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.
Topic: Has BTC really become more attractive than gold? - page 11. (Read 1918 times)
I would like to know your views on BTC and gold:
1 - Until now, in my country investing in gold on a small scale will not provide any profits... in fact I have stored gold for more than 3 years and it did not provide profits as big as Bitcoin... the problem is that gold buyers have a wide price spread. very wide, so that the gap between the selling price and the repurchase price never benefits small investors.- 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?
2 - Of course... BTC attracts all levels of investors, from small investors to large investors. The buying and selling competition is great and it is even decentralized which makes it move more naturally. And holding BTC for 1 year is more profitable than holding gold for 3 years... (assuming the amount of assets invested is balanced)
3 - Dunno...and don't want to know..I never cared about people who had fickle words. Besides, he didn't give me any direct benefit.
I think in today’s modern age, yes bitcoin has become a much attractive investment for people.
Bitcoin is a lot more volatile in nature than gold however many investors find that you can get higher profits in investing in bitcoin rather than in gold. The method of storage is another thing to consider. It’s just not about convenience but also safety and security. Having to find a place to store gold would be a nightmare compared to bitcoin stored very much easily albeit not less any secure. If people were to find a way to turn gold into something digital then maybe it would have a chance but right now bitcoin is definitely a better choice.
Bitcoin is a lot more volatile in nature than gold however many investors find that you can get higher profits in investing in bitcoin rather than in gold. The method of storage is another thing to consider. It’s just not about convenience but also safety and security. Having to find a place to store gold would be a nightmare compared to bitcoin stored very much easily albeit not less any secure. If people were to find a way to turn gold into something digital then maybe it would have a chance but right now bitcoin is definitely a better choice.
The time of gold didn't really expire,its just that bitcoin has surpassed gold in conjunction with various matching investors choice.Investors and some financial consultants have preferred bitcoin to gold in so many ways and that's just the case,although research has it that Gold is the asset with the largest market cap globally,and it is still gold at a size of $14.66 trillion.
In as much as bitcoin and gold still share or have similarities,the decentralized feature of bitcoin means a lot to people and that shows the notion that bitcoin will continue to be needed and accepted in the future.
Bitcoin has not only proven capable of unseating gold as the superior store of value, but it has become a relevant asset to secure and build wealth in today's world.it's clear that Bitcoin has been a significant success story since its existence,Its value has skyrocketed,it's popularity and trustworthiness keeps attracting consistent growth.
I think in today’s modern age, yes bitcoin has become a much attractive investment for people.
Bitcoin is a lot more volatile in nature than gold however many investors find that you can get higher profits in investing in bitcoin rather than in gold. The method of storage is another thing to consider. It’s just not about convenience but also safety and security. Having to find a place to store gold would be a nightmare compared to bitcoin stored very much easily albeit not less any secure. If people were to find a way to turn gold into something digital then maybe it would have a chance but right now bitcoin is definitely a better choice.
Bitcoin is a lot more volatile in nature than gold however many investors find that you can get higher profits in investing in bitcoin rather than in gold. The method of storage is another thing to consider. It’s just not about convenience but also safety and security. Having to find a place to store gold would be a nightmare compared to bitcoin stored very much easily albeit not less any secure. If people were to find a way to turn gold into something digital then maybe it would have a chance but right now bitcoin is definitely a better choice.
Within the crypto community, BTC has earned the nickname "Digital Gold" due to the expectation that it can rival gold in terms of market capitalization, value, economic influence, and widespread acceptance [1]. Recent months have witnessed a surge in Bitcoin's price, significantly outperforming gold. This trend is further emphasized by the shift in investment focus, with traditional investors moving away from spot gold ETFs and towards spot BTC ETFs [2]. Even gold advocate Peter Schiff, a long-time critic of Bitcoin, has publicly expressed regret over not investing in it earlier [3]. The increased media attention suggests BTC is gaining traction compared to gold, emerging as a potential frontrunner in the investment arena.
In a surprising move, gold mining company Nilam Resources announced plans to enter the digital asset space. They signed a letter of intent to acquire a significant amount of Bitcoin and other digital assets. The deal hinges on acquiring full ownership of MindWave, a company holding a massive 24,800 Bitcoin. This substantial holding could be used as collateral to secure funding for Nilam's future projects [4].
Nilam's decision to acquire a significant amount of BTC underscores the growing recognition of Bitcoin as a valuable asset class. This move also shines a light on how the potential of BTC is attracting even gold-focused companies. While these companies may have traditionally favored gold due to its proven track record in wealth creation, Nilam's investment suggests that they cannot ignore the potential for future profits offered by BTC.
Traditionally, accumulating gold was a preferred way to preserve wealth, as seen with our grandparents and parents. However, for my generation, crypto, particularly BTC, offers a more attractive alternative. Unlike gold, crypto allows for easier acquisition in smaller amounts and has the potential for higher returns. As a result, gold seems to be falling out of favor as a store of value.
I would like to know your views on BTC and gold:
References:
[1] When will Bitcoin catch up with Gold in capitalization?
[2] Gold Funds See Big Outflows Alongside Rush of Money Into Bitcoin ETFs
[3] Gold Bug Peter Schiff Says He Wishes He'd Bought Bitcoin in 2010
[4] Nilam Resources Enters Letters of Intent to Acquire 24,800 Bitcoin
Update 2024.03.27: The announcement raises doubts about its legitimacy because Nilam, a company with a market value of only $4 million, plans to purchase a massive $1.7 billion worth of Bitcoin.
In a surprising move, gold mining company Nilam Resources announced plans to enter the digital asset space. They signed a letter of intent to acquire a significant amount of Bitcoin and other digital assets. The deal hinges on acquiring full ownership of MindWave, a company holding a massive 24,800 Bitcoin. This substantial holding could be used as collateral to secure funding for Nilam's future projects [4].
Nilam's decision to acquire a significant amount of BTC underscores the growing recognition of Bitcoin as a valuable asset class. This move also shines a light on how the potential of BTC is attracting even gold-focused companies. While these companies may have traditionally favored gold due to its proven track record in wealth creation, Nilam's investment suggests that they cannot ignore the potential for future profits offered by BTC.
Traditionally, accumulating gold was a preferred way to preserve wealth, as seen with our grandparents and parents. However, for my generation, crypto, particularly BTC, offers a more attractive alternative. Unlike gold, crypto allows for easier acquisition in smaller amounts and has the potential for higher returns. As a result, gold seems to be falling out of favor as a store of value.
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?
References:
[1] When will Bitcoin catch up with Gold in capitalization?
[2] Gold Funds See Big Outflows Alongside Rush of Money Into Bitcoin ETFs
[3] Gold Bug Peter Schiff Says He Wishes He'd Bought Bitcoin in 2010
[4] Nilam Resources Enters Letters of Intent to Acquire 24,800 Bitcoin
Update 2024.03.27: The announcement raises doubts about its legitimacy because Nilam, a company with a market value of only $4 million, plans to purchase a massive $1.7 billion worth of Bitcoin.
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