In times of war, Gold rises. What about Bitcoin?

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Quote from: bitgolden on November 02, 2023, 01:36:19 PM

Quote from: Abiky on October 16, 2023, 07:14:22 AM

I've seen Gold market prices rising lately as a result of the current Israel-Hamas conflict. However, Bitcoin hasn't experienced any upsurge in price. It's still hovering around the $26k range. Something similar happened during the Russia-Ukraine war.

Is it because investors still don't trust Bitcoin as a store of value? Or is it something else?

Store of value is the only thing that makes bitcoin a lot better, I get that not everyone may see it that way but the reality is that it IS a store of value and will continue to be so. I think it would be useless to call it anything else. I get that it may not be all that easy to trust it because we have seen the volatility but the volatility is just bigger, not any other way around.

So, when dollar loses value (or your fiat of choice) that would make bitcoin go up and that is why I keep investing into it. I know that bitcoin will be more valuable in the future, gold too, but gold would go up just a little whereas bitcoin will go up a lot. So, always investing into bitcoin is a smart choice and does end up helping your finances. This is why many people prefer gold because they are not aware of how much better bitcoin can be, and that is understandable but yet it is not understandable if you know about bitcoin and you still somehow prefer gold over bitcoin, that would be a mistake.

Bitcoin just proves it can rise in times of war which it just did last night. We are yet in the skirmish wars in different regions there isn't yet a huge war that involves a huge fleet but it seems to be unstoppable this time.

But so is gold though so both of them are like a hedge when the future is very uncertain. But when it comes to being easy to carry and not confiscable by someone, Bitcoin champions it all.

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Quote from: Abiky on October 16, 2023, 07:14:22 AM

I've seen Gold market prices rising lately as a result of the current Israel-Hamas conflict. However, Bitcoin hasn't experienced any upsurge in price. It's still hovering around the $26k range. Something similar happened during the Russia-Ukraine war.

Is it because investors still don't trust Bitcoin as a store of value? Or is it something else?

Store of value is the only thing that makes bitcoin a lot better, I get that not everyone may see it that way but the reality is that it IS a store of value and will continue to be so. I think it would be useless to call it anything else. I get that it may not be all that easy to trust it because we have seen the volatility but the volatility is just bigger, not any other way around.

So, when dollar loses value (or your fiat of choice) that would make bitcoin go up and that is why I keep investing into it. I know that bitcoin will be more valuable in the future, gold too, but gold would go up just a little whereas bitcoin will go up a lot. So, always investing into bitcoin is a smart choice and does end up helping your finances. This is why many people prefer gold because they are not aware of how much better bitcoin can be, and that is understandable but yet it is not understandable if you know about bitcoin and you still somehow prefer gold over bitcoin, that would be a mistake.

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Quote from: Abiky on November 02, 2023, 07:50:03 AM

Quote from: pinggoki on October 31, 2023, 11:49:14 AM

I think I know where to draw the line when it comes to what event should affect the price of bitcoin and it's war, as much as there's definitely an effect on it, I think that it's such a depraved and evil of us to even be remotely happy or something jovial about the war affecting the prices, I'm better off with my morals intact to say the least. Also, what's the justification of waiting for bitcoin for another decade to mature? Isn't bitcoin almost 14 years old already? I think bitcoin's mature enough already as you've already said, it's better performing when it comes to investment already so I think that it's mature enough.

Bitcoin is only a "teenager". A decade from now would make it "an adult". Despite the ever-rising popularity of the cryptocurrency, there are still many places in the world that are quite distant from Bitcoin (either because of the lack of education/awareness or limited Internet access). We should wait a little longer before this problem is solved.

Besides, it's yet the day where Bitcoin doesn't have a spot ETF. Gold does and it's "booming" like never before. I'd imagine the impact such an ETF would have over Bitcoin's price. It's likely Bitcoin will surpass Gold's market cap for the first time in history. The future can't be predicted, so lets hope for the best. Wink

14, 15 years is a long way compared to a human's lifespan, but compared to gold's thousand-year lifespan, bitcoin is even more like a newborn. So it is obvious that it cannot achieve great achievements like gold, we should not make such comparisons, it will be quite disadvantageous for bitcoin.

Yes, I believe that ETF will have a strong impact on bitcoin and only then will we be able to witness the true potential and boom of bitcoin. Gold also had a boom when gold ETFs were adopted and I also believe that ETFs will also help bitcoin a lot.

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Quote from: pinggoki on October 31, 2023, 11:49:14 AM

I think I know where to draw the line when it comes to what event should affect the price of bitcoin and it's war, as much as there's definitely an effect on it, I think that it's such a depraved and evil of us to even be remotely happy or something jovial about the war affecting the prices, I'm better off with my morals intact to say the least. Also, what's the justification of waiting for bitcoin for another decade to mature? Isn't bitcoin almost 14 years old already? I think bitcoin's mature enough already as you've already said, it's better performing when it comes to investment already so I think that it's mature enough.

Bitcoin is only a "teenager". A decade from now would make it "an adult". Despite the ever-rising popularity of the cryptocurrency, there are still many places in the world that are quite distant from Bitcoin (either because of the lack of education/awareness or limited Internet access). We should wait a little longer before this problem is solved.

Besides, it's yet the day where Bitcoin doesn't have a spot ETF. Gold does and it's "booming" like never before. I'd imagine the impact such an ETF would have over Bitcoin's price. It's likely Bitcoin will surpass Gold's market cap for the first time in history. The future can't be predicted, so lets hope for the best. Wink

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Quote from: Abiky on October 31, 2023, 07:45:57 AM

I think the recent pump has to do more with the rumored spot ETF approval by the SEC. Nothing has been confirmed yet, but you know how it is in crypto land. One thing for sure is that the war didn't have a positive effect over Bitcoin's price. Maybe because it's still too early for Bitcoin? Gold has been trusted by many for years, so it's the first store of value people choose to protect themselves against an unprecedented crisis.

We should wait at least a decade for Bitcoin to mature. At least, it's doing better than traditional stocks and bonds. I've read somewhere that Bitcoin is the best-performing asset of 2023. With the upcoming halving event, BTC will become scarcer than ever (which means higher prices over time). Who knows if it goes as far as replacing Gold someday? Just my opinion

I think I know where to draw the line when it comes to what event should affect the price of bitcoin and it's war, as much as there's definitely an effect on it, I think that it's such a depraved and evil of us to even be remotely happy or something jovial about the war affecting the prices, I'm better off with my morals intact to say the least. Also, what's the justification of waiting for bitcoin for another decade to mature? Isn't bitcoin almost 14 years old already? I think bitcoin's mature enough already as you've already said, it's better performing when it comes to investment already so I think that it's mature enough.

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Quote from: Abiky on October 31, 2023, 07:45:57 AM

I think the recent pump has to do more with the rumored spot ETF approval by the SEC. Nothing has been confirmed yet, but you know how it is in crypto land. One thing for sure is that the war didn't have a positive effect over Bitcoin's price. Maybe because it's still too early for Bitcoin? Gold has been trusted by many for years, so it's the first store of value people choose to protect themselves against an unprecedented crisis.

We should wait at least a decade for Bitcoin to mature. At least, it's doing better than traditional stocks and bonds. I've read somewhere that Bitcoin is the best-performing asset of 2023. With the upcoming halving event, BTC will become scarcer than ever (which means higher prices over time). Who knows if it goes as far as replacing Gold someday? Just my opinion

We have seen how bitcoin has severally proven itself, with the recent increase in its price it’s shows that it can stand the test of what ever crisis the government may try to bring. Bitcoin is not under the entity of the government that is why it makes it own movement. Despite government trying so hard to suppress Bitcoin it continues to prove its self to us. Some people may think bitcoin price will reduce because of the war going on in Israel but the reverse was this case.
Bitcoin will always be a good asset to own, gold is a good investment tho, but give Bitcoin 10years we will see it in its glory. Gold doesn’t depreciate like other asset which make its a valuable asset, personally if I have the enough capital to buy both asset I won’t hesitate to buy, war may even bring more impact to gold because most investors will want to move to it for safe haven since there’s is tendency that most stock will be at lost during war. Like u said gold doesn’t depreciate makes it a good asset to have.

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Quote from: Mauser on October 30, 2023, 03:08:44 AM

Bitcoin made a huge jump in price recently, so maybe it was just following a few weeks behind the Israel war and the jump in gold price. But looking at the gold price for the last 3 years I don't really see any big movement. Especially during the covid pandemic or the Ukraine - Russia war there was no real movement with Gold. Maybe the price for Gold is already way to high and investors are not willing to pay much more than 2,000 USD. For a real price change to reward investors for the last 1.5 years Gold would need to jump at least 20% up to 2,400. In the past people always looked at Gold as the perfect asset to protect their money from a crisis, and it's true that it didn't drop in price during the last few crises. However, taking the 10+% inflation into consideration a gold price that is not changing means we are still losing value of our assets as we can't buy the same goods we could buy a few years ago with it. To me Bitcoin seems a much better protection against a crisis, just look at the big price gains in the last 1.5 years.

I think the recent pump has to do more with the rumored spot ETF approval by the SEC. Nothing has been confirmed yet, but you know how it is in crypto land. One thing for sure is that the war didn't have a positive effect over Bitcoin's price. Maybe because it's still too early for Bitcoin? Gold has been trusted by many for years, so it's the first store of value people choose to protect themselves against an unprecedented crisis.

We should wait at least a decade for Bitcoin to mature. At least, it's doing better than traditional stocks and bonds. I've read somewhere that Bitcoin is the best-performing asset of 2023. With the upcoming halving event, BTC will become scarcer than ever (which means higher prices over time). Who knows if it goes as far as replacing Gold someday? Just my opinion

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Quote from: Abiky on October 16, 2023, 07:14:22 AM

I've seen Gold market prices rising lately as a result of the current Israel-Hamas conflict. However, Bitcoin hasn't experienced any upsurge in price. It's still hovering around the $26k range. Something similar happened during the Russia-Ukraine war.

Is it because investors still don't trust Bitcoin as a store of value? Or is it something else? Please enlighten me. Your input would be greatly appreciated. Thanks.

Bitcoin made a huge jump in price recently, so maybe it was just following a few weeks behind the Israel war and the jump in gold price. But looking at the gold price for the last 3 years I don't really see any big movement. Especially during the covid pandemic or the Ukraine - Russia war there was no real movement with Gold. Maybe the price for Gold is already way to high and investors are not willing to pay much more than 2,000 USD. For a real price change to reward investors for the last 1.5 years Gold would need to jump at least 20% up to 2,400. In the past people always looked at Gold as the perfect asset to protect their money from a crisis, and it's true that it didn't drop in price during the last few crises. However, taking the 10+% inflation into consideration a gold price that is not changing means we are still losing value of our assets as we can't buy the same goods we could buy a few years ago with it. To me Bitcoin seems a much better protection against a crisis, just look at the big price gains in the last 1.5 years.

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Quote from: Abiky on October 16, 2023, 07:14:22 AM

I've seen Gold market prices rising lately as a result of the current Israel-Hamas conflict. However, Bitcoin hasn't experienced any upsurge in price. It's still hovering around the $26k range. Something similar happened during the Russia-Ukraine war.

Is it because investors still don't trust Bitcoin as a store of value? Or is it something else? Please enlighten me. Your input would be greatly appreciated. Thanks.

I do not see why Bitcoin would not be a good hedge against war. In fact, I think that unless the internet itself is compromised in every country in the world at the same time during some apocalyptic world war 3 event or something, Bitcoin will be completely fine. But it is important to diversify, just in case. Every time the news is bad, we see a short term Bitcoin drop. And if that bad news is connected to Bitcoin or cryptocurrency in general, then the price dumps even harder. But in the long term, we should take a look at whether or not the wars have had less long term impact for Bitcoin than for say, stocks or gold.

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Quote from: Lida93 on October 26, 2023, 08:59:27 AM

The question op should be answering is; what would people in war be needing gold for while their lives is at stake of imminent destruction from an on going war? Those that have it would rather be selling cheap or exchanging it for food to eat for survive while the war last.

Is gold being used in the manufacturing of weapons of mass destruction that the demand for it should rise in times of war? Or is op just been speculative maybe based on a coincidence of gold price rise within the period of the lsreal-Hamas fighting.

Using the case of the Russia-Ukraine war that have lasted over 12 months now did the price of gold in the EU countries and other part of the world increased due to the war? These are just my troubling questions I would love to get a reply from regarding his post if op don't mind.

I've noticed that Gold often rises during times of war. This is all speculation, of course. I have no basis to sustain my claims. It's just that I've seen the majority focusing on Gold during uncertain times, leaving BTC behind in the dust. The only ones who are investing into BTC right now are big investment companies and a few individuals (mainly whales) who know their way around the crypto market.

I guess it's too early for Bitcoin to be trusted as an alternative store of value. This might change within 1-2 decades from now, though. The future is unpredictable, so we should expect the unexpected. Wink

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Quote from: Abiky on October 20, 2023, 07:43:48 AM

Quote from: boltz on October 18, 2023, 07:47:37 AM

"Silver wins battles , Gold wins wars " and Bitcoin wins in both of them so the current rise of Bitcoin is no coincidence and in my opinion we slowly transit towards bull run. Will it get a big spike in price until the last year ? I doubt that , however , I won't be surprised to see price above 33k by the end of the year. Cool

I'm sure Bitcoin will reach a new ATH soon. The upcoming halving event, and companies buying like crazy (Blackrock, Fidelity, Microstrategy) will help BTC cross the $30k range faster than you could imagine. You can buy BTC at a huge discount and sell it for a profit once the market pumps again. Gold rises during times of war, but it doesn't experience high gains as Bitcoin does. It remains relatively stagnant for long periods of time.

When you invest in Gold it's to help preserve your capital/purchasing power. Not to get richer over time. By leveraging between the two assets (Bitcoin and Gold), you'll be able to achieve peace of mind. These are uncertain times we're living into, so expect the unexpected. Just my thoughts Grin

Welll said, combining both gold and bitcoin investment together will yield a perfect result, even though they both exist in different forms, bitcoin is a digital decentralized currency and asset while gold a physical asset under a centralized institutions, there's no doubt that bitcoin can out smart gold in terms of profitability over time when bitcoin experience a new all time high and it value keep increasing unlike told that merely move from one spot to another over a very long time

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Quote from: Abiky on October 16, 2023, 07:14:22 AM

I've seen Gold market prices rising lately as a result of the current Israel-Hamas conflict. However, Bitcoin hasn't experienced any upsurge in price. It's still hovering around the $26k range. Something similar happened during the Russia-Ukraine war.

If you look at the price of bitcoin in the last few days, the impact of the increase in bitcoin from the gold percentage is much greater and although it could only be temporary. Maybe I responded a few days after you made your post, but this is in line with the increase that occurred in gold in the conditions of tension between Israel and Hamas.

Quote from: Abiky on October 16, 2023, 07:14:22 AM

Is it because investors still don't trust Bitcoin as a store of value? Or is it something else? Please enlighten me. Your input would be greatly appreciated. Thanks.

In general there are still many investors who do not use bitcoin as a store of value because bitcoin is still considered quite volatile and the influence of other things is one of the reasons why they do not believe in bitcoin as an asset capable of storing value. War affects financial stability and people tend not to think about investments for those affected by the war and especially investors who are in the country.

But this is not a strong reason because maybe we will see the impact of recession and inflation due to Covid-19 which causes Bitcoin to reach ATH. So no one is able to provide a strong reference regarding this incident and perhaps the supply and demand process is something that is often linked.

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Quote from: Negotiation on October 24, 2023, 11:49:49 AM

War will not affect bitcoin because bitcoin is not controlled by anyone it is decentralized. Bitcoin price is primarily influenced by its supply market demand availability competing cryptocurrencies and investor sentiment. But it is possible that the price of gold will rise but if the economy suffers the effect of war will be on gold. It is like fiat currency that the government can control cryptocurrency prices are soaring in a war market where all financial aspects are falling. Bitcoin is appreciated all over the world the price of this cryptocurrency has increased tremendously.

War can have an impact on the price of bitcoin because when there is war, there is a rush to sell bitcoin, especially if the violence impacts some developing countries with a high proportion of bitcoin investors. If investors lose their physical valuable assets as a result of the war and are in need of money, they will consider selling bitcoin to meet their needs, and once investors with a large number of bitcoins start selling as a result of the war, many weak investors around the world will follow because they lack the patience to hold.

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Quote from: Abiky on October 16, 2023, 07:14:22 AM

I've seen Gold market prices rising lately as a result of the current Israel-Hamas conflict. However, Bitcoin hasn't experienced any upsurge in price. It's still hovering around the $26k range. Something similar happened during the Russia-Ukraine war.

Is it because investors still don't trust Bitcoin as a store of value? Or is it something else? Please enlighten me. Your input would be greatly appreciated. Thanks.

Bitcoin has less history behind it than some other commodities like gold, which means it will naturally have accrued less trust than owning gold. The longer is sticks around without problem, the more likely it is to be used by people as a store of value - however gold still has many hundreds of years of reassurance behind it. If you wish to change this, then you should continue holding and buying more bitcoin throughout the darkest economic periods, however you might find most people find more reassurance in different forms of fiat cash and the savings rates paid out by banks because of it. Bitcoin has historically faced many peaks and troughs, but is grinding its way upwards again.

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Quote from: ChiBitCTy on October 19, 2023, 12:29:30 PM

Quote from: Abiky on October 16, 2023, 07:14:22 AM

I've seen Gold market prices rising lately as a result of the current Israel-Hamas conflict. However, Bitcoin hasn't experienced any upsurge in price. It's still hovering around the $26k range. Something similar happened during the Russia-Ukraine war.

Is it because investors still don't trust Bitcoin as a store of value? Or is it something else? Please enlighten me. Your input would be greatly appreciated. Thanks.

First off, do you have any data to back up the claim that "in times of war, gold rises"? I"m sure that true to some extent, but I'm not sure how true it is overall (meaning for all wars over the course of time).

Also bitcoin is in fact rising as we speak, and has been for the past couple days. I don't think it has much to do with the store of value aspect, people simply panic during times of war fearing the worlds economies will take a massive hit, and in return people tend to sell off any sort of asset, whether thats gold, bitcoin, stocks or bonds.

I'm just not sure there's a correlation here.

The question op should be answering is; what would people in war be needing gold for while their lives is at stake of imminent destruction from an on going war? Those that have it would rather be selling cheap or exchanging it for food to eat for survive while the war last.

Is gold being used in the manufacturing of weapons of mass destruction that the demand for it should rise in times of war? Or is op just been speculative maybe based on a coincidence of gold price rise within the period of the lsreal-Hamas fighting.

Using the case of the Russia-Ukraine war that have lasted over 12 months now did the price of gold in the EU countries and other part of the world increased due to the war? These are just my troubling questions I would love to get a reply from regarding his post if op don't mind.

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Quote from: bayu7adi on October 24, 2023, 11:04:29 AM

The true purpose of Bitcoin, as originally envisioned by Satoshi Nakamoto in the Whitepaper, is to serve as a digital means of peer-to-peer transactions, much like traditional currency. However, it's important to acknowledge that various countries have different regulations, which may lead some users to view Bitcoin as a store of value rather than a pure transactional tool.

Connecting the younger generation with Bitcoin is a fascinating endeavor. We all live in an era of rapid technological advancement. Even in my country, the youth tend to perceive cryptocurrencies as assets and savings, a perspective distinct from that of most older generations. In my opinion, the younger generation holds significant potential to embrace Bitcoin as an alternative savings option, potentially supplanting traditional assets like gold. The key to this adoption currently lies in the availability of ETFs.

Bitcoin's limited supply and deflationary mechanism makes it more suitable as a store of value than digital cash. With rising fees and slow confirmation times, don't expect things to change anytime soon. While that is a fact, people seem to trust Gold more than Bitcoin because of its established presence in the mainstream world. It's no secret that Gold's market cap is a lot higher than Bitcoin's. When times of crisis come, Gold is usually in the "green zone". In Bitcoin, it varies depending on current market sentiment. Sometimes it goes up, while in others it goes down or remains stagnant.

It's only been 14 years since BTC's inception, so I'd give it more time to see what happens. Who knows if BTC grows as big as Gold someday in the future? Grin

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War will not affect bitcoin because bitcoin is not controlled by anyone it is decentralized. Bitcoin price is primarily influenced by its supply market demand availability competing cryptocurrencies and investor sentiment. But it is possible that the price of gold will rise but if the economy suffers the effect of war will be on gold. It is like fiat currency that the government can control cryptocurrency prices are soaring in a war market where all financial aspects are falling. Bitcoin is appreciated all over the world the price of this cryptocurrency has increased tremendously.

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Quote from: Abiky on October 24, 2023, 10:21:08 AM

[...]
I have no hurry to see BTC reach a new ATH, as long as it works as intended. With spot ETFs on the verge of being approved, as well as subsequent block reward halvings, you can bet BTC will become more valuable over time. You just need to be patient. Maybe Bitcoin will get to live alongside Gold for generations? Wink

The true purpose of Bitcoin, as originally envisioned by Satoshi Nakamoto in the Whitepaper, is to serve as a digital means of peer-to-peer transactions, much like traditional currency. However, it's important to acknowledge that various countries have different regulations, which may lead some users to view Bitcoin as a store of value rather than a pure transactional tool.

Connecting the younger generation with Bitcoin is a fascinating endeavor. We all live in an era of rapid technological advancement. Even in my country, the youth tend to perceive cryptocurrencies as assets and savings, a perspective distinct from that of most older generations. In my opinion, the younger generation holds significant potential to embrace Bitcoin as an alternative savings option, potentially supplanting traditional assets like gold. The key to this adoption currently lies in the availability of ETFs.

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Quote from: Abiky on October 16, 2023, 07:14:22 AM

Is it because investors still don't trust Bitcoin as a store of value? Or is it something else? Please enlighten me. Your input would be greatly appreciated. Thanks.

Indeed, in 2023, gold will experience an increase globally, which can be felt in Asia, but if you look at there are a number of factors that cause the price of gold to rise, maybe as the OP said, maybe.

However, looking at the factors of recession, war, crisis and including politics, it can also influence the dynamic surge in gold recently. On the other hand, the recent development of the crypto market is also not like what we have seen in previous years, there was turmoil. war, including Bitcoin, the increase is not that drastic, it's slow, whether investors believe in gold more than crypto, maybe they think gold is safer, but I'm sure the crypto market will improve in the future.

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Does the war really make any difference to the price of bitcoin going up and down?
Currently the war between Russia and Ukraine is going on as well as the war between Israel and Hamas is getting serious but now we see the Bitcoin market hovering between $34K and $35K. Bitcoin price has changed so much in a matter of days. As the market is changing positively the market is supposed to go higher but here no effect of the war worked. The value of Bitcoin depends on the investment. Right now if you sell a lot of bitcoins you will see the price of bitcoins going down again and when you buy a lot of bitcoins you will see the market of bitcoins going up.
So I don't think any effect of Bitcoin price change due to war works.

Topic: In times of war, Gold rises. What about Bitcoin? (Read 664 times)