Topic: Is BTC the new gold ? - page 4. (Read 2768 times)

There has been the belief that investors should "put 10% of your wealth into gold and hope it goes down." This logic underlines the well-known fact that when gold rises in value it indicates that other assets are performing terribly and fear is gripping the market. So to know whether BTC is the new gold or not we need to meet economics shock

Bitcoin is a cryptocurreny. gold is  a physical asset which you can see and touch, they are both two different things. I really wish people will stop this comparison game on this forum. Bitcoin is bitcoin.

I agree with you . bitcoin as new gold. It has no specific shape but its value is equivalent to gold. Many people yearn for it now. They want to hoard it as much as possible

Bitcoin and gold are both valuables, but they have distinct characteristic or feature gold is like tangible thing- you can hold it, you keep it into your vault you.can sell it, while bitcoin is like intangible things you cannot touch it, but you can see it because it's virtual money you can use it through digital way... they have great potential of a great profit it just that they're have different ways of using it.

Bitcoin is an interesting crypto with high value, but i don't think its the new gold or is anywhere close to Gold, the instability of the market, makes it less likely for Bitcoin to act as a storage of value as its value can decline overnight leading to huge losses.

I believe bitcoin is better than gold and until now I still hold the bitcoin I got because the bitcoin price will recover and will increase again

When it comes to its price i think it almost.
But, bitcoin can't replace the reputation of gold.
 we all know that gold is sign of wealth and power and uses by our uncestors long time ago.
While bitcoin knows only by the people who uses modern technology today. Even the uncivilized city don't know yet its value.

BTC should be digital gold in a few years, and the block chain technology is getting better and better, so our attitude towards BTC should be the same as gold.

Many people think of bitcoin as gold but personally I do not think bitcoin is the same as gold there are some advantages possessed by bitcoin and bitcoin is a decentralized virtual currency so there is no control of any party like gold that is still controlled by others. and also bitcoin there is no production system like gold because bitcoin is a system that is individual.

I think bitcoin is like digital gold. And it there is difference. Both of them are commodity that valuable. The differences gold and bitcoin are bitcoin price grow down and grow up fluctuate, gold stable. Low cost for transaction.

I also agree,  bitcoin is very different from gold,  bitcoin has its own unique characteristics that makes it more popular to the community.

Gold is also a precious one that is also valuable and already tested in time.

Gold and Silver have unique properties, such as being the highest conductor for both heat/electricity. Silver is better than gold slightly in that aspect and also has antibacterial properties.

Agree bitcoin has its own unique properties, in places during the GFC people invested in bitcoin to avoid letting the banks steal their money.

I don't think investments in gold will lose their relevance due to bitcoin. Gold is a classic, and yet safer than bitcoin, as it is material and tested for centuries.

We can say and the bitcoin already surpassed the price of gold but the only differences of this two is bitcoin is an unstable so it can positively go down or up and for the gold its stay the same price. But i think the btc is the new gold and by the fastest transaction at anytime and anywhere and the low fees , make the people wanted bitcoin.

And on the second question I rather hold though it can double up your profit or income.

These are two completely different concepts, but bitcoin is being accepted by major corporations for the following purposes.
Tùy chọn nhỏ của doanh nghiệp này đã có với bitcoin nó đã nhận?

1) Hodl 2) Reinvest into business

If a small business that sells baked goods wants to reinvest the money it made from selling donuts to buy more dough to sell more donuts, IT NEEDS A WAY TO PURCHASE THE DOUGH!

You are not going to buy the same amount of flour and baking supplies in bitcoin (okay maybe somewhere in this planet exists somewhere that would take bitcoin for this, but just an example). Same thing applies to any business, and car shop will not get replacement parts in bitcoin, and grocery store can not buy produce from farms in bitcoin;

Small businesses MUST have a way to reinvest bitcoin sales into their business, or bitcoin is going to have a big problem ever expanding (unless we see the super giants mass adopt it, is that what we are hoping for?)

So there's 2 potential outcomes:

Option 1) Auto part dealers, farmers, shipping, logistics companies, etc, the backbone of what runs business and the world, start adopting bitcoin as a payment method and it is then possible for small business that rely on these big players to pay them directly in bitcoin (without converting the bitcoin it received into USD), it has come full circle and we live in a perfect world.

Option 2) We do not see a mass adoption of bitcoin in large companies that power small business. A small auto shop accepts a bitcoin and gets a big sale (lets say in the thousands), the auto parts business that it itself relies on only takes us dollars, the small auto shop must wait for the bitcoin to be converted into USD that the auto parts business will accept as payment before it can make a purchase, the end client who paid for the work in bitcoin needs to wait for the shop to convert his bitcoin to purchase the part to the service. Không có thể nếu không thể tự động tự động.

Yet bitcoin and gold are different concepts, although I prefer investing in cryptocurrency, not precious metals.

I'm not sure we can compare bitcoin and gold and call cryptocurrency new gold. Rather, it is a new type of investment. But he can't replace the gold.

Bitcoin is a digital money but same time it is defined as an asset because it is limited and very valuable. I think, in this sense it is possible for me to define Bitcoin as the new gold.

I believe Bitcoin will be the new gold.

It is more than gold if it all happen as you mention in the post.it is that we cannot touch in our entire life but retaining thse gives us a sigh of relief.
The gold we cannot show anyone for being lost.