It more depends on your needs, neither is really better. The Oldblood has slighty higher damage output and a ranged attack, but less defense and higher cost. The Scarvet is more survivable, but puts out less damage.
@Padre is correct. I use the old blood for monster hunting, and the scar-vet more generally, though a decent monster hunter still.
That's the answer I'm look for! I will primary fight Beastclaw Raiders, so Old Blood all the way? Thanks!