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Gold or Bitcoin?

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January 21, 2014 – Comments (14) | RELATED TICKERS: BIT

Would you rather gold or bitcoin?  Gold you can touch.  Gold is finite.  Gold can be worn.  Gold inspired Goldfinger.  Nothing sexier than flipping gold coins (tho women prefer diamonds).  Yet there is this virtual "thing" called bitcoins.  I did try to buy it when it was selling around $200 but the site didn't take Master Card.  Ah well a lost opportunity.  Been there done that and I suspect will again.

But in the end which would one prefer, something tangible or something intangible? I vote tangible but that is me.

14 Comments – Post Your Own

#1) On January 21, 2014 at 12:57 AM, Valyooo (99.41) wrote:

I can't touch bonds, money, or  stocks but I would still prefer them over  dog turds , which are tangible ;). Not being a cockface, but tangible doesn't mean better than intangible. Bitcoin sucks because the government can and would shut it down if it got too high

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#2) On January 21, 2014 at 8:37 AM, HarryCarysGhost (99.69) wrote:

but the site didn't take Master Card

And thats why you should be using a Visa. C'mon man I need those swipe fees.

As for Bitcoin, I wouldn't touch them, total house of cards, more on Valy's point of Government intervention. My understanding is the users of Bitcoin don't pay taxes on them. Won't be long before the IRS takes them down hard. 

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#3) On January 21, 2014 at 9:25 AM, jiltin (28.26) wrote:

I am conservative attitude with this. I vote for yellow, do not even consider any bitcoin.

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#4) On January 21, 2014 at 11:15 AM, Mega (99.96) wrote:

They serve different purposes.

Gold's purposes are decorative, stable value and a little bit of speculation. Bitcoin's purposes are anonymous online payments and a lot of speculation.

I'm not particularly interested in either.

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#5) On January 21, 2014 at 1:14 PM, ryanalexanderson (< 20) wrote:

I think that once people truly understand that there is precisely zero difference between bitcoin and:

LiteCoin

Dogecoin

PPCoin

MasterCoin

ryanalexandersonCoin (look for it's triumphant arrival in 2014!)

...and the 20+ other alternatives listed in this wiki, they will realize that bitcoin is, indeed, nothing but marketing. 

Gold, on the other hand, has no substitute except silver. True, it generates no money. But it has a small place in a well-balanced portfolio.  

 

 

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#6) On January 21, 2014 at 4:51 PM, drgroup (69.08) wrote:

Tried to buy a slurpy at cumberland farms with nitwitcoin and had no luck. Bitcoin had same results. Guess I'll stick to using gold to buy my slurpies....

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#7) On January 21, 2014 at 4:57 PM, awallejr (83.86) wrote:

I can't touch bonds, money, or  stocks

Sure you can. But as for bitcoin I simply don't trust hackers.

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#8) On January 22, 2014 at 11:35 PM, Valyooo (99.41) wrote:

How do you touch stocks, bonds, and money?

 

you can touch a bond or stock certificate, but that's a. Certificate of an intangible thing.  Same with dollars and money.  You can also print out a piece of paper showing your bitcoin ownership.  It's all the same.

 

if you don't trust hackers you must not use banks either then since they use electronic payments.  

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#9) On January 29, 2014 at 3:11 PM, Mary953 (76.47) wrote:

Awallejr,

When I clicked to follow this post, it immediately rolled me to a pop-up ad telling me about "BitCoins - The Currency that is Overwhelming Entire Nations"  Hmmm - and here I thought it was the currency that I most particularly do not want to own.  Just thought you might find it interesting that they are piggybacking a bit coin ad on the back of your post.

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#10) On January 29, 2014 at 3:33 PM, awallejr (83.86) wrote:

Odd I don't see it when I click on my link Mary.  And Val you gave your own answer they are represented as a piece of paper.  I go to my local deli and pul out money from my wallet to pay.  I am certainly touching it. The copied bitcoin isn't a bitcoin it is just a worthless picture.  And actually I refuse to do any kind of online banking.

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#11) On February 25, 2014 at 6:42 PM, awallejr (83.86) wrote:

MT. Gox shut down.  Rumor had it they were hacked and had 750,000 bitcoins stolen.  As I said earlier I like things I can hold in my hand and I don't trust hackers.  Buyer beware.  Case on point.

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#12) On February 25, 2014 at 6:49 PM, awallejr (83.86) wrote:

I guess in hindsight I am glad Mt Gox didn't take Master Card heheh,

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#13) On March 04, 2014 at 5:48 PM, awallejr (83.86) wrote:

And now Flexcoin crashes having all their coins hacked away.

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#14) On May 30, 2014 at 3:08 PM, ilovestocks85 (46.83) wrote:

http://caps.fool.com/Blogs/mely-the-bitcoin-miner/973411

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