Mr. Thiel: Bitcoin Can Be The New Gold - page 2.

matuson

sr. member

Activity: 420

Merit: 255

Quote from: gentlemand on October 27, 2017, 06:50:54 AM

Quote from: diouf67 on October 27, 2017, 06:36:45 AM

It is really interesting to always see the comparisons to gold with bitcoin because in a lot of ways they are very similar but a lot of ways they are so different. Gold is a physical tangible asset and so is backed by that whereas bitcoin is not backed by anything, this is the major difference in my opinion and one that worries me when people try to think of bitcoin as a store of value.

They're both abstract concepts. Bitcoin's a string of code. Gold's a lump of junk you pull out of the ground with a tiny bit of usefulness.

What counts is the concept they embody which is value theoretically beyond government control. In gold's case that's completely fictional, it's rigged. Bitcoin isn't there yet but might be one day.

I'd say what he's saying is right. It'll never be a currency.

It does not matter that it is gold, bitcoin or something else. The price of this is determined by the people. The most important thing to stock that was limited and not subject to the state. The properties of the bitcoin is more convenient than gold. Until bitcoin will remain free, its price will rise. That is why I am against any regulation and legalization by the state.

Kenvestor

newbie

Activity: 14

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Looks like we have another big name to back the testament that is Bitcoin.

I'm sure allot of us think the same. It's only fitting especially with the success of btc this year.

But if Bitcoin is here to stay and continues to grow in value in the next years, it's safe to assume that it's so much more than gold- there's always more gold to be found on Earth, regardless of difficulty. Bitcoin is set in a hard cap, making it more valuable the lesser(and harder) there is left to be mined. btc can be "delivered" allot faster as well.

gentlemand

legendary

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Welt Am Draht

Quote from: diouf67 on October 27, 2017, 06:36:45 AM

It is really interesting to always see the comparisons to gold with bitcoin because in a lot of ways they are very similar but a lot of ways they are so different. Gold is a physical tangible asset and so is backed by that whereas bitcoin is not backed by anything, this is the major difference in my opinion and one that worries me when people try to think of bitcoin as a store of value.

They're both abstract concepts. Bitcoin's a string of code. Gold's a lump of junk you pull out of the ground with a tiny bit of usefulness.

What counts is the concept they embody which is value theoretically beyond government control. In gold's case that's completely fictional, it's rigged. Bitcoin isn't there yet but might be one day.

I'd say what he's saying is right. It'll never be a currency.

diouf67

full member

Activity: 260

Merit: 104

It is really interesting to always see the comparisons to gold with bitcoin because in a lot of ways they are very similar but a lot of ways they are so different. Gold is a physical tangible asset and so is backed by that whereas bitcoin is not backed by anything, this is the major difference in my opinion and one that worries me when people try to think of bitcoin as a store of value.

Catmony

hero member

Activity: 854

Merit: 500

This is really a good news when more and more billionaire will get into bitcoin ecosystem, banks and governments will be forced to accept or atleast legalize bitcoin. Still many countries are thinking bitcoin as another internet ponzi, those countries will never be one of successful country in the world. They are just too much concern about money laundering and tax invasion, rather than regulating crypto they are just banning it.

BillCoin

sr. member

Activity: 476

Merit: 259

Bitcoin is much better then gold at a lot of aspects.
Bitcoin has a public limit cap, and at the gold case, there is no limit, because there are a lot of gold over the galaxy, and you can never know that it will be impossible to produce any more.

Also, bitcoin can not be faked, while gold can be( beginners in the gold scenario can be scammed and get fake gold for real gold price and with the bitcoin explorer it just can't happen).

iamTom123

hero member

Activity: 490

Merit: 501

Quote

Peter Thiel the co-founder of PayPal is convinced that Bitcoin could be digital gold and has the potential to take its place as a reserve currency. He compared many of the features of Bitcoin to gold, like its limited supply and that it is mineable. It's like a reserve form of money, it's like gold and it's just a store of value. If Bitcoin ends up being the cyber equivalent of gold, it has a great potential left.

Source Here!

This man is speaking from years of wisdom and experience especially being a part of the PayPal success story and now he is one of the many big names who are promoting the advantages of using Bitcoin both as a currency and a store of value. We will see in the coming years if indeed Bitcoin would be playing this role big time as we are now seeing many evidence for a bigger picture along this line. Maybe in the person of Mr. Thiel we are finding a nemesis of Mr. Jamie Dimon who openly criticized Bitcoin as fraud even if his firm's clients are also into it.

Welcome to the new gold standard...the Bitcoin.

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