Home Bitcoin News Explain How Bitcoin (BTC) is a better Store of Value than Gold?

Explain How Bitcoin (BTC) is a better Store of Value than Gold?

Explain How Bitcoin (BTC) is a better Store of Value than Gold

Peter Schiff Interrogated: Explain how Bitcoin is a better store of value than gold. Bitcoin is currently trading 30% below its Nov. high. Gold on the other hand is only 5% below its Nov. high. Now 5% may be a large drop in one month, but at least gold held up better than the #NASDAQ, which is off 7%.

Community Response:  Gold is trading below its 2011 high.

I don’t think anyone denies that people aren’t making money off of Bitcoin, but people also make money in Ponzi schemes.

You can literally take your Bitcoin to your grave with you, effectively making a donation to all the other holders if you wanted to, because it’s unconfiscatable as long as stored properly. Gold can be physically stolen. That said, I own both Bitcoin as well as Gold & Silver.

You can take your beanie babies and stamp collection to the grave with you too. Helping out all the other beanie baby HODLers.

USD is the Best Gain 30% again bitcoin since Nov high Gain 7% again Nasdaq Gain 5% again Gold USD to the moon

As long as the FED keeps reducing the supply of Treasury Bonds with its QE program, the USD will remain in strength against other financial instruments including crypto USD is reserve currency. Bitcoin proponents are fighting against FED, the godfather of financial markets.

Gold has been flat lined for years.  Peter stop being this obtuse.

What do you do with gold? Can I send it to friends or family on the other side of the world if they are in need of financial assistance?

Yes you can. You can transfer ownership of your gold online, which your friends or family members can easily redeem for local currency. It’s faster and cheaper than using Bitcoin.

Sir don’t you think on the one hand you say store of value and on the other hand you compare the highs of the last month.  If I want my wealth to be preserved in the long run, I won’t consider such short-term calculations! I’d want the max return and preservation from inflation.

Value is a perception.  Neither has value any more if people “decide they don’t” In the case, with Bitcoin, meme lords have marketed it to high heaven. Even if no individual Personally values it, there is now a “De facto agreement” that “it is valuable”

Store of value, in this case, depends on the “perceived value” and so long as “meme lords” promote the idea that it is valuable, to the point that there is a “de facto agreement” that it is, then it will be… That “de facto agreement” is key…

If you put $100,000 USD into Gold in 2011 and added inflation from then until 2021 how much would it be worth today? I think #Bitcoin was the better option.

You can make anything work if you cherry pick time frames. It is better to look at average performance through DCA.

I, too, consider 45 day price moves when considering long term stores of value. Not going to Make It.  Pete, Not Going to Make It.

Let’s play a game and compare year over year growth instead of cherry picking months.

According to your logic, gold was a terrible store of value before ww2. So volatile.

The fact that bitcoin is volatile 13 years into its existence doesn’t mean it will always be that way.

And there’s nothing to suggest the volatility will ever go away either. So, your point is moot.

Peter. You know what would be really cool? Buy a million dollars of each and then report back in 4 years on which of the two stored your value better.

Zoom out, if you are long term investor like I am, you would literally lose money due to inflation and low interest rates if you decided to play your ‘GOLD’ game. Coming to twitter every time there is a correction just shows your stubbornness to accept progress.

Gold is down 4% over the last year and bitcoin is up 150%

What’s that got to do with my point? Very risky assets can rise 150% in a year. But assets that are supposed to be stores of value can’t drop 40% in a few weeks. Bitcoin dropped 20% in 45 minutes over the weekend.

Because bitcoin stores value across time and space, is easier to custody, and can be teleported around the world. All you have is a short-term time bias.

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James

James T, a passionate crypto journalist from South Africa, explores Litecoin, Dash, & Bitcoin intricacies. Loves sharing insights. Enjoy his work? Donate to support! Dash: XrD3ZdZAebm988BfHr1vqZZu6amSGuKR5F

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