Selling Bitcoin vs. Selling Gold | Bitcointalksearch.org

OcTradism

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Quote from: Z-tight on August 18, 2024, 06:39:14 AM

Some people have also been kidnapped and forced to send all of their BTC to the attacker, so many people have also been attacked online, and all their BTC's were stolen. My point is that if you know what you are doing, there is a high chance that you will store your BTC or your gold well, and it would not be stolen.

I.e. you can store your gold in a bank's safe deposit box, instead of keeping it at home. There will always be risk in holding valuable assets, it now takes the knowledge of the individual to reduce that risk.

Invest in Bitcoin, storing your bitcoin safely is good but you need more than that, for safety of your bitcoin and safety of your life too. Don't try to walk around, make noise, to inform everyone that you are a Bitcoin investor and currently own bitcoins. It's very dangerous and some past physical attack stories are enough to warn people who intend to do this dangerous practice.

Physical Bitcoin attacks (part 1)
Physical Bitcoin attacks (part 2)

Z-tight

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Quote from: kotajikikox on August 18, 2024, 04:17:40 AM

But it is safer to Keep bitcoin on your possession in case you wanna keep them long term while in gold? you are always in risk of being robbed or killed because of your physical holdings

Some people have also been kidnapped and forced to send all of their BTC to the attacker, so many people have also been attacked online, and all their BTC's were stolen. My point is that if you know what you are doing, there is a high chance that you will store your BTC or your gold well, and it would not be stolen.

I.e. you can store your gold in a bank's safe deposit box, instead of keeping it at home. There will always be risk in holding valuable assets, it now takes the knowledge of the individual to reduce that risk.

kotajikikox

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But it is safer to Keep bitcoin on your possession in case you wanna keep them long term while in gold? you are always in risk of being robbed or killed because of your physical holdings .

Quote from: oemar bakrie on August 15, 2024, 12:06:58 AM

gold or crypto are actually the same in the economy in the way they are invested, but the difference between the two investments is very different, seen in sales alone, they are very contradictory, gold must have goods and money but crypto is only a digital form that can be cashed in without seeing the goods.. Therefore, in my opinion everything has risks. For those who already have experience in investing in gold, there are no difficulties in selling differently and vice versa with crypto. For those who have a lot of knowledge about crypto, it is better to choose crypto over gold.

correct , gold and bitcoin are the same but of course you must be careful of your holdings.

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Quote from: headingnorth on August 07, 2024, 01:50:01 PM

Buying gold is very easy. But the problem is when it comes to selling. The process of selling gold appears to be much more complicated.
You have to find a buyer...then you have to find a buyer that will give you a good price for it. Good luck with that.

Then you have to deal with the logistics of physically delivering the gold to the buyer, how to receive payment, etc.

You and the buyer have to meet to make the exchange, which can present security issues.
But if the buyer isn't near you then you have to deliver the gold by mail or shipping service.
But does the buyer pay you first? Or do you send the gold to the buyer first? The risk of getting scammed is very high for both buyer and seller.

The risk for the buyer is how does he know he is getting real gold and not fake or diluted gold?

In the US the fastest and simplest method of selling gold is to go into your local pawn shop but who will give you less than half of what its worth and you end up losing a lot of money.

Whether you buy gold or bitcoins, you keep it because you expect to make a profit at some point, and then you want to sell it when you need it. I think buying gold is easy to sell, I personally think you are overcomplicating selling gold. If you go to find a buyer and contact him to sell your gold there may be risk to your life, you may be killed there and your gold may be stolen. Anyway, if I'm not mistaken, the price of gold in different countries is set by the jewelers' association or the government of that country, apart from the price of new gold, the selling price of old gold is also fixed. In case of selling gold of different carats of different countries, i.e. when selling old gold jewelry, 15 percent, 30 percent or half of the purchase price is paid. Most of the people in the world buy and store gold, in many cases the ownership of gold or jewelry is changed from generation to generation. If your gold or jewelry is two to one years old, it's a different matter. Many people have gold stored for 30, 40, 50 or even over 100 years old. The price of old gold is about 3 to 4 times more than the current buying price, if there is a rule in your country to sell gold at half price, still I think you will make a profit by selling old gold.

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Quote from: headingnorth on August 07, 2024, 01:50:01 PM

Buying gold is very easy. But the problem is when it comes to selling. The process of selling gold appears to be much more complicated.
You have to find a buyer...then you have to find a buyer that will give you a good price for it. Good luck with that.

I did not even try selling gold, but I agree that it was more complicated and riskier compared to bitcoin. In fact, we can sell bitcoin in just a few minutes, and we don't care who's buying it. But if we talk about gold, you should clearly know the person you're dealing with.

Some people will suggest selling them in the pawnshop; that is also a good suggestion rather than selling to certain individuals who are not quite familiar with us, which seems too risky. The process of dealing gold with other people will take time, but if you are not a techy person, you will still take this over bitcoin.

The comparison between the two is very clear: technology has great advantages, but many people usually choose the way they think and believe they are comfortable with it.

Dr.Bitcoin_Strange

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Quote from: Marvell1 on August 14, 2024, 09:58:31 PM

Quote from: Dr.Bitcoin_Strange on August 11, 2024, 02:19:25 PM

Quote from: Marvell1 on August 09, 2024, 03:54:03 AM

I also agree with this, storing bitcoin is much easier than gold but it is only easy for those who have knowledge about bitcoin. People who are older or do not have basic knowledge of computers will have difficulty even buying or selling, let alone storing bitcoins.

It doesn't take like ages to learn about Bitcoin investment, it doesn't even require much to learn about Bitcoin but only requires the readiness and dedication of the individual to learn how to invest in Bitcoin and properly hold on to their asset securely. Bitcoin doesn't require and individual to have a computer knowledge to buy Bitcoin, we are in a modern world and anyone can actually do a lot of things on the internet just with their Android or IOS phone.

It may be easy for you or for everyone here but it will be a big deal for some people, especially older people of our parents' generation. For young people or people who like to tinker with their phones, learning something new is not difficult for them because everything is a perfect product and they just need to learn how to use it. But for those who only use phones for communication and entertainment purposes, never care and have never used them beyond basic applications, it is different. Even using a bank account is quite difficult for them, so I doubt they can learn about bitcoin quickly. Meanwhile, with gold you don't even need to know much other than having money and the price of gold.
One of the obstacles to the popularity of bitcoin is technical as not everyone can grasp it easily. Because our world is not only made up of young people, people of the 6x, 7x generation are still taking over part of our world, especially from third world countries, they lack knowledge seriously because life was so difficult at that time.

Despite all that you have said, @Marvell1, I still believe that one doesn't need to spend like five years (just saying) before they can learn about Bitcoin. Often times on this forum, we have talked about the disadvantage of forcing people to venture into Bitcoin, but if anyone (old or young) shows interest in Bitcoin investment, it would not even take them up to one year before they could know some basic things about Bitcoin, and before that one year is over, they must have even invested in Bitcoin. Like I always say, everyone has the choice of the asset they want to invest in, and before they invest in any asset, they must have already made plans of how, when, and where they can sell the asset to take their profitprofit, because those are factors to consider before making an investment.

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Quote from: Out of mind on August 11, 2024, 10:34:46 PM

There are many differences between selling Bitcoin and gold, especially when you sell Bitcoin P2P it can be very risky. There are many exchanges where if you sell bitcoins if not released it will definitely become a scam, and you may lose your money. But nowadays most of the exchanges have completed user KYC due to which people are not losing much of their money through P2P, rather they are doing risk-free transactions. But in selling gold, you don't have to face any losses, and you don't have to get scammed. You can go anywhere and sell your gold to a goldsmith easily.

if we talk about shortcomings, then gold and bitcoin have their respective disadvantages. However, the advantage is that bitcoin can be easily exchanged on trusted CEXs, even in large amounts. For gold, it seems we need several requirements to sell it in large quantities, especially at official places. However, bitcoin and gold are very easy to sell, but I feel that bitcoin is easier, because you can do it anywhere, even when in a pinch.

Mame89

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Quote from: jasonjm on August 13, 2024, 05:37:15 AM

Buying and selling Bitcoin and Gold is almost similar with a slight difference.

Gold has been in use for centuries as a store of value. Nowadays, it is a lot easier to buy and sell gold. Go to a designated gold shop and buy or sell, whatever amount you wish. They will charge some amount as their fee. Although there are some issues with the Gold trade like getting a good selling price, the major issue with the Gold is its logistics. Similarly, you can buy Bitcoin from any exchange and they will charge you some transaction fee. However, Bitcoin has an advantage in that it does not need any special transportation compared to Gold.
In my opinion, you should have both in your portfolio. Earn profit from BTC investment and store in Gold and other assets.

Indeed, bitcoin and gold cannot be equated because these two assets have different systems and characteristics. Gold is a traditional investment that when buying and selling we have to go to the store or in other words have to meet physically while buying and selling bitcoin we only need an internet network and smartphone and the security system is also different. But even so, people want to have both of these assets because of the same goal, which is to seek long-term profits. The point is that bitcoin was created to make it easier for us to achieve financial freedom in investing.

Yes, each of us must have both of these assets in our portfolio, make gold as a reserve fund and bitcoin as the future. because even if we need money suddenly we can sell gold, If we sell bitcoin we can't suddenly because the price of bitcoin is very volatile so when the price goes down we can't sell it.

oemar bakrie

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gold or crypto are actually the same in the economy in the way they are invested, but the difference between the two investments is very different, seen in sales alone, they are very contradictory, gold must have goods and money but crypto is only a digital form that can be cashed in without seeing the goods.. Therefore, in my opinion everything has risks. For those who already have experience in investing in gold, there are no difficulties in selling differently and vice versa with crypto. For those who have a lot of knowledge about crypto, it is better to choose crypto over gold.

Marvell1

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Quote from: Dr.Bitcoin_Strange on August 11, 2024, 02:19:25 PM

Quote from: Marvell1 on August 09, 2024, 03:54:03 AM

I also agree with this, storing bitcoin is much easier than gold but it is only easy for those who have knowledge about bitcoin. People who are older or do not have basic knowledge of computers will have difficulty even buying or selling, let alone storing bitcoins.

It doesn't take like ages to learn about Bitcoin investment, it doesn't even require much to learn about Bitcoin but only requires the readiness and dedication of the individual to learn how to invest in Bitcoin and properly hold on to their asset securely. Bitcoin doesn't require and individual to have a computer knowledge to buy Bitcoin, we are in a modern world and anyone can actually do a lot of things on the internet just with their Android or IOS phone.

It may be easy for you or for everyone here but it will be a big deal for some people, especially older people of our parents' generation. For young people or people who like to tinker with their phones, learning something new is not difficult for them because everything is a perfect product and they just need to learn how to use it. But for those who only use phones for communication and entertainment purposes, never care and have never used them beyond basic applications, it is different. Even using a bank account is quite difficult for them, so I doubt they can learn about bitcoin quickly. Meanwhile, with gold you don't even need to know much other than having money and the price of gold.
One of the obstacles to the popularity of bitcoin is technical as not everyone can grasp it easily. Because our world is not only made up of young people, people of the 6x, 7x generation are still taking over part of our world, especially from third world countries, they lack knowledge seriously because life was so difficult at that time.

BALIK

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Quote from: Bitcoin_people on August 13, 2024, 10:13:54 AM

Quote from: BALIK on August 13, 2024, 04:33:34 AM

~~
But I don't agree with everything the OP said about gold, it's confusing to say that selling gold is difficult, especially for a power like the US. Why doesn't he sell the gold to jewelry stores or goldsmith? Why would he go to the pawn shop to sell that gold, unless it wasn't his gold and he was afraid of something? To be honest, this is the first time I've heard of someone selling gold at a pawn shop.

Maybe the OP here is making it seem difficult to sell gold, but actually selling it is not difficult at all but rather easy but he makes it difficult of course it's mysterious. Grin

It's not hard to see what the real purpose of this thread is and the OP's purpose in spreading false information about gold.

Even though we are on the bitcoin forum and we are bitcoin investors, but I still wonder how this will benefit bitcoin? Will this make bitcoin better or will it just make others more negative about bitcoin as bitcoin investors themselves are distorting the truth and badmouthing other assets to emphasize bitcoin?

We often criticize and worse curse those who spread misinformation about bitcoin, but look we also badmouth other assets. Are we any different from those who like to talk bad about bitcoin?

Smack That Ace

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Quote from: jasonjm on August 13, 2024, 05:37:15 AM

Buying and selling Bitcoin and Gold is almost similar with a slight difference.

Gold has been in use for centuries as a store of value. Nowadays, it is a lot easier to buy and sell gold. Go to a designated gold shop and buy or sell, whatever amount you wish. They will charge some amount as their fee. Although there are some issues with the Gold trade like getting a good selling price, the major issue with the Gold is its logistics. Similarly, you can buy Bitcoin from any exchange and they will charge you some transaction fee. However, Bitcoin has an advantage in that it does not need any special transportation compared to Gold.
In my opinion, you should have both in your portfolio. Earn profit from BTC investment and store in Gold and other assets.

In my experience and to be fair, I don't see much difference in buying and selling both bitcoin and gold. Buying and selling gold or bitcoin in my country is very easy and fast, the only difference is that gold is physical and bitcoin is virtual. I have never had difficulty selling gold like what OP experienced even when it was a large amount of gold because in comparison, gold's liquidity is many times greater than bitcoin.

I agree, both are good assets and investments. As smart investors, we should diversify to ensure safety instead of putting all our eggs in one basket. Gold is a good option besides investing in bitcoin.

OcTradism

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Quote from: Cookdata on August 13, 2024, 02:46:22 PM

I don't find it fancy to move gold from one place to another and because it's heavy again, you have to be security conscious about it anywhere you are unlike Bitcoin that you can hold $1B worth of Bitcoin with you anywhere and nobody will ever know you possess such amount of Bitcoin, your privacy is covered and your asset is covered but when you hold gold, you risk everything about it. Anybody can even come to your house and take it away except if you made the deposit in a safe in bank.

Portability is one of great attributes of Bitcoin compares to gold and other assets. There are detailed explanations on Bitcoin attributes of store of value.

The bullish case for Bitcoin
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Quote

with Bitcoin, once you are given 6 comfirmation in your wallet, you are good to go.

1 or 2, 3 or 6 confirmations or even more confirmations, it's up to value of the transaction, the trade and your deal with trade partner. If value of a trade is big, you will have to wait for more than 6 confirmations or split the payment into some different transactions than only one transaction.

When you make one transaction only, risk of mistake and lose money is big than make 2 or 3 transactions and lose all money by making mistake in all 2 or 3 transactions.

How many Bitcoin confirmations is enough?

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Quote from: headingnorth on August 07, 2024, 01:50:01 PM

The risk for the buyer is how does he know he is getting real gold and not fake or diluted gold?

In the US the fastest and simplest method of selling gold is to go into your local pawn shop but who will give you less than half of what its worth and you end up losing a lot of money.

By comparison, bitcoin is extremely quick and easy to sell with a few keyboard clicks on your computer or phone app.

I don't find it fancy to move gold from one place to another and because it's heavy again, you have to be security conscious about it anywhere you are unlike Bitcoin that you can hold $1B worth of Bitcoin with you anywhere and nobody will ever know you possess such amount of Bitcoin, your privacy is covered and your asset is covered but when you hold gold, you risk everything about it. Anybody can even come to your house and take it away except if you made the deposit in a safe in bank.

Bitcoin also gives you versatility anywhere you are, let's even forget the price for now, you can move $1B worth of Bitcoin anywhere around the globe but how do you even move around with $1B worth of Gold, that's going to be like many cargo shipments. Don't forget that it's not all Gold that has high purity, you can even be sold a fake Gold with high impurities but you can never do that with Bitcoin, once you are given 6 comfirmation in your wallet, you are good to go.

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Quote from: Out of mind on August 11, 2024, 10:34:46 PM

There are many differences between selling Bitcoin and gold, especially when you sell Bitcoin P2P it can be very risky. There are many exchanges where if you sell bitcoins if not released it will definitely become a scam, and you may lose your money. But nowadays most of the exchanges have completed user KYC due to which people are not losing much of their money through P2P, rather they are doing risk-free transactions. But in selling gold, you don't have to face any losses, and you don't have to get scammed. You can go anywhere and sell your gold to a goldsmith easily.

We as crypto users will certainly prefer Bitcoin, but both can guarantee to provide benefits even though everything requires a process, but the benefits of both are also different and for crypto lovers will definitely get very large profits that are not the same as gold which requires large capital but the profits we get are gradual.

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Quote from: BALIK on August 13, 2024, 04:33:34 AM

~~
But I don't agree with everything the OP said about gold, it's confusing to say that selling gold is difficult, especially for a power like the US. Why doesn't he sell the gold to jewelry stores or goldsmith? Why would he go to the pawn shop to sell that gold, unless it wasn't his gold and he was afraid of something? To be honest, this is the first time I've heard of someone selling gold at a pawn shop.

This is also the first time I have heard such a statement and from the OP because selling gold is not difficult at all. Basically we all know that most of the people sell gold by going to jewelry store or goldsmith shop. But if the OP wants to sell gold in a panel shop then of course there's a lot we can think of here, especially as we know many times people plan to sell it in different ways if it's not their own gold. If he went to sell gold in the panel shop then surely we can catch it here it might be someone else's gold else he must have gone to jeweler shop or goldsmith shop to sell gold. Maybe the OP here is making it seem difficult to sell gold, but actually selling it is not difficult at all but rather easy but he makes it difficult of course it's mysterious. Grin

jasonjm

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Buying and selling Bitcoin and Gold is almost similar with a slight difference.

Gold has been in use for centuries as a store of value. Nowadays, it is a lot easier to buy and sell gold. Go to a designated gold shop and buy or sell, whatever amount you wish. They will charge some amount as their fee. Although there are some issues with the Gold trade like getting a good selling price, the major issue with the Gold is its logistics. Similarly, you can buy Bitcoin from any exchange and they will charge you some transaction fee. However, Bitcoin has an advantage in that it does not need any special transportation compared to Gold.
In my opinion, you should have both in your portfolio. Earn profit from BTC investment and store in Gold and other assets.

benalexis12

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Since I have been in the bitcoin business for a few years, I will choose to invest in bitcoin instead of gold because, when the time comes to earn a large amount, I will definitely be able to buy gold. At least the only advantage with Bitcoin is that it is a volatile asset, and if you have large holdings in it, it is possible to get a profit that is also a large amount in the end.

Especially if you invest in another cryptocurrency and hold it long-term, you might not only invest in gold but also a house and lot and even get a car with you. And it is not impossible to happen.

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Quote from: Out of mind on August 11, 2024, 10:34:46 PM

There are many differences between selling Bitcoin and gold, especially when you sell Bitcoin P2P it can be very risky. There are many exchanges where if you sell bitcoins if not released it will definitely become a scam, and you may lose your money. But nowadays most of the exchanges have completed user KYC due to which people are not losing much of their money through P2P, rather they are doing risk-free transactions. But in selling gold, you don't have to face any losses, and you don't have to get scammed. You can go anywhere and sell your gold to a goldsmith easily.

It would not be correct to say that investing in gold does not cause losses, it all depends on the price of gold and the price of gold also volatility continuously even though the volatility of gold is not significant. Furthermore, once it is an investment, there will be profits or losses and gold is no exception.

But I don't agree with everything the OP said about gold, it's confusing to say that selling gold is difficult, especially for a power like the US. Why doesn't he sell the gold to jewelry stores or goldsmith? Why would he go to the pawn shop to sell that gold, unless it wasn't his gold and he was afraid of something? To be honest, this is the first time I've heard of someone selling gold at a pawn shop.

Out of mind

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There are many differences between selling Bitcoin and gold, especially when you sell Bitcoin P2P it can be very risky. There are many exchanges where if you sell bitcoins if not released it will definitely become a scam, and you may lose your money. But nowadays most of the exchanges have completed user KYC due to which people are not losing much of their money through P2P, rather they are doing risk-free transactions. But in selling gold, you don't have to face any losses, and you don't have to get scammed. You can go anywhere and sell your gold to a goldsmith easily.

Topic: Selling Bitcoin vs. Selling Gold (Read 1070 times)