Topic: Why do many people call Bitcoin "digital gold"? - page 2. (Read 1291 times)
When it comes to gold, it represents expensive scarcity and wealth if someone owns gold. "expensive as gold", "precious as gold", that's what people keep saying. People call bitcoin digital gold because it simply has many similarities like very precious and rare. Even in terms of technology bitcoin is superior to gold in every way. Bitcoin can be used as a payment method, is an investment tool and also a safer store of assets than gold because it is anonymous.
According to statistics, the total market value of global gold currently exceeds 8 trillion U.S. dollars. If the market value of Bitcoin exceeds 8 trillion U.S. dollars, the value of a single Bitcoin will exceed 400,000 U.S. dollars. This is just a judgment on Bitcoin's value as a "digital gold".
Why do many people call Bitcoin "digital gold"?
Why do many people call Bitcoin "digital gold"?
I'm sure some people refer to bitcoin as digital gold, because they don't analyze it as far as you do, they only look at the basic physical aspects of bitcoin like limited supply and to own it we also have to do mining, if we look at it from this physical only, it's not wrong if they analogize bitcoin as gold in digital form, and some people also claim that bitcoin is better than gold.
Yes, in my opinion, Bitcoin not only has similar characteristics to gold, but also has many advantages that gold does not. This is why I think that Bitcoin will replace gold and become the real world currency.
In the future world currency system, we will build around Bitcoin. The most important role that Bitcoin will play in the future is not to pay, but to store value. Humans store wealth and value in Bitcoin.
Bitcoin has all the same characteristics as gold. The number of Bitcoins is limited (only a certain amount will be produced), Bitcoins can be broken down into smaller units without losing the value of those units (1 Bitcoin = 100,000,000 Satoshi - the smallest unit of Bitcoin, just like cents in Dollars or pennies in Pounds, so we can buy less than one Bitcoin), Bitcoin technology is also stable and will not degrade, nor is it possible to create fake Bitcoins. Also, unlike gold, you can move Bitcoins anywhere in the world in a matter of minutes, regardless of the amount of Bitcoins. That's why people call Bitcoin digital gold, but better digital gold.
I think many people call bitcoin digital gold because the nominal bitcoin is so large and its appearance is similar to gold but in digital form. Bitcoin can also be used as an investment like gold maybe things like that are generally the reason some people call bitcoin digital gold. Actually both bitcoin and gold complement each other. Bitcoin has its own advantages in one of its fields compared to gold and vice versa.
we might say that bitcoin is almost like gold whose price tends to fluctuate.and storage is almost like gold that's why bitcoin is called digital gold. as we see today how bitcoin performs both in the storage process and at the time of release that we want to sell on the global stock market, maybe that is why bitcoin is said to be digital gold,
- Storage is not exactly the same, sometimes I feel that the name seems to be the manipulation of a genius brain, although the odds of determining the similarity between bitcoin and gold are very low but quite a few people have removed and cut the important points, combined the both and created a special relationship. Bitcoin fluctuations are a disrespect for theories and separations between technical and predictive while gold respects those laws due to its links to the economy and government. Because people think Bitcoin can be a digital store of asset. Gold as physical store of asset. When they believe like that, it means they believe in the intrinsic value of Bitcoin.
Their belief can be right and is based by valuable reasons or can be wrong and is not based on anything.
If you see good reasons from their belief, Bitcoin has good future. I share on informative article to you. They bullish case for Bitcoin
I think when the end of total mining in the 2041 year or other any year this time will justify our goal and demand of bitcoin. Now we cant imagine the mattar already 80% mining is complete. All of the Big investors involving with bitcoin so think this time when every transaction will complete by BTC. For that reason everyone telling it digital gold and I agree with this. Their belief can be right and is based by valuable reasons or can be wrong and is not based on anything.
If you see good reasons from their belief, Bitcoin has good future. I share on informative article to you. They bullish case for Bitcoin
Gold was one of the first valuable things that people could use for exchanges and payments. It also was the first tool of investments. Bitcoin is also a beginner of the crypto industry. The majority of people consider gold to be the best investment, as well as Bitcoin is thought to be the most reliable investment. Also we had to mine gold using our energy, and in terms of bitcoin, we also mine it to have more. Moreover, both of these assets are limited, so there are a lot of similarities.
The strength of a cryptocurrency is in its underlying technology, so the reason people refer to it as "digital gold" is to draw parallels between the two. Bitcoin is similar to gold because it is a scarce, valuable asset that cannot be copied, counterfeited, or destroyed. And like gold, it is a decentralized asset that can be moved without any middlemen or intermediaries.
Both are financial assets whose value is based on a scarcity of product, unlike conventional fiat currency.
Both are financial assets whose value is based on a scarcity of product, unlike conventional fiat currency.
The most important thing behind the gold we know as a valuable asset is its price. Naturally, the price is much higher that is why people save it as an asset to them. They can use it by selling it for any special need if they want. According to this concern bitcoin is one another gold or more then it. It is easy to save and sell. Moreover, financial problems can be solved faster then gold.
Bitcoin is certainly a lot better than gold, I never seen a place where they accept gold for the payments of their services or goods, we only can use it as a store of value whereas bitcoin is different which can be used for the transactions with complete convenience and also it is accepted by some major companies and will be accepted by a lot in the near future.
People compare Bitcoin with Gold because Bitcoin highlighted now like gold. Gold price always up and down like bitcoin . We are know that gold is valuable asset thing and golds price much higher. Now bitcoin is highest valuable coin in crypto market. So people called Bitcoin is digital gold bcoz Bitcoin play a role like gold in history.
The most important thing behind the gold we know as a valuable asset is its price. Naturally, the price is much higher that is why people save it as an asset to them. They can use it by selling it for any special need if they want. According to this concern bitcoin is one another gold or more then it. It is easy to save and sell. Moreover, financial problems can be solved faster then gold.
If we will going to look back the history of money or currency we can found out that it really evolved. What I mean have you remember that our ancestors treat their live stocks as their wealth then as long as the quality of life of people changing and also the way they purchase products and services then here it comes the gold then after that we have the fiat or paper currency then we have now bitcoin. Bitcoin is now being called as the digital gold because of it's undeniable value that really amazing.
The most important thing behind the gold we know as a valuable asset is its price. Naturally, the price is much higher that is why people save it as an asset to them. They can use it by selling it for any special need if they want. According to this concern bitcoin is one another gold or more then it. It is easy to save and sell. Moreover, financial problems can be solved faster then gold.
I think bitcoin is very appropriate to say digital gold because bitcoin is invested in the long term and bitcoin is getting more and more interested in the same as in the real world there are many people who want to invest in gold and of course gold is very much interested in it so bitcoin in the digital world and gold in the real world .
I think most people call bitcoin as digital gold because bitcoin itself has such a large nominal and can be used as an investment, not only that the appearance and design of bitcoin itself also looks like a golden color that is so luxurious this is of course synonymous with gold. but the difference is that bitcoin is a digital currency while gold does exist in real form so maybe this is why some people call it digital gold
Bitcoin is an asset like gold. Gold price always up down . Bitcoin price also updown always but bitcoin has reached at the peak as like gold price. And in future is all about bitcoin. As big big personalities are also showing their interest in btc. So I can say bitcoin is an asset like gold and it is called digital gold
No, not in the future it's going to be only with bitcoin. It's going to be with every asset and investment that revolutionized the traditional assets and that's why and how it will take over those type of assets. As for the people, we tend to call whatever we seem to be familiar with it and the comparison that it has.In my opinion, in the future, Bitcoin is the foundation of other assets and will serve as a reserve asset. In the future, the issuance of some digital currencies or the issuance of legal tenders may anchor Bitcoin. Bitcoin will play a role similar to gold in history.
Bitcoin is an asset like gold. Gold price always up down . Bitcoin price also updown always but bitcoin has reached at the peak as like gold price. And in future is all about bitcoin. As big big personalities are also showing their interest in btc. So I can say bitcoin is an asset like gold and it is called digital gold
In few terms you are right but still, crypto users can't trust BTC completely and they are well aware of the risk. BTC got popularity when it first pumped and the price reached $20k but now it's been recognized as GOLD in digital currency.
Bitcoin is an asset like gold. Gold price always up down . Bitcoin price also updown always but bitcoin has reached at the peak as like gold price. And in future is all about bitcoin. As big big personalities are also showing their interest in btc. So I can say bitcoin is an asset like gold and it is called digital gold
No, not in the future it's going to be only with bitcoin. It's going to be with every asset and investment that revolutionized the traditional assets and that's why and how it will take over those type of assets. As for the people, we tend to call whatever we seem to be familiar with it and the comparison that it has. 
Right now gold is the accepted collateral from banks and financial services apart from bonds and stocks. Earlier investment on gold is a tedious job, now everything has turned digital. Most people prefer gold over bitcoin for different purposes. Based on the growth bitcoin has experienced in a short time period people started to make it as digital gold in conversation even though there is separate digital gold for investment.
agree, gold is indeed an investment, which has been around for a long time. so it is natural to receive special treatment if for collateral at the bank it is certainly acceptable, even in other places there are those who accommodate it because it is clear that making sales is also easier if it has to be conventionally or digitally. but after bitcoin began to appear we can not close our eyes that, bitcoin is very coveted. bitcoin is better and very profitable for long-term investments than gold, even though both are equally profitable.
Because Bitcoin is scarce, mining deflates over time, is perfectly secure, and stored on computer space. Bitcoin is providing great payment applications, companies all over the world choose Bitcoin as a reserve asset instead of FIAT. With that comes regulatory corridors in countries that are being built for Bitcoin and cryptocurrencies. Those are the points that make Bitcoin legit and increase in value over time the way gold did.
As the world's first cryptocurrency, Bitcoin is hard-coded with digital scarcity, and its supply is limited to 21 million, which makes this asset similar to precious metals such as gold.
Although other cryptocurrencies have adopted the same method, they cannot attract the public and reach its height (whether in price or influence) like Bitcoin.
The title of the Bitcoin white paper clearly refers to the concept of a "peer-to-peer electronic cash system". Obviously, Satoshi Nakamoto created Bitcoin as a means of payment.
In short, adoption is the key.
Although other cryptocurrencies have adopted the same method, they cannot attract the public and reach its height (whether in price or influence) like Bitcoin.
The title of the Bitcoin white paper clearly refers to the concept of a "peer-to-peer electronic cash system". Obviously, Satoshi Nakamoto created Bitcoin as a means of payment.
In short, adoption is the key.
Jump to: