BITCOIN vs GOLD: What’s Valuable & What’s Not
By Alyze Sam on ALTCOIN MAGAZINE
Bitcoin is similar to gold in the sense neither have any REAL value.
I’ll be honest, this was a long Instagram post that I REALLY enjoyed and decided to write a short bit!!
Stockpiles of gold or hodling bitcoin.
Which is better? Gold? Bitcoin?
Bitcoin is mysterious, new but has nothing “backing it”, unregulated…
Gold is pretty. Was worshiped by our ancestors, it’s still idolized by many, but it has nothing “backing it”, unregulated… wait a minute.
Do you want to get technical? Let’s do it. They’re both pretty freaking worthless.
Think about it.
We can trade Bitcoin and gold for food, water & shelter; but these items themselves have no true value, yet the two are often compared against each other.
At this time, many claim gold is a safe investment, it’s been said:
“Gold is something with a universal value.”
However, there are many who view it as yet another asset that governments are free to manipulate. The banks buy gold in large quantities; is this not a “pump & dump” or control method? Hmmmm…
How much gold truly exists?
Who’s testing to see if it’s REAL gold?
Where’s the regulation?
In my opinion, Bitcoin is actually a better asset to invest in, as it cannot be controlled by governments or banks. Further, it is capped! Meaning, only a certain amount exist. Once BTC reaches its full supply and releases it into the world, there will be no more to “shockingly” discover (or mine), so its value merely continues to grow.
Bitcoin is backed by science, technology, and mathematics.
It’s run by a social consensus implemented through an algorithm. Don’t know what that is? It’s cool. Look it up. Blockgeeks can help.
Did you know?
In the past, a gold standard was often implemented as a monetary policy, but gold coins ceased to be minted as a circulating currency in the 1930s, and the world gold standard was abandoned for a fiat currency system after 1971.
Wikipedia has a collection of amazing info on gold…
“The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry. Gold’s high malleability, ductility, resistance to corrosion and most other chemical reactions, and conductivity of electricity have led to its continued use in corrosion resistant electrical connectors in all types of computerized devices (its chief industrial use).”
So, basically….. nearly half of gold is for investment. Excuse my valley girl accent here but,
“Like, what the hell? Isn’t that just like, super heavy money? I mean, I guess my butt will look good if I carry my investment bars in my purse everywhere.”💁🏼♀️
Okay, okay. Stablecoins. I know. I wrote a book on them. My Gold backed cryptos article can be viewed here.
Jokes aside, my favorite part of the explanation was
“….continued use in corrosion resistant electrical connectors in all types of computerized devices (its chief industrial use).”
Okay, valley girl voice one more time,
“So, like… my grandmas gold bracelet will be melted down to power ASICs used to transfer Bitcoin to pay for everyday needs in the future.?!”
Bahahahaha! How’s that for a gold rush?! 😂
Before you think that’s unbelievable, gold is merely a dated commodity. We’ve only allowed it to keep value because of tradition. Gold, itself, has never fed my starving child. 😂
If you own gold and you try to argue one can eat gold; please note you don’t know anything about your investment. You’d better go open a book, right this very minute. I’m concerned. 🤦🏼♀️
Bitcoin dropped like a bazillion percent, Sam! We are all going to die! Gold never did that!
Well, hold on there Jamie Dimon and you other bank bullies trying to flood news headlines with crap… don’t you know
“history repeats itself?”
“During Mansa Musa’s (ruler of the Mali Empire from 1312 to 1337) hajj to Mecca in 1324, he passed through Cairo in July 1324, and was reportedly accompanied by a camel train that included thousands of people and nearly a hundred camels where he gave away so much gold that it depressed the price in Egypt for over a decade, causing high inflation.”
A contemporary Arab historian remarked:
Gold was at a high price in Egypt until they came in that year. The mithqal did not go below 25 dirhams and was generally above, but from that time its value fell and it cheapened in price and has remained cheap till now. The mithqal does not exceed 22 dirhams or less. This has been the state of affairs for about twelve years until this day by reason of the large amount of gold which they brought into Egypt and spent there…”
— Chihab Al-Umari, Kingdom of Mali
So, where do I invest my money?
Any wise investor will tell you to do your own research. (DYOR)
I think my buddy Kyle Rea is going to start tattooing “DYOR” on peoples heads when he teaches intro to crypto trading for me! 😂
Something that may come as a surprise to you….
It’s only fair to compare $BTC with $GOLD if that’s what we are here to do. This chart compares the performance of gold in the last 43 years and that of Bitcoin since its inception. It was originally posted by Twitter user Nunya Bizniz, who described the charts as having an “uncanny” resemblance.
In conclusion
We are currently on the edge of
“What’s more beneficial to invest in; Bitcoin or Gold?”
That’s a pretty cool start for a new technology.
Currently, you can invest in either and there are ways to keep your investments from completely falling flat, or as I previously mentioned you can have the best of worlds by obtaining a legit gold-backed stablecoin.
What are your thoughts?
What have you invested in?
Where do you see gold & BTCin 10, 20 & 50 years? Let me know.
Not to be a hater but;
I’m just say’n. 💁🏼♀️😂
Reach out to collaborate or add anything! Let’s work to keep education transparent, updated, and free. 👩🏼💻
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Thank you so much for reading and please stay tuned for more. You can “catch up” on my publications as listed. ❤️
Educational & Entertaining Crypto & Blockchain Dictionary published by Hackernoon. 👩🏼💻
1/7 Complete & Simple Guide to Understanding StableCoins here.
2/7 Asset-Collateralized coins, also known as, Fiat-Collateralized StableCoins found in my publication here.
3/7 I also covered Crypto-Collateralized StableCoins. That article can be viewed here.
4/7 Then switched things up a bit and visited the only Non-Collateralized StableCoin Category, Seigniorage Supply (Algorithmic) StableCoin Model. Enjoy the description of the futuristic currency model here.
5/7 Next? A simple to understand category among a Asset-Collateralized group; Metal-Collateralized Stablecoins found here, with a long list of promising projects.
6/7 Lastly, combining asset backed and non collateralized crypto’s, we have our Hybrid StableCoin Model Category. View this here.
7/7 If you’d like to learn how to “get ahead” with your newfound StableCoin knowledge, visit my very last part of my Ebook here. “A Guide to Using Stablecoins to Increase & Protect Your Assets.”
