Topic: How Bitcoin differs from gold (Read 395 times)
Bitcoin is the digital gold that beat all investments and broke all benchmarks. Both gold and Bitcoin have advantages and disadvantages. For example, the huge price fluctuations that occur for Bitcoin will not be found in gold. Also, the huge profitability increases that occur with Bitcoin, you will not find in gold. Governments primarily use gold to hold fiat currency value, whereas investors use Bitcoin as a store of value.
What you say can indeed come true, if we see the popularity of Bitcoin continues to increase and more and more people are starting to choose to invest in Bitcoin over Gold. Moreover, millennials have started to focus on all things digital, then Bitcoin has also proven to be more profitable than Gold.
So indeed as time goes on there is a possibility that the demand for Gold will decrease. For now, investing in Gold is still safe and profitable, but we don't know what will happen in the future if we see Bitcoin's development is growing rapidly. Moreover, if many countries start to make Bitcoin a legal tender, many people will focus on investing in Bitcoin compared to other assets.
Millennial is just one aspect of it, we have now Z generation that grew up with bitcoin being a good and big thing. They do not remember the period when bitcoin was seen as a bad investment and all those talks about how it will be zero. Right now anyone who is 20 or so or even maybe younger thinks that bitcoin is this, the current thing, but they do not remember 10 years ago, or even 5-6 years ago when people were mocked for being interested in it.So indeed as time goes on there is a possibility that the demand for Gold will decrease. For now, investing in Gold is still safe and profitable, but we don't know what will happen in the future if we see Bitcoin's development is growing rapidly. Moreover, if many countries start to make Bitcoin a legal tender, many people will focus on investing in Bitcoin compared to other assets.
This means the more we live, the regular it will become and crypto will be something that everyone will be using not only because it is a great thing but also because they have lived with it all their lives. Think about people who are 10-12 year old right now, when they are 20+ in 10 years they will be adults who lived in an age bitcoin was a thing, never seen anything before bitcoin, their birthday is younger than bitcoins.
this is not without reason, because indeed the problem felt by most teenagers today is the lack of literacy which is indeed very difficult to enforce in today's younger generation.
maybe even for now they may know that crypto especially bitcoin is a good thing to adopt and own as an asset but I'm sure there are still many people who really don't know the history of bitcoin even in the beginning.
because indeed for now what you want to see is the result of the goal to be achieved from bitcoin, not the initial process until bitcoin is now.
The difference between the two assets is very clear that gold is a real value that can be held and used practically. On the contrary bitcoin is a currency of technology and it only exists when there is an internet connection this is inconvenient about bitcoin i always think that if we are in a place where there is no network then gold is still the best choice. And there is another difference that because bitcoin is decentralized so it cannot be tracked by the government because there is no 3rd person to transact bitcoin, this is different from gold because gold is more modern but still has interference.
What you say can indeed come true, if we see the popularity of Bitcoin continues to increase and more and more people are starting to choose to invest in Bitcoin over Gold. Moreover, millennials have started to focus on all things digital, then Bitcoin has also proven to be more profitable than Gold.
So indeed as time goes on there is a possibility that the demand for Gold will decrease. For now, investing in Gold is still safe and profitable, but we don't know what will happen in the future if we see Bitcoin's development is growing rapidly. Moreover, if many countries start to make Bitcoin a legal tender, many people will focus on investing in Bitcoin compared to other assets.
Millennial is just one aspect of it, we have now Z generation that grew up with bitcoin being a good and big thing. They do not remember the period when bitcoin was seen as a bad investment and all those talks about how it will be zero. Right now anyone who is 20 or so or even maybe younger thinks that bitcoin is this, the current thing, but they do not remember 10 years ago, or even 5-6 years ago when people were mocked for being interested in it.So indeed as time goes on there is a possibility that the demand for Gold will decrease. For now, investing in Gold is still safe and profitable, but we don't know what will happen in the future if we see Bitcoin's development is growing rapidly. Moreover, if many countries start to make Bitcoin a legal tender, many people will focus on investing in Bitcoin compared to other assets.
This means the more we live, the regular it will become and crypto will be something that everyone will be using not only because it is a great thing but also because they have lived with it all their lives. Think about people who are 10-12 year old right now, when they are 20+ in 10 years they will be adults who lived in an age bitcoin was a thing, never seen anything before bitcoin, their birthday is younger than bitcoins.
Most people, especially the younger generation, are lazy to study history. So what you're saying does make sense, because the younger generation
will definitely not know how the history of Bitcoin, they are just crazy about advanced technology. For the younger generation Bitcoin is a normal
thing, so it is not unusual for the younger generation to invest in Bitcoin. We know most of the younger generation really like freedom, knowing
Bitcoin cannot be controlled by the government, it will increase the enthusiasm of the younger generation. So in the future the Bitcoin adoption
process will be faster, so collecting Bitcoins from now on is the right decision.
Gold requires hard human and physical labour to be acquired while Bitcoin required high computer skills and operations even though they both have the term "mining" as to how they got generated.
Steve Wozniak made a great point on this. He said that technology for detecting and extracting gold from the earth would improve over time. While technology improvements for mining bitcoin would remain steadily constant, no matter what breakthroughs in bitcoin mining occurred. This infers that the price and value of bitcoin, could retain greater stability over precious metals and gold. At least as far as the mining aspect goes.
But this is not true for gold, the ocean is a place where gold mining has not occurred as it did on land, once we get that technology the rate at which gold will be mined will be many times greater than what we see now, creating inflation and a decrease in the value of gold.
Of course there are many differences between gold and bitcoin, as we know that bitcoin is very popular nowadays but I'm not sure it will last for another 100 years. gold is the safest investment because people have known gold since thousands of years ago, gold can be received anytime, anywhere and anyone, even 2 countries that are at war when transacting then they will use gold.
and the most prominent difference is the level of price fluctuations, where the level of gold price fluctuations tends to be low and the level of bitcoin price fluctuations is very high. therefore the risk of investing in bitcoin can be said to be very high, but the high risk of investing in bitcoin is also accompanied by a large return.
Of course bitcoin and gold are 2 very different types of investment, gold has been a tested investment thousands of years ago and I'm sure it will still be valuable for thousands of years, even though the stock of gold continues to grow but the demand for gold is always high so it never drops significantly, for bitcoin we still doubt whether it can last up to another 25 years or not, but the most important point is that we use both for big profits.
Well all I have to say about this comparison is that, Gold as we all know is a physical asset that has been in existence since the beginning of this world, and gold is one of the greatest assets of all time that reach people use to beautify there houses due to how expensive it is, while Bitcoin is a digital asset with high recommendation in the entire world today, bitcoin came into existence in the 20th century and has become very important asset that give us high control of our assets. Therefore Gold is an oldest asset that will be valued day by day and also Bitcoin is also valued. So both of them are great assets but Gold is a physical asset while Bitcoin is a Digital asset.
The one thing that bitcoin could do is that gold couldn't offer its users convenience. Safekeeping is a herculean task if you are to invest and buy gold for yourself because no matter what happens there will always be someone out there who could get their hands on your safe and steal your gold. On the other hand, bitcoin is so secure that even those who outrightly own their supply get locked out when they forget the passphrase, the safe key, or whatever security measure they placed in the first place.
Gold can be used as an investment or as a commodity for purchase. Bitcoin is a project that everyone has chosen to invest in in recent years. Bitcoin is easy to carry, has a relatively high value, and has anonymity. Nowadays, many people choose to use Bitcoin as a payment method, which can protect our privacy. You can invest in either. If you are richer, you can invest in both at the same time.
Bitcoin could be used for investments and as a store-of-value, as well as a fully-fledged currency that people could use to facilitate transactions. Whatever gold could do, bitcoin could do it better. If not only for the volatile nature of bitcoin and other cryptocurrencies the transition between cryptocurrency and fiat will be much faster and would've happened ages ago. But reality is often disappointing, so here we are right now. 
Gold can be used as an investment or as a commodity for purchase. Bitcoin is a project that everyone has chosen to invest in in recent years. Bitcoin is easy to carry, has a relatively high value, and has anonymity. Nowadays, many people choose to use Bitcoin as a payment method, which can protect our privacy. You can invest in either. If you are richer, you can invest in both at the same time.
Gold has been around for thousands of years and is legal all over the world. If used as a store of assets, gold is a better store of assets than bitcoin because gold is less volatile. Bitcoin has high value but very high volatility. People invest in bitcoin hoping to profit from its volatility. You are a safe person, you should buy gold and store it, you are a risk-taker, invest in bitcoin. 
Of course there are many differences between gold and bitcoin, as we know that bitcoin is very popular nowadays but I'm not sure it will last for another 100 years. gold is the safest investment because people have known gold since thousands of years ago, gold can be received anytime, anywhere and anyone, even 2 countries that are at war when transacting then they will use gold.
Gold can be used as an investment or as a commodity for purchase. Bitcoin is a project that everyone has chosen to invest in in recent years. Bitcoin is easy to carry, has a relatively high value, and has anonymity. Nowadays, many people choose to use Bitcoin as a payment method, which can protect our privacy. You can invest in either. If you are richer, you can invest in both at the same time.
With the little summary from my perspective what I see as difference between gold and Bitcoin.
Firstly gold is a physical commodity asset While Bitcoin is a digital currency/asset and with this, they are the two major assets on the economy trend on investment and with the highest bids on commodity price.
Gold is stable and regulated by government while Bitcoin is volatile and not regulated by government.
Gold requires hard human and physical labour to be acquired while Bitcoin required high computer skills and operations even though they both have the term "mining" as to how they got generated.
Gold is centralized while Bitcoin is decentralized.
Gold has been in existence before ages while Bitcoin got into existence 2009
Relevant opinions are welcome,
all that you mentioned had been already posted here in forum thousand time before , and you have not stated any difference from all of the conversation i come across this forum for years now.Firstly gold is a physical commodity asset While Bitcoin is a digital currency/asset and with this, they are the two major assets on the economy trend on investment and with the highest bids on commodity price.
Gold is stable and regulated by government while Bitcoin is volatile and not regulated by government.
Gold requires hard human and physical labour to be acquired while Bitcoin required high computer skills and operations even though they both have the term "mining" as to how they got generated.
Gold is centralized while Bitcoin is decentralized.
Gold has been in existence before ages while Bitcoin got into existence 2009
Relevant opinions are welcome,
but in all of that, it is mining that takes my intention and yes gold is hard to mine nowadays same as bitcoin , year after year the mining gets slower and slower and the whole 21 million bitcoin will be mines estimated for more than 20 years from now.
Gold and bitcoin is totally different from each other in the first place because their ability was unique as people trusted them. Bitcoin as digital asset has an advantages with respect to faster transactions, and fast adoption for each investors who desires to hold cryptocurrency. On Gold's physical value, it was an amazing thing as it's used as jewelry which increased a sustainable value as years gone by. Also, nowadays there digital asset that used gold as their name that depends on how their price moves along marketplace.
As far as I know, Gold is not centralized. Given the current state, Gold can be bought legally and illegally as well same as Bitcoin. Not all Gold is tagged nor is the distribution are controlled by the Government. It would be centralized if the source of Gold was the Government itself, I think that's quite impossible in this era.
For the question of how it differs from one to another;
Well a lot, though one of the easiest is that Bitcoin is virtually available and Gold can be both.
Bitcoin is somehow Illegal in some countries but Gold isn't.
Both can be mined, Bitcoin virtually while Gold manual labor per see.
THough there are still a lot.
For the question of how it differs from one to another;
Well a lot, though one of the easiest is that Bitcoin is virtually available and Gold can be both.
Bitcoin is somehow Illegal in some countries but Gold isn't.
Both can be mined, Bitcoin virtually while Gold manual labor per see.
THough there are still a lot.
At the end of the day, they're both good store of values in the long run and you are likely to outperform fiat by holding either of them.
But I just think that bitcoin is the better transactional token overall.
It has a more precise fixed supply compared to gold, the transaction costs are much lower (despite what people make it seem like), there are no storage costs, and the units are technically infinitely divisible. I think that as the new generation comes by, they'll realize increasingly that gold & other precious metals are very clunky and move toward cryptos.
But I just think that bitcoin is the better transactional token overall.
It has a more precise fixed supply compared to gold, the transaction costs are much lower (despite what people make it seem like), there are no storage costs, and the units are technically infinitely divisible. I think that as the new generation comes by, they'll realize increasingly that gold & other precious metals are very clunky and move toward cryptos.
What you say can indeed come true, if we see the popularity of Bitcoin continues to increase and more and more people are starting to choose to invest in Bitcoin over Gold. Moreover, millennials have started to focus on all things digital, then Bitcoin has also proven to be more profitable than Gold.
So indeed as time goes on there is a possibility that the demand for Gold will decrease. For now, investing in Gold is still safe and profitable, but we don't know what will happen in the future if we see Bitcoin's development is growing rapidly. Moreover, if many countries start to make Bitcoin a legal tender, many people will focus on investing in Bitcoin compared to other assets.
Millennial is just one aspect of it, we have now Z generation that grew up with bitcoin being a good and big thing. They do not remember the period when bitcoin was seen as a bad investment and all those talks about how it will be zero. Right now anyone who is 20 or so or even maybe younger thinks that bitcoin is this, the current thing, but they do not remember 10 years ago, or even 5-6 years ago when people were mocked for being interested in it.So indeed as time goes on there is a possibility that the demand for Gold will decrease. For now, investing in Gold is still safe and profitable, but we don't know what will happen in the future if we see Bitcoin's development is growing rapidly. Moreover, if many countries start to make Bitcoin a legal tender, many people will focus on investing in Bitcoin compared to other assets.
This means the more we live, the regular it will become and crypto will be something that everyone will be using not only because it is a great thing but also because they have lived with it all their lives. Think about people who are 10-12 year old right now, when they are 20+ in 10 years they will be adults who lived in an age bitcoin was a thing, never seen anything before bitcoin, their birthday is younger than bitcoins.
you have a point on this. for younger generations who didn't see the rough start of bitcoin, they will assume that bitcoin is already in a good place even before they learned it. they won't know all those negative criticisms, unless, they dig the history and read all past comments about it. anyway, years from now, we may see bigger adoption of bitcoin or crypto, and maybe in some areas like El Salvador, living everyday with bitcoin or crypto would just be a normal thing as they started now integrating btc in their financial ecosystem. but we can't deny the fact that gold is a tangible asset that you can't discard its significance in human history. let alone, its vital uses in many industries like electronics.
What you say can indeed come true, if we see the popularity of Bitcoin continues to increase and more and more people are starting to choose to invest in Bitcoin over Gold. Moreover, millennials have started to focus on all things digital, then Bitcoin has also proven to be more profitable than Gold.
So indeed as time goes on there is a possibility that the demand for Gold will decrease. For now, investing in Gold is still safe and profitable, but we don't know what will happen in the future if we see Bitcoin's development is growing rapidly. Moreover, if many countries start to make Bitcoin a legal tender, many people will focus on investing in Bitcoin compared to other assets.
Millennial is just one aspect of it, we have now Z generation that grew up with bitcoin being a good and big thing. They do not remember the period when bitcoin was seen as a bad investment and all those talks about how it will be zero. Right now anyone who is 20 or so or even maybe younger thinks that bitcoin is this, the current thing, but they do not remember 10 years ago, or even 5-6 years ago when people were mocked for being interested in it.So indeed as time goes on there is a possibility that the demand for Gold will decrease. For now, investing in Gold is still safe and profitable, but we don't know what will happen in the future if we see Bitcoin's development is growing rapidly. Moreover, if many countries start to make Bitcoin a legal tender, many people will focus on investing in Bitcoin compared to other assets.
This means the more we live, the regular it will become and crypto will be something that everyone will be using not only because it is a great thing but also because they have lived with it all their lives. Think about people who are 10-12 year old right now, when they are 20+ in 10 years they will be adults who lived in an age bitcoin was a thing, never seen anything before bitcoin, their birthday is younger than bitcoins.
Very soon gold will be less valued than Bitcoin cause the price of Bitcoin had already surpass gold which is a natural resources, being mined from the Earth crust. Bitcoin is a digital asset and it's value always depend on many factors moving it price to be versatile. Although Gold is also versatile, maybe some persons can choose Gold because it physical treasure.
If the material of gold is not much anymore, the price of gold can soar to the high price and people will use gold as a rare thing and keep it in a secret place. Bitcoin could be the same as gold as the number of bitcoin will be less but the value will be increase so high. The difference between bitcoin and gold is because of the forms and we know that bitcoin does not have physical forms while gold has physical forms.
Gold is a physical asset, and bitcoin is a virtual currency.
Gold has a long history of development and has gained widespread consensus in the world. Bitcoin has been in development for more than a decade and is still in its infancy.
Bitcoin is decentralized and can freely control personal assets. Its storage and transactions are on the Internet, so it is safer and more convenient than gold storage.
Gold has a long history of development and has gained widespread consensus in the world. Bitcoin has been in development for more than a decade and is still in its infancy.
Bitcoin is decentralized and can freely control personal assets. Its storage and transactions are on the Internet, so it is safer and more convenient than gold storage.
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