Topic: Bitcoin Will Replace Gold! Here's Why... - page 4. (Read 4166 times)

How can you invest/HODL if you don't save money to use for investing/HODLING? Gold hodlers, and Bitcoin hodlers are small niches, and might continue to remain to be small niches because no savings.

Saving is very different to investing in my view, India has a tradition of saving gold because their currency is unreliable and tied to politics not solid value which is partly true for alot of the world.   Investing would imply much greater risk and an attempt to employ capital for use in business in return for much greater chance of value exceeding inflation.
  In this context gold only has a basic remit which is to counter inflation, any price rise should be in line with inflation on going and so gains are far closer (long term) to neutral to zero when adjusted for loss of value in any particular currency.

   Its extremely unlikely Bitcoin or any technology replaces gold because they are not in the same asset class really, to say no more gold would be to eliminate an entire type of asset possible.   There are other commodities but most of them are heavily industrial or not quite fungible in the same way and so unsuitable for consideration as base money in the way that gold has been for many thousands of years.   Anything can resemble money, if someone wants to argue we switch over to a bias of 90% BTC and gold is far less used vs its previous backing then thats arguable.
   I dont give any credence to believing it no longer exists as an asset, its bound to be very useful in the simplest of ways as FIAT fails in various ways.   My only thought on that is native populations who left gold on the floor where it lay for the useless heavy but soft rock it is.   They were nomadic tribes existing in alignment with the great Buffalo herds across the entire continent, they didnt even seem to have a fixed idea on land ownership.   I believe they had no place for gold in their system of value because it was heavy and useless to them, it would have equated to a negative to have ownership of this no matter how pretty it might have been crafted like other cultures did from early times.
   So now if we value gold as nothing I could only believe this if our entire population became nomadic and so the weight of everything and practicality on hunting fields was most relevant.   Nothing is impossible but I dont see any scenario in which civilizations switch to that extent in my lifetime.

But my point is, how many people in India are saving and investing? I believe the ratio of investors compared with the total population of non-investors is very small. Investing, small niche. Bitcoin investing, ?

Tangible assets like gold, oil, precious metals and valuables will live forever. This is useful; the value can be stored in this. In turn Bitcoin is a digital code that does not have material value, so you do not need to make high-profile statements and make Bitcoin better than gold, just divide these assets

Gold is a material asset, you can use not only to save value but also for the manufacture of jewelry and other useful things. Bitcoin is a digital asset that is not tangible, for this reason I do not want to compare these two assets because of a mismatch between them

In my country (India), gold is the most popular form of investment asset (perhaps along with land). Gold is not very volatile and not much paperwork is needed for purchasing gold coins or jewelry. On the other hand, in case you want to purchase equities, ETFs or mutual funds, then you need a demat account and filing tax returns may also get complicated.

I agree with your opinion, and just confirm that bitcoin and gold certainly have their own criteria and the most obvious share for investments is clearly different.
bitcoin investment clearly has a high risk and no small risk besides the benefits to be gained.
different from gold as the colleague above said.
in principle, they are the same form of investment, gold can be used for accessories not with bitcoin, but the advantages and disadvantages that clearly distinguish between bitcoin and gold.

I agree with your point. Gold cannot be replaced by Bitcoin, there are antics as a joke. Only about 1% of people in the world know Bitcoin and blockchain technology, for gold I think more than 90%.

However, comparing them is not wise. Bitcoin has advantages and disadvantages, as well as gold. Both are effective to be used as an investment with their unique and different risks. The price of bitcoin does tend to be easier to go up many times faster than gold, but the risk is also great, on the contrary, the risk of gold is smaller but the price increase is very slow. Depending on each passion, whether like a challenge to face high risk, or choose a safer path.

This is right, bu the founder of EOS is still sure that in 20 years Bitcoin will replace this precious metal. Although it can be the next "smart prediction" which will not come true again, in a way, BTC can really become something like gold online. I believe that now Bitcoin can try to be on a par with gold and turn into a reliable defensive asset. Those, who invert in this crypto, make the right choice.

In theory everything may happen and every opinion has the the right to exist. And may be one day gold will be replaced by something other. It may appear that the Bitcoin will replace the gold, of course. But to my mind it will not happen in the nearest future. Too many factors do not or will not allow this to happen. Investments in gold or something else like oil, weapons will be still interesting to people for a long period of time. And next interesting, popular, profitable investment, for example, may appear to be water...who knows.

Debating in the topic is making me believe that Bitcoin and Gold will both be occupying their own small niches in society. Most normal, working people won't be buying Bitcoin, or Gold, because most normal, working people don't save to invest with their salaries.

I completely disagree with you. Gold is not just a store of value, it has a lot of uses in the world. I think you don't even know what gold is. You should research more on that first before you make a statement like this.

We are in a digital world, even if gold is a physical thing, gold can adapt too. Although it is quite difficult to believe, there are companies that have made a stablecoin back by gold so investment in gold can be easier to achieve.

well I don't see bitcoin replacing gold because I feel they are both very important assets but in different sectors.Gold is a physical store of value and worn as a jewel. Bitcoin on the other hand is a digital assets, not physical , not a jewel that can be worn, but is as well also a great store of  money.

Enough about this bullshit comparison. You don't really understand what Bitcoin is and the main purpose behind the development of it. In as much that people are investing into Bitcoin does not make it an asset or a precious coin.  Once you truly know and understand Bitcoin, you will never make a mistake to compare it with Gold.

again discussion of gold and bitcoin ... you don't want to get in this fight and bet:

Bitcoin Price ‘Will Never Hit $50K,’ Gold Bug Peter Schiff Tells Tom Lee

People will not stop buying gold because of bitcoin. I believe people used both, but for them to use both, bitcoin will have to be well regulated, with clear laws. And this will take many years, it is not something simple and it can not be done so early. so for now gold has more attention of many millionaires and billionaires

Gold symbolizes wealth as people have to keep it. Price is stable which is not really profitable compared to what Bitcoin can do but if we look its market assurance and to know who could still stand for long, it absolutely is gold.
However, we have to take the opportunity that Bitcoin it has. The profitability of bitcoin looks to be attractive that people first consider this than of gold which we think that gold becomes obsolete and left behind but I don't see this is a reason to replace gold cause it will be impossible to happen.

For now, I still do not see the possibility of bitcoin replacing gold, because if you come to many country and you go to some northern part, majority of them are illiterates, and even at their level of illiteracy, they virtually hold gold as asset and as investment opportunity.

When I see bitcoin, I see it as a system for the highly developed and exposed person in term of education and in terms of technology because bitcoin is strictly an internet based technology and this is what I see as limitation for bitcoin, but if bitcoin can be in form of a precious metal other than just digital alone, then it may be possible, but if you look at gold, you will see that it stands for both. It is only future that can tell anyway, I believe there is a greater future in cryptocurrency.

Bitcoin will not replace gold. It's an asset of value for centuries and there will always be people who would like to invest in gold and have gold in their portfolio. To be honest, there is nothing to lose with gold. Also, it has the place in world economy.
To my opinion investors in gold and investors in Bitcoin are quite different types and that differences will not disappear.

simple,because it's the best