Why Bitcoin Instead of Gold? - page 4.

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Quote from: Bd officer on August 21, 2023, 01:45:58 AM

Quote from: Crypto Vira on August 19, 2023, 10:34:17 AM

The answer to a debate that is constantly discussed on social media accounts and news outlets may open doors to different answers for everyone. So, Why Bitcoin Instead of Gold for you?

If this topic has been discussed before, I would appreciate it if you could enlighten me.

First, investing in Bitcoin is riskier than gold. But since Bitcoin has been around for 14 years, people have believed in their hearts, investing in Bitcoin is unlikely to cause a huge loss. Compared to investing in gold, investing in Bitcoin has many advantages. You can sell Bitcoin whenever you want without going to any market or store. But in selling gold, you must go to a market or a gold shop. Investing in Bitcoin has many advantages over gold in many other ways.

before knowing the advantages of bitcoin over gold, of course we have knowledge about bitcoin, considering that without knowledge, bitcoin investment can be bad for us, besides that there are also advantages and disadvantages of both, so we just have to decide which one to invest in. people will feel comfortable and calm when holding gold, but not necessarily everyone who holds bitcoin will be able to feel the same way, given the higher fluctuations in bitcoin

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Quote from: Bd officer on August 21, 2023, 01:45:58 AM

First, investing in Bitcoin is riskier than gold. But since Bitcoin has been around for 14 years, people have believed in their hearts, investing in Bitcoin is unlikely to cause a huge loss. Compared to investing in gold, investing in Bitcoin has many advantages. You can sell Bitcoin whenever you want without going to any market or store. But in selling gold, you must go to a market or a gold shop. Investing in Bitcoin has many advantages over gold in many other ways.

Advantages are enough or not enough to convince people to choose Bitcoin than gold, it's personal choice and if a person sees advantages outperform disadvantages, he will pick Bitcoin. Oppositely, he will reject Bitcoin and pick gold or other assets.

The elderly will tend to reject Bitcoin as they belong to old school generation and less likely to accept new technology like blockchain and new modern asset like Bitcoin. With them, advantages are not enough as they need something they are familiar with so that they feel safe with it.

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Quote from: Crypto Vira on August 19, 2023, 10:34:17 AM

The answer to a debate that is constantly discussed on social media accounts and news outlets may open doors to different answers for everyone. So, Why Bitcoin Instead of Gold for you?

If this topic has been discussed before, I would appreciate it if you could enlighten me.

First, investing in Bitcoin is riskier than gold. But since Bitcoin has been around for 14 years, people have believed in their hearts, investing in Bitcoin is unlikely to cause a huge loss. Compared to investing in gold, investing in Bitcoin has many advantages. You can sell Bitcoin whenever you want without going to any market or store. But in selling gold, you must go to a market or a gold shop. Investing in Bitcoin has many advantages over gold in many other ways.

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Quote from: Crypto Vira on August 19, 2023, 10:34:17 AM

The answer to a debate that is constantly discussed on social media accounts and news outlets may open doors to different answers for everyone. So, Why Bitcoin Instead of Gold for you?

If this topic has been discussed before, I would appreciate it if you could enlighten me.

well, I think people prefer bitcoin because of bitcoin's ability to quickly increase the assets we have. although the risk is indeed greater than gold, however, I think many people are ready to take that risk. In addition, people who prefer gold are those who choose a smaller risk in investing, or those who already have a lot of money and save it in gold.

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Quote from: DapanasFruit on August 21, 2023, 12:00:31 AM

There are many good reasons why more and more people are preferring Bitcoin over gold though am not saying that investing in gold can be a bad decision as both assets can be working for anyone. Now, Bitcoin is digital while gold is physical so BTC has no problem in terms of transporting it and hiding it away from the prying eyes of the authorities in case you are looking for greater privacy. We must remember that both got big advantages and disadvantages so if given an opportunity I will be investing in both.

Basically if you read about the future and past of gold in detail then you will know that gold has been investing in it since ancient times. This gold has been circulating for hundreds of ages where everyone used it and still everyone uses it and people invest the most on its popularity and more gold. But the question here is why people are so popular in Bitcoin than gold. Currently, we have seen that Bitcoin has been around for only 14 years, in which its popularity has increased a lot. While people are currently more willing to invest in bitcoin than gold, we have seen a time when the value of bitcoin exceeded the value of gold. and when the value of bitcoin exceeded the value of gold, those people believed in bitcoin the most and this virtual currency became so popular in a short period of time that it captured people's minds. And those who hold bitcoins now will definitely benefit more than gold in the future because when the value of bitcoins increases, it will surpass the value of gold.

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There are many good reasons why more and more people are preferring Bitcoin over gold though am not saying that investing in gold can be a bad decision as both assets can be working for anyone. Now, Bitcoin is digital while gold is physical so BTC has no problem in terms of transporting it and hiding it away from the prying eyes of the authorities in case you are looking for greater privacy. We must remember that both got big advantages and disadvantages so if given an opportunity I will be investing in both.

spectre71

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I challenge anyone here to got to a garage sale, flea market, coffee shop or gas station without selection and buy something with a bitcoin. Go for it see what happens. Nothing but blank stairs.

Sure as an investment sure it CAN and will excel at some point. What if you need some money for a oral surgery and you need cash. How does bitcoin look when your 33% down at the moment? It's going to take some work to make up that loss. Little bit of evil fiat on hand is handy, I can cash in the silver or gold at spot or slight loss now. No biggie.

What happens if a screaming opportunity comes by but your all lock up in BTC undrwater with no other assets on hand? You lose. (opportunity cost).

I suspect allot of you are really young like 33 or less and haven't seen enough and parrot other is threads.

Oh it's limited amount, oh it will go up over time, it's so portable and fast... Blah blah..

May be true but stop counting on the best possible scenario and hedge against middle of the road worst.

Read the books by the winners, not listen in an echo chamber of what you want to believe.

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One thing that encourages people to choose Bitcoin and that is the profitability of Bitcoin is insane that it leaves gold profitability to dust. We must admit it, it is more on profitability that we choose Bitcoin, any other reason is just secondary.

Quote from: spectre71 on August 20, 2023, 04:42:00 PM

Don't forget if your looking portfolio diversity you can hold preciouses metals (or a blend of) in an ETF and that negates the physical security part. But now your on radar.

If you can't have bitcoin, you could possibly own Micro Strategies giving some exposure to BTC.

Think outside the box people
I personally have a blend of this.

All in one one, you are stupid, period

I highly agree, most investment gurus remind us not to put all our investments in one basket. It is always good to look for diversification so that if one investment is not performing well, another investment can kick in and can even save our other investment from being liquidated since we can have enough funds from the profit on the profit of another investment venture that is performing well.

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Quote from: doomloop on August 20, 2023, 02:02:16 PM

I don't choose one out of the two, and my reason for purchasing any of them would totally be dependent on my financial goals and targets. If I'm looking for quicker profits and ready to risk my money, I would go with Bitcoin, even after knowing that though I may not lose my money but it can get devalued for years if the cycle restarts since I will then have to wait for the bull run so that the market can actually recover back to the point where I've bought.

But, if my goal is to just get steady and long-term profits without the fear of losing any value for my investment, I will definitely go with Gold since I know its a more stable investment and will surely give me some returns after any period of time if I wish to sell them unlike Bitcoin which has cycles.

Bitcoin had a capacity to get more change in the price.But the gold value may depreciate with respect to the year.Check the price of bitcoin today,the value of bitcoin was again start to increase.So it’s essential important one to hold lot of money in the bitcoin.One day the bitcoin will reach the maximum market and demand of bitcoin will automatically increase.The price of bitcoin is based on the market demand,when the bear market,you should fill your bags with more bitcoin.

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I'll just simplify why I'll always choose bitcoin

- Because Bitcoin doesn't know the age difference.

- I have never owned gold since I was born. But when I was 19, I had my first BTC in my wallet. You can imagine the happiness

- I can easily transfer Bitcoin. Anywhere, anytime

- I can carry Bitcoin anywhere and at the same time earn from it by either trading or participating in different Events like Kcgi, which I can earn in usdt and swap to BTC with fewer charges

- Bitcoin is decentralised, safer and efficient

And many more reason

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Quote from: spectre71 on August 20, 2023, 04:42:00 PM

Don't forget if your looking portfolio diversity you can hold preciouses metals (or a blend of) in an ETF and that negates the physical security part. But now your on radar.

If you can't have bitcoin, you could possibly own Micro Strategies giving some exposure to BTC.

Think outside the box people
I personally have a blend of this.

All in one one, you are stupid, period

You are correct in certain ways. But look at where we are now. We live in the modern era, and the time has come for Bitcoin. In comparison to gold, Bitcoin has tremendous potential and a bright future. In my opinion, there is no significant difference between investing in gold and investing in banks. Gold is a well-established kind of investment, which means there are no more exciting upcoming innovations of it, as opposed to Bitcoin, which is just getting started, how much more if it is employed by the majority of the establishments globally.

spectre71

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Don't forget if your looking portfolio diversity you can hold preciouses metals (or a blend of) in an ETF and that negates the physical security part. But now your on radar.

If you can't have bitcoin, you could possibly own Micro Strategies giving some exposure to BTC.

Think outside the box people
I personally have a blend of this.

All in one one, you are stupid, period

panganib999

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Some countries disallow the massive collection and gathering of gold over a single place/entity, and doing so may hold you accountable for crimes that would lead to jail time and repossession of your gold holdings. With bitcoin we can't expect that to happen unless said governments assume complete control of bitcoin which is nigh impossible. Another would be the convenience factor. As many have said here, it's much easier keeping a password on a sheet of paper or on a 65 gram trezor wallet than hoarding tons and tons of gold in equivalent value. Keeping it safe from thieves would really be a hard thing too.

Bitcoin is just superior in many ways over gold, but that doesn't mean that they are to be compared. Gold serves different purposes to bitcoin.

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Quote from: Crypto Vira on August 19, 2023, 10:34:17 AM

The answer to a debate that is constantly discussed on social media accounts and news outlets may open doors to different answers for everyone. So, Why Bitcoin Instead of Gold for you?

If this topic has been discussed before, I would appreciate it if you could enlighten me.

I don't choose one out of the two, and my reason for purchasing any of them would totally be dependent on my financial goals and targets. If I'm looking for quicker profits and ready to risk my money, I would go with Bitcoin, even after knowing that though I may not lose my money but it can get devalued for years if the cycle restarts since I will then have to wait for the bull run so that the market can actually recover back to the point where I've bought.

But, if my goal is to just get steady and long-term profits without the fear of losing any value for my investment, I will definitely go with Gold since I know its a more stable investment and will surely give me some returns after any period of time if I wish to sell them unlike Bitcoin which has cycles.

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I think people of modern age prefer bitcoin but older people still believe in gold because they have lots of experience with the rate of gold and they have no concern with online business. Their mind has accepted gold and it cannot be replaced by investment in Bitcoin and may be this is due to the fact that bitcoin was not present at that time and they just accept the old strategies of enhancing money rather than accepting new one.

People of modern age just wants bitcoin because the profit of bitcoin is more than gold and there is no involvement of others in controlling of its cost. Decentralization is the main cause of desires for bitcoin more than gold and also one can transfer money online through bitcoin whereas it cannot be possible in the case of gold.

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Quote from: Crypto Vira on August 19, 2023, 10:34:17 AM

The answer to a debate that is constantly discussed on social media accounts and news outlets may open doors to different answers for everyone. So, Why Bitcoin Instead of Gold for you?

If this topic has been discussed before, I would appreciate it if you could enlighten me.

Gold and Bitcoin are two types of things, gold is usually used in the body and it is very carefully kept in a locker or stored in one's cupboard. I mean if someone wants to buy gold from his cash then I would advise him first of all to invest it in Bitcoin instead of buying gold. Because if there is something through investing in bitcoin then if he can do it well then this bitcoin investment will bring a lot of success in his life. And I think he can buy gold when he earns from investing bitcoins. So my personal opinion is that choosing bitcoin over gold is much wiser.

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Bitcoin's limited supply and ease of portability are what make it stand out in this regard. Especially with countries and major companies increasing their investments in this sector, it will once again become a commodity that everyone talks about every day.

Why do I have to disclose how much gold I own? This is really absurd.

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Mostly because of the law. There is a law (at least in my country and I know others as well) that states that an individual can only have limited gold. There is a specific percentage or number wherein you have to follow if you don't want to get in trouble with the law. Also, I side with both. I invest in both because they make good profit and are good investments, only thing is I have to have limitations for gold and so the excess for that goes to Bitcoin.

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Quote from: tokyohd on August 20, 2023, 09:06:07 AM

Why Bitcoin Instead of Gold?
Because, Bitcoin has experienced significant price volatility over the years, leading to the possibility of substantial gains in a relatively short period. On the other hand, Bitcoin is limited in supply. There will only ever be 21 million Bitcoins in existence, which can create a perception of scarcity and potentially drive up its value as demand increases. Some investors are attracted to the potential for high returns that Bitcoin offers.

In short, you mean people choose bitcoin over gold because its profit potential is higher than gold. But what about the other benefits of bitcoin? For example, it is a decentralized asset and if you own it, you will have full rights to that asset, no one can take it away from you. Or can also be used in cross-border payments. There are many benefits that bitcoin is superior to gold for people to choose it, not just profit. But there's no denying that profit is the biggest reason people choose bitcoin.

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Why Bitcoin Instead of Gold?
Because, Bitcoin has experienced significant price volatility over the years, leading to the possibility of substantial gains in a relatively short period. On the other hand, Bitcoin is limited in supply. There will only ever be 21 million Bitcoins in existence, which can create a perception of scarcity and potentially drive up its value as demand increases. Some investors are attracted to the potential for high returns that Bitcoin offers.

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