Has Bitcoin already won ? | Bitcointalksearch.org

DaftAjax

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Quote from: crossabdd on October 08, 2019, 10:29:12 PM

that assumption is from individuals. Until now there are still many governments that do not know Bitcoin. or they know bitcoin, but it's not legal. Personally, I consider bitcoin to be digital gold. because the concepts and properties are mostly the same as gold. bitcoin gold mined in mines, gold has a limited stock. bitcoin is also the same. rather than currency, I prefer Gold. I just think when the USD is replaced by gold / digital gold, then the equality of each country I think will be the same.

Then where do your assumptions come from?

Do you really think that the Government is turning a blind eye? Do you really think they're that naive? Even third-world countries already knew what's Bitcoin and companies already establish some new "businesses" (even in existing businesses) as means of regulation/acceptance of the exchange from some selected cryptocurrency to their specific currency (fiat). And the governments provide permits for them to run the business and these companies pay their taxes as means of "business".

peter0425

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Quote from: Thavash on August 29, 2019, 09:48:51 AM

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

Bitcoin is a currency but can be considered as gold also,but winning?no absolutely not because we have long run to go.we haven’t even recognized by 1/4 of the governments around the world
We haven’t been adopted by masses so the struggle is still far but at least there is a light that we are looking in future and how long will it takes?thats what we need to wait

Murat

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What do you think is enough? I don't think alike, Bitcoin has to go a long way. because only a few countries have accepted Bitcoin as a digital currency not more than that, Still, it isn't a currency anymore. it's true that a lot of countries are cryptocurrency-friendly but not all, so in comparison with Gold and currency announcement is not a good enough thinking, It's nothing if you can't get accepted everywhere, I don't think that Gold isn't comparable to Bitcoin in terms of acceptability and popularity, so Bitcoin is still in the struggling position and there is way to win anymore, I also think that Gold 2.0 doesn't bring any important thing regarding cryptocurrency establishment.

crossabdd

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that assumption is from individuals. Until now there are still many governments that do not know Bitcoin. or they know bitcoin, but it's not legal. Personally, I consider bitcoin to be digital gold. because the concepts and properties are mostly the same as gold. bitcoin gold mined in mines, gold has a limited stock. bitcoin is also the same. rather than currency, I prefer Gold. I just think when the USD is replaced by gold / digital gold, then the equality of each country I think will be the same.

alexsandria

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No, I dont think you can call it Gold 2.0. Yes in terms of as an investment and something that has value, bitcoin is maybe getting the edge, but gold as a whole, bitcoin can never replaced gold. The reason is that gold has different purposes. One is its used in medicinal equipment. Others are used in tools and other type of equipments that requires gold. I might be sounded funny because I take it literally, but again it is the real thing.

DaftAjax

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Quote from: darewaller on October 08, 2019, 12:34:20 PM

1) If adoption rate can increase, then it is possible that bitcoin actually pass for Gold 2.0 because like you said, the more the demand of bitcoin, the more that it appreciate and this is also the case of gold too, so bitcoin can still be held as store of value right now, just like the way people do hold gold believing that its value will increase.

2) The adoption rate of bitcoin is still very low, and if at this level of adoption, the price has already crossed over $7000, now imagine what the value will be in future when we have high growth of adoption. I don't know the percentage of adoption right now, but I am sure that it is still not up to 10 percent off the whole population. The market cap of bitcoin will still enter trillions definitely as we have more demand, so to me, bitcoin is more like gold right now.

Is it really necessary to have an "adoption rate", do we really have to have statistics about that?

1) The changes in Bitcoin's price isn't the same case as the gold. If people mined "gold" it doesn't necessarily affect its charts in the market, as it has a very "stable" market price. Unlike Bitcoin, since it is being mined "constantly", we can already see how it affects the charts in the market. Scarcity is the key--recap: the less the quantity of a priced "object"(tangible/intangible), the more valuable it is--Gold's scarcity isn't determined because we don't actually know every piece of gold sitting on this Earth, on the other hand, we already have determined how many Bitcoins are there, though we can't determine how high its market price would go, but I'm pretty sure it will be more expensive than Gold ever was.

2) Bitcoin's price was $19k in 2017, though it's just a massive bubble, I could assume that the number of users(who owns, holds, trades) now isn't that much of a difference back then. Though exposure would help(?), it will still be determined on how much.

darewaller

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Quote from: minersday on October 06, 2019, 09:52:36 PM

Bitcoin has its own qualities and it is never gold 2.0. I don't really think majority of people in the crypto space have taken their time to read the entire contain of Bitcoin's whitepaper. The reason why the value of Bitcoin has increased with the pass of time is the increase inn the demand of it. Once the demand of something increases, the value of it also increases in proportion to the demand. Bitcoin is just digital money and not gold 2.0

If adoption rate can increase, then it is possible that bitcoin actually pass for Gold 2.0 because like you said, the more the demand of bitcoin, the more that it appreciate and this is also the case of gold too, so bitcoin can still be held as store of value right now, just like the way people do hold gold believing that its value will increase.

The adoption rate of bitcoin is still very low, and if at this level of adoption, the price has already crossed over $7000, now imagine what the value will be in future when we have high growth of adoption. I don't know the percentage of adoption right now, but I am sure that it is still not up to 10 percent off the whole population. The market cap of bitcoin will still enter trillions definitely as we have more demand, so to me, bitcoin is more like gold right now.

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Quote from: rachmat5893 on October 07, 2019, 01:49:58 AM

Because Bitcoin continues to face increasing volatility, it is very likely that the market will soon get a better understanding of whether the Gold 2.0 narrative will be enough to lead BTC on other satellite dishes. Bitcoin (BTC) has experienced decent upward momentum, which has strengthened the "digital Gold" narrative.

I think that the largest investors will only buy Bitcoin. This is due to the highest degree of reliability and liquidity that Bitcoin provides. Altcoins are still a very speculative tool in the cryptocurrency market.

rachmat5893

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Because Bitcoin continues to face increasing volatility, it is very likely that the market will soon get a better understanding of whether the Gold 2.0 narrative will be enough to lead BTC on other satellite dishes. Bitcoin (BTC) has experienced decent upward momentum, which has strengthened the "digital Gold" narrative.

minersday

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Quote from: Thavash on August 29, 2019, 09:48:51 AM

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

Bitcoin has its own qualities and it is never gold 2.0. I don't really think majority of people in the crypto space have taken their time to read the entire contain of Bitcoin's whitepaper. The reason why the value of Bitcoin has increased with the pass of time is the increase inn the demand of it. Once the demand of something increases, the value of it also increases in proportion to the demand. Bitcoin is just digital money and not gold 2.0

Reid

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Will be better to be a currency.
We have the internet now and if stays just like gold then it might get left behind with just a couple of years and no one will ever care.
Unlike being a currency. The everyday usage of people could take it to greater heights.
Most of the time I do online orders for the items that I want and I also want my payment to be secured and fast.
That is one only of many examples that bitcoin could do and I simply want that to happen by now.

Shasha80

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Yeah you can say that with big smile. Bitcoin has won, because bitcoin has become a valuable asset in human history. Imagine
gold, which has been an investment asset for thousands of years, can be beaten in terms of price by the new bitcoin
just a few years. Don't forget bitcoin also created many opportunities to make profits on the internet. And bitcoin has
overcome the problem of poverty globally, even though it's not optimal. But many new rich people printed by bitcoin.
Even the proof that bitcoin has won are many , example inspirational stories spread on the internet many people can buy a car,
house, jewelry, motorcycle, and other valuables things with Bitcoin. Blockchain technology changing human lives become better.
Thanks to Bitcoin, I love u Bitcoin. Kiss

tsaroz

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Quote from: Thavash on August 29, 2019, 09:48:51 AM

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

Bitcoin has already won. It started from nowhere in 2009 and in a decade, crypto is topic the whole world is talking about.. It is being made an agenda on the meeting of world leaders and it has led to a revolution in tech sector. Blockchain is now a dedicated field of study and it's prime credit goes to bitcoin.

Genemind

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Bitcoin hasn't reached a complete success yet. Yes, it's a good investment which is comparable to gold but we all know that it could do more than an investment. Bitcoin success is when bigger companies and different merchants would accept and adopt it as a digital currency. Bitcoin as a mode of payment would bring a good impact on the market situation.

TheGreatPython

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Some people are so impatient. Must you compare Bitcoin to gold and other currencies? Why not just compare it with other cryptocurrencies?? There isn't much adoption for Bitcoin yet you people are comparing it with gold that have been around for centuries. I just wonder how some people sees this Bitcoin of a thing.

Bitcoin is good, but that doesn't mean that it will become everything. It's just a digital asset and won't he anything more or less than that. As for those that feels that Bitcoin is going to be the currency of the future, well, in case you don't know, other cryptocurrencies has the same vision to be the currency of the world.. But the truth is that none of them will become that. When the time comes that the world will have to make use of cryptocurrency, it's still going to be the same currencies that we are using now transformed to its crypto form. Every country will have theirs and it will be regulated by the government. There can't be 100% freedom as long the word government still exists.

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Quote from: coin-investor on October 02, 2019, 03:21:09 AM

Quote from: Thavash on August 29, 2019, 09:48:51 AM

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

Not yet, we can win some victory in our fight against centralization but that doesn't mean we already won, I will be using won if we have a massive adoption and 90% of countries and companies are using cryptocurrency and the price is what we desired and market will be controlled by the majority, right now only whales are controlling the market, this is the reason why we experienced unstable market condition

Winning is still in progress, we can see the legalization of different countries is happening one by one, its the proof that bitcoin is starting to be appreciated.

coin-investor

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Quote from: Thavash on August 29, 2019, 09:48:51 AM

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

Not yet, we can win some victory in our fight against centralization but that doesn't mean we already won, I will be using won if we have a massive adoption and 90% of countries and companies are using cryptocurrency and the price is what we desired and market will be controlled by the majority, right now only whales are controlling the market, this is the reason why we experienced unstable market condition

Sithara007

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Quote from: mk4 on August 29, 2019, 10:45:21 AM

It can be both. It shouldn't be one or the other. While I think bitcoin is in a decent state already, but why should we stop there? Why not continue to improve the ecosystem to make it better? And that's why people are developing second layer solutions for better privacy and better transaction scalability.

Can't put it any better than this. Bitcoin is the king of cryptocurrency right now. But that doesn't mean that the development activity should be ignored. If we want Bitcoin to remain at the no.1 position in the near future, then innovations needs to be made to the existing technology. A lot many good proposals are being put forward, but only some of them are being implemented due to the lack of consensus.

Talking about the second layer, the implementation of the Lightning Network has made the life easier for a lot of the Bitcoin users. The transaction fees has come down to tolerable limits and after its implementation, Ethereum lost one of its advantages over Bitcoin (as evident from its steep loss in value versus BTC). Now the Ethereum daily transaction fee is greater than that of BTC.

We should not stop with the Lightning Network. More actions are needed to address the two main concerns - scalability and privacy.

Blackdeath

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Quote from: Thavash on August 29, 2019, 09:48:51 AM

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

You cannot say that bitcoin is gold 2.0 because they are different. Maybe in the price bitcoin is much higher than gold but bitcoin is a cryptocurrency and intangible while the gold is a tangible one. Bitcoin will be a cryptocurrency forever unless Satoshi makes a decision about the bitcoin.

abel1337

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Quote from: buwaytress on September 30, 2019, 12:40:00 PM

Quote from: abel1337 on September 29, 2019, 05:24:56 AM

Quote from: buwaytress on September 29, 2019, 04:57:01 AM

I don't think it moves along those straight lines really. Bitcoin didn't ever stop being a currency, it started as something that attempted to be currency, was finally used by a few people and then adopted by others.

It's still a currency to guys like me, we only get paid in Bitcoin. This forum is full of Bitcoin users sending and receiving as currency.

Never took to the gold comparison myself. Investment? That's speculation and happens to anything volatile.

Bitcoin is considered as currency, Everyone cant change that fact unless satoshi Nakamoto does a thing in order to change bitcoin.

On the gold standard, Every gold that your country had is converted into fiat.

Regarding the post of OP. The gold standard doesn't apply to bitcoin. These are the reasons.

First, You can't convert all of the fiats into bitcoin because it has a fixed asset.

Second, you won't know who is the one who is holding bitcoins

Third, Not everyone can use bitcoin

There is more disadvantage than disadvantage thats why this will never be the new gold standard.

Um yeah, I was just saying I'm not really a believer in Bitcoin being the gold standard or that Bitcoin is Gold 2.0.

Rather different reasons (or at least, not all the same reasons as you) but yeah, you could convert out all the Bitcoin to dollars right now and not have enough coin, is one reason.

But are you saying we all know who holds all the gold as well? That's not at all possible.

Nope, The gold standard happened before and everyone is obsessed with gold. The more you have is the more you can produce fiat. Every country is sorting the gold amount they have and converting it into fiat.

I just think Its hard for bitcoin to be a new gold standard especially bitcoin has a fixed amount and gold are keep increasing. It won't pair each other.

We know we can't still use bitcoin as our global currency which adds to the factor of not having bitcoin as the new gold standard.

Topic: Has Bitcoin already won ? (Read 831 times)