Topic: Is Bitcoin a Digital Gold?? - page 49. (Read 6311 times)
Well, the main idea and motive was to make it a safer way of making electronic transactions but we the adopters made an add-on onto the technology by taking it to a whole new level and making it a digital asset. This doesn't kill the dream of making Bitcoin a safer means of making transactions. There are companies and stores accepting BTC as a form of payment.
I think bitcoin could be a digital gold. Although i know the perspective you are coming from but also remember that real gold is not digital but bitcoin is, so within the "Cryptotic" world bitcoin could be digital gold.
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.
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.
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