Topic: Is Bitcoin a Digital Gold?? - page 23. (Read 6311 times)

Ues it will be. It is about the demand and the supply that affects it probably. The value will rise if there is a huge demand and only small supply. In other words if it is the case the value of bitcoin will continue to rise just like the gold because for sure more and more people are into bitcoin and that is why it will have a huge amount or value. And also it is a good place in where to invest.

It's exactly right that Bitcoin is a digital currency and not as a digital gold. Many people think like that because currently Bitcoin has a fantastic price value. So that's why many people now consider Bitcoin as an asset like gold. Back again, the most appropriate thing is that Bitcoin is a digital currency !!

Yes i also agree with that. Bitcoin is a digital gold. Although it has not physical appearance like gold but its value is comparable with gold. Gold is a limited source in the earth and every time we mine it quantity decrease from earth like that Bitcoin is also limited, it is only 21 millions and when bitcoin miner's mine it its quantity also decrease. Like gold its price also increases with every increase single year. And like gold it is also use for investment purposes but it's market price is highly volatile then that of gold.

I believe that it is considered as digital gold. You could say that, a digital asset that has valuable value on its fluctuations. can also be used as a medium of exchange to make transactions.

I cannot say that bitcoin is a digital gold because gold is one of the hardest stone and one of the expensive stone in earth. And bitcoin is not like that, bitcoin is a digital money or currency that can use in online. Gold, fiat currency and crypto currency have their own kind of characteristics and value on earth.  

Why does Bitcoin have the potential to become "digital gold"?
The idea of ​​Bitcoin, as well as other cryptocurrencies, is based on mathematics. To generate new Bitcoins, you need to solve the math problem. The solution to this problem requires a lot of computing power - it is not possible to "counterfeit" Bitcoin. The number of coins in the system is limited to 21 million, which combined with the need to solve the mathematical problem eliminates the phenomenon of inflation. Another advantage of the Bitcoin network is decentralization - the history of all transactions carried out so far is contained in a piece called a block chain (for explanation of this concept, as well as others in this article I refer to a glossary) whose copies are on the computers of all Bitcoin users . Miners dealing with transaction authorization are also spread all over the world. There is no central server, so it's harder to carry out an effective attack on the cryptocurrency. Bitcoin is divided into 8 decimal places, and the transfer time from anywhere in the world is about 10 minutes. The transfer fee is a few bitrames and can be matched to the BTC value so that there is no problem with too high commissions. These fees are entirely returned to miners who, after extracting 21 million coins, will receive remuneration only from the commission for transfers.

Bitcoin is like gold which has a higher value and is fantastic. So it's natural that many of these bitcoins see gold.

I do also believe that bitcoin should not be described as a digital gold because first and foremost, one of the major characteristics of bitcoin is, it is a digital currency. Currency as we all know, is the money that we are all using in transactions, paying bills, shopping etc. On the other hand, gold can't be use anywhere; it should first be converted to a physical currency to use it.

Judging by the cost and profit that pioneers have received, Bitcoin can be called digital gold, but the "gold rush" will still be there.

i think bitcoin can be called digital gold, but it is not yet a full currency.

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Absolutely right, i am talking with my fried and thay was also say bitcoin is a digital gold...
peoples are infuser and they have some wrong information about bitcoin   

Only Bitcoin is pure digital gold.and i totally buy into that. All the others tend to give up some of the aspects of bitcoil.It's a de risk asset .Basically if someone wants to outlay systematic risk,then one would go to access gole or digital gold....

Bitcoin can be said to be digital gold because bitcoin is so valuable and many people can make profits by holding bitcoin.

For instance, while some Bitcoin holders might jump at the chance to use Bitcoin to buy gold, others will continue to hold onto their digital assets. ... Overall, both gold and Bitcoin are valuable assets. However, gold has been a safe-haven asset for centuries. Bitcoin remains volatile and is indeed a risky investment.

Yes, a certain analogy is traced. Bitcoin is profitable to buy from the point of view of saving money (in a care !!!). So yes, the analogy with gold is pretty clear.

I also think what you say is true but bitcoin cannot be used as a currency yet because the price is still unstable, a merchant will be having difficulty to set the price of goods if bitcoin’s value is unstable, and it’s unlikely if there is an item with 1 BTC as the price then bitcoin’s value decreased while the material of the goods is very expensive so the price of the item will decrease automatically and the merchant will be disadvantaged. So more precisely bitcoin will be used as a digital currency if the price is stable like USD.

It seems like a lot of people now consider bitcoin as a form of digital gold instead of being an actual currency.  Whens the last time you traded gold for groceries?   We will let other currencies do the microtransactions with low fees and let bitcoin be the store of value.

Yes, of course it's true. Bitcoin is digital gold that brings us profits in the future. By investing in bitcoin it can change your economy, because bitcoin is an investment in the long run.

Ofcourse bitcoin is a digital gold.I think that there is not much difference in the concept of what bitcoin is. in different circumstances, it can perform different functions inherent in both digital gold and digital cash.Bitcoin is the best medium to earn money day to day .I think future bitcoin is not gold is like a diamond.Bitcoin give everyone a good future.

I think bitcoin exceeds gold because it has many uses. bitcoin has a function as a means of payment, investing and to trade, besides that bitcoin also has an unstable price and the price will be more expensive from year to year.