Is Bitcoin a Digital Gold?? - page 29.

Dswaggers

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Quote from: tonywangg on August 06, 2018, 03:16:00 PM

I also do not believe in this digital gold or some gold replacement. You need to have physical assets on hand like gold/silver. You must also have fiat (even though its garbage). Finally you must now in my opinion hold crypto. It's a brand new asset class which may overtake fiat so you need to be in just in case.

Well I think bitcoin is used as digital gold today. It's a de-risk asset. Basically if someone wants to outlay systematic risk, then one would go to access gold or digital gold (bitcoin),”

Ausgewielt

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Although you said like that but many people are already consider it as gold (gold 2.0). Bitcoin characteristics is closely like gold which is eternity, dividable without change the value but bitcoin has advantage which is fast and secure. I don't said that bitcoin is better than gold because the fact is most of countries are hoarding gold.

Josiah Dave Leonor

jr. member

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If we are going to base on its value, we can say that it is big enough as gold and People who hear the price of bitcoin will certainly be curious and will find out about bitcoin. Because the value of bitcoin is almost like gold.Investors, however, still turn to gold to diversify their portfolio

Garrixx

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ONe Social Network

I still consider it a digital currency in spite of the fact that everything is called its digital gold. I hope he finds his application exactly as a currency

prj112031

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Quote from: Vickyrichy on August 06, 2018, 03:03:27 PM

After reading a lot of posts made by people on this forum, I realized about 75% of them see Bitcoin as a digital Gold. For me, I don't think Bitcoin is a digital gold. Cryptocurrency or Bitcoin to be precise, was developed to be a safer option for transaction of goods and services and also the best mode of payment. Bitcoin was introduced to disable all the restrictions that banks and the financial system presented. A lot of people have lost huge sums of money because they saw bitcoin as a digital gold. I know others will argue that bitcoin has also made people rich but for me, I don't think it is advisable to consider Bitcoin as a digital gold. Bitcoin is a digital currency.

i am totally agree with you opinion, because it will be very hard to compare a digital to we all know has existence.

Sutters Mill

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Cryptophile at large

Quote from: cryptoJJJ on August 31, 2018, 07:28:34 AM

The Bitcoin whitepaper was made almost 10 years ago. The price of a Bitcoins was not expected to rise to the thousand for just one coin back then.

How do you know what value satoshi expected bitcoins to be worth? He did once say something along the lines of he envisions either huge adoption with lots of people using it or none at all in the future. If the former is true then I'm sure he would have expected that bitcoin would be worth a hefty value in fiat terms, but I guess satoshi's speculation is something we'll likely never know unless he ever returns (or he did actually say somewhere how much he would expect bitcoin to be worth).

basici

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the author in fact, you yourself understand that bitcoin has found a use for it exactly as gold and not currency, therefore it is called "digital gold"

cryptoJJJ

newbie

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Quote from: Vickyrichy on August 06, 2018, 03:03:27 PM

After reading a lot of posts made by people on this forum, I realized about 75% of them see Bitcoin as a digital Gold. For me, I don't think Bitcoin is a digital gold. Cryptocurrency or Bitcoin to be precise, was developed to be a safer option for transaction of goods and services and also the best mode of payment. Bitcoin was introduced to disable all the restrictions that banks and the financial system presented. A lot of people have lost huge sums of money because they saw bitcoin as a digital gold. I know others will argue that bitcoin has also made people rich but for me, I don't think it is advisable to consider Bitcoin as a digital gold. Bitcoin is a digital currency.

The Bitcoin whitepaper was made almost 10 years ago. The price of a Bitcoins was not expected to rise to the thousand for just one coin back then.
The use case for Bitcoins as a fast payment are limited, the network are reliable, but to slow to be used for a payment system. Other coins are better for that.
The high price also makes Bitcoins something people want to keep. It has proved itself as a safe haven against inflations. And that make Bitcoins to digital gold 2.0

rasmadisulaiman

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Depends on the perception of each person, but in my opinion bitcoin can function as a payment instrument as well as digital gold. Because both can be used as a transaction tool and also investments such as gold, but the risk is even greater when we use it as digital gold because it can lose if prices go down, and vice versa if it rises it will profit.

tokenabu

newbie

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It is not wrong to analogize Bitcoin as gold in digital form. Because to get it, you must "mine it" first. The trick is to solve mathematical problems that involve a series of complicated algorithm calculations on the computer. The difficulty level of algorithm calculation to get Bitcoin will increase even longer, so that a special computer is needed that can complete the mining process faster than ordinary computers. To mine it also takes a short time. As for the amount, Bitcoin has been designed from the beginning so that it can only be produced in a limited number of 21 million pieces. Over time, Bitcoin is predicted to no longer be "excavated" in 2140. It can be concluded that the numbers are equally rare and the value that is always rising is 2 characters that make Bitcoin and gold the same. Gold is believed to be a valuable precious metal, and its value will continue to be more expensive in the future. Therefore, gold is used starting from valuables, movable assets and investment.

pinoyden

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Quote from: randegibran on August 31, 2018, 06:14:39 AM

Quote from: Kadal Ijo on August 30, 2018, 10:51:29 AM

I think bitcoin is worthy of being used as a digital gold, this is because there are many similarities between bitcoin and gold, and I'm sure that the trend of using bitcoin will continue to increase so that it will become an always profitable investment.

what do you mean? bitcoin and gold are different. bitcoin has become the best investment on the cryptocurrency

we know that gold is different from bitcoin because gold has its own physical form and fully workable offline but bitcoin is fully dependent to internet and electricity . yet the op on this thread only see's the bitcoin as a digital gold because a gold is also an asset and a currency at the same time just like bitcoin and gold is also mineable on the real world . so i think yes , bitcoin can be considered as a digital gold . but if we are going to choose one between them , for sure many are going to choose bitcoin because bitcoin can open new posibilities .

Alamin9884

member

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I agree bitcoin is a digital gold.
Payment system, money transfer system very suitable if bitcoin called as digital currency.
So, I trust that it is considered as advanced gold.

randegibran

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Quote from: Kadal Ijo on August 30, 2018, 10:51:29 AM

I think bitcoin is worthy of being used as a digital gold, this is because there are many similarities between bitcoin and gold, and I'm sure that the trend of using bitcoin will continue to increase so that it will become an always profitable investment.

what do you mean? bitcoin and gold are different. bitcoin has become the best investment on the cryptocurrency

jeffreyrufino

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I think it's a good time to re-visit the whitepaper, it's peer to peer digital cash.

FionaRice124

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I think Bitcoin is considered the gold of the 4.0 technology era. They are also dug by machines and operators, but their value is very high. The Bitcoin market is also huge. The price of a Bitcoin - which for the first time surpassed the price of gold nearly a year ago - is now several times the value of an ounce of gold. Note that this is a comparative rate after the recent drop in Bitcoin prices while hovering around $ 7000, its highest all-time high in December 2017, is worth $ 20000.

SAYDAKHMETOV

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Gold is a luxury item, jewelry, supplies, storage. Gold today is not a means of payment or a method of transactions. It's more like just a commodity, by the way, you can buy for money and for bitcoins in that chile. Bitcoin is also created to pay for goods and services, a means of transfer and transactions. Bitcoin needs to be invested but a pq of purchase and sale. In the cold, such purchases and sales are not so profitable. So bitcoin can not be called digital gold. It's just a digital currency. This is something else.

CoinsGazer

jr. member

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I do not think so!
People always say that Bitcoin is valuable because of its scarcity and its consensus on it, just like gold. So bitcoin is digital gold.

However, the consensus is not the only reason for the value of gold. Gold has a certain value in use, it can be used to conduct electricity and can be used as a jewelry. This is why there is a limitation on gold price fluctuation. If the price of gold falls too much, people will use gold to make various electrical components and accessories. However, such a value standard does not apply to Bitcoin. Bitcoin has no other value in use, and the price fluctuation is also large.

quynhtran722

newbie

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Bitcoin has made investors much richer than gold recently, when in the past 12 months, this currency yielded 1,116%, far outnumbering the 12% that gold bring. Investors, however, still turn to gold to diversify their portfolio, using gold as a safe haven to protect them from the stock market downturn. These erratic movements will make it hard for Bitcoin to play a role similar to gold in the eyes of investors.

beami

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VANM - VIRAL ADVERTISING NETWORK MINING

You could say that bitcoin is gold because its value exceeds that of gold. This can tempt crypto enthusiasts or those outside cryptos. People who hear the price of bitcoin will certainly be curious and will find out about bitcoin.

poletando

full member

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PlayGame.com

from the big concept bitcoin and gold are same, it same mined to get it, and it have the high value, but both of them is totally different? why? because gold have a physic form and bitcoin doesn't have it, and the second thing is bitcoin have the max amount $21M and gold? we don't know it until right not

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