Inside Gold vs. Bitcoin: What Can Save You?

Published on
October 21st, 2019
Duration
13 minutes

Inside Gold vs. Bitcoin: What Can Save You?

The One Thing ·
Featuring AK

Published on: October 21st, 2019 • Duration: 13 minutes

This week, AK examines the history of money, breaks down the role of bitcoin and gold in the monetary system, and reveals what can save your portfolio in the next downturn - gold or bitcoin?

Comments

Transcript

  • DC
    Daniello C.
    22 October 2019 @ 05:22
    Both good points. I'd suggest a split to manage risk but keep upside. Perhaps 75 gold, 25 bitcoin.
  • jy
    jose y.
    22 October 2019 @ 02:49
    nice maybe i could carry 300k dollars of gold on my pocket to buy a home, or move it from one country to another such a painful thing to do
    • RS
      R S.
      22 October 2019 @ 06:08
      Or hold a thumbdrive with $300,000 of USDC or GUSD any audited stablecoin. No need for bitcoin for portability.
  • jy
    jose y.
    22 October 2019 @ 02:47
    i remember commodore 64 , fun times
  • CH
    Chris H.
    21 October 2019 @ 22:46
    Bitcoin was once the future of money now it has morphed into "digital gold" after everyone realized that the number of transactions per second could never support a global payments system and virtually no one in the real world accepts it as payment. It needs fiat money for anyone to be able to spend it, the only problem is that all its proponents argue that fiat is going away.
    • EF
      Eric F.
      22 October 2019 @ 04:07
      For now Chris, maybe another digital currency or add-on enables payment? I have my doubts but CBs / governments are so wrecking fiat that I can see some value in crypto. Sizing is crucial though - keep it small.
  • FS
    Fagundes S.
    21 October 2019 @ 21:00
    I have both gold and BTC and can tell you, Gold is a big pain in the ### in many ways. Self-custody requires a lot of care and if you delegate it to someone else (in storage or via something like ETFs), there are risks still. Plus if you want to take it with you while travelling/moving, it's not the same as carrying a lot of money in a few words you memorized. Bitcoin is going to disrupt the gold market bigtime. Both are necessary, but BTC is solving many limitations of gold. 50% BTC / 50% gold is my thing now, reducing gold even lower than that.
    • RS
      R S.
      22 October 2019 @ 06:11
      You can just buy tokenized gold, Paxos and Digix and many others offer high quality 1:1 gold-backed tokens. No need for bitcoin if you just want to cryptographically own gold.
  • KS
    Karen S.
    21 October 2019 @ 20:55
    is the video working for anyone else?
  • GT
    Greg T.
    21 October 2019 @ 19:11
    Very disappointing to see so much emphasis on this website about bitcoin and gold. Bitcoin is nothing more speculation. It's like buying a lottery ticket. Nothing more. Gold is slightly above that. You can make a case that gold could be a small case of your portfolio, but it would be small - and not justify spending much time over. Do the owners of this website understand cash flow generating businesses is how real wealth is built? Apparently not.
    • EF
      Eric F.
      22 October 2019 @ 04:10
      People who bought BTC 5 years ago would disagree with you. People across a variety on South American countries would also disagree with re gold. It’s called diversification.
    • RS
      R S.
      22 October 2019 @ 06:13
      Bitcoin reached $200 billion. The Dutch East India Company hit $4.7 trillion. Just because something has gone up for many years, doesn't mean it's legitimate, nor that it's not ultimately going to $0.
    • GT
      Greg T.
      22 October 2019 @ 21:57
      Eric. It’s a lottery ticket. So someone got lucky maybe if they held. And lots of others bought at prices probably never be seen again. It’s like buying tulip bulbs. No intrinsic value. You missed the point.
  • RS
    R S.
    21 October 2019 @ 07:33
    Anyone who cares about bitcoin should understand that it is owned by five Chinese companies BTCtop. AntPool, ViaBTC, Btc.com, ViaBTC, and F2pool. The handful of men who control these five companies were curiously unaffected by Xi's brief 'ban' on crypto last year and today have the worldwide exclusive power to determine which chain is the real bitcoin, allowing them to unilaterally decide on which transactions to approve and which version of history will survive. Five companies control bitcoin's hashpower. If you add Russian state companies, bitcoin's hashpower oligopoly rises toward 80%. Decentralization is a marketing myth.
    • RS
      R S.
      21 October 2019 @ 07:37
      Update as of September 2: China-based Bitcoin mining pools BTC.com, F2Pool, AntPool, Huobi, Poolin, BTC.top, ViaBTC, and Bixin, altogether make up approximately 76% of Bitcoin’s total hashpower today. Looks like Xi's friends have been busy.
    • FS
      Fagundes S.
      21 October 2019 @ 13:06
      BTC centralization is a myth. Miners are not the masters of the network, they are their slaves and must submit to the social consensus. This was already obvious in 2017, resulting in the (pretty much failed) BCash fork. Sure, only a few mining pools control the majority of the hashrate, but those are pools made up of individual miners who can switch away from the pool, depending on incentives - no miner wants to endanger the network, regardless of the pool they're in. Slushpool controls 10% of the hash rate, but if you look at Slushpool’s stats page you’ll note that they show 16k individual miners contributing to that hash rate. Could Slushpool start acting maliciously? Yes, but then miners will go elsewhere. There is in fact precedent, when in 2014 the ghash.io mining pool approached 51% hash rate and miners left in order to avoid centralization. Gold markets are heavily manipulated and the most centralized of them all, even excluding central banks. Bitcoin/BTC is the safest bet for the next decade. Gold won't go the way of Nokia and Kodak but it's going to lose A LOT of its cap to BTC in 10 years - in the same way it lost the past ten. Bitcoin is up 83,331.79% since gold topped out at $1800 seven years ago. What's it like hodling a -20% gold bag for seven years? Shorting BTC won't come cheap.
    • RS
      R S.
      22 October 2019 @ 06:15
      The same astronomical percentage gains are true for any early investor in any bubble. Dutch East India hit $4.7 trillion. Then, $0.
    • TJ
      Terrence J.
      25 October 2019 @ 02:52
      What is really ironic about The bitcoin Chinese connection is the government there has been buying up tons of gold for many years and I don’t think they’ve purchased any type of bitcoin or cryptocurrency which makes me think this is nothing but a Ponzi scheme
    • AW
      Adam W.
      27 October 2019 @ 08:24
      This 'bubble' will outlive us all.
  • PB
    Pieter B.
    21 October 2019 @ 07:11
    Great job again AK!
  • GG
    Geoff G.
    21 October 2019 @ 07:08
    Looking forward to seeing how bitcoin performs in a time when almost everything isn’t going up in value.