Topic: Bitcoin will be the replacement for gold? (Read 224 times)

In the full probably really cryptocurrency can replace gold, but there is also the probability of fraud, in this case, security wins

Although Bitcoin is much better than gold in terms of technology and mechanism, the price of Bitcoin is very unstable, and the Internet is extremely vulnerable to hackers and so on. It cannot replace gold!

Bitcoin will not be a substitute for gold. Crypto currency such as Bitcoin and Gold are not connected in any way. In my opinion, bitcoin will successfully exist in the virtual world, and gold in the real world.

I think not, only the investment market for gold will be reduced. because bitcoin will be another investment choice or a favorite investment of many people in the future.

Bitcoin can never take the place of gold.

Gold is a mine that the world gave us. Mother Nature is a gift for mankind.

Digital money is human production things. Man-made things can not replace nature's gifts.

Yes, this is a very good news. Does the gold substitution in the future cryptocurrency mean that the US hegemony has disappeared? If this is the case, then the dollar will no longer affect the world, then this is a happy thing.

I doubt that will be so . gold is a metal that has its value . but cryptocurrency and blockchain are in most cases .there is no such value . so that not think that will replace

The most valuable currency in the virtual money market is Bitcoin. Bitcoin is the creator of this world. It is not a substitute for gold, but it is worth more than gold. In the coming days,in the world will be the only currency to trade.

Bitcoin will replace some of the functions of gold, but many people in the investment market are very fond of gold. I think the total value of bitcoin in the future may exceed gold.

Bitcoin cannot be a replacement for gold because they are two different investments. One is digital and one is a physical asset which you can hold in your hands and with this, there is no way that a digital coins that cannot be physically held and seen can replace a physical asset which is one of the oldest types of assets in the world.

Bitcoin And Gold could never replace one another. They have their own uniqueness and also disadvantages.
Gold can be used on jewelries and other things such as electronics.
But bitcoin on the otherhand is crowdsourced, its value is dependent on community participation and trading.
They have their own way of being valued.

In terms of positioning, although gold is called a natural currency, its scarcity and non-renewability cannot cope with a growing economic system, making it impossible to become a medium of exchange. Now gold has lost the function of money. Bitcoin is a non-government-issued currency. The purpose of its existence is to become a trading medium, and ultimately let people use this transaction medium to measure the value of the physical object. This is why Bitcoin will not want to replace gold. As a currency, it may be willing to lose its payability like gold. Bitcoin without payment is a currency that has been eliminated.

It is very difficult for bitcoin to replace gold in the near future

Digital money will replace real money and gold but i think it take a long time. Real money has advantages than digital money but also has disadvantage.

Gold will not be replaced by cryptocurrency.
The starch is very much a gold lover, such as the wearer of gold for the ring necklace and so on.

I think that might happen because the development that exists in crypto could enable to replace gold let alone bitcoin price is very expensive but for now, maybe bitcoin price still decrease and fluctuate but I am sure at the end of year of 2018 bitcoin and altcoin other prices can rise and reach the price the highest

I do not think so, but if bitcoin will replace fiat money then I will believe it. Not everyone knows and wants to know the technology of the future, therefore gold remains their top choice for investment.

bitcoin and gold are two different things.  But both have a high price in relation to ordinary money.  We need to develop bitcoin technologies and will be good for everyone.

I think we should be able to separate the real estate investment and investment online, I disagree if bitcoin replaces gold investment ,,, gold is one of the investment that is very old,

Gold and bitcoin have one commonality: they are scarce.
The scarcity of bitcoin (in the long run) will be larger than that of gold. Gold is being mined each year more and more.

Both bitcoin and gold appeal to people who would want to preserve the value of their (fiat) money. They serve as a store of value.
Again, in the long run, bitcoin is better. Bitcoin will relatively soon become a totally deflationary currency.

Bitcoin is also much easier to handle. You can transport it easily. You can store it easily. Unlike gold.

Not too hard to guess which one will win in the long run.

hello buddy
we can not deny blockchain technology is a financial advancement, we do not know what will happen in the future, Bitcoin replaces gold, I think may happen in the future, the difference is gold in physical form while Bitcoin is digital

Certainly the bitcoin will be a substitute for gold because if you invest in these two the bigger the bitcoin will be than gold.

It all depends.
Bitcoin has already replaced gold for many investors as an investment vehicle or a store of value.
But there are still many with old thinking that will not do this too quick.
Then there are places where gold is better because it's physical. And in some cases real thing that you can see and touch will always better than Bitcoin.

But no worries, there's enough need for both in the world. And where Gold will not be available exactly because it's physical, Bitcoin will be there to replace it.

There's no way at any point or circumstance that Gold will be replaced by any kinds of paper and cryptocurrencies because Gold and other precious gems in the world will always have their value no matter what kind of the world will become.
Gold, silver and other precious stones are the most important currency since that first civilization and until today.
indeed bitcoin and cryptocurrencies are more worth than Gold but anytime our money and cryptocurrencies will lose it's value and Gold will stay as the main currency in the world.

No, Bitcoin cannot replace gold as for Gold is Gold and will always have a value while money and other currencies (tangible or crypto) will have no value at all whenever the country or state economy collapses.
Indeed Bitcoin has more value than Gold and other precious gems but anytime Bitcoin and cryptocurrencies will become worthless or will have no value at all but Gold will always be the all time currency since the beginning of the human civilizations.

Probably but not entirely as gold is a big industry in itself so sinking it out wont be easy.

bitcoin could probably be the replacement for gold

I personally think that this bold assertion of Bitcoin by Pfeffer is a welcome development for the crypto business world. Such statements are a price booster to the financial crypto internet space. We expect more of these bold steps in the near future.

Speaking at the Sohn Investment Conference on Monday, April 23rd, John Pfeffer, serial entrepreneur, investor, and currently a partner at Pfeffer Capital, declared that Bitcoin is the first viable replacement for gold.

John Pfeffer said that his anticipation is for Bitcoin’s price to rise to at least $90,000 or even significantly higher.

Bitcoin is better than gold on every point

Pfeffer made a few bold statements, apart from his optimistic Bitcoin price prediction. He also noted that the grandfather of all cryptocurrency is “better than gold.” Decentralization, as well as censorship resistance, are the core pillars of Bitcoin’s prominence, according to Pfeffer. Also, he makes a case that the largest cryptocurrency is “vastly easier to store and transact with than gold.”

Pfeffer also noted that if 25% of the foreign gold reserves were to be replaced with bitcoins, the cryptocurrency network would receive a total value of $6.4 trillion.
While Pfeffer’s statements are undoubtedly brave, to say the least, he isn’t the first one to hint that Bitcoin could eventually replace gold. At the end of 2017, the famous Winklevoss twins were quite firm in their belief, saying that “Bitcoin matches or beats gold across the board.”

A key sentiment can be noticed in both Pfeffer’s statement and the one from the Winklevoss twins. They are obviously isolating Bitcoin from other cryptocurrencies, and they are clear that they shouldn’t be intermingled. At the conference, Pfeffer was quite blunt, saying that the “majority of crypto assets are bad bets.”
 
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