Topic: Is bitcoin digital gold? - page 8. (Read 1289 times)
depends on the way in which you use it, But still,gold has been used as a safer investment for centuries and it's free from high volatile nature which bitcoin lacks.
Of course, Bitcoin is Digital Gold. Because bitcoin's value is much more than Gold. Bitcoin has become very popular nowadays. Bitcoin has now become the most valuable resource for the people.
I think yes, btc is a digital gold equivalent, that's more popular and famous in this generation. Bitcoin is our gold because of it has price that even more than a gold
To some extent, yes, I can agree that bitcoin is really digital gold, because bitcoin is a leader in the digital market
BITCOIN Is a diamond in digital world 
Bitcoins is a digital gold because it possesses the characteristics of a traditional gold. As normal gold is an asset that increases or decreases in price base on world demand and supply. So is bitcoins. Bitcoins however fluctuate in price higher than gold. The risk /reward ratio of bitcoin is much higher too than bitcoin.
Yes, of course, Bitcoin is modern gold. Price of the bitcoin increase faster than gold but with fluctuations. very limited supply make bitcoin more valuable. Get some bitcoin and store it for future. It will the best investment for entire life.
Bitcoin will always rule all the altcoins because altcoins' exchange rate will always be related to bitcoin exchange rate.
Since most of the altcoins don't have really strong support on exchanges – by that I mean they cannot be traded directly to other altcoins – it is difficult to say that one altcoins will be powerful enough to displace the King of Crypto – Bitcoin.
I hope though, that bitcoin dominance will still decrease since more money will be distributed among new blockchain projects with their own cryptocurrencies listed on exchanges.
Since most of the altcoins don't have really strong support on exchanges – by that I mean they cannot be traded directly to other altcoins – it is difficult to say that one altcoins will be powerful enough to displace the King of Crypto – Bitcoin.
I hope though, that bitcoin dominance will still decrease since more money will be distributed among new blockchain projects with their own cryptocurrencies listed on exchanges.
I don't think, that bitcoin is digital gold, of course.
Gold - it is another piece, bitcoin is another piese of economic.
I prefer thinking, that bitcoin is like digital USD
Gold - it is another piece, bitcoin is another piese of economic.
I prefer thinking, that bitcoin is like digital USD
It looks like it is but people don't consider it that way because gold is different than bitcoin. Everyone knows what gold is and how to buy it but if you go and ask random people about bitcoin I doubt more than 5% will know what it is and how it works. This also depends on the regions and what age are the persons you are asking but I talk in general.
I think we can say that, bitcoin is a digital version of gold because the price of bitcoin that really expensive for each coin same like gold but if we compare it both gold and bitcoin, bitcoin is more riskier than gold because the price can easily pump and dumb but yes in my opinion bitcoin is digital gold.
Today bitcoins can buy anything you want. If you compare whether you can buy something for gold or diamonds, you will be faced with more obstacles, because it will simply be harder for you to do this. It can be concluded that gold and diamonds are very uninteresting because they are not accepted by stores. Therefore it is more flexible to have Bitcoin than to have gold and diamonds.
Yes, bitcoin is digital gold, the value of bitcoin is like gold, it is also popular and many investor keep it is as a treasure. Bitcoin is also use in daily needs.
Maybe, or I could say BTC is an instant gold, value basis. Basing upon the value of the two, they are comparable. But basing upon their description, they ain't the same.
It is digital asset, which differs from gold in my opinion, as it has different system, but both are assets for investment, which one you choose depends on the purpose you have.
Yes, for me it is now a digital gold. But its difference in gold is that its price is more higher than gold and also its price isn't stable.
And just like gold, it is good in terms of investments too especially in long term investment.
And just like gold, it is good in terms of investments too especially in long term investment.
Oviously, it is possible to call it digital gold based on the bitcoin's properties. Because it uses the same as gold, but in a little exception. It does not have any trouble to measure. Here a big difference from gold is not centralized. When we compare it to gold, it will be understood that it has many benefits than gold.
Yes, bitcoin can actually be liking to that of gold in this contemporary world
The billionaire venture capitalist is doubling down on BTC, likening the digital coin to gold’s online equal.
Thiel touts the No. 1 cryptocurrency for its size and its ability to compete with gold as a safe haven, saying at the Economic Club of New York:
“I would be long bitcoin, and neutral to skeptical of just about everything else at this point with a few possible exceptions. There will be one online equivalent to gold, and the one you’d bet on would be the biggest,” said Thiel.
But with the exception of a few digital coins, Thiel remains neutral on the rest of the cryptocurrency pack. He didn’t dismiss the possibility that bitcoin could be surpassed by Ethereum or other altcoins that prey on the leading cryptocurrency’s weaknesses, but bitcoin’s strength is in its size.
Bitcoin controls more than 40% of cryptocurrency market cap compared to almost one-fifth for Ethereum, as per Coin Market Cap data cited in CNBC.
For me i think bitcoin is not a digital gold. Because unlike gold, gold have it's stable value rather then bitcoin. I will accept bitcoin is digital gold if its price is stable already. But what ever we called bitcoin, bitcoin is always a bitcoin. Thiel touts the No. 1 cryptocurrency for its size and its ability to compete with gold as a safe haven, saying at the Economic Club of New York:
“I would be long bitcoin, and neutral to skeptical of just about everything else at this point with a few possible exceptions. There will be one online equivalent to gold, and the one you’d bet on would be the biggest,” said Thiel.
But with the exception of a few digital coins, Thiel remains neutral on the rest of the cryptocurrency pack. He didn’t dismiss the possibility that bitcoin could be surpassed by Ethereum or other altcoins that prey on the leading cryptocurrency’s weaknesses, but bitcoin’s strength is in its size.
Bitcoin controls more than 40% of cryptocurrency market cap compared to almost one-fifth for Ethereum, as per Coin Market Cap data cited in CNBC.
While many crypto investors have coined Bitcoin as the world’s “digital gold,” others are growing uncertain of Bitcoin’s value.
Howard Wang of New York-based Convoy Investments LLC and Jeremy Grantham of GMO LLC have analyzed Bitcoin’s advance relative to past frenzies and concluded that it’s unsustainable, which was noted in a recent Bloomberg article.
In a letter to investors sent out on January 3, Grantham summed up his concerns over Bitcoin saying, “Having no clear fundamental value and largely unregulated markets, coupled with a storyline conducive to delusions of grandeur, makes this more than anything we can find in the history books the very essence of a bubble.”
However, it is still too soon to tell if the “Bitcoin bubble” will indeed burst. What has become clear though, is that Bitcoin should not be considered a safe-haven asset.
I say this as I examine a chart complied by the data visualization site HowMuch, which displays an illustrative table of all the “horrific Bitcoin crashes” that have occurred since 2012.
Looking at this chart, it appears that Bitcoin lost 83% of its value in just three days between April 10, 2013 to April 21, 2013. Bitcoin’s next biggest crash occurred just recently, losing 70% of its value from December 2017 to February 6, 2018.
Now, compare this with the price of gold. According to data from the London Bullion Market Association, the price of gold appears fairly steady from day-to-day.
Considering this, Bitcoin investors and holders might find it interesting to know that major precious metal retailers have started accepting Bitcoin payments for gold, silver, platinum and other products from various mints. For example, APMEX Inc., one of the largest online retailers of precious metals, recently began accepting Bitcoin payments through the Bitcoin payment processor, BitPay.
Ken Lewis, CEO of APMEX, told me,
“As we are probably all aware, Bitcoin prices have surged in the last year, seeing an overall increase of nearly 1,200% in 2017. Investors started getting excited about Bitcoin and many casual traders even got involved with the cryptocurrency. Relative to Bitcoin, precious metals prices are far more stable, with Gold seeing just over a 12% increase in 2017 (Silver up roughly 5%). While people are obviously still highly interested in Bitcoin, many are turning to precious metals for a more, in a sense, secure investment.”
Howard Wang of New York-based Convoy Investments LLC and Jeremy Grantham of GMO LLC have analyzed Bitcoin’s advance relative to past frenzies and concluded that it’s unsustainable, which was noted in a recent Bloomberg article.
In a letter to investors sent out on January 3, Grantham summed up his concerns over Bitcoin saying, “Having no clear fundamental value and largely unregulated markets, coupled with a storyline conducive to delusions of grandeur, makes this more than anything we can find in the history books the very essence of a bubble.”
However, it is still too soon to tell if the “Bitcoin bubble” will indeed burst. What has become clear though, is that Bitcoin should not be considered a safe-haven asset.
I say this as I examine a chart complied by the data visualization site HowMuch, which displays an illustrative table of all the “horrific Bitcoin crashes” that have occurred since 2012.
Looking at this chart, it appears that Bitcoin lost 83% of its value in just three days between April 10, 2013 to April 21, 2013. Bitcoin’s next biggest crash occurred just recently, losing 70% of its value from December 2017 to February 6, 2018.
Now, compare this with the price of gold. According to data from the London Bullion Market Association, the price of gold appears fairly steady from day-to-day.
Considering this, Bitcoin investors and holders might find it interesting to know that major precious metal retailers have started accepting Bitcoin payments for gold, silver, platinum and other products from various mints. For example, APMEX Inc., one of the largest online retailers of precious metals, recently began accepting Bitcoin payments through the Bitcoin payment processor, BitPay.
Ken Lewis, CEO of APMEX, told me,
“As we are probably all aware, Bitcoin prices have surged in the last year, seeing an overall increase of nearly 1,200% in 2017. Investors started getting excited about Bitcoin and many casual traders even got involved with the cryptocurrency. Relative to Bitcoin, precious metals prices are far more stable, with Gold seeing just over a 12% increase in 2017 (Silver up roughly 5%). While people are obviously still highly interested in Bitcoin, many are turning to precious metals for a more, in a sense, secure investment.”
it's up to you to think like what is obvious difference of bitcoin with gold is very different.
which you should know gold is worth to invest but only in the long run.
while bitcoin price can not be predicted by anyone because its value depends on request.
and could have today increased its value by up to 10% each day.
Bitcoin is the number one currency in the crypto world and if we compare this with the gold then it can also be said that it is digital gold but if we say that it is currency it will be more clear and explained. Bitcoin is good to hold just like gold bitcoin is also valuable and the holding is also profitable while if we keep bitcoin it is expected that bitcoin will hit 20k soon.
Jump to: