if it is not obvious yet the game is gold vs bitcoin
competing monies, one will win
my bet is on bitcoin, all in
Discussion
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Even if I have only a few Sats, I have no gold, so it seems that I made my bet. 😂
There are few who say monero should be in this conversation. What do you say to those people?
If Bitcoin becomes as heavily regulated as gold and governments ban non KYC Bitcoin monero will become more popular.
I don't know if it's the answer though, because it's already essentially banned.
They're going to try and make us use some new crypto that they control.
Governments and banks don't want us using Bitcoin or monero, they control neither of them.
You don’t have to use/buy KYC ₿ though. That’s just what some people do.
competing money
most value will accrue to one winner
Monero bros can't seem to understand this
I still hear people say, “What if the power goes out forever?”
Then our way of life is over 🤣
Nooo…don’t you see…? Everyone will naturally just start accepting gold for goods and services! 🤡
mmm that delightful gold story telling slop. falling in love with pet rocks is retarded.
i’m bummed out that merchants will go back to biting gold coins to prove their authenticity when i use them to buy my turkey legs for the renn fest.
Don't trust verify
I would accept beef, chicken, eggs, labour. Just about anything really including gold
Now is the time: sell the rock for BTC at 20oz; 100% discount from ATH of 40oz
I haven’t done it but I think monero is good for swaps to break the kyc of your bitcoin.
Gold is not used as money anymore.
Not for a long time.
It's more like central bank digital currency vs Bitcoin.
Gold is not coming back as money.
yea it’s bitcoin but it’s gold too.
no code to fight over; no updates.
Few.
So you want to hold a percentage gold and Bitcoin as Bitcoin monetizes and gold demonetizee? Because you think there is potential consensus changes?
just think it’s a hedge to have a small amount against the fear. I think it’s a good even against bitcoin for stability with low funds and low bitcoin amount. why do u think bitcoin is orange — like gold?
I could be wrong but the winner is obvious🫣
In the meantime we're heading towards monetary chaos.
The winner won’t be obvious until the shit hits the fan. People will need to experience gold’s weaknesses or see them in other countries before they truly get the difference. Buckle up.
When usd peso price going up, many will compare to gold.
during current downside, most compare against usd (-35%)
vs gold is 51% down.
vs gold is the one that contains signal.
You are preaching to the choir.
I went “all in” in 2020, about 37 seconds after a miner friend flipped me from gold.
Got your back. Beers are always on me.
Ehhh probably but I think that showdown is after Bitcoin matures more.
Ultimately they're gonna keep pulling gold out of the ground. I'm a little worried with all this Blackrock they're gonna want to mint more coins too.
I had a thought recently that Blackrock would one day want to increase the max supply. It could either because they don’t have enough coins to back their obligations or they’re just too addicted to the fiat free money. Either way, it would be really funny to watch them try to fork Bitcoin and get dumped on
The silver market has been quite interesting lately- might be an actual squeeze happening
agree
can’t zap gold
you can zap tether gold on rumble
Can you really?
Yep. Some dude wearing a suit told me this at the Bitcoin Conference.
Interesting 🧐
Was he wearing an orange tie?
I don't remember.
I don’t believe you.
I just remember he wore a gray suit. He told me Rumble planned to integrate Bitcoin, Tether USD, and Tether Gold on Rumble.
I asked him, why don't people just use nostr? He had no idea what I was talking about.
Nostr isn’t for people like him.
I know. Only freedom fighters use nostr. Most people don't seem to have any interest in freedom.
The prefer to choke themselves with a tie and wear constricting clothes for reasons I don't pretend to understand.
Sorry, I mean what I was talking about.
Good thing Plebs will be leading the way with Bitcoin zaps
It's just not your gold
I don't even track the USD price anymore
Plus it’s great bc gold is 15x larger.
I'm glad you said bitcoin
It’s bitcoin backed by gold. Gold is already centralized, And no government can control the majority of supply of bitcoin so they are buying gold to justify printing FIAT to buy bitcoin with. It’s just layers of money not winners or losers, No solutions only trade offs.
Central banks buying gold and adopting stablecoins like idiots. We still got our edge
The battle is generational. Bitcoin will win one funeral at a time. I’m here for the ride, but it may be my children who reap the full benefits. Fine with me.
gold is boomer’s version of bitcoin
If the competition is between hard monies, we have already started winning. But yeah, Bitcoin of course.
But monero is more private bro
Yes and no.. One will certainly outperform the other but both can go up substantially compared to everything else (stocks, real estate, fiat etc)
Sort of like how Western gold demonetized Chinese silver through the century of humiliation. May the hardest money win.
Gold? Not silver? Not copper?
The flight to gold/silver is the classic “third followers” who suspect they need to join the weirdo movement to be cool, but don’t actually know how to be authentic.
I know this response won’t make sense to most…
The collateral is the key. Many forms but not all equal. Just dont get stuck holding the paper IOUs.
Only gold vs bitcoin for store of value, not medium of exchange or unit of account. Gold winning 1 of 3 atm , looks likely to continue winning for 10 years ...
Bitcoin needs to roll out quantum fix before it can beat gold, whether it is a real threat or not ...
I don't see why there can only be one, before the crime of 1873, the US happily used both gold and silver as monies.
Also gold and silver are never going to go away as ornamental and industrial materials which ensures continued demand and thereby at least some viability as a store of value. None of them enable you to trustlessly send small amounts to the other side of the world in an instant so they'll never be able to compete with bitcoin online because a digital IOU on some hunk of metal in someone else's storage just doesn't cut it.
When my friends ask to buy bitcoin off me, I tell them I only sell for precious metals because I think they're equally viable.
So what I'm trying to say is bitcoin and precious metals complement one another and any competition between them is entirely unnecessary.
Bitcoin won't beat gold while the quantum risk narrative exists
That's all it is, a narrative
Yeah, but bitcoin is a narrative too. This one is a contributor to limiting any of the hige capital flows into gold flowing into bitcoin.
Of course, the quantum computing problem should be solved at some point. However, I'd bet my ass that as soon as it's resolved, another FUD will pop up. That's how it's always been in Bitcoin's history - FUD after FUD after FUD.
Maybe, but this one has got traction. Need to whack the moles, if that is what it is, but fixing this one would accelerate adoption
Se computação quântica ameaça o Bitcoin, imagine os papéis de ouro digitais. 🤔
Gold was the best money before the internet.
We don’t live there anymore.
gold isn’t even a competitor and is pushed by a bunch of retards
how are you supposed to p2p it? smelt it every time you transact?
Have you ever heard of a scale?
I also heard about dimensions measurements, XRF and ultrasound as sometimes necessary methods of verification
I do wonder how all that nonsense adds up to a price of every transaction
If you've ever paid with coins, e.g. quarter dollars, it shouldn't be difficult to see how this can be done. For smaller transactions it is less risky to skip verification of every bit of money. For larger transactions it is more important.
If you've ever paid with official government bank notes, you'll see many cashiers treat you like a criminal by running some marker across the bill and holding it up to the light. It takes a few seconds and is usually unnecessary but a similar procedure can be done if there is suspicion.
If one percent of the manpower that has gone into bitcoin-related software and hardware went into automating this kind of precious metals verification, we probably could be using gold and silver today in person with less hassle than bitcoin.
True. But Bitcoin is much more than gold in so many ways. Through its verifiability we’re able to “not trust, but verify “.
This creates a very healthy dynamic whereby incentives are aligned, and people seek harmony within themselves, communities and nature.
Gold is just relatively sound money, which is very good in itself but does not create any relevant cultural shift.
Gold obviously has value, but has not been a money for long ass time, and don’t see it making a comeback in the digital age.
There will always be both gold and bitcoin (and other currencies). There will always be people who want to profit from investing in gold, currencies, et. al. Bitcoiners will never convince everyone on the planet to give up all other currencies.
It will take time. Current narrative is we need both. Long term we do not.
its funny, because for a moment I thought we were fighting on the same sides.
The power if our enemy is successfully sowing division. Which it does. Apparently, quite successfully.
Stake vs. Work…simple choice for me
Gold wins over the past 12 months. Bitcoin wins longer term. https://goldendigital.vercel.app/
Bitcoin wins in any other aspect too. I can bet that any gold holder has a iou instead of a piece of gold. It’s heavy and hard to store, bitcoin wins.
It's not a contest, they both have their uses. But gold is more robust.
That might be the ultimate game, but the way bitcoin wins isn't by competing with gold; it's by competing with visa/mastercard. (et al) Once bitcoin has won that battle, it will have become the de facto king of Store of Value as well.
Said another way: I believe bitcoin has already demonstrated it can co-exist with gold as Stores of Value. Neither money will have defeated the other until it manages to also become a ubiquitous payment network.
I appreciate the self reassuring echo chamber that is Nostr when it comes to BTC and you may well be right. But when it comes to life savings, why not have both in meaningful amounts. I mean how rich do you want to be when you die anyway…..
And you sleep better => Live longer 😉
We can each buy what we wish. I don't expect to go to the store and buy groceries with a gold bar, but I do expect to be able to pay with Bitcoin. So, I know what I'm buying.
When you see gold as analog bitcoin, it begins to make sense.
Bitcoin has already won against gold.
There can be multiple monies. Gold or silver in person and bitcoin online.
Bro zoom out. Look at the 100 year silver graph. Why would you hold an inferior asset. It's a winner take all game.
Zoom out further. Look at the 1000 year history.
The good attributes of bitcoin rest on a foundation of social agreement. The good attributes of gold and silver rest on a foundation of nature.
Time and energy verified is the most natural foundation. Silver vs gold already played out. Gold failed when paper money was created. Bitcoin is now naturally winning. Slowly then suddenly.
Bitcoin is being coopted by the same forces that coopted gold and silver. Custodians, higher layers, ETFs, KYC/AML, treated like a stock for tax purposes, etc. That's essentially "paper bitcoin." All the same stuff that disabled gold and silver as money have happened or are happening.
We say "not your keys, not your bitcoin" and that's correct. By the same logic we can say "not cold hard cash in your hand, not your gold or silver."
Have you tried using bitcoin as money recently? It works great in a few cases but is far more tedious to use than in its heyday.
It has been a while since I used gold and silver as money. It also works great in a few cases but is also far more tedious to use than in its heyday.
I don't have to be anti-gold or anti-silver to be pro-bitcoin and neither does anyone else. We are on the same team. The goal is to get governments out of the money business entirely.
Would you revive silver as payment? I wouldn’t want to receive either. Seems kinda hard to get bitcoin out of it. Fiat is great for that. I can self custody bitcoin and verify it easy. Running a node is easy. Bitcoin is much more easy for me.
Same, but I do think we will go thru a period of bimetalism
my bet is on brass, bitcoin, booze, tampons, nicotine, venison and toilet paper
Nicotine brother!
Two questions end this debate:
1. What institution demonetized gold? Central banks
2. Who is driving the gold bull market? Central banks
How many times can people fall for the same rug pull?
Yeah and for me the strategy looks pretty simple. Trump administration waits for full gold remonetization, revalues balance sheet, gets 1T in liquidity, buys 100 billion Bitcoin, further monetizing Bitcoin.
Why would the US want to monetize gold again, when BRICS are hoarding gold. It makes zero financial sense. The play would be to monetize Bitcoin and have Saylor go around the world to create the seeds of the new T-bill, Bitbond.
Apart from this there will be the AI bubble risk capital moving from AI to the next risk asset. They'll certainly not play gold.
Unfortunately, they don’t have to buy the Bitcoin. They control upstream energy resources and can “acquire/invest” downstream “strategically important” companies like Strategy. In the end, a Treasury Dept eager to acquire Bitcoin will defeat the Fed, I just hope they don’t destroy property rights to do it.
Yeah, I get that. By the way, so you think the Treasury Department will not acquire Bitcoin?
I think they’ll seize it and mine it in secret. Hash rate is no longer sensitive to price and energy costs are going up so they may already be mining it. Bessent slipped when he said they were only going seize Bitcoin not buy it. He walked that back but and went with the “tax-neutral” official talking point. I think they’ll seize sovereign wealth fund may acquire more than the treasury.
Ah, good point. Mining would perfectly fit the situation, with the whole "drill baby drill" energy thing.
Lindy effect vs technical superiority.
Old vs new.
Limited supply vs hard cap.
damn, gold is beating the shit out of bitcoin if we think about that:
how much gold is there? You'd need that number to calculate the market cap, wouldn't you?
My gold node cant verify sorry!! You will need to trust them!!
This year yes
Why do we need only one? The world is much better and stronger with many different forms of sound money… We (as a spices) should newer aim for one thing that solves everything… Many good options strengthens decentralisation…
The gold people have way more capital. They have very short time and nothing new to create.
Also remember 10T is paper gold... Which is almost half of all gold. It's not trivial.
Let me see you make something IRL with zeros & ones...
The other is an actually useful element that is rare.
Gold failed when paper money was created! Lol
I'm not a trader, but I've been wondering if that 80k Bitcoin sale was done to keep us from breaking out against gold
We were about to break the ath and had momentum
no
it is monero against NPCs
Let's further slow the Bitcoin/Gold ratio by letting everyone know non-monetary data is welcome on Bitcoin's blockchain. Let's completely nuke the 80-byte default and change it to, I don't know, how about 0.1 MB? This will make gold stronger against Bitcoin.
Oh wait...
Bitcoin has been losing to gold this entire year.
Nobody buys a cup of coffee with gold
Someone somewhere will do this just to prove you wrong. How do I know? It’s a gift 🎁
always go all in !!!