Wasn't Bitcoin the "new gold"?

Google / Consultant
BTCh8r

Go to company page Google Consultant

 BTCh8r
Feb 24 16 Comments

Stocks are tumbling and people looking for safe assets. So why BTC has gone down recently while gold prices moved up?

TC 300K

16

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 TOP 16 Comments
  • Meta
    SquallLeo

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    SquallLeo
    Itā€™s more like fools gold šŸ˜‚
    Feb 24 1
  • Google
    aaaagg

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    aaaagg
    Bitcoin is and has always been speculative
    Feb 24 0
  • VMware
    InfinitešŸæ

    Go to company page VMware

    InfinitešŸæ
    Bitcoin is still ~36k USD.

    If someone would have told you that 5 years ago, you wouldn't believe them.

    Also, gold is around the exact same price as it was ~10 years ago, it didn't even serve as a hedge against inflation.
    Feb 24 2
  • PayPal
    dojdms

    Go to company page PayPal

    dojdms
    Wow , I didnā€™t realize something like a new decentralized tech network got so much attention from everyone (including regulators) so much adoption from every entity (including institutions) within 12-13 years . It was amazing to see Bitcoin went from zero to $30k+. Looks like most commentators and critics havenā€™t studied it. I am learning about the problem it is trying to solve. Itā€™s worth learning about Bitcoin.
    Feb 24 1
    • Google / Consultant
      BTCh8r

      Go to company page Google Consultant

       BTCh8r
      OP
      Blockchain technology has some legitimate uses, which is unrelated to the fact BTC is a speculative asset. Telling people they "don't understand" is a ridiculous and fallacious argument used by BTC community in lack of better answers.
      Feb 24
  • Apple
    abaixic

    Go to company page Apple

    abaixic
    BTC has no real value in the world unlike gold, and is not accepted historically as currency unlike gold.

    At the same time, it is heavily reliant on global cooperation and is very susceptible to easily placed government restrictions on internet (you donā€™t even have to physically enforce them, itā€™s dirt easy to cut off access to anything digital while the use of gold is much more difficult to policeā€¦). BTC is extremely fragile and only has worked in our open borders hyperconnected economy. It falls apart when placed in the historical mean of geopolitical polarization and conflict.

    ā€œStore of valueā€ my ass. Itā€™s just another financial asset to be traded.
    Feb 24 0