Topic: BTC is Gold 2.0 – What humanity has been waiting for centuries - page 3. (Read 3547 times)
January 29, 2017, 10:50:44 AM
It's more of an improved Gold, but with only one disadvantage: it depends on electricity and/or internet connection. Otherwise I love it and I think it really is the greatest innovation I had ever seen. The most important features are the portability because you can carry billions with you on a small piece of paper or on a phone app, and the anonymity which is useful in many scenarios!
January 29, 2017, 10:04:01 AM
Bitcoin can be compared to gold.
In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).
Albeit, not a function that most people ever want to have to use.
Bitcoin is even better than gold since it is more secure, it is digital and you can use it as a type of currency. And moreover, no one can control it even if the bank decides to accept Bitcoin. The more you use it, the more advantage it can bring to you. In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).
Albeit, not a function that most people ever want to have to use.
However, I would like to change the title a little bit: Cryptos are gold 2.0 since there are more potential cryptos have been created which are even more effective than Bitcoin
January 29, 2017, 08:40:08 AM
Yes, Bitcoin is Gold 2.0. We have no need to fear whether government will conduct raid and seize our holdings as we fear in gold.Unlike paper currency, Bitcoin is finite and so it is a precious asset.And it has the potential of giving more returns than gold.Even though it has just crossed its initial stage, still it is worth mentioning it as Gold 2.0.One more additional benefit than gold.Unlike gold, Gold 2.0 can be transacted easily to any part of the world.
January 28, 2017, 09:22:14 PM
The main purpose of gold 2.0 is being able to save your money in case of war/goverment tyrani/etc.
+ storing value over time (decades/centuries)
January 28, 2017, 09:20:08 PM
Bitcoin can be compared to gold.
In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).
Albeit, not a function that most people ever want to have to use.
Bitcoin is even better than gold since it is more secure, it is digital and you can use it as a type of currency. And moreover, no one can control it even if the bank decides to accept Bitcoin. The more you use it, the more advantage it can bring to you. In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).
Albeit, not a function that most people ever want to have to use.
However, I would like to change the title a little bit: Cryptos are gold 2.0 since there are more potential cryptos have been created which are even more effective than Bitcoin
Gold has lost its usage of being a "currency" due to this factor whereas bitcoin is coming with all the properties of gold+easy transfer facility. It means bitcoin is a "bug fixed version" of traditional gold, the humanity waiting for daily need.
Nope.
That's what I'm trying to explain.
We dont need gold 2.0 to pay the coffee.
The main purpose of gold 2.0 is being able to save your money in case of war/goverment tyrani/etc.
Paying a coffee with gold will not change the future of humanity
Bitcoin cannot be compared with gold. Gold is a precious metal. It can be used for many purpose. Bitcoin is also expensive. It can be considered as a saving if you are ready to take risk. We dont know the future of bitcoin. Because its price is volatile. Who knows if its price will crash tomorrow.Whatever we tell about bitcoin, its right, but after all its a man made software token. Nothing else. If someone hack any top bitcoin exchange or any firm ,thats it. Its price will crash. Imagine If its price crashs and becomes fews cents then there wont be any use with this bitcoin.
the technology behind bitcoin can also be used for multiple purpose, so this whole thing about gold being more important because it can be used on the real industry it's not a point so important anymore in favor of gold
you can use the blockchain to build a great amount of stuff on it, it can make life easier for many developers
sorry, but i'm gonna say it clearly. Fuck making life easier for many developers.
Noone has never forbiden anything to any dev.
(maybe there a few cases, like cryptography, but anyway)
The main purpose of gold 2.0 is being able to save your money in case of war/goverment tyrani/etc.
The more things we build over btc blockchain, more value will have, but again, that's not the main purpose of Bitcoin.
We dont need gold 2.0 to pay the coffee.
I think you are right. Gold was the most used store of wealth, but it was lacking the ability to be transfered easily. It could also be robbed. So Bitcoin is a very great innovation because it solves those two problems, but another one is created : you can loose your bitcoins by yourself ! Given the number of people that sent bitcoins to a wrong address, this is the proof that this is not just idiots that send their bitcoins to the wrong address. The developpers should maybe focus on this rather than on other useless things.
Thanks.
You're right.
That's why I say that btc is still not prepared to be adopted by non-tech people.
We need to focus on userfriendly usability/apps
January 28, 2017, 09:05:58 PM
Great post OP, it would alleviate a lot of future issues if everyone could come to the same agreement as you mentioned in the war portion. It will take time but I can definitely see BTC becoming something pretty similar to what you're describing. As more and more people catch on to what bitcoin actually is and the potential is has you can see actual worth steadily increasing. I don't foresee this stopping at all and I believe it will eventually transition / evolve into what you're describing OP.
Thanks!
Bitcoin can be compared to gold.
In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).
Albeit, not a function that most people ever want to have to use.
Bitcoin is even better than gold since it is more secure, it is digital and you can use it as a type of currency. And moreover, no one can control it even if the bank decides to accept Bitcoin. The more you use it, the more advantage it can bring to you. In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).
Albeit, not a function that most people ever want to have to use.
However, I would like to change the title a little bit: Cryptos are gold 2.0 since there are more potential cryptos have been created which are even more effective than Bitcoin
Nope
That's in fact the point of this thread
Cryptos are economy 2.0
Bitcoin is gold 2.0
Dont mix them...
Why do most of the people in this forum, even the Legendary ones think Bitcoin is synonymous to gold? Whenever Bitcoin is mentioned the first thing that comes in their minds are "wealth" and "earnings". Let those people out of here and bring back what it is all about. A censorship resistant, decentralized currency. Do you know what that means OP?
So according to you decentralized, censorship resistant, peerless network and currency system called Bitcoin, can't be compared to gold at all?No. Because comparing it to gold is very limiting. What inefficiencies can gold come in to and make them efficient? In fact gold itself is very inefficient to use. So why compare it with gold?
But if you do not have a clue what Bitcoin is then be my guest. Call it gold 2.0 if you want.
Quote
It may not be the most accurate representation what bitcoin really is but it is still good and solid parallel, especially for not bitcoin users.
Read the comment above.
Gold may not be perfect but is scarce and stores the purchase power (value)
Bitcoin is better, that's why is Gold 2.0
January 28, 2017, 08:54:21 PM
Bitcoin cannot be compared with gold. Gold is a precious metal. It can be used for many purpose. Bitcoin is also expensive. It can be considered as a saving if you are ready to take risk. We dont know the future of bitcoin. Because its price is volatile. Who knows if its price will crash tomorrow.Whatever we tell about bitcoin, its right, but after all its a man made software token. Nothing else. If someone hack any top bitcoin exchange or any firm ,thats it. Its price will crash. Imagine If its price crashs and becomes fews cents then there wont be any use with this bitcoin.
the technology behind bitcoin can also be used for multiple purpose, so this whole thing about gold being more important because it can be used on the real industry it's not a point so important anymore in favor of gold
you can use the blockchain to build a great amount of stuff on it, it can make life easier for many developers
What kind of "stuff" are you talking about? How can the blockchain make life easier for many developers? With what we are seeing right now it is making life harder for developers because they have to solve a new set of problems. One thing that made it easy for developers is getting funded by hyping the blockchain. All these blockchain pumpers will keep doing it as long as they can trick people into giving them money for "research and development". Which reminds me. What happened to the biggest VC funded Bitcoin startup, 21 Inc.?
January 28, 2017, 08:53:02 PM
I disagree with the OP. Bitcoin has a key difference with gold: its "intrinsic value" depends totally on the network of users and not on a form of "physical" scarcity like with gold.
Many say that Bitcoin is "scarce" because the number of "coins" is limited to 21 million. But Bitcoin software is replicable. We already see that there are many alt-chains emerging using Bitcoin clones or very similar software applications.
So one could say there is no real scarcity. However, that's also not true. The key fact is that the value of Bitcoin is exclusively related to the network of its users. One indicator is the sheer number of users. But even more important is the composition of the user base. There must be users that accept it for goods and services that really are solving needs of other users. That's Bitcoin's real scarcity: The network of users that already exist is very difficult to build up for a clone.
One can say that Bitcoin is used almost exclusively as a speculation tool and that's not important that goods or services are offered. But that's simply not true because you can do speculation the same way with all the other altcoins around there.
The key fact that makes Bitcoin more expensive/valuable than other similar "coins" is the possibility that it could be used some day as a worldwide general purpose payment system. That's the "to da moon myth", and that's why a Bitcoin today costs $1000 and not $3 like a LTC.
For this myth to work, the network of users and good or service providers must be constantly growing. So "real-word" goods and services - although not used very extensively in the community - play an important role for Bitcoin's value.
Many say that Bitcoin is "scarce" because the number of "coins" is limited to 21 million. But Bitcoin software is replicable. We already see that there are many alt-chains emerging using Bitcoin clones or very similar software applications.
So one could say there is no real scarcity. However, that's also not true. The key fact is that the value of Bitcoin is exclusively related to the network of its users. One indicator is the sheer number of users. But even more important is the composition of the user base. There must be users that accept it for goods and services that really are solving needs of other users. That's Bitcoin's real scarcity: The network of users that already exist is very difficult to build up for a clone.
One can say that Bitcoin is used almost exclusively as a speculation tool and that's not important that goods or services are offered. But that's simply not true because you can do speculation the same way with all the other altcoins around there.
The key fact that makes Bitcoin more expensive/valuable than other similar "coins" is the possibility that it could be used some day as a worldwide general purpose payment system. That's the "to da moon myth", and that's why a Bitcoin today costs $1000 and not $3 like a LTC.
For this myth to work, the network of users and good or service providers must be constantly growing. So "real-word" goods and services - although not used very extensively in the community - play an important role for Bitcoin's value.
Gold has value because of their users, the same as btc.
For gold is easier because it has been used by previous generations.
Bitcoin is scarce.
Gold is scarce.
You can paint whatever stone you want. It wont be gold.
Limited offer (21M BTC) and demand is just 1% of world population.
Bitcoin is yet to be adopted by 99%.
Who's gonna sell now when we all know that is still to be adopted by 99%.
Therefore, imagine what's gonna happpen with the price.
You understand now, why most of the people are hoarding?
The difference with LTC is the user base. + Network effect.
Bitcoin never grows constantly. The growth is usually focused in a little space time and then stagnation until is ready for the next adoption phase
Yes, real-world good and services and user-friendly apps are very important to move to the user adoption.
Anyway, we are not still in user adoption, we're moving to wallst adoption.
Bitcoin can be compared to gold.
In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).
Albeit, not a function that most people ever want to have to use.
In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).
Albeit, not a function that most people ever want to have to use.
Hope noone has to use because goverment tyrani (vzla) or because of war, but yes, you're right, transportability (you just have to remember 12 words) is a great property of btc.
January 28, 2017, 08:30:23 PM
Bitcoin cannot be compared with gold. Gold is a precious metal. It can be used for many purpose. Bitcoin is also expensive. It can be considered as a saving if you are ready to take risk. We dont know the future of bitcoin. Because its price is volatile. Who knows if its price will crash tomorrow.Whatever we tell about bitcoin, its right, but after all its a man made software token. Nothing else. If someone hack any top bitcoin exchange or any firm ,thats it. Its price will crash. Imagine If its price crashs and becomes fews cents then there wont be any use with this bitcoin.
Bitcoin is volatile because while the gold is adopted by the 100% of the potential investors/users,
bitcoin is still unknown for 99% of the world population
If the price crashes to cents, atleast 20% of the current users will go mad for cheap coins
Bitcoin and gold really looks alike. I can say that the portability is the biggest advantage of gold. You can move a large amount of wealth, which consists in relatively small amount of gold. And gold is easy to store, and relatively easy to hide. Bitcoin has the same properties. So it's really possible to call bitcoin as Gold 2.0.
Portability is not the biggest advantage of gold. Is storing value over time.
You can buy the same things you could 100 years ago. (well, excepting the new tech
)https://www.bullionstar.com/blogs/koos-jansen/how-constant-is-golds-purchasing-power/
You have the same purchasing power, which doesnt happen with other currencies
Yes, Bitcoin and gold share few properties such as both are great investment ventures, but it's not right to say bitcoin as Gold 2.0 as unlike gold bitcoin is very very volatile and even if the probability is low bitcoin can become totally worthless tomorrow(Not that I want it to happen). In today's market investing in gold is very safe, there is now way gold will become worthless I think we all can agree to that, now investing in bitcoin involves some risk. So one is safe and other has some risk so how can they be the same?
They're not the same, because I've explained, one is already adopted and the other is still to be adopted.
In fact, the reason why btc is so interesting investment is because still to be adopted by the 99%
January 28, 2017, 04:56:00 AM
The thing that are similar within gold and btc is the value itself
Exept that gold is back by a physical bulk and btc is virtual
Anyhow, value of bitcoin seems more stable xd
Exept that gold is back by a physical bulk and btc is virtual
Anyhow, value of bitcoin seems more stable xd
January 28, 2017, 04:49:40 AM
I think you are right. Gold was the most used store of wealth, but it was lacking the ability to be transfered easily. It could also be robbed. So Bitcoin is a very great innovation because it solves those two problems, but another one is created : you can loose your bitcoins by yourself ! Given the number of people that sent bitcoins to a wrong address, this is the proof that this is not just idiots that send their bitcoins to the wrong address. The developpers should maybe focus on this rather than on other useless things.
January 28, 2017, 02:02:47 AM
Bitcoin cannot be compared with gold. Gold is a precious metal. It can be used for many purpose. Bitcoin is also expensive. It can be considered as a saving if you are ready to take risk. We dont know the future of bitcoin. Because its price is volatile. Who knows if its price will crash tomorrow.Whatever we tell about bitcoin, its right, but after all its a man made software token. Nothing else. If someone hack any top bitcoin exchange or any firm ,thats it. Its price will crash. Imagine If its price crashs and becomes fews cents then there wont be any use with this bitcoin.
the technology behind bitcoin can also be used for multiple purpose, so this whole thing about gold being more important because it can be used on the real industry it's not a point so important anymore in favor of gold
you can use the blockchain to build a great amount of stuff on it, it can make life easier for many developers
January 28, 2017, 01:06:41 AM
Bitcoin can be compared to gold.
In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).
Albeit, not a function that most people ever want to have to use.
Bitcoin is even better than gold since it is more secure, it is digital and you can use it as a type of currency. And moreover, no one can control it even if the bank decides to accept Bitcoin. The more you use it, the more advantage it can bring to you. In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).
Albeit, not a function that most people ever want to have to use.
However, I would like to change the title a little bit: Cryptos are gold 2.0 since there are more potential cryptos have been created which are even more effective than Bitcoin
Gold has lost its usage of being a "currency" due to this factor whereas bitcoin is coming with all the properties of gold+easy transfer facility. It means bitcoin is a "bug fixed version" of traditional gold, the humanity waiting for daily need.
January 28, 2017, 01:04:22 AM
Why do most of the people in this forum, even the Legendary ones think Bitcoin is synonymous to gold? Whenever Bitcoin is mentioned the first thing that comes in their minds are "wealth" and "earnings". Let those people out of here and bring back what it is all about. A censorship resistant, decentralized currency. Do you know what that means OP?
So according to you decentralized, censorship resistant, peerless network and currency system called Bitcoin, can't be compared to gold at all?No. Because comparing it to gold is very limiting. What inefficiencies can gold come in to and make them efficient? In fact gold itself is very inefficient to use. So why compare it with gold?
But if you do not have a clue what Bitcoin is then be my guest. Call it gold 2.0 if you want.
Quote
It may not be the most accurate representation what bitcoin really is but it is still good and solid parallel, especially for not bitcoin users.
Read the comment above.
January 28, 2017, 12:11:34 AM
Bitcoin can be compared to gold.
In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).
Albeit, not a function that most people ever want to have to use.
Bitcoin is even better than gold since it is more secure, it is digital and you can use it as a type of currency. And moreover, no one can control it even if the bank decides to accept Bitcoin. The more you use it, the more advantage it can bring to you. In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).
Albeit, not a function that most people ever want to have to use.
However, I would like to change the title a little bit: Cryptos are gold 2.0 since there are more potential cryptos have been created which are even more effective than Bitcoin
January 27, 2017, 01:42:33 PM
Great post OP, it would alleviate a lot of future issues if everyone could come to the same agreement as you mentioned in the war portion. It will take time but I can definitely see BTC becoming something pretty similar to what you're describing. As more and more people catch on to what bitcoin actually is and the potential is has you can see actual worth steadily increasing. I don't foresee this stopping at all and I believe it will eventually transition / evolve into what you're describing OP.
January 27, 2017, 12:34:16 PM
Bitcoin can be compared to gold.
In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).
Albeit, not a function that most people ever want to have to use.
In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).
Albeit, not a function that most people ever want to have to use.
January 27, 2017, 09:03:10 AM
I disagree with the OP. Bitcoin has a key difference with gold: its "intrinsic value" depends totally on the network of users and not on a form of "physical" scarcity like with gold.
Many say that Bitcoin is "scarce" because the number of "coins" is limited to 21 million. But Bitcoin software is replicable. We already see that there are many alt-chains emerging using Bitcoin clones or very similar software applications.
So one could say there is no real scarcity. However, that's also not true. The key fact is that the value of Bitcoin is exclusively related to the network of its users. One indicator is the sheer number of users. But even more important is the composition of the user base. There must be users that accept it for goods and services that really are solving needs of other users. That's Bitcoin's real scarcity: The network of users that already exist is very difficult to build up for a clone.
One can say that Bitcoin is used almost exclusively as a speculation tool and that's not important that goods or services are offered. But that's simply not true because you can do speculation the same way with all the other altcoins around there.
The key fact that makes Bitcoin more expensive/valuable than other similar "coins" is the possibility that it could be used some day as a worldwide general purpose payment system. That's the "to da moon myth", and that's why a Bitcoin today costs $1000 and not $3 like a LTC.
For this myth to work, the network of users and good or service providers must be constantly growing. So "real-word" goods and services - although not used very extensively in the community - play an important role for Bitcoin's value.
Many say that Bitcoin is "scarce" because the number of "coins" is limited to 21 million. But Bitcoin software is replicable. We already see that there are many alt-chains emerging using Bitcoin clones or very similar software applications.
So one could say there is no real scarcity. However, that's also not true. The key fact is that the value of Bitcoin is exclusively related to the network of its users. One indicator is the sheer number of users. But even more important is the composition of the user base. There must be users that accept it for goods and services that really are solving needs of other users. That's Bitcoin's real scarcity: The network of users that already exist is very difficult to build up for a clone.
One can say that Bitcoin is used almost exclusively as a speculation tool and that's not important that goods or services are offered. But that's simply not true because you can do speculation the same way with all the other altcoins around there.
The key fact that makes Bitcoin more expensive/valuable than other similar "coins" is the possibility that it could be used some day as a worldwide general purpose payment system. That's the "to da moon myth", and that's why a Bitcoin today costs $1000 and not $3 like a LTC.
For this myth to work, the network of users and good or service providers must be constantly growing. So "real-word" goods and services - although not used very extensively in the community - play an important role for Bitcoin's value.
January 27, 2017, 09:02:54 AM
There is no doubt, this is a wonderful gift to humanity, I just believe BTC is the answer until we know the stance of government on it, because of so many uncertainties surrounding it, the recent PBOC interference proves how weak BTC is, the scaling issue is there also that has partly divided the community into two.
January 27, 2017, 08:33:57 AM
Yes, Bitcoin and gold share few properties such as both are great investment ventures, but it's not right to say bitcoin as Gold 2.0 as unlike gold bitcoin is very very volatile and even if the probability is low bitcoin can become totally worthless tomorrow(Not that I want it to happen). In today's market investing in gold is very safe, there is now way gold will become worthless I think we all can agree to that, now investing in bitcoin involves some risk. So one is safe and other has some risk so how can they be the same?
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