Topic: Is Bitcoin digital gold or digital cash? - page 2. (Read 12062 times)
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.
Answers to this question are constantly posted on this forum and on Reddit by people who are not software engineers/developers, nor product managers. Either that or they are truly terrible at their jobs. Reddit in particular has really turned into a garbage dump, but that's something for another discussion.
Anyway, in a business context you want to build software that meets your customer's expectations, so understanding how a user makes use of your software solution is really important for smooth communication and shared understanding between management, marketing and engineering. Normally you want to write out really detailed user stories/journeys, maybe even draw diagrams or create mock-ups that demonstrate the exact problem you're trying to solve and how your thing will solve it.
Here's a teaser:
Alice is at a farmer's market and wants to buy broccoli from a vendor. How does she pay?
Here are just a few important details that we need to know first:
- What country is Alice in, and what are the economic conditions?
- How much money does she make every year/how well off is she?
- How technologically sophisticated is she/how old is she?
- What tastes and preferences does Alice have/what prejudices her in certain ways?
We need a lot more information before we start talking about what BIP we can code up in a day. If you think about these questions only from your own perspective and experience, you're discounting the majority of people on this planet that want to use the same technology. Bitcoin's value depends mainly on how many people can safely use it, and if it's not in use by the largest number of people possible, it will not achieve it's full potential/value.
The correct answer to the question in this poll is "it depends". Bitcoin is for humans, and humans have different needs. Most likely every redditor and bitcoin.org poster's favorite potential use case, "in-person payments at high volume merchants", will not be satisfied by Bitcoin directly. Use something else for that one narrow use case if Bitcoin isn't doing it for you, and support the engineers who are working to make Bitcoin more secure and stable, goddamnit
Anyway, in a business context you want to build software that meets your customer's expectations, so understanding how a user makes use of your software solution is really important for smooth communication and shared understanding between management, marketing and engineering. Normally you want to write out really detailed user stories/journeys, maybe even draw diagrams or create mock-ups that demonstrate the exact problem you're trying to solve and how your thing will solve it.
Here's a teaser:
Alice is at a farmer's market and wants to buy broccoli from a vendor. How does she pay?
Here are just a few important details that we need to know first:
- What country is Alice in, and what are the economic conditions?
- How much money does she make every year/how well off is she?
- How technologically sophisticated is she/how old is she?
- What tastes and preferences does Alice have/what prejudices her in certain ways?
We need a lot more information before we start talking about what BIP we can code up in a day. If you think about these questions only from your own perspective and experience, you're discounting the majority of people on this planet that want to use the same technology. Bitcoin's value depends mainly on how many people can safely use it, and if it's not in use by the largest number of people possible, it will not achieve it's full potential/value.
The correct answer to the question in this poll is "it depends". Bitcoin is for humans, and humans have different needs. Most likely every redditor and bitcoin.org poster's favorite potential use case, "in-person payments at high volume merchants", will not be satisfied by Bitcoin directly. Use something else for that one narrow use case if Bitcoin isn't doing it for you, and support the engineers who are working to make Bitcoin more secure and stable, goddamnit
I believe so, that bitcoin is a digital gold and a digital cash as well. 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.
Bitcoin is a crypto-currency that can help you to get your freedom back from dirty central banking business and any government that plots to track your every movement and control you, It's more like a currency.
Bitcoin is the currency of the future, very open and dynamic, the transaction is very simple and fast. So this is the future currency, because we see everything clearly.
I do not think that there is any currency now compared to bitkoynom.
I do not think that there is any currency now compared to bitkoynom.
It is an value storage token that has got the similarities of digital gold. One thing that makes it better than the digital gold or digital cash is it's evolution within the system or technology unlike the commodity value. The value has now getting closer to gold and soon it would cross it growing big.
Yes it will go on that predictions but if that the case, it can be exchange digital gold in goods? I think it can’t be because gold are seen only in real and can only get through mining. By the use of technologies nothing is impossible to be made but in digital gold, it can’t be used in the market.if I think, bitcoin can be both, can be made storage of asset value and also as payment system. because the first time bitcoins are created, bitcoin is used to make payments easier, but the growing technology and price, many people use bitcoins for storage of asset values.
different from gold, the price is difficult to ride, and difficult to be used as a means of payment.
cash is just same as gold, it has a physical form. i think bitcoin is more like a digital currency like USD, but formless.
bitcoin cannot compare with gold because the price is far from stable unlike gold.
bitcoin cannot compare with gold because the price is far from stable unlike gold.
If you look at it bitcoin can be a digital gold for the purpose of investments in the digital world, while in the other hand bitcoin can also be considered as digital cash because bitcoin can also be use as mode of payment and exchange , this is how important bitcoin in thexdigital world.
In reality bitcoin is Digital Cash but it is rarely used as a cash. It is used as a investment opportunity and since people use gold also as an investment, we can relate to it as digital gold or digital investment. All in all, i think it is better than both cash and gold and has much better features.
In my opinion, Bitcoin is or will be digital gold and digital cash.
Satoshi Nakamoto referred bitcoin as "electronic cash" in the Bitcoin white paper, and later referred to Bitcoin as the proposal of Wei Dai B-Money (an anonymous distributed electronic cash system) and Nick. Implementation of the Nick Szabo BitGold proposal. In emails and forum posts, Satoshi Nakamoto compared bitcoin with gold and gold mining in six different situations.
Bitcoin can be used both as a secure value store and as a transaction medium for small payments. This solution is to accept and advocate an ecosystem with a division of labor. Each part of the system can arrange the various parts of the solution in the order of priority.
The question of whether Bitcoin is digital cash or digital gold is a false one: Bitcoin can be a form of currency that is safe and accessible. Through modularization, the Bitcoin main chain will be the most secure settlement layer, while the second-tier payment channel will be used as a channel for fast, highly liquid transactions.
Satoshi Nakamoto referred bitcoin as "electronic cash" in the Bitcoin white paper, and later referred to Bitcoin as the proposal of Wei Dai B-Money (an anonymous distributed electronic cash system) and Nick. Implementation of the Nick Szabo BitGold proposal. In emails and forum posts, Satoshi Nakamoto compared bitcoin with gold and gold mining in six different situations.
Bitcoin can be used both as a secure value store and as a transaction medium for small payments. This solution is to accept and advocate an ecosystem with a division of labor. Each part of the system can arrange the various parts of the solution in the order of priority.
The question of whether Bitcoin is digital cash or digital gold is a false one: Bitcoin can be a form of currency that is safe and accessible. Through modularization, the Bitcoin main chain will be the most secure settlement layer, while the second-tier payment channel will be used as a channel for fast, highly liquid transactions.
if digital gold, the BTC price should be more stable than the USD or EUR currency
but most people consider BTC as a savings for the future
but most people consider BTC as a savings for the future
I think that bitcoin is so much closer to digital gold! Because bitcoin is not used as a means of payment, bitcoin is used as a means of storing and accumulating valuables, like gold!
Bitcoin cash infrastructure and support have increased again this week as the firm Bitpay has added more BCH features to its merchant services solution.
Answers to this question are constantly posted on this forum and on Reddit by people who are not software engineers/developers, nor product managers. Either that or they are truly terrible at their jobs. Reddit in particular has really turned into a garbage dump, but that's something for another discussion.
Anyway, in a business context you want to build software that meets your customer's expectations, so understanding how a user makes use of your software solution is really important for smooth communication and shared understanding between management, marketing and engineering. Normally you want to write out really detailed user stories/journeys, maybe even draw diagrams or create mock-ups that demonstrate the exact problem you're trying to solve and how your thing will solve it.
Here's a teaser:
Alice is at a farmer's market and wants to buy broccoli from a vendor. How does she pay?
Here are just a few important details that we need to know first:
- What country is Alice in, and what are the economic conditions?
- How much money does she make every year/how well off is she?
- How technologically sophisticated is she/how old is she?
- What tastes and preferences does Alice have/what prejudices her in certain ways?
We need a lot more information before we start talking about what BIP we can code up in a day. If you think about these questions only from your own perspective and experience, you're discounting the majority of people on this planet that want to use the same technology. Bitcoin's value depends mainly on how many people can safely use it, and if it's not in use by the largest number of people possible, it will not achieve it's full potential/value.
The correct answer to the question in this poll is "it depends". Bitcoin is for humans, and humans have different needs. Most likely every redditor and bitcoin.org poster's favorite potential use case, "in-person payments at high volume merchants", will not be satisfied by Bitcoin directly. Use something else for that one narrow use case if Bitcoin isn't doing it for you, and support the engineers who are working to make Bitcoin more secure and stable, goddamnit
Actually all of this its depend on the person in how he would define bitcoins in his own thought,but in my own knowledge i define bitcoin as a digital cash or currency because there is no gold involve her,only a big figures of numbers,thats sometimes we called a digital system that evolve around in the blockchain market. Anyway, in a business context you want to build software that meets your customer's expectations, so understanding how a user makes use of your software solution is really important for smooth communication and shared understanding between management, marketing and engineering. Normally you want to write out really detailed user stories/journeys, maybe even draw diagrams or create mock-ups that demonstrate the exact problem you're trying to solve and how your thing will solve it.
Here's a teaser:
Alice is at a farmer's market and wants to buy broccoli from a vendor. How does she pay?
Here are just a few important details that we need to know first:
- What country is Alice in, and what are the economic conditions?
- How much money does she make every year/how well off is she?
- How technologically sophisticated is she/how old is she?
- What tastes and preferences does Alice have/what prejudices her in certain ways?
We need a lot more information before we start talking about what BIP we can code up in a day. If you think about these questions only from your own perspective and experience, you're discounting the majority of people on this planet that want to use the same technology. Bitcoin's value depends mainly on how many people can safely use it, and if it's not in use by the largest number of people possible, it will not achieve it's full potential/value.
The correct answer to the question in this poll is "it depends". Bitcoin is for humans, and humans have different needs. Most likely every redditor and bitcoin.org poster's favorite potential use case, "in-person payments at high volume merchants", will not be satisfied by Bitcoin directly. Use something else for that one narrow use case if Bitcoin isn't doing it for you, and support the engineers who are working to make Bitcoin more secure and stable, goddamnit
Some people say that it is digital gold because it increases in value and also it can be mined. But it is not. Bitcoin is a technology that you can store your money and may use it for payment. But it is way better than Gold. Actually, at this moment, the value of Bitcoin is three times more than a value of Gold.
Without value there is nothing, Bitcoin is digital cash, but once I see it rising above $100,001+ it'll turn into gold?
For me bitcoin is digital gold than digital cash because on my place there are not many stores accept bitcoin for payment method, bitcoin be used for make investments into altcoins but i hope in the future bitcoin become digital cash on my place although it will takes much time.
It is an value storage token that has got the similarities of digital gold. One thing that makes it better than the digital gold or digital cash is it's evolution within the system or technology unlike the commodity value. The value has now getting closer to gold and soon it would cross it growing big.
Yes it will go on that predictions but if that the case, it can be exchange digital gold in goods? I think it can’t be because gold are seen only in real and can only get through mining. By the use of technologies nothing is impossible to be made but in digital gold, it can’t be used in the market.
For me i think bitcoin is a digital cash, because lots of bitcoin fanatics use this to earn money,and to gain more profit. I can say bitcoin is not a digital gold because unlike gold bitcoin have not a stable value rather than gold. If bitcoin have a stable value maybe thats the time i called it digital gold. For now now may prefer to called it bitcoin is a digital cash.
I see bitcoin as both digital gold and cash. Bitcoin ultimately increase in value and will be used to exchange for goods and services. The more Bitcoin achieve wider adoption the better for its usage and value.
it depends how people use it and where they are really live (which country). because in the some country, bitcoin and other kind cryptocurrency is illegal for Payment system. bitcoin is also less precise if called digital gold, because gold can be regarded as objects that have a prestige value to show to others. it goes against the bitcoin that we can not even see it. after considering from the function and location of my stay. bitcoin is more worth mentioning as a digital investment asset
I agreed. Depending on Bitcoin in each country. At this time, many countries consider Bitcoin to be digital gold, so it is very valuable. Bitcoin is not allowed to exchange, use as currency. But there is still a country like Bitcoin as a social evil, so it is nothing. But in many countries, Bitcoin is a technical currency, digital gold is trusted by the people.
Bitcoin is both a digital currency used to pay bills and valuable assets such as digital gold used in hoarding and exchange.
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