Topic: Is Bitcoin digital gold or digital cash? (Read 12062 times)
Bitcoin can be called digital gold, because it really has great value for us as a technology.
It depends on how everyone as an individual makes use of Bitcoin. I personally see and use it more as something that can be seen as Gold. I am not really interested in using my coins for spending purposes. I use it as a store of value, where my main motive is to keep a large portion of my wealth outside the banking and governmental system. At the same time, the volatile nature of Bitcoin lends itself perfectly for investment/trading purposes, which is also what I am using Bitcoin for. For me the right term is indeed digital Gold.
Most users will say they think it's digital gold. But for me it is digital cash because money is a kind of payment and bitcoin should be a currency that's why it is existing. It aims to be a currency not to be a gold.
Bitcoin is a digital currency, infact, it is a virtual currency. It is the currency of the future and most importantly it is open and dynamic. Whether you think bitcoin is digital gold or digital cash, one important fact is that bitcoin's future looks very bright.
I think the purpose of bitcoin is created as a currency, where Bitcoin has more advantages than conventional currency, so I prefer to call bitcoin as digital cash rather than digital gold, although bitcoin can also be used as investment field like gold.
The bridge from gold to cash
Satoshi was right in my opinion: Bitcoin can be both a secure store of value, as well as a liquid medium of exchange used for small size payments. The solution is to accept and embrace an ecosystem with division of labor, where each sector prioritizes a different part of the solution.
In the case of Bitcoin, you can let one part of the ecosystem prioritize security, while the other focuses on convenience and speed. I’ll let
Hal Finney, the first ever person to receive a Bitcoin transaction.
Satoshi was right in my opinion: Bitcoin can be both a secure store of value, as well as a liquid medium of exchange used for small size payments. The solution is to accept and embrace an ecosystem with division of labor, where each sector prioritizes a different part of the solution.
In the case of Bitcoin, you can let one part of the ecosystem prioritize security, while the other focuses on convenience and speed. I’ll let
Hal Finney, the first ever person to receive a Bitcoin transaction.
Bitcoin is a complete payment system, this is how it was made and what it was intended to be, The fact it serves as a store of value with volatility and the ability to earn profit trading and hedging it is an additional aspect that does not change it's intentional purpose of a cross-border payment system with no restrictions and central authority.
We should treat bitcoin as it is, serving its purpose should be the first and foremost, bitcoin was intended to change how the payment transaction shouldbe, if this new system will be able to penetrate and be a part of major transactions then more people will be aware that it s really a good alternatives to
the common service that we are using right now, as also, being an asset is just an options for those who believes that the value will grown much stronger.
In my opinion Bitcoin is and will be both: digital gold and digital cash.
bitcoin is not a gold but it is real digital cash
well,We can say it can be both thing when it comes to bitcoins.Bitcoins has the price high like gold but not totally leveled with gold itself.It had characteristic of cadh which can be use in different payment method so for me i consider it as gold online and casg online Wink Wink Wink
The beauty of bitcoins is that it can act as both those forms.
I think Bitcoin got the Gold Tag because It is something that you can preserve
That is if you believer in it. It acts as a market stablizer for the entire market.
so even if there are better more technology wise advance coins than bitcoins.
Bitcoin still remains the best because It is like Gold. It is also the Bridge between Fiat and other cryptos
And even if all the world leaders got together to make something better, people will still only trust Bitcoin more
so it has become something like gold even though It is suppose to be used as money so its really both
I think Bitcoin got the Gold Tag because It is something that you can preserve
That is if you believer in it. It acts as a market stablizer for the entire market.
so even if there are better more technology wise advance coins than bitcoins.
Bitcoin still remains the best because It is like Gold. It is also the Bridge between Fiat and other cryptos
And even if all the world leaders got together to make something better, people will still only trust Bitcoin more
so it has become something like gold even though It is suppose to be used as money so its really both
Well i dont think bitcoin is either of this .because 90% of the people use bitcoins for earning ,that is sell the bitcoins when the price is high.Bitcoins being used for groceries is not being widely used,if used in this manner will change the face of the earth in many ways.
Bitcoins are considered as valuable assets such as gold. The bitcoin algorithm can be considered digital gold because it carries the same characteristics as gold, silver, precious metals. However, gold has long been considered a safe haven for the entire length of civilization. It has been used by all cultures, of all ages, for value and has never fallen to zero in history. The value of bitcoin can go down.
I think bitcoing can be called digital money or digital assets. Because bitcoin has a good investment value and a fairly high price. Why call digital money because bitcoin can be used to buy something.
Bitcoin is digital cash, but his potencial is very above then the gold, soo some people does use bitcoin to store value against their fiat currency, as well used for saving purposes as well investment at the same time. For me bitcoin is the digital gold, with amazing potencial to grow.
Bitcoin is a digital cash or digital money that we can use or transact to any crypto investments. We can also use for payments to some other entities.
in my opinion, with a fairly high price like today, bitcoin may be more in value as digital gold in comparison with cash. In addition, the benefits of bitcoin are also used as an investment, just like gold.
proponents of bitcoin as "digital cash" place more emphasis on the accessibility aspect ,arguing that its transaction fees should be low, Whereas proponents of bitcoin as "digital gold"are more focused on its security, arguing that this should not be compromised by efforts to lower cost.
in my opinion bitcoin is .and will be both: digital gold and digital cash
in my opinion bitcoin is .and will be both: digital gold and digital cash
Bitcoin is a digital cash or digital money that we can use or transact to any crypto investments. We can also use for payments to some other entities.
I think it's both.because you can easily invest as much as you can and earn profits. A digital gold although it doesn’t have the actual form , it is still precious as gold. You can still sell it more than the value of gold. You can still use bitcoin as cash in any payments of buying things or paying hotel accommodations or even in food chain like in kfc.
In many countries it’s much easier to get cash for btc than cash for gold. But Bitcoin is not as liquid as it could be. In 5-10 years Bitcoin’s market will be comparable with gold. But today Bitcoin’s market is still limited.
Digital settlement and reserve currency.
Payment system. Yes. Store of value. Sure. It can and has many functions.
Payment system. Yes. Store of value. Sure. It can and has many functions.
It can be both since it in the end its value and function is based on its users though right now it is more of an investment because of its market value it is still a currency, its volatility just makes it hard to use as a currency now.
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