Bitcoin vs Gold as a store of value

johnarb said:
Both of you are saying the same thing that bitcoin is not worth the valuation and this is a trading site where you can express your belief by taking a position in the (CME futures) markets. When you say you're afraid to short a bubble or this and that, then you're just saying that bitcoin is worth hundreds of billions of $. Why would you be worried to load up on a short position now and keep adding if you truly believe it's worth much less (or zero)? $11,500 for a shitty asset seems like an opportunity of a lifetime. Most shitty assets priced at $100 or $200 would be a screaming short.

I'm holding. I make no excuses and I do not get swayed by negative opinions of others.
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It's not feasible to hold shorts with a broker like IB and I'm not going to abandon everything else just to short bitcoin. This is why I'm not short.
 
d08 said:
It's true, just like the alternative currencies of the 90s. Chinese have been having great difficulty taking their often ill-gotten gains out of the country, bitcoin came to rescue.

And how is it any better than gold then? Gold is great for storing value. Gold will be the same gold 50 years from now. Most likely your current choice of Crypto won't even exist 50 years from now.

What I'm reading is that converting bitcoin to usable currencies takes 3 days now, that's the same as an international wire transfer. It's not horrible but hardly efficient.
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This is going to be wasted, but here goes.

Bitcoin is much better than gold. You can cross any border by any mode of travel with more than $100,000 worth of bitcoin, try doing that with gold. You can send $100,000 worth of bitcoin to anywhere in the world in minutes. Try doing that with gold.

I don't know where you're getting the 3 days from, but there are much faster ways to get fiat. I have a tablet I loaded with a few thousand dollars worth of bitcoin, and it takes me less than an hour to pick up fiat from a local remittance place. Look up localbitcoins and mode of payment for buyers (not face to face meetups).

Bitwala was cutoff by their bank partners, otherwise, you can send money to yourself anywhere in the world you happen to be traveling using bitcoin. Bitwala is planning to resolve this issue by possibly being a bank themselves.

Bitcoin acts as swiss bank account. Gold I guess can function as such but the storage and security issues of being confiscated anywhere you go with a significant amount is not cool. Ymmv.
 
johnarb said:
This is going to be wasted, but here goes.

Bitcoin is much better than gold. You can cross any border by any mode of travel with more than $100,000 worth of bitcoin, try doing that with gold. You can send $100,000 worth of bitcoin to anywhere in the world in minutes. Try doing that with gold.

I don't know where you're getting the 3 days from, but there are much faster ways to get fiat. I have a tablet I loaded with a few thousand dollars worth of bitcoin, and it takes me less than an hour to pick up fiat from a local remittance place. Look up localbitcoins and mode of payment for buyers (not face to face meetups).

Bitwala was cutoff by their bank partners, otherwise, you can send money to yourself anywhere in the world you happen to be traveling using bitcoin. Bitwala is planning to resolve this issue by possibly being a bank themselves.

Bitcoin acts as swiss bank account. Gold I guess can function as such but the storage and security issues of being confiscated anywhere you go with a significant amount is not cool. Ymmv.
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Man... You do realize you're arguing about how central banks are shit and cryptos are the answer to that with a guy who worships one of the biggest current symbols of all that stupidity(Mario Draghi, from the ECB, check his picture if you haven't), right?:D

Save your time and enjoy your bitcoins... ;)
 
NeoTrader said:
Man... You do realize you're arguing about how central banks are shit and cryptos are the answer to that with a guy who worships one of the biggest current symbols of all that stupidity(Mario Draghi, from the ECB, check his picture if you haven't), right?:D

Save your time and enjoy your bitcoins... ;)
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Worships? I thought he's expression was interesting so I used the image. What an interesting world you live in, Mr. Chinese symbol man (does it say "chicken soup"?).
 
d08 said:
Worships? I thought he's expression was interesting so I used the image. What an interesting world you live in, Mr. Chinese symbol man (does it say "chicken soup"?).
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Yeah... Something like that.;)
 
johnarb said:
This is going to be wasted, but here goes.

Bitcoin is much better than gold. You can cross any border by any mode of travel with more than $100,000 worth of bitcoin, try doing that with gold. You can send $100,000 worth of bitcoin to anywhere in the world in minutes. Try doing that with gold.

I don't know where you're getting the 3 days from, but there are much faster ways to get fiat. I have a tablet I loaded with a few thousand dollars worth of bitcoin, and it takes me less than an hour to pick up fiat from a local remittance place. Look up localbitcoins and mode of payment for buyers (not face to face meetups).

Bitwala was cutoff by their bank partners, otherwise, you can send money to yourself anywhere in the world you happen to be traveling using bitcoin. Bitwala is planning to resolve this issue by possibly being a bank themselves.

Bitcoin acts as swiss bank account. Gold I guess can function as such but the storage and security issues of being confiscated anywhere you go with a significant amount is not cool. Ymmv.
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If we're talking about storing more than a bag of gold coins, then yes, bitcoin is more portable than gold. But what good is the portability if it does not hold its value over time? As I said, tulips held / increased in value for a while as well.
 
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ET180 said:
If we're talking about storing more than a bag of gold coins, then yes, bitcoin is more portable than gold. But what good is the portability if it does not hold its value over time? As I said, tulips held / increased in value for a while as well.
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gold had a speculative boom in the 70s/80s that finished with it dropping over 80% in inflation adjusted terms. booms and busts are normal in markets, what matters are the FEATURES one of asset vs the other
 
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