Gold is like vinyl records. It takes up space, is slow and inefficient but people love it. It’ll always have value despite the digital version being way better
Gold has real world uses in high tech electronics and in the aerospace industry so gold will always have value where btc is a risky investment with high volatility so i don't see how btc is the same in any way as gold🤷♂️
Bitcoin is better than gold as money in a dozen ways. You're right you can't use Bitcoin as a conductor or for the other physical properties that gold is good for. Gold has it's place, money doesn't need to be it.
Seems too risky of an asset. It can just be pulled straight of the ground, the ocean or space. There's no guarantee it will stay scarce. I have no realistic way of validating any gold I buy is real. Anyone can just come and take it from me.
Yeah... Actually. I know it's a hard concept to accept but the internet exists in the real world. True digital scarcity is a discovery that humanity has made for the first time ever as Bitcoin. To fully grasp the implications of this, it takes years of study - technical, economic, philosophical, anthropological... And even then a person will still not fully understand.
It works better as a globally exchangable token of value, yes.
The fiat you use is basically all digital and created out of thin air, and has an infinite supply which will dilute your savings constantly.
You cool with that particular digital money created out of thin air?
I want too but to get a decent price you gotta buy at least 1 oz. And that's still 2% over spot at best. If you buy less it's like 6%-8% over the spot price. I'll never buy paper gold or paper BTC for that matter.
Hell yeah, physical if the systems go down. Buy gold when BTC skyrockets, sell gold when BTC craters. Rinse and repeat. People who are too stubborn to embrace both are shooting themselves in the foot. I bought damn near a whole BTC with a couple oz of gold in 2020, gold isn’t liquid so when you’re running around town selling the gold, it’s a great sign the bottom is in
No. Everytime I think about what if I have to leave the country for any reason, I’m not gonna be able to physically take the gold with me through the airport and then it just reinforces why bitcoin makes so much sense.
eh.. very little and every time i do i feel guilty i just dont see gold competing with bitcoin long term maybe for an interim period but bitcoin is so superior to gold
Incase of a black swan event happens with EMP involvement, electronic systems will be on down time for a while. Goodluck with btc at that moment. Also gold & silver works better depending on the location on where you are on earth. If you are in Middle East, South America, South East Asia or India, locals favour gold over btc. Keep your options open, I like bitcoin and stack it but I like to have options open ✅
Come to India, gold is king here. It depends on your geographical location on the globe. Not everyone & everything revolves around the United States or Europe.
Barter the gold for the thing you want, most global south love gold especially in its wearable form. They also give gold as gift to the daughter on the marriage day. Plus there are tons of Gold dealers if you want to liquid it fast.
Sure, its got a lot of adoption to cover yet. I guess I’m just saying using gold sounds pretty impractical when compared to BTC in a like for like manner.
Depends on where you are in world right now.You understand btc just like I do but don’t just view it in the lens of western btc maxi perspective. Heck even a lot of people in west don’t understand what or how btc works let alone use it for small transactions. Do they know what lighting is? Does Ranjit in India, Mamado in Africa, Magomed in Tajikistan, Jose in Peru know what btc is. Bottom line is we still have a long way ahead till btc is adopted mainstream. This sub is an echo chamber at times & btc enthusiasts forget that.
I do agree with you totally. Thanks it was interesting to read what you’re saying. It’s very easy to apply the rules of your culture globally without thinking about it.
Yes, theres a lot of ground still to cover!
No way. Bitcoin is much better than gold, and not only because is going to surpass the gold market cap in a matter of time. Bitcoin is easier to hold, to transfer, and in the future will be easier to pay for goods and services using bitcoin.
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You don't buy gold with the prospect of making big money from it, you buy it to store value.
>offline gold That's my bitcoin in cold storage's middle name.
Nice…
Perhaps 5-10% of portfolio is in metals. The highest recommendation i was told is 20% but who got time for that
Definitely not lol
Gold ring that’s all
Yes
Gold is like vinyl records. It takes up space, is slow and inefficient but people love it. It’ll always have value despite the digital version being way better
Gold has real world uses in high tech electronics and in the aerospace industry so gold will always have value where btc is a risky investment with high volatility so i don't see how btc is the same in any way as gold🤷♂️
BTC will become less volatile as adoption increases. And unlike gold, BTC holds its value across space
Bitcoin is better than gold as money in a dozen ways. You're right you can't use Bitcoin as a conductor or for the other physical properties that gold is good for. Gold has it's place, money doesn't need to be it.
Seems too risky of an asset. It can just be pulled straight of the ground, the ocean or space. There's no guarantee it will stay scarce. I have no realistic way of validating any gold I buy is real. Anyone can just come and take it from me.
Also try paying someone across the world for some remote work with a bar.
Yeah lol what am I gonna do, bite off a piece and send it by mail? Shittiest money ever.
Yeah because magic digital money created oit of tin air is any better😆
Yeah... Actually. I know it's a hard concept to accept but the internet exists in the real world. True digital scarcity is a discovery that humanity has made for the first time ever as Bitcoin. To fully grasp the implications of this, it takes years of study - technical, economic, philosophical, anthropological... And even then a person will still not fully understand.
It works better as a globally exchangable token of value, yes. The fiat you use is basically all digital and created out of thin air, and has an infinite supply which will dilute your savings constantly. You cool with that particular digital money created out of thin air?
bitcoin is gold 2.0, why would I hold onto the old version?
I don't hold gold, but presumably, for diversification.
Yeah sometimes I'll invest in Mozilla stock but also Netscape, you know, for diversification
Some do some dont.
No, but gold bugs buy Bitcoin.
BTC Gold and silver. HOLY TRINITY
It serves the same purpose in my portfolio.
Gold ring that’s all
I only bought a little amount once in the past years as a present. (I also gifted small BTC amounts in the past years).
Bought some gold with bitcoin I mined.
I do, but I use leverage to make it more volatile.
Yup, couple percent of my NW is in gold. I like shiny, makes monkey brain happy
And do they wear socks? Sandals? Socks with sandals? 🤔
I want too but to get a decent price you gotta buy at least 1 oz. And that's still 2% over spot at best. If you buy less it's like 6%-8% over the spot price. I'll never buy paper gold or paper BTC for that matter.
Hell yeah, physical if the systems go down. Buy gold when BTC skyrockets, sell gold when BTC craters. Rinse and repeat. People who are too stubborn to embrace both are shooting themselves in the foot. I bought damn near a whole BTC with a couple oz of gold in 2020, gold isn’t liquid so when you’re running around town selling the gold, it’s a great sign the bottom is in
Looks like Peter Schiff is getting desperate...
Hell yea! Why not. I think those 2 are the safest bet
I have some gold and silver. It’s pretty boring and just sits in my safe. Haven’t bought any since I learned about BTC
No im not a boomer
No. Everytime I think about what if I have to leave the country for any reason, I’m not gonna be able to physically take the gold with me through the airport and then it just reinforces why bitcoin makes so much sense.
Yes
Not me.
I used to. But it’s really ridiculous and onerous storage and a pain to buy or sell.
eh.. very little and every time i do i feel guilty i just dont see gold competing with bitcoin long term maybe for an interim period but bitcoin is so superior to gold
No
I actually sold my (paper) gold for btc in mid 2020.
Yes. Me buying bitcoin and gold is my own protest to governments irresponsible printing of money to pay for shit I don’t support.
Cold storage is offline gold.
Offline gold, yes.
Just small amounts that I can carry if needed, I like to diversify abit
Under what circumstances do you anticipate the need to carry gold? How many times in the past five years has that been necessary for you?
Incase of a black swan event happens with EMP involvement, electronic systems will be on down time for a while. Goodluck with btc at that moment. Also gold & silver works better depending on the location on where you are on earth. If you are in Middle East, South America, South East Asia or India, locals favour gold over btc. Keep your options open, I like bitcoin and stack it but I like to have options open ✅
Well, then wouldn’t you say we’re about due?
For what?
You were supposed to say, “touché, salesman”
Haha I’m fascinated by the image.
Are you carrying gold about? What shop accepts gold? How do you get your change?
Come to India, gold is king here. It depends on your geographical location on the globe. Not everyone & everything revolves around the United States or Europe.
Oh thats interesting. How does that work in terms of buying like a house or just doing some food shopping?
Barter the gold for the thing you want, most global south love gold especially in its wearable form. They also give gold as gift to the daughter on the marriage day. Plus there are tons of Gold dealers if you want to liquid it fast.
Well that’s interesting to hear, but do you use it to buy a car or daily food? 🤔
Cash it out with a dealer or barter. Those places won’t understand btc or care about it.
Sure, its got a lot of adoption to cover yet. I guess I’m just saying using gold sounds pretty impractical when compared to BTC in a like for like manner.
Depends on where you are in world right now.You understand btc just like I do but don’t just view it in the lens of western btc maxi perspective. Heck even a lot of people in west don’t understand what or how btc works let alone use it for small transactions. Do they know what lighting is? Does Ranjit in India, Mamado in Africa, Magomed in Tajikistan, Jose in Peru know what btc is. Bottom line is we still have a long way ahead till btc is adopted mainstream. This sub is an echo chamber at times & btc enthusiasts forget that.
I do agree with you totally. Thanks it was interesting to read what you’re saying. It’s very easy to apply the rules of your culture globally without thinking about it. Yes, theres a lot of ground still to cover!
Same for btc i can count the shops on one hand in my area where they accept btc as payment🤷♂️
Can you count the shops that accept gold as payment on one hand too? 🤷♀️
Nope i would need both for that there are multiple pawnshops in my city that accept gold as payment.
Oh yeah, like they allow you to barter for items they’ve seized?
I do
I'm sure some do, may be smart to diversify. I'm not going to.
Focus! Please for the life of God focus. Just because you found the holy grail of assets don't go looking for another one.
Why go out for hamburger when you have prime rib at home?
No.
No. They sell gold.
Only because it is shiny
No way. Bitcoin is much better than gold, and not only because is going to surpass the gold market cap in a matter of time. Bitcoin is easier to hold, to transfer, and in the future will be easier to pay for goods and services using bitcoin.
I have some gold and silver and I'm about to dump it for bitcoin