Topic: Why Bitcoin Instead of Gold? - page 3. (Read 889 times)

your explanation does make sense too, because if we had both of course it would be even better, but what the op asked in my opinion is this, why do people prefer btc over gold? yes, personally, of course, I prefer BTC because investing in BTC can potentially get large profit, but if investing in both, namely BTC and gold, of course it's better because we can potentially get maximum benefits.

Gold rises when a war is approaching, or the conception of an imminent war.
This very conception is also very likley responsable, or at least partly, for the turbulences on stock market and crypto.

We can see that the price of gold has increased tremendously over the past few days. As gold is a natural resource, and it is always preferred by people and invest more in gold than Bitcoin. There is a huge demand for gold in a country to change their economic situation, and if a country's economic situation worsens, it can be met with gold. However, Bitcoin is now preferred over gold in many countries, and this virtual currency has become more popular than gold in just a few years. Although gold has been around for hundreds of years, the virtual currency Bitcoin has gained more popularity than gold. Since Bitcoin is currently invested and preferred by most people, with Bitcoin being preferred over gold, the future of Bitcoin is clear and imminent.

Well once you compare the amount the NY stock exchange moves with the market cap of crypto or BTC, if you are a maxxi, you'll see how important Crypto is in the world outside of the crypto bubble.

If you invest in bitcoin and the loss is your fault, don't blame bitcoin for being too risky. Because if you are serious about investing, you are fully prepared with knowledge and understanding of bitcoin, I bet you will never lose. But if you think making money from bitcoin is easy, without experience, knowledge and just need to invest to get rich quickly, then losses are natural. Bitcoin or gold are both risky, and whether you lose or gain is up to you.

I don't think people who are capable of investing in both will only choose bitcoins because they know the opportunity to invest in gold is also good and stable. As for those who only want bitcoins, they also have enough reasons why they doing that especially those who choose to hold it for the long term. While bitcoin investment is growing all over the world, gold doesn't really get affected by it since they are different from each other, and there's no wrong when you can only afford bitcoins in the meantime.

So I can either have 1 bitcoin or 500 grammes of Gold in physical form or in the form of a
paper certificate for approximately and currently $30,000.

If I own physically 500g of Gold I cant leave it just anywhere it has to be in a safe.
If I want to transport it there are security issues. What about if a massive Gold deposit
is found somewhere, will it devalue what I have already? probably not because the price is
controlled!

So Bitcoin:
Borderless
Digital
Decentralised
Deflationary
Finite
Global
Proven
Secure
Self Custody
Transportable

GOLD. Ancient relic. Valuable? Yes, exactly. Stable? Most of the time. Still, its foreseeable. the ascent of Bitcoin and its wildly popular status? It demonstrates how far humanity has come. We have always been explorers and pioneers. With the digital future at hand, why hold onto the past? Without a question, gold has historical significance. Trade, art, and millennia of battles have all revolved around this metal. But my friend, this is the Information Age!

The meaning of bitcoin extends far beyond simple financial investment. It is a decentralized revolution, a movement. Bitcoin has demonstrated its potential in just 14 years, surpassing the centuries of gold's hegemony. For what reason? since digital assets are necessary in the digital age. You are right to notice that the trajectory of Bitcoin is not accidental. Its a reflection of the direction that our species is taking. Frankly, those who fail to recognize that are stuck in the past. Its time to acknowledge the changing tides and wake up. the era of gold? Its the past

I know Bitcoin more than gold.

That's the simplest answer that I can say and I've got more experience with its volatility than gold. While gold isn't as volatile as Bitcoin, I like more bitcoin because it's more rewarding.

And if you've been here for the longest time, you'll prefer Bitcoin than gold. Even those gold investors are seeing the huge gap of owning and investing in Bitcoin.

Indeed, in my opinion, gold is suitable as a store of value, because the risk of investing in gold is not too high, while investing in BTC has a very high risk, not even a few people who invest in BTC experience losses.

but to be honest I personally prefer bitcoin because the profit I get from BTC is huge, and to be honest I have felt a lot of profit from investing in BTC.
I think in this matter of course everyone has a different opinion. because there are people who are ready to take big risks and there are also those who are not.

The best part about Bitcoin and crypto is the are more safer to keep, no one will know that you have your money hidden in a words, you can leave your country and pass strict searches on the road, and nothing to implicate you, and you have the words you have your Bitcoin and it goes wherever you go.

Gold isn't bad but moving it around is not cool, they are visible and not easy to move around from one location to another, Always remember that where there is gold there is blood, The reason they say this is because once people set eye on your Gold they will lose their mind and want to make it theirs, this will most likely result into violence.

It's good to invest in both but what people can't see is more safer than what they can see, Golds can be found and picked up but not Bitcoin, most people don't even know what bunch of words are for.

I have bitcoin - I also have gold. Both of these investment assets are great for your investment options - but bitcoin performs better than gold. Bitcoin is different from gold - you need to look for more differences between the two based on your investment plan.

No need to argue about which is better and which is more profitable - but if you ask me, of course bitcoin has been my investment asset more than gold. Also, you don't need to put 100% of your investment budget into bitcoins - while you should still diversify your assets to other investment assets if you don't plan on keeping fiat.

Actually I don't really care about the debate between these two investment assets. Because basically, people who choose to invest in gold, it means that it is their choice, and so with people who decide to invest in bitcoin, it is definitely a well-thought-out decision. After all, bitcoin and gold have very different elements and systems. Because just like gold which has a physical form, and while bitcoin does not have a physical form. Besides that, bitcoin was also born in the digital world, in contrast to gold, which is in the ground on this earth. Then these two assets are indeed produced by mining, but both of them have different ways of mining. Because bitcoin is mined by breaking the code, and while gold is mined by digging the ground first, then after that it is processed. There are even people panning for gold in the rivers.
So with that being said, bitcoin and gold have some very visible differences.

So basically, gold and bitcoin are assets that really have made lots of people profit/rich. So why compare these two assets, because basically both are equally valuable and profitable for humans. So I personally am not too fanatical about gold assets or bitcoin assets. Because right now, I'm investing in both assets. The first gold I knew and the first I made an investment. Then after that, get to know bitcoin. So in my personal opinion, there is no need to be confused about debates like this, because basically the debate between gold and bitcoin is definitely a matter of choice. And this is very reasonable.

I'm in the same shoe with Agbe and I believe a greater number of our people are too. It's not that easy beholding raw gold except one visits a gold mine. It's the same way we can't boast of sighting Bitcoin. Though I've heard of Bitcoin ATMs, I don't get how that work.

To respond to the OP, the depth of my attachment and love for Bitcoin stems from the fact that I treat it as cashless. Anything cashless doesn't drag physical burden with it and this is what I enjoy with Bitcoin. It's just an investment or cash in the air for me, to be tapped with ease anytime I want; provided I own it.

Debating which is better between gold or bitcoin is not really important to me because both have their advantages and disadvantages. I personally choose both to be used as investment assets, because after all gold is a much more stable investment instrument compared to bitcoin and an investor certainly needs to have safe assets which are not too volatile and can be a backup for their funds.
And for Bitcoin, I chose it because it's a potential asset and it's great to hold. The potential for me to be able to get an investment value of 1x or more is also bigger in Bitcoin, that's why I still choose to hold this because the potential is better than gold.

Gold is legalised, whereas Bitcoins are still not legal in many countries. But that does not means Golds are the best. Gold are centralised and it’s controlled by the government. They impose many tax on it and hence making it similar to fiat. On the other hand, cryptos are best as they are decentralised in nature. You will have full control on your own finances here. Many youth like Bitcoins for this feature and hence will choose Bitcoins over gold.

1. Gold is visible and you can't hide it when transporting a large quantity but you can move 20 from one place to another easily by taking your PC as your cold storage from one place to another.
2. Bitcoin is highly volatile than gold and you can make more profit from bitcoin than gold,if you use the same amount of money to invest over a given period of time.
3.If you don't know original gold,you can be deceived and pay for a fake gold but bitcoin has no fake because it is a digital currency that is bought through p2p method.
4. Gold has being existing since ancient of days and we have seen its future but bitcoin is newly created and still has a brighter future to come.

The short answer is that gold doesn't work anymore as inflation protection. For my grandparents gold was the number one asset to invest their money if they wanted protection against crisis and inflation. Unfortunately this relationship doesn't seem to hold anymore. The last 2 years we are faced with international crisis like the Ukraine Russia war and have inflation rates of 7-12% around the world. However, the gold price didn't change in value. Anybody that tried to save their money by moving it all in gold lost a lot of value due to inflation. On top of that is gold quoted in US Dollar which could lead to losses if there is big changes in the exchange rates. Bitcoin on the other hand recovered quite a lot from their 16-17k levels and outperformed gold, it's a much better investment.

That's because you have never bought gold, you cannot own what you don't want to buy; you own BTC because it was your choice of an investment, so this isn't a reason why someone should buy BTC over gold.
What do you mean by this?
BTC is used over the internet so there is no problem moving it, but even though gold is physical you don't have to always buy gold in its physical form, you can also invest in gold without owning it, through Gold receipts, Stocks, etc.

Many conservative investors reject bitcoin, for them gold and real estate are a priority. It works for them because they have a lot of capital, which is enough to make a good profit. But for those who do not have sufficient capital, mainly young investors, they will be looking for an asset that can give a significantly higher return in a shorter time, bitcoin may be suitable for this. The risks are greater, but the reward can be much greater.