Another thing is, who really "uses" gold? Honestly? When was the last time anyone made any payments with gold? Do not give me weird examples of certain industries or weird people, its not common at all and people don't do it. So what do we do? Well some people use it while building stuff, but %90+ of the gold in the world sits in banks vaults and governments vaults and we just change the ownership of it from one person to another digitally and thats it, thats literally it, nobody uses it, they are just bunch of useless stuff. Bitcoin maybe a good investment, but it is also used a lot, and that matters to me.
I agree with you. Generally we see the use of gold basically in bank lockers. But very little in terms of usage. The use of Bitcoin in this respect is truly immense. Which has application in real life. Not only that, the possibility is also increasing in the coming days. Gold is a natural resource whose quantity is infinite whereas Bitcoin has a maximum of 21 million. It is very easy to predict the future condition of bitcoin. 
Topic: I do believe that Bitcoin will be more scarce than gold (Read 754 times)
Another thing is, who really "uses" gold? Honestly? When was the last time anyone made any payments with gold? Do not give me weird examples of certain industries or weird people, its not common at all and people don't do it. So what do we do? Well some people use it while building stuff, but %90+ of the gold in the world sits in banks vaults and governments vaults and we just change the ownership of it from one person to another digitally and thats it, thats literally it, nobody uses it, they are just bunch of useless stuff. Bitcoin maybe a good investment, but it is also used a lot, and that matters to me.
I agree with you. Generally we see the use of gold basically in bank lockers. But very little in terms of usage. The use of Bitcoin in this respect is truly immense. Which has application in real life. Not only that, the possibility is also increasing in the coming days. Gold is a natural resource whose quantity is infinite whereas Bitcoin has a maximum of 21 million. It is very easy to predict the future condition of bitcoin.
We all know the total supply of bitcoin, and only 21 million in this crypto currency world,
while gold we never know, but we know that gold is also limited
especially in 2022, there are only 3 million bitcoins left, of course this will make bitcoin rare in the future,
hopefully the price will also go up!
while gold we never know, but we know that gold is also limited
especially in 2022, there are only 3 million bitcoins left, of course this will make bitcoin rare in the future,
hopefully the price will also go up!
bitcoin investment is the choice for young people in this era, because we are very easy to store it,
no need to be complicated, just need an android, and download a wallet,
this is why young people love it, I also like it, even though the price is going down,
That is one reason that is very simple and easy to explain besides the reason for the price increase that could occur in Bitcoin in the future. Because if those young people you're talking about have invested in Bitcoin now, I think there's a bit of a delay for them because if they had done that earlier, they would have made better profits last year and now. no need to be complicated, just need an android, and download a wallet,
this is why young people love it, I also like it, even though the price is going down,
Another thing is, who really "uses" gold? Honestly? When was the last time anyone made any payments with gold? Do not give me weird examples of certain industries or weird people, its not common at all and people don't do it. So what do we do? Well some people use it while building stuff, but %90+ of the gold in the world sits in banks vaults and governments vaults and we just change the ownership of it from one person to another digitally and thats it, thats literally it, nobody uses it, they are just bunch of useless stuff. Bitcoin maybe a good investment, but it is also used a lot, and that matters to me.
Electronic industry uses gold. They use it for electroplating chemical, gold bonding wire and sputter targets[1] So there is a fixed demand for gold, if you are asking if there is any. But I believe that Bitcoin is scarcer than gold for the reason that Bitcoin has fixed supply and and hte possibility of lost private keys to access the bitcoin wallet. While there is no known fact about the total supply of gold while it is continuously mined.
[1] https://link.springer.com/content/pdf/10.1007/BF03214833.pdf
Base gold usage is rising for over a decade, probably this whole century. Its not easy to argue that exactly as usage would be indirect in reserve but the main reason is we move away from the Dollar global reserve currency again hard to argue with DXY at twenty year highs but you know how much value has been lost so thats why alternatives are rising, haphazardly.
Gold does have industrial use but I believe its mostly Jewelry or a reserve asset. This does qualify as usage because you have the gold as a counterbalance to your other more volatile activities. When a bank issues currency or even a private bank issues debt, they have this asset or similar 'safe' reserves as some guarantee of payment for the more risky ventures and loans taken.
We can say gold is pointless if you like, its inert and has no yield, it costs to store it safely but it does have a 4 thousand year old track record in its demand and I dont disregard that continuing this century. Recent attempts to swap gold with tier 1 housing debt turned into a bad joke when the standards required were not kept and with no quality to the best reserve assets kept by banks they all faced collapse. With gold its a very simple check to its quality or not, I can say it right now you melt down the gold till its purely an element like all gold is and thats it. Every central bank in the world will melt all gold it buys and reforge its own bars, I'd guess private banks dont always but anyhow the test is simple.
Unfortunately we live in a complicated world, I wont argue anything in favor of gold except it is a unique element easy to test quality for; simplicity. Our other value held, assets, commodities are variable and sometimes they fail in demand; the biggest pessimist then will say failure means gold is most valuable and nothing can challenge that. Not true as gold is not truly essential , but as a reliable commodity I'd agree as other commodity demand does vary so much you can broke holding the wrong one.
The argument for crypto vs gold is that BTC is not even trying to be the same type of asset but BTC is unique so I think its qualifying in that important way and I hope it becomes a simple testable form of value also, its fungible, highly divisible, liquid & easily exchangeable. There's similarities but they arent the same or close imo.
Gold does have industrial use but I believe its mostly Jewelry or a reserve asset. This does qualify as usage because you have the gold as a counterbalance to your other more volatile activities. When a bank issues currency or even a private bank issues debt, they have this asset or similar 'safe' reserves as some guarantee of payment for the more risky ventures and loans taken.
We can say gold is pointless if you like, its inert and has no yield, it costs to store it safely but it does have a 4 thousand year old track record in its demand and I dont disregard that continuing this century. Recent attempts to swap gold with tier 1 housing debt turned into a bad joke when the standards required were not kept and with no quality to the best reserve assets kept by banks they all faced collapse. With gold its a very simple check to its quality or not, I can say it right now you melt down the gold till its purely an element like all gold is and thats it. Every central bank in the world will melt all gold it buys and reforge its own bars, I'd guess private banks dont always but anyhow the test is simple.
Unfortunately we live in a complicated world, I wont argue anything in favor of gold except it is a unique element easy to test quality for; simplicity. Our other value held, assets, commodities are variable and sometimes they fail in demand; the biggest pessimist then will say failure means gold is most valuable and nothing can challenge that. Not true as gold is not truly essential , but as a reliable commodity I'd agree as other commodity demand does vary so much you can broke holding the wrong one.
The argument for crypto vs gold is that BTC is not even trying to be the same type of asset but BTC is unique so I think its qualifying in that important way and I hope it becomes a simple testable form of value also, its fungible, highly divisible, liquid & easily exchangeable. There's similarities but they arent the same or close imo.
Another thing is, who really "uses" gold? Honestly? When was the last time anyone made any payments with gold? Do not give me weird examples of certain industries or weird people, its not common at all and people don't do it. So what do we do? Well some people use it while building stuff, but %90+ of the gold in the world sits in banks vaults and governments vaults and we just change the ownership of it from one person to another digitally and thats it, thats literally it, nobody uses it, they are just bunch of useless stuff. Bitcoin maybe a good investment, but it is also used a lot, and that matters to me.
Meanwhile, gold production has increased every year. Unlike Bitcoin, which is limited to 21 million and this amount can no longer be added by anyone and will be more valuable when the amount runs out.
But the unique thing is that the price of gold does not decrease too much every year and so does the increase every year, so some people say that gold tends to have a stable price and little profit if used for investment. And in fact it is very different from Bitcoin, although it does not have a stable price in the market, but many people have benefited by investing and trading through Bitcoin on several exchanges.Conditions like today make people think Gold has a stable price.
Could it be because of macroeconomic factors that made the crypto market turn red again?
Bitcoin is much more scarce than gold, but I don't think btc can replace the demand for gold. Thinking proportionally, gold will be always much more demanded than btc and consequently its supply will be never enough.
Depending the currently market's sentiments, it's possible investors adopt a more conservative behavior, avoiding crypto for now and going for gold. Sometimes it's not exactly because macroeconomic factors which influence and impact us daily also during bullish seasons, but simply due to speculative factor lead by whales and followed by other investors.
currently there are only about 2 million Bitcoins that have not been mined which means that very little is left of the 21 million supply and of course it will be increasingly difficult to mine it with a very small number of reward blocks, that's why bitcoins are rarer but unfortunately the price touched $20k is a very cheap price bitcoin should have remained at $60k as the lowest price figure
Bitcoin continues to work as expected though, more than a decade after genesis.
The price swings are just caused by many external factors, but fundamentally Bitcoin has never been stronger. And it will continue to get stronger every block.
The price in the long term will continue to rise, both because it's priced in fiat which loses purchasing power over time, and also because more and more people will want to get access to Bitcoin over the decades, but there's only a finite amount of it.
no need to be complicated, just need an android, and download a wallet,
this is why young people love it, I also like it, even though the price is going down,
Meanwhile, gold production has increased every year. Unlike Bitcoin, which is limited to 21 million and this amount can no longer be added by anyone and will be more valuable when the amount runs out.
But the unique thing is that the price of gold does not decrease too much every year and so does the increase every year, so some people say that gold tends to have a stable price and little profit if used for investment. And in fact it is very different from Bitcoin, although it does not have a stable price in the market, but many people have benefited by investing and trading through Bitcoin on several exchanges.Conditions like today make people think Gold has a stable price.
Could it be because of macroeconomic factors that made the crypto market turn red again?
currently there are only about 2 million Bitcoins that have not been mined which means that very little is left of the 21 million supply and of course it will be increasingly difficult to mine it with a very small number of reward blocks, that's why bitcoins are rarer but unfortunately the price touched $20k is a very cheap price bitcoin should have remained at $60k as the lowest price figure
Bitcoin continues to work as expected though, more than a decade after genesis.
The price swings are just caused by many external factors, but fundamentally Bitcoin has never been stronger. And it will continue to get stronger every block.
The price in the long term will continue to rise, both because it's priced in fiat which loses purchasing power over time, and also because more and more people will want to get access to Bitcoin over the decades, but there's only a finite amount of it.
currently there are only about 2 million Bitcoins that have not been mined which means that very little is left of the 21 million supply and of course it will be increasingly difficult to mine it with a very small number of reward blocks, that's why bitcoins are rarer but unfortunately the price touched $20k is a very cheap price bitcoin should have remained at $60k as the lowest price figure
If you look back at 13 years of formation and development of bitcoin, from a coin with no value and now it is worth 20k $. That's not a cheap price, bitcoin holders at first were just a few hundred dollars and now it's worth millions of dollars. I think we should not be disappointed with the current price.
If you think that the current level is too cheap compared to the real value of bitcoin, we should instead take advantage of the time when bitcoin is cheap and collect as much as possible because bitcoin will soon appreciate and surpass the $60k threshold. Then it's really unfortunate for us.
In the month of June and July, lots of FUD spread due to the bear market and how the price of Bitcoin was affected. Those who still believed that Bitcoin can never be devalued nor crash bought Bitcoin when price dropped to $17k and if they had sold on July 30 2022 with Bitcoin opening price of $24,581, they would still have made have made $7k+.
In cryptocurrency, Bear and Bull market will always come, but some people are only concern about the bull market but always cause FUD when bear market begin.
Bitcoin price On June 10 2021 was $36k+, same day an expert of crypto-asset said Bitcoin could surge to $1 million in 6 years as it becomes more scarce than gold
Those who watched Bitcoin's bull market can probably guess where Bitcoin might be headed. In practical terms Bitcoin is one such cryptocurrency that has grabbed the attention of all over the world in a very short span of time. A Bitcoin peaked at around $70000 which is definitely more expensive than Gold in comparison. Bitcoin's journey is just beginning yet people are not much aware of its usage. Moreover, there are legal complications. But when such problems are solved, it will be considered as infrequent. In cryptocurrency, Bear and Bull market will always come, but some people are only concern about the bull market but always cause FUD when bear market begin.
Bitcoin price On June 10 2021 was $36k+, same day an expert of crypto-asset said Bitcoin could surge to $1 million in 6 years as it becomes more scarce than gold
currently there are only about 2 million Bitcoins that have not been mined which means that very little is left of the 21 million supply and of course it will be increasingly difficult to mine it with a very small number of reward blocks, that's why bitcoins are rarer but unfortunately the price touched $20k is a very cheap price bitcoin should have remained at $60k as the lowest price figure
Bitcoin continues to work as expected though, more than a decade after genesis.
The price swings are just caused by many external factors, but fundamentally Bitcoin has never been stronger. And it will continue to get stronger every block.
The price in the long term will continue to rise, both because it's priced in fiat which loses purchasing power over time, and also because more and more people will want to get access to Bitcoin over the decades, but there's only a finite amount of it.
currently there are only about 2 million Bitcoins that have not been mined which means that very little is left of the 21 million supply and of course it will be increasingly difficult to mine it with a very small number of reward blocks, that's why bitcoins are rarer but unfortunately the price touched $20k is a very cheap price bitcoin should have remained at $60k as the lowest price figure
It is very obvious that bitcoin is more scarce than gold. There are still tons and tons of undiscovered golds which are yet to be mined, but bitcoin has only 21 million supply and I am pretty much sure there are lots of lost bitcoins that can never be recovered. But I don't think we should be comparing bitcoin and gold. I mean bitcoin might be super scarce, but if no one uses bitcoin, then what's the use of it being scarce? People will still be using gold and it will be more valuable than bitcoin.
I agree with you for what bitcoin is very rare and also the price is very high even though the price is very unstable and sure.
I think bitcoin is only popular with young people today, many investors are old or old economists, they don't put their money in bitcoin. According to it takes a long time to compare gold and bitcoin, bitcoin has a large profit in a relatively short time, while the value is relatively stable, meaning that it is impossible to get a large profit in a short time, but the advantage is that it has a small risk, because it has a shape. physical or goods.
It is very obvious that bitcoin is more scarce than gold. There are still tons and tons of undiscovered golds which are yet to be mined, but bitcoin has only 21 million supply and I am pretty much sure there are lots of lost bitcoins that can never be recovered. But I don't think we should be comparing bitcoin and gold. I mean bitcoin might be super scarce, but if no one uses bitcoin, then what's the use of it being scarce? People will still be using gold and it will be more valuable than bitcoin.
Without a doubt the value of something depends on both, the demand and the supply, the supply of bitcoin is not only low but it is also never going to increase and if to this we add a high demand then it is not surprising that each unit of bitcoin is incredibly valuable, and that value keeps increasing as the demand increases as well, I think we're going to get to the point in which the market cap of bitcoin is going to be bigger than the market cap of gold, I do not know how long it will take for that to happen but personally I think it is inevitable. 
BTC doesn't have to fight gold, does it?
In fact, BTC is made to defeat fiat. Gold is something different. You can have both BTC and gold. why force yourself to choose one over another?
Gold is good. It made stunning jewelry.
BTC is good. It pays for my coffee.
In fact, BTC is made to defeat fiat. Gold is something different. You can have both BTC and gold. why force yourself to choose one over another?
Gold is good. It made stunning jewelry.
BTC is good. It pays for my coffee.
Often people who consider Bitcoins as an asset does this type of comparison.
Actually it’s people’s mindset on how they gonna treat Bitcoins.
You are considering Bitcoins as a way to pay bills for your coffee, but someone is trading (buying and selling) to make profit. So yes comparing exists for the better asset. I consider Bitcoins as both an asset and a way to pay some of my bills and for this I love Bitcoins more than Gold. We also know the fixed amount of BTC created or present , so yes it’s more scarcer.
It is very obvious that bitcoin is more scarce than gold. There are still tons and tons of undiscovered golds which are yet to be mined, but bitcoin has only 21 million supply and I am pretty much sure there are lots of lost bitcoins that can never be recovered. But I don't think we should be comparing bitcoin and gold. I mean bitcoin might be super scarce, but if no one uses bitcoin, then what's the use of it being scarce? People will still be using gold and it will be more valuable than bitcoin.
Its not the supply that is questionable so much as the demand growth and utility to wider populations. If BTC is used and useful then its without doubt we have a rising price because supply doesn't expand. My view of BTC is as similar to commodities and most commodities will expand production when in demand, this explains why price accelerates so fast upwards in BTC from this unusual constriction vs potentially global demand.
What does it imply when you say expand production when in demand? The production of what in bitcoin? Also, what accelerates bitcoin's price upwards is speculation and too much leverage. It has been like this since 2017 and this is why we have large parabolic pumps that create market bubbles.
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