Bitcoin is the new gold standard of the future - page 2.

barbara44

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Quote from: AndySt on August 27, 2021, 07:59:17 PM

Investing in bitcoin and using bitcoin as a gold standard are slightly different things. It is one thing when individual citizens are engaged in these investments and how the state treats this, and it is quite another thing when the state can use bitcoin in its reserves on an equal basis or even instead of gold. Here there are a lot of nuances, both the availability of a legislative and regulatory framework, and the readiness of the state structures themselves for this. Nevertheless, the use of gold in the economy is worth many thousands of years and already quite well-developed mechanisms, which can not be said about bitcoin. Therefore, we can talk about investments as much as we want, but the gold standard at this point in time is unlikely to be threatened by anything.

Well, we have few things that are closer to it right now. First of all El Salvador accepts bitcoin as legal tender, which means that they may have bitcoin on their reserves as well since people would be able to pay taxes with it since it is legal tender, that is number one.

Secondly Miami mayor has said many times that they are willing to pay salaries in bitcoin, which requires them to have bitcoin, not really reserves thing but at least it is a government official, and bitcoin in the same sentence.

Thirdly we have many hedge funds and similar places that move from cash to bitcoin for their reserves, makes sense because until they find a better investment idea, they get to keep that in bitcoin as well. So long story short we are talking about a road map here, it is getting there, nations could soon have bitcoin reserves for in their treasury and doesn't look like it is too far away neither.

xwshamim

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Yes more people is adopting bitcoin day by day its impact on the world is huge now whoever have a wish to earn or increase his investment goes for bitcoin. Big companies in the world have also done they same they just keep buying it

xSkylarx

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Quote from: suryana on August 28, 2021, 07:04:13 AM

I am optimistic about this. The more visible the development of bitcoin today. Not only nobles who have a lot of money, but ordinary people have seen the opportunities that exist in bitcoin. If this can be applied as digital money or people now call it digital gold, it will make work very easy. man . What we know is that technology is developing and I am optimistic about this.

Well, anyone can buy bitcoin, rich or poor, but not everyone can afford it. However, if we're talking about buying it, we don't have to buy it in full; we can buy it in half or less because the price is so high right now. Bitcoin has a bright future and, given its current price, could become the next gold. Because technology is constantly evolving, I am not surprised that it is becoming more popular and that it may soon be used as a payment method.

suryana

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I am optimistic about this. The more visible the development of bitcoin today. Not only nobles who have a lot of money, but ordinary people have seen the opportunities that exist in bitcoin. If this can be applied as digital money or people now call it digital gold, it will make work very easy. man . What we know is that technology is developing and I am optimistic about this.

Kong Hey Pakboy

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If bitcoin becomes the new gold standard then that means that countries that have the biggest reserve of bitcoin is going to be the one that's leading the international economic pack, and I think that China is going to be that country because they still have bitcoins even though they've banned it already.

AndySt

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Quote from: inoes on August 27, 2021, 07:53:43 PM

Quote from: Wawa2013 on August 23, 2021, 03:58:41 PM

Quote from: Chathusand on August 23, 2021, 03:24:03 PM

We all have different hopes for bitcoin in the future, and some of them may or may not come true. In terms of personal choice, we can't force people to favor bitcoin over gold because they all have their own reasons. It shouldn't even be a competition; the value of bitcoin and gold are both quite high, and both might be excellent storage options for your money.

Investing in Bitcoin can provide huge profits, as well as Gold. But it is not wise to compare the two, because Bitcoin was not created to compete
with Gold. After all, we can't force everyone to like Bitcoin. Everyone does have their own freedom to choose what they think is comfortable to use.
I agree both Bitcoin and Gold are both quite high value and very good for long term investment.

Both bitcoin and gold are in accordance with the laws of the economy and market mechanisms, the increase in demand will certainly be accompanied by an increase in price. Naturally, the price continues to increase due to increased demand but inversely proportional to the existing supply.
When compared, they are indeed different in age, concept, media, and era. Because Over the past year, the performance of Bitcoin crypto asset transactions has continued to improve. Instead of being negatively affected, the global pandemic that devastated the world economy actually gave Bitcoin an opportunity. Likewise with gold, which at the beginning of 2021 also experienced an increase, although not as high as Bitcoin.
If you like to invest digitally then cryptocurrency can be a solution. But if you like conventional things then gold is not bad.
It is recommended that you invest, especially Bitcoin, according to your means. Don't use debt.

Investing in bitcoin and using bitcoin as a gold standard are slightly different things. It is one thing when individual citizens are engaged in these investments and how the state treats this, and it is quite another thing when the state can use bitcoin in its reserves on an equal basis or even instead of gold. Here there are a lot of nuances, both the availability of a legislative and regulatory framework, and the readiness of the state structures themselves for this. Nevertheless, the use of gold in the economy is worth many thousands of years and already quite well-developed mechanisms, which can not be said about bitcoin. Therefore, we can talk about investments as much as we want, but the gold standard at this point in time is unlikely to be threatened by anything.

inoes

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Quote from: Wawa2013 on August 23, 2021, 03:58:41 PM

Quote from: Chathusand on August 23, 2021, 03:24:03 PM

We all have different hopes for bitcoin in the future, and some of them may or may not come true. In terms of personal choice, we can't force people to favor bitcoin over gold because they all have their own reasons. It shouldn't even be a competition; the value of bitcoin and gold are both quite high, and both might be excellent storage options for your money.

Investing in Bitcoin can provide huge profits, as well as Gold. But it is not wise to compare the two, because Bitcoin was not created to compete
with Gold. After all, we can't force everyone to like Bitcoin. Everyone does have their own freedom to choose what they think is comfortable to use.
I agree both Bitcoin and Gold are both quite high value and very good for long term investment.

Both bitcoin and gold are in accordance with the laws of the economy and market mechanisms, the increase in demand will certainly be accompanied by an increase in price. Naturally, the price continues to increase due to increased demand but inversely proportional to the existing supply.

When compared, they are indeed different in age, concept, media, and era. Because Over the past year, the performance of Bitcoin crypto asset transactions has continued to improve. Instead of being negatively affected, the global pandemic that devastated the world economy actually gave Bitcoin an opportunity. Likewise with gold, which at the beginning of 2021 also experienced an increase, although not as high as Bitcoin.

If you like to invest digitally then cryptocurrency can be a solution. But if you like conventional things then gold is not bad.
It is recommended that you invest, especially Bitcoin, according to your means. Don't use debt.

LUCKMCFLY

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Quote from: Chathusand on August 23, 2021, 03:24:03 PM

We all have different hopes for bitcoin in the future, and some of them may or may not come true. In terms of personal choice, we can't force people to favor bitcoin over gold because they all have their own reasons. It shouldn't even be a competition; the value of bitcoin and gold are both quite high, and both might be excellent storage options for your money.

I think what bitcoin has achieved at this time is very good, if we think that we can replace fiat or gold of course it is impossible, bitcoin does not have a physical form like gold so it is still difficult to be accepted throughout the world, while gold has been proven thousands of years can accepted anytime and anywhere.

You are right, gold has a long history, BTC is more than 10 years old, and until now they are beginning to take it more seriously, in fact, adoption in countries is the fundamental thing, El Salvador is an innovative and pioneering country, I think that the BTC will always have to have its pair with the FIAT money, since it is a way to measure its value, for me it does not make sense to compare the fiat money with the BTC, if both are money, something similar happens with gold, both represent money and value, which is what helps us to benefit from acquiring goods and services, that's what it is all about.

Wawa2013

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Quote from: freedomgo on August 23, 2021, 04:48:22 PM

Quote from: Wawa2013 on August 23, 2021, 03:58:41 PM

Quote from: Chathusand on August 23, 2021, 03:24:03 PM

We all have different hopes for bitcoin in the future, and some of them may or may not come true. In terms of personal choice, we can't force people to favor bitcoin over gold because they all have their own reasons. It shouldn't even be a competition; the value of bitcoin and gold are both quite high, and both might be excellent storage options for your money.

Investing in Bitcoin can provide huge profits, as well as Gold. But it is not wise to compare the two, because Bitcoin was not created to compete
with Gold. After all, we can't force everyone to like Bitcoin. Everyone does have their own freedom to choose what they think is comfortable to use.
I agree both Bitcoin and Gold are both quite high value and very good for long term investment.

Investing does not always come with profit, especially in the crypto market where the risk is high and the price volatility could probably result to panic of the investors. Comparing bitcoin to gold, I think it's too early to say that bitcoin is better because gold is very stable and it will always be the option of the big investors to secure their wealth. Moreover, bitcoin could only be use as a tool to trade and one could choose not to hold it but just to use it for trading purposes only.

Not everyone succeeds in getting a profit when investing, therefore it is very necessary knowledge and expertise to analyze the market to be able
to generate profits from investments. So make sure we have made preparations before deciding to invest, so as to minimize the risk of
experiencing losses when investing. And never invest in an unknown asset, so learn everything about that asset before investing.

Gold has been known for a long time as the safest asset for investment. and Gold has been recognized by many people can provide profits in
the long term. Bitcoin is still relatively new in the investment world, because Bitcoin has only been on the market for about 12 years, it is too early
to say Bitcoin is better than Gold, which Gold has been trusted as a profitable investment thousands of years ago. Therefore it is not surprising that
there are still many rich people who prefer Gold over Bitcoin.

freedomgo

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Quote from: Wawa2013 on August 23, 2021, 03:58:41 PM

Quote from: Chathusand on August 23, 2021, 03:24:03 PM

We all have different hopes for bitcoin in the future, and some of them may or may not come true. In terms of personal choice, we can't force people to favor bitcoin over gold because they all have their own reasons. It shouldn't even be a competition; the value of bitcoin and gold are both quite high, and both might be excellent storage options for your money.

Investing in Bitcoin can provide huge profits, as well as Gold. But it is not wise to compare the two, because Bitcoin was not created to compete
with Gold. After all, we can't force everyone to like Bitcoin. Everyone does have their own freedom to choose what they think is comfortable to use.
I agree both Bitcoin and Gold are both quite high value and very good for long term investment.

Investing does not always come with profit, especially in the crypto market where the risk is high and the price volatility could probably result to panic of the investors. Comparing bitcoin to gold, I think it's too early to say that bitcoin is better because gold is very stable and it will always be the option of the big investors to secure their wealth. Moreover, bitcoin could only be use as a tool to trade and one could choose not to hold it but just to use it for trading purposes only.

Wawa2013

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Quote from: Chathusand on August 23, 2021, 03:24:03 PM

We all have different hopes for bitcoin in the future, and some of them may or may not come true. In terms of personal choice, we can't force people to favor bitcoin over gold because they all have their own reasons. It shouldn't even be a competition; the value of bitcoin and gold are both quite high, and both might be excellent storage options for your money.

Investing in Bitcoin can provide huge profits, as well as Gold. But it is not wise to compare the two, because Bitcoin was not created to compete
with Gold. After all, we can't force everyone to like Bitcoin. Everyone does have their own freedom to choose what they think is comfortable to use.
I agree both Bitcoin and Gold are both quite high value and very good for long term investment.

Davidvictorson

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Quote from: Irenerty on August 16, 2021, 09:56:26 PM

At some stage in the future, will Bitcoin be the new gold standard and possibly become a global currency?

It might, it might not. The biggest challenge it faces which it must overcome is its volatility. Once this can be fixed and then its regulatory issues, then I think we can begin to talk about how its going to be the new gold standard. I love bitcoin and the “miracles” it can perform but we still have a pretty long way to go.

Chathusand

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We all have different hopes for bitcoin in the future, and some of them may or may not come true. In terms of personal choice, we can't force people to favor bitcoin over gold because they all have their own reasons. It shouldn't even be a competition; the value of bitcoin and gold are both quite high, and both might be excellent storage options for your money.

arallmuus

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Quote from: Silberman on August 23, 2021, 01:58:31 PM

as people realize that buying and holding bitcoin is easier than buying and holding gold

Its easier to buy and hold both of it but the main advantage on bitcoin is that you can easily use it as your payment option. There are few companies that started to accept bitcoin recently so this is one of the 'new' standard that we are looking for. The digital 'gold' that you can spend and receive as if you are receiving money or banknotes

Quote from: witcher_sense on August 23, 2021, 02:08:30 PM

They replaced it with fiat and took control over it.

and they can keep on printing it

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Quote from: perfect999 on August 23, 2021, 01:06:48 PM

Bitcoin is certainly more valuable than gold and the reason I am saying that is simply scarcity associated with it. Gold although rare is still unlimited and Bitcoins are limited and every day a lot of bitcoins are burned through various means like - lost coins, burned coins, etc.

One reason that makes me feel that bitcoins will never get worldwide acceptance though, is the decentralized nature. Governments and banks want to control the economy while bitcoin's sole purpose is to dump banks so they cannot work together.

The main reason central banks and governments have become so powerful is gold's limitations. Gold is too heavy, it is difficult to transport across lands and oceans. They replaced it with fiat and took control over it. Additionally, gold is easily confiscatable and effectively taxable. It all resulted in more taxes and bigger coffers. Bitcoin can get worldwide acceptance as a standard for the reason that, unlike gold, bitcoin is unstoppable, you don't need to ask governments and banks for permission to access and move it. With bitcoin, people can keep their government in check, they will have a unique ability to constantly monitor what things taxes are spent on. Central banks will lose their ability to manage the economy by playing with the supply of money. Governments' spending on wars and authoritarian endeavors will shrink and, therefore, their power.

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Quote from: Rajamuda on August 21, 2021, 12:45:01 AM

It is possible that bitcoin will compete with gold, even bitcoin has the potential to have higher popularity than gold. Well, bitcoin is like the gold of the future, which has long been famous for all its advantages, especially in terms of price.
If it's related to global currencies, yes it looks like there is potential for it, but after all.. fiat remains the main one, bitcoin will be a complementary/global alternative currency.

Bitcoin is already competing with gold and while we are still far away from the market cap of gold I think the predictions of some experts that think that bitcoin is going to eat away a significant part of the market cap of gold are going to become true as people realize that buying and holding bitcoin is easier than buying and holding gold, not only I would love that as a holder of bitcoin but also because I would love to see what kind of excuse Peter Schiff will bring to justify this.

tygeade

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Quote from: albon on August 22, 2021, 06:14:05 PM

The most important feature of the Bitcoin currency is that it offers greater opportunities to achieve large returns in the future, and it is an excellent investment, albeit highly volatile, due to its exposure to major price fluctuations within a short period of time. Bitcoin can be stored on a platform or in a wallet and can be sent to anyone in the world within minutes without revealing the identity of the sender, I agree that Bitcoin is the new gold standard of the future.

No doubt I believe in BTC and hence I am part of this community for years now but to be brutally honest, I don't feel like BTC will ever have the same value as gold. I am not talking in terms of price but the value. The place I live right, I have a lot of aged people whom I often try and convince about BTC but they always say that it's impossible to trust an asset that exists virtually and the creator is not even known.

I am sure the price of BTC will go massively high especially around the time the next halving happens but the value and trust that is associated with gold cannot be associated with BTC just yet.

perfect999

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Quote from: Rajamuda on August 21, 2021, 12:45:01 AM

It is possible that bitcoin will compete with gold, even bitcoin has the potential to have higher popularity than gold. Well, bitcoin is like the gold of the future, which has long been famous for all its advantages, especially in terms of price.
If it's related to global currencies, yes it looks like there is potential for it, but after all.. fiat remains the main one, bitcoin will be a complementary/global alternative currency.

Bitcoin is certainly more valuable than gold and the reason I am saying that is simply scarcity associated with it. Gold although rare is still unlimited and Bitcoins are limited and every day a lot of bitcoins are burned through various means like - lost coins, burned coins, etc.

One reason that makes me feel that bitcoins will never get worldwide acceptance though, is the decentralized nature. Governments and banks want to control the economy while bitcoin's sole purpose is to dump banks so they cannot work together.

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Quote from: albon on August 22, 2021, 06:14:05 PM

The most important feature of the Bitcoin currency is that it offers greater opportunities to achieve large returns in the future, and it is an excellent investment, albeit highly volatile, due to its exposure to major price fluctuations within a short period of time. Bitcoin can be stored on a platform or in a wallet and can be sent to anyone in the world within minutes without revealing the identity of the sender, I agree that Bitcoin is the new gold standard of the future.

Bitcoin deserves to be said the gold standard of the future, the thing that must be improved from bitcoin is the private key, I hope the private key can identify fingerprints or retinas of the eye so it is very safe, nowadays many people make programs or applications to guess the bitcoin private key, I'm afraid the algorithm of bitcoin can be cracked someday so users leave bitcoin immediately.

albon

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The most important feature of the Bitcoin currency is that it offers greater opportunities to achieve large returns in the future, and it is an excellent investment, albeit highly volatile, due to its exposure to major price fluctuations within a short period of time. Bitcoin can be stored on a platform or in a wallet and can be sent to anyone in the world within minutes without revealing the identity of the sender, I agree that Bitcoin is the new gold standard of the future.

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