Topic: Bitcoin Will Replace Gold! Here's Why... - page 8. (Read 4166 times)
Even if this where to be true, I think it will be limited to those who are using btc for one reason or another, there are other category of people who gold are still very valuable to are will continue that way for as long as they exist, those people who wear gold accessories will always value gold come what may.
Once upon a time people thought tulips were a better investment than gold.
Gold is just a way for us to store our assets, Bitcoin can completely replace it in a future okay, but the stability and hard value of gold is still helping it win the trust of everyone.Hopefully the growth of bitcoin will be faster to gradually replace gold.
OP gold and other metals are their own market. Bitcoin and other cryptocurrencies are also their own market.
The thing is though that if Bitcoin eventually fulfills the objective of Gold - a stable store of value - then why would someone buy Gold?
People buy Gold, not because it is shiny, but because it holds its value compared to fiat, which has inflation.
If Bitcoin can offer this at a superior level to Gold (when Bitcoin eventaully has a higher Stock to Flow Ratio) then people will likely start opting for Bitcoin instead.
I believe each market will have its own niche in society. Gold found its niche, Bitcoin will too. But I don't believe one will kill of the other because the other one is "better", liquidity will only shift from Gold to Bitcoin, and Bitcoin to Gold cyclically.
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.
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
It wasn't a day before people started caring for gold. Silver was still a precious mine until people trusted gold. And gold's value surpassed silver. Who knows, in the future, Bitcoin moves faster than gold.
Gold is more than just a sum, it represents wealth, elegance, and beauty. Bitcoin cannot replace it, most people in the world are not aware of blockchain technology, bitcoin. Bitcoin has a strong volatility that is not suitable to replace gold. So this cannot happen in the future.
OP does have a few good points but the research falls into the weakness of many past research just like this,,, and therefore will not get the right attention. Studies must need to be really well cited with solid verifiable citations. This is the basic scientific methods that simple academic studies implement. Until we can do that for Bitcoin, let us not try fill the space with more such videos,,,
Thanks. At the end of the day, they are ideas, not fact.
And ideas don't necessarily need to be backed by science. They're just ideas.
I think it's useful and even enjoyable to consider the possible outcomes. There is no harm in considering, and being aware of what may be possible.
When Bitcoin was first created, not many people predicted that it would get this far. Part of the reason for this, is that they were afraid to think big, and even consider that possibility.
I think you are correct though, the video is very basic and needs more precise and clear solid facts to back the points.
I appreciate you watching - the reason I create videos is to share ideas; see how they stack up; get feedback on them; and see if people are thinking the same way, or, differently.
Gold is less volatile, and the conservative investors will always go for gold as a store of value and investment. If the world adopts bitcoin, then the price will be more stable and quickly bring a return on investment, and the people of the world will have no option than to follow bitcoin not totally leaving gold behind.
OP does have a few good points but the research falls into the weakness of many past research just like this,,, and therefore will not get the right attention. Studies must need to be really well cited with solid verifiable citations. This is the basic scientific methods that simple academic studies implement. Until we can do that for Bitcoin, let us not try fill the space with more such videos,,,
OP gold and other metals are their own market. Bitcoin and other cryptocurrencies are also their own market.
The thing is though that if Bitcoin eventually fulfills the objective of Gold - a stable store of value - then why would someone buy Gold?
People buy Gold, not because it is shiny, but because it holds its value compared to fiat, which has inflation.
If Bitcoin can offer this at a superior level to Gold (when Bitcoin eventaully has a higher Stock to Flow Ratio) then people will likely start opting for Bitcoin instead.
I believe each market will have its own niche in society. Gold found its niche, Bitcoin will too. But I don't believe one will kill of the other because the other one is "better", liquidity will only shift from Gold to Bitcoin, and Bitcoin to Gold cyclically.
It is all about offer and demand. Today everyone wants gold, as having hold offers you the stability of having a non-volatile asset and also the possibility to create your own jewelry if passionate about it.
To become a virtual gold Bitcoin needs a mass adoption. It is limited, secure, it start to have more and more use cases, so there is a good potential to become a virtual gold in the future.
To become a virtual gold Bitcoin needs a mass adoption. It is limited, secure, it start to have more and more use cases, so there is a good potential to become a virtual gold in the future.
OP gold and other metals are their own market. Bitcoin and other cryptocurrencies are also their own market.
The thing is though that if Bitcoin eventually fulfills the objective of Gold - a stable store of value - then why would someone buy Gold?
People buy Gold, not because it is shiny, but because it holds its value compared to fiat, which has inflation.
If Bitcoin can offer this at a superior level to Gold (when Bitcoin eventaully has a higher Stock to Flow Ratio) then people will likely start opting for Bitcoin instead.
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. 
I think the younger generations will see Bitcoin as the natural choice for them. They were born into a digital world. Gold will seem more like an alien and senseless object to them.
If they can't engage with it using their smartphone, they won't be very interested in it.
If Bitcoin is so much better than gold, why it didn't surpass gold already? It's been 10 years since it was created, and adoption as a currency or as store of value is still very low
It will take time for the education to take place.
It will take time for the market cap to grow.
And it will take time for the younger generations to become of age where they will begin investing in Bitcoin, instead of Gold.
But we cannot compare bitcoin and gold because it is different but in the same purposes to give a chance to people to make money.
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.
A few important things to consider here:
1. Gold was a currency, but now is not a currency. It lost that status to promissory notes, and then they lost to fiat currency. So Gold can lose its foot-holding.
2. Bitcoin is not just a currency, it is a store of value, and is currently primarily used as a store of value. It will be used more as a currency in the future when the volatility stops.
3. Bitcoin offers most of the advantages that Gold has, e.g. a high stock to flow ratio. So they do have a lot in common, and they have the same purpose. Bitcoin is superior in many attributes, except its utility as a metal.
I don't think bitcoin will send gold to oblivion. Both bitcoin and gold will co-exists together. There will be a market for both of them.
Yes I think they will co-exist for a long time.
Gold is something about traditonal. It will be with us longer than current investors will live
OP gold and other metals are their own market. Bitcoin and other cryptocurrencies are also their own market. There's no replacing of one for the other, because each has its own niche in society.
Then why not "Bitcoin will co-exist with Gold"? I believe the market share of one will grow, and the other contract, and back again depending on market cycles.
Then why not "Bitcoin will co-exist with Gold"? I believe the market share of one will grow, and the other contract, and back again depending on market cycles.
I think it will be good if we make bitcoin and gold a complementary investment portofolio. Actually gold has better investment properties in some cases compared to bitcoin, and vice versa. Many investors pretend bitcoin as speculative investment which give bigger size of opportunity for investors to gain profit rather than gold. Gold price movement are more stable with a proven track record. Based on statistic data throughout the year, bitcoin strengthening around 206.59% against the US dollar while Gold strengthening around 10.88% . Bitcoin seems better than gold this year, but bitcoin also made many people complained about financial loss on 2017.
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. gold will remain as it is as long as it keeps its use cases which it will. and bitcoin, as a separate and entirely different thing will grow only as long as it is offering what it is suppose to, meaning a decentralized secure payment system that is censorship resistant.
With the growth of bitcoin, crypto currencies, blockchain technology and more widely acceptance of crypto currencies globally, bitcoin will have better position in global financial areas. Bitcoin is a volatile asset, yes, but as we all witnessed so far, bitcoin has gradually become a new reliable channel when wars, conflicts occur.I agree that there is no common thing between Gold and bitcoin, and they actually have different customer populations too. The elderly will have difficulty to assess term of crypto currencies, bitcoin, wallets, and more things, so bitcoin has still been more favorite by younger-generations. The elderly, includes investors will stick with Gold, but the young investors might prefer bitcoin, instead of Gold.
Generally, both Gold and Bitcoin will do exist together in human civilization.
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.
If Bitcoin is so much better than gold, why it didn't surpass gold already? It's been 10 years since it was created, and adoption as a currency or as store of value is still very low - most people view it as a speculative asset. In the past some technologies took long time to get mass adoption, but this is because they needed a lot of improvements before the wider population can use them - this is not the case with Bitcoin, it's protocol is unlikely to see any major changes that would radically reshape it. So, why is Bitcoin not as popular as gold yet?
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