Will you be in favor of Gold or Bitcoin !! - page 6.

edgycorner

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Hurrah for Karamazov!

A bank b being perma bull, what's new. They are right about their analysis of bitcoin being closely related to NASDAQ and S&P 500, but who doesn't know that by now?

I do agree with the analysts at Deutsche Bank that Bitcoin is more like a highly marketed asset, such as diamonds than it is like gold. This is because, like diamonds, the value of Bitcoin is largely based on perception and not on tangible factors like scarcity or utility

darkv0rt3x

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Quote from: ChrisPop on July 02, 2022, 11:04:35 AM

Quote from: dansus021 on July 02, 2022, 04:28:19 AM

Both bitcoin and gold are good for investment and both are volatile too, I would consider buying both of them rather than only one Grin

but bitcoin is crazy stuff that really make addicted rather than traditional gold.

If it makes you addictive you should take a step back and reassess your investment strategy. Emotions do not have a place in the investing game. Be objective when analysing investment opportunities and when designing your strategy.

I think he meant addicted in a good way. I'm also addicted to Bitcoin because it's simply the best asset to own, even if the price still shows quite some volatility. But when you're in for the properties, the concept, the tech, etc, you don't need to worry about volatility. You simply DCA whenver you can and hold it! There is a lot of people using it almost daily, which allow all the other people to buy and hodl and it won't lose value because there are only hodlers!

0verseer

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A bull signal from a German bank? It was regard to Gold that seem to favor Bitcoin over Gold? Hmm, you know how a teller would say Gold is so outdated and too much trouble for storage and you should sell it for cash then deposit it at with an interest rate? No thanks, I rather have both Gold and Bitcoin altogether since both of them are good. It was the fiat/cash that should be reduced to favor more Gold and Bitcoin. Seem like a ploy to get people to sell their Gold to the banks but with Bitcoin as bait.

amishmanish

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Certainly the market might now climb with equal speed now, like they did in previous downturns of bitcoin, but they surely will rise. But gold will never reach the heights which bitcoin is poised to reach, because there is a constant supply of gold keeping the cost of gold under control. So you might not make any astronomical profits, with gold. But with bitcoin you can change your life for better.

danadc

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I can't give a taste for either, both have a great benefit, but if we see it as a growing asset, my taste goes very much in favor of Bitcoin, but if I want money not to lose value and remain the same, I would go for it. gold that has more stability in the face of the biggest problems such as wars, pandemics, as we are experiencing it, the smartest thing for everyone is to be able to have investment in both assets. I know that there are many people who do not see bitcoin as an asset, because they think that bitcoin is high risk and I think that is why it has dropped so much in price because they need to have more confidence in it and not be afraid to invest .

romero121

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Quote from: Smack That Ace on July 02, 2022, 09:16:57 PM

Quote from: The Cryptovator on July 02, 2022, 03:20:26 PM

Favour Bitcoin or gold questions on this forum are quite ridiculous. It's because 99% of users here are Bitcoin fans. So we will blindly Favour Bitcoin. Personally, I trust Bitcoin as a currency, not an assets to be honest. So I am not ready to compare a currency with real-life assets like gold or diamonds. No matter how valuable assets are. Bitcoin is a virtual currency and we can use it virtually as well. A lot of merchants expect Bitcoin makings payments. So at this point, my belief is that Bitcoin is a currency.

Bitcoin is the perfect version of combining the two characteristics of money and property, both as a method of payment and as a store of assets. However, if we examine the current reality we can see the trend of bitcoin is to become more of an asset than a method of payment today. The majority of us are accumulating bitcoins and holding them until the price increases, then selling them for a profit.

Currency such as bitcoins can be used to make cross-border payments at much lower cost and time than today's methods but with its high volatility and price increase, very few people will use it as a currency, they would rather hold it than use it daily.

With multiple usage access bitcoin takes the lead over gold. Another thing, bitcoin have grown in a much lesser time period to be compared with gold. Same time gold took generations to reach its position. What I understood is technology can make changes in a much shorter time period. Here blockchain along with bitcoin have done it.

Few decades back means people would've said it is gold. Now even the gold store needs internet connectivity to make the buy and selling. So, internet is everywhere and this makes bitcoin to be more accessible. So, there is nothing to worry of bitcoin serving to be the better store of value against gold.

ingiltere

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Quote from: Smack That Ace on June 30, 2022, 10:31:39 PM

Deutsche Bank, one of the largest private banks in Germany, predicts Bitcoin will return to $28k by the end of the year.
Interesting is that they rate Bitcoin as more valuable than Gold, they compare Bitcoin as rare as Diamond. Grin

https://www.bloomberg.com/news/articles/2022-06-29/deutsche-bank-says-bitcoin-could-reach-28-000-by-year-end

Personally, I think both Gold and Diamonds will not be comparable to Bitcoin.
Gold is still abundant on earth that humans have not yet exploited,
You know, Diamonds are something that we can make if we want more, Bitcoin is not, there is a limited 21 million Bitcoins and then no one will be able to generate more than one new BTC.

On June 8, 2022, Uganda said it had discovered 31 million tons of gold ore, which could generate 320,158 tons of gold, more than the current total gold in the world is 201,296. Tongue

This is only one-way information from Uganda and has not been recognized by the world gold council, but it shows that it is difficult to know exactly how much gold is in the world, there may be a lot more out there. Regarding Bitcoin, no one can deny that there is only 21 million BTC.

I wouldn't comment on their end of the year prediction because it's impossible to know at what price Bitcoin will be in X time but we all know that Bitcoin will recover and find new tops, we just don't know when. I liked their optimism though.

There may be more gold in the world, I'm skeptical about Uganda news. Even if it turns out true, gold would still be valuable -worth less than today though- and used as store of value.

I believe we have a clear winner in this comparison. After internet comes up to our lives there was a need in secure digital money and Bitcoin fulfilled that spot. Like Satoshi said in 10 years Bitcoin either will be very valuable or have no value at all. Well, 10 years passed and it turns out that Bitcoin is valuable. People already accepted this fact.

Smack That Ace

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Quote from: The Cryptovator on July 02, 2022, 03:20:26 PM

Favour Bitcoin or gold questions on this forum are quite ridiculous. It's because 99% of users here are Bitcoin fans. So we will blindly Favour Bitcoin. Personally, I trust Bitcoin as a currency, not an assets to be honest. So I am not ready to compare a currency with real-life assets like gold or diamonds. No matter how valuable assets are. Bitcoin is a virtual currency and we can use it virtually as well. A lot of merchants expect Bitcoin makings payments. So at this point, my belief is that Bitcoin is a currency.

Bitcoin is the perfect version of combining the two characteristics of money and property, both as a method of payment and as a store of assets. However, if we examine the current reality we can see the trend of bitcoin is to become more of an asset than a method of payment today. The majority of us are accumulating bitcoins and holding them until the price increases, then selling them for a profit.

Currency such as bitcoins can be used to make cross-border payments at much lower cost and time than today's methods but with its high volatility and price increase, very few people will use it as a currency, they would rather hold it than use it daily.

darkangel11

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Based on the chart above, I bet someone who bought in the 1980 and held for 5 years felt really sour since each year he had less and less value in his stash. It's similar to what people felt in the past bear markets. In 2014 price was low, but in 2015 it went even lower, yet we held on and eventually it paid off.
All valuable assets have their days and holding in the long run pays off unless something gets completely wiped out, like the telegraph, fax machines, cassette players and many more. If you invest in a dying technology you lose, so let's hope that bitcoin isn't one.

I prefer bitcoin over gold because I can hide it and move it with ease. Nobody can steal it from me and if I get desperate I can die with my passphrase and nobody will get it.
In hard times, like when you're at war, carrying gold makes you a target. You become meat to other people. They can blow you up with a grenade or burn you and the gold will still be there in your remains. Bitcoin is different. You can't simply kill someone and take it away. It's difficult to find. You never know if someone is carrying a million dollars in bitcoin hidden on a microsd card. Try hiding a million in gold Wink

Stalker22

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Quote from: sklopan on July 02, 2022, 03:17:31 PM

I am definitely for gold. If the goal is to invest money and not go into the negative - definitely gold. Really an investment that definitely won't lose. But bitcoin can bring both profit and loss.

Do you really believe that investing in gold has never produced a loss? You should check the gold price charts throughout history.

https://www.investing.com/currencies/xau-usd

I think it is safe to say that buying gold as a place to store wealth would not be a sound long-term investment unless you can wait decades.

_BlackStar

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Gold is a physical investment asset that should be a good choice for most people over the years regardless of whether it is investment, savings or jewelry or something and is still profitable in the long term. I myself don't choose to assume much about these two assets as to which one is the best. I also don't think I should support one where I should ignore the other. In the realm of investment, both investment assets fluctuate depending on supply and demand, but gold tends to be influenced by world politics and the strength of the dollar.

Having both is the best way to make your money work for you in the long run, but of course everyone involved must understand how the market works so we are required to have good risk management for any investment asset choice between the two. So far I have both and support both, it's fine.

Quote from: Slow death on July 02, 2022, 03:48:54 PM

just put things like this:

- you buy $3000 in gold

- you buy $3000 in bitcoin

Hodl for 5 years

In the end you will see if you are losing something if you buy bitcoin, if you look at the price of bitcoin in a short period of time then you will be thinking that you are going to lose money, but if you buy bitcoin to hold for a long period of time you will not you will have losses, while the other has low increases, so low that it looks like the person has opened a savings account in a bank

Also tell them about the risks of both investments, so they don't just know about the potential gains while they are ignorant of the risks and the worst that could come their way.

Slow death

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Quote from: sklopan on July 02, 2022, 03:17:31 PM

I am definitely for gold. If the goal is to invest money and not go into the negative - definitely gold.

just put things like this:

- you buy $3000 in gold

- you buy $3000 in bitcoin

Hodl for 5 years

In the end you will see if you are losing something if you buy bitcoin, if you look at the price of bitcoin in a short period of time then you will be thinking that you are going to lose money, but if you buy bitcoin to hold for a long period of time you will not you will have losses, while the other has low increases, so low that it looks like the person has opened a savings account in a bank

The Cryptovator

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Favour Bitcoin or gold questions on this forum are quite ridiculous. It's because 99% of users here are Bitcoin fans. So we will blindly Favour Bitcoin. Personally, I trust Bitcoin as a currency, not an assets to be honest. So I am not ready to compare a currency with real-life assets like gold or diamonds. No matter how valuable assets are. Bitcoin is a virtual currency and we can use it virtually as well. A lot of merchants expect Bitcoin makings payments. So at this point, my belief is that Bitcoin is a currency.

sklopan

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I am definitely for gold. If the goal is to invest money and not go into the negative - definitely gold. Really an investment that definitely won't lose. But bitcoin can bring both profit and loss.

aylabadia05

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Gold and Bitcoin, for me is the best investment.
Honestly, both must exist because both have proven their worth.
In 2013, the historical data that I saw on coinmarketcap.com was very clear that the price of Bitcoin was only hundreds of dollars.
When compared to this year's price (2022) specifically the current price of Bitcoin, it is clear that Bitcoin is a valuable asset with volume that cannot be reproduced as you mentioned. Unlike gold, which can still increase in volume.

bitzizzix

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Gold tends to be stable, gains can be very long over many years, and seek very small daily gains.
bitcoin or other crypto, you can search every day, because of its unstable nature, you can earn hundreds of millions a day, but maybe the risk of losing assets is also great.
and I think gold is safe, but if you want big gains, bitcoins and losses, that's the risk you have to take. However, everything can be anticipated with strong patience to wait for it, even if you have to wait a long time bitcoin will still provide a very good return compared to gold.
So I strongly support bitcoin, besides being more profitable, bitcoin can be used for transactions and also store value, and besides that we are in full control.

kensaii

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Both easily since they have their own use and don't really cross or step into each other as many have thought. Also, I opt for diversification no matter how good gold or bitcoin, one compares to the other. Bitcoin for volatile and gold for stable.

virasisog

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Quote from: tjtonmoy on July 02, 2022, 11:45:22 AM

BTC is BTC. you can't compare it to anything else. gold and diamond also all the other stones have high value, because people made them valuable. Otherwise all those are just stones. But BTC is a miracle

Both could be good assets and investments. We have different perspectives when it comes to investment. Some people prefer gold and diamond as physical assets since they could keep and hold them while others rely on Bitcoin as a profitable investment. We could choose where we could personally think is profitable but both are great for long-term investment as long as we know how to deal with their risks.

tjtonmoy

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BTC is BTC. you can't compare it to anything else. gold and diamond also all the other stones have high value, because people made them valuable. Otherwise all those are just stones. But BTC is a miracle

Minecache

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Both. As a way to diversify my portfolio and reduce my investment risk, I would decide to buy both. Gold is a physical asset and it existed centuries before bitcoin was born, now gold is seen as a safe haven for times of inflation and Bitcoin will be more suitable for our long-term investments. Just buy and hold for the next 5 years, bitcoin will help us avoid inflation and asset value will increase significantly.

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