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[AudraMiller]

We all understand that gold is a limited resource and as the reserves start to go down, it becomes harder and harder to try and recover the gold and that makes it more expensive. In these cases there is moer specialized equipment that is needed, and therefore the energy usage is higher. This is shown in a recent study that compares bitcoin to gold, showing that bitcoin mining uses around 70 TWh per annum, whereas with gold it is almost double that sitting at just over 130 TWh per annum. This is quite a large difference. Do you think that this just further supports the claim that bitcoin is better than gold?

 

[CyberPreNurse]

Since the energy usage in gold mining is higher than that of Bitcoin, I think Bitcoin is safer to global health and more reliable, but it seems so many high profile Individuals are not in support of it that's why they always discredit it.

 

[AudraMiller]

Since the energy usage in gold mining is higher than that of Bitcoin, I think Bitcoin is safer to global health and more reliable, but it seems so many high profile Individuals are not in support of it that's why they always discredit it.

There are a lot of high profile peopel that are not involved yet, but with each passing day there are more and more investors in these coins like bitcoin that are showing a good future for it. SO i think that it is a matter of time until they see the benefits in these coins,

 

[CyberPreNurse]

There are a lot of high profile peopel that are not involved yet, but with each passing day there are more and more investors in these coins like bitcoin that are showing a good future for it. SO i think that it is a matter of time until they see the benefits in these coins,

Most of them are discrediting Bitcoin citing high energy consumption of mining activities as the reason, but I really doubt them. They have personal reasons for doing this obviously.

 

[Niftyicon]

There is still a large portion of the global population that still support gold over bitcoin and that is not too strange, however, bitcoin seems to be a better bet when the energy consumption of both tools are considered.

 

[Wisdom01]

Well there are more people who are less concentrated on gold mining compared to bitcoin mining , considering the fact of how hard is it to mine and its accesibility , but gold consumes more energy only that less attention ishown

 

[AudraMiller]

Most of them are discrediting Bitcoin citing high energy consumption of mining activities as the reason, but I really doubt them. They have personal reasons for doing this obviously.

I do agree with your statement because since the concern on energy has been raised there has been numerous studies that actually show that bulk of the minign rigs are now being run using green energy systems.

 

[Josemendez]

Gold and bitcoin are quite popular investment and both of them demands energy for their production. But I will prefer bitcoin to gold.

 

[CyberPreNurse]

Gold and bitcoin are quite popular investment and both of them demands energy for their production. But I will prefer bitcoin to gold.

Bitcoin is even more accessible to individuals than gold as the process involved in acquiring it is not difficult as it is the case with gold which is not a common asset.

 

[Wisdom01]

Bitcoin is even more accessible to individuals than gold as the process involved in acquiring it is not difficult as it is the case with gold which is not a common asset.

And its more physical than gold , just that the innovation and development on bitcoin is more than gold , so people are focused on bitcoin on the long and short run

 

[CyberPreNurse]

And its more physical than gold , just that the innovation and development on bitcoin is more than gold , so people are focused on bitcoin on the long and short run

Owning gold is also not an easy task and one would also get some license before mining it in some countries too. Such reasons make people opt for Bitcoin.

 

[Wisdom01]

Owning gold is also not an easy task and one would also get some license before mining it in some countries too. Such reasons make people opt for Bitcoin.

Its never an easy task when you want to get it physically in some countries ,but now its been traded online in some platforms making it easy to buy

 

[Josemendez]

And its more physical than gold , just that the innovation and development on bitcoin is more than gold , so people are focused on bitcoin on the long and short run

Exactly. I just finished watching the live YouTube session between Elon Musk , Jack Dorsey and CathieDwood. They believe bitcoin will change a lot of things

 

[Wisdom01]

Exactly. I just finished watching the live YouTube session between Elon Musk , Jack Dorsey and CathieDwood. They believe bitcoin will change a lot of things

I dont really understand elon musk path tho , i thought he was more in support of dogecoin , and show less or no support to bitcoin am suprise on the youtube session been conducted , but what was his take on bitcoin

 

[Slimdaddy]

Of course Gold is a natural resources why bitcoin is something that one has to mined in order to obtain it and if you check the value in the market you see that goal way more value than BTC.

 

[Josemendez]

I dont really understand elon musk path tho , i thought he was more in support of dogecoin , and show less or no support to bitcoin am suprise on the youtube session been conducted , but what was his take on bitcoin

He believes that bitcoin can help fight off the inflation created by the covid-19 pandemic and that Tesla is going to accept bitcoin again.

 

[Wisdom01]

He believes that bitcoin can help fight off the inflation created by the covid-19 pandemic and that Tesla is going to accept bitcoin again.

Good he is now saying these positive things , atleast giving investors more reason to push the price high , if bitcoin could help fight inflation dont know why some countries are not considering the use

 

[BullyMaguire]

Well bitcoin is better..not just in energy wise but as an investment as well..poor people can't buy a piece of gold as an investment yet we can buy portion of a bitcoin

 

[Brain]

No matter how expensive we think gold is all about people that knows the worth of gold will not relent in investing in it. Maybe in terms of energy consumption as you have stated Bitcoin is more reasonable

 

[ahsan510]

Yes but for now. Once bitcoin take a big fly then everyone will choose bitcoin over gold. Bitcoin has a future and chances of maximum profit in short time is high with the bitcoin than the gold. Bitcoin is increased rapidly as compared to last year.