Topic: Dinar, Dirham to BITCOIN - page 2. (Read 277 times)

yes it is indeed different because there is still controversy for bitcoin. and the dinar dirham has long been recognized. I think it's because there is no manifestation of bitcoin. just a system that makes it different. but that could be possible if one day bitcoin is recognized throughout the world. and become the best currency.

Bitcoin is called as the digital counterpart of gold for some reasons but it does not mean that it has all the features that the real gold has. One, just like gold Bitcoin has a finite number of supplies or limit. Second, there is so-called mining and we know what does it mean for both Bitcoin and physical gold. Third, both are valuable and traded in the global marketplace. Now, of course there are features that made both assets to be different. For example, real gold has weight because it is tangible (can be seen and touched) while Bitcoin is the opposite. Gold can be processed and be made into different products and has many industrial uses and the same things can not be said of Bitcoin. Bitcoin just recently came into the history of humans while the real gold has had been with us for millennia.

Gold, in terms of price movement, is more stable than Bitcoin as it has little volatility the thing that makes Bitcoin a stand out but also a feast for many speculators. However, both are considered to be good store of value and that is why they are compared side by side and many of those who are into gold are not also eyeing how they can invest in Bitcoin. Gold should have been the one backing many fiat currencies but starting in the 70s this had been changed that is why many consider the current fiat system to be soon worthless...lucky are the limited countries who are still tying their currencies with the value of gold.

Nope, their governments are just supporting the currency and keep it at a range beneficial for their economic system. Egypt had similar system,but everything got missed when the economy dropped.

So, as long as these country economy is ok, they can support their currency. Otherwise, it will be open to trading and price will shift.

Free price is better in my opinion. These situation will surely lead to economic problem, now or later.

So, in my opinion, these currencies are very far from gold. Gold is staple while being open to trading.

Dinar and dirham are a bit different from Bitcoin. Let's see some different things below.
1. Dinar and dirham are recognized by all countries in the world, while there are many countries still not recognizing Bitcoin.
2. Dinar and dirham have been proven to have stable prices, while Bitcoin's price is volatile or unstable.
3. Dinar and dirham are backed up by an institution, while Bitcoin is not backed up by any institutions.

We cannot conclude that Bitcoin is a digital gold based on some people's opinions. It should get a legitimation from many parties.
However, I don't say Bitcoin cannot be a digital gold but I think it is too early to equalize Bitcoin and Gold.

dinar and dirham system is like this. you can buy one chicken with one dirham, two years later you buy one chicken with one dirham. there is no different when you buy right now or for some years later.
2010 someome buy pizza with 10.000 bitcoin, now how many bitcoin if you want pizza? 10.000? nope, it just 0.00... so when you said that bitcoin system is sam like dinar dirham, i will say you are wrong.

That's right the concept of bitcoin is the same as gold in the real world, because of the way the mining system and its stock are
limited to making a similarity between bitcoin and gold. Therefore, bitcoin is referred to as digital gold. Although once there is a
difference between gold and bitcoin in price, bitcoin as we know the price is fluctuating because has volatility while gold is more stable.
When discussing the dinar dirham from arabic it is gold from arabic, of course the character is the same as gold in general.

It can be compared to some aspects of gold but is also completely different to how bitcoin works in some aspects, but it's been dubbed "The Digital Gold" for such a reason.

For example, bitcoin has a limited supply like gold, but it's unstable, unlike gold, and also has quite a lot of demand. It's also pretty safe if there are ever any issues with fiat and it'll be able to retain its value.

I don't know it impossible to compare digital currency into the gold because both have an own function and use in the market, like fiat market every country have an own control of their currency circulation.




This is absolutely correct and I agree with you sir to be clear have a big difference between digital gold and physical gold.

Yeah, Bitcoin is  digital Gold. Actually, the solving of transactions is called mining. So yeah, i think the concept came from Gold. But not as stable like actual Gold and not backed by real gold. Some stablecoins out there are using real Gold tho. So they are more stable than Bitcoin. Some are backed by their national currency. But they are more likely just for safehaven for unstable cryptocurrency market.

there are some people consider Bitcoin is digital gold. because of its mining system and limited stock. So do you think the concept of bitcoin refers to Gold? because gold has a stable value throughout the world. if true. then the country that uses the first stable coin is arabic, with its dinar and dirham. and perfected by bitcoin with computer networks and the internet. What's your opinion.?