Why Gold lovers can't understand that Bitcoin is better for digital age?
I came across this article buy gold lover:
"No, Bitcoin Isn't Going to Replace Gold"
http://social.fool.com/blog/43682794799?frpp_id=ZBStLnkdFbEmailFeedTenStocks&frpp_id=ZBStLnkdFbEmailFeedTenStocks&aff=71511089&frfi_id=ZBStLnkdFbEmailFeedTenStocks
Some arguments in defense of gold are sick.
My response is very obvious - Bitcoin is better for digital age and there are some reasons why:
- We are living in digital age and bitcoin will be an important part of if it as well as other crypto assets.
- Instant exchange of BTC to fiat.You can exchange your BTC in fiat just in seconds.
- Spend Bitcoin where you want with prepaid Bitcoin card.
- New generation will definitely use Bitcoin and other cryptocurrencies just in their apps.
What are the main disadvantages of gold and other precious metals?
- You can't exchange physical gold or silver instantly. You need to have certificate of authenticity proving the quality of gold or silver.
- Physical gold is hard to store safely. You need additional fees per year to keep it safe.
- With gold you can build only jewelry and with Bitcoin you can build all kind of disruptive digital staff.
If you have some physical gold it is not so easy to exchange it because you must have certificate and if you don't, you are wasting your time.
Summa summarum: gold is going to stay as classical store of value but Bitcoin is much better asset designed for digital age.
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STOPI can't really agree with this since both assets are usually bought for completely different reasons.
No one buys gold to exchange it on the short term for anything else.
Gold is a long-term asset you usually buy due to the stability of the market.
The market of bitcoins is growing strongly but no one can tell you how it will look like in a year or even a month.
Nice you can't agree. I like to discuss. Actually, gold is as speculative as Bitcoin though it is regarded as safe heaven. Of course governments and very rich people (billionaires) are holding gold as hedge but real wealth comes from speculation and gold is involved here as nay other asset. Now to buy gold is not a very good idea as prices very likely will go down. It is not at bottom, so you must wait and wait again to sell in bubble. With Bitcoin we have much more potential as was shown by its trading history (only 8 years from zero to ~5000). In long term BTC has much more to offer than gold has if you are ordinary man.
Like I said, yes you can await a 100% or 1000% gain in a few years, but you can also await a 90% loss, as for now nothing is sure. Sure gold involves a lot of speculation but still, in 100 years from now (if they don't discover a lot of gold on mars) gold won't have changed much, while bitcoin might not even exist anymore