Topic: Can Bitcoin surpass Gold ? Could it be used as (Store of Value) instead of Gold? - page 3. (Read 3068 times)
June 06, 2015, 04:05:28 PM
Thing about gold is that I might have 500 Million KGs on my backyard just waiting to be rigged up... Now if that would happen that gold would lose it value.
June 06, 2015, 06:39:20 AM
It's very possible. Only time will tell.
Food for thought: Bitcoin is extremely scarce with a hard cap. It is infinitely divisible, extremely mobile, cost nothing to "transport" and takes up almost no physical space (other than the device used to send/receive).
There will ever only be 21 million bitcoins. There is over 50 million troy ounces of gold mined each year (current estimates are about 80 million troy ounces per year).
Essentially no store/merchant accepts gold coins/bars in exchange for goods. The number of places accepting bitcoin in exchange for goods/services has gone up dramatically over the past few years.
In 10 years I give Bitcoin a 20%+ chance of truly being a Gold 2.0.
In 20 years I give Bitcoin a 50%+ chance of being the new global reserve currency.
Food for thought: Bitcoin is extremely scarce with a hard cap. It is infinitely divisible, extremely mobile, cost nothing to "transport" and takes up almost no physical space (other than the device used to send/receive).
There will ever only be 21 million bitcoins. There is over 50 million troy ounces of gold mined each year (current estimates are about 80 million troy ounces per year).
Essentially no store/merchant accepts gold coins/bars in exchange for goods. The number of places accepting bitcoin in exchange for goods/services has gone up dramatically over the past few years.
In 10 years I give Bitcoin a 20%+ chance of truly being a Gold 2.0.
In 20 years I give Bitcoin a 50%+ chance of being the new global reserve currency.
Thank you for your reply.
All what you said is true and makes sense.
I just have a question regarding this point
Quote
In 10 years I give Bitcoin a 20%+ chance of truly being a Gold 2.0.
On what basis did you say 20%+ or it's just speculation ?
June 05, 2015, 11:56:03 PM
It's very possible. Only time will tell.
Food for thought: Bitcoin is extremely scarce with a hard cap. It is infinitely divisible, extremely mobile, cost nothing to "transport" and takes up almost no physical space (other than the device used to send/receive).
There will ever only be 21 million bitcoins. There is over 50 million troy ounces of gold mined each year (current estimates are about 80 million troy ounces per year).
Essentially no store/merchant accepts gold coins/bars in exchange for goods. The number of places accepting bitcoin in exchange for goods/services has gone up dramatically over the past few years.
In 10 years I give Bitcoin a 20%+ chance of truly being a Gold 2.0.
In 20 years I give Bitcoin a 50%+ chance of being the new global reserve currency.
Food for thought: Bitcoin is extremely scarce with a hard cap. It is infinitely divisible, extremely mobile, cost nothing to "transport" and takes up almost no physical space (other than the device used to send/receive).
There will ever only be 21 million bitcoins. There is over 50 million troy ounces of gold mined each year (current estimates are about 80 million troy ounces per year).
Essentially no store/merchant accepts gold coins/bars in exchange for goods. The number of places accepting bitcoin in exchange for goods/services has gone up dramatically over the past few years.
In 10 years I give Bitcoin a 20%+ chance of truly being a Gold 2.0.
In 20 years I give Bitcoin a 50%+ chance of being the new global reserve currency.
June 05, 2015, 07:55:59 PM
Hello,
After watching this YouTube video
Bitcoin 101 - Modelling the Price of Bitcoin - Is a $100,000 bitcoin possible?
https://www.youtube.com/watch?v=g2nXgK34HIM
A question has raised a flag in my head.
Can Bitcoin surpass Gold ? Could it be used as (Store of Value) instead of Gold in the coming 5 - 10 years ?
Is it possible and probable ? Not even 100%, but like 20-50% ?
What do you think ?
After watching this YouTube video
Bitcoin 101 - Modelling the Price of Bitcoin - Is a $100,000 bitcoin possible?
https://www.youtube.com/watch?v=g2nXgK34HIM
A question has raised a flag in my head.
Can Bitcoin surpass Gold ? Could it be used as (Store of Value) instead of Gold in the coming 5 - 10 years ?
Is it possible and probable ? Not even 100%, but like 20-50% ?
What do you think ?
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