Post
Topic
Board Economics
Re: Is now a good time to buy Gold?
by
Abiky
on 24/01/2025, 00:54:24 UTC
Why? In 10 years the price may be $5000 (or not), but realistically inflation will again take most of the profit. Compared to BTC, gold is a much worse choice because it exists in very large quantities and it is difficult to say exactly how much - while on the other hand we have the exact number of BTC that will ever exist with a clearly defined protocol according to which it will come into circulation.

Don't get me wrong, it's good to have some gold on the side as insurance in case something bad happens globally with the internet - because without the internet, BTC would very quickly become worthless.

Yeah, I know. Bitcoin usually outperforms Gold in price. But the latter is still a good choice. Especially when you want to build up your wealth at a "slow and steady" pace. The only reason I want to accumulate Gold is because it can be used offline (in emergency situations when there's no power, Internet, etc.). That's not possible with Bitcoin (although you can hand in a paper wallet or a physical bearer wallet (like OpenDime and Tangem) to pay for something in BTC, transaction finality still requires Internet access). I'm taking my chances by buying and holding both Gold and BTC for the long term. A wise decision to build generational wealth, imo.