Topic: Will people come back to gold - page 5. (Read 24528 times)

people will still choose bitcoin even at the times likes this, gold seems to be harder to earn or mine unlike bitcoin, you can earn it right here or anywhere that adopts cryptocurrency. It will be just a matter of time before bitcoin takes over everything.

That is what many believe but it is not true, convenience goes out of the window when your fiat is not worth the paper in which it is printed at that point people will use whatever form of money that guarantees them stability even if it is not as convenient to use as fiat, so gold could always make a come back and all the governments around the world know it.

ah!
 You should read the Bitcoin Standard by Saifedean Ammous and revise some of your statements.
https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861
Really good read.

I see no purpose in gold. It looks nice. If stuff hits the fan, your gold will have no utility in "the collapse". The government has seized it before. And if there's a societal collapse, having currency should be the least of your concerns. There won't even be an economy.

The abandonment of gold has made us more economically safer. We don't have extreme booms and busts. Interest rates are under control. The currency can act as a buffer for any economic issues. Inflation has never been so consistently low. Just in the 60's (when we had gold) there were decades of stagflation. The floating of the dollar has been good for the world economy.

Govs are keeping his reserve in golds it works like a hedge to dollar
But people i don't think so
There are countries where gold is like very traditional saving.That is Russia for example
China is very much supporting gold buy by his people and companies
But gold is much more like a saving than investment for profit
Gold price is frozen by virtual gold trading i hope it will be not the same with bitcoin

Again, I repeat an important concept I tried to explain in one of my post here above: Gold is a good store of value because it has a constant REAL purchasing power. Gold price in FIAT measure in reality the volatility of the unit of measure, the price of the FIAT currency. Gold has been appreciating in USD terms because USD has been slowly losing value because of inflation. Gold in BOLIVAR had an explosive price action,  not because it became suddenly preciour, but because bolivar basically lost all his value.
Gold has proven such potential over centuries. Bitcoin started 10 years ago. It’s a long way to be a proven store of value.

Money isn't backed by precious metals. It's backed by an IOY of the government. A long, long time ago it was backed by gold and silver.
Crypto is backed by math and math can be broken too.

Gold will always be gold. Don't expect it to increase or decrease in value a lot. This makes gold a stable investment.

I do not think that investors who were after gold are also investing in cryptocurrency. Cryptocurrency is new compared to gold so the users were also new. Those old one's are having use to invest gold and they are now earning the profit but if they had also made it to cryptocurrency then probably OP is right they may be able to go back investing in gold because cryptocurrency is not good for now.

For many people, Gold is more trusted as store of value and as investment. Gold already known for centuries and its very easy to liquidate Gold if holder want to sell it. But i think bitcoin and gold can be an investment at same time

I agree with the commentator above. Due to the fall of Bitcoin, traders have nothing left but to switch to something else. It seems that gold has become. 

after the fall of bitcoin prices from 2018, it seems that there have been a lot of cryptocurrency traders who have moved out and moved back to gold trading, chances are they will come back when the bitcoin is able to make a profit again.

Gold, unlike Bitcoin, has long been used by people. In turn, this shows the stability of gold. Therefore, it is natural that they acquire it, although there are other factors for this. 

Well gold shares aren't gold so let's put that aside.
Almost all cash in countries are no longer backed by gold or silver so keeping your gold in the bank is an IOY. Cash is also an IOY. IOY is not gold.
The federal reserve is most likely empty since my country and other countries are having problems getting gold back from the USA.
More and more people are no longer trusting banks and are physically storing gold and silver.
The topic talks about going back to gold. I interpreted it like having gold in the olden days. When you bite your gold dollar to test if it real.

I know there is no full anonymity that's why I wrote "a good level of". Ever tried tracing a coin to a person? No well it's not as simple as you might think. Especially if you run it through a few trading sites or satoshi dice mixers or swap it around through shitcoins or sell it through coldwallet handovers. You can only figure out the person after he/she has bought or sold Bitcoin and the providing a link to an account in the ledger.

In your analogy it would be more like.
- You buy a balaclava.
- Cops see you in a balaclava.
- They figure out the type of the balaclava.
- They trace it back to the store(s).
- They get the financial records.
- They trace it to you.
- They then need to figure out if you used your creditcard.
- They then need to figure out if you used the balaclava.

Not as simple.

People very rarely store their gold in their home, I told it already but since you didn't read anything on this topic... on the top of that it's often not covered by insurances. There is no anonymity in cryptos as soon you exchange it with fiat and the money hits your bank account.


It's like if you hide your face with a balaclava but on your t-shirt, it's written "Hey it's me! Wilhelm!" 

Gold can be physically held, has other valuable properties instead of scarsity. It is only subject to theft by people coming to your house/bank. Has been a safe store of value for hundreds of years.
Crypto is good for worldwide transactions with a good level of anonimity. It however can potentially be stolen or cracked making it easier in use and abuse. It is in it's infancy so we don't fully trust it yet.

As with every investment you need to split risk. So it is good to have both in your portfolio.

I therefore think people will still go back to gold.

Crypto is much better than gold.

Instead of backing money up by some precious metal, it's backed by pure abstract math. It's the concept of the future.

Have a look at Glint, it lets you link a mastercard to an allocated gold holding and you can switch between several currencies.

Makes saving and spending gold quick and simple:
https://glintpay.com/

They give me stress. Sometimes I have to read the same post 3 times and it often comes to the point I wonder if I'm not the one who's dumb.
Sure gold won't be used for our daily uses like it was used centuries ago, but as a store of value, it could easily happen. Today generations don't know how it is to live in a war (I don't too btw). If a day it happens they will quickly understand.

Owning physical gold exposes you to a few local thieves, owning bitcoin exposes you to a global network of hackers.

How many exchanges been hacked?
How many people have been scammed on this forum?

Find me a precious metals forum with a section similar to the scam accustion thread on this forum, you wont find one.

$40k gold is the size of a smart phone and very easy to hide away securely and if your discreet how would anyone know you have it?

Buying gold with cash is anonomous, dealing with bitcoin leaves your digital fingerprint everywhere you go.

I think gold now has a high price and bitcoin has dropped dramatically and I think this is a bitcoin problem today and many investors are moving gold rather than bitcoin