Bitcoin or Gold???

[amarowsky]

I have a bit of silver and a bit bitcoin, at this point they're both just for fun.

nothing wrong w/ a little fun

[james.hendrickson]

I have a bit of silver and a bit bitcoin, at this point they're both just for fun.

[amarowsky]

i kept some gold, but most of my new "hedge type buys against the market/inflation" are going more towards BTC.

I just tossed my BTC into voyager (one of the exchanges) that is offering a pretty decent APY of I think 5.7%. By no means betting the farm, I just see a future where crypto has a much larger lane than it currently does.

Ill keep the stake small (respective to my gross portfolio) and keep DCA"ing in the shadows as it grows

Edit** - Also worth mentioning. I did my 1st ever crypto Wallet --> Wallet transaction. And it was far more simple than I expected (and lower cost too).... It did help to visualize the grace and speed of the x-fer after I actually completed one.

[Michael44]

I think both are plausible investments, but given how much the Bitcoin price has gone up recently, this might not be the best time to do so. According to some projections BTC should dip in value around Christmas, so there might be yet a new opening before the end of the year (this is usually caused by the fact that people want to withdraw some of the profit they made on Bitcoin and buy Christmas presents etc...)

[Nutria]

corn18

https://www.globaltimes.cn/page/202106/1226598.shtml

The ban also means that more than 90 percent of China's Bitcoin mining capacity is estimated to be shut down, at least for the short term, as regulators in other key mining hubs in China's north and southwest regions have taken similar harsh steps.

Some industry players had hoped that regulators in Sichuan, where hydropower is abundant, could take a softer approach. But the latest ban underscores Chinese regulators' determination to curb speculative crypto trading to control financial risks, despite certain benefits to local economies, observers said.

[corn18]

BTC has gone down 50%. Can someone tell me why? I prefer something less volatile.

[JAbbot1985]

Btc for sure, the bitcoin growth is exponential, while gold gains a few percent every year. One of the key features of Bitcoin is that it has a fixed supply, which means there will only ever be a maximum of 21 million Bitcoins in circulation. Given the fixed volume of the asset, if there is continued demand for the cryptocurrency, the value of Bitcoin will theoretically increase. And also it is really simple to pay with bitcoin now that there're ATMs in every corner. If you need a map of ATMs try paydepot.com.

[LaurenKelly]

Gold is undoubtedly a good investment, but you will make more money from BTC. Bitcoin and gold both have significant advantages over fiat currencies because neither can be diluted or debased. So, while bitcoin is a more recent form of investment that is certainly receiving a lot of hype, gold has retained its value through centuries. It's safer to invest in gold, but it's much easier and faster to make money from just registering on https://uphold.com/en/assets/crypto/buy-xrp, and start trading XRP or BTC.

[myrdale]

I did hear an interesting point of view last week about investing in Bitcoin, but really it applies to anything you invest in:

"It's not about how it performed in the past, it's about how you expect it will perform in the future".

Do you think Bit Coin is going to go up in price in the future?

Personally, I do not think Bit Coin, specifically, has a long term future. 5 years, most certainly, 20 years... I don't know. At some point it will hit the highest price it will ever be worth, and then the price will drop. It may surprise me, but specifically because of it's strength of not being able to be controlled by a central government, is what will make it a target.

[james.hendrickson]

New paradigm will be 60/20/20, securities, bonds, bitcoin/gold, respectively.

This is entirely possible.

[QuarterMillionMan]

New paradigm will be 60/20/20, securities, bonds, bitcoin/gold, respectively.

[corn18]

Ya'll should buy some NFT's, too. Add crypto to anything these days and people will buy it.

[amarowsky]

i don't think bitcoin is useless. It is crazy to think that total bitcoin market cap is also up to 910 Billion USD worth of value. This has to mean that bitcoin at least holds $919 billion worth of trust.

I don't know what to think of bitcoin. It's insanely volatile, yet, abruptly growing in value over the last 2 years roughly. I heard someone explain it as, "a complex and interesting solution to a problem we don't really have". One thing that really makes me nervous.... is the non-stop advertising and pushing bitcoin has been getting from media (mainstream in many cases I hear). Typically most financial instruments that mainstream media is pushing, the harder they push it, the more skeptical I get.

There is no more denying bitcoin or crypto currencies, as a substantially important speculative investment. But beyond that, I don't think there is any good/bad advice around it that is "black and white". Maybe the best advice anyone can give surrounding crypto, is to purchase/sell/avoid/hold it with trepidation and consideration.

I think greed, hope, mystery, envy, desperation, and curiosity have been the prime reasons crypto in general has remained so popular. I'm keeping a safe distance from it, while trying to read & observe more.

[Captain Save]

I think the idea is more that, as an investment, bitcoin (unlike wheat that can be consumed or a company that produces profits) doesn't have another application, doesn't produce anything, and does not generate income. Bitcoin is purely a means of storing value, and hoping that in the future it will remain of value. Same is often said of precious metals & other currency speculation.

At least, that's one of the (multiple) reasons I personally avoid it.

I agree 100% with your assessment .. that is why it's very much like Gold... but to say it's "useless" is completely different. People do use it but there are other cryptos that can do what it does much better, faster and cheaper..

However, the value of anything including, gold, stocks and even real estate has a lot of to with speculation.. unlike Gold or Bitcoin some of these examples have a greater percentage of its value not tied to speculation. I think having a strategy where you don't touch anything that has no "intrinsic value" is a good one.

I don't invest in Gold.. & I have about $400 in Bitcoin and I probably put it in BTC only to move it to another crypto. Bitcoin is the gateway to the Crypto world. Many of these crypto projects have real use cases and they do produce products & services that people are using today. Fortunately or unfortunately , Bitcoin drives that market, though I can see a time where people think to themselves why should I put my money on BTC when I have this product that banks need and gets utilized every day. Just like today , most of us say "what is the point in holding Gold". However, Gold still has the mindshare and the branding as the inflation hedge.

Right now Bitcoin has the mindshare & is the top brand of the crypto world , which is most likely where we are all headed... just look at who's your newly appointed SEC chariman.

[kork13]

Bitcoin is useless therefore it is not a good hedge against inflation. Is that more clear?

So you're saying that the remittance uses and people using it in those countries hit with hyperinflation.. is a lie?

I think the idea is more that, as an investment, bitcoin (unlike wheat that can be consumed or a company that produces profits) doesn't have another application, doesn't produce anything, and does not generate income. Bitcoin is purely a means of storing value, and hoping that in the future it will remain of value. Same is often said of precious metals & other currency speculation.

At least, that's one of the (multiple) reasons I personally avoid it.