I believe that national currencies should also be added to this question, since Bitcoin has already begun to compete with oil, gold, as well as national currencies, namely, when the prices of these assets fell sharply during the economic crisis, many investors made a choice in favor of bitcoin. It is in this vein that a certain competition between these assets can be viewed.
There might have comparison/competition between oil/gold with bitcoin but they are separate thing and they will never replace one/another. They may go in parallel with each other. 
Topic: Bitcoin will replace oil and Gold - page 5. (Read 2304 times)
I believe that national currencies should also be added to this question, since Bitcoin has already begun to compete with oil, gold, as well as national currencies, namely, when the prices of these assets fell sharply during the economic crisis, many investors made a choice in favor of bitcoin. It is in this vein that a certain competition between these assets can be viewed.
Unlike bitcoin, we never know how much gold there is in the world,
gold is something tangible and is used for decorative purposes,
The question is whether after 21M bitcoin the bitcoin is compared as gold or not ?
gold is something tangible and is used for decorative purposes,
The question is whether after 21M bitcoin the bitcoin is compared as gold or not ?
I disagree, bitcoin cannot be replace oil and gold. Oil and gold control by the government which the government can desire to increase the price of oil or not in the country while bitcoin is a decentralized currency, that is not control by the government.
Bitcoin will still stand as a decentralized currency because the founder of bitcoin which is Satoshi Nakamoto does not created bitcoin to replace oil and gold than to help the bitcoin users to be free from third party in the areas of transaction.
During the pandemic oil and gold price dump when bitcoin price was increasing, that make people to think BTC will be replace centralized currency.
Bitcoin will still stand as a decentralized currency because the founder of bitcoin which is Satoshi Nakamoto does not created bitcoin to replace oil and gold than to help the bitcoin users to be free from third party in the areas of transaction.
During the pandemic oil and gold price dump when bitcoin price was increasing, that make people to think BTC will be replace centralized currency.
Speaking of raw materials like oil, I think banning it for decades, even the next century will still be difficult when the sources of clean fuels cannot be compared, we can also see cars that are powered by electricity and clean fuel, it cannot perform as fast as gasoline and diesel cars, and I haven't talked about cost yet, if I talk about it, oil still has too many advantages. Going back to bitcoin, its value started to collapse drastically, capitalization and liquidation happened very quickly, surpassing gold in value is only temporary, gold remains more stable with this era
I don't think that there will be a ban on gasoline any time soon. Electric vehicles remain extremely expensive compared to the diesel-driven ones, although their operating costs are low. Unless the EV manufacturers such as Tesla and Nissan find a way to make their vehicles more expensive, I don't expect the oil-driven vehicles to be replaced with electric vehicles in the next two or three decades. First of all, they need to find a better way to store electricity. The current bunch of batteries (Lithium-Nickel-Cobalt batteries of Tesla and Nickel-Manganese-Cobalt batteries of Nissan) are very inefficient and extremely unaffordable.
I don't agree if you say that because until now so many people know that bitcoin is an investment instrument. and different from Oil or Gold. maybe if we say it is related to Marketcap I agree because now the market capitalization of bitcoin has reached 1 Trillion and this is breaking new records besides the price that reached the ATH point. Gold and bitcoin are different concepts and they are irreplaceable
Bitcoin may be able to overtake gold in the near future, in terms of acceptability and market cap. But I don't think that we can use the term "replace" here. And regarding oil, it is a matter of time before it is replaced with cleaner technology. One century of fossil fuel usage has destroyed the planet and within a few decades I believe oil/natural gas usage will be banned.
Speaking of raw materials like oil, I think banning it for decades, even the next century will still be difficult when the sources of clean fuels cannot be compared, we can also see cars that are powered by electricity and clean fuel, it cannot perform as fast as gasoline and diesel cars, and I haven't talked about cost yet, if I talk about it, oil still has too many advantages. Going back to bitcoin, its value started to collapse drastically, capitalization and liquidation happened very quickly, surpassing gold in value is only temporary, gold remains more stable with this era
Bitcoin may be able to overtake gold in the near future, in terms of acceptability and market cap. But I don't think that we can use the term "replace" here. And regarding oil, it is a matter of time before it is replaced with cleaner technology. One century of fossil fuel usage has destroyed the planet and within a few decades I believe oil/natural gas usage will be banned.
I do not think that anything is replacing anything or will replace anything. For example: bitcoin is not replacing oil, gas, gold, fiat or any other thing. Bitcoin can be used as an alternative/another method, nothing else.
I agree that all such hypothetical reflections usually do not take into account the fact that, for example, gold and oil are goods that have a physical embodiment in reality and have a very real use other than as objects of speculation. Therefore, it is worth talking more about the emergence of another new asset for speculation in traditional markets, rather than about a replacement that will destroy all existing assets.I do not think that anything is replacing anything or will replace anything. For example: bitcoin is not replacing oil, gas, gold, fiat or any other thing. Bitcoin can be used as an alternative/another method, nothing else.
I agree that all such hypothetical reflections usually do not take into account the fact that, for example, gold and oil are goods that have a physical embodiment in reality and have a very real use other than as objects of speculation. Therefore, it is worth talking more about the emergence of another new asset for speculation in traditional markets, rather than about a replacement that will destroy all existing assets. 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 do not think that anything is replacing anything or will replace anything. For example: bitcoin is not replacing oil, gas, gold, fiat or any other thing. Bitcoin can be used as an alternative/another method, nothing else. 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!!
Bitcoin is the king of all coins. So not easy to replace the bitcoin. Bitcoin is any time to hit the price. Bitcoin is the future currency. So oil and god not reach the bitcoin price. It everyday price increasing.
Oil And Gold can't be replaced, but now we talk about the New source of investment, in 2015 the price of bitcoin was 0.5k $ and now after 6 years the price was multiplied 100 time, if i invested 1000 $ in 2015 i Will earn 100k $ now, this is crazy men !
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!!
Well, that is just an assumption, there is no possible way for bitcoin to end Gold and oil dominance in near future. Let say Bitcoin will be adopted by masses still it will not be able to replace gold and oil as a trading option because of its limited supply and extreme volatility.
How can bitcoin replace oil, is that possible? It is not possible. Oil are used by companies to runs powerful power engines, it is used by automobiles, aircraft and many of such. As of today's world, oil is very necessary. But what can happen is the fact that there can be a time when the world will move away from oil to hydrogen powered engines and other non-oil products, this will be a big fall for oil and oil producing countries.
Bitcoin has been what people are now using to compare gold, gold is still the strongest for now, but as people are moving digital, very possible in some decades now, bitcoin may dominate. There is no much value in gold than people are demanding for it which makes its price to increase as a result of scarcity. If people are later going digital may result to gold marketcap not increasing the way it suppose to be. Also, we can not just make conclusion, we do not know yet what the nearest future (like 50 years time) will bring up.
Bitcoin has been what people are now using to compare gold, gold is still the strongest for now, but as people are moving digital, very possible in some decades now, bitcoin may dominate. There is no much value in gold than people are demanding for it which makes its price to increase as a result of scarcity. If people are later going digital may result to gold marketcap not increasing the way it suppose to be. Also, we can not just make conclusion, we do not know yet what the nearest future (like 50 years time) will bring up.
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!!
Bitcoin will no replace anything, not fiat, not oil and not gold. Bitcoin will be there to serve as another option or alternative means by which people can exchange money, or pay for goods and services. Bitcoin will co-exist with existing financial markets to further bring ease to all economic and financial transactions
Oil and Gold both are various things to use. Oil gets replaced by how people will drive their cars and bike.
Discussion about Gold, which is more famous than bitcoin, is unimaginable for bitcoin to supplant it. Gold more adaptable, and individuals favor it.
The government is behind the Gold and oil, and they'll never wish to supplant it anything.
I agree with you but oil and gas is not limited we are getting more and more oil and gas in many places. But Bitcoin will not be re-produced after a time. But the user of bitcoin is increasing day by day. And I think comparatively user of bitcoin is increasing more than gold and oil day by day. Yet use of these 3 things are separate way so there will not be any chance to be replaced. Discussion about Gold, which is more famous than bitcoin, is unimaginable for bitcoin to supplant it. Gold more adaptable, and individuals favor it.
The government is behind the Gold and oil, and they'll never wish to supplant it anything.
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!!
No, none of this will happen. Bitcoin cannot replace the material objects of our world for us. These are numbers and signs, nothing more. How can bitcoin replace oil in general? They will do everything with bitcoinOil 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!!
what is made of oil? Can't Bitcoin replace bread and other food then?
Also, the claim that governments are secretly buying bitcoins is nothing more than fantasy. States and their governments do not need bitcoins. In any case, I have not come across such information.
All commodities cannot be replaced with bitcoin because it existed before bitcoin existed in the world, bitcoin is just digital money as an alternative, and does not mean it can replace all commodities easily.
Very often bitcoin is associated with gold or something that can replace gold or something else, all of this often happens when the price of bitcoin goes up high and is always associated with what existed long before bitcoin existed.
Very often bitcoin is associated with gold or something that can replace gold or something else, all of this often happens when the price of bitcoin goes up high and is always associated with what existed long before bitcoin existed.
Oil is done so They replace bitcoin instead of oil.
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