Topic: Bitcoin is the new gold standard of the future - page 3. (Read 820 times)

Gold was not surpassed in value yet per marketcap but bitcoin marketpcap is already close and it's already in the top 10. We can see the impressive growth of bitcoin and it's not impossible that one day it will be at the top. The world is going online, bitcoin is digital gold and the gold thing is no government could control it and you can carry it wherever you will go.

For a billionaire, he can secure his money and go anywhere in the world just by carrying his hardware wallet and remembering his password, isn't it convinient?

In the long run, the market value of Bitcoin will greatly increase. The value of Bitcoin depends entirely on the market. Bitcoin's distributed network peer-to-peer encryption technology protects the network and transactions. From the perspective of regulation and market volatility, cryptocurrency plays an important role. I think that the era when Bitcoin market value surpasses gold will become a reality in the future, and I have seen the prediction of an expert in the United States that Bitcoin will surpass gold faster than expected.

Based on what I observed over time, BTC surpassed gold in several ways sometime back which became the talk of the town and helped spread awareness related to it and cryptocurrencies overall.

As an investment asset, BTC is way better than gold. On the other hand, as a currency, gold is still better than BTC.

Nations do not get a source of money from fiat to do stuff, I mean they shouldn't at least, printing money to do what a government has to do is not the right way. What they should do is tax people and get that money and use that money to help everyone, some stuff are not charged in this world, you do not pay the firefighters that stops the fire at your house right? So, some stuff needs to be paid by government and they should use that from the taxes.
Obviously speaking we are talking about many nations coming short and using that money very inefficiently, nations that could send 1 rocket to space for exploration every single day with the type of tax they get end up not even fixing the roads is the norm we are used to these days, this has nothing to do with your ideology or politician you like, EVERY one of them are like that in this day and age. So bitcoin or fiat, nothing will honestly change if you ask me, because it is the people at the top that is screwing us over, no matter which currency.

This is a great advantage of bitcoin compared to gold, bitcoin was great before the digital age but now that most of the transactions are digital in nature we cannot go back to carry gold coins in our pockets, that will be incredibly archaic and no one wants to return to that, so we need a store of value that is electronic in nature and so far bitcoin is the best chance that we have to not only be part of the fastest growing market during the last decade, but also it is the best way to protect our wealth we have at the moment.

I wouldn’t be so sure that this is what we want to happen. Governments receive partial control and, much more importantly, a source of money from the current fiat system. In turn, they provide services, care about welfare and safety inside the country, etc. I assume you’d expect them to continue doing that, right? But if we totally switched to cryptocurrencies the taxation would be so much complicated. How to ensure that everyone pays taxes if everyone tries to stay anonymous?

I don’t know, maybe it is possible to regulate somehow, maybe it will be so in the future. But the important question is: do we really need it? I think fiat and cryptocurrencies can coexist just fine, benefiting both governments and people.

What did you mean by rebuild here? The concept of a decentralized financial system is introduced through bitcoin. Crypto is already in the mainstream now when govt is trying to ban or regulate it. If technology is doing good and helping people in many ways it will develop and evolved in time. The evolution already began but we need some regulation to prevent crypto fraud.

It's time for us to focus more on Bitcoin right now, where everything has started to turn digital. I'm not saying investing in Gold is bad, but see
the performance of Bitcoin is much better and the increase in value is higher than Gold. Even if we compare the profit we make from Bitcoin is
much greater than investing in Gold. It is true that Bitcoin's weakness is that the price is very volatile and may be related to legality in some countries.
But that's not a problem, if we want to learn Bitcoin more deeply, so that we know how to use Bitcoin well.

Bitcoin and gold are both very high in value, and both are ideal investment storage methods. However, with the current development of the digital currency economy, Bitcoin's effect as a gold substitute is much better. Bitcoin is the basic currency of the future. It is completely free from national boundaries and can be circulated on a global scale. Bitcoin should have better development in the future.

What do you think of all those services that claim to hold Bitcoin for people to obtain dividends through lending interest? They have somehow found a way to make crypto just like normal financial services. All over these socalled Defi platforms are trying to lure people with BTC to lend their coins for interest (by asking borrowers to pay).

IF governments and banks also find a way to do this, they don't care if it's USD or BTC.

When a country’s currency is abandoned and replaced by Bitcoin, Bitcoin will transform from a store of value in that society into a generally accepted medium of exchange. In the future, if Bitcoin eventually becomes the global reserve currency, then the first countries to accept Bitcoin will get the most benefit on their balance sheets.
At some stage in the future, will Bitcoin be the new gold standard and possibly become a global currency?

Bitcoin is a real opportunity to rebuild a fully decentralized financial system based on true trust. It is the gold standard in the crypto world and the foundation that allows computers to connect and communicate. As more and more people begin to use cryptocurrency, the support of institutions and governments should be of great help in accelerating the adoption of cryptocurrencies in mainstream sectors, and this feat is expected to enhance its value.
The unique attributes of Bitcoin enable it to surpass modern and ancient currency at the margin and provide a powerful impetus for its growing popularity. In particular, the effective combination of censorship resistance and absolute scarcity has always been a powerful driving force for wealthy investors to allocate part of their wealth to new asset classes.
Because Bitcoin can be easily transferred across borders and does not require a banking system, it has become an ideal currency for people who want to escape hyperinflation. In the next few years, as fiat currency continues to follow its historical trend towards the lowest point, Bitcoin will become an increasingly popular choice for global savings. When a country’s currency is abandoned and replaced by Bitcoin, Bitcoin will transform from a store of value in that society into a generally accepted medium of exchange. In the future, if Bitcoin eventually becomes the global reserve currency, then the first countries to accept Bitcoin will get the most benefit on their balance sheets.
At some stage in the future, will Bitcoin be the new gold standard and possibly become a global currency?

https://bitcoinist.com/50-years-later-why-bitcoin-is-the-new-gold-standard/

The thing is whether the government is going to help push these cryptocurrencies forward, or are they going to end up pushing theirs forward? Recently, they have been talking about CBDC which is a central bank issued digital currency. If eventually they release these currencies, are they going to leave them to push the use of decentralized currencies? I don’t really think so. Anyways, I never for once thought that we are going to need the government in this case.Bitcoin has always been all about the trust that people have for it, the trust is what has kept it going and nothing more. So I believe that it should and it’s going to be like that.

The unique attributes of Bitcoin enable it to surpass modern and ancient currency at the margin and provide a powerful impetus for its growing popularity. In particular, the effective combination of censorship resistance and absolute scarcity has always been a powerful driving force for wealthy investors to allocate part of their wealth to new asset classes.

I don't know about state surveillance but they seem to be pretty good with invasion in privacy so if you are using a computer that is connected to the Internet that's controlled or monitored closely by the state, I think that there's not going to be any difference since they will still see your online activities and there's public ledger that they can use to trace who owns those bitcoins that they're looking for. Unless there's a fix for volatility, bitcoin will never be considered like gold standard and gold standard is an obsolete system that was take over by Bretton Woods and even that is already obsolete.