for me bitcoin is digital gold, because I don't use it as a cash yet, but I use it as an asset...
Topic: Is Bitcoin digital gold or digital cash? - page 9. (Read 12062 times)
Bitcoin is a digital cash and it can be used easily as a crypto currency. I guess these crypto currency will be too my popular after a certain time when cyper security issues will be taken care off.
Bitcoin is both digital Gold as well as digital Cash. It posses qualities of both currencies. Gold is used as an asset or mode of investment from centuries. Gold is widely accepted irrespective of national boundaries. Bitcoin works on the same platform, it has wide acceptance, and if you see its price graph it is a successful asset. Cash is a world currency; almost every country has its own fiat cash. Bitcoins can be used as a currency in day to day transactions but it requires basic infrastructure like mobile, internet etc. That is why it more popular as an asset rather than currency.
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
I think this is a digital gold because the value is high and still increasing like gold because cash is not increasing sometimes its increaaing but it is to low compared to bitcoin so for me bitcoin is a digital gold. 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
Where bitcoin is really powerful it is far closer to gold. but i think it is digital equivalent to gold.
It seems it wasn't that long ago that it was trumpeted as both gold and digital cash. With the scaling debate and fee increases though the digital cash angle has taken a backseat to the digital gold narrative
During the upcoming November fork, it is assumed that bitcoin spontaneously splits into two parts: one bitcoin will have more function as a means of payment, and another - a function of storing values. Then, let's see which of them will be responsible for what and what will be. Now bitcoin is on the way to big changes.
Bitcoin is created as a digital cash and offers solutions that fiats cannot offer. Since then it was surprising that the value of bitcoin is in an unprecedented rise that its price even surpassed the value of gold. Many big time investors are now keeping bitcoin as it is like gold.
Without a level of utility value, bitcoin cannot be a store of value
bitcoin would behave closer to digital gold than digital fiat, given that bitcoin and actual gold share a lot of the same qualities. limited supply, deflationary because of this. fairly liquid in most markets. and if you use small enough transactions, it can even be anon. fiats have an unlimited supply but are supposedly good as the government that is issuing it.
the main difference between gold and bitcoin comes back into play here, the fact that bitcoin is not physical and has no utility outside of a way to pay people. in this way it actual resembles digital cash the most; it is more accepted online (the most likely use of digital payment mediums) than gold (you basically have to convert it).
the main difference between gold and bitcoin comes back into play here, the fact that bitcoin is not physical and has no utility outside of a way to pay people. in this way it actual resembles digital cash the most; it is more accepted online (the most likely use of digital payment mediums) than gold (you basically have to convert it).
Bitcoin is both a digital gold and a digital cash. Well, not really cash, but a currency. We usually refer to cash if there is an object used as an instrument to represent the value of something such as fiat. It is a digital gold because it can be stored and left for a year or two to have its price increased several times. It can be a digital currency because it can be used as a form of payment.
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In my opinion. Bitcoin is neither digital gold nor digital cash because bitcoin is digital diamond and is the strongest digital payment system with the longest shelf life online digital asset because bitcoin is platinum.
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 costs.
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 both digital currency and asset. Bitcoin was originally created as a digital currency that is fast, secure, and decentralized. Bitcoin is peer to peer electronic currency that can be use globally without borders, boundaries or regulations whatsoever. Bitcoin is better than traditional fiat because it's digital, fast, secure, cheaper transaction fees and acceptable worldwide. With bitcoin, sky is only a starting point.
By my opinion, bitcoin is and will remain both, namely, digital gold and digital money. Bitcoins vision came from the cyberpunks movement, which for two decades stood behind the development of digital money, also called digital gold. These two concepts are much more similar than may appear at first glance.
Bitcoin can be both digital gold and digital cash. You can save it long term like Gold or you can spend it like cash, but spending it is not recommended right now because if you buy and hold it that will gain in value over the years.
You don't even have to wait for years any more per the recent rates of increases in its value. I also think it's both a gold and a cash depending on how you relate or apply it in your life. I certainly treat my bitcoins as my investment and then I spend some online like cash on some important apps and softwares.
To my understanding it is more of a digital currency because that was the original arm of creating bitcoin. But later due to high demand for bitcoin its value skyrockets and made those earlier investors to have made a lot of money which has made many people to believe that bitcoin serve as a store of value, though I don't blame them on their conclusion.
Bitcoin can be both digital gold and digital cash. You can save it long term like Gold or you can spend it like cash, but spending it is not recommended right now because if you buy and hold it that will gain in value over the years.
Bitcoin is a digital cash, because i know many of my friends that are working now with some companys and they pay them so good this is why i'm here and i will try my best to work and get money
BitCoin is a valuable investment tool. the most important promises the future. there is a side that sees the oppressive sides of the system and nobody can stop it. countries have to keep up with it. it is now more valuable than gold. digital gold can be tried. The golden laying chicken can also be tried.
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