Topic: Will you be in favor of Gold or Bitcoin !! - page 8. (Read 1701 times)

Today the gold price in my country have risen, because the ruling government have announced import tax rise over gold. My choice is towards bitcoin, gold is necessary for emergency requirement whereas bitcoin is a life changing investment. Diversified investment is always good, and this helps in keeping the portfolio Stable without much difference being experienced. Right now it is time to move the investments over gold towards bitcoin, because we don't know whether we'll get such opportunity to invest at a lower price.

Hey, I get it. All of us here either crypto enthusiastor or want to get rich quickly by crypto so, of course, we love Bitcoin and all. But come on, gold is nice too. If we want to take over the fiat or push Bitcoin to become a legitimate position in our society, to be stable and widely accept anywhere. We find a common front for both Bitcoin and Gold to exist. You know what I'm thinking, right? Yes, instead of going full favor to either Bitcoin or Gold, you put your stake in both. Let's say I'm a crypto enthusiast and my Bitcoin is also backup by my Gold. That would push Bitcoin 's status to become more legit, just as how fiat is commonly accepted, US petrodollar,...

It's not that I don't want to have gold, but as we know storing gold is equivalent to 1 Bitcoin, it will only make you sleep and not sleep well when storing gold in the room or in the safe. While Bitcoin you can store large amounts without the need to spend a meter of space. Moreover, having to store gold in a bank and give all access to the bank to manage it, of course I refused. From this point we can see the effectiveness of the use and ownership of bitcoin and gold compared to one side to the other.

I actually agree with you- it does not mean that one incurs value overtime that means that they are on an equal footing with each other.

People tend to compared and conclude that BTC is the digital gold of this era. While that may be true in terms of inflation, their innate nature is different. While both may be non-renewable resources, gold has a natural intrinsic value; while the price of BTC is primarily derived from what people are willing to pay for it.

Again, fiat, gold, and cryptocurrencies may have different purposes but all of them have value.

For one to come to a conclusion regarding the viability of the two assets as a store-of-value and analyse their potential as investments he needs to know the history of money. Here just a few points to take into account:

Gold

• It benefits from the ingrained concept in our mind that it is a valuable thing to own. The world has been saving in Gold for thousands of years. A lot of time needs to pass to change mentalities.
• As the OP stated the total supply, while limited, is still unknown to us.
• The cost of extraction - while the supply is not known the cost of extracting the gold from discovered sites might block the actual injection into circulation of the precious metal.

Bitcoin

• As the supply is limited by hard, pure, state of the art code, we can really trust that Bitcoin is extremely rare.
• Digital and portable - it does not take up space and is not that susceptible to physical theft as Gold is. (i.e. Try walking on a dark alley in a dangerous neighbourhood with a gold bullion in your pocket. See how you feel.
• Security and self-custody - with a little bit of research and cybersecurity knowledge you can safely store your wallet.

If you are an open-minded person Bitcoin is a much better store-of-value from all points of view. Who says that value has to have a physical form? --> this is a question I could write a long essay on, but I'll save it for another time.

Not only Deutsche Bank of Germany but many other financial institutions in the world have predicted this. So it is not just ordinary investors but all types of financial institutions are also monitoring it. Gold and Bitcoin are two different things. Someone who has no resemblance to someone is different in terms of usage. Gold has a stability in terms of price which is not the same as Bitcoin. The price of gold will go up. On the other hand, the price of Bitcoin is very less today, but there is no doubt that it may touch moon tomorrow. Because Gold is Unlimited but Bitcoin Limited only 21 million. Overall, Bitcoin is the best in terms of assets and as a medium of exchange.

Why should the prediction be limited to $28k, this can not be accurate as the price in bitcoin is unpredictable, it can go above or below the amount, bitcoin is more valuable and profitable than gold of no doubts and the rate at which many are investing on bitcoin is far better than that on gold, why is because bitcoin is both a currency, an asset and a decentralized currency that can be acquired, possess by anybody unlike gold that has just a single application.

I'm in favour of Bitcoin. Bitcoin has a few properties that gold can't have. Divisibility, potability to name just 2 of them. Recent news also says that new deposits of gold were found in Uganda, iirc, so that will also helps to increase the supply. However, it's well known that is really hard to raise the ratio of new supply versus current supply, so, supposedly gold price won't suffer too much from this aspect. It can suffer from other aspects, but I think not this one! This said, I'm for Bitcoin. Also LN is still growing, developing and still needing adoption to be able to catch up and show it's real value!

For me, gold and bitcoin are two investments that are indeed worth investing in under any circumstances, in terms of saving value for money, of course gold can be an option because its price movement is stable, while bitcoin is of course one of the assets that has quite a fluctuating price and can provide The profit is very large, although it also has a big risk, but of course both investments are profitable investments.

Both have diferent places and serve diferent funcfions and therefore there is not need to compare them to one another. It seems that both are here viewd as imvestment's and we are forgeting that gold is also a powerfull conductor and is used in electronics, and BTC provides a diferenty monetary option than the ones available.

Bitcoins being digital diamond would be really a realistic approach since the diamond does not have a really high price in reality and at the end of the day the demand plus marketing makes it stronger and  in Bitcoins I do think that every person knows how strong is the demand and supply Rule.

- I would personally favour bitcoins ofcourse, Gold is not something that is opt for the middle class, it's an excellent trade off investment for the rich but for the middle class I do think bitcoins is better, it's more volatile and thus can produce better results as well.

I do think that volatility can be scary for most people odc since loosing a lot of money that soon is no joke but at the end they make an enormous amount of money as well when they have enough patience.

Despite the current state of the bitcoin price right now,  I will not compare gold to bitcoin because bitcoin is more valuable and vulnerable than gold. Before the bear market, A lot of people had their millions in bitcoin and up till date, people are still investing knowing that the bull season will soon be here.

The price of bitcoin may reduce but it doesn't loose value like gold, people who choose gold are those who believe in the power of fiat currency, the number of available BTC is well known but gold has no limit to it's supply.

Bitcoin of course , the difference is just very clear between both of them, Gold is good but Bitcoin is much better asset class over Gold.

1•Bitcoin has a limited supply of 21M, not taking into account those wallets that the owners lost their keys and the ones to be lost too, which means only 21M BTC will ever be in existence. .
While the mining of Gold is continuous no one really knows the exact amount of Gold to be in circulation or existence.

2•Bitcoin is more liquid that Gold in the sense that Buyers and sellers are readily available, just with one click you just sell your BTC
Whereas for Gold it take you sometime to find immediate buyers.

3•Time and Cost spent in the transportation of Bitcoin from one place to another Is cheaper than Gold .

For Example...
It will cost you more money and more time to transfer More Gold to China or any other countries than Monday it will cost you while sending huge amount of Bitcoin which is just in a matter of minutes to 1hr or more and BTC is sent to someone in another country.

4• Bitcoin is the only freedom form of money in the whole world, Meaning you are your own bank and you can purchase things with your BTC simply by just doing a transfer to the person. While for Gold , Government overseas the mining activities of Gold.

This is why I will prefer BTC to Gold

I guess this topic will probably continue for a while because people or investors want to keep convincing themselves that Bitcoin is just as good/valuable as Gold. These two entities are different and quite frankly, Bitcoin has grown in just over a very short period compared to Gold but it is still the "Gold standard" in rating everything to the highest level and when it comes to an investment as you said, I too favor Bitcoin and I remember a couple of supporting post from this thread Bitcoin VS. GOLD

Diamonds are not worth putting your money in, so lets get that out of the picture right away.

Gold has its uses being part of jewellery and being liquid anywhere in the world, with a lot of paperwork involved. It is still accepted worldwide and can be sold to get fiat of that country.

Bitcoin is rather a currency that is supposed to be used anywhere in the world, but merchants do not accept it readily, yet.

Both Gold and Bitcoin are limited in real life even if being mined in many countries at this point. Hence my suggestion to anyone who might be wondering is to diversify into these assets. Go for the precious metals, real estate, Bitcoin and stocks. Dont narrow your focus on bitcoin only just because this is a bitcoin forum and most users here are bitcoiners. But dont go for altcoins and dont go for diamonds as an asset store of value.

The physical gold and diamond cannot or will not be compared to Bitcoin but it was used a comparison as bitcoin act as a digital gold or diamond as an asset.
It really is a good thing to see how even a bank recognized the potential of bitcoin and cryptocurrencies where they even appreciated it's term from "Digital Gold" to "Digital Diamond". We all know that diamond has more value than gold and it symbolises the wealth of an individual due to it's rarity. True, that diamond can be artificially created however it's quality varies to it's density which is why it's value is high.

I don't know how people consider bitcoin and gold. For some reason there is always a reason to state bitcoin is better than gold, same as that gold is better than bitcoin. In my experience I find bitcoin to be good, because if I've invested the amount I've spend on gold now I could've turned myself a millionaire. In some occasion the gold I've got helped in getting loan keeping it as collateral. Somehow I'm on the side of bitcoin, because of its limited supply whereas gold has got rare availability. Still through exploration more gold mines can be found.

It's hard to just favor one and completely disregard the other. If I were to choose, I'd choose both. But suffice it to say that I'm not investing in gold right now. It's just that while there is indeed abundant gold in this world and even outside, I don't think it will lose its value in the next hundred years.

Anyway, I agree that Bitcoin isn't really comparable to both gold and diamond. In the case of both, I believe the earth won't be running out of supply even in the next centuries. With Bitcoin, everything's fixed. And it will run out at some point.

I don't agree with what the Deutsche Bank analysts seemed to imply, though, when they said that Bitcoin is more like diamonds in that it is "a highly marketed asset" rather than gold because the latter is "a stable safe-haven commodity." If we remove all the marketing in Bitcoin, it doesn't cease to be popular. The only difference is that its supporters would highly be populated with people who really believe in the technology rather than in a bull run.

Finally, $28,000 by year end is too low.

Considering that I follow what is happening with Bitcoin in the EU, I can say that this is not the first time that German banks give positive opinions about Bitcoin, unlike some other European banks. German bank Bayern LB speculated in 2019 that Bitcoin would reach a price of around $90k after the halving, so even though $100k was something that many predicted, they were still closer to what ended up being the last ATH.

In addition, many large German banks have requested licenses for crypto trading during 2021, which means that the market has become aware that profit can be made there and that Bitcoin has a long-term future.

As for gold, I don't see why here should be so much discussion about what is better or what should be invested in - because gold has its advantages, just like Bitcoin. Long-term gold and Bitcoin have their place in everyday life, with the fact that gold has been proven for thousands of years, and Bitcoin is just at its beginning and will show its real advantages in the time to come.

So we're still deep down in bear and fear territory since the most positive piece of news predicts a return to $28k by the end of the year.
If you would have posted such an article two months ago you would have looked like a bear, now this is bullish 


And yet you do it 

I don't understand this obsession some have to prove that Bitcoin is more valuable than gold, I don't even know what metrics they choose, 1BTC over one kilo one pound one gram of gold and even leaving that aside Bitcoin si one thing gold is another.
Bitcoin can do a lot of stuff gold can't and gold can do some of its own.
You want to store value securely with the key split in tens of places BTC is the way, you can't split gold into atoms and then bring it together (at least not economically feasible)
Do you want to send value in a minute on the other side of the globe with only you and the recipient knowing? BTC ll the way, it's not funny traveling for hours with 2 kilos of gold in your...
Can you give somebody a piece of gold without the need for a computer, electricity, or internet? Yes, even with BTC, this is still possible but with huge risks.
Do you want like the other 2 million people each year in the US to buy an engagement ring? Try it with BTC
As for its usage in medical treatments, there is absolutely no comparison.

Each one has its strengths and each one is impossible to replace with the other one in some cases, this whole debate is meaningless.