Selling Bitcoin vs. Selling Gold - page 4.

bubilas

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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.

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

In the city where I live, buying gold is incredibly difficult. It's not that it's hard to find or difficult to buy. The whole problem is that if you buy gold, then selling it becomes much more expensive. The gap in the bank between selling and buying is about 15 percent! And this is just absurd. It turns out that if you want to profit from buying gold, you have to wait for its price to rise by 16 percent! and then there will be a profit of 1 percent.

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Quote from: Dr.Bitcoin_Strange on August 09, 2024, 02:52:52 AM

Yea, I have seen a posts on this forum where a member actually said that it's easy to buy gold in their country but difficult to sell it back to people you bought it from, and in my country, it doesn't work like that. If you actually want to sell your gold piece, it's very easy, and you will also sell it at a good rate if you already know what the current rate is for one troy ounce, but when you don't know about all that, you can be cheated by the buyer.

Many people from third world countries also affirm that they have no difficulty buying and selling gold. Buying and selling gold is extremely easy, while OP said he had difficulty selling gold in a large country and that is the United States. Are there no physical gold stores in the US? Why did he go to the pawn shop to sell gold? I really doubt what the OP is saying.

Quote from: Dr.Bitcoin_Strange on August 09, 2024, 02:52:52 AM

Just like a few people have already said, Bitcoin is much easier to keep safely than gold. Most of the time, you can store a very large sum of Bitcoin and no one will know unless you tell people about it, but once you hold that large amount of gold, it could be noticed and can lead to robbery.

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.

Dr.Bitcoin_Strange

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Yea, I have seen a posts on this forum where a member actually said that it's easy to buy gold in their country but difficult to sell it back to people you bought it from, and in my country, it doesn't work like that. If you actually want to sell your gold piece, it's very easy, and you will also sell it at a good rate if you already know what the current rate is for one troy ounce, but when you don't know about all that, you can be cheated by the buyer.

Just like a few people have already said, Bitcoin is much easier to keep safely than gold. Most of the time, you can store a very large sum of Bitcoin and no one will know unless you tell people about it, but once you hold that large amount of gold, it could be noticed and can lead to robbery.

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I never think of selling bitcoins and selling gold separately and consider them as one and the same activity. Let's assume from today that you all know what the Bitcoin market was like ten years ago, especially a Bitcoin was under one cent, but now you see a Bitcoin going up and down at $62,000 in today's market. You can't underestimate the fact that a coin has grown hundreds of thousands of times its market in 10 years.
Again in the case of gold, the same graphical market can be seen, but it does not fluctuate as much as Bitcoin, rather the gold market fluctuates in a steady form. If you look at the graphical chart of the gold market from today, you will clearly understand that gold is in a good position like Bitcoin. So, if someone wants to invest strictly, then they can invest in both the valuable assets, but if the long-term holding is thought of, the matter will be more important.

Sonia_123

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Bitcoin and Gold are easy to sell You can sell both of them whenever you want because their is market for it , but Bitcoin seems to be faster in buying and selling because it's value tends to go up faster than gold,and can be kept in a wallet,but gold can't be keep in a wallet and if invested will give you a better return and Bitcoin transaction is digital and being made on a reputable regulated exchanges while gold is physical which poses alot of risk and danger for the trader. In gold, you need to be able to identify the original from the fake and the quality which will determine the selling price .

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Quote from: Wiwo on August 07, 2024, 03:09:51 PM

I was expecting you to finish up your comment with the process of buying and selling gold, since you already analysed how easy it is to access bitcoin and also selling it at the same time, but the truth is that, aside from gold plated guweries I haven't seen real pour gold before, so that shows how unaccessible gold can be compared to bitcoin.

I will still accept statements such as bitcoin being the digital gold, and bitcoin performing the rule of alternative to all traditional old assets in terms of everything scalable.

The process of buying and selling gold varies widely especially from country basis, in certain countries you can only buy them from banks and in others you can see jewelry shops that also sells gold blocks and coins. I am not sure where you're from but here in my place buying and selling is fairly simple but have to pay taxes while buying and selling if we do it in right way. And the availability of 99.999% gold is almost around every corner where you can buy and sell gold at the current market price.

Quote from: Viscore on August 08, 2024, 09:02:30 AM

Both are profitable assets but the only difference is that you end up selling gold quite lower than its original price but with bitcoin, it’s value is likely to appreciate more so you will end up selling bitcoin at a higher price compared to the first you bought it.

However, when it comes to selling them, knowing bitcoin is more expensive than gold, I think you will sell gold faster than bitcoin just buy dropping it in nearby pawnshops, but with bitcoin, if you want to sell a large portion of it, it may take some time before you can find a good and reasonable buyer that will stick to your own price, not their price.

Gold is not that profitable in the last 10 years but it has been stable all the time and that's the difference between bitcoin and gold.

You have gold rate changes every day and that is the same all across the country unless your state includes any excess taxes on buying and selling so there is no need to sell your gold for lower price than the market rate unless you are talking about gold jewelry which is not pure gold. Hence, you only get the price for gold in the gold jewelry.

So anyone buying gold as an investment should only buy blocks/coins.

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If you compare selling gold and selling BTC, of course there are differences and of course everything has the same risks. Yes, the point is that selling gold is of course we have to be able to choose people who bid high for our gold because of course if we are not good at selling gold, of course the profit we get will not be. There could even be big losses and it certainly depends on whether we are clever or not in making gold buying and selling transactions.

and if you think about it, selling bitcoin is an easy way, but what is certain is that in selling btc we also have to be clever in selling because if we sell btc at the wrong time, for example when there is a price drop while we buy btc at a higher price than At the selling price, of course we will incur a loss, so the point is that in this case it depends on our skill in buying and selling transactions btc

Yes, basically I see that BTC and gold certainly contain risks and these two assets certainly have advantages and disadvantages, but what is clear is that selling BTC is an easy way because you just click, but of course you have to know the right time to sell BTC.

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Quote from: Findingnemo on August 07, 2024, 01:54:51 PM

Buying and selling of Bitcoin and gold are completely similar.

The only difference is that Bitcoin is present virtually so you can't feel the presence but buying them can be done in a lot of methods, let's say you register on exchange, complete KYC then funds your wallet then buy BTC then move it to your wallet. Or you can just find someone who takes your money and send BTC.

The process same for selling too, cause there are multiple ways and I bet gold goes through the same category too.

Both are profitable assets but the only difference is that you end up selling gold quite lower than its original price but with bitcoin, it’s value is likely to appreciate more so you will end up selling bitcoin at a higher price compared to the first you bought it.

However, when it comes to selling them, knowing bitcoin is more expensive than gold, I think you will sell gold faster than bitcoin just buy dropping it in nearby pawnshops, but with bitcoin, if you want to sell a large portion of it, it may take some time before you can find a good and reasonable buyer that will stick to your own price, not their price.

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Quote from: Dr.Osh on August 08, 2024, 08:13:15 AM

However, both of these have their respective advantages and disadvantages. Personally, I don't mind either one, as I find them both easy to sell. However, in terms of efficiency, Bitcoin is far superior. The problem right now is, I don't have enough bitcoin and gold to sell Grin

In terms of value, Bitcoin may be better, but for official recognition of value, gold is the best. In fact, most people seem to make gold as an object of savings. Although its value does not increase more than Bitcoin. If you compare the two, Bitcoin is still very new and young while gold, it has been around since ancient times. This means that Bitcoin is still in the early stages of recognition and still needs time for adoption by the world's people.

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Yes, if it is easy, then Bitcoin will be easier to sell because technology is developing so quickly. However, in my area, there are several places that can buy and sell gold directly and quickly. I don't know what the limit is for that, but if it sells in small pieces, it's very fast. That's because I once sold a few grams of gold.
However, both of these have their respective advantages and disadvantages. Personally, I don't mind either one, as I find them both easy to sell. However, in terms of efficiency, Bitcoin is far superior. The problem right now is, I don't have enough bitcoin and gold to sell Grin

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A pawn shop isn't designed as a good place to buy or sell previous stuff. It's more for loans where things are taken as a collateral, the way I see it. But it's a good point that it's easy to figure out how to buy and sell Bitcoin, while selling gold is more complicated. You can try to google and find a place to do that, but there's no system, you might get scammed or just get less money than the nominal market value it. Also, gold has to be physically carried, which is not only uncomfortable but also a potential risk of getting robbed if you just carry it around. So I agree gold is more convenient, although perhaps gold is also safer in terms of price fluctuations.

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Quote from: ThemePen on August 07, 2024, 09:25:41 PM

I totally agree that buying gold is easy but selling it is big problem. Finding trustworthy buyer getting good price and dealing with security issues makes it very hard. There is also risk of getting fake gold or being cheated. On other hand selling bitcoin is very easy and fast just few clicks on your phone or computer. Digital transactions are safe and convenient making bitcoin better choice for those who want to sell quickly. Gold is valuable but selling it is too much trouble, so bitcoin is a better option for those who want it easy and fast. And one more thing which I will add that Gold is not easy to store but Bitcoin is easy to store online.

Investing assets in gold face problem since first time buying until selling later its not matter with for of gold in digital product or have real product, in my country Indonesia every gold investment taken bigger taxes fee transaction or for gold digital form and real gold taken much fees by the seller for every buying and selling it.
I agree with OP comparison how easily for investing since buying until selling bitcoin gold and bitcoin without taken bigger fees for transaction and have easily for sell it behind how much transaction volume of bitcoin.

But difficult to make many people realize how easily when investing in bitcoin keep excited for saving their assets by investing in gold, maybe some people do not know well about bitcoin increasing price year by year and high return profitable earn than gold with few percent increasing only but in my country have got loss firstly after paying taxes transaction fees before buying gold.

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Quote from: headingnorth on August 07, 2024, 02:17:15 PM

Quote from: yudi09 on August 07, 2024, 02:01:25 PM

-snip-

Where do you find a shop near you that will give you a good price other than a pawn shop (where you will be lucky to get half of the spot price)?

Where I buy, I'll sell at a price that's not much different from the current purchase price even though I don't make a profit. If I sell gold now at the price I bought it last year, I'm already in a profitable position.
My local country is easy in terms of gold transactions. It just takes time to get to the shop because I don't live in an urban area.

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Quote from: leonair on August 08, 2024, 03:08:23 AM

bitcoin and gold are both very valuable asset and then price of the both asset are increase day by day just one is physical and another is virtual. if possible and if you have enough ability then hold both for long time. selling bitcoin or gold are not smart thinking. you can see the past price of bitcoin and gold and the present price of gold and bitcoin. so keep holding bitcoin and gold as much as possible

From what you suggest, this is not wrong because everyone can also see how the price of Bitcoin and gold compares in the past with the present so there must be a mature consideration when you want to sell it. However, if someone is faced with difficult conditions and requires him to sell one of the assets from the two asset models that have been owned, of course it would be better for him to sell gold and keep Bitcoin. Because the increase in the price of gold is not that sharp and significant every year even though the increase is a certainty.

But if the increase in the price of Bitcoin itself, I see that it is always more significant and sharp in each cycle so that it can cause someone to no longer be able to buy in large quantities when they have sold it at the current price. As for gold, it is still possible to get it back in a certain amount even though it has to add a little capital because the price increase is not far enough from the price we sold it at. But all of that only depends on each person's thinking and my thinking is as I said.

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bitcoin and gold are both very valuable asset and then price of the both asset are increase day by day just one is physical and another is virtual. if possible and if you have enough ability then hold both for long time. selling bitcoin or gold are not smart thinking. you can see the past price of bitcoin and gold and the present price of gold and bitcoin. so keep holding bitcoin and gold as much as possible

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Quote from: ThemePen on August 07, 2024, 09:25:41 PM

I totally agree that buying gold is easy but selling it is big problem. Finding trustworthy buyer getting good price and dealing with security issues makes it very hard. There is also risk of getting fake gold or being cheated. On other hand selling bitcoin is very easy and fast just few clicks on your phone or computer. Digital transactions are safe and convenient making bitcoin better choice for those who want to sell quickly. Gold is valuable but selling it is too much trouble, so bitcoin is a better option for those who want it easy and fast. And one more thing which I will add that Gold is not easy to store but Bitcoin is easy to store online.

Where do you buy gold from? If you can buy gold easily, why is it difficult to sell gold when gold stores are always ready to buy back gold at any time? This may sound absurd.

I don't know what your and OP's country is like and whether what you two said is true or whether you are intentionally distorting the truth. But in my country there are many gold shops and it is not too difficult to find them, you can buy and sell gold in just a few seconds as long as your gold is real gold. Buying gold is not easy to be deceived if you buy and sell at stores and centers with business licenses and you will even be issued a certificate with your gold product to ensure quality.

Regarding bitcoin, everything will become easier because it is only virtual money and not physical money like gold. But you can also get scammed if you buy BTC through P2P trading with scammers. Regarding storage, with large amounts of gold, storage is difficult because it is quite cumbersome, however with bitcoin you will also encounter risks such as viruses, forgetting seed phrases...Nothing is perfect and both have pros and cons.

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Quote from: headingnorth on August 07, 2024, 02:17:15 PM

Where do you find a shop near you that will give you a good price other than a pawn shop (where you will be lucky to get half of the spot price)?

I don't know about the USA but in the EU there are several online portals where you can easily buy and sell gold. In many of them they don't charge you commission for the shipping from a certain amount or with no minimum amount. For example, in https://www.bullionbypost.eu If you buy a 10 gram gold bar you will be charged about €735 and if you sell it you will be paid €683. It is clear that they have to do business, and the difference between buying and selling is very far from what you say they give you in the pawn shop.

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That's why gold isn't a good choice to for investment or make your money grow, it's only good as a store of value. Buying gold is like the end game when you have more money, but don't know what you should use the money for.

Quote from: Rruchi man on August 07, 2024, 03:02:32 PM

Bitcoin can be difficult to sell too, and gold can be easier to sell too in an instance where someone has transacted before with a gold buyer and decides to keep their contacts for future transactions.

Sending from non custodial wallet to exchange with top priority (10 minutes), login, sell the coins on the current rate, withdraw the money to banks, that's. I believe it's less than 30 minutes, there's nothing difficult.

Quote from: Captain Corporate on August 07, 2024, 03:27:25 PM

I don't know where you live, but both of these things are literally just digital... Why are you finding a buyer that pays good money for your gold? Isn't it digital where you are? Like you guys don't have banks that does this for you? I personally have my bank app in my phone, and my crypto exchange (binance) on my phone too. So for me, exchanging lira to gold

You're buying "fake gold" instead of "real gold", gold is a tangible asset. It's the same like you're buying WBTC, BTCB, Bitcoin ETF etc instead of BTC.

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Quote from: legendbtc on August 07, 2024, 10:02:18 PM

I would choose bitcoin over gold for many different reasons, but I like the fairness of comparing the two.

Bitcoin and gold belongs to different types of asset so it's big difference between them, like we can not compare Bitcoin adoption and Internet adoption fairly. Any comparison must be made carefully and neutrally so people who are new won't have misleading information toward Bitcoin like Bitcoin is the best.

Quote

Gold has a capitalization of more than 15 trillion while bitcoin's capitalization only reaches 1 trillion and that means it has many times more liquidity than bitcoin. Gold has a long history and is recognized worldwide, there are millions of stores that buy and sell physical gold in every country and region in every corner of the world. So it would be ridiculous to say that selling gold is more complicated than bitcoin.

Market capitalization of Bitcoin and gold.
https://companiesmarketcap.com/assets-by-market-cap

More gold will be mined and available in circulation and we can not know the maximum available physical gold in future. With Bitcoin, we know it, there are only 21M bitcoin and it will help its value and price because supply and demand principle.

How is the 21 million bitcoin cap defined and enforced

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I would choose bitcoin over gold for many different reasons, but I like the fairness of comparing the two.

Gold has a capitalization of more than 15 trillion while bitcoin's capitalization only reaches 1 trillion and that means it has many times more liquidity than bitcoin. Gold has a long history and is recognized worldwide, there are millions of stores that buy and sell physical gold in every country and region in every corner of the world. So it would be ridiculous to say that selling gold is more complicated than bitcoin.

Most of us here would choose bitcoin because we need privacy and bitcoin is superior to gold in this regard. Or we choose bitcoin because we want to make big profits from its volatility, while gold is suitable for people with large capital and like stability.

There are a lot of threads comparing bitcoin and gold, and most of them just aim to demonize gold and glorify bitcoin, but that never makes bitcoin better.

Topic: Selling Bitcoin vs. Selling Gold - page 4. (Read 1060 times)