Topic: Bitcoin is gold? - page 10. (Read 848 times)
Bitcoin according to the I don’t was the same with gold for bitcoin has value big and unstable, while the gold has a stable and gold in received by everyone, while bitcoin not everyone accepts
The main feature of money sounds like this: bad money is replaced by good money. That is why for many years gold had an absolute advantage in relation to other money - this metal was hard to reach, least likely to be corroded. With the transition to paper equivalents, it took them only a hundred years with little to dislodge gold. Electronic money coped even faster. And now, if we look back, just 100-150 years ago almost every self-respecting state promised instant exchange of currency for its golden brother - it was a matter of honor! But it was not possible to save this beautiful and heavy metal. Because good money always drives out bad ones.
With the development of the economies of money, development was required more and more, and in pursuit of super-income countries and currencies reduced the gold reserves of collateral. Already at the end of the XIX century, only one of five dollars was provided with real gold, and over time, the gold standard was abandoned altogether.
Paper money ousted gold, because they are lighter, more compact and more versatile. Good money was replaced by bad ones. At the same time, paper dollars corresponded to the basic currency requirements as a tool - they stored and transferred value, they had a market price, which the crowd agreed with.
Why am I talking about dollars and gold in the past tense? Because for several years now a more perfect currency has appeared, gradually replacing our usual paper and even electronic money. This, of course, bitcoin.
Now it may seem ridiculous to say that bitcoin is new gold. But let's just go over the facts:
1.It is difficult to extract;
2.It is limited in quantity;
3.The price is quite high;
4.It is formed by the market;
5.Understand almost all the progressive population of the planet;
6.Very cheap to store and transfer.
Its decentralized nature makes it inaccessible to almost any form of manipulation known to us.
Of course, I'm not saying that bitcoin is a new metal. Yes, and gold as a metal for a long time, few people are interested. But my statement is that bitcoin can become the reserve gold of a new generation on the basis of which it is possible to create new currencies as hundreds of years ago it was with the gold standard. Bitcoin as a reserve element in all parameters exceeds both gold and dollars.
With the development of the economies of money, development was required more and more, and in pursuit of super-income countries and currencies reduced the gold reserves of collateral. Already at the end of the XIX century, only one of five dollars was provided with real gold, and over time, the gold standard was abandoned altogether.
Paper money ousted gold, because they are lighter, more compact and more versatile. Good money was replaced by bad ones. At the same time, paper dollars corresponded to the basic currency requirements as a tool - they stored and transferred value, they had a market price, which the crowd agreed with.
Why am I talking about dollars and gold in the past tense? Because for several years now a more perfect currency has appeared, gradually replacing our usual paper and even electronic money. This, of course, bitcoin.
Now it may seem ridiculous to say that bitcoin is new gold. But let's just go over the facts:
1.It is difficult to extract;
2.It is limited in quantity;
3.The price is quite high;
4.It is formed by the market;
5.Understand almost all the progressive population of the planet;
6.Very cheap to store and transfer.
Its decentralized nature makes it inaccessible to almost any form of manipulation known to us.
Of course, I'm not saying that bitcoin is a new metal. Yes, and gold as a metal for a long time, few people are interested. But my statement is that bitcoin can become the reserve gold of a new generation on the basis of which it is possible to create new currencies as hundreds of years ago it was with the gold standard. Bitcoin as a reserve element in all parameters exceeds both gold and dollars.
bitcoin is like gold. it is world largest currency its price increases like gold.
I watched a video telling that every paper currency in history all collapsed , and USD will collapse too, in future.
The time in which a currency collapses is when people don't believe in its value anymore. And obviously, when thought reversely, something becomes a currency when more and more people believe in its value.
And currency becomes money when they don't lose value between people regardless of time, like gold.
Do you believe btc could be in this position? BTC could become gold?
The time in which a currency collapses is when people don't believe in its value anymore. And obviously, when thought reversely, something becomes a currency when more and more people believe in its value.
And currency becomes money when they don't lose value between people regardless of time, like gold.
Do you believe btc could be in this position? BTC could become gold?
Sure a good number of fiat currencies in the past collapsed, but it doesn't necessarily mean that the US dollar will collapse too. What video did you watch specifically? Hopefully not some tinfoil-hat stuff.
Gold isn't a currency; it's more of a store of value, whereas people could invest in so that their funds would be unaffected by inflation(which is very very common in most if not all countries).
I believe that btc is like gold so many bitcoin users can succeed and make a lot of money and eth it's like oil.
That makes no sense.
Initially I first did not believe it and with time I believed that bitcoin could be like gold, because of the many interest and public trust.
No, Bitcoin will gain more value eventually than gold.
BTC and all aspects of gold are pretty much nearby.The price of both are very high,but the Btc is variable, both gold is stable and variable.However,both are treated as assets.But there is some doubt about Btc existence in the future,not about gold.
Well we can say the bitcoin are now starting to be like a Gold , they somehow the same but last year it almost exceed the price of gold , but as of now its below 8k usd , the only differences of this two is one is stable the other one which is bitcoin is unstable and volatile. But for me bitcoin is better than gold , I am proud to say that, now just holding my coins and waiting.
They say that bitcoin is a digital counterpart of a gold but I don't believe it will actually became a gold. Just like what you have said bitcoin might also lose its value if the people don't believe on its value anymore but in the gold's case it wont because it is a precious metal that has a real value even if the economic standing of you country has declined or even if there's a war the gold will be gold and won't lose its value.
To start with what is gold? gold is anything precious and if bitcoin is precious it is gold and indeed a modern gold logically it will be very ironical for one not to adjudge BTC to even be better than gold.
I hate to say I told you so, but … well, I told you so. Bitcoin, 1 while still a popular financial asset, is looking less and less like a currency. Online payments company Stripe is ending Bitcoin support. It cites several reasons for doing so:
[Bitcoin] transaction confirmation times have risen substantially; this, in turn, has led to an increase in the failure rate of transactions. … By the time the transaction is confirmed, fluctuations in Bitcoin price mean that it’s for the “wrong” amount. ... Furthermore, fees have risen a great deal … making Bitcoin transactions about as expensive as bank wires.
[Bitcoin] transaction confirmation times have risen substantially; this, in turn, has led to an increase in the failure rate of transactions. … By the time the transaction is confirmed, fluctuations in Bitcoin price mean that it’s for the “wrong” amount. ... Furthermore, fees have risen a great deal … making Bitcoin transactions about as expensive as bank wires.
For my view, bitcoin is different than gold.
Both usage are at different area.
Gold are stable and has gained trust as a long-term value storage for many many years.
Bitcoin price is unpredictable and volatile.
Both has its own value.
Dont think any of it can be replaced.
However, I don't think bitcoin can become a gold~
Both usage are at different area.
Gold are stable and has gained trust as a long-term value storage for many many years.
Bitcoin price is unpredictable and volatile.
Both has its own value.
Dont think any of it can be replaced.
However, I don't think bitcoin can become a gold~
I watched a video telling that every paper currency in history all collapsed , and USD will collapse too, in future.
The time in which a currency collapses is when people don't believe in its value anymore. And obviously, when thought reversely, something becomes a currency when more and more people believe in its value.
And currency becomes money when they don't lose value between people regardless of time, like gold.
Do you believe btc could be in this position? BTC could become gold?
The time in which a currency collapses is when people don't believe in its value anymore. And obviously, when thought reversely, something becomes a currency when more and more people believe in its value.
And currency becomes money when they don't lose value between people regardless of time, like gold.
Do you believe btc could be in this position? BTC could become gold?
Bitcoin for digital users is gold due to how we mine it, how we buy and sell it. However if you really would want to face it off woth real gold then you would have a hard time as you can really tell and know that gold is a much better commodity and has a much better fixture and value to not just the exonomic world but in terms of aesthetics and a lot of things. However I do believe that bitcoincan be one day just as better and be able to provide that same value to people
Bitcoin can not be precious metal like gold. Gold is a natural mineral.
The Crypto Stock Exchange is entirely human production. Human-produced things will be destroyed by humans. This is also a fact.
Although Bitcoin is not as valuable as gold, it is one of today's important values.
The Crypto Stock Exchange is entirely human production. Human-produced things will be destroyed by humans. This is also a fact.
Although Bitcoin is not as valuable as gold, it is one of today's important values.
I watched a video telling that every paper currency in history all collapsed , and USD will collapse too, in future.
The time in which a currency collapses is when people don't believe in its value anymore. And obviously, when thought reversely, something becomes a currency when more and more people believe in its value.
And currency becomes money when they don't lose value between people regardless of time, like gold.
Do you believe btc could be in this position? BTC could become gold?
I don't thinks so if bitcoin can become a gold. For me bitcoin and gold are deferent. I compare it with there price. Bitcoin has not have a stable value than gold. Bitcoin may ritch the high price but is not stable it may drop down in a second/minute. While gold since in the previouse years the value of gold is the same us now. The time in which a currency collapses is when people don't believe in its value anymore. And obviously, when thought reversely, something becomes a currency when more and more people believe in its value.
And currency becomes money when they don't lose value between people regardless of time, like gold.
Do you believe btc could be in this position? BTC could become gold?
I watched a video telling that every paper currency in history all collapsed , and USD will collapse too, in future.
The time in which a currency collapses is when people don't believe in its value anymore. And obviously, when thought reversely, something becomes a currency when more and more people believe in its value.
And currency becomes money when they don't lose value between people regardless of time, like gold.
Do you believe btc could be in this position? BTC could become gold?
The time in which a currency collapses is when people don't believe in its value anymore. And obviously, when thought reversely, something becomes a currency when more and more people believe in its value.
And currency becomes money when they don't lose value between people regardless of time, like gold.
Do you believe btc could be in this position? BTC could become gold?
I'm not sure if bitcoin should become gold as it's not the mean of exchange as it's supposed to be with bitcoin. I wouldn't be searching for parallels in this case, bitcoin is just bitcoin
Traditional paper money may be collapsed, but gold is here for thousands of years and it doesn't show collapse signs.
Bitcoin will never replace gold, because gold has been here for much longer and it gained trust as a long-term value storage, bitcoin has a long way to move through before it could be considered as a trustworthy storage of value.
Technically it is much better then gold as you can transfer it easily while in order to transfer gold you need to make a physical transfer ,but we need to get people to trust the system before it can be considered a as a storage of value./
Bitcoin will never replace gold, because gold has been here for much longer and it gained trust as a long-term value storage, bitcoin has a long way to move through before it could be considered as a trustworthy storage of value.
Technically it is much better then gold as you can transfer it easily while in order to transfer gold you need to make a physical transfer ,but we need to get people to trust the system before it can be considered a as a storage of value./
I watched a video telling that every paper currency in history all collapsed , and USD will collapse too, in future.
The time in which a currency collapses is when people don't believe in its value anymore. And obviously, when thought reversely, something becomes a currency when more and more people believe in its value.
And currency becomes money when they don't lose value between people regardless of time, like gold.
Do you believe btc could be in this position? BTC could become gold?
Many people are pretend bitcoin as digital gold now. But it doesn't mean that it can be as worth as gold. Most of people will always choose gold rather than any other currencies. So I think it will never become/as worth as gold. Although people in japan and korea are interested and keep collecting bitcoin now but most of countries are more interested to hoard gold. The time in which a currency collapses is when people don't believe in its value anymore. And obviously, when thought reversely, something becomes a currency when more and more people believe in its value.
And currency becomes money when they don't lose value between people regardless of time, like gold.
Do you believe btc could be in this position? BTC could become gold?
I watched a video telling that every paper currency in history all collapsed , and USD will collapse too, in future.
The time in which a currency collapses is when people don't believe in its value anymore. And obviously, when thought reversely, something becomes a currency when more and more people believe in its value.
And currency becomes money when they don't lose value between people regardless of time, like gold.
Do you believe btc could be in this position? BTC could become gold?
Yes I do believe that bitcoin has gained a lot of popularity and users since it has started and in this process it has also gained a lot of demand. It’s true that bitcoin has defeated gold in terms of prices but still I don’t think that it will be able to replace it because firstly gold is way more popular than bitcoin and gold is accepted more whereas bitcoin is not accepted that much. So I would prefer holdings of gold over holdings of bitcoins The time in which a currency collapses is when people don't believe in its value anymore. And obviously, when thought reversely, something becomes a currency when more and more people believe in its value.
And currency becomes money when they don't lose value between people regardless of time, like gold.
Do you believe btc could be in this position? BTC could become gold?
I think tell 'BTC like a gold in currency' is exactly. BTC is a first crypto currency in the world, decentralize, not belong to anyone, many one believe in it, wish got it in wallet and more... But in the future, many crypto with modern techonology will meet many requirements of fields, replace BTC in miney exchange
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