I guess comparison is how rare both bitcoin is, but as far as I understand it, bitcoin might be rare than gold. And we have seen this comparison in 2017, a bullish run that's why there are many articles about it even in this community.
Each one has it's own advantage, but for investment purposes, obviously, I will favor Bitcoin (BTC).
Topic: Will you be in favor of Gold or Bitcoin !! - page 9. (Read 1701 times)
Anyone who wants to have Gold and Bitcoin, who doesn't want that. Now, since you posted something like that here on the Bitcointalk forum, we know that most of the members are crypto enthusiasts and Bitcoin enthusiasts fanatics,
and I'm also sure that not a single member here on the forum will say no We want gold of course, everyone also like to have Gold, but the majority want Bitcoin. This is just based on my knowledge as one of the community of this industry for a few years now.
and I'm also sure that not a single member here on the forum will say no We want gold of course, everyone also like to have Gold, but the majority want Bitcoin. This is just based on my knowledge as one of the community of this industry for a few years now.
In any case I believe that comparing bitcoin with other stuff that don't even fall in the same category as bitcoin (the currency) is wrong. Both gold and bitcoin serve different purposes than one another. For example you can't really use gold to pay for stuff easily but bitcoin is designed to do exactly that.
As you say, the comparison probably won't be quite right in every respect, fiat, gold, bitcoin, each with its own characteristics and used for different purposes. But people compare because they want to prove that bitcoin is good, it includes the features of gold and fiat. So if bitcoin is widely used then it is considered as all-in-one solution, it can be both a storage asset and a payment method.
As you say, the comparison probably won't be quite right in every respect, fiat, gold, bitcoin, each with its own characteristics and used for different purposes. But people compare because they want to prove that bitcoin is good, it includes the features of gold and fiat. So if bitcoin is widely used then it is considered as all-in-one solution, it can be both a storage asset and a payment method.
That's right if we don't only have this fake news circulating around the internet, especially the global warming hoax that they putting the blame on the crypto miners. We have already reached our goal to prove to the critics that bitcoins can be stored and can be used as a means of payment for everything. Thankfully nowadays we have big companies that are supporting bitcoins by using it as one of the payment features and some countries that are supporting it as well. Unlike back then, you don't read such news and there are more critics than investors. Now we are heading towards a bright future with bitcoins and they already comparing gold with bitcoins due to its popularity.
Even though there is a lot of Bitcoins on exchanges I would not agree that Bitcoin is as vulnerable as gold. If you take self custody of yours Bitcoins and do it right it is much harder to find your millions or billions worth of Bitcoin and/or keep you from spending them as needed. Yes at that moment Bitcoin is down as compare to earlier year but it is not right thing to call it vulnerable as gold.
Of course in a Bitcoin forum we are going to be more in favor of Bitcoin than gold. Some argue that Bitcoin is digital gold, a much better store of value than gold. Following the analogy that google maps is much better than paper maps, Bitcoin would be much better than gold.
Although it's not bad to have some physical gold, I have some. What you should not do is make the mistake of buying gold jewellery as an "investment" because if you are going to sell it in the future you will get much less than you paid for it.
Although it's not bad to have some physical gold, I have some. What you should not do is make the mistake of buying gold jewellery as an "investment" because if you are going to sell it in the future you will get much less than you paid for it.
Gold is still a very popular choice for people but if you look at the returns then there are relatively negligible returns over gold investment over past few years while bitcoin has shown huge growth in just 13 years so for me bitcoin is the best option to invest your money in.The main point is you can use it and convert it to fiat or directly spend it if possible but that's not the case with gold and moreover government control it but bitcoin is your asset not anyone's else.
Here is quote from Satoshi himself while making this prolonged comparison:
The gold supply is at the time not known and with mining it comes to existence and not a good investment for me so bitcoin is good option according to me.
Here is quote from Satoshi himself while making this prolonged comparison:
It's the same situation as gold and gold mining. The marginal cost of gold mining tends to stay near the price of gold. Gold mining is a waste, but that waste is far less than the utility of having gold available as a medium of exchange.
I think the case will be the same for Bitcoin. The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used. Therefore, not having Bitcoin would be the net waste.
I think the case will be the same for Bitcoin. The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used. Therefore, not having Bitcoin would be the net waste.
The gold supply is at the time not known and with mining it comes to existence and not a good investment for me so bitcoin is good option according to me.
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.
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.
The Republic of Uganda, is a country located on the African continent.
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.
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.
https://news.bitcoin.com/uganda-claims-exploration-surveys-discovered-31-million-metric-tons-of-gold
Good luck
Duke
I will be certainly in favor of Bitcoin because it has shown tremendous since it was launched back in 2009. This incredible growth has created many new Millionaires worldwide and no other asset class including Amazon which is Giant of stock market comes close to it.The only thing which worries me is Bitcoin strong co-relation with Stock market which is against its perception of store of value/Inflation hedge like Gold.
This question is more like If you will favor Satoshi Nakamoto or Peter Schiff. Of course, Satoshi.
You are on a Bitcoin Forum and asking If Gold is worth anything in front of the fastest-growing asset class in history?
That's not how it works mate.
You are on a Bitcoin Forum and asking If Gold is worth anything in front of the fastest-growing asset class in history?
That's not how it works mate.
choose both. Because Bitcoin and gold both have their own advantages and disadvantages. Can't be compared with just one difference.
Gold has a stable investment value and gold is also said to be a "safe haven" asset that will be safe for the long term and its price fluctuations are not like bitcoin.
Bitcoin has rapid and even extreme price fluctuations and this makes bitcoin a High Risk High Return digital investment asset.
Most people do not have the money to buy the two assets and as such investors need to pick a single one of them, if someone decides to pick gold I have no problem with it as it is better than to hold fiat, however in order to see any kind of benefits out of gold you need to either hold for decades or you need to invest in it before a severe economic crisis occurs, bitcoin on the other hand can give more profits in a shorter amount of time, and unlike gold which we do not even know how much it is left to mine, bitcoin is completely different and we know exactly how much it will ever exist, how much bitcoin is left to be mined and when this process will end, giving bitcoin a massive advantage if we compare it to gold or fiat in this particular aspect. Gold has a stable investment value and gold is also said to be a "safe haven" asset that will be safe for the long term and its price fluctuations are not like bitcoin.
Bitcoin has rapid and even extreme price fluctuations and this makes bitcoin a High Risk High Return digital investment asset.
choose both. Because Bitcoin and gold both have their own advantages and disadvantages. Can't be compared with just one difference.
Gold has a stable investment value and gold is also said to be a "safe haven" asset that will be safe for the long term and its price fluctuations are not like bitcoin.
Bitcoin has rapid and even extreme price fluctuations and this makes bitcoin a High Risk High Return digital investment asset.
Gold has a stable investment value and gold is also said to be a "safe haven" asset that will be safe for the long term and its price fluctuations are not like bitcoin.
Bitcoin has rapid and even extreme price fluctuations and this makes bitcoin a High Risk High Return digital investment asset.
In any case I believe that comparing bitcoin with other stuff that don't even fall in the same category as bitcoin (the currency) is wrong. Both gold and bitcoin serve different purposes than one another. For example you can't really use gold to pay for stuff easily but bitcoin is designed to do exactly that.
Deutsche Bank, one of the largest private banks in Germany, predicts Bitcoin will return to $28k by the end of the year.
I think when bitcoin starts rising back up again and breaks a resistance or two, it won't just stop at $28k. Remember a couple of years ago when $4k was broken and in a very short time price went from $3.1k bottom to $10k?In any case I believe that comparing bitcoin with other stuff that don't even fall in the same category as bitcoin (the currency) is wrong. Both gold and bitcoin serve different purposes than one another. For example you can't really use gold to pay for stuff easily but bitcoin is designed to do exactly that.
But as far as their cap and circulating supplies go, you are right both have limited maximum supply but gold's circulating supply can be increased by a lot as the news from Uganda proves.
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.
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.
The Republic of Uganda, is a country located on the African continent.
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.
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.
https://news.bitcoin.com/uganda-claims-exploration-surveys-discovered-31-million-metric-tons-of-gold
Good luck
Duke
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