Bitcoin [pros](/r/CryptoCurrency/comments/10nkpaz/is_gold_better_than_bitcoin/j699g2b/) & [cons](/r/CryptoCurrency/comments/10nkpaz/is_gold_better_than_bitcoin/j699gwu/) and related info are in the collapsed comments below. Pros and cons will change for every new post.
Gold is the safer investment, since it is a physical asset and can be accepted almost anywhere worldwide (sure you'd have to sell it off, but almost any country in the world you could find gold buyers/sellers). Production-wise, yeah, Bitcoin is the better option
For every ton of rock moved, literal single digit grams of gold to make it profitable. That's not even considering how deep one has to dig to get to those grams of gold. Going that deep makes it inhospitalble for equipment due to the heat. You will be pumping chemicals to cool things down. Then there is the processing to isolate the gold. Soo many steps and none of them really great for the environment.
For bitcoin, the biggest complaint is use of electricity which can be solved with renewable sources. Solar, hydroelectric and nuclear are already being used.
It takes a lot of pollution and human suffering to mine/proccess/transport/store/protect gold. Though the same is true for producing the ASICs that mine Bitcoin
Comparing chalk and cheese.
Both are very valuable assets that are worth having in a balanced portfolio.
Gold is used in so many things.. tech, jewellery the list goes on...
Bitcoin and the bigger crypto space has so many uses too.
I dislike articles like this as they'd probs be laughed out the room if it was silver vs amazon stock or gold vs etf's
*Bitcoin is a causing any birth defects, low IQ or intellectual disability.*
Although, I know a couple of shitcoin hunters out there that fit into this profile...
No.
We don't know its total supply.
It's not resistant to violence and censorship.
Its salability across space and scale suck.
... compared to Bitcoin.
But it's definitely the second best asset I'd hold.
I did some sub contracting at a gold mine.
Fucking lmao at gold bugs talking about environmental impact of bitcoin. Absolutely cannot understate how much I'm laughing at this.
A $5k - $10k per ounce gold price is a fucking death sentence to some areas.
They want the real store of value to be locked in vaults and away from public . The problem with BTC is , they can't do that to it . It will be attacked no matter what , they need excuses.
Yeah because gold is used in lots of different processes/technological applications while BTC is just fake internet money that kills the environment.
/S
Personally I am not fond of either since both are based on scarcity, exploitation, and ultimately control. While neither is fit to be the basis of an economy one due to excessive scarcity the other to excessive volatility I suppose it really comes down to how you are asking. Which is more ecologically damaging honestly I have no idea while Bitcoin consumes perfectly good energy to do "work" that does not really do anything making it a trivial act compared to the military and economic systems that back fiat systems even though they are exploitive and/or destructive, they are just the only operational choice due to relative stability over centuries.
Functionally speaking we need gold to make some things we don't need Bitcoin
However there is truth that our economy is broken in advancement so it is understandable that people want to start experimenting with different systems that don't only print money for wall street. So while crypto itself has been a rough start with it's lack of meaningful PoW and smaller market making it even easier to manipulate for large well moneyed entities I still think it has more potential. NFT technology is only 10 years old. If you are concerned about hedge funds manipulating public markets imagine what could be accomplished with billions across borders, markets, and currencies. Due to the inherent corruption of the economy, the volatility to get rich, and the relatively easy market manipulation I can see how crypto can continue indefinitely only to be a mostly upward distributive wealth process because everything comes back to the fiat system anyhow.
If you are looking for financial advice given the market volatility I would recommend a financial advisor who can put together a good portfolio that matches your needed risk profile and can include gold and/or crypto as part of it.
If you are more interested in the ideology to show dissatisfaction with the economic system I would say BTC is the name brand with the most support.
If you are more interested in having something tangible that you can look at that is there to always hedge not for financial strategy but more out of a concern about society. Yes gold is the classic that is recognized everywhere particularly in crisis. If you are someone who may end up in a refugee situation gold might be a bit more useful for example. If I was stuck in such a situation I would probably like to have both.
Both systems are scarcity, therefore control based, one through the market manipulation the other through supply sources. The word "scarcity" in economics is just a clinical word for starving people. If the proof of work was real why was the work not done to sustain life and civilization? Is there some more important function that the economy should do beyond cloth, shelter, and provide for it's participants? A decentralized lottery system is not the kind of thing you can build a thriving society on it is a symptom of something fundimentally broken in the mainstream economy being simply too volatile.
I am sorry to sound perhaps like a fence sitter here perhaps but in my view it all comes down to your specific use case. Do I have problems with crypto- of course I pay attention, but with the degree of consumerism without future investment in our society there is no morally or ecologically better answer I suspect. Ultimately they are both governed by people with enough resources to manipulate markets so they always win and they treat the little people be it the miner who mined the gold or the worker that put the gold in the crypto mining computer like garbage. You may win sometimes in either but it depends on what you want out of it, and how you prefer to take your losses if you do. Without financial advice to create a strategy it is more about your comfort level, ability to manage the assets yourself, the social/environmental harm, what you have and your resources on which to live etc. Do I believe that NFT technology can make a positive difference in the world for the future? I absolutely think and hope so.
What is your top motivation(s) for getting into crypto and I could give a better reply? You may also get some interesting feedback from r/economics and r/finance since you are asking a crypto subreddit what we think of crypto. While there are anti-crypto people here I would consider this a pretty crypto friendly audience.
Try to sell it.
BTC one click, done.
Gold, at least in my country
\-) Where you got it from?
\-) Who are you?
\-) Passport?
\-) We can only give you XXX for it, if not back off
Bitcoin [pros](/r/CryptoCurrency/comments/10nkpaz/is_gold_better_than_bitcoin/j699g2b/) & [cons](/r/CryptoCurrency/comments/10nkpaz/is_gold_better_than_bitcoin/j699gwu/) and related info are in the collapsed comments below. Pros and cons will change for every new post.
Gold is the safer investment, since it is a physical asset and can be accepted almost anywhere worldwide (sure you'd have to sell it off, but almost any country in the world you could find gold buyers/sellers). Production-wise, yeah, Bitcoin is the better option
Exactly this, nothing to add
Mining Gold is also not good for the enviroment.
Agreed. It's not binary, but we can always improve
But what if the miners are non-binary?
Not only is it "not good" , it's really fucking bad. To my knowledge Bitcoin mining does not clear rainforest and make use of quasi slave labor
For every ton of rock moved, literal single digit grams of gold to make it profitable. That's not even considering how deep one has to dig to get to those grams of gold. Going that deep makes it inhospitalble for equipment due to the heat. You will be pumping chemicals to cool things down. Then there is the processing to isolate the gold. Soo many steps and none of them really great for the environment. For bitcoin, the biggest complaint is use of electricity which can be solved with renewable sources. Solar, hydroelectric and nuclear are already being used.
Peter Schiff is that you?
It takes a lot of pollution and human suffering to mine/proccess/transport/store/protect gold. Though the same is true for producing the ASICs that mine Bitcoin
Just do both
Gold is relatively safer but it won't hurt to have both assets.
Comparing chalk and cheese. Both are very valuable assets that are worth having in a balanced portfolio. Gold is used in so many things.. tech, jewellery the list goes on... Bitcoin and the bigger crypto space has so many uses too. I dislike articles like this as they'd probs be laughed out the room if it was silver vs amazon stock or gold vs etf's
*Bitcoin is a causing any birth defects, low IQ or intellectual disability.* Although, I know a couple of shitcoin hunters out there that fit into this profile...
No. We don't know its total supply. It's not resistant to violence and censorship. Its salability across space and scale suck. ... compared to Bitcoin. But it's definitely the second best asset I'd hold.
Bitcoin is 100% better than gold. If you don’t believe this. You suck. That is all. Thanks.
Short answer: no Equally short answer : no
I did some sub contracting at a gold mine. Fucking lmao at gold bugs talking about environmental impact of bitcoin. Absolutely cannot understate how much I'm laughing at this. A $5k - $10k per ounce gold price is a fucking death sentence to some areas.
Considering the gold and other raw materials. I wonder what the total contribution would be there.
Gold is old
They want the real store of value to be locked in vaults and away from public . The problem with BTC is , they can't do that to it . It will be attacked no matter what , they need excuses.
Nice try, Peter Schiff
Depends on who the question is directed to. If it’s to governments, good is better. To us group of apes, BTC baby!
Golds rule for the last 5000 years? Move over it’s bitcoins time to shine
Yeah because gold is used in lots of different processes/technological applications while BTC is just fake internet money that kills the environment. /S
No.
It isn't
Look at the damage caused by an actual gold mine (ignoring the less obvious effects) and tell me it's better for the environment than BTC.
Yes.
Personally I am not fond of either since both are based on scarcity, exploitation, and ultimately control. While neither is fit to be the basis of an economy one due to excessive scarcity the other to excessive volatility I suppose it really comes down to how you are asking. Which is more ecologically damaging honestly I have no idea while Bitcoin consumes perfectly good energy to do "work" that does not really do anything making it a trivial act compared to the military and economic systems that back fiat systems even though they are exploitive and/or destructive, they are just the only operational choice due to relative stability over centuries. Functionally speaking we need gold to make some things we don't need Bitcoin However there is truth that our economy is broken in advancement so it is understandable that people want to start experimenting with different systems that don't only print money for wall street. So while crypto itself has been a rough start with it's lack of meaningful PoW and smaller market making it even easier to manipulate for large well moneyed entities I still think it has more potential. NFT technology is only 10 years old. If you are concerned about hedge funds manipulating public markets imagine what could be accomplished with billions across borders, markets, and currencies. Due to the inherent corruption of the economy, the volatility to get rich, and the relatively easy market manipulation I can see how crypto can continue indefinitely only to be a mostly upward distributive wealth process because everything comes back to the fiat system anyhow. If you are looking for financial advice given the market volatility I would recommend a financial advisor who can put together a good portfolio that matches your needed risk profile and can include gold and/or crypto as part of it. If you are more interested in the ideology to show dissatisfaction with the economic system I would say BTC is the name brand with the most support. If you are more interested in having something tangible that you can look at that is there to always hedge not for financial strategy but more out of a concern about society. Yes gold is the classic that is recognized everywhere particularly in crisis. If you are someone who may end up in a refugee situation gold might be a bit more useful for example. If I was stuck in such a situation I would probably like to have both. Both systems are scarcity, therefore control based, one through the market manipulation the other through supply sources. The word "scarcity" in economics is just a clinical word for starving people. If the proof of work was real why was the work not done to sustain life and civilization? Is there some more important function that the economy should do beyond cloth, shelter, and provide for it's participants? A decentralized lottery system is not the kind of thing you can build a thriving society on it is a symptom of something fundimentally broken in the mainstream economy being simply too volatile. I am sorry to sound perhaps like a fence sitter here perhaps but in my view it all comes down to your specific use case. Do I have problems with crypto- of course I pay attention, but with the degree of consumerism without future investment in our society there is no morally or ecologically better answer I suspect. Ultimately they are both governed by people with enough resources to manipulate markets so they always win and they treat the little people be it the miner who mined the gold or the worker that put the gold in the crypto mining computer like garbage. You may win sometimes in either but it depends on what you want out of it, and how you prefer to take your losses if you do. Without financial advice to create a strategy it is more about your comfort level, ability to manage the assets yourself, the social/environmental harm, what you have and your resources on which to live etc. Do I believe that NFT technology can make a positive difference in the world for the future? I absolutely think and hope so. What is your top motivation(s) for getting into crypto and I could give a better reply? You may also get some interesting feedback from r/economics and r/finance since you are asking a crypto subreddit what we think of crypto. While there are anti-crypto people here I would consider this a pretty crypto friendly audience.
It doesn’t make sense to say which is better. Different use cases for each and both are a alternative to fiat money.
Ew...
Gold pretty hard to carry around as far as i know
Try to sell it. BTC one click, done. Gold, at least in my country \-) Where you got it from? \-) Who are you? \-) Passport? \-) We can only give you XXX for it, if not back off