Gold and Bitcoin

[Perfect540]

which will you love to invest in, and what is your reason for choosing the asset?

If money is not a problem to you then buying both assets will diversify your investments. I love both assets so If given a chance to have them both then will probably hodl them. These assets are future proof so no need to worry about anything.

With the way inflation is going on in Bangladesh, investing in our local currency will not make any profit, but if I invest in Bitcoin or gold, I will have a chance of getting a lot of profit. Every day the value of money in my country is depreciating at the dollar rate, in this case if I buy bitcoins or gold and store it then there will be no possibility of devaluing my money. So I decided to invest in Bitcoin.

[Peter90]

So, I think It's the reason why rich people that know crypto will invest in bitcoin , not in Gold.
that's the fact

... and that's another fact




In the last 24 hours Bitcoin transaction volume was 24 billions $
As you can see from the graph, that would replace German Bunds in the graphic.
In 2021 gold daily transaction volume was estimated at 130 billions $

In US dollar terms gold was transacted 5x more than Bitcoin.

What will rich people do in the future is not a fact, it's future 
Fact is... 5x more 



... but if we take another chart (I don't know which one is right) for the same period (sept. 2020 - sept. 2021) ...




... we have gold average daily trading volume at $180B. That's a factor 7.

2021 gold was transacted 7x more than Bitcoin.

How's that for a fact 

[0t3p0t]

which will you love to invest in, and what is your reason for choosing the asset?

If money is not a problem to you then buying both assets will diversify your investments. I love both assets so If given a chance to have them both then will probably hodl them. These assets are future proof so no need to worry about anything.

With the way inflation is going on in Bangladesh, investing in our local currency will not make any profit, but if I invest in Bitcoin or gold, I will have a chance of getting a lot of profit. Every day the value of money in my country is depreciating at the dollar rate, in this case if I buy bitcoins or gold and store it then there will be no possibility of devaluing my money. So I decided to invest in Bitcoin.

That is a wise choice to be honest. We are unsure of what our future will bring but given the current situationwe have an idea on how we can prepare for our future so I think these assets namely, Bitcoin, precious metals and real estate will surely give us the financial freedom we wanted in the long run.

[Sim_card]

which will you love to invest in, and what is your reason for choosing the asset?

If money is not a problem to you then buying both assets will diversify your investments. I love both assets so If given a chance to have them both then will probably hodl them. These assets are future proof so no need to worry about anything.

With the way inflation is going on in Bangladesh, investing in our local currency will not make any profit, but if I invest in Bitcoin or gold, I will have a chance of getting a lot of profit. Every day the value of money in my country is depreciating at the dollar rate, in this case if I buy bitcoins or gold and store it then there will be no possibility of devaluing my money. So I decided to invest in Bitcoin.

That is a wise choice to be honest. We are unsure of what our future will bring but given the current situationwe have an idea on how we can prepare for our future so I think these assets namely, Bitcoin, precious metals and real estate will surely give us the financial freedom we wanted in the long run.

Gold has been confirmed to be a safe haven, and bitcoin will soon be under this class. The three most valuable assets that are worth investing on to save your funds from depreciation is gold, bitcoin and real estate. These investments generate money over time and that is what we need to invest in. Real estate, and gold are not for the average or low class to invest in, but bitcoin brought the opportunity for all class of people to invest, and for this reason, I will take bitcoin over gold. I am not rich.

[0t3p0t]

Gold has been confirmed to be a safe haven, and bitcoin will soon be under this class. The three most valuable assets that are worth investing on to save your funds from depreciation is gold, bitcoin and real estate. These investments generate money over time and that is what we need to invest in. Real estate, and gold are not for the average or low class to invest in, but bitcoin brought the opportunity for all class of people to invest, and for this reason, I will take bitcoin over gold. I am not rich.

Totally agree with you mate, Bitcoin is all for one and one for all. All these assets generate passive income in the long run that is why Billionaires love them.

[Peter90]

I meant exactly the possibility of redeeming real gold/silver for "virtual assets". This is a good indicator, and it means that this asset (token) has real and collateral, which stabilizes its value, and also does not allow to manipulate the market and consumers.

Bingo!
One of the basic criteria in order to understand if a gold-backed stablecoin is good or bad, is to look for the redemption option: the redemption option - like the audits - is another sign that the metal is there, that the coins are backed up by metal.
A gold-backed stablecoin which doesn't provide this option... I would stay away from it...


Please allow me to quote what I posted in Tether Gold (XAUt), where I compare Kinesis with Tether Gold:

6) Kinesis minimum redemption = 100 grams
You can ask for redemption of your KAUs = they send to your address your physical gold, minimum 100 grams.
Tether Gold minimum redemption = 13.300 grams
"As of the date of this whitepaper, to redeem XAUt for the physical gold associated with it, the holder must generally have a minimum of 430 XAUt tokens (i.e., 430 fine troy oz of gold)."
1 ounce (oz) = 31 grams
430 oz = 13,3 kilograms

7) If you ask for redemption, Kinesis can deliver your gold all around the world.
Tether Gold delivers only in Switzerland: "Should you ever want to redeem your XAUt tokens for physical gold, you can. We deliver physical gold bars to any address in Switzerland."

[bitterguy28]

Gold has been confirmed to be a safe haven, and bitcoin will soon be under this class. The three most valuable assets that are worth investing on to save your funds from depreciation is gold, bitcoin and real estate. These investments generate money over time and that is what we need to invest in. Real estate, and gold are not for the average or low class to invest in, but bitcoin brought the opportunity for all class of people to invest, and for this reason, I will take bitcoin over gold. I am not rich.

Totally agree with you mate, Bitcoin is all for one and one for all. All these assets generate passive income in the long run that is why Billionaires love them.

The higher they can invest is the bigger they can gain and businesses knows that and also gamblers are billionaires , they knew where and when to bet and knew when to take their money out and this is the problem from many small investors that keeps expecting price to gain when it may lose in the end.

[Peter90]

So, I think It's the reason why rich people that know crypto will invest in bitcoin , not in Gold.
that's the fact

Yes, and this is another fact
Monetary authorities all around the world - the Central Banks -, people who know a couple of things more than me and you about money, are accumulating gold, not bitcoin.

How about that as a fact 

I have an assumption that the world financial system, at the beginning of the "cryptocurrency era" simply did not pay attention to this concept, and remained faithful to the "old school" - multi-currency baskets, gold, .....
Or at least they hoped that having total control over the financial world, easily and effortlessly "put in place a youngster. But then "something went wrong" ...

Now it is difficult to say whether they have or are running companies and wallets with stocks of cryptocurrencies. But I think now we will observe an interesting game on the market - on the one hand, bitcoin-ETF was launched where big players can play, and very successfully.
On the other hand, these players probably don't have so many cryptocurrency reserves to fully manipulate the market.
On the third side, there are "private" players who own cryptocurrencies and can influence this market, which is not pleasant for financial elites, as they used to consider themselves the inhabitants of the financial Olympus, and "mere mortals" should not be a hindrance for them.... But cryptoworld has "broken the scheme" here too

First thing first, data 





Second thing second, you

Cryptocurrencies are not being used as money but only as a way to make money.
which in my view is a betrayal of their nature - and of their name: crypto-currencies
Recently two interesting threads were opened about it:


Are you really interested in the future of blockchain/crypto?

However, I've noticed a concerning trend: people are primarily driven by profit motives rather than a genuine interest in blockchain technology and its transformative potential.

It's ironic that blockchain technology was initially hailed as a potential game-changer, yet many individuals remain indifferent to its intricacies and ultimately value it solely based on financial gains 

BTC Spot ETF is market poison?

3. In the long term from a pessimistic perspective, BTC Spot ETF could be a poison pill for BTC and crypto. Stay calm and let's look at it together.

Losing the historical mission of Bitcoin: In 2008, Satoshi Nakamoto introduced Bitcoin as a method for people to have the right to self-custody of money, not dependent on third parties, escaping the traditional financial model that has a lot of problems.

So this is my theory:
What you call financial Olympus - I like it. Did you read something from greek ancient literature? - financial elites are concerned only with money.

What is not used as money is not interesting to them.
That's why, for example, they are not interested in commodities or shares/stocks.

So, as long as cryptos are not used as money cryptos can't compete with fiat and gold (and partly silver) within the money game

[retreat]

Bitcoin is the first digital asset that I know of that offers the concept of a decentralized transaction system that is secure and hack-free. I see that what Bitcoin offers is a form of innovation that disrupts the payment system we have today, where people can make international transactions more quickly and securely. Even though after studying and investing in Bitcoin, I found several shortcomings which made Bitcoin not scalable, but even so, I still think that Bitcoin is still a digital asset that can be relied on by many people globally and that will continue to grow in the future.

[yohananaomi]

I would probably choose Bitcoin because it is an innovative technology that is still undervalued and has huge growth potential. It is also a digital currency with a limited supply, which makes it more unique. Of course, gold is always in price and it is a physical asset with a long history of stability, but still I am for technology!

I understand your perspective. In the last several years, Bitcoin has undoubtedly grown significantly, and its potential for future expansion is really intriguing. Furthermore, despite the lengthy history of gold as a safe haven investment, there is merit to the revolutionary qualities of cryptocurrencies. However, it's crucial to keep in mind that cryptocurrencies are still a relatively new and erratic kind of investment, so not everyone should do it.

It is certain that both are very attractive investments with their own share. Gold has been used as an investment for longer, but with the development of the digital era, bitcoin has emerged, which is also an attractive investment.
You just have to adjust it to each individual to determine whether you want to look for safety. Then gold is a very suitable investment, unlike bitcoin, whose price is always changing. Only with more patience and a long time are they suitable for investing in bitcoin.
Once again, both are equally good, but for me, it is clear that bitcoin is currently very promising for a very attractive long-term investment.

[Peter90]

The three most valuable assets that are worth investing on to save your funds from depreciation is gold, bitcoin and real estate. These investments generate money over time and that is what we need to invest in.

Hi Sim
real estate, gold and bitcoin, I like that!
The traditional partition was 30% real estate, 30% stocks, 30% gold.
I think they called it the jewish rule, or something like that

Real estate, and gold are not for the average or low class to invest in, but bitcoin brought the opportunity for all class of people to invest, and for this reason, I will take bitcoin over gold. I am not rich.

This has been the case until recently Sim,
but today we have - among others - gold-backed cryptos.
One of the benefits offered by gold-backed coins is their fractionality.

For example, one of the reason why the Indonesian gov is promoting Kinesis' gold-backed stablecoins in Indonesia is to give the opportunity to non-rich people to buy gold, as gold-backed cryptos - unlike physical gold - can be fractioned down.

What is the minimum amount of gold, or silver, I can purchase with Kinesis?
"On the Kinesis Exchange, you can purchase as little as 0.00001 KAU and 0.00001 KAG"

Today 1 gram of gold = 66 $
0.00001 = 0,00066 $
The minimum amount requested to buy physical gold through Kinesis is 0,00066 $

[philipma1957]

The three most valuable assets that are worth investing on to save your funds from depreciation is gold, bitcoin and real estate. These investments generate money over time and that is what we need to invest in.

Hi Sim
real estate, gold and bitcoin, I like that!
The traditional partition was 30% real estate, 30% stocks, 30% gold.
I think they called it the jewish rule, or something like that

Real estate, and gold are not for the average or low class to invest in, but bitcoin brought the opportunity for all class of people to invest, and for this reason, I will take bitcoin over gold. I am not rich.

This has been the case until recently Sim,
but today we have - among others - gold-backed cryptos.
One of the benefits offered by gold-backed coins is their fractionality.

For example, one of the reason why the Indonesian gov is promoting Kinesis' gold-backed stablecoins in Indonesia is to give the opportunity to non-rich people to buy gold, as gold-backed cryptos - unlike physical gold - can be fractioned down.

What is the minimum amount of gold, or silver, I can purchase with Kinesis?
"On the Kinesis Exchange, you can purchase as little as 0.00001 KAU and 0.00001 KAG"

Today 1 gram of gold = 66 $
0.00001 = 0,00066 $
The minimum amount requested to buy physical gold through Kinesis is 0,00066 $

I hold a good amount of  silver. And btc. They are my primary holdings. Not a fan of holding gold. But it is a decent metal. It is less bulky than silver.

[DrBeer]

"On the Kinesis Exchange, you can purchase as little as 0.00001 KAU and 0.00001 KAG"

Today 1 gram of gold = 66 $
0.00001 = 0,00066 $
The minimum amount requested to buy physical gold through Kinesis is 0,00066 $

On one hand it's a great solution - a minimum entry threshold, allowing even low-income people to stock up a little at a time. This is very important for countries where the population does not have large incomes and is not able to immediately buy 10-100 grams of gold as an investment asset.

On the other hand, for example, I and my family bought 1 gram of gold and.... decided to turn it into real bullion and take it home. Yes I know that refineries produce bank bars from 1, 2, 2.5, 5 grams and then in multiples of 10. But I assume that Kinesis assets are most likely in large ingots, from 100 grams, which is easier, more convenient and cheaper to store.

Question - is there a minimum milestone for "withdrawal" of gold bought in the Kinesis network?

[Peter90]

I hold a good amount of  silver. And btc. They are my primary holdings. Not a fan of holding gold. But it is a decent metal. It is less bulky than silver.

Hi Phil
diversifying is always sage, both in what one buys and in how he does it.
The latter is particularly important with precious metals as there are so many ways to buy them.

Silver's bulkiness is a problem only when one keeps it at home, and has to carry the bars up- and downstairs

Silver's bulkiness derives from the fact that silver has a lower value concentration than gold per physical unit, which can turn out to be an advantage:
You walk around with one Krugerrand, you know that you are carrying around - and possibly losing - 2050 $ with you. You know also that if you happen to have no cash and no cards with you, there will be some issue in deploying the value of that coin - the first issue being to convince the other side that it's not fake...
You walk around with 5 American Eagles, everything much more relaxed 


I'm a silver guy myself, so we have something in common. Actually among the old generation of bitcoiners and crypto people it's not rare to find precious metals friends. It's the new generations who tend to despise metals.

I talk always only about gold as it is the epitome of precious metal and sound money, but actually everything - well almost everything - I say about gold and gold-backed stablecoins can be said also about silver and silver-backed stablecoins. Silver is also a currency, but that's less evident than in the case of gold, so in talking about currencies and crypto-currencies I stick with gold.

[DrBeer]

By the way, I had an interesting thought. Let's imagine that 5 years have passed, for example, the world has accepted cryptocurrency, and let's assume that it has replaced fiat currency. I.e. cryptocurrency has replaced dollars, rupees, yuan and other euros Let's call it for example BitcoinWorldCoin.

As we understand from classical world economics - a currency with constant deflation is NOT good for the economy. I will not describe why, we can put it in a separate topic, as it requires a lot of explanations. But for interest you can ask your economists, they will confirm this idea.
What is going on?  The world is forced to find ways to stabilize the "price" of BitcoinWorldCoin. And what happens ? That's right - BitcoinMicroCoin, becomes unattractive from an investment point of view. And loses its appeal. Yes, as a means of accumulation and savings - it will still be in demand among ordinary people, but large investors will leave it - why do they need something that is stable in price. Another option - Bitcoin World Coin still has an inflationary component, contrary to the essence of Bitcoin World Coin replacement of other currencies.
In both the first and the second scenario investment attractive will be ... GOLD !

Your opinion ?