Gold is simply real wealth and real savings. When you make a return in BTC, stocks, bonds, etc....you are supposed to put a % of those profits into gold and silver so when the dollar implodes you arent fucked and that is how you make it.
Remember the story of the hotel bellcap in weimare republic germany who had 25 ounces of gold saved up. When hyperinflation hit he was able to buy an entire city block with that measly 25 ounces of gold.
The dollar value of gold is meaningless. Did gold all of a sudden become valuable when America was born and the dollar was created? NOPE. So why would you be valuing gold in terms of jew paper dollars? Moreover, it was gold that gave value to the dollar.
The only reason you are buying bitcoin is because the dollar is dying and it is impossible to "make it" today, unironically because gold doesnt back the dollar anymore.
Bitcoin and gold are not competing at all. Bitcoin is a specualtive digital asset that many people buy to beat inflation. On a gold standard you could drive retards to grade school on a bus for a living and "make it" with your wife at home raising your 4 white kids.
What you fuckheads don't understand is that the primary function of money is to MEASURE VALUE. Money is a BAROMETER to measure value. An nothing measures value better than gold. Bitcoin doesnt measure value for shit.
A good weekly salary 100 years ago equaled 1 oz of gold. Today a good weekly salary equals 1 ounce of gold.
Number one function of money is to MEASURE VALUE. Gold does this in spades. Bitcoin fails at this miserably.
Jayden Butler
Gold is shit nobody with a brain and access to information buys into the Gold story, same as with the real estate narrative. Get fucked Boomers. Your ponzis are boring
John Price
Fuck off boomer with your shiny rocks
Brandon Torres
Gold only got popular because of minecraft imo. Problem is it’s quite worthless other than a store of value. Tools made from it mine faster but the tools break a lot quicker and are not good value
Adrian Sullivan
Bitcoin could go to 1 million dollars in price and it wouldnt make gold even 1% less valuable.
Camden Ramirez
The whole fucking point of real money is for it to be a store of value you worthless bangladeshi nigger.
100 years ago a good weekly salary was 20$. 1 oz of gold = 20$. Today that 20$ doesnt even buy you a blowjob from a toothless crackwhore, but that 1 ounce of gold 100 years later still equals a good weekly salary
Bitcoin relies on the dollar. If the dollar dissapeared from planet earth tomorrow morning my gold is unaffected.
Jackson Campbell
A gold ounce 900 years ago is still that same ounce of gold today. Doesnt matter if the dollar exists or not. Doesnt matter if Bitcoin takes off or not.
Brayden Peterson
retard. Bitcoin is energy, when the petro dollar dies today it will be replaced by the gas ruble or something else. Gold relies on stories, stories nobody with access to the full story buys
Mason Bennett
energy is not money FUCKHEAD
Robert Price
inert meme metals that lose value over time no thx!
Juan Mitchell
What is Prove of work mongoloid. I guess Boomers don't understand that, they buy shiny stories, like the man in the TV or the priest told them.
Blake Fisher
why would Bitcoin disappear? it would be just traded against other fiat currencies like the Euro. it doesn't rely on the dollar at all for its existence.
a Bitcoin from 2009 is still the same Bitcoin as it was in 2009. It doesn't change. Doesnt matter if the dollar exists or not.
Money is not supposed to increase in value. Money is supposed to be stable. When they first started issuing dollars 200 years ago or whenever, people didnt earn 10 dollars and then put that 10$ in a safe for 7 years in hopes that it would buy them a mansion....like what happened with bitcoin.
Money is supposed to be stable. Gold has been de-monetized by govts and it is just as valuable today as it was 1,000 years ago when people bought shit with it.
Gold measures value. The primary function of money is to measure value dipshit. Bitcoin doesnt do that.
you bought a story. Read into national socialist economics and understand how the nazis determined value. The work put into something determined value, which can be expressed in energy. Nothing else is bitcoin. Take your monetarist brainfuckeries to reddit
Brayden Collins
There is no such thing as a bitcoin. It isnt real.
"Hey Jimmy....i bought a frog today at the pet store you want to come over and see him?"
"Why would I want to come see your from Mohammed? I have 50 pepe frogs on my computer hard drive."
Ian Foster
Very marxist of them
Brody Powell
There is no such thing as a bitcoin. It isnt real.
"Hey Jimmy....i bought a frog today at the pet store you want to come over and see him?"
"Why would I want to come see your frog Mohammed? I have 50 pepe frogs on my computer hard drive."
Nope, gold measures value bitcoin does not measure value.
Aaron Smith
>buzzword Nobody stops you buying stories, but stories lose their appeal as soon as information becomes widely available that disproves them or makes them sound boring my fellow geocentrist
Anthony Cooper
Bitcoin is the superior Gold and no amount of your butthurt will change that. look at again.
Connor Sullivan
Gold is more decentralized, more portable and more easily transactable than bitcoin tho.
Also 1. gold is completely anonymous and doesn't leave a trace of transaction. 2. gold doesn't need electricity or internet access 3. gold doesn't rely on exchanges to cash out 4. your gold bags can't be hacked 5. gold doesn't rely on any 3rd party, like bitcoin does on mining pools
Julian Nelson
I'm a Btc moonboy but I agree. At what point should we buy gold though? I have savings of approx. $10-12k. I think it makes sense to buy gold when you have more like 50-100k in savings?
Bentley Wood
Why would I buy analog gold when I can buy digital gold instead?
Aaron Lee
> At what point should we buy gold though? Last week before it broke 5 year resistance of 1350. Gold if full bull now and will go parabolic in 3 months.
Carter Hall
Bitcoin maximalists bet on fiat collapsing. Goldbugs bet on civilization and infrastructure as a whole collapsing.
How do you live with such a massive chip on your shoulder?
>Hello everybody I'm like you >But I think the thing OP sells is nice >How do I buy Marketing and sails fags, always the same script, if I wouldn't know that you are pajeets, I would assume you are bots
Grayson Wilson
How much do you have in crypto? How much of that savings do you use for daily life? If that's just in the bank and you don't really touch it I would def put 7-8k of that into silver immediately.
Because in a dollar collapse that could come at any time. 300-400 ounces of silver would be a gold mine
Michael Jenkins
If bitcoin lowers in price too much I will buy them all. Enough people with this mentality is what holds it high enough that can’t happen (ie 000s per coin). So long as it threatens to enter widespread adoption and moon in the near future there will always be buyers keeping it high. Just by being dominant as the original coin and under development is enough to keep it this way. However if ppl give up on it ever working as a currency or something else takes its place I have no idea.
Michael Hughes
Good luck trying to cash out without KYC. Good luck trying to cash out any large sum at all. Good luck getting your bitcoin out during a blackout. Good luck avoiding taxes with bitcoin, where your every trade is immutably logged onto the blockchain for everyone to see. Good luck getting your bitcoin to do anything with the clogged mempool after the chink mining pools decide it's not profitable to mine anymore of the chink government bans bitcoin.
Caleb Sanchez
>gold is more decentralised
Tell the Russians and US and other states that control and hold the majority of the gold >gold doesn't need electricity or internet access
neither does bitcoin. Trasactions can be sent on radio-waves and by satellite, the network will never go down.
>more portable
Are you a fucking retard. what's more difficult to transport, a paper wallet with 100 bitcoin, or 1m USD worth of gold?
What's easier to transact, 10 sats of bitcoin precisely, or the equivalent in gold (microscopic particles of fucking dust). This is why silver existed as a moneary medium, gold is incredibly hard to transact at low prices.
>your gold bags can't be hacked great, can get robbed though.
>gold doesn't rely on a third party
Niether does bitcoin, read into game theory to understand why.
Zachary Lopez
Tell me off the top of your head how much gold a gallon of milk costs then. Fiat is the unit of account, not gold and it never will be again. It is far more likely that people will one day be able to answer this question in terms of sats
John Hall
makes sense. thanks man
Ian Rogers
>Tell the Russians and US and other states that control and hold the majority of the gold Top 2000 wallets hold 52% of Bitcoin. Binance and Bitfinex completely control the bitcoin price and pump or dump it with Tether and USDC. Combined, they hold 10% of all bitcoins in existence. Go government in the world controls 10% of the gold supply.
>Trasactions can be sent on radio-waves and by satellite, the network will never go down. The argument is so dumb, I won't even start refuting it.
>a paper wallet with 100 bitcoin It's not really bitcoin, it's the private key. You never hold you bitcoin, the network does. It's the same thing as storing your gold at the bank safe and carrying around the key, you trust in the network to keep running and chink pools not reaching 51% (which is very close, 2 biggest chink mining pools control 48%).
>Niether does bitcoin Actually it does. You can't mine yourself, you have to rely on some chinks to keep the network running for you.
Luis Allen
>Good luck trying to cash out without KYC. Sell bitcoins for cash >Good luck trying to cash out any large sum at all. Sell bitcoins for cash. Same problem for gold anyway. >Good luck getting your bitcoin out during a blackout. Heard of a generator? You can access the bitcoin network via satellite for free >Good luck avoiding taxes with bitcoin, where your every trade is immutably logged onto the blockchain for everyone to see. Heard of a bitcoin mixer? Wasabi wallet. >Good luck getting your bitcoin to do anything with the clogged mempool after the chink mining pools decide it's not profitable to mine anymore of the chink government bans bitcoin. Doesn't matter
why are people always so afraid of some collapse, it's some reset button side effect of some nihilistic post-apocalyptic anarchist view where some mad max dystopia living in bunker shelters
just to reply to OP gold is a store of value, bitcoin is not a store of value. Very simple. per capita gold reserves by country, some central banks are custodians to other countries
>why are people always so afraid of some collapse I dont think people are afraid of crashes. I think they are afraid of missing out on returns.
Even though its been proven over and over no one can 'time' the market to get in/out at the correct time, people still concern themselves with trying to time it anyway, moving their money out of the stock market before a crash and into other assets, then moving them back once it starts recovering.
People also over focus on yield over the tax and fee consequences of their actions. OP is correct in that gold does store value. In the time since the US stock market existed gold is the only asset which has maintained its value in comparison, however it obviously cannot compound in value, so it has not achieve the same level of return. It has only protected the value of your fiat where it would have otherwise sunk due to inflation in that time.
The crazy stupid thing is there is literally no investment better than just holding the index and waiting. Whenever you get free money, buy more index. If you do this, you will make better returns than 99% of investors, and the only people who do do better are literally Buffet. In fact since 1970 only 2 equity funds beat the index, Fidelity did it twice with two different funds and they only achieved 1% more per year.
this chart was written with bitcoin in mind and the rest was filled in this is so dumb
Isaiah Brooks
>Tell me off the top of your head how much gold a gallon of milk costs then Its 0.00263005 of an ounce
What exactly are you trying to prove?
Xavier Moore
>Sell bitcoins for cash No one is buying bitcoins for cash, because the transaction isn't safe and prone to scams. While you can just hand over gold and receive cash.
>Heard of a generator? You can access the bitcoin network via satellite for free Right. Have fun selling these bitcoins for $1, because no normal person will ever jump through the hoops of satellite connection to trade bitcoin.
>Heard of a bitcoin mixer? Wasabi wallet. Not anonymous.
>Doesn't matter It sure does. Mempool gets clogged by 50k transactions at the current hashrate. See what happens when the hasrate drops by say 70%. Good luck waiting for your bitcoin for months.
Michael White
You proved his point
Lincoln Morales
Dude you had to use a calculator and divide to get that. No fucking way you know that off the top of your head intuitively which is the purpose of a unit of account. Name an item and I can tell you in dollars how much it costs immediately without breaking out the calculator. Gold will never serve this role again, but bitcoin still has a chance someday in the future
Hudson Lewis
none of these traits make money what it is, they are merely byproducts of real money (gold and silver) real money has uses other than being used as a means of exchange. there is still demand for gold and silver even though the world is off the gold standard. there is no use for bitcoin if nobody uses it to pay for stuff. even eth is closer to being money than bitcoin will ever be, since you can at least use eth as gas for smart contracts even if nobody uses it as a means of payment.
Nolan Perez
You don't understand economy, at all. From my high IQ standpoint you're literally retarded.
I used to believe in the gold standard and all that stuff, but the boomer-ism around it is so fucking annoying that I am starting to doubt if I was not intellectually scammed.
Brayden White
family jewels?
Sebastian Hall
anything can measure value even cigarette butts
Colton Torres
If Bitcoin went to a million I'd sell half my gold to buy Bitcoin.
Logan Thomas
How many times has that gold been stolen in the last 900 years. How much did it cost to keep it safe? Ouch.
Aiden Thomas
Bitcoin is not really fungible, the way gold and fiat are.
John Moore
Neither are gemstones or smart phones, but the paper we trade them represents the amount of work(value/money) we are willing to trade to said items. The retention of value is based on the consensus of desirability vs rareness. So Bitcoin was worth .001 cents once apon a time. And each trade someone is willing to pay more for that same .001 . Over time. The amount of money(labor/value) someone is willing to trade for it will grow due to TRUE limited quantity. And THAT is the value, a network of cash that ISNT expensive to maintain(inflation/trading to beat inflation). The value is that people are sick if getting jewed. To the point that I will not sell you items based on fist or gold, my business is transitioning to only trusted wealth. Bitcoin is a literal historical record of willingness to pay whatever it costs, whenever, because the keynesian system will never stop printing.
What these fairy dust crypto maximalist RETARDS won’t tell you is that their entire market relies upon electricity, PoW and tether poofs creating a “USD backed” currency out of thin air. I’ve done my research before buying fake currencies, and let me tell you this entire market is solely propped up by fake tether poofs of BILLIONS of unbacked tethers. Tether marketcap at bitcoin all time high = 1billion, tether marketcap now is 3.5billion. Hey crypto maximalists, answer this question, how does tether grow 2.5 billion in a bear market? If you look at the charts, tether mcap surges before btc pumps. Btc determines overall market trends and tether determines where BTC goes, the tether ponzi is ingenious actually, and tether admits its backed up by BTC and not a 1:1 backing. >bitfinex “creates” tether out of nothing, literally a keystroke >tether bots buy up BTC >BTC price goes up >bots slowly put the brakes on buys >bot buys completely stop/stay at 1% power >btc price stops climbing because the tether buys have stopped >tether sells the new pump top >btc market price drops >rinse and repeat The entire crypto market as a whole is a illusionary sham and the entire markst can be knocked out in a moment by dropping EMP bombs on miners. Gold/silver is what you should be buying, 1 oz of gold and 100 oz of silver to make it.
