Has BTC really become more attractive than gold? - page 10.

Finestream

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Quote from: pinggoki on March 26, 2024, 09:15:23 PM

If we do a survey on a lot of people regardless of if they're using bitcoin or not, I still think that gold is more attractive to them as an investment, maybe even if we tell those people that don't know bitcoin about bitcoin unbiased, they'd still invest in gold since there's less risk and it's more tangible than that of bitcoin which is a digital currency. Can't really blame those people though, they're just trying to go with the lowest risk possible for their money, after all, money isn't really that easy to come by for any of us and we all need it to survive in this life.

Bitcoin still has a long way to go before a lot of people become accepting of it, it's going to be a lot of convincing and proving them wrong of their initial notion of bitcoin, that's why information drives are an integral part of bitcoin adoption, destroying the stereotypes and wrong ideas is the best way to move forward.

If we are going to ask those middle adults which ages from 40-65, they will surely answer gold since majority of them are not even aware about bitcoin and its value existence. However, for early adults which ages from 20-40 or even those millennials, they are more aware about technology and innovations so they prefer mostly bitcoin over gold. Also, investment preference greatly depends on how knowledgeable and well-experienced you are in a certain investment, otherwise you won’t be risking your hard-earned funds to either gold or bitcoin if you don’t know about their advantages more than their disadvantages.

gunhell16

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Well, digitally speaking, my answer is yes, Bitcoin is more attractive than gold. Then, with bitcoin worth 10 dollars, at least you can buy it, but with gold, not in reality. You can't buy gold for $10.

Then the chances are higher that you will get a profit in bitcoin compared to gold, although gold is also a good investment, so most of the community in this field will actually choose bitcoin,
but if they earn a lot in bitcoin, they will be able to buy it. They are now gold as an investment.

BALIK

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Quote from: Plaguedeath on March 27, 2024, 01:39:33 AM

1. BTC, gold has so many risks and not as profitable as BTC.

You mean gold is riskier than BTC? I agree with you that in terms of profit, bitcoin is completely superior to gold, but in terms of risk, I don't think BTC is safer than gold. Even though I am a bitcoin investor, I don't want to deny that holding and investing in bitcoin is still risky even if we have bitcoin ETFs. Bitcoin is becoming popular but it cannot really be mass adopted like gold, many countries still do not care and recognize it. So it can be said that bitcoin has become safer many years ago but it is not safer than gold.

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Quote from: Vincom on March 26, 2024, 07:21:50 PM

Are you investing in BTC or gold?

BTC, I tried forex trading and mainly trading gold, I've gained a good amount but its very hard to trade in forex trading especially gold because the market can be vary and the movement sometimes is opposite or not according to the news or statistics.

Quote from: Vincom on March 26, 2024, 07:21:50 PM

Do you think BTC has become more attractive than gold in the investment sector?

I think yes, I think the price of bitcoin is enough as a proof that bitcoin has become more popular to invest with or to trade with, So yeah bitcoin investment is much more popular and in demand now a days and will be more popular as its making a big movement and will catch the eye of those investors.

Quote from: Vincom on March 26, 2024, 07:21:50 PM

Have people like Peter Schiff accumulated a lot of BTC while still badmouthing BTC in the media?

Believe or not, there are many investors that is previous against the bitcoin, but when they taste the reward of bitcoin they suddenly believe in it and invested on it. So I think this guys is only staying in his character but the truth he is also investing in bitcoin.

Plaguedeath

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Quote from: Vincom on March 26, 2024, 07:21:50 PM

I would like to know your views on BTC and gold:

Are you investing in BTC or gold?
Do you think BTC has become more attractive than gold in the investment sector?
Have people like Peter Schiff accumulated a lot of BTC while still badmouthing BTC in the media?

1. BTC, gold has so many risks and not as profitable as BTC.

2. Yes because it's easier to buy BTC than gold, you can buy BTC without need to go out and check the authenticity.

3. Probably, no one knows. You can't really know someone's purpose, if I own an exchange, I would say centralized exchange is best to hold your coins because you don't have to worry to lose your seed phrase. Even though my heart says cold storage or hardware wallet is the best place.

mindrust

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Gold has its own purpose. It is similar to bitcoin in many ways but some of its properties cannot be replicated by bitcoin and never will. First of all, gold is physical and it has that amazing shiny yellow color. That weight feels awesome too and the noise it creates when two coins hit each other… you can’t have these with bitcoin. Females will always definitely favor gold over bitcoin because they can’t wear bitcoin.

Price-wise though, bitcoin is clearly superior. Gold is barely moving and even when it does, selling physical gold is just too much hassle. The spreads are too high. Selling btc is way easier and trouble-free.

m2017

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Quote from: Vincom on March 26, 2024, 07:21:50 PM

I would like to know your views on BTC and gold:

Are you investing in BTC or gold?
Do you think BTC has become more attractive than gold in the investment sector?
Have people like Peter Schiff accumulated a lot of BTC while still badmouthing BTC in the media?

1. Why do you use "investing in BTC or gold" in the question? There is nothing stopping from combining investing in traditional gold and digital gold, as the "gold mining company Nilam Resources" plans.

On a forum called bitcointalk, you are unlikely to hear many confessions about investing in gold.

2. I would say bitcoin is becoming more attractive in the investment sector with each new cycle.

3. This is not excluded. No intelligent investor would publicly voice their investment strategies, because this is the same as playing poker with their cards exposed.

pooya87

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Quote from: Vincom on March 26, 2024, 07:21:50 PM

Are you investing in BTC or gold?

Why "or" and not "and"?

Both Bitcoin and Gold are good at the same time not separately or instead of each other. This is because they are separate independent things that are not related to each other. For example if gold drops, it doesn't make bitcoin drop and vice versa. That makes them both excellent for diversification.

The two have different characteristics and serve different purposes too.

Gold is very old and has been around for centuries and people have always valued it. It also has more stable price that doesn't largely go up or down. But it is a lot harder to buy and store since it is "physical", not to mention risky since it can be stolen in home robberies, etc.
Bitcoin is very young and very volatile for that which increases the risk and the stress when you own it. But also it gives it a lot more potential for growth and a much bigger profit (ie. from <$0.001 to $70000+ in only 15 years). It is also a lot easier to buy and store and has a much less risk of being stolen if stored properly (eg. cold storage). You can also use bitcoin as a currency which is something you can't do with gold. This gives bitcoin a very valuable utility that helps it further growth.

Kakmakr

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Bitcoin might be called, digital Gold.. but there are huge differences and one of them are the difference in Volatility. The Bitcoin price is not as stable as the price of Gold and it is favored by investors for it's wild price swings.

Gold also have other uses, like the use of physical Gold in the manufacturing of high end motherboards. It is also used in the manufacturing of high priced jewelry and hoarded as a safe haven for it's price stability.

Poker Player

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Well yes, it is clear that in this forum, at least most of us will answer yes, but there are many rich people who would tell you the same thing. One would be Saylor but another that I heard speak in the same terms would be Mark Cuban, and there are many more. In addition, for young people making their first investments I think they are also mostly investing in bitcoin, except in countries with a heavy gold tradition, such as India.

avikz

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It has become an overly discussed topic here in this forum.

Gold and Bitcoin are here to achieve different investment goals. When you say attractive, you mean great return. Bitcoin has outperformed every other assets in terms of returns. But it is also very risky and volatile.

On the other hand, Gold has been traditionally used for capital protection. It has not shown returns like Bitcoin, but it is not volatile as well.

So in terms of attractiveness, Bitcoin is definitely gone ahead than gold. But gold should always be a part of your portfolio so that it can give you support during bad times.

adaseb

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That Nilan news of acquiring all those Billions of bitcoin was completely false. They are a penny stock, market cap of like $1M there is no way they can raise enough capital to buy $1B. I think it was a pump and dump scheme.

Either why while we are on the topic, I think as a store of value bitcoin might be more volatile but it’s easier to store and spend compared to gold. Gold might get lost or stolen and you cannot split a bar of gold if you want to buy something small. Hence Bitcoin is a better alternative but people just need to understand it first.

Bananington

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Sincerely speaking, BTC has become more attractive an asset to own especially as it did launch its own spot exchange traded fund sometime back with the halving soon to come.
Still, I would go for gold because it is as older, if not older than any kind of currency in the world and still is the reserve currency for major world powers who have accumulated alot of it overtime.

It's price still cost more than BTC and although gold differs from BTC as regards tangibility, the idea of BTC is decentralized and as at now, more regulated than gold is.

The idea of BTC is still a volatile asset that mostly experienced traders and HoDLer gain from in an instant and if not kept properly, it can get lost as it is not your keys, not your coins.

Minor Miner

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Quote from: hugeblack on March 26, 2024, 09:37:43 PM

Gold and Bitcoin are two separate things and have different uses. Gold’s appeal is that it is less volatile than the dollar and Bitcoin, which means that it is a safe haven for those who want to preserve the value of their assets, something that Bitcoin failed in, while Bitcoin is a high-risk investment (depends on your definition of the word risk) and therefore has good profits. Therefore, both are used to describe an investment situation: gold is ideal as a safe haven or in case of uncertainty, and Bitcoin is of increasing value in the long term.

Many stubborn people will deny this and argue that bitcoin is still a safe haven but they do not know that a safe haven asset should be a highly stable asset and not a highly volatile asset like bitcoin.
But if bitcoin can maintain steady growth, it will still be suitable as a safe haven and inflation hedge in the long term, but no one knows how long bitcoin will be able to maintain growth. In the short term, with high levels of volatility, it really cannot be a safe haven or inflation hedge.

Volimack

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As far as I am concerned it is up to the individual to consider gold and bitcoin as an asset to invest in but the high price of bitcoin is making bitcoin more attractive in the market than gold. If you want to hold gold as an asset its value has increased significantly but investors consider Bitcoin to be safer. It is not possible to change quickly to store gold. But with the increase in the value of bitcoin one can do whatever one wants.

Fundamentals Of

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There's no harm to be exposed on both. Gold and Bitcoin have their own respective strengths and weaknesses as investment assets. You may prefer Bitcoin over gold for now because of how fast its value appreciates compared to gold, but when it comes to longevity, I think gold doesn't need to prove anything. Although we hope, it is not a guarantee that Bitcoin would remain relevant a century from now. As to gold, it might even be a certainty.

OcTradism

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Quote from: TravelMug on March 26, 2024, 09:55:40 PM

Or better be the question is,

It's already 2024, and why are still people comparing Bitcoin to Gold? I don't understand it, yeah maybe we can call Bitcoin as digital Gold, but the comparison stops there. And no, I don't invest on Gold, maybe just a couple of jewelries, that's it.

People can make comparison especially if they are hesitating what to invest in between gold and Bitcoin. They must make their research, make own comparison before spending money for investment in one of two assets.

A simple way to compare two assets is looking at their ROIs.
https://casebitcoin.com/charts#roi_chart

Quote

Peter Schiff is anti-Bitcoin, he is already late in the party. He says he rejected it in 2010 when he has the chance. So most likely he might be regretting his decision and that's why he attacks it, like comparing Bitcoin to a bubble and that doesn't believed on its long term effect.

Peter Schiff is a serious anti-Bitcoin and I feel funny and hilarious anytime he sees Bitcoin correction and say "Bitcoin is dead now" or say "Do you see it? As I said, Bitcoin will fall and you will lose money". He continuously says it many years and with years, we see higher and higher prices of Bitcoin.

Even in bearish years, Bitcoin makes higher yearly min price with years.

TravelMug

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Or better be the question is,

It's already 2024, and why are still people comparing Bitcoin to Gold? I don't understand it, yeah maybe we can call Bitcoin as digital Gold, but the comparison stops there. And no, I don't invest on Gold, maybe just a couple of jewelries, that's it.

Peter Schiff is anti-Bitcoin, he is already late in the party. He says he rejected it in 2010 when he has the chance. So most likely he might be regretting his decision and that's why he attacks it, like comparing Bitcoin to a bubble and that doesn't believed on its long term effect.

mk4

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Quote from: Vincom on March 26, 2024, 07:21:50 PM

Are you investing in BTC or gold?
Do you think BTC has become more attractive than gold in the investment sector?
Have people like Peter Schiff accumulated a lot of BTC while still badmouthing BTC in the media?

1. This should be obvious. Tongue

2. I mean, bitcoin has been more attractive than gold since forever. Even without looking at price charts, concept-wise and in terms of characteristics, bitcoin has always been far superior.

3. Maybe, maybe not. I doubt, but not impossible.

hugeblack

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Gold and Bitcoin are two separate things and have different uses. Gold’s appeal is that it is less volatile than the dollar and Bitcoin, which means that it is a safe haven for those who want to preserve the value of their assets, something that Bitcoin failed in, while Bitcoin is a high-risk investment (depends on your definition of the word risk) and therefore has good profits. Therefore, both are used to describe an investment situation: gold is ideal as a safe haven or in case of uncertainty, and Bitcoin is of increasing value in the long term.

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