Why Bitcoin Instead of Gold? - page 7.

Bananington

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

So, Why Bitcoin Instead of Gold for you?

My Reasons are;

Bitcoin is the future.
Bitcoin has the same feature that makes gold valuable, which is that it is limited in supply, but it does not share some of the disadvantages of gold which is how difficult it is to keep completely safe on your own.
With Bitcoins, I can maintain and keep control of my investments.

Those are some of my reasons, Other people will have more, but those reasons are what makes me more focused on getting bitcoins.

so98nn

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Honestly, I never found myself in a position where I am attracted to the Gold and thought about accumulating it in a private safe so that one day I can sell it for profit. It is such a hard process to follow if I am going to imagine it. I mean first I will have to maintain proper documentation of the Gold that I am holding in my house OR locker.

It means I am already exposing my privacy about my monetary holdings. Secondly, I would be always concerned about the safety of my Gold since it's just one wall away from getting robbed when I am dead drunk and sleeping in my bed with no consciousness. Imagine what would be my mental health when I am traveling somewhere far and there is always a thought that is bugging me, I am having Gold bars at my house or in my bank and I have no idea if it is safe or not. Apart from this, I will always have to follow the rules whenever I am going to sell the gold and get my money back. The challenges are unreal here.

It's better to checkout Bitcoin, easy buy easy sell, paperless, timefree!

Faisal2202

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This topic do discussed here so many times but still we should continie your query here instead of mentioned old links. The point is, some prefer Gold while some prefer BTC. Reasons of this difference are here:

. BTC has limited supply while Gold has not limited supply.
. If we have some funds in BTC we can take it anywhere in the world without giving clarification to some authorities but if we are traveling with Gold we have to answer the queries of authorities .
. Gold provide risk of fakeness while there is nothing like fakeness in the BTC. If you are buying BTC then it would be the real one but if you are buying gold then the chances are high that you might be scammed if you are newbie in buying gold and second they could sell you the gold with less karat rate while more karat rate has more value.

The point is, we have more features like security, best outcomes, reliability, and longevity on BTC instead in Gold. So, if I can buy Gold but I prefer not to because of aforementioned points.

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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 has a higher market price volatility thus it can generate bigger profit. But question is, would such asset suit you as an investor? Not because something is profitble, you'd engage into it already. There are consequences on every choice we would make. Choosing eitherway would be a good move as long as you know the risks involved. You may also choose both of it as an asset to be held for a long period of time. But if you have your own preference with an asset's characteristics, then for sure you'd be draggged to one. It is either high profit high risk or low risk but consistent profit over years. This is something we all know for a long period of time.

Silberman

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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.

Too many reasons, gold can be counterfeited while bitcoin cannot, gold can be easily confiscated by the government while bitcoin can be hidden way more easily as you only need to hide a piece of paper, bitcoin can be moved all over the world with ease while gold cannot, there are many historical precedents of governments confiscating gold and this will happen again, bitcoin is decentralized while gold is not, bitcoin can be used online to purchase whatever you what around the world while gold cannot, and those are just the reasons that came to my mind and surely there are even more that I do not remember right now.

lizarder

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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.

Let's turn the question around, why don't we use both at the same time? Don't gold and bitcoin both have the power to maintain value. Of course, many people have different views on this matter, but if people who have known bitcoin for a long time, the answer may be almost the same and why people prefer bitcoin because they are able to maintain the value of the investment they place. Speaking of accuracy, some people who like risk will definitely choose bitcoin, but when faced with people who don't want to be involved in risk they will choose gold.

Gold is slow in terms of returns and tends to be stable in price, whereas bitcoin with its volatility can make quick returns on investment. Another strength of bitcoin is that it has a four-year cycle, where almost many people know that every time it happens, bitcoin will make a new price jump or what is called ATH.

Z-tight

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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.

Yeah it has been discussed, a lot of times.

There is nothing wrong in choosing one over the other, it is up to the person who's buying, both gold and BTC have their pros and cons and choosing one over the other depends on what you want. If you want an asset that is less volatile and is a store of value, gold is the better option, if you want a censorship resistant and permissionless currency that is also volatile and can generate more revenue for you, BTC should be your choice.

Buying the two assets is also great, they are not intrinsic to each other, so it is a good form of diversification for persons who want to diversify their funds, if you are unsure of which one to buy, diversifying into the both of them is the most reasonable choice in my honest opinion.

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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.

1. Bitcoin's value increases at a faster rate than any other asset. Gold is a precious metal but the price of gold also does not rise as fast as Bitcoin.

1. On the other hand if you have lots of gold then you have to go through a lot of trouble to sell them. But if you have a lot of bitcoins you can exchange them very quickly and instantly.

3. You will definitely need a license to hold lots of gold, but you won't need any license to hold billions of dollars with Bitcoin.

4. Bitcoin is a digital asset that is very useful for this digital world of ours and its future is very bright

5. Gold is a physical and hard asset which is very difficult to store safely but Bitcoin is very easy to store only through a secure wallet.

There are many important points for which it is very important to be interested in bitcoin instead of gold

pooya87

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Quote from: Agbe on August 19, 2023, 11:36:51 AM

Quote from: pooya87 on August 19, 2023, 11:28:12 AM

A lot of the jewelry that women wear is made of gold, so you may have seen them but haven't paid attention.

That is what I said, I have seen the material things use by gold but I have not seen the raw material of Gold. And in that case I can't just choose Gold like that. And gold is not easy to assess like bitcoin that one can use $1 to have it through p2p. The way the businessmen make gold to be over high that the poor man can not have access to it raw material is very bad. Though the process of acquiring it from the ground is hard. But bitcoin mining is also hard yet bitcoin is free for everyone to have and use.

Ah, you are concerned about the purity of what they sell as "gold".
In that case you may find some "official" options that should exist in every country. For example the Central Bank here issues gold coins of different weights and other stuff like that which are guaranteed to have the purity that it states and they are pretty standard in terms of price and exchangeability.

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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.

Maybe you can find this threads helpful and you can get your answers there,

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Quote from: Crypto Vira

Why Bitcoin Instead of Gold for you?

Because BTC is profitable than gold, that is the reason why Many people prefer to invest in BTC instead of gold. I think you witnessed what happened during the pandemic that took over some months to reduced many countries economy and also made gold price to reduced through out the period but BTC price was pumping through out the pandemic that made many people to believed that BTC is more reliable than gold. If you have not try BTC investment, I will encourage you to take a good step in this period to buy BTC and hold for long so that you will see the reality of BTC by yourself, and you will make a good choice of BTC instead 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?

Gold is very hard to store safely and hard to move if you have bunch of holding since we are talking about physical weight here to determine hold value. Owning millions of dollars worth of Bitcoin here will require you a vault to safely stored it while Bitcoin only need below 100$ hardware wallet to store it safely.

Other main advantage of Bitcoin to Gold is you can liquidate it quicker without going outside your house and the price of Bitcoin outperforms gold even with just more than a decade of existence.

CageMabok

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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?

Because Bitcoin is more different from Gold and in terms of profit potential, Bitcoin can be profitable faster on a larger scale than Gold, which tends to have little profit. Bitcoin is chosen by many people who know it well enough for the reason that it is in very limited supply so there is an expectation of having a greater potential for a price increase when there are lots of people who own it and hold it for a long time.

While Gold is not like that because Gold is still very much in this world even though those who have it are also not small. But when the gold content is still in the ground and can still be mined by residents in every country, then the price of gold will not increase as sharply as ever happened to Bitcoin. So it's certainly very different and I think you've also picked up on that with some insight from other writers on the internet.

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Bitcoin is primarily valuable because it has a limited supply. What can be said of such a comparison with gold? We do not know how limited the resources of gold are; it is mined annually, but it is difficult to say how much of it is still there.
Along with a limited supply, bitcoin is valuable for its ease of transfer. Again, is it possible to transfer gold from one end of the earth to another so quickly? Without even delving into other considerations, based on these two advantages, Bitcoin is superior to gold, and it is quite true that Bitcoin is called digital gold.

$crypto$

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What some people agree on is that this is part of the revolution for a more modern year and bitcoin is more practical than gold.

Maybe some people think gold is a safe asset but there is a physical form that is difficult to carry anywhere, not easy to use unless it is only a long-term asset storage.

Bitcoin is more practical can send anywhere with P2P features you can be more private the increase can be faster in 5 years and above, many people realize bitcoin is better than gold even though bitcoin has volatility.

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in the way of storage. Which is easier to store, jewelry, rings, chains or gold bars or a laptop with a password?
Secondly, gold can save your money but not increase (maybe a little), unlike bitcoin, which can give huge profits

Hyphen(-)

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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?

Some people prepare both but I personally prefer Bitcoin instead of gold because of the following reasons.

1. Reality: People do sell fake gold while it can not be possible to sell a fake bitcoin because there is nothing like a fake Bitcoin.

2. Decentralization: Bitcoin is decentralized and cannot be controlled by single entity like government and others, and the price cannot also be controlled, unlike Gold that government is under its control.

3. Accessibility: Bitcoin can be easily accessible anywhere you are with just your private key, while it is not the same as Gold.

Furthermore, unlike gold, if you have Bitcoin and travel without concern, if you have it with you, you must be extremely cautious because it can be stolen if people see you 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?

I can only transport 1 kg of gold and I have to pay taxes to transport it to every destination while I can carry a million dollars worth of Bitcoin without the custom knowing that I am carrying it, people are attracted to showing off their gold while on Bitcoin you have to keep the seed phrase to a place no one except you can discover.
Easy to move, deflationary and you can use it everywhere, on gold you have to convert it and you have to always declare it.

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Bitcoin because with BTC all a person need is just the seed or the private key to carry his entire money and BTC is the safest and the most valuable crypto.
Although Gold is also valuable and trade Gold, we can only have digital gold which literally just has no value unless we get physical gold. However, the person holding bags of bars will have problems carrying them without getting attention. It's still easier to have BTC, it's all back together.

The majority of the users here will prefer BTC of course since they have been in crypto for years.

Tony116

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There are many reasons why today's young generation chooses bitcoin over gold, but one of the things people care about the most is bitcoin's profitability outperforming gold, and I am one of them. I'm sure people will tell you that they choose bitcoin because bitcoin's proprietary decentralization gives them privacy, financial freedom, and avoidance of government control...lots of benefits that gold can never bring us. But all those features will never be attractive enough if bitcoin is not profitable. So to answer your question, why do I choose bitcoin over gold? It is for profit.

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