Topic: Why Bitcoin must surpass gold - page 4. (Read 651 times)
People always expect the growth to be high over the other. This js the major reason why people need price comparison as well a growth in value against each other. Gold have got varied features and it is unfair to have a comparison between gold and bitcoin. The growth of the two have got a very big difference. With gold it is all about the history and the rare availability. With bitcoin it is all about the demand to the supply. Both were masters in their own, nothing needs to be overcome.
There are two reasons. First, Bitcoin is a non-credit currency ten times stronger than gold. So unless Bitcoin is replaced. Otherwise he must surpass gold. Second, Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin. Combine these two points and Bitcoin is bound to surpass gold
Just like going to the White House to tell Bidden that because he is the president of America, it therefore means he is the best president all over the world. People in the White house should be able to ask you your reasons of saying so. Although some will not ask because you are glorifying their boss. How about if they ask, you will reply because Bidden is a non-credit president.
Gold is not a currency, while bitcoin is a currency and was designed to be a currency. Although we have seen investment in bitcoin, but it shouldn't make bitcoin comparable to Gold.
These are actually valid arguments. Bitcoin is man-made and like anything that was made by men, it may or may not fail. I know it is ultimately based on math but look at the latest Ordinals/NFT stuff happened... the network was already crowded enough and NFT's made it even worse. What makes you think that the next update won't break bitcoin for good? We can't know that. No matter how many hours you test the software before the launch, there is still a chance that you will find a bug later on...
Every new update makes bitcoin more complicated and more prone to the new attack vectors. Segwit was cool but now the btc network is starting to look like a total mess.
Gold on the other hand has been running the same software (which is physics) since day 0. Never had an update because it never needed any. I think that's a big achievement over crypto.
If God had made Bitcoin, he would have made it so perfect that it wouldn't need any updates in the future...
Every new update makes bitcoin more complicated and more prone to the new attack vectors. Segwit was cool but now the btc network is starting to look like a total mess.
Gold on the other hand has been running the same software (which is physics) since day 0. Never had an update because it never needed any. I think that's a big achievement over crypto.
If God had made Bitcoin, he would have made it so perfect that it wouldn't need any updates in the future...
This is one of the concerns, but I'd say it's one of the lesser concerns. Because even perfect code with no flaws would still have fundamental problems and tradeoffs like scalability or the limiations of the Internet. Paper money didn't fully replace gold or make it less valuable, gold just went from being a currency to store of value. Simiarly, Bitcoin will not replace gold fully, it will just be used as an alternative store of value.
There are two reasons. First, Bitcoin is a non-credit currency ten times stronger than gold. So unless Bitcoin is replaced. Otherwise he must surpass gold. Second, Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin. Combine these two points and Bitcoin is bound to surpass gold
Such a small piece of writing and yet, some many over view statements. Certainly one that comes with huge assumptions.You might have said these knowing that this is a Bitcoin community and we would certainly wish or want Bitcoin to be of more value than gold can ever be but first, we've got to understand all that is said there.
Talking about ten times stronger and also non-credit ideas... what does all that mean?
The only reason I can think of that makes Bitcoin more unique than other commodities out there is that, bitcoin is a more scares commodity than gold can ever be. More gold keeps been discovered as time goes on.
Also, Bitcoin is decentralized and the events that happens with bitcoin remains with the people.
There are two reasons. First, Bitcoin is a non-credit currency ten times stronger than gold. So unless Bitcoin is replaced. Otherwise he must surpass gold. Second, Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin. Combine these two points and Bitcoin is bound to surpass gold
we don't need to compare the two. Bitcoin and Gold will be a win-win investment. and neither need to be classified as a superior asset.
if you look at the direction of your statement, it seems you are more towards both as an asset. whereas Bitcoin is oriented to be more of a currency.
gold is more stable than Bitcoin. but Bitcoin has a more volatile value for investors or Bitcoin users to use to get better profits than Gold.
I don't prefer comparing Bitcoin to gold as they are fundamentally different. While gold is a tangible commodity that exists in the physical world, Bitcoin is a digital currency that exists virtually. Currency, including Bitcoin, holds a stronger position than gold because it is necessary to acquire goods. In essence, currency is inherently stronger than gold. Furthermore, Bitcoin possesses even greater strength in this regard. The price of gold tends to rise because people view it as a store of value. On the other hand, Bitcoin's value increases primarily through investor trading and profit-making activities.
Bitcoin's value is greater but gold is also a successful way to make money secure. I don't think that bitcoin will surpass gold because gold is not volatile as much as that of gold. If a person holds bitcoin as well as gold so he will be in more stress because of the bitcoin investment due to higher risk but he will not be in much stress with gold investment due to its non volatile nature. Both are beneficial and both showed higher success rate by giving profit to holders but gold will consider more safe as compared to the bitcoin.
Bitcoin is built differently, and it does not have to be comparable with gold. Some people do love the analogy of Bitcoin as gold, but personally, it is inherently different and I tend to refrain from matching these two. Also, bitcoin does not have to surpass gold completely, since there is no competition.
To follow your point, golds are hardly a currency. Besides, gold was already here for ages, it is extremely minuscule compared to Bitcoin's existence. I don't think we have to discredit gold to popularize Bitcoin. And bitcoin continuity does not rely upon whether it will beat gold or not.
To follow your point, golds are hardly a currency. Besides, gold was already here for ages, it is extremely minuscule compared to Bitcoin's existence. I don't think we have to discredit gold to popularize Bitcoin. And bitcoin continuity does not rely upon whether it will beat gold or not.
The value of gold will always remain and tend to increase over time, and gold has been used as a means of transaction and investment since ancient times. If we analogize it, in the past, 300 pieces of gold could buy a nice house, and it remains the same today. However, it is different from Bitcoin, which is considered a relatively new form of currency compared to gold. The difference between the two is that gold can be seen and physically owned in the real world, while Bitcoin is purely a digital asset. Therefore, it would be unfair to choose between the two since they are fundamentally different. However, the value of Bitcoin has now surpassed that of gold, showcasing the remarkable nature of this cryptocurrency.
I agree with gold is better than Bitcoin since Bitcoin depends on the software and the internet compared to gold which it doesn't need what Bitcoin needed. Bitcoin is different but it does have its uses therefore Bitcoin is good in its own ways and uses. You shouldn't compare both like that as what I have said both have its purpose and that's it. I am not sure why you want to compare both and if you ask me, your question is the same as which is better cash or digital cash.
There are two reasons. First, Bitcoin is a non-credit currency ten times stronger than gold. So unless Bitcoin is replaced. Otherwise he must surpass gold. Second, Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin. Combine these two points and Bitcoin is bound to surpass gold
Gold is gold, Bitcoin is Bitcoin. End of argument. Because they are not the same. They are the best in their respective places. What is your preference, that is up to you. Which one do you like? If Bitcoin is the safest option for you, you will choose that. For gold, vice versa.
Bitcoin is a technology and not so new today. It has been with us for over a decade. So in people's minds, it has created a place where we can assume it to be safe. If you imply the same thing to gold, it was discovered in 2450 BC. How long has that been? Now imagine its popularity.
The comparison is pointless in some situations. If you feel confident about one then choose that and avoid the other. Or to get the best result. Why not have both? What's stopping you?
Bitcoin is built differently, and it does not have to be comparable with gold. Some people do love the analogy of Bitcoin as gold, but personally, it is inherently different and I tend to refrain from matching these two. Also, bitcoin does not have to surpass gold completely, since there is no competition.
To follow your point, golds are hardly a currency. Besides, gold was already here for ages, it is extremely minuscule compared to Bitcoin's existence. I don't think we have to discredit gold to popularize Bitcoin. And bitcoin continuity does not rely upon whether it will beat gold or not.
To follow your point, golds are hardly a currency. Besides, gold was already here for ages, it is extremely minuscule compared to Bitcoin's existence. I don't think we have to discredit gold to popularize Bitcoin. And bitcoin continuity does not rely upon whether it will beat gold or not.
It doesn't matter whether bitcoin surpasses gold or not, but these two investment assets have their advantages and disadvantages. I don't think bitcoin should overtake gold, but of course the two investment assets are always being compared. I like both and I own both, simply because these two assets can give me worth it returns. Gold to me is much more than an investment, so I will still own it regardless of the price.
I also do that sir, I have gold and I also have Bitcoin, I own these two investment assets because of the ROI that I get from both of them.But indeed, when compared in terms of price and efficiency, Bitcoin dominates and surpasses gold, but in terms of value effectiveness and consistency of value and or the stability of the value of gold, it has that, and the main point is that there is no place that rejects gold and everyone thinks that gold is valuable, maybe this happened because gold was known to humans first compared to bitcoin, which made gold accepted and recognized by all groups.
Considered 10 times better than gold, maybe because it is assessed from the price, not the core elements in both.
It doesn't matter whether bitcoin surpasses gold or not, but these two investment assets have their advantages and disadvantages. I don't think bitcoin should overtake gold, but of course the two investment assets are always being compared. I like both and I own both, simply because these two assets can give me worth it returns. Gold to me is much more than an investment, so I will still own it regardless of the price.
Gold price rises through a limited tendency. For example gold will not give you double profit in very short time. But Bitcoin is one thing that can give you double profit in very short time.But both have advantages as well as disadvantages in different aspects. Just like bitcoin will give you good profit as well as risk, but gold will give you small profit and no risk.If someone wants to get rich in short time then bitcoin is for him, but by investing in gold you cannot get rich in short time and bitcoin is very convenient fast and cheap transaction for online transactions.
You're saying Bitcoin is a currency while comparing it to gold, but gold isn't a currency in contemporary world, not really. Also, the 'ten times stronger' part seems arbitrary. What is it based on? The price per something, marker capitalization, growth...? None seem to fit.
Furthermore, what do you mean when you say 'non-credit', again while comparing it to gold? Is gold somehow credit(loan?)-based?
Finally, surpass gold in which regard? The number of people who have any amount of it? The number of people who consider it as investment? Total value?
Furthermore, what do you mean when you say 'non-credit', again while comparing it to gold? Is gold somehow credit(loan?)-based?
Finally, surpass gold in which regard? The number of people who have any amount of it? The number of people who consider it as investment? Total value?
I know you are not ready to hear this but Gold is way better than Bitcoin, the advantages of Gold is higher and I don't see much disadvantages unlike Bitcoin.
1. Gold is welcome by everything and everyone, no centralized shit or fight over control.
2. Gold works without grid power and the internet, but not Bitcoin.
Gold is different from Bitcoin and they shouldn't be compared, Bitcoin is digital currency for the internet users but Gold is not.
1. Gold is welcome by everything and everyone, no centralized shit or fight over control.
2. Gold works without grid power and the internet, but not Bitcoin.
Gold is different from Bitcoin and they shouldn't be compared, Bitcoin is digital currency for the internet users but Gold is not.
The two asset mentioned represent different phenomenon for different class of people. Gold is better preferred by the aged and the affluent class and so for them they will analyze gold to be more valuable, it represents royalty, it represents riches, they can have it to decorate all that pertains to them.
The other class is the mass population of people that feels they are the new generation that want to get away from the government, like to be liberated financially without been monitored or manipulated. The youths and the internet savvy, they prefer bitcoin because they can access bitcoin with just a little amount of money and with prospect to hodl and grow it. Therefore, it is of variance on what attributes ascribed to both. The old find it difficult with the internet while the youth value the internet as the new age where they can access every aspect of life including digital currency trading from their homes.
The other class is the mass population of people that feels they are the new generation that want to get away from the government, like to be liberated financially without been monitored or manipulated. The youths and the internet savvy, they prefer bitcoin because they can access bitcoin with just a little amount of money and with prospect to hodl and grow it. Therefore, it is of variance on what attributes ascribed to both. The old find it difficult with the internet while the youth value the internet as the new age where they can access every aspect of life including digital currency trading from their homes.
I never liked comparing bitcoin with anything else including gold. They are just two completely different categories like comparing apples and oranges. For starters bitcoin is a currency (potentially money) but gold is not, it is purely an asset and a physical one at that. And most importantly 13-14 year old bitcoin is an infant compared to gold that has been around for ages. At least another decade has to pass before bitcoin is reaching a considerable amount of adoption to be a gold level "asset".
There are two reasons. First, Bitcoin is a non-credit currency ten times stronger than gold. So unless Bitcoin is replaced. Otherwise he must surpass gold. Second, Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin. Combine these two points and Bitcoin is bound to surpass gold
That's right...not to mention its use-case. Gold thrives on its scarcity, limited supply and certain physical properties that supersede other metals, and it will also thrive at the time that worthless paper money meets its propelled demise. Draw-backs include storage, transfer of ownership, and availability to purchase/sell. Bitcoin solves what gold lacks in, so I agree with you strongly that Bitcoin will surpass the market cap of gold.
I've said before in another thread, one day the main pair of bitcoin will be against the value of gold, instead of the value of the dollar or other fiat currencies. Alongside the pair of UM (Universal Money) which will probably supersede all fiat (at least in the west) and BRICS (if this actually comes to fruition) over the next 2 - 5 years.
Interesting times!
Other than distribution methods, like jewelry, which provides more volume/trade for gold or maybe some demand, do you have any other use-case or economic benefit in mind for gold that Bitcoin doesn't?
I have a question? If bitcoin is really better than gold in every way, then why hasn't bitcoin been able to surpass gold so far? Most countries already know about bitcoin, but why, in this time of crisis, is gold still the most sought after asset to add to countries' budgets but not bitcoin?
Just looking at what's going on, it's easy to see that gold is still considered the most valuable and sought-after asset. Although in comparison, we must admit that bitcoin is superior to gold in some, but not all, bitcoin is not perfect in all respects.
There are two reasons. First, Bitcoin is a non-credit currency ten times stronger than gold. So unless Bitcoin is replaced. Otherwise he must surpass gold. Second, Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin. Combine these two points and Bitcoin is bound to surpass gold
That's right...not to mention its use-case. Gold thrives on its scarcity, limited supply and certain physical properties that supersede other metals, and it will also thrive at the time that worthless paper money meets its propelled demise. Draw-backs include storage, transfer of ownership, and availability to purchase/sell. Bitcoin solves what gold lacks in, so I agree with you strongly that Bitcoin will surpass the market cap of gold.
I've said before in another thread, one day the main pair of bitcoin will be against the value of gold, instead of the value of the dollar or other fiat currencies. Alongside the pair of UM (Universal Money) which will probably supersede all fiat (at least in the west) and BRICS (if this actually comes to fruition) over the next 2 - 5 years.
Interesting times!
Other than distribution methods, like jewelry, which provides more volume/trade for gold or maybe some demand, do you have any other use-case or economic benefit in mind for gold that Bitcoin doesn't?
I have a question? If bitcoin is really better than gold in every way, then why hasn't bitcoin been able to surpass gold so far? Most countries already know about bitcoin, but why, in this time of crisis, is gold still the most sought after asset to add to countries' budgets but not bitcoin?
Just looking at what's going on, it's easy to see that gold is still considered the most valuable and sought-after asset. Although in comparison, we must admit that bitcoin is superior to gold in some, but not all, bitcoin is not perfect in all respects.
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