Will bitcoin replace gold? - page 104.

zais

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Quote from: [email protected] on October 05, 2017, 08:08:14 AM

Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter.

Gold is a very strong brand. People who want to be respected tend to wear gold. Look at the US president. Over the centuries, gold means something fancy. Gold is valuable in every culture. Bitcoin, on the contrary, is a bad brand. A terrible brand actually. We do not know who founded it. Besides having a selling point, gold is also a tool for decoration, so it will never be replaced gold with anything

Thanasis

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No, i don't think bitcoin will replace gold.Because gold is an asset,it is a physical property.
But who knows no one can predict what is gonna happen.in my point of view i don't think it replace gold.

Chyton

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You are right, Bitcoin will eventually replace gold in someway. When people began to realize that Bitcoin is way better than gold in many terms such as it is disaster and war/conflict proofs, they will eventually abandon gold and move to Bitcoin. Bitcoin is like the digital version of gold and now we are in digital age, does that make sense to you? It is. Bitcoin will eventually become digital gold.

kiddeon123

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I don't think so, gold is a precious metal that can never be replaced by a codes and algorithms, maybe you can buy gold through bitcoin but replacing one is impossible.

BlackPanda

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Quote from: ufaiz50 on October 08, 2017, 06:20:51 AM

replace in what way? both are equally good to be invested in my opinion. gold in terms of value is small compared to bitcoin but in terms of gold risk has a lower risk level. I don't think there's anything to replace because there are own advantages and disadvantages in both.

yes each investment has its advantages and disadvantages. for those who like to take risks of course buying bitcoin is the right choice because with bitcoin we can get a huge profit. but for those who do not want a big risk then gold is the safest option, but the increase in gold prices is usually very small and not as bitcoin. so gold will not be able to make us get big profits in a short period of time. it all depends on the choice of each because the right selection is in accordance with the conditions that exist in us today.

AGD

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To me Bitcoin already replaced Gold a long time ago. Actually buying Gold with Bitcoins was my shittiest investement ever.

Restmand

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Quote from: [email protected] on October 05, 2017, 08:08:14 AM

Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter.

Is it hurts but we know that bitcoin can never replace the gold. Because we know that the gold is living a thousand years until now. It is used to buy everything , used for trading materials. And i think its have an expensive values unlike the bitcoin . bitcoin is living only in the online with the other cryptocurrencies. It is not used for all stores it is only used by some store and sometimes in the online and black market only. even though there's many advantage of bitcoin in the money chart. i don't think if it replace the gold.

teilwalL05

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Quote from: ufaiz50 on October 08, 2017, 06:20:51 AM

replace in what way? both are equally good to be invested in my opinion. gold in terms of value is small compared to bitcoin but in terms of gold risk has a lower risk level. I don't think there's anything to replace because there are own advantages and disadvantages in both.

Yup why would we replace one with the other if we can have both and I think it is up to a person to choose if what is the best one that he has his trust on and if what is the most compatible one for him, I mean you can sure take your cash and buy half of it with gold and buy the other with bitcoin and you can get a double win situation the only thing I think there would be a faster one to make an investment and there is no doubt that bitcoin can fluctuate anytime.

Barbut

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"Gold is soft and does not tarnish or corrode, it makes excellent jewelery, it is a good material for filling cavities in teeth, and it makes excellent fine wire for electronics. Gold is very reflective, so it is used to protect spacecraft and satellites from solar radiation." You can find this info about gold on many places, gold is used for many things. Before, I mean long before gold was used as currency but now gold is precious metal used for things I mentioned already and many more things. Bitcoin can be used as currency, bitcoin can be used as investment, gold was currency and now we can invest in gold, but except this two connections gold can be used for much more things, bitcoin can`t. Gold can be used in dentistry and medicine, electronics, jewelry, and more, bitcoin can be used for this things, how can bitcoin replace gold then? Can you put bitcoin in your teeth?

Elcapsono

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Quote from: ufaiz50 on October 08, 2017, 06:20:51 AM

replace in what way? both are equally good to be invested in my opinion. gold in terms of value is small compared to bitcoin but in terms of gold risk has a lower risk level. I don't think there's anything to replace because there are own advantages and disadvantages in both.

I also think that they are both good for investing. Between them, there simply can not be competition as bitcoin digital, and gold is in the physical world.

ufaiz50

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replace in what way? both are equally good to be invested in my opinion. gold in terms of value is small compared to bitcoin but in terms of gold risk has a lower risk level. I don't think there's anything to replace because there are own advantages and disadvantages in both.

capensis

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More and more people are investing in gold atm as another global financial crisis creeps upon us. Gold prices are on the rise to record highs.

BTC and altcoins have never seen a GFC before so there is no history as to how cryptocurrency may perform in a GFC . BTC and altcoin volatile prices are still below temporary record highs reached a couple of months ago.

Only time will tell if BTC or some other altcoin will replace gold as a store of wealth and/or payment system. Perhaps a decentralised blockchain based stable gold reserve backed cryptocurency may be the future....... crypto and gold combined would be more stable to use as a currency ?

Eugenar

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Quote from: [email protected] on October 05, 2017, 08:08:14 AM

Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter.

I don't think so. Gold is still known and is used for decades. Gold has a more stable market value compared to Bitcoin, knowing that it has a physical value and is used to different countries unlike Bitcoin. Bitcoin is not yet legal to some countries and also has a volatile market value that affects its effectivenesss as an investment or as an asset. Maybe in the future if it will be legal to most of the countries it will be able because the demand will be high that will make it more stable as it is being used on regular transactions. It has a chance to beat Gold as the best asset or investment but I doubt that it will replace it and will make Gold obsolete.

rockie2000

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There are different usage for both gold and bitcoin, for example gold can be made into jewelry, decoration... but bitcoin can be transferred anywhere much faster than gold. So I believe that they will co-exist for a long time to come.

mustakforum

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Quote from: [email protected] on October 05, 2017, 08:08:14 AM

Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter.

Bitcoin and gold are all well made for iventasi, gold in the offline world while bitcoin in the online world.

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Bitcoin and gold are two different valuable assets and both are having their own trading market, I don't see any reason in bitcoin replacing gold in the future because there are still investors who prefers in trading gold instead of bitcoin and vice-versa, there is also the group of investors who prefers to trade bitcoin instead of gold.

olubams

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Quote from: [email protected] on October 05, 2017, 08:08:14 AM

Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter.

Both Gold and bitcoin represent different purpose and they stand for separate things I don't see anyone replacing the other rather I see some complement. We tend to create issues for ourselves by believing everything is about competition but in most cases not that. The world financial system is large enough to accommodate the expansion of both bitcoin and gold with one not running into loss because of the other.

KenChanYu

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Quote from: yansen on October 08, 2017, 03:02:42 AM

If for gold, I think that's impossible. Since gold is tangible and used in jewelry, will bitcoin be used for jewelry? Bitcoin in technology. Works on a computer algorithm refining system, not an ornament. But when changing the payment system, I think it agrees. Because it is easier to use than money and credit cards.

yes i agree it is really hard b.because there are different.but in terms of value they are both valuable.the difference bitween the two is the price.gold is not really increasing in a short period of time .and it count a lot of years to increase while in bitcoin un expected you will buy today and earn in the next day.bitcoin is a good type of investment .while gold is not.gold is a valuable material it is a thing that can be touch it is not safe that we have gold at him it is a high risk in our life. In bitcoin even your close friend can never know that you gain if you dont speak to them.

yansen

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If for gold, I think that's impossible. Since gold is tangible and used in jewelry, will bitcoin be used for jewelry? Bitcoin in technology. Works on a computer algorithm refining system, not an ornament. But when changing the payment system, I think it agrees. Because it is easier to use than money and credit cards.

djgtr

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Quote from: logicgate on October 08, 2017, 02:34:46 AM

Quote from: darkangel11 on October 07, 2017, 01:03:12 PM

Quote from: Lamisa asfiya on October 07, 2017, 12:42:01 PM

gold is one kind of object.it is still precious metal.it is so beautiful. gold is accounted the most popular saving tool.besides, bitcoin is different. it is a good way to earn money. and i think, bitcoin will not be able to replace gold.

It's also a very good conductor, that's why we have gold plated connections in electronic equipment. Gold always fascinated people because it's shiny and there's not that much of it in circulation. Will it be replaced by BTC? In what terms? As a store of value? I think it won't because many people will like to be able to physically hold gold bars and coins.
You also won't be able to make jewelry or microprocessors from bitcoins, so gold will always have its use and its value.

Probably we are here talking about the replacement of gold by bitcoin in terms of currency and investment. We are predicting that gold may will be totally replaced by bitcoin in the market because bitcoin is giving better option of investment than gold and has already crossed the current value of gold. There are numerous reasons why gold as an investment is not equal to bitcoin.

yes i agree the gold is not an investment but it is a precious stone that has a huge value and it really need a decade to make its price high.that gold is really diferent from bitcoin .because in bitcoin you can invest it today and un expectedly tommorow the earning is already there because its price is changing time to time and i yhink that was the best way to invest our money.

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