Bitcoin is like gold

[Michar1 1693]

Billionaire owner of the NBA's Dallas Mavericks team, Mark Cuban, recently told reporters that Bitcoin is a lot like gold. However, he did not have particularly kind words for any of the assets.

 

Gold has often been compared to Bitcoin. After all, both are considered scarce resources that can function as a kind of "store of value" depending on who you ask. Not surprisingly, then, that many Bitcoin investors tend to be gold investors as well.

 

Billionaire Mark Cuban echoed this same comparison in a recent interview with Kitco News. “They are both collectibles. The value is based on supply and demand. And the good news about Bitcoin is that a finite supply will always be created, ”he said.

 

Cuban, however, is a well-known gold critic. He says that gold enthusiasts are like a "religion" and that he "doesn't see it as an alternative to currency." Although Cuban is not a Bitcoin bull, he has said in the past that it is worth putting some money into BTC. "It's still a big gamble," he said in 2017.

 

The billionaire and sports owner previously told Bloomberg that he does indeed have some Bitcoin. He has previously supported several cryptocurrency projects, including a $ 20 million cryptocurrency venture fund and the sale of digital tokens from a sports betting platform. Cuban seems to be liking blockchain technology, although he has always been into emerging technologies.

 

While Cuban's thoughts may upset some gold enthusiasts, he's generally a mixed bag. His admission that gold is like Bitcoin could be seen as a pejorative, after all, Cuban hates gold. However, he also admits that Bitcoin has a "finite supply" which makes it inherently more valuable.

So, take Cuban's comments however you like. Since Bitcoin is intended to be a 'store of value', any comparison to gold is always welcome.

Edited November 15, 2020 by Michar1

[vitalinho 42]

Fully agreed with you, bitcoin and gold have really a lot in common, even if gold is a real item and bitcoin exist only in internet

[voischevitch 10]

Fully agreed with you, bitcoin and gold have really a lot in common, even if gold is a real item and bitcoin exist only in internet

 

[josy_2105 35]

I consider that bitcoin is much better than gold, they are very similar in principle due to the amount of gold that is theoretically known to exist, because the amount of gold can only be presumed, but it is not possible to have an exact amount of the amount that exists . of this resource, the Another advantage of bitcoin over gold is how easy it is to move it, an ordinary person cannot move 1kg of gold from one country to another without the permits and taxes required in each country, but can go in and out with the same amount in value of bitcoin, without any problem or restriction

[Sinan 29]

Bitcoin is limited so it is next generations gold.

[BigBoss01 0]

I do not agree on this because gold has been a safe haven for investments for centuries. But bitcoin has some risks in itself. Gold is simple, you get it, it will always earn you in the long run, but you should be in the digital platforms of the agenda constantly, not the job to be done by buying bitcoin and waiting.
 

[DS#SAQii 1114]

Basically bitcoin is a virtual money. It is an asset in online terms. But i am fully agreed that it is like gold. In future the value of bitcoins is going to be increase and then there value will be just like gold. Moreover it is a liquid asset so yeah you can trust bitcoins.

[tienda 8776]

13 hours ago, atifbhai said:

yes. bitcoin is like a digital  gold  and won't be used it same ways as traditional currence for at least the next 5 years.bitcoin bulls expects the digital currence price to keep rising as more people pile into idea of adding it to thier portfolios 

Yes @atifbhai in real world we have a physical Gold, in digital world we have Bitcoin as a digital Gold. Both are used the same method for extraction. The physical Gold extraction processes mining required to extract from its ores. The Bitcoin process mining required a special machine mining to be extracted.

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[Cleaner 2549]

2 hours ago, tienda said:

Yes @atifbhai in real world we have a physical Gold, in digital world we have Bitcoin as a digital Gold. Both are used the same method for extraction. The physical Gold extraction processes mining required to extract from its ores. The Bitcoin process mining required a special machine mining to be extracted.

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@tienda right brother..We use gold for our physical purposes.  People usually make ornaments with gold.  And we call Bitcoin digital gold.  Bitcoin is a very expensive currency.  Computers are used to extract bitcoin.  And a lot of heavy equipment is used for gold mining, which is recovered from natural resources.

[Shubham kakade 556]

Yes bitcoin and gold are similar the price of bitcoin and gold are not stable its increase year and year  . Bitcoin  are totally electronic currency its all digitally  gold and bitcoin are best platforms for investing long term

[Bellamy 1065]

The article that you have published referring to these figures is very interesting, although they are not fans of cryptocurrencies, they have believed in Bitcoin, comparing it with gold, which indicates for those of us who do not have Bitcoin in large quantities and for those small investors who hardly They are beginning that by taking Bitcoin as the best option we are taking the right path.

[Abuzar hashmi 544]

Bitcoin has been putting an great impact on the whole world due to its daily increasing demand and its prices .You can easily imagin that most traders usually buy Bitcoin not other currencies ..why..? because of its impact and value.So in my opinion it is better than gold.

[Imranjaved77 6]

Binance is best place where we trade the money I suggest all of you to trade there money to Binance because is is raising place where we got alot of profit from there because of there popularty

[FA19A7BB015 139]

Really bitcoin and gold are famous. Bitcoin are digital currency and gold is real appearance in this world. Bitcoin existing in internet services and gold existing in world.

[Stefan1 12]

I think..Bitcoin and the gold of the world exist to give internet service!

[Joker645 80]

Fully agreed with you, bitcoin and gold have absolutely loads in common, even though gold is a real item and bitcoin exist handiest in net

[Ramz99737 1196]

Bitcoin and gold are very similar to each other, but I think that bitcoin is better than gold,because the whole world is now turning to electronic currencies, and Bitcoin will be one of the most important of these currencies.

[Liliz 529]

Yes I agree, Bitocin has an high value and it's one of traders and investors priority in terms like Gold. Their comparison is right because they are both luxury, in terms of speed the way they affect market prices might be kind of different in one form or the other bet they are both ranked as one of traders daily meal that we cant do without because they both have a great influence in the society and they both have a great value as well.

[sp19a1ma034 241]

Bitcoin is the exchange of money easily on internet but the gold will change in money in a market.bitcoin value increase day by day

[Sherrybhai 385]

As indeed,bitcoin and gold are says to be same .. because gold is your real life existed asset but Bitcoin is your online crypto currency asset which is really exist also we can say that they are same. Rates are fully depends on situation.

Edited November 16, 2020 by Sherrybhai
Spell checking

[Relium 424]

bitcoin is not like gold, bitcoin is better then gold. bitcoin has a really big marketcap and u can send it whatever time that u want to anywhere in world. u do not need any bank account for it. it is secure and anonym

[Alexbhatti 1492]

Hi mate, it is a good information. Bitcoin might be considered as a gold but from my opinion, it is quite difference between gold and Bitcoin. The price fluctuations of Bitcoin is high as compared to the Gold. You can see differnce between there price fluctuations at different trading websites.

[Viscount 1357]

That is a good comparison since they both had high value. Just like how you need to mine gold, you also do mining with bitcoin. They are hard to get yet having one would definitely change your entire lives cause of the profit you'll get.

[Shubham kakade 556]

Yes dear i really with your thought the bitcoin and gold are same in future becouse od its market value is increasingly day by day and its users  are increasing fast its like a gold i think both are very strong in feature 

[Mir Hamza 2888]

I agree with you. As you talked about that bitcoin is like a gold, these both are very expensive. As you know, the price of both bitcoin and gold is increasing with the time. And there are many people who invest in bitcoin and gold, and then as you know that their price keeps going up and not decreasing, thus they get the benefit from them. But the only difference between bitcoin and gold is that bitcoin no longer exists in real condition and while gold is present in its real conditions. Apart from that we can use bitcoin only and only on the internet.