Like it or not Bitcoin is Gold 2.0 - page 2.

hatshepsut93

legendary

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Quote from: PrymeTyme on September 29, 2017, 02:02:36 PM

well

if you thought BTC will end up beeing the one world currency.. you might be wrong...

bitcoin started the whole new craze of digital computerized value exchance..

but the real value is the gate to new technology bitcoin opened.. and that is where most of the money is flowing..

This not true, in fact the value of altcoins is heavily correlated with the value of Bitcoin and most of the altcoin volumes are in fact crypto volumes. So, fiat money is flowing mostly on BTC narket which makes BTC the most important cryptocurrency of all - whatever happens to it will translate into all other coins.

Quote from: PrymeTyme on September 29, 2017, 02:02:36 PM

ethereum and its tokens, iota, etc..

the technology behind all this new tech. is interresting.. and bitcoin will hold its place as a storage of secure wealth..

while other technololgies will be used as transacting value/service/goods etc..

so hodl your btc but be prepared for exchanging other tokens....

Altcoins are highly experimental, their use cases are ridiculously small and they are still being tested. A lot of them are just promises of the future as they are still in development phase. It may seem that Bitcoin is stagnant, but this is because Bitcoin developers hold stability as their primary value and any updates go live only after long testing periods - and this is why Bitcoin works so great, there are no critical bugs, no exploits and we don't have any emergency hard forks like many altcoins do.

geyayy

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I really don't think that bitcoin can be the world currency, and that the world will have one currency. Comparing bitcoin and gold is not appropriate. We cannot just compare these two things because they are not the same. In terms of the physicallity, bitcoin cannot be seen nor touched. Gold has history while bitcoin dont.

|Bitkoin|

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That's right, like it or not Bitcoin is Gold 2.0 but even better. Gold can actually be melted out and changed by having other metals put in it, thus messing with it's value. With Bitcoin you know there is 21 million and that'll never change.

matuson

sr. member

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Gold has a physical form and is a proven investment over many millennia. Bitcoin has no such history of credit. That alone does not give the right to compare these assets. Now do investments in bitcoin bring more income but no one knows how long it will last.

joseafonso123az

sr. member

Activity: 476

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I believe BTC being in a middle term between a currency and gold. You can compare them from both of the sides but still don't know where it belongs exactly. I believe that after all the coins are mined, thus more stability for BTC, we will get to know if it looks like a new currency fr the world, or like a stash of gold that you hold, and sell if you need some money!

davis196

hero member

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Merit: 929

I guess this is topic number 1000 about comparing bitcoin and gold.
Anyway,your title is wrong.I would say that "blockchain technology is gold 2.0" bitcoin would be nothing without
the blockchain.Nowadays,technology is gold,whoever owns the technology has the power to change the economy and even the human civilization.

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

like it or not bitcoin is NOT gold 2.0

obviously bitcoin will never become the world currency that everyone and every country adopts and uses. but that doesn't mean bitcoin is not a global currency which will become so popular someday that everywhere you look you can see it being accepted just like credit cards.

it doesn't have to replace them to become as big as them.

and no matter how much some people try to convince others that bitcoin is only store of value, it will never be that. and if someday it becomes store of value and loses the currency aspect, bitcoin would be as good as dead that day.

iram1011

hero member

Activity: 896

Merit: 521

I still believe Bitcoin and Gold are quite different from each other. Where gold has intrinsic value and use as metal. Bitcoin doesn't has any intrinsic value and its price is highly dependent on demand. No demand is equal to no value whereas gold will still have value. Bitcoin's price driving factor is demand and speculation highly as there is not much utility. Whereas price driving factor for gold are many like worldwide jewelry and industrial demand, central bank reserves etc along with demand. Also, gold supply isn't limited, but Bitcoin's is.

Hydrogen

legendary

Activity: 2562

Merit: 1441

There are many comparisons made between bitcoin and gold.

Another comparison people might want to look into is stone money.

People in some societies carve huge stone coins out of rock to represent their own brand of fiat. The immense quantity of work this process entails is similar to crypto mining processes which can be energy intensive.

The supply of rock coins being limited in terms of production provides a similar function to the number of crypto coins produced being limited by code.

There might definitely be some parallels there.

PrymeTyme

full member

Activity: 183

Merit: 101

well

if you thought BTC will end up beeing the one world currency.. you might be wrong...

bitcoin started the whole new craze of digital computerized value exchance..

but the real value is the gate to new technology bitcoin opened.. and that is where most of the money is flowing..

ethereum and its tokens, iota, etc..

the technology behind all this new tech. is interresting.. and bitcoin will hold its place as a storage of secure wealth..

while other technololgies will be used as transacting value/service/goods etc..

so hodl your btc but be prepared for exchanging other tokens....

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