With the collapse of gold prices to the highest levels, many bitcoin devices are looking for ways to expose precious metals, but they were confronted with some obstacles along the way.
Although material gold is accessed in the form of jewelry, golden bars and coins, many of the industry executives are concerned about aspects such as their quality and liquidity when buying and selling with a higher distinctive than immediate prices.
On the other hand, gold advocates are confident that the precious metal is much easier than purchase than Bitcoin (BTC), given the complexities of storing private keys and a sharp educational curve for new investors.
Bitcoin and Gold are available in the form of symbolic assets, the money traded on the stock exchange (ETFS) and other stock tools, but the issue of possessing these assets in the physical model reveals some differences.
Society: Bitcoin buying easier and faster
“Buy Bitcoin is much easier and faster than buying material gold,” said Ross Shimeliak, co -founder of the distinctive symbol platform, told Cointelegraph.
He pointed to the availability of instant bitcoin and a 24/7 contest, and there is no need for a basement, while gold is associated with additional costs such as transportation, storage, verification and resale.
Adam Louie, head of the producer at ComposieCure, agreed that the purchase of material gold is subject to many additional challenges and costs.
“The first is to maintain quality,” Lowe said, “The first is to maintain the quality.”
Related to: Bitcoin might compete with inflation during the next decade – Adam Odeh
“Selling liquidity also represents a problem where you have to find a buyer and is likely to pay a discount for the market price for an ounce,” adding that the bitcoin is self -warehouse does not have any of these problems.
In addition to limited liquidity, retail investors in the differences in the face of material gold, Shimeliak said, where they have to buy often higher than the market price for gold.
Gold Lawyer: Bitcoin self -reserve
Unlike Crypto investors, traditional investors and analysts (Traffi) are not very enthusiastic about Bitcoin’s self -friction opportunities.
“It might be very easy to buy Bitcoin if you have everything already prepared, but if you don’t do it, this is very difficult,” said Rafi Farber, publisher of the Marketplay End, who focuses on gold, for Cointelegraph.
Farber, who has emerged as one of the largest critics of Bitcoin, pointed to challenges for investors about your bitcoin self -pelvis, which requires holders of storing private key or losing risk in full safe.
While dealing with a self -portfolio, users should “remember a series of random words or copy and put them in safe, then copy and paste the moisture icon,” said Farber. He added: “And if you lose any of the symbols or the energy comes out for any reason it includes.”
Farper’s fears are not without self -challenges. Trezor, one of the most prominent providers of self -friction, admits that the ability to use is still one of the main issues that self -fixed portfolio faces.
While some tried to provide simplified options for self-fraud, others insist that keeping a private key is the only way to have a already encoded currency, which requires learning curve-but does not come without its own costs as well.
Is Bitcoin a direct competitor for gold?
On the other hand, material gold is “very easy to buy”, as Farber said, which indicates options such as coins or jewelry stores.
“Yes, it is easy to buy a golden currency in a jewelry or coin store – but this does not mean that you have investigated a sound,” SHEMELIAK responded from Stobox: “
“Without the assigned origin, a suitable examination, safe storage, and a liquid reselling market, you have been likely to buy souvenirs, not a dangerous store with valuable.”
“In contrast, digital assets such as bitcoin or distinctive gold are transparent, liquidity and verification.”
Shemeliak Bitcoin and Gold do not see as direct competitors as well.
“Gold will always have a historical value – but Bitcoin builds a financial infrastructure over the next hundred years.”
At the time of publication, the price of instant gold reached 3327 dollars, an increase of approximately 27 % on an annual basis (YTD) as it continues to break the new high levels, According to To TradingView.
The image is less attractive to Bitcoin, which reached new levels of about $ 110,000 in December 2024. Bitcoin fell by 10 % YTD, trading $ 84,525 per publication, According to To Coingecko.
magazine: Financial nihilism ended in encryption – it’s time to dream again
Related Articles
