Topic: Bitcoin Will Replace Gold! Here's Why... - page 7. (Read 4166 times)
I believe that Bitcoin and gold should not be compared. Understand that gold is a physical asset and Bitcoin is a digital one. Both of them are used to store of value. However, I am sure that no matter how crypto develops, gold will always be a valuable asset. Understood, physical assets are more usable than digital ones, and this should fundamentally distinguish them.
Gold and Bitcoin have their own segments. Gold investors are usually people who do not understand or are skeptical of cryptocurrency
But what will happen when the future generations who understand Bitcoin replace the people who do not understand Bitcoin
for bitcoin to be adopted more it doesn't have to replace anything specially not something like gold!
if your arguments were about bitcoin replacing banks and traditional financial systems then your arguments would have made more sense compared to now that you are insisting on comparing bitcoin with something that doesn't even fall under the same category as bitcoin (ie a currency).
Gold and Bitcoin have their own segments. Gold investors are usually people who do not understand or are skeptical of cryptocurrency
But what will happen when the future generations who understand Bitcoin replace the people who do not understand Bitcoin
I don't really think you understand the main ideology and purpose of bitcoin. If you do, you will never say that bitcoin is gonna replace Gold. Bitcoin was not developed to be an investment entity but it was meant to be an alternate form of physical currency which has no central body controlling it and provide a peer to peer environment for people to transact business with lesser charges.
Bitcoin is whatever you make of it. It's owned by the people, so the people decide what it is used for, not the creator.
Bitcoin gives people the ability to be their own bank, to store their own value. So it is a store of value.
Gold is a store of value. If Bitcoin eventually is seen as a more convenient and accessible store of value then it is possible that Gold will lose market cap to Bitcoin.
This has happened historically when Silver became easier to transact with than Gold, and then it switched back to Gold when countries began moving to the Gold standard. We are now off the Gold standard.
Maybe we will move to the Bitcoin standard?
Bitcoin will never replace gold, they are in totally different asset classes. You might just as well say water will replace air, both are essential to life, and they will continue to co-exist.
I blame some of the extreme maximalists who force the idea that Bitcoin is literally "digital gold" online. It is not. Although store of value is acceptable, literally "digital gold" is not in my opinion.
it is the new way of thinking that came from all the rises that have happened so far. people start thinking of bitcoin as a pure investment that is going to give them "fiat" profit. 2017 specially intensified this way of thinking.
the good news is that as the bubble burst of 2017 and the long bear market happened most of these people went away and the way of thinking dwindled.
Bitcoin will never replace gold, they are in totally different asset classes. You might just as well say water will replace air, both are essential to life, and they will continue to co-exist.
I blame some of the extreme maximalists who force the idea that Bitcoin is literally "digital gold" online. It is not. Although store of value is acceptable, literally "digital gold" is not in my opinion.
Bitcoin will never replace gold, they are in totally different asset classes. You might just as well say water will replace air, both are essential to life, and they will continue to co-exist.
I blame some of the extreme maximalists who force the idea that Bitcoin is literally "digital gold" online. It is not. Although store of value is acceptable, literally "digital gold" is not in my opinion.
Bitcoin has its own place in the portfolio of investors, and gold has its own separate space. We don't need to compare these two assets, as they are very different from each other. You can argue that Bitcoin is capable of replacing fiat cash or equities, but I wouldn't go ahead and claim that it is going to replace an asset such as physical gold.
Gold is being used by humans as an investment asset for the past thousands of years. None of the central bank issues assets, including treasury bonds or banknotes have managed to poach on its market share. The same goes for Bitcoin as well. As it is a digital asset, in future Bitcoin will be replaced by some other asset. But gold will always be there, irrespective of the technological advances.
basically gold has become a very valuable asset of the past. in fact, it can be said that gold and silver are the reasons for today's economic civilization. we know that all fiat has value because fiat is backed up with gold.Gold is being used by humans as an investment asset for the past thousands of years. None of the central bank issues assets, including treasury bonds or banknotes have managed to poach on its market share. The same goes for Bitcoin as well. As it is a digital asset, in future Bitcoin will be replaced by some other asset. But gold will always be there, irrespective of the technological advances.
currently, bitcoin is measured in dollars or fiat, and fiat is measured in gold/silver. I can't imagine what if bitcoin replaced gold. in addition, the most important thing is, gold and bitcoin are 2 different types of investments.
Bitcoin compared to gold, I think each of them has advantages and disadvantages. For long-term investments, gold will not give a big advantage, because the selling value is stable. Although Bitcoin is unstable, it is capable of generating great profits, even if you are using small capital.
Gradually people will see the potential owned by Bitcoin. They will also switch to Bitcoin because in this digital era people want instant gains. So Bitcoin is the right solution to invest.
Gradually people will see the potential owned by Bitcoin. They will also switch to Bitcoin because in this digital era people want instant gains. So Bitcoin is the right solution to invest.
Gold and Bitcoin have their own segments. Gold investors are usually people who do not understand or are skeptical of cryptocurrency while cryptocurrency investors are people who are connected to the internet. Bitcoin is still young and I think there is still a long time for Bitcoin to replace Gold
Bitcoin or other types of cryptocurrencies will never replace gold. Cryptocurrency cannot replace the usual fiat payment system either. By its nature, it can be used only along with the national money of states and was created as an alternative payment system to the existing payment systems.
It should be noted that cryptocurrency and electronic non-cash types of payments are completely dependent on the Internet and technical means of receiving and transmitting data. With various cataclysms, there is a real threat of their failure and then a financial collapse ensues, people will again switch to a direct exchange of goods, that is, to barter transactions. Therefore, all payment systems must work simultaneously.
It should be noted that cryptocurrency and electronic non-cash types of payments are completely dependent on the Internet and technical means of receiving and transmitting data. With various cataclysms, there is a real threat of their failure and then a financial collapse ensues, people will again switch to a direct exchange of goods, that is, to barter transactions. Therefore, all payment systems must work simultaneously.
I don't think bitcoin will replace gold because bitcoin is bitcoin, gold is gold. The two of them both have value, gold is physical while bitcoin is digital. In the modern world, we may become dependent on the technology but I don't think gold will lost or lessen its value. Gold is from the nature itself and is also limited, man didn't make it unlike bitcoin, and in the future, it'll be hard to mine gold that would make it more valuable. While bitcoin may be volatile but it's also a good way of investment if you're planning to hold it for like 1-5 years. But if you're planning to pass something to your grandson, gold is good.
I agree, for many people, Gold is more attractive than Bitcoin. Gold has been proven for thousands of years as a safe haven asset while for many people Bitcoin is a speculative asset that has no underlying. In my opinion, Bitcoin and Gold will go hand in hand as an investment for many people
Bitcoin has its own place in the portfolio of investors, and gold has its own separate space. We don't need to compare these two assets, as they are very different from each other. You can argue that Bitcoin is capable of replacing fiat cash or equities, but I wouldn't go ahead and claim that it is going to replace an asset such as physical gold.
Gold is being used by humans as an investment asset for the past thousands of years. None of the central bank issues assets, including treasury bonds or banknotes have managed to poach on its market share. The same goes for Bitcoin as well. As it is a digital asset, in future Bitcoin will be replaced by some other asset. But gold will always be there, irrespective of the technological advances.
Gold is being used by humans as an investment asset for the past thousands of years. None of the central bank issues assets, including treasury bonds or banknotes have managed to poach on its market share. The same goes for Bitcoin as well. As it is a digital asset, in future Bitcoin will be replaced by some other asset. But gold will always be there, irrespective of the technological advances.
You are kinda right about the ease of access of btc vs. gold and the other stuff,but for the average Joe,gold is and always will be the ultimate store of value.The average Joe,who isn't tech savvy simply can't understand how the blockchain works and he will never trust bitcoin,because btc is like thin air for him,while gold can be touched. 
But that perception won’t last a lifetime mate yeah for now average joe will choose gold over Bitcoin but things will change eventually and actual time after time there are more and more people worldwide are adopting and investing in crypto so it won’t take more than 10 years for this thing to finally happen .and I believe that when people had realized what do why bitcoin created fo sure they will changed mind from gold to crypto 
I don't think bitcoin will replace gold because bitcoin is bitcoin, gold is gold. The two of them both have value, gold is physical while bitcoin is digital. In the modern world, we may become dependent on the technology but I don't think gold will lost or lessen its value. Gold is from the nature itself and is also limited, man didn't make it unlike bitcoin, and in the future, it'll be hard to mine gold that would make it more valuable. While bitcoin may be volatile but it's also a good way of investment if you're planning to hold it for like 1-5 years. But if you're planning to pass something to your grandson, gold is good.
The intention of Satoshi Nakamoto to create bitcoin at 2009 ago is just for to make the payment system become easy. Which is mean he was created that bitcoin only for payment system and replace the function of money fiat. And I think he has succeeded in making this happen especially for the payment system which is make in different countries also to send money for those people in different countries.
But, since bitcoin price is depend on supply and demand which is mean depend on the user itself the price of bitcoin is really volatile and can make its price get through the value of gold. So, many people are consider that bitcoin is really have a function then bitcoin. Because bitcoin have two function that doesn't have by gold. I never seen there is some people who use gold as payment system although its price really stable.
But it will takes a long time to make bitcoin be trusted by all people on this world be like they sees gold. And I think that is just a matter of time and we will see that happen.
But, since bitcoin price is depend on supply and demand which is mean depend on the user itself the price of bitcoin is really volatile and can make its price get through the value of gold. So, many people are consider that bitcoin is really have a function then bitcoin. Because bitcoin have two function that doesn't have by gold. I never seen there is some people who use gold as payment system although its price really stable.
But it will takes a long time to make bitcoin be trusted by all people on this world be like they sees gold. And I think that is just a matter of time and we will see that happen.
Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.
I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.
I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.
These sentences are enough to give us the idea of where bitcoin is going to. So I'm on this one.
Bitcoin is not only used as assets where you can hodl, save for future but you can transfer it through wallets directly in exchange for fiat, this is a big gap between bitcoin and gold.
you shouldn't even be comparing bitcoin and gold because they have nothing in common and not in the same category for one to replace the other. bitcoin is a currency and gold is many things but not a currency.
They have more in common than meets the eye. Both gold and bitcoins are commodities as conventionally defined. More specifically, they could also both be considered commodity money -- as opposed to fiat money. After all, gold-money has served the function of currency for thousands of years. Bitcoin as a currency is actually much more immature.
Gold has other uses of course, although "money" (store-of-value, medium-of-exchange) is obviously the primary one. The OP is specifically talking about the store-of-value use case.
ugh!!! the two things have two different markets, different value, different purpose etc... nothing is gonna happen if bitcoin suppresses gold. gold will still have value
and bitcoin will continue to grow. I don;t really understand why people keep comparing these two things which doesn't have anything in common.
and bitcoin will continue to grow. I don;t really understand why people keep comparing these two things which doesn't have anything in common.
Bitcoin compared to gold, I think each of them has advantages and disadvantages. For long-term investments, gold will not give a big advantage, because the selling value is stable. Although Bitcoin is unstable, it is capable of generating great profits, even if you are using small capital.
Gradually people will see the potential owned by Bitcoin. They will also switch to Bitcoin because in this digital era people want instant gains. So Bitcoin is the right solution to invest.
Gradually people will see the potential owned by Bitcoin. They will also switch to Bitcoin because in this digital era people want instant gains. So Bitcoin is the right solution to invest.
Overtime I've researched what has made gold desirable as a store of value.
Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.
We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.
Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.
I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.
For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.
I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.
I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.
Please watch the video and let me know what you think. Thanks
https://youtu.be/UyaNJMxWmSU
Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.
We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.
Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.
I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.
For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.
I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.
I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.
Please watch the video and let me know what you think. Thanks
https://youtu.be/UyaNJMxWmSU
I don't really think you understand the main ideology and purpose of bitcoin. If you do, you will never say that bitcoin is gonna replace Gold. Bitcoin was not developed to be an investment entity but it was meant to be an alternate form of physical currency which has no central body controlling it and provide a peer to peer environment for people to transact business with lesser charges.
First of all, a half of topicstarter's words are just future targets. For today's moment the BTC usability is too low.
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