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Gold vs. Bitcoin

derrybderryb Posts: 36,209 ✭✭✭✭✭
edited March 27, 2024 2:49PM in Precious Metals

Comparing the Top 10 Monetary Characteristics

verdict: Bitcoin wins 6 to 4.

Give Me Liberty or Give Me Debt

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    nagsnags Posts: 793 ✭✭✭✭

    I don't think you read the article. There were 10 metrics discussed, and Bitcoin was favored in 6 or the 10.

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    derrybderryb Posts: 36,209 ✭✭✭✭✭
    edited March 27, 2024 2:50PM

    @nags said:
    I don't think you read the article. There were 10 metrics discussed, and Bitcoin was favored in 6 or the 10.

    I read it, just got it backwards on the outcome. Corrected.

    Give Me Liberty or Give Me Debt

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    blitzdudeblitzdude Posts: 5,460 ✭✭✭✭✭

    Bulgaria says forget the gold and buy the bitcoins. Wonder if the author is the decedent of one of the 1637 Dutchman selling tulip bulbs? You can't make this stuff up. LOL

    The whole worlds off its rocker, buy Gold™.

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    derrybderryb Posts: 36,209 ✭✭✭✭✭

    @blitzdude said:
    Bulgaria says forget the gold and buy the bitcoins. Wonder if the author is the decedent of one of the 1637 Dutchman selling tulip bulbs? You can't make this stuff up. LOL

    you seem to have no problem making stuff up.

    Give Me Liberty or Give Me Debt

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    My gold will exist in 10 years. Can't say the same about bitcoin.

    The substantial truth doctrine is an important defense in defamation law that allows individuals to avoid liability if the gist of their statement was true.

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    jmski52jmski52 Posts: 22,380 ✭✭✭✭✭

    Bitcoin has some vulnerabilities that Doug Casey doesn't address:

    1) The exchanges can be hacked and/or grossly mismanaged.

    2) The US government is monitoring bitcoin users for tax purposes and many users are attempting to avoid taxation.

    3) The central banks will eventually decide to compete against bitcoin and will find ways to torpedo it.

    4) Internet outages (whether intentional or not) or implementation of a "kill switch".

    We really don't have a handle on the real degree of privacy that bitcoin offers, do we?

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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    derrybderryb Posts: 36,209 ✭✭✭✭✭

    @RiveraFamilyCollect said:
    My gold will exist in 10 years. Can't say the same about bitcoin.

    As will the "cheaper" gold you bought with the profits from bitcoin.

    Give Me Liberty or Give Me Debt

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    TwoSides2aCoinTwoSides2aCoin Posts: 43,849 ✭✭✭✭✭
    edited March 27, 2024 9:28PM

    People trade with me using gold, silver,,other coins, cash, checks and credit. I think people who hold Bitcoin have very white knuckles.

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    stevekstevek Posts: 27,749 ✭✭✭✭✭

    Bitcoin when it first came about and was rising in price, reminded me of a pyramid scheme, and it still does.

    As of this post it's around 70k per coin. There's all sorts of predictions out there regarding Bitcoin's eventual price. Whatever that top price may turn out to be, I'd sure hate to be holding Bitcoin at that price if the pyramid does ever happen to collapse.

    Perhaps it won't collapse. Maybe Bitcoin isn't technically a pyramid scheme. This is uncharted waters and nobody knows for sure. However this I do know, if it is a pyramid scheme, all pyramid schemes eventually do collapse.

    As a hedge against inflation which is a traditional description for gold, and as a store of value especially in troubled times, I'm choosing gold over Bitcoin.

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    pmbugpmbug Posts: 75 ✭✭

    I wrote an article a couple of months ago on this topic (at the forest level; not the tree level):

    https://www.pmbug.com/threads/the-seventh-characteristic-of-money.6960/

    Yelling at clouds on pmbug.com

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    tincuptincup Posts: 4,780 ✭✭✭✭✭

    Not sure what bitcoin may be doing today.... not a fan of it. But gold seems to have fired off some boosters... taking quite a spike up today , new record? But, will it have legs??

    ----- kj
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    derrybderryb Posts: 36,209 ✭✭✭✭✭

    Gold is a good hedge/insurance policy against the dollar. Bitcoin and Ethereum provide speculative opportunity.

    Give Me Liberty or Give Me Debt

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    DoubleEagle59DoubleEagle59 Posts: 8,200 ✭✭✭✭✭

    The tortoise and the hare.

    Bitcoin will absolutely crush gold in the present and near future.

    But at the very end (who knows when?), gold will certainly still win the race and Bitcoin will be worth nothing.

    This 64 year old luddite cannot invest in Bitcoin at all......I just can't do it!

    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
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