When the dollar collapsed, gold and bitcoin which is the best alternative?

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Quote from: BitHodler on December 18, 2016, 09:37:23 AM

I look to buy no more than 50GR of Gold since it's quite expensive already when you also calculate in that 10% premium.

Yes, even though Gold is a divisible currency tool, it's not on the same level as Bitcoin when it comes to buying small amounts. If I want to buy like 0.05BTC, then at current rates of $792 it would cost me $39.60 + 0.20% fee will bring it to $39,68, but that's something I consider to be peanuts. If I want to buy 1 gram of Gold, I end up paying nearly 50% over the actual Gold price. With Gold you're subject to paying insanely high premiums if you just stick to small amounts (which is perfectly understandable due to the kilo price of Gold). If you really want it, then go for it, but I personally don't really see the need of it. Better wait for the price of Bitcoin to come down a little more, and invest your money there.

kryptqnick

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The time we say goodbye to USD is definitely coming some day but it can be a very remote future. At that time some other country might become the strongest and we will be just orientating on its currency. So, there might not even be this situation of collapse causing much of panic, because people will get used to some other currency at that time anyway. Gold or bitcoin? If the time is good and people are peaceful then btc. If it is war everywhere then gold.

Cactushrt

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I think gold is good alternative because when we say gold it is a really higher profit than a bitcoin then we all know gold will make you profit there are no risk in gold i think unlike bitcoin maybe next day will gone just saying

Factmine

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Quote from: Red Fish on December 18, 2016, 10:43:40 AM

Dollar will not collapse, USD is one of largest world currency, and Bitcoin users are very small part from whole world market. Blockchain wallet have 10+ millions users, it is nothing in fact for whole world.

The question was a hypothetical one, so you should not really be arguing against the hypothetical question.

Regards the issue at hand, I think gold is the better option here. Bitcoin might be quite more profitable to hold however if you are looking to store money then probably gold is much more stable as a vessel for finance. However, gold's value will probably increase by a whole lot if USD collapses.

Red Fish

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Dollar will not collapse, USD is one of largest world currency, and Bitcoin users are very small part from whole world market. Blockchain wallet have 10+ millions users, it is nothing in fact for whole world.

error08

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Quote from: machinek20 on December 18, 2016, 09:21:36 AM

Gold can be replacing currency if somehow nobody want to used currency anymore to become the transaction tool, bitcoin is not a good option because bitcoin amount is not enough to be used as international currency in large scale

Whether gold and bitcoin are suitable to replace any currency that have been existing until now.
Gold is so valuable and has been used for centuries as medium of exchange which is so precious based on its benefits.
Bitcoin is often called digital gold, we know that bitcoin would be the greatest digital currency in the future and has been proven more valuable over time. There are so many advantages that bitcoin offering to users and already redefined money with blockchain technology.

BitHodler

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Quote from: 1Referee on December 17, 2016, 06:42:57 PM

[2] You are looking at amounts as low as a few grams of Gold, up to perhaps something in the range of 50 grams. In this case it's normal to see that the prices are way higher than the exchange rates. That's the same here with me. The higher the amount of Gold in grams you look to buy, the closer the purchase amount will be to the normal exchange rate.

In that regard, a 10% premium isn't all that bad if you are buying it from a website or physical store.

Then it's most likely something like that. I look to buy no more than 50GR of Gold since it's quite expensive already when you also calculate in that 10% premium.

I am planning to buy around 25-50GR of Gold every year which I want to hold as some sort of store of value, but also in case something happens where Gold will be the standard for whatever timeframe.

Diversifying isn't all that bad when you just stick to no more than 2 or 3 investment options/tools. If you diversify too much, then you'll easily lose track of things.

machinek20

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Gold can be replacing currency if somehow nobody want to used currency anymore to become the transaction tool, bitcoin is not a good option because bitcoin amount is not enough to be used as international currency in large scale

Botnake

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Gold is always an alternative even dollars are still stable, but if such scenario will happen then most of the smart people might put their money in bitcoin and that will be great for the community and worst for dollar. Either way, I don't see the collapse of dollar happening in the future, it's a strong currency and will continue to be strong.

Seansky

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When dollar collapsed, in my opinion gold will be the best alternative to it as a medium of exchange all over the world. Although bitcoin really have potential right now, people will choose gold since it has been around for a very long time whereas bitcoin is here only for years that for others will be hard to trust because it might lose value unlike gold which for them have proven its worth. By that time though I think bitcoin will also be used as another medium of exchange but not the main one.

nanay777

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Gold can stand up to say that human history has always been the case, is the law. While bitcoin is trying to break the rules of the people. The more difficult to break the law breaking after the impact of the greater, bitcoin so, life is also so. Bitcoin has the nature of venture capital, although its success or failure is uncertain, but I think that throughout the long history, more important than a success or failure of more than one is the right direction to try again and again.

mrcash02

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Quote from: salmanahmedone on December 18, 2016, 12:00:08 AM

Quote from: MFahad on December 17, 2016, 02:38:18 PM

Quote from: Vaskiy on December 17, 2016, 12:43:31 AM

Collapse of dollar is not gonna happen, unexpectedly if it happens too gold will be preferred as an alternative. The reason is the acceptance as a form of investment among the entire world. Bitcoin is very young to reach people, as we are just 2-5% of world population.

Yeah exactly, there are many allegation nowadays regarding the crashing of dollars like what if it going slow,
dollar will never be crashed or collapsed, and up stated is correct

If thing happened so gold will be chosen to be an alternative one for its already accepted by everyone, and yes bitcoin is still young and still reaching by other, yet not that known as gold.

I think it makes no sense. Even if Dollar crashes, what is almost impossible in my opinion, people won't migrate to gold, people will use another currency, probably a new one would be created to replace Dollar. Anyway I don't see any reason for this happen in the next 50 years. Dollar is one of the most stable coins of the world. Dollar rules the world.

salmanahmedone

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Quote from: MFahad on December 17, 2016, 02:38:18 PM

Quote from: Vaskiy on December 17, 2016, 12:43:31 AM

Collapse of dollar is not gonna happen, unexpectedly if it happens too gold will be preferred as an alternative. The reason is the acceptance as a form of investment among the entire world. Bitcoin is very young to reach people, as we are just 2-5% of world population.

Yeah exactly, there are many allegation nowadays regarding the crashing of dollars like what if it going slow,
dollar will never be crashed or collapsed, and up stated is correct

If thing happened so gold will be chosen to be an alternative one for its already accepted by everyone, and yes bitcoin is still young and still reaching by other, yet not that known as gold.

1Referee

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Quote from: BitHodler on December 17, 2016, 11:44:21 AM

I understand that stores selling Gold want to make profit, but this way they are only creating a huge distance between a potential buyer and themselves. Greedy bastards.

I think the main problem is either one of these two options;

[1] The sellers are indeed greedy as they charge insane premiums.

[2] You are looking at amounts as low as a few grams of Gold, up to perhaps something in the range of 50 grams. In this case it's normal to see that the prices are way higher than the exchange rates. That's the same here with me. The higher the amount of Gold in grams you look to buy, the closer the purchase amount will be to the normal exchange rate.

In that regard, a 10% premium isn't all that bad if you are buying it from a website or physical store.

BitcoinPanther

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Quote from: qiumingsa on December 16, 2016, 11:41:05 PM

Bitcoin, the digital currency is the first world, one day when the dollar will collapse, it will exceed the value of money, to replace the dollar!

Bitcoin will never replace dollar even if dollar collapse, the government will find a way to replace it with the same dollar but not crypto currency especially the decentralized one. Even with bitcoin faring well against other currency, the decentralization makes it unattractive to the government. They might adopt the technology but am sure they will leave out decentralization and anonymity.

deisik

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Quote from: ikydesu on December 17, 2016, 04:04:27 PM

Gold can be an option, but the exchange system will be back to thousands years ago, and since people think it's commodity, but in fact gold is money

There is no need to travel thousands of years back in time

The system with gold as money had been pretty well thought out and was active some 100 years ago. If we are going to return to gold standard as many are suggesting, there is no need to use real, physical gold for most of transactions. The system that had been in use a hundred years ago (so-called gold exchange standard) was based on paper money fully backed up by gold, and real gold was used only for settling accounts between countries and separate banks. There would be little to no issues to use this system again today with digital fiat 100% backed up by gold

CyberKuro

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Quote from: mayxi865 on December 15, 2016, 11:26:31 PM

What will be the medium of exchange for the world economy after the collapse of the dollar?

First, dollar won't ever collapse as the State are super power and they have strong economics foundation.
Assume that dollar collapse, still there are some better currencies such as Euro or Pound as they have higher exchange rate.
Bitcoin in the future will be a good option as international major currency if the market cap getting bigger and has highest stable price, we do expect that.

ikydesu

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Quote from: mayxi865 on December 15, 2016, 11:26:31 PM

What will be the medium of exchange for the world economy after the collapse of the dollar?

If there are these two option, i think bitcoin is solution, remember greece fiat collapsed? Bitcoin replaced it, although there are just for a temporary use.

Gold can be an option, but the exchange system will be back to thousands years ago, and since people think it's commodity, but in fact gold is money.

Anyway i think government will not let their fiat collapsed, if it's happens they will create fiat V2.

Pierre 2

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I guess silver would be way to go if that happens.
Or oil? I dont know for sure but there will always be some options to fill minuses.

Shenzou

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Dollar has been the international currency for too long and that is mainly for the us to on the top of the economy of the word , so if the dollar collapsed the >Euro might take its pace since it is the second currency on the market , i don't see governments using bitcoin as an international currency because that does not serve the benefits of some countrys and because if they use bitcoin china will become the leader of the economy.

Topic: When the dollar collapsed, gold and bitcoin which is the best alternative? (Read 1565 times)