Bitcoin will never replace gold though. The future is Bitcoin as the digital transmission vehicle of gold, which will thus increase the price and value of both commodities.
why not, bitcoin is superior to gold as a form of money.
bitcoins can't be counterfeited.
bitcoins can be sent across the world instantly for very little fee's.
Because gold has other physical uses besides its use as "money." Plus it's pretty much Armageddon proof. There will ALWAYS be a good market for gold - though I do think Bitcoin will eventually take a significant portion of the gold market as a store of value/investment. But I seriously doubt it will "replace" gold.
money doesn't have to have industrial uses, the current fiat system shows that clearly, dollars are just papers and yet you can buy anything with them.
the only problem with a fiat system is that the government can dilute the currency tokens and steal purchasing power from the people, this is the problem bitcoin solves.
