Has Bitcoin already won ? - page 3. | Bitcointalksearch.org

pieppiep

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Quote from: ChrisPop on September 29, 2019, 05:58:34 AM

I don't think it is appropiate to compare Bitcoin to Gold.

Yes, you are right. Bitcoin and Gold have run for different ways. Some people prefer to invest in Gold while others prefer to invest in Bitcoin, but some others prefer to invest in both Gold and Bitcoin. And so far, Bitcoin can be the investment and also a new payment method on the internet and some in real life.

But Bitcoin can be a Gold 2.0 on the internet and Bitcoin can be a new currency for all country if the government accept Bitcoin. We need approval from the government before Bitcoin can be a new currency so Bitcoin can work in real life and online life. Without that, people will be scared to use Bitcoin because they don't want to break the law.

teosanru

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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 ?

Has it isn't enough. Bitcoin was never designed to become Gold 2.0 or any commodity. Gold is a jewel which is popular because of its scarcity. It was used for a medium of exchange in our history for a short period of time however, it was never designed to be used as medium of exchange. While Bitcoin on the other side was used for transaction and act as a medium of exchange. It was never developed to create scarcity and increase it's price. So no countries will never make bitcoin as a standard like Gold Standard and nor will people use Bitcoin as Gold 2.0 Investment.

Shenzou

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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 ?

It is true that bitcoin has come along way from the state that it was on a couple of years ago, even though that it already caught the attention of many people and many investors i still don't think that it is considered gold 2.0 yet, and that is due mainly to how governments are regulating it which is holding many from holding it, so they might invest some money in it and once the price goes up a bit they sell it, they are not comfortable in holding it a long time knowing that at any point they could get pursued by law for it, it is going in that direction but there is a lot that needs to be made.

ChrisPop

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I don't think it is appropiate to compare Bitcoin to Gold. Gold is an hard asset, a precious metal with physical properties while Bitcoin is a virtual cryptocurrency. But fiat money aka USD does not have backing in hard assets(banknotes' materials are pretty much worth 0). Bitcoin is deflationary and it isn't controlled by a central authority like the fiat is controlled by governments. That makes it the perfect contestant to be the first worldwide mainstream currency.

If you are familiar with those SF movies I assimilate BTC/crypto to the "credits" used for transactions in space.

poptok1

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Quote from: yoseph on August 29, 2019, 11:27:49 AM

I believe that the greatest victory for Bitcoin will come when major retail companies like Amazon, Best Buy and the rest starts to accept it as a means of payment. I am sure that a time will come when they start doing that very soon.

Let's face it, those mentioned by you are small fries compared to transactions taking place in petrol industry.
The moment of absolute win and domination of bitcoin over the world is the first, legal and official petro-bitcoin deal.
Obviously it will also mark the new war, war on crypto from our current world policeman...
That's why I still think we can't declare a pure win. Long and twisty road ahead, Pikes Peak seem like corresponding comparison.
Power(adoption), grip(trust) and excellent driver(smart management) will be necessary in order to storm on to the top.

phamminhtan

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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 proven itself to be gold for a long time, and users are increasing daily. Please wait patiently.

abel1337

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

Quote from: Herbert2020 on September 29, 2019, 04:16:27 AM

bitcoin does not become a currency, it has always been a currency and then became an investment and then in later years since people kept comparing it with gold they came up with the name "gold 2.0" but since a lot of users including you are new around here you saw the end result of that and you think that end is the start and the future is becoming a currency.

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.

yazher

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Quote from: Thavash on August 29, 2019, 12:30:36 PM

Hmmm.... not sure if you guys watched the video , but my point was that a globally trusted store of value is a lot more important to global economics than a single currency.

We can say that Bitcoin has accomplished its purpose but not 100% but its a lot of accomplishment when it became known to the world.
The only problem that we are facing now as a Bitcoin enthusiast is its vulnerability to being used by those criminals.

If we can only find some way to stop this mischief caused by those criminals by using the name of bitcoins we can help it to become more popular in a positive way. All we can do now is we cannot let those Thug do what they want rather let's educate people that not all bitcoins are being used for criminal purposes only few are used by them.

In general, Bitcoins are being used as a means of payment by some big company in the world and in the local public government office, office on some other country, Bitcoins are being used to as a legal way of payment.

buwaytress

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Quote from: Herbert2020 on September 29, 2019, 04:16:27 AM

bitcoin does not become a currency, it has always been a currency and then became an investment and then in later years since people kept comparing it with gold they came up with the name "gold 2.0" but since a lot of users including you are new around here you saw the end result of that and you think that end is the start and the future is becoming a currency.

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.

matchi2011

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Quote from: imstillthebest on September 29, 2019, 04:35:56 AM

if there are thing such as gold 2.0 then that will still be gold in upgraded fashion but you cant call bitcoin a new gold or a gold 2.0 because its not a gold anyway . bitcoin needs to become a currency because that is its purpose but it can also work the other way around . it can work like a gold in which you can buy and make it as an investment asset . gold standard are much superior and bitcoin is not on the level of gold or on the standard of gold yet . it will still take many decades and centuries to prove itself but its possible that other cryptos are being measured by bitcoin .

It can be an investment asset indeed, but the catch is Bitcoin can rise high to the point that it will provide a huge benefit to those people who are interested to work and continue to invest their money. A lot of speculations regarding to the possibilities to become another venue of investment and wait till the value to rise high and become a good asset for its long term success.

NathanJB

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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 ?

There is no winning for as long as Bitcoin's value solely depends on its brittle reputation as a store of value. Gold is something whose value is sealed for eternity. Bitcoin cannot be like that. In fact, if we truly think of it a little bit deeper than most of us, without bias or prejudice, Bitcoin came from nothing and such is the very reason why it will also be gone. In the next 50 scores, or 10 decades, or the next couple of centuries or millennia, we do not know. What we know is that Bitcoin, too, shall pass.

Becoming a currency is an awesome feat for Bitcoin but it will not keep it forever wanted and utilized.

imstillthebest

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if there are thing such as gold 2.0 then that will still be gold in upgraded fashion but you cant call bitcoin a new gold or a gold 2.0 because its not a gold anyway . bitcoin needs to become a currency because that is its purpose but it can also work the other way around . it can work like a gold in which you can buy and make it as an investment asset . gold standard are much superior and bitcoin is not on the level of gold or on the standard of gold yet . it will still take many decades and centuries to prove itself but its possible that other cryptos are being measured by bitcoin .

Herbert2020

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bitcoin does not become a currency, it has always been a currency and then became an investment and then in later years since people kept comparing it with gold they came up with the name "gold 2.0" but since a lot of users including you are new around here you saw the end result of that and you think that end is the start and the future is becoming a currency.

Willitivity

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Bitcoin has come a long way, having stayed strong for 10yrs now is much of a win to me. On the other hand, comparing Bitcoin to gold is kind of unbalanced comparison as both of them don't work with sane sane system. And again, Bitcoin is should be considered as Gold 2.0, Bitcoin is a crypto and not metal.

CODE200

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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 ?

Even though bitcoin is not considered as gold 2.0 that is still enough. Bitcoin didn't need to make a big name to be known by other people. Both bitcoin have an advatage and disadvantages it just on the people who can manage their investment in either gold or bitcoin.

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Bitcoin have their own market, and same with gold. Both of them have advantage and disadvantage, and we can not say one is better than others

Gold is better for long term stable investment, but not as a payment. Bitcoin is better for payment and not for long term investment because of volatility. I ever saw some website that claim that he provide digital gold and send gold as payment to merchant, but actually it's not.

Bitcoin has already won in his innovations without bitcoin no other coin, but bitcoin has not yet win against gold

SirLancelot

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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 ?

I think that the main objective is the currency side of it and we cannot limit it to gold alone, which means we will be limiting it to being store of value while it can also serve as both gold and currency. What is the problem with our financial system is not investment right now, and we have more things to deal with.

The problem is the general financial system that has rotten and the limitation to some transactions within the traditional banking system using fiat, and this was known to be the main reason n was created to have that has primary function while store of value which we refer to as that gold 2.0 is just the secondary function of it which I usually term the reward focusing bitcoin system. It is a good thing that bitcoin is gradually gaining the store of value title, but what of the currency aspect?

antisocial77

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calm down my friend.we are too far away to compare bitcoin and gold.we can discuss if you talk about fiat money and bitcoin but we are not there yet, i dont think we at least.in the future yes i think there will be gold and bitcoin only.

pakhitheboss

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What has this led to?

Bitcoin was made to replace fiat currency and become the best payment network.

Now we are comparing it with Gold and discussing whether it can replace Gold. What a Big Joke!

Bitcoin is not a commodity it is a digital currency that is meant to overcome the hurdles of Fiat currency. It would be rather wrong to compare it with Gold.

trickyriky

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The Chine-USA conflict which is a real trading war already has affected the market. Bitcoin has gained more popularity and the number of financial deals with it increased by over 280%. At the same time, gold became a bit more popular, but not as much as BTC.

As we see, investors, especially, the largest one consider Bitcoin the better asset for now, but it still does not mean the BTC victory.

Topic: Has Bitcoin already won ? - page 3. (Read 831 times)