wry Posted February 20, 2019 #1 Posted February 20, 2019 Most Bitcoin fans know that the rules a currency must meet is a store of value, a unit of account and a means of exchange. When Bitcoin was soaring its critics said that its high fees kept it from being a means of exchange. To be fair, they may have had a point though improvements are happening here. However, its deflationary nature (only 21 million coins, EVER) have lead many, including myself, to think it may excel as a store of value. No one seems too fixated on unit of account, things like the USD seem to have a lock on that. Anyway, the store of value argument has people frequently comparing Bitcoin to electronic gold, since it is rare and held electronically. I like this metaphor, as do people like Elon Musk (see link below) especially since Bitcoin is easier to ship and store than gold. Given that Musk helped co found Paypal, his insight might be worth considering. However, also fueling this debate, today the World Gold Council weighted in and said Bitcoin was not a substitute for gold. They argue it is too volatile (they may have a point here as they had a cool, but not up to date, graphic) and too thinly traded in comparison to gold to be a real alternative for it. Of course, I'm not sure what else they would say, it's not like they are going to say, yep, game over man, gold's days are done! Plus it's still early in the life of Bitcoin as an asset. It's amazing it's gone from nothing to a $2 billion traded market every day. Something that even the World Gold Council has to admit. So anyway, with Bitcoin trading around $3900 USD, that's worth about 3 troy ounces of gold. Which would you rather have, one Bitcoin or three ounces of gold coins of your choice? Musk on Bitcoin: https://www.marketwatch.com/story/elon-musk-bitcoin-is-brilliant-but-its-not-for-tesla-2019-02-20?mod=hp_markets World Gold Council on Bitcoin: https://www.coindesk.com/cryptos-not-a-substitute-for-the-yellow-metal-says-world-gold-council
bicoinman Posted February 20, 2019 #2 Posted February 20, 2019 11 minutes ago, wry said: Most Bitcoin fans know that the rules a currency must meet is a store of value, a unit of account and a means of exchange. When Bitcoin was soaring its critics said that its high fees kept it from being a means of exchange. To be fair, they may have had a point though improvements are happening here. However, its deflationary nature (only 21 million coins, EVER) have lead many, including myself, to think it may excel as a store of value. No one seems too fixated on unit of account, things like the USD seem to have a lock on that. Anyway, the store of value argument has people frequently comparing Bitcoin to electronic gold, since it is rare and held electronically. I like this metaphor, as do people like Elon Musk (see link below) especially since Bitcoin is easier to ship and store than gold. Given that Musk helped co found Paypal, his insight might be worth considering. However, also fueling this debate, today the World Gold Council weighted in and said Bitcoin was not a substitute for gold. They argue it is too volatile (they may have a point here as they had a cool, but not up to date, graphic) and too thinly traded in comparison to gold to be a real alternative for it. Of course, I'm not sure what else they would say, it's not like they are going to say, yep, game over man, gold's days are done! Plus it's still early in the life of Bitcoin as an asset. It's amazing it's gone from nothing to a $2 billion traded market every day. Something that even the World Gold Council has to admit. So anyway, with Bitcoin trading around $3900 USD, that's worth about 3 troy ounces of gold. Which would you rather have, one Bitcoin or three ounces of gold coins of your choice? Musk on Bitcoin: https://www.marketwatch.com/story/elon-musk-bitcoin-is-brilliant-but-its-not-for-tesla-2019-02-20?mod=hp_markets World Gold Council on Bitcoin: https://www.coindesk.com/cryptos-not-a-substitute-for-the-yellow-metal-says-world-gold-council I think that this image of cryptomony known worldwide bitcoin that we all do is just an image. Because Bitcoin Gold derives from BITCOIN, it is hard to say that bitcoin can not can not give way .... honestly let's see a bit bitcoin system together .. it is present since, which means that its tree structure, its way of working, its lines of codes are already associated with our daily life not to say that these systems are based on the life she had! So I would say that for those who love and love Bitcoin, it's true it's a good thing but if you want adventure and fun like from the beginning, you'll rub a little bit BITCOIN GOLD Cheers...!
Kate Posted February 20, 2019 #3 Posted February 20, 2019 I would rather have hold a bitcoin at first since I believe the whalers are letting enough investprs buy at first and then they gonna make the price rise high.
ceastem Posted February 21, 2019 #4 Posted February 21, 2019 As of now, I say hold a bitcoin! for gold, yes holding a bar of gold will stay almost the same as holding it 10 years from now. but i don't think i will be happy that the value for my money just sat there waiting to be withdrawn. As you said, the price of bitcoin changes quite a lot and quite fast too. Bitcoin just suffered a gigantic blow and will surely soar up (in my opinion) and i believe now is a good time as ever to invest in bitcoin due to its low value. Although it is risky, it might be worth it, and that's what I like.
wilbur Posted February 21, 2019 #5 Posted February 21, 2019 17 hours ago, wry said: Most Bitcoin fans know that the rules a currency must meet is a store of value, a unit of account and a means of exchange. When Bitcoin was soaring its critics said that its high fees kept it from being a means of exchange. To be fair, they may have had a point though improvements are happening here. However, its deflationary nature (only 21 million coins, EVER) have lead many, including myself, to think it may excel as a store of value. No one seems too fixated on unit of account, things like the USD seem to have a lock on that. Anyway, the store of value argument has people frequently comparing Bitcoin to electronic gold, since it is rare and held electronically. I like this metaphor, as do people like Elon Musk (see link below) especially since Bitcoin is easier to ship and store than gold. Given that Musk helped co found Paypal, his insight might be worth considering. However, also fueling this debate, today the World Gold Council weighted in and said Bitcoin was not a substitute for gold. They argue it is too volatile (they may have a point here as they had a cool, but not up to date, graphic) and too thinly traded in comparison to gold to be a real alternative for it. Of course, I'm not sure what else they would say, it's not like they are going to say, yep, game over man, gold's days are done! Plus it's still early in the life of Bitcoin as an asset. It's amazing it's gone from nothing to a $2 billion traded market every day. Something that even the World Gold Council has to admit. So anyway, with Bitcoin trading around $3900 USD, that's worth about 3 troy ounces of gold. Which would you rather have, one Bitcoin or three ounces of gold coins of your choice? Musk on Bitcoin: https://www.marketwatch.com/story/elon-musk-bitcoin-is-brilliant-but-its-not-for-tesla-2019-02-20?mod=hp_markets World Gold Council on Bitcoin: https://www.coindesk.com/cryptos-not-a-substitute-for-the-yellow-metal-says-world-gold-council Worth reading, for me i would still rather have a bitcoin over gold. Because what if you lost your troy ounces of Au? Sure, having gold is cool but it is easier to lose. While in bitcoin you can store it and write down your account infos on sheet of paper or store it in your phone memory.
HumberRolls Posted February 21, 2019 #6 Posted February 21, 2019 Well, bitcoin does not have to say an endorsement of its price which at any moment can end its life of bitcoin (bursting the bubble) and gold is backed by its price at the world level by governments, miners and investors
wry Posted February 22, 2019 Author #7 Posted February 22, 2019 13 hours ago, wilbur said: Sure, having gold is cool If BTC moons again, and I have some, I will trade a little bit of it for some gold coins. I think some of them are just beautiful and worth the risk of losing. However, I'm not sure that I would get that many, BTC just seems like such an amazing, censorproof decentralized payment system, while gold is just pretty.
williamshennie9 Posted February 22, 2019 #8 Posted February 22, 2019 On 2/20/2019 at 9:50 PM, Kate said: I would rather have hold a bitcoin at first since I believe the whalers are letting enough investprs buy at first and then they gonna make the price rise high. I fully agree with you. The whales set the prices and and buy and sell at prices they want. This is how they make so much money - mostly at the expense of ordinary people investing in bitcoin.
jackkid Posted March 2, 2019 #9 Posted March 2, 2019 Bitcoin and Gold. This war has not ended yet. Gold is the physical asset and Bitcoin is the real asset on the internet. I think gold is still safer than Bitcoin
CaptainLorca Posted March 2, 2019 #10 Posted March 2, 2019 On 2/20/2019 at 7:34 PM, wry said: Most Bitcoin fans know that the rules a currency must meet is a store of value, a unit of account and a means of exchange. When Bitcoin was soaring its critics said that its high fees kept it from being a means of exchange. To be fair, they may have had a point though improvements are happening here. However, its deflationary nature (only 21 million coins, EVER) have lead many, including myself, to think it may excel as a store of value. No one seems too fixated on unit of account, things like the USD seem to have a lock on that. Anyway, the store of value argument has people frequently comparing Bitcoin to electronic gold, since it is rare and held electronically. I like this metaphor, as do people like Elon Musk (see link below) especially since Bitcoin is easier to ship and store than gold. Given that Musk helped co found Paypal, his insight might be worth considering. However, also fueling this debate, today the World Gold Council weighted in and said Bitcoin was not a substitute for gold. They argue it is too volatile (they may have a point here as they had a cool, but not up to date, graphic) and too thinly traded in comparison to gold to be a real alternative for it. Of course, I'm not sure what else they would say, it's not like they are going to say, yep, game over man, gold's days are done! Plus it's still early in the life of Bitcoin as an asset. It's amazing it's gone from nothing to a $2 billion traded market every day. Something that even the World Gold Council has to admit. So anyway, with Bitcoin trading around $3900 USD, that's worth about 3 troy ounces of gold. Which would you rather have, one Bitcoin or three ounces of gold coins of your choice? Musk on Bitcoin: https://www.marketwatch.com/story/elon-musk-bitcoin-is-brilliant-but-its-not-for-tesla-2019-02-20?mod=hp_markets World Gold Council on Bitcoin: https://www.coindesk.com/cryptos-not-a-substitute-for-the-yellow-metal-says-world-gold-council Of COURSE they say it’s not as cool as gold. What a surprise. It’s like McDonald’s saying the Big King is not and cool as the Big Mac. But I agree partly. It doesn’t have the volatility like gold... but as long as people are using it and giving it some value, it’s worth it. if you look at BTC like gold, gold seems to be pretty oldschool or not?
Kate Posted March 4, 2019 #11 Posted March 4, 2019 On 2/22/2019 at 8:06 AM, williamshennie9 said: I fully agree with you. The whales set the prices and and buy and sell at prices they want. This is how they make so much money - mostly at the expense of ordinary people investing in bitcoin. Yup. Whalers do control the prices of the market but one thing i can't understand is why haven't they made the price of Bitcoin rise ? That is my main concern with it.
williamshennie9 Posted March 5, 2019 #12 Posted March 5, 2019 22 hours ago, Kate said: Yup. Whalers do control the prices of the market but one thing i can't understand is why haven't they made the price of Bitcoin rise ? That is my main concern with it. They have obviously sold off most of their bitcoins, or they are driving the price down so that they can create a massive buy order, pushing the price up and then selling. Maybe that's why it went all the way past $4000 a few days ago, and then quickly back down to $3700.
skillex Posted March 5, 2019 #13 Posted March 5, 2019 Interesting topic relating to my topic also a week ago. You are right, its still really early for Bitcoin to be considered an asset now and its really that volatile to be accepted as gold's digital alternative. Although Bitcoin has its own uniqueness also that makes it valuable. I believe there comes a time where bitcoin's price will be more stable and go up just like the golds path.
blueprints Posted March 5, 2019 #14 Posted March 5, 2019 Idk id say hold gold. Just because i feel gold is more secure, and would at minimum protect you from inflation. bitcoin still carries a very big and unpredictable risk. its not like holding a security
bmg Posted March 23, 2019 #15 Posted March 23, 2019 Of course I would choose to hold bitcoin. I think it will rise again so it would be the better choice for me.
lolland2k Posted April 13, 2019 #16 Posted April 13, 2019 of course I would easier to save bitcoin than gold I think this moment that bitcoin is safer than saving gold under your bed ...
blueprints Posted April 13, 2019 #17 Posted April 13, 2019 I would rather have bitcoin simply because i can use bitcoin for more things then i can with gold. Mainly gambling, gambling, and gambling. Gold and bitcoin though are very different i mean gold is a rare metal and bitcoin is just a bunch of numbers. I think gold should have more value or worth then btc.
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