I doubt Bitcoin can replace oil and gold, because both have been used for thousands of years. Indeed, for now investing in Bitcoin is
more profitable than investing in oil and gold, but because Bitcoin cannot be controlled by the government. So the government definitely
prefers oil and gold over Bitcoin. I think Bitcoin will probably only be used as an investment alternative, after all, Bitcoin's popularity is
still below oil and gold. There are still many people who don't understand Bitcoin, so it's too early to mention Bitcoin will replace oil and gold.
Topic: Bitcoin will replace oil and Gold - page 12. (Read 2304 times)
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.
Logical! Bitcoin can't replace gold, or oil... we can't wear bitcoin around the neck, or drive a car on bitcoin. Bitcoin as virtual asset can be used as currency (medium of exchange)! I like to think about crypto as evolution, like the next level on many fields, especially in the economical way! Current system is corrupted in the bones, we need changes and crypto can make those changes! You can compare btc (or some other coins/tokens) with anything else just in terms of value, and in that sense bitcoin is already more valuable than most raw materials and products that comes from raw materials!
I don't think it's possible for bitcoin to replace these mainstream assets which are oil and gold. Many crypto users are having thoughts of bitcoin as a safe-haven asset which is because it's the new-gen assets we can invest right now instead of the traditional assets.
They are treating bitcoin as the digital gold of this era since they are capable of trading worldwide. Well, technically, bitcoin's price value can overly take or replace gold since many investors will choose its price potential in the market.
They are treating bitcoin as the digital gold of this era since they are capable of trading worldwide. Well, technically, bitcoin's price value can overly take or replace gold since many investors will choose its price potential in the market.
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.
Gold and oil are the two dominant assets in the reserves of nations and banks. The world is shifting economic structure and keeping an eye on bitcoin. Bitcoin is new to investors, they look clean and not pumped. Maybe bitcoin will be the next pump.
Gold and oil have their own use-value and cannot be compared to bitcoin. I agree that in the future there may be more money flowing into bitcoin but not in the place of oil and gold.
Gold and oil have their own use-value and cannot be compared to bitcoin. I agree that in the future there may be more money flowing into bitcoin but not in the place of oil and gold.
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!!
I understand the bitcoin/gold comparison, but what are you trying to say about oil? Oil isn't an asset anyone uses to store wealth or value. Oil is a critical part of the world economy, it's used just about as fast as it is produced and there isn't a lot of infrastructure for storing oil long term when it's not needed to be used, which is why the world's oil producers constantly tweak production to match consumption. The comparison with bitcoin doesn't make any sense at all.
non sense, how could it possible to replace oil with bitcoin? Oil come from the natural resources and bitcoin comes from nothing if this bitcoin has not been back up by gold or fiat currency then it could have no value at all.
You see you can't get bitcoin without buying it using fiat unless you know how to decrypt bitcoin and that will lead you to open some or get some by cracking it or decrypting it.
You see you can't get bitcoin without buying it using fiat unless you know how to decrypt bitcoin and that will lead you to open some or get some by cracking it or decrypting it.
Most of the OP's posts actually don't make sense. Sometimes he criticizes bitcoin, and now this, he is pro-btc. But just to answer his post, bitcoin is no way gonna replace oil or gold. Those are tangible assets that you can't just pull out of nowhere.
non sense, how could it possible to replace oil with bitcoin? Oil come from the natural resources and bitcoin comes from nothing if this bitcoin has not been back up by gold or fiat currency then it could have no value at all.
You see you can't get bitcoin without buying it using fiat unless you know how to decrypt bitcoin and that will lead you to open some or get some by cracking it or decrypting it.
You see you can't get bitcoin without buying it using fiat unless you know how to decrypt bitcoin and that will lead you to open some or get some by cracking it or decrypting it.
It sounds very weird for me. The gold and oil have been getting its value caused by the demand and both have needed by a lot of people. bitcoin has its own usefulness and there's no chance for bitcoin to touch the oil or gold.
You should know if anything has its own purpose. It will be more suitable if you were saying bitcoin will replace the fiat money to be a secondary payment system.
Im losing my mind if bitcoin will be replacing oil and gold.
That's something that totally nonsense.
You should know if anything has its own purpose. It will be more suitable if you were saying bitcoin will replace the fiat money to be a secondary payment system.
Im losing my mind if bitcoin will be replacing oil and gold.
That's something that totally nonsense.
Bitcoin is overhyped, it can’t replace those major commodity as easy as we think. Bitcoin can’t be use to run a building, a car or anything aside from Oil in the market and this is the reason why Bitcoin will remain bitcoin. As per gold, we don’t know how much supply of gold that we have in the market and in the underworld, its existence began since then and yet there’s more supply coming, it will remain as a valued asset and Bitcoin will become best digitally.
Why is people always come into thinking that the existence of Bitcoin can replace the already existent things in the present and turning them into phase out when in reality both can still be existent without replacing anything. The wrong mentality of the people is that the existence of the latest technology makes it a point for the replacement of the old existing things and turn them into an innovative one on which not all are replaceable just like gold and oil that have their own unique usages and Bitcoin cannot accommodate such usage alone. Oil and gold have existed a long time ago and people are already familiar on using it, making it a point that Bitcoin cannot replace those.
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.
I have the same though since imagine how could this thing happen? Those 2 are major commodity and it will not easily eliminated in the scene and also they are both so valuable. Maybe OP is taking to much thinking about Bitcoin and imagining those impossible things to be happen.
But one thing is for sure their Bitcoin will be added on the option and will compete on the trades with other listed.
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. 
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.
Gold and Oil as it stands today are mainly commodity. Bitcoin is digital money. So their functionality differs. Therefore you cannot categorically expect that Bitcoin will replace Oil and Gold.
Maybe he means in terms of investment government can decide by their own if they think that bitcoin can give them income for the next more years and will lost their investment in oil and gold they can move to other investment.
Its investment even individual persons or small investors do that and invest only to what they think is profitable for them. they are just securing thier money if they know they will lose in other investment why would you continue supporting drop it and find other alternative that will be beneficial for you in long term.
You are correct
The btc will not become oil or gold.
It just will replace the oil and Gold position in Investment area
Nah, I guess that won't be happening. Nothing's more precious than oil and Gold, it'll always be a good investment tool for any government. It's usage alone makes it stand out every other investment in the market, and we're talking about daily use.
You want a solid proof how good oil is an investment?
Look back how Dubai looks like in 2000.
Bitcoin will be a good investment tool as well, but don't expect something like this to happen.
Another day, another useless topic from Polo7.
Yeah, I've been seeing this user posting a lot of unnecessary threads like this one coz it have been discussed for many times almost every month in every year. Useless, as we describe it 
But then again, opinion is this, bitcoin will never, ever replace gold in just a simple fact, people will never lose trust to a precious tangible thing, they would not trust bitcoin that isn't tangible, highly volatile and more prone to stealing than gold under the soil. It is just impossible for people to depriciate gold's value over bitcoin.
If bitcoin can beat the performance of oil, gold and so on, I think it is possible and but cannot replace it and there are many real and unreal differences that existed before bitcoin existed in the world and many other reasons and differences.
Bitcoin can be said to be just a new, developing and attractive asset class that is in demand by many people or investors and is becoming the most popular because it promises good returns.
Bitcoin can be said to be just a new, developing and attractive asset class that is in demand by many people or investors and is becoming the most popular because it promises good returns.
That's impossible to happen because those things have a huge difference although there are a lot of money in all of them.
Gold is very far different from Bitcoin because bitcoin is a digital asset which can be stored in an online platform of wallet. It is much easier to transact and to use compared to Gold that you need to undergo a lot of process before you benefit it. Also bitcoin is for a short-term investment and should be monitored every single day, compared to gold that is for a long-term investment and do not require a lot of attention. Both are profitable but they have differences so bitcoin can't replace gold and oil that easily.
Gold is very far different from Bitcoin because bitcoin is a digital asset which can be stored in an online platform of wallet. It is much easier to transact and to use compared to Gold that you need to undergo a lot of process before you benefit it. Also bitcoin is for a short-term investment and should be monitored every single day, compared to gold that is for a long-term investment and do not require a lot of attention. Both are profitable but they have differences so bitcoin can't replace gold and oil that easily.
OP should note that several threads have been made concerning this topic already. It's only good that one should make the necessary research before creating a new thread.
However, to answer your question, bitcoin will not replace gold or oil. It should be noted that gold and oil have certain advantages over bitcoin and these give them an edge.
I do agree that the volatility of bitcoin makes it good for investment, but it is also its volatility that makes it risky as a form of investment.
Many investors will only invest in low risk investment and gold and oil serve as the best option for this
However, to answer your question, bitcoin will not replace gold or oil. It should be noted that gold and oil have certain advantages over bitcoin and these give them an edge.
I do agree that the volatility of bitcoin makes it good for investment, but it is also its volatility that makes it risky as a form of investment.
Many investors will only invest in low risk investment and gold and oil serve as the best option for this
Gold and Oil as it stands today are mainly commodity. Bitcoin is digital money. So their functionality differs. Therefore you cannot categorically expect that Bitcoin will replace Oil and Gold.
Maybe he means in terms of investment government can decide by their own if they think that bitcoin can give them income for the next more years and will lost their investment in oil and gold they can move to other investment.
Its investment even individual persons or small investors do that and invest only to what they think is profitable for them. they are just securing thier money if they know they will lose in other investment why would you continue supporting drop it and find other alternative that will be beneficial for you in long term.
I mean yes this!!
You are correct
The btc will not become oil or gold.
It just will replace the oil and Gold position in Investment area
I don't know if it is just the OP or everybody is trolling in the comments.
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