Topic: Will bitcoin replace gold? - page 107. (Read 15681 times)
I think this topic had been tossed up as well as criticized many times by the members whenever bitcoin was compared to gold. Bitcoin is something valued upon its usage in virtual world, but gold had been there since ages and IMHO, nothing could replace gold because it holds majority of support as it's something very special as well as precious as a metal being available in the market in less quantity just like bitcoins. Bitcoin can be considered a shadow of gold but can't replace it.
Never. They're very different anyway. People just say Bitcoin is digital gold because you mine it and it's a great storage of value. Gold, unlike Bitcoins, has inherent value. Gold has been here forever and it's going to stay that way.
Gold is the precious metal found in earth and the value of money is measure through to it, while BTC is a virtual currency you cannot touch it but it has a value and comparable to the value of gold. It’s up to the users in which he prepare, gold is a fix assets while BTC is a volatile assets. But very versatile you can carry it anywhere. 
This has been proven throughout the world and Bitcoin will definitely grow better than gold. I think Bitcoin is more practical and there are more investors looking to buy Bitcoin than gold, if you buy gold you are definitely going against the trend of the world.
but for people who prefer real value of real things, they will definitely choose gold, I think that people who hold bitcoin is just temporary, they at the end always exchange their bitcoin to fiat and probably buy gold afterwards, and the current trend of the world is still buying gold, you can see the market cap of gold and bitcoin is really different, gold significantly bigger. 
Bitcoin cannot easily replace Gold. Gold is the most precious metal and used by our ancestors long time ago. Gold can last for hundreds of years while bitcoin future is uncertain. We don't even know if bitcoin can still exist for hundreds of years. Also Gold is accepted globally and bitcoin is not. It's the secret of rich countries like US. They don't save money but they buy gold to preserve. Gold can influence the economy of a country. Gold value accumulates value over time. It's value doesn't drop. It can save a country because money are not safe from devaluation. So gold can save an economy.
Gold is a historical store of value. It's known and recognized around the world. That's why Gold cannot be easily replace by bitcoin
Gold is a historical store of value. It's known and recognized around the world. That's why Gold cannot be easily replace by bitcoin
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 am enthusiastic about Bitcoin, but I don't see it ever replacing gold. It doesn't have to replace gold to be exceptionally successful. 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.
Replace no, but continue to take market share - yes. BTC is still only like 1-2% of the market cap of gold I think
first bitcoin has to gain a much more stable price.
second it has to be adopted by a very large percentage of the world and be known by everyone.
finally gold has to become obsolete so that people want to look for an alternative!
(not necessarily in this order)
then bitcoin can become kind of a reference for measuring value.
second it has to be adopted by a very large percentage of the world and be known by everyone.
finally gold has to become obsolete so that people want to look for an alternative!
(not necessarily in this order)
then bitcoin can become kind of a reference for measuring value.
This has been proven throughout the world and Bitcoin will definitely grow better than gold. I think Bitcoin is more practical and there are more investors looking to buy Bitcoin than gold, if you buy gold you are definitely going against the trend of the world.
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.
we cannot deny that no one can replace the gold because in ancient history gold is using until now.the gold is the most useful metal in the world it is a memorable metal that occupies a serial place in the human mind too. gold can change you mind in instantly it may be do good or bad to you. gold will not used only for the trading but for making the jewelry for a thousand years. we cannot compare the bitcoin in gold because we know that bitcoin has no match for it . bitcoin is only for online currencies and stay on it. 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.
Never. They're very different anyway. People just say Bitcoin is digital gold because you mine it and it's a great storage of value. Gold, unlike Bitcoins, has inherent value. Gold has been here forever and it's going to stay that way.
Come on you can't compare btc to gold. Gold is a one of a kind object. Bitcoin is not that unique and hundreds of clones can be created. Its at the top spot because it was created first.
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.
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.
It won't replace gold, because gold is being used in the industry in electronic devices as an electricity carrier. Bitcoin doesn't have such usage. And they are not linked to each other, completely different things.
I don't think so
But there are some icos coming which are backed by gold
But there are some icos coming which are backed by gold
can you guys tell me,what is the reason behind this comparison ?
Bitcoin and Gold are a different assets,have a different goal and function.
it's totally different and yet you guys comparing it one and another ?
Gold is a precious metal,
and Bitcoin is a cryptocurrency.
based on that alone we should see the difference between one and another.
and why you're asking about will it replace gold or will it replace bitcoin ?
can you guys use Bitcoin as your jewelry ? of course you can not right ?
and can you guys use your gold to pay your bill oversea and use internet to do it ? you can not right ?
it's totally impossible for one of them replacing one another because they have their own function and their own use.
you can not compare it because of their 'colour' or because of their 'price'.
Bitcoin and Gold are a different assets,have a different goal and function.
it's totally different and yet you guys comparing it one and another ?
Gold is a precious metal,
and Bitcoin is a cryptocurrency.
based on that alone we should see the difference between one and another.
and why you're asking about will it replace gold or will it replace bitcoin ?
can you guys use Bitcoin as your jewelry ? of course you can not right ?
and can you guys use your gold to pay your bill oversea and use internet to do it ? you can not right ?
it's totally impossible for one of them replacing one another because they have their own function and their own use.
you can not compare it because of their 'colour' or because of their 'price'.
Short of asteroid mining becoming viable I think it's highly unlikely. Gold has been used as money for thousands of years, I doubt that it'll get replaced that easily.
Keep in mind while gold has a lot of usages, it's utility is not the main factor that drives its value. If governments and private entities wouldn't use gold as store of value, it's price would be nowhere close to current levels.
hold it right there...
Gold is not just some shit you extract from earth and trade it to just have value. it has a thousand and one different usages in a wide range of fields. from electronics to medical. and from big (macro) to small (nano) sizes of it is being used.
and the "value" comes from these plus scarcity of it.
Gold is not just some shit you extract from earth and trade it to just have value. it has a thousand and one different usages in a wide range of fields. from electronics to medical. and from big (macro) to small (nano) sizes of it is being used.
and the "value" comes from these plus scarcity of it.
Keep in mind while gold has a lot of usages, it's utility is not the main factor that drives its value. If governments and private entities wouldn't use gold as store of value, it's price would be nowhere close to current levels.
Bitcoin and Gold both have some specific features in terms of making profit. Gold has been considered the most popular saving tool among the people regardless of nation or community. but the time has been changed, day by day Bitcoin is taking the control over the business platform. people are becoming dependent on the Bitcoin system. so it will replace of the gold in the future.
It is impossible for bitcoin to replace gold and vice versa. I think it is naive to think that it would even happen. If you're only basis for bitcoin to replace gold is its value or price then you clearly have the wrong idea here. Both bitcoin and gold has their own perks which the other does not have and if you understand this then that alone is more than enough to justify that one will not replace the other.
Gold in general is no better. The value of gold is nothing more than a result of a global consensus
hold it right there...
Gold is not just some shit you extract from earth and trade it to just have value. it has a thousand and one different usages in a wide range of fields. from electronics to medical. and from big (macro) to small (nano) sizes of it is being used.
and the "value" comes from these plus scarcity of it.
I dont think so. In the end game Gold is still a precious metal and a beautiful thing in the eyes of a person. Bitcoin is a different story as it is a very good way to make transactions so as for the better currency the bitcoin would be best of two as for my opinion.
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.
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.
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