Re: Do you still have thoughts of picking Gold over Bitcoin, read this.
I don't see a problem in picking up gold though. You need to understand one things first. Gold is not an investment! It is being used since ages for capital protection. Gold has other uses as well but let's just talk about its main use and that is capital protection. Also gold is extremely liquid which you can sell it at any point of time if you are in need of money. So there no way traditional people will choose bitcoin over gold. Because they prefer peace of mind.
In the other hand, bitcoin is for the aggressive investors who are willing to take risk in the market and also have a good amount of time in hand. That's why mostly millenials use bitcoin for investment. They can take risk and have longer period for investment.
So you see, not all investments are made for profit only! There are different goals for different types of investment. Let's just stop comparing cryptos with gold. It doesn't make sense!
In the other hand, bitcoin is for the aggressive investors who are willing to take risk in the market and also have a good amount of time in hand. That's why mostly millenials use bitcoin for investment. They can take risk and have longer period for investment.
So you see, not all investments are made for profit only! There are different goals for different types of investment. Let's just stop comparing cryptos with gold. It doesn't make sense!
But in terms of liquidation speed, availability, divisibility and mobility gold has zero chance to compete with Bitcoin. If you hold physical gold in your basement, you are by far inferiorly situated in terms of the aforementioned characteristics compared to holding Bitcoin. Now you could argue that nobody holds physical gold, but that is where the analogy of not your keys not your Bitcoin comes into play, and that would be not your physical gold not your gold.
The only comparison now between Gold and Bitcoin is how they are at different ends
of a spectrum. One is old school and has its decorative, technology and medical uses
and is antiquated in terms of investment, the other is a game changer in finance,
investment and technology.
In terms of individual personal aquisition they dont compare well, anyone can
own and hold Bitcoin, where do I buy $45,000 of Gold, How do I store it and where
can I spend it?
Not sure you understood me or just rephrased what I said, but what you said is just what I said!
That's the problem, you can only purchase certificates or any other derivative, but holding physical gold, especially in larger amounts, is totally impractical. The only advantage gold has over Bitcoin is its use cases apart from being a store of value. But even there you could argue that Bitcoin has use cases that go way beyond what Gold could ever achieve. There are still hardcore Gold maximalists there days though who now feel afraid that an algorithmic currency is going to destroy their dream to become rich with precious metals.