Why would I but something intangible like Bitcoin when I can buy something tangible like a gold coin? i.e. am I assured of getting my money back when I want to sell my Bitcoins? (I give my age away - stamps had value in my day, but there is no value now - nobody wants them anymore - do you think that could happen to Bitcoin?)
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HavocXphere
Honorary Master
Depends on what you aim to achieve.
Gold is more stable. Bitcoin has a better chance of gaining value (I think so anyway).
BC has negatives in terms of acceptability. In order for anything to have value...it needs worldwide acceptability by markets, sectors, industry and beyond the "clicks" of cyberspace. If I have to trade a BC in a market of 10...in which 1 trader accepts it. ...it isn't valuable. Value is driven by perception. Until mainstream financiers and economists accept cryptocurrency....I will only assign value to it in a niche market. Bottom line. People are creatures of habit. ..if I cannot feel, smell, taste or touch it. ..I will ignore it.
Corelli
Executive Member
Bitcoin is like those coin shops
They try sell you coins which will be valued one day but the problem is the banks arent interested in bitcoins as they carry a terrible risk. They arent guaranteed if stolen and no one will insure you for it unlike the coins. So if someone hacks the exchange you will loose everything. At least with krugerrands you can get them insured and insurance pays out.
The banks are interested in blockchain which is behind the coins, but the coins themself are useless to them.
They are more a ponzi scheme for now.
They try sell you coins which will be valued one day but the problem is the banks arent interested in bitcoins as they carry a terrible risk. They arent guaranteed if stolen and no one will insure you for it unlike the coins. So if someone hacks the exchange you will loose everything. At least with krugerrands you can get them insured and insurance pays out.
The banks are interested in blockchain which is behind the coins, but the coins themself are useless to them.
They are more a ponzi scheme for now.
its more an issue of politics, the US would not be too happy to forego its status as the only country in the world that can print both its own and the global reserve currency.
as I've said in previous threads, I will only sit up and take note once oil and gold is priced in bitcoin
PC Help & Design
Active Member
If you buy gold though, make sure you buy something that you physically get. Otherwise it is just as unsure as Bitcoins with getting a paper saying you own gold.
The other thing, like HavocXphere asked is what do you want to achieve. Any currency could do depending on what your aim is. With PayPal you can 'own' money in Euros or US Dollars.
The problem with owning gold coins is... where do you keep them (safe)
The other thing, like HavocXphere asked is what do you want to achieve. Any currency could do depending on what your aim is. With PayPal you can 'own' money in Euros or US Dollars.
The problem with owning gold coins is... where do you keep them (safe)
Napalm2880
Expert Member
koeksGHT
Dealer
Safety deposit box with FNB
Randburg branch.
SweetFennyAdams
Expert Member
He who has the GOLD, makes the rules.
Tangible gold is King, forget the phoney bits and bytes fiat currency.
One EMP burst over your city and all your fantasy bitcoin is gone.
Tangible gold is King, forget the phoney bits and bytes fiat currency.
One EMP burst over your city and all your fantasy bitcoin is gone.
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I think if you have an EMP burst in your city, the nuclear blast that follows the EMP pulse will melt the gold as well
As thats the only thing that will cause an emp burst throughout a whole city.To the OP, both bitcoin and gold are pretty valueless beyond that which is perceived. Some cave dwellers wont have the same perception you have and wont value bitcoin, and people like me, dont value gold. I can at least easily spend my bitcoin when I want without having to mission to convert it. I can carry huge amounts of it in my pocket, another thing you cant do with gold. When countries have conflict, bitcoin goes up faster than gold. Both have their pro`s and cons but each are basically valueless beyond their perception.
When people ask me this question, my response in real life is always to diversify your risk, so I recommend you get both. Both have advantages that the other cant do. But like gold, bitcoins are a dumb investment and should be used more just for currency storage or movement.
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koeksGHT
Dealer
It's called online backups. One nuke and you are gonna have a hard time getting all the gold back too. I can travel through an airport with trillions, You can't as easy with Gold..