Will bitcoin replace gold? - page 105.

logicgate

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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.

Pab

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What bitcoin has to gold,history of gold like a symbol of wealt has thousends of years,mostly it is history of greedy and crimes.If to compare bitcoin to gold i can say bitcoin is only causing devs wars.Gold untill today is bloody,example is Sudan country with huge gold resources and one of the poorest country in the world

nidacoinlove

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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 too different things with no comparison I guess. We should not compare these because they no similarities at all. Gold is a valuable metal being used for ages while bitcoin is just a new technology. Bitcoin and gold has no single same feature then why to waste our time by this discussion.

senne

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Quote from: LodisMcguire on October 07, 2017, 03:22:53 PM

Well bitcoin and gold is different though,they are best in their way,bitcoin is best in digital asset and gold for the real asset
But if you ask for overall opinion,bitcoin can't never replace gold because of the different uses

But when the time arrives when gold losses it value, then what? I know the statistics say that Gold has been in the market for a long time and is used for trading since the human civilization but at the end everything has its life span. Gold has been ruling the market from a long time but now it’s time for someone better to replace it and Bitcoin could be the perfect nominee, being decentralized, limited in supply, easily accessible to everyone and much more makes it the next best investment in the market.

Blisk

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Quote from: LodisMcguire on October 07, 2017, 03:22:53 PM

Well bitcoin and gold is different though,they are best in their way,bitcoin is best in digital asset and gold for the real asset
But if you ask for overall opinion,bitcoin can't never replace gold because of the different uses

Yes bitcoin can never replace gold as bitcoin and gold are two different things and gold has no comparison with anything gold is like a permanent asset which has zero risk and less profit on the other hand bitcoin is bit volatile but has huge profit margin.

Andre_Goldman

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Property1of1OU

Bitcoin and Gold are finite ...

Quote

Q: Why is gold considered a finite resource?

A: Gold is considered a finite resource as there is only a set amount of if on Earth. Gold does not grow from plants, nor is it ‘created’ underground (the Earth's core isn't even remotely hot enough to make gold).

Gold is made in the collision of two neutron stars, it's considered very rare for a single neutron star to form - never mind the collision of two of them.

So it's fairly probable to say that, the percentage of gold in the Earth's crust will remain the same (except of course from mining) unless the Earth is impacted by a meteorite which has enough gold to change that percentage, which again is highly improbable.

https://www.quora.com/Why-is-gold-considered-a-finite-resource

Problem with gold... I guess .. it is difficult to count/fraud Grin

(Germany tests US stored Gold, says no Tungsten .. http://www.whiteoutpress.com/articles/2015/q1/germany-tests-us-stored-gold-says-no-tungsten/ )

Quote

On 15 August 1971, the United States unilaterally terminated convertibility of the US dollar to gold, effectively bringing the Bretton Woods system to an end and rendering the dollar a fiat currency.[4] This action, referred to as the Nixon shock, created the situation in which the US dollar became a reserve currency used by many states. At the same time, many fixed currencies (such as the pound sterling, for example) also became free-floating.

https://en.wikipedia.org/wiki/Bretton_Woods_system

nenuakak

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Quote from: LodisMcguire on October 07, 2017, 03:22:53 PM

Well bitcoin and gold is different though,they are best in their way,bitcoin is best in digital asset and gold for the real asset
But if you ask for overall opinion,bitcoin can't never replace gold because of the different uses

I agree with you that bitcoin can never replace gold. These are completely different assets. They are used differently. I know investors who trust only gold. But there are some who have completely gone into crypto. Each person chooses where to invest

LodisMcguire

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Well bitcoin and gold is different though,they are best in their way,bitcoin is best in digital asset and gold for the real asset
But if you ask for overall opinion,bitcoin can't never replace gold because of the different uses

jsscswan

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I think bitcoin is different types with gold, but still equally can be used as an investment. Indeed if the bitcoin investment, the more profits, but bitcoin can not replace the role of gold. As I've said, bitcoin and gold are of a different kind.

darkangel11

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Don't let others control your BTC -> self custody

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.

lalabotax

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I think there is no comparison between gold and bitcoin. because both run in their own way and contradict. so gold will remain a jewelery and investment in the real world. and bitcoin will remain in the digital world.

Lamisa asfiya

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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.

Wingo

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Gold cannot be compared to bitcoin. Gold's value and price is constantly increasing, bitcoin is volatile and the fact that it is not a physical money makes it no match to gold. Gold has a value at any place on earth, it is used way back in the early times of human time and until today. Bitcoin will die someday but gold will still live and its value will continue to increase.

PRIMEBOSS

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I think yes. Bitcoin is the current era most famous and widely used digital currency. It has made good image among the mind of all type of societies. Just like gold when it will universally acceptable then we will be able to say that it will replace gold but not for now.

Swopon

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Gamdom

I'm not sure but possibly bitcoin can replace gold.there is no one can predict the future all we can is imagine

doblok

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if talking about the price is gold is far behind with the price of bitcoin, but when talking gold is a lot of users, especially housewives but bitcoin no less interested in especially denagan prices today many people are starting to join to get more profit Grin

MoonHodler

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Bitcoin: 1HrWs3tDzWr13zocV3qP9ENRLgiDuewtsu

Gold has been on earth for a long time, if future generations believe that technology will last forever, then maybe future folks would see gold and crypto alike, based on their interpretation of the historical use of crypto . As for now, I think most people in hard times trust the creator of gold more than the creator of bitcoin & fiat lol

alva5763

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Gold has traditionally been a safe investment in financial crisis. Many will still trust gold due to its past and bitcoin is new and cannot be physically held. The quantity of bitcoin is finite and known while total deposits of gold is uncertain. Gold will still be used as an investment.

fossilized

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Gold has very high historical value due to its lustre and attraction as a precious metal, as well as its historical use as a store of value in mayn different cultures. And as you would know, human habits and cultures are hard to change. Both bitcoin and gold can be considered equally scarce and difficult to transacton, however gold has an advantage of being so established and the institutional backing behind gold trade though many different exchanges.

It will take a long time for bitcoin to catch up.

Denies

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probably not, because both have loyal fans. maybe a lot of people who involve both want gold or bitcoin.
bitcoin has a pictorial symbol of gold. and gold is a symbol of glory for a man who has a luxurious life.

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