Why Bitcoin Instead of Gold? - page 6.

xSkylarx

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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.

If you can hold both, the better. There is no need for debating, but one of the reasons why people choose Bitcoin instead of gold is that they know. I mean, you are truly anonymous, and you can bring it anywhere you go, unlike having gold bars that you can't bring because they are too heavy. Also, one of the reasons is that the volatility of Bitcoin is unlike gold, which had a stable upward price, whereas Bitcoin will jump high as fast as overnight and also go down abruptly, which is what risk-taking people really want.

Ale88

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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.

Bitcoin is extremely more scarse than gold, it's also way easier to store since you just need to remember your seed, and it's also way more difficult to seize. Those are just some basic facts, I can also say that bitcoin can actually be used to pay for services and products while with gold it would be way more complicate. These are just the first things that came to mind, for sure there are more.

Iranus

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Quote from: n0ne on August 19, 2023, 07:52:55 PM

Quote from: serjent05 on August 19, 2023, 07:28:41 PM

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.

For me, I chose Bitcoin because of its portability. It can be easily transferred and does not need a third-party institution for Bitcoin transactions. Even though gold has been circulating for too long, the age of technology isn't stuck with ancient technology. So as technology changes, there is a compatible technology that will make access, transaction, buying, and selling more convenient for traders and investors.

Very few prefer bitcoin for the mentioned reason. Majority of us were upon the profitability. Just think of the growth bitcoin have achieved through the years. In reality most of the users who were part of bitcoin doesn't know the technology or the goodness behind it, just focusing on the profit they have made their entry into bitcoin. Even now the people who had made good profit out of gold investment never switch to bitcoin or something else considering the risks.

You have a point there. When talking or in discussions between gold and bitcoin, people will always compare their features and say that they will choose bitcoin because of its superior features. But in the end, they choose bitcoin because of the profit it brings, very few people will select bitcoin because of its features. If bitcoin suddenly becomes as stable as gold, I bet they will turn around saying good things about gold and start looking for the downsides of bitcoin. That's what's happening, but very few people want to discuss it. I also chose bitcoin over gold and my reason is that bitcoin returns better than gold, no second reason.

Dave1

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Quote from: Franctoshi on August 19, 2023, 07:57:44 PM

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.

Bitcoin's total supply is known, but you don't know the amount of Gold that would ever exist or be mined. It cost a lot of money to transport gold from one place to another (country to country), Bitcoin serves as a medium of exchange (buying and selling ). Bitcoin is divisible into fractions, meaning you can own any amount of Bitcoin. Gold is controlled by the government (central authority ), Bitcoin is decentralized.

As far as supply though, if I'm not mistaken, bitcoin has surpassed gold already in terms of supply and it becoming more scarce. And then bitcoin used by government as reserved could be one positive for gold.

However, we can also used bitcoin as store of value, it is just volatile, but in terms of price, you can make money out of it, more profits as compare to gold.

And then bitcoin is borderless, you can go and travel with just your bitcoin around the world and no body will know 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.

We know that gold is an ancient resource and has been very popular among the world for years and the price of gold is always at a high level. We have seen that some countries use their natural resources to meet their economic deficit and this gold is a natural resource. Gold is an asset that people invest in and get good profits from it Gold prices go up and down again Gold is used by everyone in the world. But nowadays people are developing virtual currencies more and they are interested in investing in this virtual currency Bitcoin rather than planning to invest in natural resources. If we look closely at the future and past history of this Bitcoin, we will see that at one time the value of Bitcoin exceeded the value of gold. And seeing this position Bitcoin is trusted by everyone and everyone chooses Bitcoin for investment, the future of Bitcoin is bright due to which people invest more in Bitcoin than gold. Although currently the price of gold is higher than the price of bitcoin, we can expect that in the future the price of bitcoin will surpass the price of gold and bitcoin will once again reach its all-time high.

Franctoshi

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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.

Bitcoin's total supply is known, but you don't know the amount of Gold that would ever exist or be mined. It cost a lot of money to transport gold from one place to another (country to country), Bitcoin serves as a medium of exchange (buying and selling ). Bitcoin is divisible into fractions, meaning you can own any amount of Bitcoin. Gold is controlled by the government (central authority ), Bitcoin is decentralized.

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Quote from: serjent05 on August 19, 2023, 07:28:41 PM

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.

For me, I chose Bitcoin because of its portability. It can be easily transferred and does not need a third-party institution for Bitcoin transactions. Even though gold has been circulating for too long, the age of technology isn't stuck with ancient technology. So as technology changes, there is a compatible technology that will make access, transaction, buying, and selling more convenient for traders and investors.

Very few prefer bitcoin for the mentioned reason. Majority of us were upon the profitability. Just think of the growth bitcoin have achieved through the years. In reality most of the users who were part of bitcoin doesn't know the technology or the goodness behind it, just focusing on the profit they have made their entry into bitcoin. Even now the people who had made good profit out of gold investment never switch to bitcoin or something else considering the risks.

Emmanuelex

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I think the reason why I chose Bitcoin is because it's easily accessible to me. The process in creating a Bitcoin wallet and funding it is very easy, there isn't much protocols involved in it. And another reason would be that I'm a tech enthusiast, I'm always into new stuffs that seem to be very interesting. I discovered Bitcoin myself, and since then I would say that it has been one of the best things I did for myself so far.

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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.

For me, I chose Bitcoin because of its portability. It can be easily transferred and does not need a third-party institution for Bitcoin transactions. Even though gold has been circulating for too long, the age of technology isn't stuck with ancient technology. So as technology changes, there is a compatible technology that will make access, transaction, buying, and selling more convenient for traders and investors.

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Quote from: Artemis3 on August 19, 2023, 10:41:12 AM

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This can happen again. Much easier to hide 12 words than ingots, and you can easily cross borders to escape hostile countries without declaring anything, the State doesn't need to ever know.

Exactly. With gold you have to hide it and hope that nobody finds out and confiscates or steals it from you. And even if everything goes to plan, there are still other risks, like losing your gold. A physical and thus centralized store of value spells nothing but trouble. And for those people who claim gold price is more stable than BTC: what happens when a country discovers gigantic gold deposits? What happens when gold dependant tech is replaced by another new material?

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

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

Like you rightly put it, this topic has been discussed numerous times here on the forum unfortunately

Bitcoin VS. GOLD >>https://bitcointalksearch.org/topic/bitcoin-vs-gold-2272001

BTC or Gold Investment? >>>https://bitcointalksearch.org/topic/btc-or-gold-investment-5407203

So Bitcoin is better than Gold? >>>https://bitcointalksearch.org/topic/so-bitcoin-is-better-than-gold-1923060

Bitcoin or Gold? What would you pick? >>>https://bitcointalksearch.org/topic/bitcoin-or-gold-what-would-you-pick-585828

And the list goes on...

spectre71

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Check this out

Over the years I have posted all kinds of thing for sale in the Bay Area for bitcoin. Not one sale. Change to dollars it's gone.

I challenge anyone to buy a used mower or anything off a neighbor, somebody you don't know already. I challenge you to buy groceries or a tank of gas directly with bitcoin... I can with gold or silver.

Comparing investments a to b is dumb. Your portfolio should be a symbiotic blend...

Go check out Ray Dalio and then his all weather fund.

Y'all gonna loose your ass's with a one legged investment scheme. There isn't one example of it in the wild

lousie9

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

So, Why Bitcoin Instead of Gold for you?

If you want to compare maybe I don't think we need to compare because it's better of course to choose to have both than just one between Bitcoin and Gold, right? It seems to me that Gold and Bitcoin both have a hedge against economic issues like inflation.
But if we talk about Bitcoin better than Gold, I think it's because we know that Bitcoin is easier and more flexible because it's easy to move, easy to store, hard to counterfeit, transaction fees tend to be low and we don't need a third party or government intervention for our ownership status.
Even though the volatility of Gold tends to be stable than Bitcoin and Gold has an unquestionable reputation because it has been proven and tested for several centuries but in my opinion Bitcoin offers more ease of access than Gold.

DeathAngel

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Bitcoin is 100% a better investment than gold for many reasons. Bitcoin offers greater potential for growth as its decentralised nature and limited supply create scarcity and increased demand. Bitcoin's portability and ease of transfer make it more accessible and convenient compared to physical gold. Bitcoin's transparency and traceability provide a higher level of security and trust for investors. The rapid evolution of digital technologies and increasing adoption of cryptocurrencies suggest a promising future for Bitcoin as a global digital asset. In my opinion Bitcoin is a far superior investment option.

ajiz138

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We want to invest with big and fast returns, right? Bitcoin! in over a decade can grow significantly because the limited supply makes them believe in Bitcoin rather than gold even though it has a stable value.

Gold prices tend to stabilize very small increases every year, gold mining will continue to produce gold bars, gold has been trusted for centuries people must have more confidence in gold to maintain value than other assets.

Those of us who tend to be in bitcoin will choose this coin, there is no physical but useful in any case including from sending to various countries with ease and privacy.

spectre71

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Bitcoin or Gold ( or silver) argument comparison is STUPID. My apple is better than your oranges!

The correct answer is a balance of both among other things including cash in your portfolio.

All hell breaks loose and you need some gas. I can trade a few silver coins (or cash) for some gas. But I can't even buy gas now with bitcoin. Banking collapse what off ramp are you going to use to get to fiat?

Completely different instruments for different things. F'n noobs

SatoPrincess

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The fact that bitcoin has a limited supply and that it is impossible to create more bitcoins makes it a better investment than gold. Looking at the data of Bitcoin price vs gold in the last decade, it shows that Bitcoin growth is so rapid and has done so much better than gold. The older folks may be more interested in gold because it has been around for thousands of years and is physical, the younger generation understand that digital assets are just as valuable as physical assets. Bitcoin and gold are similar in some ways, both are volatile assets and also good options to hedge against inflation.

tjtonmoy

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I mean, why not BOTH? Why do we always have to compare things when they both have their own perks? One is different from another but they do the same thing. You can store value in both things. You can use them as investment assets too. One is virtual and one is physical. Based on your preference, you can choose either one. But while you have the choice to choose both, why choose only one?

For me, Gold is less risky for investment if you compare it to Bitcoin's volatile market. But that doesn't make Bitcoin bad or anything. There's a question about Gold's security because it is a physical asset. This is not only with Gold. Security issues are also a thing with Bitcoin. The way you keep your assets will determine if it is in a safe situation on not.

Keeping those aside, maybe one is better than the other. But as long as both are giving you profits, why not use both?

mindrust

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You know you can always buy both. It doesn’t have to be one or the other. Gold needs physical space unless you hold them in a bank which kills the purpose of owning gold. Bitcoin takes no space. You can even memorize your seed words suddenly your brain hold unlimited wealth. That’s the biggest advantage of bitcoin over gold.

However gold has an advantage too. It is the history. Gold has an history of multiple millenniums. It was a valuable thing even before the Christ and that’s a very important feature which bitcoin lacks.

So, I think we should definitely own both.

crwth

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Personally, what I like to know is that Bitcoin is scarce and it's definitely an asset that you can profit with just holding because of the prices. The things that I like with BTC are the following.

Having knowledge about its limits (21M BTC)
It can be traded easily

I think it's pretty basic what to pick if you understand the benefits of it and why it's one of the best things that you can have.

Topic: Why Bitcoin Instead of Gold? - page 6. (Read 889 times)