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Topic: Can Bitcoin surpass Gold? (Read 3398 times)

Obim34

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Re: Can Bitcoin surpass Gold?

December 12, 2024, 09:32:07 PM

#21

If we personally have to chose specifically on one, then i go for Bitcoin. Both Gold and Bitcoin are unique respectively, but i also will decide on what to choose depending on my reasons for adoption. Gold is a more stable asset, if i need as store of value and literally wants to take little risk of not waiting longer on my funds deposited knowing it would be needed at any convenient point then i would prefer Gold.

Now focussing on ROI, Bitcoin is completely volatile, this makes it a great option for investment purpose and generating huge profits in the long run.

My personal interest should be my pick, i prefer doing away with profits than just holding percentages and can't count any well accumulated gains over my holding period.

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ChiBitCTy

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 01:23:11 AM

#22

A question that's become as old as time around here. Bitcoin surpass gold how, in market cap? I dunno to be honest. As a currency? Sure, I'm banking on that. But how about a hedge asset that is also used to make jewelry and electronic parts such a pieces in tv cables as well as your own cars catallactic converter.

Gold and bitcoin are two separate things and always will be. They are made up of two completely different properties and while their uses intersect, I will always preach owning both.

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 05:00:38 AM

#23

Quote from: SiliconHat on December 12, 2024, 04:23:08 PM

Which team do you fall into Digital Gold or Traditional Gold?

I'm in the Digital Gold team aka BTC.

Gold is not good to hold for long term, it's only to fight the inflation, but if offers nothing. Bitcoin is offeering various advantages in a simple form as a digital currency.

Talking about Bitcoin's possibility to surpass gold, it's actually can happen. BTC only needs to do 9x increases from the current price to be the most valuable asset in the world. 1 million for 1 bitcoin looks achievable. This is definitely to happen once all of the retails in any countries adopt BTC.

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 05:50:25 AM

#24

Quote from: Ambatman on December 12, 2024, 05:20:27 PM

I still support Diversification
Though they are both store of values, there are needs Gold can satisfy that Bitcoin can't
So it's relevance can't be overlooked even if it surpassed by Bitcoin.
Yeah Bitcoin has the potential to surpass Bitcoin and like said Potential
But just Potential wouldn't cut it.
I trust in the failings of Fiat and this would increase the likelihood of Bitcoin surpassing Gold in the shortest time.

Gold is a physical instrument that can be touched with your hands if necessary. Which cannot be said about Bitcoin. And this situation still scares many. Yes, it is repulsive and alarming. People cannot come to terms with the fact that there is a digital asset that is present only in the virtual space. This fact makes you think twice and not use money to invest in this asset. Still, there is much more trust in gold, since it has gone through many centuries and is still relevant. It is possible that in a few years the situation will change radically.

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 06:10:07 AM

#25

Quote from: SiliconHat on December 12, 2024, 04:23:08 PM

I was having an argument with my colleagues earlier about the possibility of Bitcoin surpassing Gold?

It is a topic that has come up every now and then. It is normal to feel curious especially that bitcoin is considered digital gold so it is inevitable that they will be compared and that the traditional gold will be the standard for bitcoin.

Quote

Which team do you fall into Digital Gold or Traditional Gold?

I do not own gold but I do own bitcoin so I guess I am part of the digital gold team. This is not to discourage the buying of gold however for me bitcoin is my priority to buy and hold right now. With extra cash, I would probably take some gold in but under budget I will always prioritize the digital gold.

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Marvell1

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 09:46:19 AM

#26

Quote from: Stalker22 on December 12, 2024, 09:09:32 PM

Personally, I think gold is overvalued. It works fine as a regular material for jewelry or electronics, but I dont get why people treat it like some magical investment. Its price comes more from tradition and human psychology than anything special about the metal itself. People just got used to thinking of it as valuable over history. But if you look at its real usefulness today, it doesnt seem worth that high of a cost. Gold bugs talk up qualities like scarcity to justify the value, but those strike me as excuses to keep up tradition not solid reasoning. Id rather put my money into something more practical.

Gold is not only used to make jewelry and electronics but also used in almost every industry, every field such as medicine, food...Gold is the best metal thanks to its high purity, non-corrosiveness, stability in all harsh environments and that is evaluated through hundreds of research projects, experiments...it can be said that gold is the perfect substitute for all other metals. But because it is rarer than other metals, it is only used in important fields. Gold has been used and valued by humans for thousands of years, so don't try to deny its importance and value.

In fact, most of us invest money in bitcoin because of its huge returns, nothing more, nothing less. If we are rich or it can't bring big profit to help us get rich from small capital, I guess not many people will be interested in it.

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john_egbert

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 09:50:39 AM

#27

Quote from: asriloni on December 13, 2024, 05:00:38 AM

Quote from: SiliconHat on December 12, 2024, 04:23:08 PM

Which team do you fall into Digital Gold or Traditional Gold?

In a decade or so - and this will become a reality for everybody related to BTC in any way.
BTC offers much more than Gold, in my opinion, so it's obvious to follow a more innovative and decentralized path.

FortuneFollower

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 09:55:06 AM

#28

Quote from: Findingnemo on December 12, 2024, 08:11:18 PM

I never understood this or that when we can choose both. Roll Eyes

Gold is way ahead in the marketcap and Bitcoin probably need a couple more decades to reach that but is that stopping any individual from buying bitcoin for that matter absolutely no, so better to invest on both since two has more possibility to succeed and if there's any unfortunate circumstances coming up in the future at least one will be useful.

Yeah, it's just the way we view BTC and gold in such an environment that we are inclined towards BTC itself - though both can be used to achieve things on the market or overall.

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ultrloa

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 10:32:07 AM

#29

Quote from: SiliconHat on December 12, 2024, 04:23:08 PM

I was having an argument with my colleagues earlier about the possibility of Bitcoin surpassing Gold?
Gold has been dominating the economy and markets for thousands of years as a means of exchange and holding wealth(even generational wealth). On the contrary, Bitcoin(which is now called digital gold) was launched in 2009 and has achieved widespread adoption and success. It has been growing rapidly ever since.

I am not against hodling or buying bitcoin, infact i am an advocate for hodling bitcoin for the next couple of years because its certain there will be a huge increase in price to about $200,000 or higher in the future. But Gold is widely utilized compared to Bitcoin. Gold is also stable even though its price may fluctuate due to geopolitical factors and economic events whereas Bitcoin can be highly volatile.
Gold can be more reliable, this has been proven over and over. In this digital era, Bitcoin has accessibility, portability, divisibilty advantages over Gold.

Which team do you fall into Digital Gold or Traditional Gold?

No need to create separation of belief towards what's better investment between this two. Since people could adapt according on where they can earn more or can take advantage on. Both asset is good so instead of being selective and focus on one asset. More better to acquire both asset to yield more good result in f

I'm not actually a fan of comparing any asset since for me they are both good option to pick. For the question if there's possibilities that Bitcoin could surpass gold, well there's always a chance for Bitcoin to do that especially as of this moment this coin became more stronger and acceptance became more high. So once there would be a lot more positive exposure to Bitcoin then provably that there's huge chance it can gather more investor to join in the scene, also there's a chance price pump will follow.

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 10:39:25 AM

#30

Quote from: ultrloa on December 13, 2024, 10:32:07 AM

Quote from: SiliconHat on December 12, 2024, 04:23:08 PM

They are in two different leagues, essentially.
And I agree that in the meantime, BTC is going forward in terms of adoption. However, it's natural for people to compare things in the same fields - and gold with BTC stand together as the investment tools for many.

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 04:01:48 PM

#31

Quote from: asriloni on December 13, 2024, 05:00:38 AM

Bitcoin has many use cases as it was created to be a peer to peer currency but most of us today just use it as an investment to get rich. I don't see many people using it as a currency or payment method. And you are right, gold is not a good choice to hold long term if your sole purpose is profit.

Quote from: asriloni on December 13, 2024, 05:00:38 AM

Talking about Bitcoin's possibility to surpass gold, it's actually can happen. BTC only needs to do 9x increases from the current price to be the most valuable asset in the world. 1 million for 1 bitcoin looks achievable. This is definitely to happen once all of the retails in any countries adopt BTC.

The future is unpredictable and anything can happen, so bitcoin could surpass gold. BTC only needs to increase 9x more to reach $1 million and will surpass gold, that sounds simple but did you know that means bitcoin's market cap also needs to increase 9x? Bitcoin's market cap is $2 trillion, meaning we need another $18 trillion for bitcoin to surpass gold. Do you still think it's easy?

The world's total GDP is just over $105 trillion, the US contributes $27 trillion and China contributes $17 trillion. I wonder where we will get $18 trillion in a short time to get bitcoin to $1 million? For me, this is an extremely difficult and time-consuming task because $18 trillion is a huge amount of money.

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 04:30:42 PM

#32

Quote from: Findingnemo on December 12, 2024, 08:11:18 PM

I never understood this or that when we can choose both. Roll Eyes

Gold will have a higher value in the market cap because it existed before bitcoin, so it will always be higher, but we don't know what the future holds. Bitcoin may eventually overtake gold, but it will take many years. But it is advisable to invest in both of them because they are all good and you can succeed in either. It is up to you to choose which one you choose to invest in and profit from.

As for me, I usually invest in bitcoin because it is the only thing I can do to limit my risk and perhaps earn from it. Let's invest in bitcoin and make a lot of money. We should stop combining bitcoin and gold because I prefer to invest in bitcoin since I believe in it and am getting something out of it. However, some people frequently focus on gold since they believe it will bring them profits. And it's a good idea to do both if you have the opportunity and the capital to do so.

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Zeddquiver

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 04:32:23 PM

#33

Due to the rapid increase and progress of bitcoin since 2013 till date,It is likely to say that by 2029 ,bitcoin if keeping up its rate of increase in monetary exchange is likely to surpass gold in its market capitalization,which currently stands at about $17 trillion.

kawetsriyanto

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 04:51:00 PM

#34

Quote from: ultrloa on December 13, 2024, 10:32:07 AM

Because indeed both have their own value, both Gold and Bitcoin have their own market. There are also many people who invest in both. Currently, Gold is ranked 1st in Top Assets by Market Cap with a total market cap of $ 17,995 T. While Bitcoin is ranked 7th with $ 1,997 T. It is still quite far and will be difficult to surpass, although who knows what it will be like one day in the future. But the point is, both are valuable, with their own characteristics and values. As long as we can optimize the benefits, it doesn't matter, and the competition, the big investors or whales who may hold it more.

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 04:57:25 PM

#35

We are on a bitcoin forum and everyone here is a bitcoin investor so I don't think many people will give a fair and objective assessment of gold, people will have a bias towards bitcoin. But on the contrary, OP, if you ask this question on a gold forum or do a real life survey. I bet you will get an answer that is completely opposite to most of the answers here.

For me, I just hope bitcoin will surpass gold in the future because that also benefits me since I am a bitcoin investor. But I don't think that will happen anytime soon and nothing is certain because the gap is still very large and gold prices are also rising very well because the demand for gold is not decreasing.

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Swordsoffreedom

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 05:39:26 PM

#36

One interesting thing is that everyone believes bitcoin will surpass gold and most say it with certainty, not just predictions. But when it comes to which currency or asset will surpass bitcoin, people are sure that no one will be able to surpass bitcoin. This clearly shows that there is injustice going on and it is not too difficult to understand since most of us are bitcoin investors and even bitcoin maximalists Cheesy

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But to be fair, if bitcoin can surpass gold then there is a possibility that something can surpass bitcoin, we should admit this. And in terms of market capitalization, demand, and popularity, I'm not optimistic that bitcoin will be able to surpass gold in the next decade or two.

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 06:15:36 PM

#37

Currently, Gold's market cap is $17 trillion and Bitcoin's market cap is $2 billion. so Bitcoin Gold still has a long way to go. However, since the supply of Bitcoin is limited and the demand for Bitcoin is increasing day by day, the market cap of Bitcoin may exceed the market cap of Gold in the future. Because bitcoins grow faster than gold or other precious materials that is why everyone is attracted to bitcoins and are starting to focus more on bitcoins than banks or gold or other investments. so Bitcoin can definitely surpass Gold in future

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bangjoe

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 06:27:16 PM

#38

Quote from: OgNasty on December 12, 2024, 04:46:55 PM

Given Bitcoins limited supply and the ETFs seemingly ever growing need to accumulate, along with companies like MSTR buying at every opportunity, I think it is likely only a matter of time before its market cap surpasses gold. Gold is being manipulated with paper and new deposits are found regularly. If it doesnt happen next year, it will happen in 2029.

Gold is too long to wake up and has been a lot of manipulation with the documents, we do not know what is circulating and stored in finished goods in a safe and how big in the market with a real amount of ownership, it is still very questioned.

I am quite confident for Bitcoin to overtake the capitalization of gold in the future, but not 2029, it will be more than that in my opinion, the difference is quite far while this, therefore requires quite a lot of time for Bitcoin can overtake gold capitalization. But before that the most disturbing my mind right now is, where will this world go? The conflict continued to heat up and continued to grow and I thought that maybe the Third World War might occur before Bitcoin reached that point.

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 07:00:36 PM

#39

Bitcoin as a digital currency is just 15yrs old, and yet have been able to accumulate a market cap of over $2trillion, which is quite impressive as compared to gold that is over 5000yrs and currently having a market cap of $17.9trillion (i.e almost 9 times the market cap of Bitcoin). And as such, it will be really unfair to compare an asset of just 15yrs to that that has been in existence for over 5000yrs.

However, for Bitcoin to surpass Gold, it will need a market cap above $18trillion dollars, and the only way that can be achievable will be for the price of Bitcoin to skyrocket to over $500,000 per BTC, of which we all know such price can never be possible in the next 50years from now.

Calculation
Current price of Bitcoin = $101,500
Current BTC in circulation = 19,795,300 BTC

Therefore;
Current market cap = Current price of Bitcoin x Current BTC in circulation

$101,500 x 19,795,300 BTC = 2,009,222,950,000 (i.e approx. $2trillion)

Hence for Bitcoin to surpass $18trillion market cap, then the price of Bitcoin will need to skyrocket to over $920,000 per BTC

That is;
$920,000 x 19,795,300 BTC = 18,211,676,000,000 (i.e $18.2trillion)

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Re: Can Bitcoin surpass Gold?

December 13, 2024, 07:00:54 PM

#40

Bitcoin can & will surpass the market cap of Gold. The only question is how soon it will happen. I think it will happen in 15 - 20 years. Bitcoin is superior to Gold in all aspects. It is an idea whose time has come.

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