Topic: Bitcoin will replace oil and Gold - page 11. (Read 2286 times)
Bitcoin can not replace oil and gold, because those three characters (bitcoin, gold, oil) are unique in different ways. Eg, oil is used in vehicles, and there's no way bitcoin can replace that, gold is obtained from the earth, people work hard for it. Gold and oil are very essential to mankind, so they can not be replaced by bitcoin.
This is likely what said as "Bitcoin will replace fiat".
In my personal opinion, it will never happen.
Bitcoin will exist and will have much bigger involvement and also its power in this world. But, it really doesn't mean that BTC will replace gold and also oil. They may be influencing as per financial systems. But, they are real things and they are needed in this world. They are the same, limited. But here what makes it important is that they may be in line with BTC, but BTC doesn't replace it.
Let's think, people around the world most will need oil, what will they do or we do without oil? BTC can not replace the function of oil and also gold.
I am wondering in what case BTC will replace oil?
In my personal opinion, it will never happen.
Bitcoin will exist and will have much bigger involvement and also its power in this world. But, it really doesn't mean that BTC will replace gold and also oil. They may be influencing as per financial systems. But, they are real things and they are needed in this world. They are the same, limited. But here what makes it important is that they may be in line with BTC, but BTC doesn't replace it.
Let's think, people around the world most will need oil, what will they do or we do without oil? BTC can not replace the function of oil and also gold.
I am wondering in what case BTC will replace oil?
The possibility is not in doubts because bitcoin has already trying to dominates all over the countries, the ambitions of op is quite clear that bitcoin can take cover of oil and Gold across the world, because the rate of people adventuring into cryptocurrencies especially bitcoin and other coin's in the name of trading is in higher frequency, so from my perspective its not something that bitcoin can actualised these year but it will take space within a period of time. Because looking at present things that's happens in cryto world people purchase and invest in Btc more than any other thing.
Bitcoin adoption is growing so fast that we aren't even realizing it but not the way op stated. We are having huge adoption from institutional investors rapidly, if we could recall how millions of tether were printed the day bitcoin fell to.$3.7k, it was pump back to 4k-5k range, they should be in 4x of their investment.Coming back to Gold and oil, Its not feasible to make such comparism with Bitcoin. There are so many factors that will oppose bitcoin use for daily spending, volatility is a major problem for all and would make utilization difficult. Gold and oil were affected by this Corona pandemic which caused lots of havoc but only with regulatory we can utilize oil and Gold.
Let's make example,
Day 1, bitcoin cost 10k and a liter of oil will cost 0.001btc
Day 2, bitcoin cost 12k, what will should happen to oil price, will the value remain or hanged?
These are the big factors and I believe government will not sit and watch. I love Bitcoin as store of value and cryptocurrency in general than any other assets though.
This chart shows Bitcoin and macro assets Return this year and their volatility, this shows bitcoin can never be oil and oil can never be bitcoin. They may be correlated due to some economic factors and big players in price manipulation.
I don't think what you say can happen, Bitcoin can replace the dollar but it is not able to replace gold or oil, although I am a bitcoin fan but that is illogical Bitcoin is unstable and cannot get the same confidence as people in gold. As for exchanging bitcoin for oil, this is really strange! I don't know how to exchange bitcoin for oil? Oil is an essential element in moving the wheel of the global economy and cannot be dispensed with at the present time. But if you mean to exchange Bitcoin for oil, this is something that happens in some countries that suffer from embargoes, but it cannot be generalized.
Oil and Gold has come to stay and Bitcoin is not here to replace them but to complement them. All these commodities have different purpose which they serve in the world economy, Oil in particular is what drives wealth across the world, most Bitcoin whales do not want to part with it and I don't see how Bitcoin can serve that role, Bitcoin selling point is store of value which to me is a good selling point and will help it a lot unlike all these useless Altcoins that promises to change the world
No there, I don’t see it that there is going to be any replacement, although as the world keeps growing there are some changes that has been happening and a lot of things that are being powered by oil are now becoming electrical and less and less things now have to rely on the oil. Things are basically changing, and a similar situation for gold.
But, that doesn’t really mean that investments will now be going into Bitcoin just because of this, but a small percentage of their money will. It’s just like the company that invested 1 percent of its total assets in Bitcoin which is around $50 million or so. They will be investing in Bitcoin, they are having interest, but there are also other investments they will be going for.
But, that doesn’t really mean that investments will now be going into Bitcoin just because of this, but a small percentage of their money will. It’s just like the company that invested 1 percent of its total assets in Bitcoin which is around $50 million or so. They will be investing in Bitcoin, they are having interest, but there are also other investments they will be going for.
Governments all around the World Secretly start using together with banks the bitcoins.
Oil is done so They replace bitcoin instead of oil.
The btc volatility might go like daily 50k-100k price Changes.
Bitcoin will be instutionalized permanently.
The Global market prices Liqutation postion will be fluctuated by Bitcoin price.
I said this before but nobody didnt listen but now its here!!
I think bitcoin cannot replace oil and gold those companies are very big compare to bitcoin. Oil are using everyday and gold used it everytime people they want so why we need to compare bitcoin to gold and oil. Maybe there are popular but not the same and bitcoin never replace that two. Oil is done so They replace bitcoin instead of oil.
The btc volatility might go like daily 50k-100k price Changes.
Bitcoin will be instutionalized permanently.
The Global market prices Liqutation postion will be fluctuated by Bitcoin price.
I said this before but nobody didnt listen but now its here!!
Nobody listens or no one will ever believe this statement even me. Bitcoin is too far behind Oil and Gold, mate. This will never happen that it could replace this two stable commodities across the globe. Despite Bitcoin's popularity and being the largest cryptocurrency in the market, it can't still replace nor beat the stable value of Oil and Gold which is existing many decades ago until now. Bitcoin gives us too many different great features and profits but we can't deny the fact that it is decentralized unlike Oil and Gold which is tangible and proven stable in our lives since then.
The possibility is not in doubts because bitcoin has already trying to dominates all over the countries, the ambitions of op is quite clear that bitcoin can take cover of oil and Gold across the world, because the rate of people adventuring into cryptocurrencies especially bitcoin and other coin's in the name of trading is in higher frequency, so from my perspective its not something that bitcoin can actualised these year but it will take space within a period of time. Because looking at present things that's happens in cryto world people purchase and invest in Btc more than any other thing.
Nobody listens or no one will ever believe this statement even me. Bitcoin is too far behind Oil and Gold, mate. This will never happen that it could replace this two stable commodities across the globe. Despite Bitcoin's popularity and being the largest cryptocurrency in the market, it can't still replace nor beat the stable value of Oil and Gold which is existing many decades ago until now. Bitcoin gives us too many different great features and profits but we can't deny the fact that it is decentralized unlike Oil and Gold which is tangible and proven stable in our lives since then.
I don't think bitcoin would replace everything, not even oil, gold, and other precious metals, because no one controls bitcoin due to decentralization. Unlike oil and gold, it is authorized by the government based on its currency. Oil and gold have a different purpose and uses, so it's unlikely for bitcoin to run a car and conduct electricity and make jewelry. Still, bitcoin might surpass gold and oil as an investment and a safe asset.
It is never possible for bitcoin to replace oil and gold because bitcoin is so predominant in the world of decentralized crypto with oil and gold linked to the country's economy it will depend on the country's government. If the system of import and export trade is far away the price of these will increase at present the value of these items has come down a lot due to the fact that the country's economy has been hit by the epidemic and inflation has risen these natural resources cannot be replaced by any organization.
That's why it's impossible for bitcoin to replace other things like oil and gold because of it's decentralization. Do you think government will allow bitcoin to replace gold? How can a car run without gas and oil? What I mean is everyone of them have an special rule in our economy despite of their value. Also they have different features and uses , So Bitcoin will not replace any other thing ,...if ever it will be a very long process.
Oil and gold cannot be replaced, because they are real, and very useful in life,
whereas Bitcoin is an intangible asset, for now, we don't know how bitcoin is used in the future,
whether as a means of payment or just as an asset. and remember, OIL and Gold are not something that can be easily for replaced,
whereas Bitcoin is an intangible asset, for now, we don't know how bitcoin is used in the future,
whether as a means of payment or just as an asset. and remember, OIL and Gold are not something that can be easily for replaced,
Bitcoin will remain as a cryptocurrency and it can’t replace oil and gold because those are a different assets where investors can also hold. Oil is very important and there’s no replacement for this one yet despite of the growing technology, and gold exist for many decades now and it will not fade away easily. If bitcoin reach that price, I’m sure Oil and Gold is still in the market, they have to.
He meant it by relevance, not necessarily replacing gold and oil literally because those things are arbitrarily different from one another. In the coming days, bitcoin may essentially replace both commodities especially now that the world is slowly turning away from environment-harming activities which both gold and oil partake in, this will be the best period for bitcoin to shine among investors.That is true and Bitcoin replacing Oil's value is quite possible BUT that can only happen if people will not rely on harnessing the power that Oil can produce. Oil is almost necessary within most power systems. If people can utilize Nuclear energy, there will be no need for Oil. Gold on the other hand is one of the most unique element because of its utilization and I guess Gold has been utilized to its maximum. Bitcoin can always surpass them and all we need to do is wait.
Governments all around the World Secretly start using together with banks the bitcoins.
Oil is done so They replace bitcoin instead of oil.
The btc volatility might go like daily 50k-100k price Changes.
Bitcoin will be instutionalized permanently.
The Global market prices Liqutation postion will be fluctuated by Bitcoin price.
I said this before but nobody didnt listen but now its here!!
Oil is done so They replace bitcoin instead of oil.
The btc volatility might go like daily 50k-100k price Changes.
Bitcoin will be instutionalized permanently.
The Global market prices Liqutation postion will be fluctuated by Bitcoin price.
I said this before but nobody didnt listen but now its here!!
If you are so sure that Bitcoin will replace Oil and Gold, have you tried using it physically? Are you willing to place Bitcoin to power up your automobiles or engines that works? Or using Bitcoin as an accessory?
Bitcoin's value is really wonderful but replacing things in the physical world is not possible. I only think Bitcoin will achieve some value cap which will be its best value and people will realize how important Bitcoin is once its recognize by governments in a good way.
No, Bitcoin won't replace gold and oil because both substances have a lot of use cases in many spheres of life. Bitcoin is just a virtual currency, it doesn't have any physical implementation.
It may not exactly replace them but as an investment those who used to buy gold may either have started to buy bitcoin or may think of buying it . In terms of returns or the use which bitcoin has is also needs to be considered and those who find it useful will shift their focus to bitcoin for sure. This may lead to some less demand for gold as compared in previous year.
Probably in making an assumption for Bitcoin replacing oil and gold is not a good thing. IMO, Bitcoin may dominate the two stocks (gold and crude oil) but it will never replace them, US only decided to go electric because they want to cover themselves from being the consumer of oils. This will then give them power and much stronger economy. Electrics will then become a source of economy. They will be monetizing it the way we didn't expect and will tell us that they only stopped consuming oil because of nature.
As you can see on these links, they had both different (Bitcoin, Gold and Crude Oil)
https://tradingeconomics.com/commodity/gold
https://tradingeconomics.com/commodity/crude-oil
https://coinmarketcap.com/currencies/bitcoin/
No, Bitcoin won't replace gold and oil because both substances have a lot of use cases in many spheres of life. Bitcoin is just a virtual currency, it doesn't have any physical implementation.
It may not exactly replace them but as an investment those who used to buy gold may either have started to buy bitcoin or may think of buying it . In terms of returns or the use which bitcoin has is also needs to be considered and those who find it useful will shift their focus to bitcoin for sure. This may lead to some less demand for gold as compared in previous year.
Hey buddy, I like bitcoin, every idea and concept associated with it as a store of value but don't think bitcoin will replace Gold and Oil for now, it's not feasible perhaps in the future. The centralized Bodies/Government are watching bitcoin growth and every adoption, they know what they are doing and by the time it's no longer favourable for them, they threatened and use media to trash it value.
You must have seen how Bitcoin was so attached to Gold and Dow Jones during the pandemic market sell, it was indeed a disaster because most investors in stock market, hold Bitcoin as well, a plunge in other market always has effect on Bitcoin.
You must have seen how Bitcoin was so attached to Gold and Dow Jones during the pandemic market sell, it was indeed a disaster because most investors in stock market, hold Bitcoin as well, a plunge in other market always has effect on Bitcoin.
You are all wrong. because, Bitcoin will not replace oil, gold, or any other thing. All these markets are having their reactions and own benefits for people and depending on people's interests and usually patient and risk level they can choose a market. Considering the gold huge demand and incensing demand over time, it has a very huge, old, and more stable market, and nothing and replaces gold at least not that soon. But, on the other hand, bitcoin is high risk and unstable market and ideal for long-term holders, the bitcoin market is defiantly rising but this can't get more market cap than oil and especially gold.
It is widespread Bitcoin will not replace its position with anyone. Elegant in one's position, no one appears to seize someone's position. Gold is a very ancient myth of ours and also is oil. And Bitcoin is a cryptocurrency that is not sluggish. Their characteristics are also incompatible, so their posture is also greatly elevated from different positions.
You may think that gold and oil has a lot of use cases but the reality is they are getting more scarce and people are looking to remove them from the use cases and try to make them less relevant. For example oil is used for cars right? Probably used the most there?
Well, we are moving towards electric cars, instead of drilling for oil, we are getting wind turbines and solar panels and so forth to make it as well, renewable energy means you do not spend it and its gone, it means winds will always be there, and even though energy needs to be created from something, we do not need to replace the sun or the winds, they are natural so it will work forever. Hence oil will be replaced one day or another. Gold on the other hand has such a limited supply in reality that, the more you use it, the less there is so its replaced by many things already.
The reason why bitcoin will replace gold and oil is not because bitcoin will be demanded more, it would be because gold and oil will be demanded less.
Well, we are moving towards electric cars, instead of drilling for oil, we are getting wind turbines and solar panels and so forth to make it as well, renewable energy means you do not spend it and its gone, it means winds will always be there, and even though energy needs to be created from something, we do not need to replace the sun or the winds, they are natural so it will work forever. Hence oil will be replaced one day or another. Gold on the other hand has such a limited supply in reality that, the more you use it, the less there is so its replaced by many things already.
The reason why bitcoin will replace gold and oil is not because bitcoin will be demanded more, it would be because gold and oil will be demanded less.
Actually, there is nothing wrong with this if in the middle of both situation has changed, because in history gold and oil is older than bitcoin but, eventually, if there is a good combination in between I think its a good idea , but to the right place there's no one can break the goal of Bitcoin even in a long period I think it is fully protected, usually, you can buy oil and gold by using Bitcoin but to replace it is impossible.
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