Quote from: JayJuanGee on Today at 02:10:30 PM

Quote from: Sayeds56 on Today at 06:32:17 AM

Quote from: JayJuanGee on Today at 03:11:58 AM

It seems to me that bitcoin is going to continue to eat gold's lunch, just as it has done in the past 10 years or more, so on an individual level you likely need to figure out how much to waste your time, energy and value to place it into gold... but whatever, each of us need to decide for ourselves the extent to which we might end up diluting our bitcoin investment into things like gold... I would suggest don't waste your time and money to invest any more than 10% of the value of your bitcoin investment into gold, but hey, you can do what you like.

Your observation is valid that Bitcoin can potentially replace Gold as a store of value gradually in the long run.. However, it is important to note that Gold has been considered as an important asset and hedge against fiat currencies since the dawn of human civilization. Furthermore, a significant potion of world population is unfamiliar with Bitcoin, but they know the value of Gold. In this context, it will take long time before Bitcoin can effectively replace Gold. Therefore, it is a good suggestion to incorporate Gold in our investment portfolio to certain extent, thereby achieving diversification benefits.

Fuck gold.

It is not a good idea to incorporate gold into your investment portfolio.. especially when we are here talking about bitcoin, and are we again going to getting into those nonsense gold versus bitcoin discussions when we are supposed to be talking about bitcoin - and surely there are other threads about that or if not other threads can be made.

Ok... let me bite a bit on this topic. Sure if you are used to gold, and you have some systems to actually interact with gold that you already know, then sure maybe get a bit of exposure to it. Otherwise, you should realize that bitcoin is in about the territory of 1,000x better than gold, so even if it takes 100 or 200 years for bitcoin to actually reach its fair/appropriate price in respects to gold, you should be able to pretty much recognize and appreciate the direction that the whole thing is going (when it comes to gold versus bitcoin and the fact that currently bitcoin is priced about 1/20th of the current market price of gold. which surely we can already see that bitcoin has been closing the gap and has closed the gap a lot over the past 10 years or so - and maybe the first few years of bitcoin's history might not count as much when it comes to having some kind of a monetary starting point), so in that regard, gold remains a BIG ass waste of time, energy and value (and in essence a distraction - and likely a way to help you in terms of your having fun staying poor) to be fucking around with gold - when there is bitcoin.

Another supporting point is that if you consider bitcoin to be a kind of hedge against the whole system in the context of history in which gold was serving that purpose, then bitcoin has largely taken that use case for gold and is about 1,000x better than gold in terms of its verifiability, divisibility, transportability, securability (and cost of security) and even scarcity.

There might be a few use cases in which Gold's physicality is of value, including its industrial and jewlery uses; however, for the most part, when it comes to actual money, physicality and even those other uses cases are both hinderances to actual value. Try to move $20k, or $500k, or $10million or $88 Billion worth of gold, good luck with that in terms of both cost and/or in terms of not getting your gold jacked (which means someone else taking it from you).

Now, like I already said, if you would like to keep around 10% (even though that might be too much) of the value of your bitcoin holdings in physical gold because you are preparing for the Armageddon (which surely is not a very high likelihood event even though March 2020's outrageous liquidation event and even oil going bellow zero likely showed us how fragile some of these traditional pricing systems are), then sure keep something around 10% in gold, even though maybe 1% or 2% would be more prudent.. and may I remind you, there are likely ways that you can diversify your portfolio in assets other than bitcoin (and I am not referring to shitcoins) and those categories are property, equities, bonds (and cash equivalents) and commodities, which actually might include gold in that.. so in the sense of overall portfolio diversification there could be some use for gold, but if you are brand new to investing and you are just building your investment portfolio, then there is likely hardly any reason to have gold in there or anything else beyond bitcoin and cash... you can surely start building your investment/savings portfolio with ONLY bitcoin and cash, and not diversify until you get to some threshold amount, maybe even 30%-50% of your annual income or even some higher amount, such as 1x or 2x of your annual income, and you will need to decide for yourself at what point that diversification is starting to make sense, but there is likely no need to consider diversifying from the start and the extent to which gold might end up coming into any kind of justification for diversification likely is way less than you might have historically considered it to be, especially given some of the already existing dynamics of bitcoin's 1,000x ish superiority to gold in the various money, store of value and inflationary hedge categories that I already mentioned.

Quote from: Odohu on Today at 07:53:53 AM

Quote from: JayJuanGee on Today at 03:11:58 AM

Quote from: Odohu on August 09, 2023, 03:50:34 PM

On the aspect of Bitcoin and Gold, I think both will play a key role in the future. While the later have come of age, the former ia still young and will take some time to fully harness the potential.

It seems to me that bitcoin is going to continue to eat gold's lunch, just as it has done in the past 10 years or more, so on an individual level you likely need to figure out how much to waste your time, energy and value to place it into gold... but whatever, each of us need to decide for ourselves the extent to which we might end up diluting our bitcoin investment into things like gold... I would suggest don't waste your time and money to invest any more than 10% of the value of your bitcoin investment into gold, but hey, you can do what you like.

I never bought Gold neither am I planning to buy now... Like you said, Bitcoin have proven to be a better option. In other words, I feel the era of Gold is gone unless maybe the BRICS nations are able to reinstate the Gold Standard era which I have seen many people pontificating about.

Sounds like a fantasy if you really believe that BRICS nations are going to be able to realistically coordinate a gold standard era sufficient enough in order to overcome the various ways that we already know that gold can be corrupted, and part of it's problem is both its paperization and its physicality, so it is not so easy to force possession of gold, but there are ways to force possession of bitcoin in order to keep the auditability of bitcoin in check. And, sure a lot of BIG institutions are attempting to corrupt bitcoin in the same (and similar) ways as gold has been corrupted, and so they are able to trick people into contracts for their bitcoin in which people cannot get possession of their bitcoin, but so long as people are not entering those kinds of contracts, and either demanding possession of their bitcoin or ongoingly creating systems in which they are not giving up their private keys, then bitcoin remains way more possessable than gold.. and some of those institutions (and probably their clients) that are holding paper bitcoin -- or claiming to have bitcoin that they do not actually have - are likely going to get fucked at some point.

Quote from: Odohu on Today at 07:53:53 AM

Howbeit, even if this happens, Bitcoin will still triumph given the ease of access, ownership,potential, security and many other advantages it hold for the generality of humanity.

Yep.. there are likely going to be ongoing battles on these grounds, but bitcoin remains superior in terms of the power of being able to possess and verify it relatively easy, and likely people are going to continuously have to learn lessons about holding their actual keys and avoiding getting rug pulled by people who either do not hold the bitcoin that they claim or that they are not being honest in terms of ability to access such coins (and in which circumstances, which is still likely going to continue to enforce ideas about the values in regards to who hold the keys and whether the key holders are actually honest players when they are supposed to be holding those keys on behalf of others.. and it seems that one the the best ways to test those who possess the keys, is to demand possession of the coins).

Wow!
Jay you have said it all, bitcoin has a higher use case compared to gold. Bitcoin can be used for payment, Investment, Store of value, Donations and Smart contract so why would I choose gold over bitcoin. Ha ha if money can't buy your love, maybe bitcoin will do.