Why crypto isn't like gold and silver

Silver is the new gold, brainlets.

Money is supposed to MEASURE value. And nothing has done that better than gold. Doesn't matter what year it is including today.

Bitcoin doesn't measure value.

information technology changes the way we store value.
Nobody cares that gold is shiny, it just has been a good solution to store value.
With crypto you don't need to hide pieces of metal in the basement and crypto is basically the only asset that can't be confiscated from you (if you're not a brainlet)

Money does not measure value, value is measured by money.

Total brainlet. Gold isn't valuable only because its shiny.

Also... if gold is just a shiny thing then why is confiscation a possibility?

And what monetary instrument has measured value best whether it's 2018... 1920 or 500 B.C?

Gold

gold is not redundant in any respect you can use gold as money anywhere in the world and it is certainly the only thing today that can be use to measure value over time.

bitcoin will be a good measure of value when it reaches global adoption (when it stops growing exponentially against gold)
as it is non inflationary and its loss of supply is a known quantity it can make gold redundant as the measure of value as soon as the internet is ubiquitous, decentralized and indestructible

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Information technology doesn't change the way we store value. Bitcoin was 20k only 5 months ago. Bitcoin is the polar opposite of a store of value.

If I could wave a magic wand right now and have the bitcoin price be $6,500 from now until the end of the century.... would you be happy with that?

Not arguing that.

My question remains... if gold is useless and just a shiny rock....

Then why is confiscation a potential thing?

That's why all my cryptocurrencies are in 1oz copper rounds

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I have that ETH token. Definitely not copper, it's just plated steel.

no one who understands bitcoin is claiming it is meant to replace gold (although it could in the far future)
it is meant to replace centrally controlled currency
it is peer to peer electronic cash
it is the most superior form of currency ever invented
if it succeeds it will free everyone from currency debasement

How long do you have to live to see your return.
Jewlery is the best for gold
I tried to get change and the store said they didn’t have change for gold.
Not environment friendly to mine
And if we look at it like you do it’s just minerals
Or paper that doesn’t have the actual gold to back it.

and before gold it was some weird stone.
gtfo you tard you have no idea how the debt system works.

We will be exchanging your silver to lead do to civil war
How about food
You can have all the good and no food
Problem
Fiber optic

Crypto is better than gold

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Why do you faggots act like gold and crypto are mutually exclusive? Blind unthinking tribalism.

How can bitcoin potentially replace gold when gold isn't even used in the monetary system today?

Crypto (in part) is a flight to get out of fiat because fiat is failing, right? And fiat is failing because it isn't backed by gold anymore.

So gold literally has nothing to do with any issues with the economy and monetary system at all. In fact all our economic and monetary issues is because gold doesn't back the currency.... yet gold is still as valuable today as it was thousands of years ago...

So how is bitcoin going to potentially replace gold when gold has no function in the economy? Doesn't make any sense at all

I have both, crypto is just better.

You are right.... but the overall sentiment is in cryptoland is negative towards gold.

Literally branded the "new gold."

How is crypto the "new gold" when there's literally no issue with gold? And it's not backing any currencies

The same happened to gold
Really a stupid concept
Try the Middle East

How is it better? Even if crypto is at full adoption that's not going to make gold any less valuable. Gold isn't part of the monetary system today at all. And we are moving toward crypto yet gold doesn't lose any value.

A gold ounce 900 years ago is still that same gold ounce today. Doesn't matter if the dollar or crypto exist or not

What happened to gold? A gold ounce 900 years ago is still that same gold ounce today. The dollar value of gold is meaningless. If the dollar vanished from the world tomorrow... your gold ounce is completely unaffected. You understand that right?

So why would you be valuing gold (real money) in terms of fake money (dollars)?

>How is it better?
see

Except we can buy Gold using DGX, which is redeemable for bullion, and tradeable on the Ethereum blockchain. So......who cares? We don't just want a store of value, we want a massive bonanza of gains in net worth. What point are you trying to make? You want us to pump your shiny metal? Once MakerDAO is updated, you can use DGX to issue DAI - a USD equivalent token. At that point, a lot of us will be locking our gains in to back the DAI currency, meaning we act like a new central bank. And that means more demand for Gold. You're welcome.

To hard to sell in its physical form for many people.
Buy store it find a buyer go to the buyer then if he doesn’t buy you got to find another have to weigh each piece transport it to you then to the buyer
Gold is not practical
And if you buy on paper that’s not gold there’s not enough gold for the amount on the exchange
BS

Yeah except crypto isn't real. Gold is real physical tangible wealth, it's represents unit of labor. Crypto is just a bunch of electrons running around on a circuit board inside a computer.... it doesn't represent shit.

>How can bitcoin potentially replace gold when gold isn't even used in the monetary system today?
gold is always the monetary system, gold is money without decree
if someone chooses to think fiat is money that's their mistake
if the internet becomes ubiquitous, decentralized and indestructible crypto will be better than gold in every criteria see until then it won't have the redundancy gold has

>Crypto (in part) is a flight to get out of fiat because fiat is failing, right? And fiat is failing because it isn't backed by gold anymore.
Fiat is designed to fail. Central banks reduce the value of fiat at 3% faster than the rate consumer goods get cheaper so that nobody can accumulate enough wealth to stop working. Pic related

>So gold literally has nothing to do with any issues with the economy and monetary system at all. In fact all our economic and monetary issues is because gold doesn't back the currency.... yet gold is still as valuable today as it was thousands of years ago...
gold is always money, if you wanted to rent land off a government they would give you a price in gold.

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Do you think "value" is a magical force inherent to Gold? Tell us user, what's it made of? Value-particles? How does that work?

BS
The USA needs to be called out on this
You are to have the gold in stock for every transaction
Everyone knows there is no gold there and have to wait to long and deal with brokers
Gold is bull shit at its best

in 2011 I was thinking in a similar way. Back then I did so math, and if the BTC supply was to be used by all people on the planet, that would account for 2 "servings" a person.

To work crypto has to work, id does not need 100% adoption, or 80% or 8%. It is ok. Crypto can be as it is not with 0.49% adoption and just work.

The value comes from the hash rate.

Same as gold, the value comes from the cost of mining.

I can make an order and pay it, without having to do to the place and pay in grams. Paying in grams does not work. You need a setlement layer, like goldmoney. These fuck will betray you the first sign of trouble.

The ultimate killer app of crypto is the privacy coins. Cause nobody knows how much you have and it cannot be taxed or confiscated.

It is over. Crypto won. We live in a new world.

gold is money because it is the value datum; all things' value degrade relative to gold over time.

bitcoin is the best currency ever invented

being physical has nothing to do with it gold is backed by its properties bitcoin is backed by its properties

>electrons aren't real
>math isn't real
>the labour to create the code and hardware isn't real

I can never decide if these insane goldbug threads are a really terrible attempt at fudding Gold by making Gold holders seem like absolute shit-tier retards or not.

Thats wrong, crypto is superior to gold in every way.
>it isn‘t real
are you retarded or something?
maybe read a book you stupid nigger.

I get what you are saying exactly... you don't want just a store of value you want to make gains.

But real money isn't supposed to make you gains. So bitcoin is not real money.

When you are a plumber and you make 50$ For a job... that energy you used to get paid is supposed to be stored. You put it in gold or even dollars...... you aren't expecting that 50$ to be worth 5k in 4 years because that's not how money is supposed to work.

Earning that 50$ and putting it into bitcoin in 2010 can buy you a mansion right now probably... that's not what money is supposed to do

>gold resilience to oxidation is magic according to cryptofag

How can crypto be better than gold when there is literally absolutely zero fault in gold???

There is no problem with gold right? It functions as money today just like 3,000 years ago.

All that bitcoin or crypto can hope to be is be as good as gold. But it can't surpass gold because there's literally nothing wrong with gold as far as storing value goes and measuring value

fkn faget

Value is just social construct. If the people in the parallel universe accepts wood has more value than gold then wood has more value than gold. There's nothing you can do about it.

Much better when that $50 is worth $20 dollar after some time. lol stupid fucking nigger.
Are you a mouthbreather? would explain a lot.

bitcoin will grow against gold in value until it reaches equilibrium with global demand

this is basic shit user, it's called the adoption curve see pic here

Not denying bitcoin as a currency... it's a potential currency that could very well become a currency that everyone uses...

But there is a difference between current and money... and gold is both. Bitcoin is not money tho

bitcoin is ledger or distributed database, not money nor currency

What is wrong with gold? You literally can't lose owning gold.

Literally a bible passage saying gold bought you 350 loaves of bread 2,500 years ago.... and that same gold ounce still buys you 350 loaves of bread at the grocery store today.

Let me ask you a question.... if you had to put all your net worth into either gold or bitcoin and travel 150 years into the future.... which would you pick?

because crypto can be everything gold is and more

I've said it like 10 times bitcoin is not meant to replace gold it's meant to replace fiat currency

it could make gold redundant as a measure of value and money if the internet becomes ubiquitous, indestructable and decentralised

Why isn't wood a store of value and why is gold a store of value?

Why don't we all go live on a beach and deem sand as money and a store of value. Wouldn't work out to well right?

I would pick BTC and buy shitcoins

BTC of course
asteroid mining will make gold dirt cheap in the future.

Except you can't touch it. And doesn't represent anything. Bitcoin isn't a unit of labor

redundant doesn't mean gold wouldn't work as a measure of value or a currency
it would just not be used by anyone because bitcoin can be superior in every criteria of good money

Read what I just wrote, are you retarded? This has nothing to do with the US - we know the Federal reserve is empty. I didn't say anything about the US, what crack are you smoking?

We can buy tokens, on the Ethereum blockchain, directly redeemable for bullion. Now. Today. It's called DigixDAO. Google it.

We can then deposit it into a smart contract, and use it as collateral to issue DAI - a USD price matched token. It's not fractional reserve banking - every DAI is therefore redeemable for an amount of Gold held in the MakerDAO smart contract.

Do you understand the implications of that? We are able to use Gold as a store of value, and then gain all the benefits of electronic exchange offered by cryptos. We're literally replacing the central banks. Again, not years in the future, but today. Well, a few more weeks until the update rolls out. I've got a bunch of DGX (the token linked to a bar of bullion) already waiting.

Fucking Goldbugs. Go read something outside your tiny bubble for a change.

>t. bagholder from 2011

PM-fags are the original shitcoin shillers.

Bitcoin isn't even 10 years old and already they are trying to get away from bitcoin as a gateway and add other fiat pairings

>gold buys you 350 loaves of bread
what bullshit. it depends on where you bought the bread

much more likely to survive 150 years than your shitty unprotected safe full of gold that niggers will loot.
how a nigger gonna loot a password inside my head?
he can't.
BTC > Gold
in every category.

Except there's no physical tangible wealth. It's perfect except it isn't real.

So your point is that investing is dumb and I should just "store" my wealth? Because somehow that would please the money gods because I'm using money "the right way"?
That's some real mental gymnastics there.
Really, tell me why I just STORE my wealth instead of using it to increase it.
I'll wait.
It's like those housewives that stash "good silverware" for a special occasion that never happens.

>inb4 w-what you're seeing is just inflated fake money valuation and not real increase!
My money measured in gold have made a 20x in the last year

So you acknowledge that they aren't mutually exclusive things, and cryptos aren't "threatening" gold in some way, and serve a different use case. Good! So what the fuck is this thread about?

>muh REAL TANGIBLE PHYSICAL VALUE
Didn't realise goldbugs were this retarded. Nothing at all has any intrinsic non-physical property. Nothing.

The idea of "social constructs" gets really bad rep, but it is so significant.

>buhhhhhhjh it no reel if u no touch!!1!11
Absolute moron.

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>t. bagholder from 2018

Crypto-fags are the original shitcoin shillers.

I love your logic :^)

being able to touch it is not a criteria for good money
anything is a unit of labor, when bitcoin reaches global adoption and the price is not volatile it will be an excellent way to store excess labor

gold develops as money in all civilizatoins independently because it gives the advantage of allocating resources efficiently as gold is the best measure of value (price). Bitcoin can be an even better measure of value because it's supply is known to 8 decimal places

Just stating a hypothetical statement. It's really the consensus gives something value. If people accepts something has a value then it has a value.

Wtf you talking about moron? Bread is like 3.50-4$ a loaf... multipled by 350 loaves = right around $1,300 which equals an ounce of gold.

So a gold ounce buys you roughly 350 loaves today as it did 2,500 fucking years ago.

THATS the definition of real money

Why the fuck would niggers want to loot the gold????

I thought it was a useless shit metal?

Only person who is a dumb nigger is you.

Gold is useless.... but niggers will steal it. God damn morons

being physical is not a criteria for good money

I have said to you a million times the internet will need to be indestructable, ubiquitous and decentralised before bitcoin could have as much redundancy as gold

>3.50 a loaf
where

>DGX
shut the fuck up noobs, and look this:
youtu.be/DyV0OfU3-FU

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>nigger sees shiny metal
>nigger can trade it for bread and booze
>nigger take it

in your retard fantasy, where would I store Gold for 150 years in a secure way?
impossible.

Luckily gold is a bit older than 150yo and is stable for thousand of years. I don't get this whole discussion, this isn't about black or white - 0 or 1. Bitcoin wont make gold obsolete in its current value and vize versa.

Btw you are your own bank, believe me...if you leak your wallet once and you hold a decent amount of crypto, then get ready for some torture. Furthermore all the old people who are playing their own bank and throwing around their PK like they have their pin code in their current wallet. BTC is everything else than riskfree.

I can buy 1000 loaves with an ounce in the UK. Whats your point?

In his cherrypicked example. Retarded boomer is religious about his love for some rock that society happens to deem valuable.

No... investing is not dumb. And you aren't just supposed to store all your wealth.

My argument is btc is not money because money isn't supposed to go up in value like bitcoin has.

When I work for a week 100 years ago and earn an ounce of gold......I can still buy the same amount of shit today as I could 100 years ago. My labor and energy were stored.

Money isn't earning 20$ and it being able to buy you 100 times the amount of goods 5 years later. That's an investment, but not money

You couldn't, until the 70s. Now it's a speculative asset.

In the future? In 1000 years you might still be able to buy those same 350 loaves of bread. I'd rather put money in something that appreciates.

Also gold and Bitcoin have value for the same reasons. We deem they have value. If we relegated gold to it's industrial use it'd be less valuable, and if we relegated Bitcoin to it's use cases it'd be far less valuable.

Ok if consensus gives something value then why is the dollar failing?

I mean virtually every American says the dollar is money right? So why is it losing value???

BTC is absolutey risk free if you store the key in a secure way.

the question is HOW TO STORE GOLD SECURE FOR 150 YEARS WITHOUT TRUSTING A KIKE BANK?
Its impossible for the average joe, thus BTC is more secure and better than gold.

bitcoin is going up until its price reaches equilibrium with global demand then it will extremely stable
you literally are unable to think two steps ahead

>Fiat is designed to fail. Central banks reduce the value of fiat at 3% faster than the rate consumer goods get cheaper so that nobody can accumulate enough wealth to stop working. Pic related

Supply and demand. The total purchasing power of the US has not kept up with the printing of extra dollars so it dilutes the total purchasing power of individual dollars. But the purchasing power of all dollars has gone up.

Something similar would happen if we are able to mine a gold asteroid. The total value of all gold would go up, but the value of individual ounces would go down.

Right now? Not Bitcoin, it's a piece of shit that's being toppled by better platforms.

But let's say Ethereum. Yep, I'm willing to bet that even if the current Ethereum chain itself is made obsolete, the smart contracts on it, including those capable of replacing the banking system, will be in use, and the value of the Ether (because yes, value isn't a magical force inherent only to Gold) will have gone up. And part of that is because by then the current fake paper being traded as "Gold" will have vanished, and smart contracts like MakerDAO will be used to track Gold bullion, and let it's value be used directly. Meaning the entire value of the global Gold will probably be merged into the value of the cryptos ecosystem. So in reality, my holding Ethereum ends up meaning I'm holding Gold too. The opposite is not necessarily true however - Golds value won't have benefited directly from the network effects and use value as much as cryptos did.

Dude fucking humor me......... I said if you are about to hop on a fucking time machine and you can bring your ledger with your bitcoin in it or bring with you 100 gold coins.... which are you going to bring with you.

It's a fucking simple exercise on what you would bring with you.

As your traveling at the speed of light into the future intergalactic niggers breaking into your time machine and stealing your gold isn't part of the fucking equation you dumbass

of course I'd take the BTC.
>but you can buy some bread with it

shut the fuck up nigger, I buy a medium sized european country instead.

Your willing to bet but you aren't for sure.

If you took a time machine 150 years into the future.... and you had to put all your net worth into gold or ethereum you'd be a fucking moron to choose ethereum.

It's never that simple though. One of the biggest issues with gold is that it is physical and must be transported to transact.

It's completely likely we will have gold back assets on the block chain in the near future. I think the Brits are already working on that. So if you want to argue that is a form of gold currency that's fine, but the transactional speed of physical gold is archaic.

Good point as well. You don't even need paper - I've memorised my wallet mnemonic phrase & I repeat it like a mantra all the time (it's a comfy habit now actually). I can literally walk through customs naked, and my cryptos are accessible. That's value. Try that with bullion.

Gold is savings..... bitcoin is not savings

by the time asteroid mining is feasible, human population wont be limited to earth so the demand would match the supply
also by that time computer can break current cypto algorithm making it worthless

it will be when it reaches global adoption

Why is bitcoin 6k but it was 20k not even 7 months ago?

Once again you are your own fucking bank. Everyone makes mistakes, especially the human. I doubt that you have created a paper wallet on an offline device with a virtual linux machine for a complete a secure way of storing your bitcoin? That would be risk free. Most likely you have your ledger side in side with your recovery phrases on you table. Everything else can be fucking exploited.

And in the end you are the guy, who has the access. YOU ARE YOUR OWN BANK. You can argue forever if that is riskfree or not once people know how much you are holding. Violence and threat are a disgusting thing.

So it gets to a certain price then it's savings???? Makes no sense.