Is Bitcoin a Digital Gold?? - page 35.

crypto1010

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Quote from: Vickyrichy on August 06, 2018, 02:03:27 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.

75% is a huge statistic but I think this was what most people believed when btc was new to many but now people are using it as an alternative payment option especially if they are avoiding giving out their info.

Quote

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.

There is some sort of contradiction if your say people shouldn't consider bitcoin as digital gold but see it as a digital currency, but don't you think it can be both Huh

And when it comes to investing in anything am sure everyone first looks at the risk factor which is why your due diligence is important

Eminem23

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Quote from: Vickyrichy on August 06, 2018, 02:03:27 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.

Yes, of course, I fully agree with this statement, as bitcoin shows its level, and this level, though inferior to gold, but still nice to watch such growth and promotion of cryptocurrency.

Payme21

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Bitcoin can atually be termed a digital gold due to the amount of value attatched to it. What gives gold its importance is the value attatched to it and bitcoin posses such if not more so i dont think anyone will be wrong to call it a digital gold but we all need to be wise when investing in bitcoin.

GhostWithin

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Quote from: krishnaverma on August 26, 2018, 12:19:14 PM

Quote from: harobaru on August 26, 2018, 06:57:18 AM

it is comparision of bitcoin with digital number because its price increases like a digital number varying thats why called bitcoin is a digital gold.

I do not agree with this comparison because:

1) There is a lot of difference in the pace with which price of gold and bitcoin grows.

2) When we compare from security point of view, it is hard to keep gold safe from hackers or thief.

3) Even from ease of convenience, these two do not match.

unlike the precious metal bitcoin doesn't need bank storage. With the help of BTC you can store millions of dollars on a regular flash drive, and to send them to the other end of the world and it will take only a few minutes (Well, if the network is not overloaded again Grin

).

A7373

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In my opinion, this is just digital gold about which we all think. Bitcoin is a substitute for all metals.

Evil eye

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I also think that bitcoin isn't a like as gold. Bitcoin is a online digital currency but it isn't touchable. Gold is globally useable valuable metals. Gold is gold.Bitcoin is such as a online currency, not as like a gold.Bitcoin is a valueable digital online currency and gold is a valueable metal.

Zigzagkuy

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Bitcoin has been used very often by the community and has become a good investment place for the long term. Like gold, bitcoin can be said to be digital gold I think. Because bitcoin has the potential to continue to increase and this is good for long-term investments. I agree with that.

Himanshu111

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Quote from: krishnaverma on August 26, 2018, 12:19:14 PM

Quote from: harobaru on August 26, 2018, 06:57:18 AM

it is comparision of bitcoin with digital number because its price increases like a digital number varying thats why called bitcoin is a digital gold.

I do not agree with this comparison because:

1) There is a lot of difference in the pace with which price of gold and bitcoin grows.

2) When we compare from security point of view, it is hard to keep gold safe from hackers or thief.

3) Even from ease of convenience, these two do not match.

Yes I think this can be said because people are preferring bitcoin over gold and people are also using bitcoin as an asset as they are holding their bitcoins for future rise in price.Gold is very stable and so it gives very little or no profits.But on the other hand bitcoin is very volatile and so prices rise abd people get good profit rates.Investing in bitcoin is also a profitable deed.Bitcoin is a money making machine and one should take advantage from it.It is the topmost cryptocurrency too.

tunapa

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To me I dont think we should make any comparison of gold and bitcoin because they serve different purpose and have different purpose . but so far we have seen the power of bitcoin and knows what its capable. So in its own way, its a digital golden gem currency.

bapetdik

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Maybe bitcoin can be said like that. Bitcoin can be said to be digital gold because its value will increase in the future. And many people also invest in bitcoin. This is an advantage and will make the future of bitcoin feasible. So invest in bitcoin if you have more money.

krishnaverma

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Quote from: harobaru on August 26, 2018, 06:57:18 AM

it is comparision of bitcoin with digital number because its price increases like a digital number varying thats why called bitcoin is a digital gold.

I do not agree with this comparison because:

1) There is a lot of difference in the pace with which price of gold and bitcoin grows.

2) When we compare from security point of view, it is hard to keep gold safe from hackers or thief.

3) Even from ease of convenience, these two do not match.

Shreek

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IDENA.IO - Proof-Of-Person Blockchain

it's clear, that other Bitcoin and cryptocurrency are digital currencies and not digital gold
gold can only be obtained by mining on earth, with limited supplies and made by God
while Bitcoin can be obtained through mining using a computer device, but made by humans

billionaireSHS

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Decentralized Transportation Solution

As far as I know bitcoin is not a digital gold but it is a digital currency. Digital currency means that you can make a transaction using digital technology, for example as a payment of something you acquired, using bitcoin you can pay it through digital technology.

teamspike911

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In a sense, bitcoin really is digital gold. This can be understood from the fact that as an independent full-fledged crypto currency ... or simply the currency bitcoin did not take place. It is extremely inconvenient for them to pay for everything. Maybe in the future it will certainly change ... but now everything is so. However, you can invest in bitcoin to save them ... for a very long time. And not for a year ... what would I then shout about that I bought bitcoin for 20, and it costs 6

lamadu3

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Quote from: Ains_sama on August 24, 2018, 10:04:32 AM

I personally also think Bitcoin is gold, or digital assets. Basically, Bitcoin was created for a borderless transaction with a small fee and is very transparent. but now Bitcoin doesn't have that function. Bitcoin is better known as trading assets. and heaps on some people who hope to give more than the first value they have bitcoin. maybe a very stable crypto currency is USDT

In a way, yes, you can call BTC a digital gold. This precious metal also had the periods of ups and downs but it is one of the best investments like Bitcoin. Thus, I hold this crypto.

smile1218

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Quote from: Vickyrichy on August 06, 2018, 02:03:27 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.

Bitcoin is not a digital gold. But the price of bitcoin is remarkably higher compare to that of gold and helped more investors to earn a good income out of their bitcoin in investments.

senin

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Quote from: Vickyrichy on August 06, 2018, 02:03:27 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 absolutely agree with you. To be called digital gold bitcoin should be like gold, be stable in price. However, we see that bitcoin is too volatile. Of course, if someone likes to consider bitcoin digital gold, even after he fell sharply by 70 percent, then let him think it. To dream is not harmful. However, then you should always be prepared that in one day such digital gold can at any moment drop substantially in price. This contradicts the behavior of gold, which never so becomes cheaper.

carlou

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We cannot blame those people who believe that bitcoin is a digital gold because maybe that is what they knew from somebody or that is what they hear from the social media.

cryptomaster4

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Bitcoin is not digital gold.but it's a nice way to make money than from gold.from trading btc can make more profit.Im really don't like gold and I love bitcoin.

sandaru

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As all we know, bitcoin since the day the bitcoin is introduced al the course of the time it has become the major cryptocurrency in the world and eventhough its value is has been drastically dropped at the moment i think still bitcoin is the core of the crypto world. Though you are telling the bitcoin is not the gold in crypto world i would say that bitcoin is more than the gold in crypto world.

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