"Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? - page 3.

jaysabi

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Quote from: oHnK on February 28, 2021, 08:20:32 AM

Quote from: jaysabi on February 28, 2021, 12:38:21 AM

Gold returns are inferior to just about every major asset class- real estate, the stock market, etc. Gold has returned about 75% since just before the housing crisis while the S&P has returned more than 300%.

Isn't that a natural thing? Because whatever has a low risk, the return will also be low. The higher the risk, the higher the resulting return. I think it's talked about very often here. Stocks, real estate and Bitcoin carry a much higher level of risk than Gold. Even though Bitcoin and other investments are able to exceed the price of gold, gold is still believed to be a safe asset.

Yeah, it's definitely related. Risk is associated with volatility, so things with lower volatility are considered "safer." Gold doesn't have the volatility of other asset classes, so by definition it's not going to rise as high in good economic times but it's not going to fall as low in bad economic times. But it's why it's a bad investment if you're trying to make wealth and not protect it.

ven7net

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Although I am a supporter of crypto and I believe that cryptocurrencies will continue to occupy a part of the world market, however, as for gold, there is an opinion that over the next 1 to 3 years the price of gold may fly farther than the moon. This is not my opinion, but one person and it is based on the future solution of problems associated with the global monetary system. In general, there is a high probability that in the near future there will be a return to the gold standard system and the currencies of states will again be tied to gold. According to this person, from the beginning we will observe a fall in the price of gold and an increase in the US dollar, and after a collapse of both the dollar and the crypto market and a crazy rise in gold. I would not underestimate this opinion, since it makes sense and the likelihood that everything will happen just like that. Of course, this does not mean that the US dollar and cryptocurrencies will disappear, no, it may mean that they will lose their value.

Vishnu.Reang

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I strongly believe that one of the reason investors are getting rid of gold is because it is more vulnerable to confiscation. The government, with the multi-trillion stimulus measures is fast running out of cash. The federal debt is ballooning. The only way for them to move forward is wealth confiscation. In Cyprus they targeted the savings bank accounts. But I have a feeling that this time it will be worse. The governments will start confiscating equities, bullion and real estate. They will implemented the tried and trusted method of stealing from the top 10%, to feed the remaining 90%. This may be one of the reasons why assets such as Bitcoin (that can be protected from confiscation) is rising, while physical assets such as gold and silver are going down.

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Quote from: LUCKMCFLY on March 03, 2021, 11:25:26 PM

Gold has a lot of history, in fact gold is always seen as the safe haven, in the worst world crises the only way out is through gold.

Currently Bitcoin is being presented, for some it represents Digital Gold, but in general terms it represents Value and Money, the great boom of Bitcoin has made many investors have migrated from gold investment to Bitcoin, in fact, in times of pandemic, the The least suffered from market declines was gold and bitcoin, bitcoin recovered quickly and continues to provide good news, some predict it will reach $100k. Always the best option will be to have an investment in Gold and Bitcoin, I think it would be the best way to diversify our money.

Bitcoin has been gaining more confidence, of course that Gold represents security, especially for governments and banks in general, bitcoin today has a value in dollars that is higher than gold, but despite this, many continue to trust more in gold.

As time goes by and people know more about Bitcoin, it will have more acceptance, in the near future bitcoin may be more accepted worldwide even by governments, since you cannot cover the sun with a finger.

While the history of gold is undeniable I think the preference of gold over bitcoin is also a generational thing, young people those that are 30 years old or less prefer bitcoin over gold, if we give it a few decades and the young people still prefer bitcoin over gold and those that are currently 30 years old maintain their current preference we could see a massive migration from gold to bitcoin simply because of that generational change in the way people prefer to store their value.

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Quote from: South Park on March 03, 2021, 08:27:27 PM

Quote from: hahay on February 28, 2021, 08:52:53 AM

I personally only believe gold can be the safest investment in the long term, so buying it when its value drops or not I think it's a good choice. Buying gold and bitcoin is basically the right investment so there is nothing wrong with it, then the choice goes back to individual confidence as there is nothing to research anymore for both of which are basically places for us to invest.

People have different preferences, for those that do not trust the new technology gold can be a good option and for those that prefer the ease of use of bitcoin then they will choose it over gold, the big issue is that very few people are holding any of the two so when an economic crisis happens they lose their jobs and their wealth, it is sad but at the same time that is the fate of those that do not take the time to care about their finances and study the field to improve their lives.

Gold has a lot of history, in fact gold is always seen as the safe haven, in the worst world crises the only way out is through gold.

Currently Bitcoin is being presented, for some it represents Digital Gold, but in general terms it represents Value and Money, the great boom of Bitcoin has made many investors have migrated from gold investment to Bitcoin, in fact, in times of pandemic, the The least suffered from market declines was gold and bitcoin, bitcoin recovered quickly and continues to provide good news, some predict it will reach $100k. Always the best option will be to have an investment in Gold and Bitcoin, I think it would be the best way to diversify our money.

Bitcoin has been gaining more confidence, of course that Gold represents security, especially for governments and banks in general, bitcoin today has a value in dollars that is higher than gold, but despite this, many continue to trust more in gold.

As time goes by and people know more about Bitcoin, it will have more acceptance, in the near future bitcoin may be more accepted worldwide even by governments, since you cannot cover the sun with a finger.

South Park

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Quote from: hahay on February 28, 2021, 08:52:53 AM

I personally only believe gold can be the safest investment in the long term, so buying it when its value drops or not I think it's a good choice. Buying gold and bitcoin is basically the right investment so there is nothing wrong with it, then the choice goes back to individual confidence as there is nothing to research anymore for both of which are basically places for us to invest.

People have different preferences, for those that do not trust the new technology gold can be a good option and for those that prefer the ease of use of bitcoin then they will choose it over gold, the big issue is that very few people are holding any of the two so when an economic crisis happens they lose their jobs and their wealth, it is sad but at the same time that is the fate of those that do not take the time to care about their finances and study the field to improve their lives.

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I personally only believe gold can be the safest investment in the long term, so buying it when its value drops or not I think it's a good choice. Buying gold and bitcoin is basically the right investment so there is nothing wrong with it, then the choice goes back to individual confidence as there is nothing to research anymore for both of which are basically places for us to invest.

oHnK

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Quote from: jaysabi on February 28, 2021, 12:38:21 AM

Gold returns are inferior to just about every major asset class- real estate, the stock market, etc. Gold has returned about 75% since just before the housing crisis while the S&P has returned more than 300%.

Isn't that a natural thing? Because whatever has a low risk, the return will also be low. The higher the risk, the higher the resulting return. I think it's talked about very often here. Stocks, real estate and Bitcoin carry a much higher level of risk than Gold. Even though Bitcoin and other investments are able to exceed the price of gold, gold is still believed to be a safe asset.

jaysabi

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Quote from: bitmover on February 17, 2021, 01:17:09 PM

I saw this interesting tweet today.

source: https://twitter.com/Schuldensuehner/status/1361944837742874631

As we can see, GOLD price is dropping the last 6 months (-10%), while Bitcoin is doing really well (-317%).
Some of the gold market cap might be moving to BTC.

Would it be an interesting idea to take some profits from BTC recent gains and buy some gold? Gold is the oldest asset I know of, and it will certainly hold value over the next years to come.

I am still accumulating BTC, but to accumulate some Gold is always a good idea.

Nobody who wants to make money accumulates gold. Gold is only for people who have immense wealth and want to protect against the unlikely scenario where there is mass economic upheaval and you want to lose as little money as possible during it. Gold returns are inferior to just about every major asset class- real estate, the stock market, etc. Gold has returned about 75% since just before the housing crisis while the S&P has returned more than 300%.

South Park

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Quote from: Sithara007 on February 24, 2021, 10:10:46 PM

Ideally we would have expected the gold prices to go up along with the hyperinflation caused by the stimulus measures, but the prices are actually going down. Many of the analysts are saying that there is an oversupply of gold at the market right now, because of people liquidating their gold savings to survive during the pandemic period. This is especially true here in India and I have seen for myself how people are selling their gold ornaments and coins after losing their jobs.

That is very common, it is known that at the beginning of an important economic crisis people and businesses have the tendency to sell their best assets, this puts more of that asset on the market and makes the price to go down significantly, but then once those people run out of that asset the price begins to climb relatively quickly, in fact we saw something similar with bitcoin during the crash of March and then we saw and impressive increase in its price as well.

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Quote from: jaysabi on February 27, 2021, 10:27:40 AM

Quote from: bitmover on February 17, 2021, 01:17:09 PM

I saw this interesting tweet today.

source: https://twitter.com/Schuldensuehner/status/1361944837742874631

As we can see, GOLD price is dropping the last 6 months (-10%), while Bitcoin is doing really well (-317%).
Some of the gold market cap might be moving to BTC.

Would it be an interesting idea to take some profits from BTC recent gains and buy some gold? Gold is the oldest asset I know of, and it will certainly hold value over the next years to come.

I am still accumulating BTC, but to accumulate some Gold is always a good idea.

Gold is an inferior investment in almost every regard. It's a hedge against extreme economic upheaval, which makes it a conservative investment. The market has absolutely destroyed gold since 2008 (before the financial crisis). Since 2008, gold has returned 77% while the S&P has returned 261%. The opportunity cost of owning gold over long periods of time is very high, but you are more protected in the case of extreme volatility.

The misconception I think, that should be pointed out to other investors. Bitcoin have beaten the market price of Gold not only at this moment but even before. But is it the market price which is the basis to determine what investment would be best? First thing is investor's preference. If risk won'5 be a problem go for Bitcoin given that it is showing higher rate of increase. But if it is consistency, Gold will have the biggest advantage. The price of these two has the possibility to be bigger in the future and things will vary on the risks involved. So if you are torn between these two, know your preference and to how much could you take the risk.

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Instead of taking profit from bitcoin to buy gold, why not wait for the price of bitcoin to drop and then rebuy it? I believe this is a better idea than buying gold. Gold is known as the oldest asset on the planet but it does not mean it is the profitable one. Bitcoin has a significant performance recently and because of that reasons, bitcoin should be bought and accumulate not just short term but also for the future purposes

Indeed, you can buy gold if you afford a smaller profit but along with it is the safer haven with less volatility. Though, if I had to invest in gold, I would use leverage to intensify my profit. It is up to you

jaysabi

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Quote from: bitmover on February 17, 2021, 01:17:09 PM

I saw this interesting tweet today.

source: https://twitter.com/Schuldensuehner/status/1361944837742874631

As we can see, GOLD price is dropping the last 6 months (-10%), while Bitcoin is doing really well (-317%).
Some of the gold market cap might be moving to BTC.

Would it be an interesting idea to take some profits from BTC recent gains and buy some gold? Gold is the oldest asset I know of, and it will certainly hold value over the next years to come.

I am still accumulating BTC, but to accumulate some Gold is always a good idea.

Gold is an inferior investment in almost every regard. It's a hedge against extreme economic upheaval, which makes it a conservative investment. The market has absolutely destroyed gold since 2008 (before the financial crisis). Since 2008, gold has returned 77% while the S&P has returned 261%. The opportunity cost of owning gold over long periods of time is very high, but you are more protected in the case of extreme volatility.

doomloop

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Quote from: bryant.coleman on February 21, 2021, 08:41:13 AM

It is true that gold is going down right now. But I don't agree when you say that gold is going down because people are increasingly flocking to Bitcoin. What happening with gold right now is a temporary slump. In the long-term I expect gold to trade at around $5,000 per oz. Gold remains the most trusted and accepted store of value. Bitcoin will take a long time to overtake gold in this regard.

I don't think gold prices has much to do with Bitcoins either. Yes the trend has changed and people might be buying more virtual or online shares as compared to physical assets but that doesn't mean there is any shortage of buyers and investors in gold. The prices for gold are always going up or down without much of a reason.

Quote from: ?? on ??

Bitcoin is not eating gold. Instead it reflect the gold.The price of bitcoin over a period increased some high.Now the price of gold also increased to next level.Many people who holding gold over decade had sold gold at highest price and make use of that money to buy their home.This growth only happen in bitcoin and it's now happening with gold.

Yes, gold is still as scarce as ever and unless Musk finds a planet for gold which I heard in some article, it is going to remain scarce for years to follow. Yes, I don't invest in gold but that doesn't mean I hate or underrate gold investors and holders. Everyone have their own preferences/priorities when investing and gold is still one of the top preferences, Bitcoin has raised in priority no doubt though.

oHnK

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Quote from: geegaw on February 27, 2021, 05:53:09 AM

young people like us have plenty of time to make up for the setbacks and bitcoin is the perfect place to start a journey.

I see that trend among young people. Because young people are an attractive market because they are who dare to take risks for big profits and are not like the old man. Crypto like Bitcoin is the most suitable investment for young people. Because it is volatile, so it has a high return but a very high risk.

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Quote from: laredo7mm on February 25, 2021, 10:45:37 AM

Quote from: ?? on ??

Bitcoin is not eating gold. Instead it reflect the gold.The price of bitcoin over a period increased some high.Now the price of gold also increased to next level.Many people who holding gold over decade had sold gold at highest price and make use of that money to buy their home.This growth only happen in bitcoin and it's now happening with gold.

Actually, it shows what the community wants. Gold is a very precious metal that has been used for transfer value from the past. The price growth of bitcoin is higher than bitcoin because young people like to invest in bitcoin rather than gold. If you check the past 10 years' chart for both of them then you will see the difference in price growth and that is the reason the young generation wants to invest in bitcoin to be rich very quick.

The community you speak of is only a tiny part of the world, which means that bitcoin is standing out for the young and a small part of the world, talking about the globe, bitcoin has yet to set a certain target or position while alluding to gold, gold remains an eternal belief for many people, its value only increases and does not disappear over time. Depending on your purpose and desired needs, buying gold and bitcoin will have advantages but in general, young people like us have plenty of time to make up for the setbacks and bitcoin is the perfect place to start a journey.

TheGreatPython

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Quote from: Sithara007 on February 24, 2021, 10:10:46 PM

Ideally we would have expected the gold prices to go up along with the hyperinflation caused by the stimulus measures, but the prices are actually going down. Many of the analysts are saying that there is an oversupply of gold at the market right now, because of people liquidating their gold savings to survive during the pandemic period. This is especially true here in India and I have seen for myself how people are selling their gold ornaments and coins after losing their jobs.

You have a very valid point as during pandemic a lot of assets were liquidated in the market including gold, silver and other valuable metals. This might be a reason why gold has seen a downfall despite expectations being the opposite.

Also it will take some years to get back to normal conditions which means people still haven't settled like before and hence cannot buy gold right now. The main focus is surviving and after that things like gold, silver or even Bitcoins are being considered.

I was shocked why Bitcoin market is doing so good lately because people were saving money after the pandemic rather than spending but maybe Musk and other investors have impacted the Bitcoin market too much.

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Quote from: magneto on February 24, 2021, 11:14:46 PM

With the hype surroundings cryptocurrencies it seems as if people have forgotten that precious metals are still a very useful long term hedge against inflation as well.

Even though the narrative right now is that bitcoin and other cryptos will become long term store of values, when a correction hits BTC markets people will likely overreact and revert back to gold/silver as safe havens for a while.

So yes, if you want to hedge your Bitcoin bets, having PMs in your portfolio will be very effective and much safer in the long run compared to having fiat - which will imminently depreciate.

Well, the idea is that gold is still better than fiat, but crypto is better than both gold and fiat. That is the point here, that is what people are after as well, I personally do not like it when people actually end up saving fiat at the side, but I am find with precious metals. Also it doesn't make sense to own gold on your bank account, there are offers like that, and you can do it for silver as well, like those are not really smart moves, if you really want to, go out and buy real gold and that would be better, it would be a cool investment to own.

However just because I am fine with gold, doesn't change the fact that bitcoin has moved 5x in the last year, that is really the reason why people like crypto more than gold, because it doesn't make sense to buy gold when you can buy crypto and double your money every year, and that seems to be the case for now.

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Quote from: ?? on ??

Bitcoin is not eating gold. Instead it reflect the gold.The price of bitcoin over a period increased some high.Now the price of gold also increased to next level.Many people who holding gold over decade had sold gold at highest price and make use of that money to buy their home.This growth only happen in bitcoin and it's now happening with gold.

Actually, it shows what the community wants. Gold is a very precious metal that has been used for transfer value from the past. The price growth of bitcoin is higher than bitcoin because young people like to invest in bitcoin rather than gold. If you check the past 10 years' chart for both of them then you will see the difference in price growth and that is the reason the young generation wants to invest in bitcoin to be rich very quick.

magneto

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I think so.

With the hype surroundings cryptocurrencies it seems as if people have forgotten that precious metals are still a very useful long term hedge against inflation as well.

Even though the narrative right now is that bitcoin and other cryptos will become long term store of values, when a correction hits BTC markets people will likely overreact and revert back to gold/silver as safe havens for a while.

So yes, if you want to hedge your Bitcoin bets, having PMs in your portfolio will be very effective and much safer in the long run compared to having fiat - which will imminently depreciate.

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