let them, we will get the profits and they will get the regrets.

Topic: Gold Versus Bitcoin? - page 2. (Read 1416 times)