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Topic: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? - page 5. (Read 815 times)

legendary
Activity: 3052
Merit: 1188
Hard to find a market for platinum and street value isn't really known in my country but gold and silver are some of the big ones in my country. I think that this is an opportunity to buy gold now that its bull run is over the prices is slumping back, the prices will definitely go up someday and I think that anyone who passes the opportunity to buy one now is a fool.
It is not hard to find considering there are two ways to go for it, one is you do not buy platinum like directly at the streets, you go to exchanges and find an exchange that allows you to own platinum on paper, of course you will not physically own it, you will just have it on some computer screen.

Most nations have that kind of asset exchanges here and there, banks do have that too, just look for places that does it, and when the price increases you can sell it on the same exchange as well.

Secondly you could actually go and buy some, which would be not a smart move if you ask me, there is no need to hold it, none of us actually hold bitcoin in our hands neither, so it is really a bad move but you CAN do it if you want to. However after all that said and done, I do prefer gold as well, gold is something you can use anywhere in the whole world and has a good value and very easy to cash out.
why
member
Activity: 73
Merit: 10
why! do ur own job.
It would be wise to buy some gold. I have invested a lot of money in the Bitcoin market and I will buy gold with whatever profit I can get from it. I have done such work before. Gold is a very ancient asset. Bitcoin prices often go up and down. It can make a lot of money but there are some risks. But the price of gold is almost stable. Like Bitcoin, the price of gold does not rise or fall very fast.
legendary
Activity: 2184
Merit: 1012
If you're bitcoin rich there is nothing wrong with selling a bit of it to buy something less volatile like gold. Or more useful/revenue generating like real estate.
However if you feel you don't have enough BTC, then I wouldn't do it, gold isn't particularly attractive, and institutions buying BTC might indeed lower gold price even more.
In its current state, gold is a more interesting asset for large financial organizations and entire states, represented by their central banks, than for small investors. And the goals of small and large investors are different. If for large investors the main task is to preserve and only then increase financial resources,then for small investors, the most important task is often to increase. Just for this, bitcoin has been very well suited recently.
hero member
Activity: 2548
Merit: 950
fly or die
If you're bitcoin rich there is nothing wrong with selling a bit of it to buy something less volatile like gold. Or more useful/revenue generating like real estate.

However if you feel you don't have enough BTC, then I wouldn't do it, gold isn't particularly attractive, and institutions buying BTC might indeed lower gold price even more.
sr. member
Activity: 1918
Merit: 370
If you want to diversify your portfolio and try out tangible assets, gold is definitely a valuable asset to add in your folder. Reading Robert Kiyosaki's statements also urges me to invest in silver which at this moment is a sleeper asset, contrary to what most people say or think about it.
It is a good time to buy gold, the price is tend to rise. But I want to wait until gold price reach the lowest level. Storing gold is not as easy as storing bitcoin so my first priority is still bitcoin. I don't want to miss this good market condition. I am not sure that gold investors sell their gold to buy bitcoin because it so unbelievable. Maybe gold investment is too safe for them so they want to get involved in bitcoin investment that the risk is very big.
Gold may not drop in value anytime soon, so I highly suggest you buy now and execute dollar cost averaging instead to ensure you don't get fomoed, otherwise you can bet your bottom dollar you'll be hoping you bought gold today.
legendary
Activity: 4256
Merit: 8551
'The right to privacy matters'
hero member
Activity: 2926
Merit: 640
Personally, I would. It doesn't hurt to trim down a bit on Bitcoin's profit and diversify it to precious metals. While there are speculations of space mining and all, I guess it won't happen anytime soon. And gold would definitely stay precious for the next several decades. For me, it is still a wise decision to buy gold, silver, platinum, and so on during their respective dips. In fact, precious stones could also be added to your portfolio if you have a vast amount of wealth. Having several baskets is always better than having only one.
Due respect to your vision and to an extent even I agree that gold will remain precious for years and decades. But the thing with gold is that you are paying charges when you buy gold and when you sell gold you again have to pay some fees as the gold degrades a bit and you don't get 100% value of your gold.

With bitcoins there is a volatility issue but I rather consider it as an opportunity and the best part with bitcoins is that you don't have to be worried about theft and robbery but with gold you always have to keep these things in mind.

Having several fruits in the basket is absolutely important but you need to also keep in mind that if something is not moving with the pace of how market is moving then you have to switch.

Again, everyone have their own view and diverse actions is what makes the market worth it.
full member
Activity: 1093
Merit: 103
gold isn't easy to store/ trade / buy or sell. I am not sure it's easy as investment and there is not only a transaction fee but also a shipment fee or a custodial fee. I will continue to invest in bitcoin since it's more easy to trade (and manage).
Probably thanks to early appearance on the market, more surprises will come on the next years, and we have just seen a small part of this technology.

This convenience is what makes people prefer Bitcoin and think of it as the digital version of Gold.  But anything that is too liquid is very risky.  At any time, the gains and losses can be dramatic.  I am grateful that I got the opportunity to get to know Crypto and this is the real proof.  Already many people are rich because of this.
Indeed, there are enough inconveniences associated with the gold metal, which your interlocutor speaks about above, but nevertheless, the owner of the gold metal feels much calmer than the owner of bitcoin, especially if he does not have sufficient capabilities or knowledge to safely store his asset.
hero member
Activity: 1414
Merit: 574
gold isn't easy to store/ trade / buy or sell. I am not sure it's easy as investment and there is not only a transaction fee but also a shipment fee or a custodial fee. I will continue to invest in bitcoin since it's more easy to trade (and manage).
Probably thanks to early appearance on the market, more surprises will come on the next years, and we have just seen a small part of this technology.

This convenience is what makes people prefer Bitcoin and think of it as the digital version of Gold.  But anything that is too liquid is very risky.  At any time, the gains and losses can be dramatic.  I am grateful that I got the opportunity to get to know Crypto and this is the real proof.  Already many people are rich because of this.
legendary
Activity: 3276
Merit: 3537
Nec Recisa Recedit
gold isn't easy to store/ trade / buy or sell. I am not sure it's easy as investment and there is not only a transaction fee but also a shipment fee or a custodial fee. I will continue to invest in bitcoin since it's more easy to trade (and manage).
Probably thanks to early appearance on the market, more surprises will come on the next years, and we have just seen a small part of this technology.
legendary
Activity: 2912
Merit: 6403
Blackjack.fun
Gold with over 10 trillion marketcap while bitcoin with $900 billion marketcap, I do not think it is the appropriate time to say bitcoin is eating up gold because gold is still far stronger than bitcoin.As the marketcap will be increasing, bitcoin will be more safe and strong,

Why would care about this so-called "market cap" when analyzing the two, does that mean that you only invest in the top 10 largest companies listed on the stock market and the rest are garbage? As for the safer part, wasn't bitcoin safe five years ago or two years ago at 300$ and 6000$?

I don't understand this fixation people have with comparing bitcoin and gold, one was around for thousands of years, you can't expect its value to shoot up by 100x and if that would happen we would be probably in a mess no gold or silver or crypto would be able to pull us out of it. Bitcoin it's at the beginning of its life, it's normal for it to grow x10 x5 but at one point it will find its level and from there on you can compare the evolution of the two and how they perform during different world events.

Has bitcoin clearly outperformed any gold investment over a longer period, yes undoubtedly, but will it prove to be a store of value as safe as gold once it matures? Time will tell and probably too few of us will be around to say it for sure it had so.



legendary
Activity: 1624
Merit: 1200
Gamble responsibly
I am not sure that gold investors sell their gold to buy bitcoin because it so unbelievable. Maybe gold investment is too safe for them so they want to get involved in bitcoin investment that the risk is very big.
Gold with over 10 trillion marketcap while bitcoin with $900 billion marketcap, I do not think it is the appropriate time to say bitcoin is eating up gold because gold is still far stronger than bitcoin. About bitcoin being risky, you should know that in some centuries ago, gold was also volatile, while the price was not strong unlike now, the investors especially the institutions have seen value in bitcoin, that it will be the future asset that may surpass gold, which means bitcoin is still at its early stage, while taking the opportunity now to secure the future as the marketcap and price of bitcoin will be increasing. As the marketcap will be increasing, bitcoin will be more safe and strong, but as you say bitcoin is not as safe as gold, I believe the volatility will make you make such statements, only those that are not passionate about bitcoin can lose because they sell their bitcoin when the marketcap is reducing, while the marketcap still later increase beyond what is expected.
full member
Activity: 452
Merit: 101
It is a good time to buy gold, the price is tend to rise. But I want to wait until gold price reach the lowest level. Storing gold is not as easy as storing bitcoin so my first priority is still bitcoin. I don't want to miss this good market condition. I am not sure that gold investors sell their gold to buy bitcoin because it so unbelievable. Maybe gold investment is too safe for them so they want to get involved in bitcoin investment that the risk is very big.
copper member
Activity: 2940
Merit: 4101
Top Crypto Casino
Comparing Bitcoin and Gold yeah, the gold's price dropped a bit since the last months but for the long term gold is still performing nicely.
I bought gold and silver some days ago (and physical, not paper gold haha). I should have waited a bit since I paid it with bitcoins and the price seems to be going up (I don't look at the price of bitcoin every day).
I'll probably buy some more in the next month to decrease a bit the purchase cost.

It wasn't really to make a profit, I mean I'm fine if I don't make any because it's not what I was looking for. Rather for diversity and the safe haven benefit. I plan to keep it for about 5-10 years.
I'm not in my twenties so I can't have the same portfolio and take the same risks. If I was looking for an asset with a performance I would have taken something else.
This is what I mean


source
full member
Activity: 1428
Merit: 120
Sugars.zone | DatingFi - Earn for Posting
I saw this interesting tweet today.


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




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


That is one of your options. Looks like comparison is misleading.
because in my opinion, in economics, bitcoin is defined as an asset that represents tangible core intelligence. Gold is a traditional existing asset. The emotional order and the frequency of dependence are different.
You buy gold and send it at the bank? I don't think so if you have a better space to keep it as safe as bitcoin - And you can customize it to be used as you like. Wink
sr. member
Activity: 1624
Merit: 315
Leading Crypto Sports Betting & Casino Platform
Tbh I prefer platinum but gold has a value in history (and then less of a value if you drop murcury on it 😁).

Gold saw quite a dramatic bull run though. When I first looked at buying some I think 100g in 2015 was a lot lower.
It mightve been pushed up because of negative interest rates too (or no interest) and people needing a hedge.
Hard to find a market for platinum and street value isn't really known in my country but gold and silver are some of the big ones in my country. I think that this is an opportunity to buy gold now that its bull run is over the prices is slumping back, the prices will definitely go up someday and I think that anyone who passes the opportunity to buy one now is a fool.
legendary
Activity: 3654
Merit: 1165
www.Crypto.Games: Multiple coins, multiple games
This makes me wonder if possible Gold devaluation is one of the reasons that the Indian Govt is getting so proactive about small retail investors making money through crypto in India?!!

You see Gold is seen as a big motivator for savings as well as spending in India. A huge percentage of the population is young and digitally active. If the concept of bitcoin as digital gold catches up, Gold may lose its dominant role and cost for the population. Cryptocurrecies and the accompanying innovations also make people way more spartan with respect to their savings and investments. Majority of Indians prefer staying in safe Govt issued instruments and put money in Govt owned banks. All of that could possibly change with Bitcoin.

Instead of letting innovation and good business drive growth in the sector, the reactionary and conservative policymakers are resorting to moves like banning all cryptos.
Gold is not really dropping in just one nation, it is dropping in all nations right now, and the fact is that bitcoin is doing a lot better than anything else scares governments because people may not need them. Think about a nation that has citizens that doesn't use that nations currency, main thing they use is crypto, and they do pay their taxes they do nothing illegal, but they just refuse to use that nations fiat, in the nation itself, wouldn't that make nations currency worthless?

I mean what is the point of a fiat currency if nobody uses it? Of course it could never be as severe as nobody uses it, but the reality is that we are in a situation where more and more people uses crypto and that means less and less people use fiat which makes fiat a lot less valuable. That is the main reason governments are against it, or at least the ones that are against it.
hero member
Activity: 2590
Merit: 644
A little bit of Gold can never be wrong in your portfolio. Diversification is the best way to protect our portfolios from dropping too hard in a downturn. I am holding a small part of my portfolio in a commodity fund that mainly buys Silver and Gold. When the big bang is going to happen I hope they will go up in value. However the upside is fairly limited in Gold in my opinion. If Gold would go up 20% this would be huge, but seeing Gold go up 100% or 200% like bitcoins seems very unrealistic. I would prefer crypto currencies just because the upside potential is so much bigger.
^ Investing in gold and investing in BTC is might a good idea as well, everything is good for me if you are talking about investing is sounds good either that is crypto or gold. If you can invest in both of them, why not? They had the same movement but I think BTC is easy to gain profit than gold because BTC is become very expensive, even if you will buy. Nevertheless, all of these are temporary, because we know that someday, gold was hold in a passion.
legendary
Activity: 3080
Merit: 1500

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.


Investing in gold is always a good idea from the perspective of capital protection. People who usually wants to avoid risk but have a inflation proof portfolio, always invests in Gold. I personally have not seen any downfall in investing in gold at all and it is a must have in anyone's portfolio. If you are accumulating bitcoin, no harm in it. But you need to understand that bitcoin's price is super volatile. Today's ATH can't guarantee that bitcoin will hold onto this price level tomorrow. So for common investors, bitcoin is a very risky proposition. While gold is relatively stable and it's acceptance is really high around the world.

Nowadays, investing in gold has become very easy with the introduction of paper gold. You invest according to your capacity and you sell from the comfort of your home. Around 10% of my monthly investment goes into such paper gold and I have the choice of either holding that paper gold or get delivery of the physical gold whenever needed!
hero member
Activity: 1974
Merit: 534
A little bit of Gold can never be wrong in your portfolio. Diversification is the best way to protect our portfolios from dropping too hard in a downturn. I am holding a small part of my portfolio in a commodity fund that mainly buys Silver and Gold. When the big bang is going to happen I hope they will go up in value. However the upside is fairly limited in Gold in my opinion. If Gold would go up 20% this would be huge, but seeing Gold go up 100% or 200% like bitcoins seems very unrealistic. I would prefer crypto currencies just because the upside potential is so much bigger.
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