{"id":118789,"date":"2017-07-02T12:30:58","date_gmt":"2017-07-02T10:30:58","guid":{"rendered":"https:\/\/mygaming.co.za\/news\/?p=118789"},"modified":"2017-06-30T14:49:36","modified_gmt":"2017-06-30T12:49:36","slug":"the-difference-between-gold-and-bitcoin","status":"publish","type":"post","link":"https:\/\/mygaming.co.za\/news\/business\/118789-the-difference-between-gold-and-bitcoin","title":{"rendered":"The difference between gold and Bitcoin"},"content":{"rendered":"<p>There is one big difference between gold and Bitcoin as an investment \u2013 gold has been a treasured commodity for a very long time, while Bitcoin does not have the same track record.<\/p>\n<p>This is according to Wayne McCurrie, a senior portfolio manager at Ashburton Investments.<\/p>\n<p><a href=\"http:\/\/www.businessdaytv.co.za\/shows\/stockwatch\/2017\/06\/28\/stock-watch-part-1\" target=\"_blank\" rel=\"noopener\"><strong>Speaking on BusinessDay TV<\/strong><\/a>, McCurrie said gold is ultimately a Bitcoin, because there is limited supply and strong demand.<\/p>\n<p>Gold and Bitcoin are also similar because they are independent currencies which no government can control, which you can carry around, and get value for it in any territory.<\/p>\n<p>However, McCurrie said gold has been around for a long time, has been traded with extensively, and has had recognised value for 5,000 years.<\/p>\n<p>Gold has therefore established itself, while Bitcoin is yet to do the same.<\/p>\n<h3 class=\"my-4\">The victim of its own success<\/h3>\n<p>McCurrie said if Bitcoin becomes truly successful, and becomes really big, it will be the victim of its own success \u2013 as it will become legislated.<\/p>\n<p>\u201cGovernments will never tolerate a separate monetary system outside of the formal banking system, so it will almost become illegal if it truly becomes big,\u201d he said.<\/p>\n<p>The reason why it is popular now and that prices are going up is because of China\u2019s exchange controls, he said.<\/p>\n<p>\u201cOne way of getting your capital out of China is to buy Bitcoin, which makes exporting money easy,\u201d said McCurrie.<\/p>\n<p>He warned that there is a dynamic involved in Bitcoin which can change quite quickly.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/r1Qwwkyj9l8\" width=\"630\" height=\"354\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<p><em>This article first appeared on <strong><a href=\"https:\/\/mybroadband.co.za\/news\/business\/217516-the-one-big-difference-between-bitcoin-and-gold.html\" target=\"_blank\" rel=\"noopener\">MyBroadband<\/a><\/strong> and is republished with permission.<\/em><\/p>\n<h4><strong>Now read:\u00a0<a href=\"https:\/\/mybroadband.co.za\/news\/banking\/216430-bitcoin-is-over-hyped-and-has-no-real-value-south-african-investment-firm.html\">Bitcoin is over-hyped and has no real value \u2013 South African investment firm<\/a><\/strong><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>There is one big difference between gold and Bitcoin as an investment \u2013 gold has been a treasured commodity for a very long time, while Bitcoin does not have the same track record.<\/p>\n","protected":false},"author":226,"featured_media":102667,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_enabled":true,"_sma_x_custom_text":"","_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[2],"tags":[13160,335],"class_list":["post-118789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-bitcoin","tag-gold"],"_links":{"self":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/posts\/118789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/users\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/comments?post=118789"}],"version-history":[{"count":0,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/posts\/118789\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/media\/102667"}],"wp:attachment":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/media?parent=118789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/categories?post=118789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/tags?post=118789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}