Why Bitcoin will always remain the best choice - page 6.

boris singer

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Quote from: boyptc on September 04, 2022, 05:09:44 PM

While the gold and fiat defenders, they'll reason out that bitcoin is intangible. Tongue

Scarcity for bitcoin is a great thing and that's why the majority of us understands that in the near future, this asset is going to be of a great value that the others haven't seen yet.

It's easy to carry and to store and you can just simply walk on the side walk being an investor and holder of it without being showy.

People who do have a broader view will obviously be in bitcoin in terms of investment and gold is the second thing that can be an option.
But as long as we live by clear rules we won't be able to forget Fiat in this regard.
I personally am in bitcoin when making long term investments, but when in everyday life fiat is a solution so there is no need to attack each other to bring each other down actually because it really comes back to their respective choices but when people with greed clearly don't want to see something higher than what they think is right.

Mauser

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I agree with your chart, bitcoin offers a lot of advantages over gold and fiat money. Without a trust worthy government standing behind the fiat currencies they become worthless, and even than can it happen that a crisis will ruin the currency of a country. Politicians have too much power on the monetary policy of a country. For example, years of saving money can disappear in a few month if the government decides to print more money. The best solution for us is to diversify and invest in other assets outside of the governments reach, like crypto currencies. And Gold doesn't fit into today's world anymore, everything is about digital movement and removing of borders. Having tangible assets like gold that are hard to store don't fit into that anymore.

_BlackStar

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Quote from: Cryptmuster on September 05, 2022, 01:48:33 AM

I don’t know if it’s right to call bitcoin the best investment compared to gold, many are ready to argue with you about this.

You can assume that bitcoin is not the best when compared to gold, but please consider these 4 points:
Unlike gold, bitcoins are:

Easy to transfer
Easy to secure
Easy to verify
Easy to granulate

Limited supply is one of the advantages of bitcoin over gold, but I agree that these two assets are not competing to be the best but they are assets that can be considered as an investment instrument and a store of value. People use bitcoin as a means of payment, investment, or trading asset, but don't expect everyone to agree with bitcoin while they agree with gold.

KingsDen

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I have some observations;

The picture in Op said that fiat is not durable. I don't know the concept of durability in Op, but one of the major characteristics of money is durability and fiat is quite durable. Whether in paper form or in coin form and recently in CBDC form, all are durable.

Also in established history. Fiat has history lane which is attached to the country's culture and history. Many part of country's history can be told by looking at their fiat currency. I can also say that fist has established history also.

Apart from my two observations, I will say that the compilation is cool and explicit

xSkylarx

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Quote from: Bitstar_coin on September 04, 2022, 05:08:24 AM

-snip

Many people will still prefer a tangible asset as a store of value because of bitcoin's disadvantage of being irrecoverable once lost. Since it's decentralized, if the owner forgets the recovery phrases of those assets then it is forever gone and just sitting on the blockchain. Imagine 5% of bitcoin's supply being lost and irrecoverable then this could result a lot of volatility if that percentage increases over the years. I hope in the future something will be developed to solve that issue.

spiker777

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Quote from: Bitstar_coin on September 04, 2022, 05:08:24 AM

The diagram below gives a short and precise distinctive difference between BTC, Gold and Fiat.

with the above explanation it is clear why btc is better and the best choice over the rest. If you are still in doubt it is too bad because you are clearly missing out.

That's a well explained infographic to understand importance of bitcoin over Fiat and gold. it is clear that bitcoin has way more advantage than gold and fiat. not just these mentioned in the image but there are so many more benefits and advantages of bitcoin.
one I can think of is that we can literally keep millions dollars worth of bitcoin in a single wallet and keep that in our pocket and purse. but we can't do that with fiat and gold. obviously not possible.

boyptc

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Quote from: AmoreJaz on September 04, 2022, 05:15:02 PM

Quote from: boyptc on September 04, 2022, 05:09:44 PM

While the gold and fiat defenders, they'll reason out that bitcoin is intangible. Tongue

Scarcity for bitcoin is a great thing and that's why the majority of us understands that in the near future, this asset is going to be of a great value that the others haven't seen yet.

It's easy to carry and to store and you can just simply walk on the side walk being an investor and holder of it without being showy.

let us be open to the fact that there are pros and cons also holding btc, and so with gold and fiat. but much better if we can have all of them. at least diversify your funds. and no matter what, gold and fiat will still remain in this market. they are tangible assets that we can physically hold. and remember, not all people in this world are familiar with bitcoin or crypto, so many are still preferring the traditional means of payment method. and it may not change for them anytime soon.

Yes, there are pros and cons.

But as someone who had experienced the roller coaster ride of bitcoin, all I can say is that I don't look at the cons of it. Mostly, I'm only looking at the pros of it because it has benefited me.

That's real story that has happened in my life when I've chosen to take the path with bitcoin and holding and investing on it. It is important to understand and learn what you're up to so that there will be no regrets when the market didn't go from what you're expecting.

Cryptmuster

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Quote from: Smack That Ace on September 04, 2022, 10:13:45 PM

To be honest, bitcoin is good and the best choice when we talk about the investment aspect but it cannot be the best in all cases. Like you said, fiat will still be king in everyday spending and buying something, I still find the convenience of fiat in my life, it doesn't become useless even if bitcoin is here. Same for gold, bitcoin is a better investment than gold but given its volatility, it cannot be said that it is a more stable store of assets than gold. Bitcoin cannot replace gold as jewelry for people. Human needs are extremely abundant, bitcoin is not something that is too versatile to be able to provide us with every utility.

I don’t know if it’s right to call bitcoin the best investment compared to gold, many are ready to argue with you about this. But bitcoin has a lot of positive aspects. After all, before bitcoin became universally recognized, gold did not have any truly worthwhile competitors. And if you take the cryptocurrency market, then bitcoin is without a doubt the best investment option that you can do.

Wolfencloud

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I think its not fair to compare the three, they have their own pros and cons. Yes, it is true that bitcoin may have all the advantages a human need but keep in mind that there are a lot of people who doesn't use any electronics or gadgets. So I guess the diagram is still missing out something.

Gladitorcomeback

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Btc will be always on top because of high security and total decentralization. Many coins now in market but not Decentralized like BTC .
Btc volume is also so high and Diagram clearly show why people believe BTC.

Silberman

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Quote from: AmoreJaz on September 04, 2022, 05:15:02 PM

Quote from: boyptc on September 04, 2022, 05:09:44 PM

While the gold and fiat defenders, they'll reason out that bitcoin is intangible. Tongue

Scarcity for bitcoin is a great thing and that's why the majority of us understands that in the near future, this asset is going to be of a great value that the others haven't seen yet.

It's easy to carry and to store and you can just simply walk on the side walk being an investor and holder of it without being showy.

let us be open to the fact that there are pros and cons also holding btc, and so with gold and fiat. but much better if we can have all of them. at least diversify your funds. and no matter what, gold and fiat will still remain in this market. they are tangible assets that we can physically hold. and remember, not all people in this world are familiar with bitcoin or crypto, so many are still preferring the traditional means of payment method. and it may not change for them anytime soon.

While it is true there are some cons to holding bitcoin, the pros are so numerous that most of the time we can disregard the cons as not important at all, now it is true that is important to diversify your funds and it is a good idea to invest in gold if you can, but when it comes to fiat you should only hold as much as you really need because the more fiat that you hold the more you lose thanks to the inflation that at the moment is very high all around the world.

Smack That Ace

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Quote from: dothebeats on September 04, 2022, 12:01:07 PM

Bitcoin is your best choice on the criteria that you have outlined, but what about other things? I'm a supporter of bitcoin, and I use it for keeping my assets safe against inflation among other things, but there are some things that other asset classes can do that bitcoin can't. Fiat remains to be the king when it comes to purchasing something, and gold remains to be one of the most important metals as it has other uses aside from being used as a jewelry and for other shiny things. We can be bias on our criteria, but facts remain facts at the end of the day.

To be honest, bitcoin is good and the best choice when we talk about the investment aspect but it cannot be the best in all cases. Like you said, fiat will still be king in everyday spending and buying something, I still find the convenience of fiat in my life, it doesn't become useless even if bitcoin is here. Same for gold, bitcoin is a better investment than gold but given its volatility, it cannot be said that it is a more stable store of assets than gold. Bitcoin cannot replace gold as jewelry for people. Human needs are extremely abundant, bitcoin is not something that is too versatile to be able to provide us with every utility.

landheer

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because people predict the price of bitcoin in the future will be high, so many of them choose bitcoin for long-term investment, and because bitcoin is in limited supply then people will definitely choose bitcoin for long-term investment, but I think gold is also no less important because the price of gold from year to year the price is increasing because gold has many uses other than for jewelry it is also always used for electronics and so on. so I thought bitcoin, gold and money. I think they are inseparable friends, and we should have them all.

AmoreJaz

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Quote from: boyptc on September 04, 2022, 05:09:44 PM

While the gold and fiat defenders, they'll reason out that bitcoin is intangible. Tongue

Scarcity for bitcoin is a great thing and that's why the majority of us understands that in the near future, this asset is going to be of a great value that the others haven't seen yet.

It's easy to carry and to store and you can just simply walk on the side walk being an investor and holder of it without being showy.

let us be open to the fact that there are pros and cons also holding btc, and so with gold and fiat. but much better if we can have all of them. at least diversify your funds. and no matter what, gold and fiat will still remain in this market. they are tangible assets that we can physically hold. and remember, not all people in this world are familiar with bitcoin or crypto, so many are still preferring the traditional means of payment method. and it may not change for them anytime soon.

boyptc

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While the gold and fiat defenders, they'll reason out that bitcoin is intangible. Tongue

Scarcity for bitcoin is a great thing and that's why the majority of us understands that in the near future, this asset is going to be of a great value that the others haven't seen yet.

It's easy to carry and to store and you can just simply walk on the side walk being an investor and holder of it without being showy.

Captain Corporate

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Quote from: Mahanton on September 04, 2022, 04:59:18 PM

Dont know on whats up into those peoples mind on why they do really believe that bitcoins price would become stable considering that this had been volatile since the beginning of time.
Bitcoin wont really be continuing on sitting up on the top ranks if it wasnt really be the best choice.For those who do keep on saying negative things then they are the ones who dont know on whats
Bitcoin is all about or just really just hating it out.

That is %100 true, we are not going to end up with anything that is shocking right now, it would be quite the tough challenge if we were just stable, then how could we make all this kind of money? This is why its clear that bitcoin is something that will take a bit of time before it could calm down and it will always be volatile. There isn't any problems with the situation we are in right now, its quite alright and we shouldn't be shocked with the fact that nobody really cares about stabtility and they all want volatile because traders are main interest group and they love it when it goes up and down.

Mahanton

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Quote from: lalabotax on September 04, 2022, 03:45:04 PM

Quote from: Lucius on September 04, 2022, 05:58:57 AM

Bitcoin, unlike gold, has a max supply that we all know is 21 million BTC, while there are only estimates for the total amount of gold that has been mined so far and that is still underground. Not to mention all that gold found on various asteroids or other planets in our solar system.

You are right. Even, Bitcoin circulating supply is always decreasing over time. Since it is very possible that some people forget the key private to access their Bitcoin on the wallet, the circulating supply of Bitcoin won't be stable. Unlike Gold, the number of Bitcoin in the market is going to decrease, while Gold is increasing although it is not too massive because it is a rare thing. In this matter, Bitcoin has a better advantage that the price will tend to increase gradually day after day since its circulating supply is decreasing.

Dont know on whats up into those peoples mind on why they do really believe that bitcoins price would become stable considering that this had been volatile since the beginning of time.
Bitcoin wont really be continuing on sitting up on the top ranks if it wasnt really be the best choice.For those who do keep on saying negative things then they are the ones who dont know on whats
Bitcoin is all about or just really just hating it out.It would be always the best choice but dont forget about risk management since nothing is assured if we do talk about
future things or somethings gonna happen ahead.

lalabotax

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Quote from: Lucius on September 04, 2022, 05:58:57 AM

Bitcoin, unlike gold, has a max supply that we all know is 21 million BTC, while there are only estimates for the total amount of gold that has been mined so far and that is still underground. Not to mention all that gold found on various asteroids or other planets in our solar system.

You are right. Even, Bitcoin circulating supply is always decreasing over time. Since it is very possible that some people forget the key private to access their Bitcoin on the wallet, the circulating supply of Bitcoin won't be stable. Unlike Gold, the number of Bitcoin in the market is going to decrease, while Gold is increasing although it is not too massive because it is a rare thing. In this matter, Bitcoin has a better advantage that the price will tend to increase gradually day after day since its circulating supply is decreasing.

Asiska02

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With the figure as an example, it is clear that bitcoin is the best asset to hold onto. Despite its short history and volatile character, it may be studied and understood in contrast to other systems that are controlled by those in positions of authority. It won't be an issue to hodl it, and it will be the greatest option for one. Every other choice in the table has provided a clearer explanation of why holding bitcoin will be the greatest option for storing money. Even if gold and fiat both have their own advantages over bitcoin, they also each have their own disadvantages.

fiulpro

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Bitcoins is definately something that is preferred over other cryptocurrencies but at the same time there is always the problem of it being the source of much pollution since bitcoin is essentially mined and most of the environmental activists will try and blame it directly on bitcoins. Therefore overtime people might try and switch to much greener options, might happen, might not happen, might be forced to happen, who knows ? But I do think it does have unlimited potential and thus should be ofcourse respected perse, we have to also remember that it generally works synergistically with other Altcoins as well.

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