Has BTC really become more attractive than gold? - page 9.

SATWAT

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Quote from: Natalim on March 27, 2024, 04:27:15 PM

Gold remains too popular and is still considered by many people who are not risk-takers. Of course, those who have knowledge about crypto will certainly choose Bitcoin.

In fact, I ask some people in my place, and they never know about Bitcoin at all. It means that many are still innocent and do not know about the existence of Bitcoin. Maybe some people hear about it in the news and read on the internet about scam issues, and turn them off. At this time, Bitcoin has not yet won over gold when it talks about popularity and attractiveness due to scam issues and the strict implementation of the SEC.

This is truth as I also have too many discussions about few things related to investment as I can't do direct about bitcoin due to have no information about this all in my area but still peoples love to invest in Gold instead of going for any other option which is risky for them.
In last few months I have talked about this bitcoin with from 50 only 3 or 4 peoples have name of bitcoin with no one know how to use this and is this investment or how to manage things in this all It's far away from adopting just because of this all I have feeling still peoples love to invest in Gold and also its much attractive thing for them.

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Quote from: freedomgo on March 27, 2024, 04:11:04 PM

Quote from: gunhell16 on March 27, 2024, 05:22:34 AM

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.

Since you are asking us, obviously majority will answer bitcoin. But if we will take this survey into the outside community, I guess majority will chose to invest in gold rather than in bitcoin. Bitcoin is more risky than gold, so for those who have not clear knowledge about bitcoin and would only want to settle to a less risky investment, they would surely prioritize gold. But for those who are risk takers and would want to get out from their comfort zones, they will enjoy and become more challenge to invest in bitcoin rather than sticking with the traditional, quite boring gold.

Can't agree more. If a survey is to be taken outside, more people would actually choose gold,.especially to those who countries who are less familiar with cryptocurrencies. Plus, gold is one of the safest and way lesser volatility than any of the other investments, that you can guarantee to have a much higher value in the future and that could save your fiat's purchasing power from being affected by inflation.
Bitcoin on the other hand bears an ultimate risks, which can also give you way higher returns than gold.
These 2 are actually different type of investments, but I understand why they call bitcoin a digital gold, despite of its risk and high volatility.

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Gold remains too popular and is still considered by many people who are not risk-takers. Of course, those who have knowledge about crypto will certainly choose Bitcoin.

In fact, I ask some people in my place, and they never know about Bitcoin at all. It means that many are still innocent and do not know about the existence of Bitcoin. Maybe some people hear about it in the news and read on the internet about scam issues, and turn them off. At this time, Bitcoin has not yet won over gold when it talks about popularity and attractiveness due to scam issues and the strict implementation of the SEC.

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Quote from: gunhell16 on March 27, 2024, 05:22:34 AM

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.

Since you are asking us, obviously majority will answer bitcoin. But if we will take this survey into the outside community, I guess majority will chose to invest in gold rather than in bitcoin. Bitcoin is more risky than gold, so for those who have not clear knowledge about bitcoin and would only want to settle to a less risky investment, they would surely prioritize gold. But for those who are risk takers and would want to get out from their comfort zones, they will enjoy and become more challenge to invest in bitcoin rather than sticking with the traditional, quite boring gold.

adultcrypto

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In terms of investment, BTC has outshined gold and have proven to be a better investment option in all ramifications. BTC is accessible, more profitable as data have shown, requires little capital to start and can be purchased by all income classes. The security is easier and better. On the other hand, buying physical gold is difficult and requires a lot of processes with the risk of falling into scams. Digital gold such as gold bullion also have a lot of risks and processes that not many would want to go into. SO BTC to me have become more attractive than gold.

Captain Corporate

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It was always good for me, it was always much better. However, if we are talking about general public then yeah I could say its not really all that enticing at the moment and that's why Bitcoin may have gotten better. Gold is something that is too slow right now, and the gap between the young and the old grew exponentially, in the 50's for example, someone that is 30-35 years old vs someone 60 years old didn't had this much gap. With more and more medical improvement,s people live longer, meaning inheritance pass a lot later in life, after you already have a kid, probably that goes to college or more. Thats why its only the salary, and gold would not help with the way it goes up. Bitcoin helps there, its important to get that profit.

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Are you investing in BTC or gold?

I have always been a long time investor of Bitcoin, and I remain an investor of Bitcoin despite it's fluctuating nature as a decentralized digital currency whose value constantly likely to either rise or fall. And as such the earlier people realized Bitcoin being the premium asset for the future, the better for them when it's value skyrocket higher due to high demand over it's limited supply.

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

Yes, Bitcoin has become more attractive than gold in the investment sector due to it's many qualities, such as; (1)it's digital, (2)it can be easily sent from one point to another at a micro seconds, (3)it's volatile, i.e offers huge advantage for "spot trading" and Dollar Cost Averaging method of accumulating more BTC.

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

It times, such media personalities can never be trusted entirely, because to some, what they preach is always totally different from what they practice, hence, confusing those who are not fully enlightened, while taking their ignorance to their personal advantage.

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What do you actually mean by the word attractive here? Now if I am to express my view I believe adoption fits better than attractive. The world is fast evolving and therefore a set of dynamic changes definitely occur from time to time and one of the most vastly exploited change is digital technology hence Crypto currency. From the early era gold adoption increased and gradually started declining since the adoption of paper money around the world therefore if you look closely you would notice the amount of gold assets owned by average people over time has actually reduced.

Bitcoin is actually taking a bigger set of adoption than gold and this is mainly as a result of we being in the digital era.

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

As for this other people's hodling should not be your business rather you should focus on your's. Many people who speak openly against Bitcoin are actually hidden hodlers and whales.

Agbe

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The comparison between Gold and Bitcoin has been discussed for years back and Gold can't be compared to Bitcoin base on volatile and the dynamic nature of bitcoin while Gold is a stable asset but though Gold is also valued in the globe. And before you say bitcoin is a digital Gold, you have to know that there is other cryptocurrency that might even pass Gold both in price and the Market capitalization. You know one of the good about bitcoin, you can use it to buy whatever you want in the internet but you can't use Gold unless you are involved in the market of trade by barter.
As of today being the 27/03/2024 this the Gold price on the chart.

https://www.bullionvault.com/gold-price-chart.do
You can see the highest price of Gold and compare it with bitcoin.

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Not going to compare to two assets -- done to death and decontextualised to the point of frustration.

But from the pure "ooh shiny, I want" aspect?

From my anecdotal evidence, Bitcoin has not improved in the mainstream investor mind in terms of being attractive -- most notably because they feel it's far too easy to get Bitcoin (I know, it's ironic, that ease of access should do this). To get gold, to verify it's authentic (whichever form, physical, digital), and to get in line to buy? That's actually a lot harder to do for gold, and is getting increasingly harder. I recall just a few years back that banks were buying up all the gold they could -- even forcibly from existing customers.

Of course, more banks, now that gold is drying up, are turning to Bitcoin -- when that happens, and yes, I know ETFs did a lot for gold in that regard but it's really when banks are rivals with customers for Bitcoin, that's when that'll glitter.

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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?

Bitcoin has become more attractive to the young who are seeking to have some kind of investments, but not very attractive to many of the older generation to whom bitcoin is still new. If the option between been gifted gold or gifted bitcoin is thrown to a young person, without demanding to know the quantity, many young people will choose bitcoins because it will be easier for them to keep safe as they are more friendly with technology.

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?

It is not impossible. Even if he has not yet accumulated bitcoins now while badmouthing BTC, his opinions may change tomorrow and he will never come out again to say that he has started accumulating bitcoins.

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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.

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.

I guess the comparison between bitcoin and gold will be endless. And as long as bitcoin is now considered as a digital gold, then most likely those gold enthusiasts will definitely make their voice out. However, it won’t be a problem if we accumulate both bitcoin and gold, although we assure bigger allocation for bitcoin, at least we will generate multi profits.

I’m not actually a gold investor but I also believe with the high potentials of gold, but if we come to compare it with bitcoin profits, then it’s undeniable that bitcoin got the highest ROI more than any potential investments.

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Quote from: thecodebear on March 27, 2024, 08:00:11 AM

Quote from: sandos on March 27, 2024, 07:27:38 AM

It's hard to say which one is better. I used to think Bitcoin would replace gold when the world has more young people with open minds. I'm not sure but I have read a report stating that young people in China are now using their savings to buy gold. So, gold remains a good asset when people want to invest. And of course, gold has many uses in real life compared to Bitcoin now. But who knows, maybe the future will be different. Kiss

Bitcoin is literally banned in China. So the average person in China doesn't have access to Bitcoin. Gold would be the best option similar to bitcoin if you can't access bitcoin. But for anywhere in the world where Bitcoin isn't illegal Bitcoin is obviously the far far better option, only lack of education on Bitcoin would lead someone to choose Gold over Bitcoin.

Bitcoin will be much more profitable than gold for those who can access and use it. Because the price of gold increases slowly by a much smaller amount, while the price of bitcoin increases over time, it increases by several times more than gold at the same duration of time between them. However, as the price of Bitcoin increases a lot, its price also decreases very quickly, so those who can take risk should invest in Bitcoin, and those who want to be less risky and want to make less profit, it would be better to invest in gold. So it may be different for different people based on their risk taking ability

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If we see it practically, then Bitcoins are more popular than Gold among the younger generation. For older people it’s completely the different. If you ask me then, yes Bitcoins are more attractive than gold. There are more benefits if you invest in Bitcoins. Bitcoins don’t come with additional charges or taxes, whereas in gold it is regulated by the government and they charges unnecessary taxes. Moreover Bitcoins are easy to store and access due to the digital in nature, where in gold, it’s very difficult to manage it.

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Quote from: BALIK on March 27, 2024, 03:32:34 AM

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?

Yes!

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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.

Nope, this is not only profit, but in everything.

If you want to buy gold, you need to go to offline store or banks, which make everyone know you're buying gold. This harm your privacy.

Risk of getting scammed is high because many people are trying to create a fake gold that's exactly same like a real gold. You could ask professional jeweler to check the authenticity of the gold, but it would cost you and he could scam you.

Actually Bitcoin ETFs is risky, it's same like digital gold since it's just an IOU that pegged with the price of real stuff.

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Quote from: sandos on March 27, 2024, 07:27:38 AM

It's hard to say which one is better. I used to think Bitcoin would replace gold when the world has more young people with open minds. I'm not sure but I have read a report stating that young people in China are now using their savings to buy gold. So, gold remains a good asset when people want to invest. And of course, gold has many uses in real life compared to Bitcoin now. But who knows, maybe the future will be different. Kiss

Bitcoin is literally banned in China. So the average person in China doesn't have access to Bitcoin. Gold would be the best option similar to bitcoin if you can't access bitcoin. But for anywhere in the world where Bitcoin isn't illegal Bitcoin is obviously the far far better option, only lack of education on Bitcoin would lead someone to choose Gold over Bitcoin.

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It's hard to say which one is better. I used to think Bitcoin would replace gold when the world has more young people with open minds. I'm not sure but I have read a report stating that young people in China are now using their savings to buy gold. So, gold remains a good asset when people want to invest. And of course, gold has many uses in real life compared to Bitcoin now. But who knows, maybe the future will be different. Kiss

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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?

Both BTC and goal are very good assets to invest in and you can actually palace one above the other because they are both dynamic and have got their various advantages and disadvantage aswell so it's more like you get to look at thst which suits you well enough such what you are sure you be able to manage so we'll and then you get to invest in it and wait to get profits from it because we all invested just for the sake of profiting, Gold ahs been an old time store of value and even up till day it can still be trusted to be one as it keeps appreciating in it's value and so just like Bitcoin anytime you invest in it isn't late enough as you can still profit from it because it's profitability isn't time bound.

Actually I'm investing in Bitcoin because of its affordability, I understand that you don't have practically have to get so much funds before you can be able to invest in Bitcoin, with a little amount of dollars you can buy in units and be sure to make profit form bit coins buy with gold it's different as you would have to get a certain amount of money before you will be able to purchase gold.

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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?

Both BTC and goal are very good assets to invest in and you can actually palace one above the other because they are both dynamic and have got their various advantages and disadvantage aswell so it's more like you get to look at thst which suits you well enough such what you are sure you be able to manage so we'll and then you get to invest in it and wait to get profits from it because we all invested just for the sake of profiting, Gold ahs been an old time store of value and even up till day it can still be trusted to be one as it keeps appreciating in it's value and so just like Bitcoin anytime you invest in it isn't late enough as you can still profit from it because it's profitability isn't time bound.

Actually I'm investing in Bitcoin because of its affordability, I understand that you don't have practically have to get so much funds before you can be able to invest in Bitcoin, with a little amount of dollars you can buy in units and be sure to make profit form bit coins buy with gold it's different as you would have to get a certain amount of money before you will be able to purchase gold.

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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 obviously

2. There is pretty much zero reason to invest in gold these days, because Bitcoin exists. Pretty much the only reason anyone would still be buying Gold as an investment instead of Bitcoin these days is due to lack of education on Bitcoin, or maybe a little bit just tradition like for people who buy Bitcoin but still own or buy some gold simply because its a traditional thing to own.

3. Couldn't care less about Schiff, he's a bitcoin hater and is obviously clueless on bitcoin.

Not surprising that a gold company wants to get into Bitcoin. While Gold will always be valuable, we will definitely see a shift over the next couple decades from people moving resources and money from Gold to Bitcoin because there is just no comparison, Bitcoin is simply far better. It is obvious that Bitcoin market cap will eventually pass Gold's market cap. And since Bitcoin is currently just under 10% of Gold's market cap that means over the next 2-3 decades or however long it'll take for Bitcoin to surpass Gold, Bitcoin is going to outgrow Gold by 10x, so the only reason anyone would be in Gold rather than Bitcoin is because they aren't yet educated enough on Bitcoin.

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