Gold vs Bitcoin

[Anonymous No.23862413]

Boomer vs Millenials: The Argument. Go.
Continued from >>23841986

[Anonymous No.23862455]

>>23862413
I like this one better

[Anonymous No.23862484]

>>23862455
Making one sided cases make you look dishonest and weaken your arguments

[Anonymous No.23862499]

>>23862413
Gold is a store of value, bitcoin is an investment

[Anonymous No.23862675]

>>23862413
Gold has user anonymity as well probably more then bitcoin

[Anonymous No.23862692]

>>23862499
Bitcoin is a store of value, Gold is a rock

[Anonymous No.23862693]

>>23862413
This exact question was part of my bachelor thesis back in 2018. I’m not quoting it because it got published and I would doxx myself, but the answer goes something like this:
Gold works as a safe haven asset for your portfolio and decreases portfolio standard deviation.
Bitcoin (crypto in general) might work as a meager hedge against stock market downturns but increases standard deviation tremendously. Therefore, depending on your risk appetite, you should decide which one you prefer more as an addition to your portfolio.
Even then, precious metals or cryptocurrencies shouldn’t make up more than 10% of your portfolio. The best long-term prospects are given with stocks and bonds.

[Anonymous No.23863049]

>>23862484
well if I were being brutally honest... I'd tell the stupid normie about my massive gains, whip my 7.25 inch cock out and slap him in the face with it repeatedly while laughing..

[Anonymous No.23863440]

>>23862413
gold is only physical, and is good
bitcoin is only digital, and is good
digital is growing and bitcoin value is derived from the metcalfe's law

case closed

[Anonymous No.23863445]

>>23862413
Bitcoin is as replaceable as Myspace, Friendster, or any other piece of code with the next iteration and hype. Until humanity can synthesize elements, it's a novelty.

[Anonymous No.23863594]

>>23863445
Just because old tech fucked up doesn't matter that first mover advantage isn't real. MySpace COULD have been Facebook, but they failed to realize the potential. Facebook Could have been replaced by something else but the network effect is too big now.
Bitcoin is still a growing network and is improved on so as long as that happens it can maintain the first mover advantage. Facebook would have never made it if MySpace kept improving and expanding. Don't believe you can equate one thing with the other. Our history is dynamic and changing, we need to make smart decisions if we wanna bet on the right horse

[Anonymous No.23863656]

>>23863445
you're comparing a business/website with a protocol
this is retarded but common for computer illiterates
protocols evolve, they're not replaced, how does replacing tcp/ip and http in 2020 sounds like?
same for popular programming languages

[Anonymous No.23863683]

If you can't handle watching your life savings violently whip around several hundred percent then just commit to being a wageslave fucking loser because that's all pussies ever become.

[Anonymous No.23863808]

>>23862413
Can we drop "Bitcoin" and change it "crypto" instead? I feel like people call the entire cryptocurrency ecosystem as "Bitcoin" [brain freeze, forgot how to write my entire argument]

[Anonymous No.23863835]

>>23863808
You're right there's so much potential and it isn't adequately captured when people just say "Bitcoin" and believe that's the end of it.

[Anonymous No.23863959]

>>23862413
Stupid argument at this point. Hold some precious metals, hold some btc/crypto...to whatever extent you believe in each. Problem solved.

[Anonymous No.23864040]

>>23862693
real returns on equities are going to 0 in the long-term

[Anonymous No.23864082]

>>23862413
"Could be replaced by another crypto", they have been saying this for 7 years. it wont happen.

[Anonymous No.23864205]

>>23864040
> the last 500 years of the stock market gave yielded 0 real return

[Anonymous No.23864361]

>>23862413
just own both, it's not difficult unless you have only like, $20 per month to invest

[Anonymous No.23864419]

btc does every single thing gold does but better. end of story.
If anyone can tell me one benefit gold has over bitcoin i send you 100 usdc
(being too technologically incompetent to use btc does not count)

[Anonymous No.23864481]

>>23864419
Bitcoin is dependent on electricity and trackable. Donate the 100 retard

[Anonymous No.23865421]

>>23864481
>dependent on electricity
nope. i can broadcast a transaction hashed by pen and paper with a ham radio powered by solar or a crank.
>trackable
if you please you can purchase btc with cash then it is effectively "untrackable"

[Anonymous No.23865506]

>>23864419

Gold is shiny and you can make electronics and jewellery out of it.

[Anonymous No.23865524]

>>23862413
Why is "Extremely Volatile" a con? Wouldn't extreme volatility be a sign of a healthy market?

[Anonymous No.23865588]

>>23862413
>larger market cap
>pro
This graphic was made by an XRP schizo

[Anonymous No.23865863]

>>23864419
>gold can be jewellery
>gold can be conductor
>gold can be shiny protector against corrosion
>gold can be held in my hand
>gold can decorate my stairs

?

[Anonymous No.23865941]

>>23865863
>muh shiny objects
nigger tier
>conductor
so purchase gold as an industrial commodity. This is out of scope. Either way silver would be better for the job
>shiny
80 iq nigger tier
>gold can be held in my hand
70 iq literal retard tier
>gold can decorate my stairs
again "muh shiny" nigger tier
congrats on this you are either a literal retard or a nigger.

[Anonymous No.23865990]

>>23865863
use for goods and industry is a bad thing for a money, because it makes it subject to many other factor that affects demands, it can go up or down depending on market uses and discoveries
being only physical (hold in hand) is not an advantage
all that remains is that it's shiny
>muh shiny rocks

[Anonymous No.23866289]

>>23865990
The shininess attribute has all the market problems you mentioned with industrial use.

[Anonymous No.23866385]

>>23862455
Gold is as decentralized as it gets, also being government issued is a bad thing
>Not a single word about bitcoin just being information that you cant hold

[Anonymous No.23866390]

>>23866289
not necessarily, many things that looks good can have no value, like quartz, other shiny metals, plastic shaped like a gem, common gemstones, etc
same as scarcity, something very rare or unique can have no value, gold has value now because it has been culturally considered as valuable for a long time, but that can change, and become worthless like when it wasn't considered valuable long ago

[Anonymous No.23866493]

>>23866390
Things with utility can also have close to no value because of supply. Sand is useful for industry. The added value to the plastic shaped like a gem is the attractive shininess. The shininess in market terms is like utility.

[Anonymous No.23866610]

>>23866493
yes but in the case of gold it's an extremely minor factor of its value, close to nothing

[Anonymous No.23866862]

>>23866385
>Gold is as decentralized as it gets
Hahahahahahahhahha

How?

Hahahhahhahaha

[Anonymous No.23866872]

>>23862693
>but increases standard deviation tremendously
Protip: Just buy less in this case. Problem solved.

[Anonymous No.23866985]

>>23862499
Gold is useless and terrible as an asset to buy, verify, trust, hold, transact.

Bitcoin is superior is every conceptual way and practical. In a world where bitcoin exists and we have computer networks gold is simply obsolete. It’s like insisting we use seashells

[Anonymous No.23867075]

>>23866862
A multiple sun mining network with no financial interests or agency mined it by brute forcing a statistical anomaly in the nature of reality and then airdropped it on multiple planets.

[Anonymous No.23867121]

>>23866985
what keeps mw from creating my new crypto(like so many of the other non bitcoin cryptos), and doing this to infinity? this is the only real issue I have with crypto

[Anonymous No.23867134]

>>23867121
me*

[Anonymous No.23867150]

>>23867075
Right but you need a company to sell it to you and verify it for you and should ever need to transact in it you need a third party to verify and secure the gold and transaction for both parties.

Unless you have a chemistry set at home you have no idea what you have

[Anonymous No.23867154]

>>23865421
Based. Cept it costs like $3 to send 500 usdc. That sucks asshole

[Anonymous No.23867207]

>>23867121
1) Network effect
2) Adoption rates matter
3) 21 million cap on bitcoin
4) You are not smarter than MicroStrategy who recently invested their entire treasury ($700 million), Square ($50 million), Stanley Drunkenmiller, Paul Tudor Jones, Paypal, and me.

[Anonymous No.23867222]

>>23867150
If I know how to and want to work on the base layer I can in theory get gold from the ground and have it in my hands without a third party. I can also sell it p2p.
The same is true for BTC but the base layer is more convenient, still almost everyone uses third parties.

[Anonymous No.23867244]

>>23867121
Many have tried and it doesn’t work because of the network effect. You sound very uneducated about bitcoin dude. You cant just replicate the network overnight it would take an enormous amount of investment and marketing. Bitcoin is sufficiently close to the perfect money technology that there is no room or need or easy way for better newer cryptos to replace it. Bitcoin is destiny to be digital
Gold. It’s been invented and its now a thing on its own. Other cryptos will be fit for their purpose(payments, defi, governance, whatever) bitcoin is already fit for purpose and is the first mover and due to network effect nearly impossible to dislodge.

[Anonymous No.23867262]

>>23862413
Capital controls will prevent you from leaving a country with precious metals in hand (extracting value from a country in crisis e.g. hyperinflation).
Argument over.

[Anonymous No.23867313]

>>23867121
why dont you try and become a billionaire KEK

[Anonymous No.23867769]

>>23867262
And baked in software/hardware in every computer and phone will ensure non-goverment regulated Crypto is banned outside of niche computer nerd communities.
>Imagine big tech eagerly not doing the governments bidding

[Anonymous No.23868077]

>>23867769
I'm afraid you don't understand the game theory in play w/ BTC.
If USA bans it, Russia will allow it.
It's too late to ban BTC.

[Anonymous No.23868360]

>>23868077
I forgot Russia and China were such big free market advocates, let alone have been stacking Bitcoin for years and not say, GOLD. In fact, record inflows of Silver have been making its way into China recently. Something to take note of.

[Anonymous No.23868485]

>>23868360
>I forgot Russia and China were such big free market advocates
They are. Russia is especially invested in free market advocacy as they and their partners are fucking sanctioned.
They're stacking whatever reduces their risk to the dollar including gold and BTC. There's talk of Iran / China doing trade in BTC.

[Anonymous No.23868529]

>>23868360
We are competitors.
You still don't understand game theory AND the amount of $$$ already invested in the protocol.
1) You are not arguing in good faith.
2) You have no skin in the game.

[Anonymous No.23868570]

>>23865421
>nope. i can broadcast a transaction hashed by pen and paper with a ham radio powered by solar or a crank.
2nd time I've seen this today, care to explain how this would work?

[Anonymous No.23868680]

>>23862693
A lot has changed in 2 years. Everyone is looking at Bitcoin as a store of value. If you want to use it as a hedge - then that's icing on the cake. Gold has been used as a store of value whereas Bitcoin is store of value defined. If you could build a store of value bespoke it would be Bitcoin. It's better than gold in all ways, and ways we haven't built yet. That's what people are missing. Gold might 2x. Bitcoin can 100+x.

SPY pays out 10% APY. Look at the stock market now however, where do you go? You think it's any more risky than Bitcoin? Not a chance.

Bonds are out now, obviously that doesn't work anymore. The 60/40 portfolio is dead.

What a lot of people don't understand is just how much the world has changed. Boomers were given many more opportunities in their lifetimes. Annuity streams were feasible, real estate was cheap. Millennial's have a hard time with accumulating wealth now.

[Anonymous No.23868762]

>>23868485
https://www.coindesk.com/iran-amends-law-to-allow-imports-to-be-funded-with-cryptocurrency
>Oct 29, 2020

[Anonymous No.23868782]

>>23868762
>Iran Daily suggested that using bitcoin (BTC, +2.52%) for import payments could help the nation avoid sanctions that impose limits on Iran's access to the dollar.

[Anonymous No.23868833]

>>23868680
There are two systems running and one is outcompeting the other. A normal dollar has no easy yield. A tethered crypto dollar has 15%. BTC has 5% yield and increases in value more than 10% a year.

[Anonymous No.23868884]

oh nononONON

shiffbros we got TOO cocky

[Anonymous No.23868906]

>>23868884
This image needs to be updated.

[Anonymous No.23868919]

>>23866985
Yeah and government offices still use telefax

[Anonymous No.23869109]

>>23868833
It's no longer a debate, it's just getting people up to speed. CBDC's are the writing on the wall. Jerome Powell just talked about Libra and stablecoins to the IMF. Look at the regulations being put in place, the crackdowns on exchanges, "crypto" is being legitimized. Brian Brooks the acting comptroller of the currency just talked about crypto to the senate. Hedge fund managers capitulating one by one. It's a foregone conclusion. Anyone in Bitcoin now and has the discipline to hold, and keep buying even when the price seems astronomical is going to be very happy.

[Anonymous No.23869314]

>>23868077

Governments will issue their own CBDC.

Bitcoin would definitely survive the banning, of course, and once its presently-delusional speculative valuation has been properly adjusted to account for it being relegated to black markets, people will happily jump back in.

[Anonymous No.23869433]

>>23869314
>Bitcoin would definitely survive the banning, of course, and once its presently-delusional speculative valuation...
Response:
>>23868529

[Anonymous No.23869759]

>>23869314
>Governments will issue their own CBDC
Cause that worked so well for Venezuela and them trying to create a petrol based crypto?

[Anonymous No.23869819]

>>23864481
So is a gold bar

[Anonymous No.23869825]

>>23869759
Venezuela is a mismanaged clusterfock that went all in on oil without building a sustainable empire. Apples to oranges.

As for CBDC's, I just heard this yesterday:

https://www.youtube.com/watch?v=IVu8cAiJ6fY

30:29

[Anonymous No.23870076]

>>23869433

Lack of understanding is going to cost you a lot of money. I'm a nice guy so I'll elaborate a little more for the benefit of those reading.

Governments will never, never, never cede control of monetary policy and will go to great lengths to try to make the peons to pay their inflation tax. Hence their desire to shut off escape routes out of fiat. I know what you're thinking: this applies to both gold and crypto.

The difference is that the Goldbugs understand that the government is hostile to gold. They regularly discuss the possibility of confiscation and speculate accordingly. Additionally, gold is not valued as realistically having utility for day to day use (Silverbugs do this and I think they are mistaken), only as a store of value for which the network effect and confidence in it as a value store is peerless. Even Governments implicitly concede this point on gold, as they are ALL acquiring it (cept leafs, lol) as a reserve asset in anticipation of a currency reset in order to maintain their solvency and for use in international settlements. As a store-of-value: it's gold 1000%.

Moonboys, meanwhile, are still laboring under delusions of CBDC being somehow bullish for non-gov crypto. Fren, CBDC is the warning sign that they're about to make their move. You're about to have your "world currency any-day-now" assessment of Bitcoin's use-case harshly corrected. Gov is gonna make it clear that you will not be transacting day to day in anything but THEIR money. Bitcoin will remain as a so-so store of value and a black market currency. It has a use-case, but it's not what you think.

[Anonymous No.23870309]

>>23870076
Moonboys...

Except that this is all inaccurate based on all the metrics we are seeing. Brian Brooks is the newly appointed acting comptroller of the currency, he was previously the chief legal officer at Coinbase. Recently some congress members have sent him letters on how they're annoyed as to how obsessed he is with crypto. Biden's financial team includes Gary Gensler and other crypto-educated minds, this guy is also sympathetic to crypto. He taught an MIT class on Bitcoin you can watch for free. Heath P. Tarbert is now establishing regulations for trading. ETF's will be here next year. Fidelity is already shilling to clients. PayPal equals more legitimacy. Exchanges are being shaken up recently. Look at OKEx. Binance is kicking US users off their global site to their Binance.US website. The US knows they can't fight it so are establishing rules, all of this means that crypto is being legitimized. Bitcoin will be the de facto store of value. No offense to gold, gold would be my #2 - but the relative upside is not even remotely comparable. Get up to speed.

https://www.coindesk.com/biden-confirms-gary-gensler-will-lead-financial-policy-transition-team
https://www.youtube.com/watch?v=3DW7Q-4e5n0&t=6s
https://www.youtube.com/watch?v=FaAEeOys4J4&t=926s

[Anonymous No.23870391]

>>23870076
Now that you are done speculating on what the government is going to do. Here is what they are actually doing, straight from the horses mouth:

https://youtu.be/9XeQFKvojs8?t=3640

Department of Justice:
"Why doesn't the US government just turn off cryptocurrency? Isn't this all just criminals?"

"People don't understand that:
a) That's not something that's possible, but
b) my answer to them is always:
you know people have been committing crime with traditional fiat money for a long time and no one says to ban that. There is this huge psychic disconnect that I just don't get.
Like, okay great, someone uses money to do something bad and no one is talking about banning unhosted wallets and fiat.
That's called CASH.
Right?
That's what cash is between someone's bed. It's an unhosted wallet and criminals do that all the time.
Jessi and I could tell you stories where we had narcotic cases where we would find 200k hidden in someones floorboards.
Afterwards, nobody is like, well we should ban cash so..
It's all a false narrative."

Additionally:
https://www.coindesk.com/kraken-crypto-exchange-secures-bank-charter-under-wyoming-law

[Anonymous No.23870418]

>>23863594
Bitcoin isn't "old tech" and it didn't fuck up. If you think it's a good idea to scale a global network as a giant broadcast domain you are retarded. You get all the disadvantages of a blockchain and still get outcompeted by square, apple pay, visa, etc.
Bitcoiners actually understand this and fought to secure the chain against corporate takeover, preserving the qualities that actually make it valuable in the first place

[Anonymous No.23870771]

>>23870309

>crypto is being legitimized

Lol. This is what I'm talking about. You are not nearly cynical enough.

Custodial wallets are a trap. A giant, obvious one. Crypto users are being lulled into a false sense of security. One day you are gonna find that you can't get your coins out of Coinbase/PayPal etc. anymore. The next day you're going to get an email from them stating that "as part of our efforts to comply with Anti-Money-Laundering laws and agreement with US Department of Justice, blah blah....".

Next you'll get a popup when you login. A "Special Offer" to convert your BTC to FedCoin at a fixed conversion rate. You'll get the same offer the next day, but for less FedCoin this time, and so on. Of course, FedCoin will be inflationary, centralized, and as far from anonymous as possible, but Normies don't know or care what any of that means. It will be safe, accepted everywhere, and have convenient phone wallet apps, with full FDIC protection for all funds, and legal remedy for fraud or hacks.

There will be a stampede out of BTC, ETH... everything. Even the densest Moonboys might finally realize that the government is not amused by their attempted financial coup of King Dollar and is not their buddy.

>>23870391

Have you been under a rock? Government has been waging war on cash for years and they've largely won it. Corona has given them an opportunity to accelerate this and they took it. Crypto is a 10x bigger threat to them, being digital, and deflationary.

[Anonymous No.23870997]

>>23870771
I can't argue with pure cynicism. You ignore points and go straight to speculation. They tried to ban gold too, and liquor. It can't be done and only leads to more demand/arbitrage. Here's what you're not seeing - "they" aren't completely evil. The current system is incredibly disjointed and there is a new wave of people that understand this and have no ill will towards Bitcoin. (As for laundering, these days jurisdictions wants to see transactions on the blockchain - so that point is the opposite of what people think). Bitcoin doesn't change monetary fuckery. Most people don't hedge their money with alternative assets anyways. Inflation is always at their disposal, CBDC's will see this rise exponentially. Behavioral economics.

Not to take too much of a jab but I have the distinct impression you don't want to go through the trouble of selling your gold, annoying isn't it?

[Anonymous No.23871021]

Couldn't you move millions of dollars through the airport with one of those crypto wallets? You can't do that with good or cash

[Anonymous No.23871034]

>>23871021
"Gold"

[Anonymous No.23871362]

>>23870997

>They tried to ban gold too, and liquor. It can't be done and only leads to more demand/arbitrage.

I agree, but they'll try, and it'll be a hell of a short-term gut punch. But as I described, Crypto has much further to get knocked down because of this misplaced optimism. You guys don't seem to see the fist coming your way.

>new wave of people that understand this and have no ill will towards Bitcoin
>Most people don't hedge their money with alternative assets anyways

MMT+UBI will give gov the inflation they want, and then some.

When inflation is 10+% yearly, these 2 things will both change rapidly. People will look for ways out, but the only one gov wants you to take is stocks or real estate. Pump those Boomer Bags, Peon.

>"they" aren't completely evil.

:)

lol, good joke, anon.