Topic: How Bitcoin differs from gold - page 3. (Read 395 times)

The difference between Bitcoin and gold is very obvious. The total amount of Bitcoin is 2,100w, and the total amount of gold will always be discovered and increased. When the number of gold mined becomes more and more, it will affect the price of gold. The trend has an impact. When Bitcoin is mined, the price is not affected too much! What is certain is that more and more gold investors have begun to switch to investing in Bitcoin, which also has a great relationship with the total amount and mechanism of Bitcoin!

What makes Bitcoin more attractive than gold is that Bitcoin is unique. Decentralization is not regulated. This is different from gold. The characteristics of the two assets are different. Relatively speaking, Bitcoin is more risky. For example, some traditional investors may not believe in virtual currencies, so each has its own characteristics. If you want to obtain greater profits, you have to bear year-on-year risks. Small-risk investments also have less returns.

Gold is the same as Bitcoin. Both are investment products with investment and collection value. There are similarities and differences. Gold has been around for a long time, and its value is stable. It is suitable for investors who do not want too much risk. Investment, in the age when virtual networks are developed, many people are still afraid of being deceived in virtual networks. Gold is a real thing, which may be even more convincing. But how to choose depends on your own ideas. Each asset has its own benefits.

I have been in existence before you so does that mean you have to die because I am older and more experienced?
Friendster and MySpace was the thing before as social media outlet now it's Facebook and Twitter.
What does it all mean?
Something new will be discovered but it doesn't mean we should forget our traditional way of keeping assets. We can support them both but one of them will always have the upper hand. Each investor will have to make their own choice of what they prefer. No one is forcing.
My wife prefers keeping gold accessories while I am into Bitcoin. We never had a problem about it.

Naturally, Bitcoin and gold differ primarily by their history, the history that Gold has for centuries is remarkable, BTC began since 2009, which has gone through a series of events where many have called it Bubble, but Due to the high volatility, BTC tends to have and fulfill its market phases much faster than gold, that is, its accumulation stage, uptrend, Distribution stage and downtrend to enter the cycle again, it usually occurs in little time, of course gold is much more stable and is considered one of the assets that can carry out the worst of all crises in a nation, I think that the main difference between BTC and Gold lies in its history and trust.

1.Bitcoin has both the attributes of assets and currency, but gold is just an asset.
2.The number of bitcoins is fixed and limited, and will not increase mining at will, and has the property of fighting inflation.
3.Bitcoin can be divided, and it is traded and stored on the Internet, which is easy to carry and transfer transactions around the world. Gold is not easy to divide, it is also easy to wear while carrying, the transaction speed is slow and it is not easy to transfer.
4.Gold is regulated by the government. The decentralization of bitcoin is not regulated by any government agency, and the assets are free and fully controlled by themselves.

Both of them are slightly differs because cryptocurrency is made of subbranch of bitcoin and it's obviously called a digital currency, the values of bitcoin can't be use to compare to the value of gold currently, irrespective that Gold come into existence before a massive adoption of crypto and more especially bitcoin, i think the liquidity of bitcoin is approximately times ten more than gold, so it's quite understandable from the bases of bitcoin and gold in different domain.

For me I believe that Bitcoin and gold are two different things, although they might have a little things in common. But if we’re to be looking at it that way, then there are lots of commodity or assets and has same features such as gold. So if we’re to start looking at it that way, then all of them would have been called gold as well. For media different and should be called whatever they’re named. I don’t see Bitcoin as a digital gold, I see it simply  as Bitcoin. They’re both totally different from each other, gold is physical and is mind from earth, why Bitcoin is digital and is mind using the Internet.

Gold is just an asset, Bitcoin is a currency and yes it is accumulated as much as it can be and stored as an asset hoping it will certainly yield huge profits than gold. If govts accept Bitcoin as an asset and allow it to use everywhere then yes, number of gold investors might focus on Bitcoin.

Speaking from a vast perspective, gold market and crypto market are manipulated simultaneously so that each receive investment equally at one or the other point. We need to look at it very closely.

I guess by stable you mean the price fluctuation isn't extreme. But I wonder what you mean by "it's regulated by government". What part of gold is regulated exactly, is it the price, supply, how it's mine, etc? Bitcoin regulation is code based and that somewhat affects the price too. A kind of regulation that keeps price fluctuation moderate without compromising on its deflation should be decentralized.

 What exactly is centralized about Gold? You mean how modern humans have hoarded and centralized it, or is it about supply and mining regulations? How does centralizing our collective resources sound to you, fair? If it was suppose to be centralized, our CREATOR would have created it centralized. By the way, Our natural resources are naturally decentralized and artificially centralized. It's more like saying water is centralized because of artificial water reservoirs... Or seas, rivers that humans claim to control/own.
 You can mine, sell and hold gold depending on where you live. Maybe it's centralized in the part of your world. I know of places where you mine natural resources freely.

There are things that have already been taken care of by Bitcoin, like supply regulation. Other regulations should be handled in similar manner. Centralized government regulations will only ruin it.

There is a great similarity between Bitcoin and gold, although there are also big differences, but in my opinion, Bitcoin beats gold:
1 - Ease of dealing with it and sending it to anywhere in the world across the border in a short period of time, while this is not possible for gold.
2 - The ease of protecting bitcoin through a wallet and a private key only, while protecting gold requires highly guarded banks and costs a lot of money and equipment.
While gold beats bitcoin by:
1- A brilliant material asset that has great confidence in all people and does not lose its value over time, but rather maintains its value permanently.
2 - Bitcoin needs the presence of electricity and the Internet, while gold stands on its own and does not need the presence of anything else, so in the event of an emergency that leads to the stopping of electricity and the Internet, Bitcoin loses its value, while gold cannot lose its value in any way.

Exactly. Bitcoin is portable, while Gold is not. You can store Bitcoin in the smallest place you can imagine. But that's not the case with Gold. In some sense, this makes Bitcoin better than Gold. Anyone can carry Bitcoins anywhere in the world without getting noticed (sort of). Everybody knows how much Bitcoin exists in the world (which is 21 million), but the same cannot be said about Gold. The pioneer cryptocurrency brings the best of both worlds by combining the scarcity of Gold and the versatility of traditional currencies. You can use Bitcoin as a currency or as a store of value for long-term wealth preservation. It may not be perfect, but it's striving to get there. Both Gold and Bitcoin will have their own supporters and haters. Neither will replace the other because they're completely different asset types. I'm fine with that as long as people have an escape route from the current monetary system. Just my opinion

In the investment world, both have weak and strong points, but I still more emphasis on Bitcoin. We know that gold is like a traditional thing, but Bitcoin is something that has entered the modern era, which was created had a lot of very good responses so that its advantages seem to have surpassed gold in general. In helping human finances/human economic life, I think Bitcoin has more roles than gold.

However, if we look at the last few years I think cryptocurrencies are really growing rapidly,
many people are getting to know and start investing or trading in cryptocurrencies especially bitcoin,
apart from it all for me personally both gold and bitcoin are valuable assets because we know every year usually the price goes up

The price of gold is determined by its largest buying/selling demographic.

The largest HODLers of gold are by far central banks and holdings such as fort knox in the USA.

Gold isn't regulated by governments. It has become common for news reports of counterfeit gold bars and coins to be published. Governments do nothing to regulate or protect the integrity of gold and precious metals markets.


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.


Gold markets which determine the value of gold are centralized by the largest traders of gold. Who are central banks.

Haha, even I am hearing that gold isn't centralized and regulated for the first time. Actually, if anything we can hold and hide was decentralized then all the cash we have is technically decentralized as well

The key differences between gold and bitcoins are:

1- Gold is stable, Bitcoin is volatile
2- This point might be for me only but BTC is a currency while Gold is an asset.
3- Gold is unlimited while bitcoins are not.

The last point also underlines why so many investors are moving towards Bitcoins .

Your post is an accumulation of nonsense, as some have already pointed out. It seems to me that you have written it without paying attention or thinking much about what you say, for example you say:


which is false, as pointed out by BlackHatCoiner, but it is not based on the article you cite (obviously because those who write these articles do research and check it before publishing it).

Of the things that others have pointed out as incorrect, this one has not been mentioned:


Take a look at this and you will see how wrong you are:

https://companiesmarketcap.com/assets-by-market-cap/

Next time do your research better.

It's stable compared to bitcoin although it's not going great but you have to understand that gold will always have a demand as well as bitcoin. What? Gold isn't regulated? Where did you get that idea from?

Bitcoins and Gold are way different as compared to each other than that they have to understand the fact that there is no need to actually compare them in the first place. Since bitcoins and cryptocurrencies are ways apart, you have to see that gold is a traditional currency which is something that people use all around the world, cryptocurrencies are more dependent on the mobile operations and the knowledge about the basic trading. But with gold you just go and buy, there are companies who are selling traditional gold as well as gold stocks. Bitcoins is way stronger but manipulations are ofcourse gonna be there as well .

No, I don't think so. You put your Bitcoin anywhere, Bitcoin remains the same. It doesn't transform from intangible to tangible simply because you are using a hardware wallet. If you move your Bitcoin from your software wallet to your hardware wallet, your Bitcoin didn't actually move to your hardware wallet, so that even if your hardware wallet is destroyed, lost, or stolen it doesn't mean your Bitcoin is also destroyed, lost, or stolen. Bitcoin is always intangible. Even those so called physical Bitcoins are not really Bitcoin. They're physical coins bearing the private keys to the Bitcoin stored in the blockchain.