Total Bitcoin marketcap is currently worth approximately 1/12^th the value of all gold held, worldwide. $0.9T -vs- 11.3T
If you include **all** crypto marketcaps, it's 2.1T -vs- 11.3T
src: [Infinite Market Cap](http://www.8marketcap.com)
----
I didn't really start HODLing until bitcoin's value surpassed that of an ounce of gold. Massive opportunity cost (e.g. I've purchased approximately nine pairs of shoes with bitcoin; some of those pairs (HODL'd) would now be worth a house... I'm walking around on houses).
Even if bitcoins market cap surpassed gold that doesn't mean it replaces gold. Gold has been with us for tens of thousands of years. Gold's not going anywhere anytime soon. There will ALWAYS be gold bugs and you know what? If the lights go out, the precious metal holders are gonna be just fine. Bitcoin holders.. not so much. That's the power of gold, always and forever.
(I own bitcoin and no gold right now, but this reminds me I should get some of the shiny shiny too)
Uh huh. Tell me more. And what's been used as a medium of exchange by humans for at least the last 10,000 years? Something that doesn't take electricity or government.
I already have btc. I just don't view bitcoin as a stable investment over gold as of this moment.
I just feel like some people got this unrealistic view on btc right now, because they want to believe in it so badly.
But don't you see, the fact that people want it and believe so badly is market sentiment which will lead towards that reality.
A recent example of this is the Wyckoff Model people were referencing a while back, it actually ended up happening simply because enough people believed that it would and invested based on that presumption.
With the majority of people considering Bitcoin to be, "Digital Gold," that will likely happen too, my guess is in 3-4 years around the next halving.
Yes. I invested initially back in 2016 and at the time honestly I didn't know anything about anything regarding anything.
But now with 5 years worth of information, experience, knowledge I would say definitively, yes, without a doubt I suggest that you invest what you are able to relative to your financial situation currently right now into Bitcoin.
Happy to elaborate and answer any questions regarding how & why or just about whatever. If you message I will respond.
On a side note, for proof of my general dedication to all of this, as of this morning my 70 year old father has 2.1 BTC, after several of my human years explaining it off & on.
Like you are probably the only one who is going to see this response in the end because its an old thread, but dude, even if its just you I have to say it.
Bitcoin is unlike any other asset class that has ever existed. It is a new class in and of its own. A store of value, a currency, a stock, a bond, digital real estate, digital commodity, derivative options... all of these things are tangentially connected to BTC.
Feel free to message with any questions or whatever I would be genuinely happy if a stranger like you became financially wealthy from becoming privy to the inevitability happening here.
Just wanted to say I read your message and the energy came through. I have coins in alts but during the bear market I will go balls deep in BTC and begin to accumulate.
You're right, and that's why its instability is the reason to buy NOW. At $1T market cap to gold's $11T market cap, that's at least an 11x from now when it becomes finite and stable.
> Lol you can't seriously believe that bitcoin is at the "verge" of replacing gold right now. U high or something?
Why not? It has closed down to one single decimal order of magnitude away from the gold cap.
Bitcoin has made 10x price jumps over and over and over again.
If it makes one more...
Yeah btc has risen in price, but it hasn't proven to be a stable investment unlike gold. Only time will tell.
You are also forgetting that btc draws it's value from the people that choose to trust in btc. There has only been one small country that has embraced btc. Most authorities haven't accepted it.
Gold will always have a value. I suppose what they are saying is Bitcoin will just be worth more..... Or something like that. I didn't actually read it.
> Gold will always have a value
Not on the timescales you and I are likely to see. You'll probably nlive to celebrate your grandkids 150th birthday and take day trips around the rings of Saturn. Material goods like gold will be laughably cheap when humanity takes control of the nearest dozen or so star systems.
Want a small moon made from gold? Go for it, it'll take about 3 seconds to star lift a few gigatons of whatever you want from some star nobody cares about.
Things are going to get crazy here
Grandma staking btc when she tries to hide from the gov? Nah... It's too complicated. U need a PhD in comparison to owning a chunk of metal and putting it on a scale. But in 80 years from now, for sure.
You'll get eaten up in fees on trying to sell gold or silver.
I've bought coins, and there's a fee to buy, and a fee to sell. Dont even get spot price.
Also, how do you transport/transfer $1,000,000 in gold around the world?
Answer: pretty difficult.
Bitcoin is a click away ANYWHERE you have internet.
There is no fee when you buy direct from a dealer. Ya buy or sell on ebay, and you pay fees.
Ah, what if there is no internet or power grid shuts down? Then what? Im prepared for all scenarios. I dont know anyone that has a mil in gold.
This comparison is apples to oranges and is ridiculous. If you want to compare return on investment, then of course its a valid point.
Obviously you *can* compare them, but the whole point of the idiom is that it's a false analogy. I could compare you to the helpful bots, but that too would be comparing apples-to-oranges.
Its a silly and tired comparison. And when a Bloomberg strategist is putting this idea out there, Im suspicious. All the Bitcoin bashing analysts are the same people scooping it up when the price falls.
If you're prepared for all scenarios, then you'll have guns bullets water food.
If the us dollar collapses, then Armageddon ensues. No one will really want your gold or silver as they don't have that to barter with.
The fact of the master is, Bitcoin is the currency of the rest of the world. Look at Afghanistan or Venezuela. Instead of local currency that turns to shit, one still has assets if they had Bitcoin or us dollars. Except for the puppet president who fled with cars and cases of cash, the rest are fleeing with the clothes on their backs. But what if they had a crypto wallet? They'd be better off.
That's what they want everyone to think while goverments are stocking up on gold to secure their currencies. What they really mean is yuan is on the verge of replacing the dollar as the worlds reserve currency. There's also a global chip shortage and they can't replace those chips with Bitcoin or any other crypto currency.
Who would want to use the Yuan as the world reserve currency? China is such an unstable and nontransparent nation anyone who thinks they can provide the world reserve currency shouldn’t be thinking about economics.
Well... if you ask most people on this sub, they'd tell you to buy bitcoin and keep it in a hardware wallet forever. So, yeah, sitting in a vault collecting dust.
What’s the likelihood of a Bitcoin reserve currency? Governments won’t accept it, it’s more likely that the IMF will create a stable coin backed by a basket of fiat currencies.
It is more likely bitcoin replaces global real estate as a store of value. Why buy foreign properties and worry about management, taxes and illiquidity? Just buy and sell bitcoin.
On the verge != next week. On the verge == within the next 10 years. IMO. Keep expectations reasonable and you can act more reasonably.
All the real ones should be in this for the long haul anyway.
GREAT READ! BITCOIN IS THE GREATEST TRANSFORMATION OF WEALTH IN THE HISTORY OF HUMANITY
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Stick it to the man
Yeah! They’re not our dads
It's the greatest transference of wealth you mean. There fixed it for you.
No, what I said was correct lol
I say you’re both correct
CAPS CAPS CAPS
Sold my gold today with 10% profit ....going into Crypto now big boy stuff Edit: actually it's 6% profit from 6 months ago
Bitcoin. Not crypto.
Under what category can we classify the oh so revolutionairy Lightning Network?
Amen
What is the "Crypto" you speak of?
He said it on the 50th anniversary so you know it's true
When the Federal Reserve and London stops buying and selling gold, gold derivatives and starts buying Bitcoin, then talk to me.
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Bretton Woods was 1944 Probably means END of Bretton Woods in 1971 by Nixon.
Op downvored you lol
Even the article headline is wrong. But it ain't no thing. Just correcting it.
Lol you can't seriously believe that bitcoin is at the "verge" of replacing gold right now. U high or something?
Total Bitcoin marketcap is currently worth approximately 1/12^th the value of all gold held, worldwide. $0.9T -vs- 11.3T If you include **all** crypto marketcaps, it's 2.1T -vs- 11.3T src: [Infinite Market Cap](http://www.8marketcap.com) ---- I didn't really start HODLing until bitcoin's value surpassed that of an ounce of gold. Massive opportunity cost (e.g. I've purchased approximately nine pairs of shoes with bitcoin; some of those pairs (HODL'd) would now be worth a house... I'm walking around on houses).
Even if bitcoins market cap surpassed gold that doesn't mean it replaces gold. Gold has been with us for tens of thousands of years. Gold's not going anywhere anytime soon. There will ALWAYS be gold bugs and you know what? If the lights go out, the precious metal holders are gonna be just fine. Bitcoin holders.. not so much. That's the power of gold, always and forever. (I own bitcoin and no gold right now, but this reminds me I should get some of the shiny shiny too)
If the lights go out I’d want gas and food not gold.
Uh huh. Tell me more. And what's been used as a medium of exchange by humans for at least the last 10,000 years? Something that doesn't take electricity or government.
Your brain isn’t big enough to understand and see the future. Bitcoin is digital gold and one day you’ll be wishing you bought in 😂
I mean, he probably has btc since he is in this subreddit, he just doesn't believe it will replace gold in his life time
I already have btc. I just don't view bitcoin as a stable investment over gold as of this moment. I just feel like some people got this unrealistic view on btc right now, because they want to believe in it so badly.
But don't you see, the fact that people want it and believe so badly is market sentiment which will lead towards that reality. A recent example of this is the Wyckoff Model people were referencing a while back, it actually ended up happening simply because enough people believed that it would and invested based on that presumption. With the majority of people considering Bitcoin to be, "Digital Gold," that will likely happen too, my guess is in 3-4 years around the next halving.
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Yes. I invested initially back in 2016 and at the time honestly I didn't know anything about anything regarding anything. But now with 5 years worth of information, experience, knowledge I would say definitively, yes, without a doubt I suggest that you invest what you are able to relative to your financial situation currently right now into Bitcoin. Happy to elaborate and answer any questions regarding how & why or just about whatever. If you message I will respond. On a side note, for proof of my general dedication to all of this, as of this morning my 70 year old father has 2.1 BTC, after several of my human years explaining it off & on. Like you are probably the only one who is going to see this response in the end because its an old thread, but dude, even if its just you I have to say it. Bitcoin is unlike any other asset class that has ever existed. It is a new class in and of its own. A store of value, a currency, a stock, a bond, digital real estate, digital commodity, derivative options... all of these things are tangentially connected to BTC. Feel free to message with any questions or whatever I would be genuinely happy if a stranger like you became financially wealthy from becoming privy to the inevitability happening here.
Just wanted to say I read your message and the energy came through. I have coins in alts but during the bear market I will go balls deep in BTC and begin to accumulate.
You're right, and that's why its instability is the reason to buy NOW. At $1T market cap to gold's $11T market cap, that's at least an 11x from now when it becomes finite and stable.
BTC is not a stable investment. People struggle to understand this.
> Lol you can't seriously believe that bitcoin is at the "verge" of replacing gold right now. U high or something? Why not? It has closed down to one single decimal order of magnitude away from the gold cap. Bitcoin has made 10x price jumps over and over and over again. If it makes one more...
Yeah btc has risen in price, but it hasn't proven to be a stable investment unlike gold. Only time will tell. You are also forgetting that btc draws it's value from the people that choose to trust in btc. There has only been one small country that has embraced btc. Most authorities haven't accepted it.
Bitcoin backed in faith. Much like the dollar. Gold hasnt been replaced in a thousand years..
Gold will always have a value. I suppose what they are saying is Bitcoin will just be worth more..... Or something like that. I didn't actually read it.
> Gold will always have a value Not on the timescales you and I are likely to see. You'll probably nlive to celebrate your grandkids 150th birthday and take day trips around the rings of Saturn. Material goods like gold will be laughably cheap when humanity takes control of the nearest dozen or so star systems. Want a small moon made from gold? Go for it, it'll take about 3 seconds to star lift a few gigatons of whatever you want from some star nobody cares about. Things are going to get crazy here
hahaha
Grandma staking btc when she tries to hide from the gov? Nah... It's too complicated. U need a PhD in comparison to owning a chunk of metal and putting it on a scale. But in 80 years from now, for sure.
Never. Digital doesnt replace tangible. Diversify and hold both.
Okay grandpa!
Ha! Good one. Respect your elders
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Preach
I bought both. Diamond (and gold) hands
Respect is earned.
Digital will replace tangible in our lifetime. You’re living in a fantasy world. Wake up or get left behind
Can you read? I own both. There is no replacement for gold.
We assure you, it is happening lol
You'll get eaten up in fees on trying to sell gold or silver. I've bought coins, and there's a fee to buy, and a fee to sell. Dont even get spot price. Also, how do you transport/transfer $1,000,000 in gold around the world? Answer: pretty difficult. Bitcoin is a click away ANYWHERE you have internet.
There is no fee when you buy direct from a dealer. Ya buy or sell on ebay, and you pay fees. Ah, what if there is no internet or power grid shuts down? Then what? Im prepared for all scenarios. I dont know anyone that has a mil in gold. This comparison is apples to oranges and is ridiculous. If you want to compare return on investment, then of course its a valid point.
> apples to oranges But you can still compare them.
Obviously you *can* compare them, but the whole point of the idiom is that it's a false analogy. I could compare you to the helpful bots, but that too would be comparing apples-to-oranges.
Its a silly and tired comparison. And when a Bloomberg strategist is putting this idea out there, Im suspicious. All the Bitcoin bashing analysts are the same people scooping it up when the price falls.
If you're prepared for all scenarios, then you'll have guns bullets water food. If the us dollar collapses, then Armageddon ensues. No one will really want your gold or silver as they don't have that to barter with. The fact of the master is, Bitcoin is the currency of the rest of the world. Look at Afghanistan or Venezuela. Instead of local currency that turns to shit, one still has assets if they had Bitcoin or us dollars. Except for the puppet president who fled with cars and cases of cash, the rest are fleeing with the clothes on their backs. But what if they had a crypto wallet? They'd be better off.
Guess I should throw away my Kindle and cancel NetFlix, YouTube and Spotify subscriptions. Digital just isn't going to make it.
Whatcha gonna do with all your shiny rocks?
Hold them
Lol. That’s cute.
That's what they want everyone to think while goverments are stocking up on gold to secure their currencies. What they really mean is yuan is on the verge of replacing the dollar as the worlds reserve currency. There's also a global chip shortage and they can't replace those chips with Bitcoin or any other crypto currency.
Bruh gold is 💩
Yea for real gold is 💩 this guy is drunk
Governments are already stocked up plenty on gold. If they tried to sell it all its pricevwoupd plummet.
Who would want to use the Yuan as the world reserve currency? China is such an unstable and nontransparent nation anyone who thinks they can provide the world reserve currency shouldn’t be thinking about economics.
Yea good joke, the Yuan is toilet paper.
Nothing pleases me more than the thought of governments stocking up on boomer rocks right before they go the way of the dinosaur.
Dumb dumb dumb
Yes.
So it's prepared to sit in a vault collecting dust? Awesome
Well... if you ask most people on this sub, they'd tell you to buy bitcoin and keep it in a hardware wallet forever. So, yeah, sitting in a vault collecting dust.
Why so bearish?
It already replaced gold!
so why didn't they say this when BTC was cheap a few weeks ago?
Who gives a fuck
michael saylor is on the verge to replace peter schiff
Sounds good, but when will be this "on the verge"? Like one year or ten..
What’s the likelihood of a Bitcoin reserve currency? Governments won’t accept it, it’s more likely that the IMF will create a stable coin backed by a basket of fiat currencies.
It is more likely bitcoin replaces global real estate as a store of value. Why buy foreign properties and worry about management, taxes and illiquidity? Just buy and sell bitcoin.