Topic: Will bitcoin replace gold? - page 20. (Read 15661 times)
Cryptocurrencies are no substitute for gold. Each of the two has their own capacity and usage and I think we cannot compare it. As gold is less volatile and has more liquid market.
Gold is being used for more than 5,000 years now, and it is quite impossible to imagine about a scenario in which it becomes worthless. Billions of people use gold as a store value of asset. No amount of government action or market manipulation can make it worthless.
The answer is no and bitcoin will not replace gold as gold is different from bitcoin. However bitcoin and gold are both good for investment. But in investment I prefer Bitcoin than gold since bitcoin investment involve short term investment that will cater only up to one year unlike gold that it needs more than 1 year to get a good profit. And also there are ICO project which is back up by gold and these ICO project also promoting BTC indirectly since investing in ICO require you to buy BTC or after the investment in that ICO you will trade the coin to other coin or to bitcoin directly. All faucets of the ICO is the bitcoin and that matters most when it comes to investment. So I prefer bitcoin than Gold. And again gold will not replace bitcoin.
Bitcoin required at least one wallet to collect them and now days online hacking are increasing. Wallets can be hacked easily. There's no point to replace bitcoin with gold or gold with bitcoins.
There's no way to compere bitcoin with gold. Since both have different nature and different principle. Bitcoin is Internet's currency and not exist physically while gold have a beautiful nature and exist in physically. We can touch it feel it and save them in our home.
Bitcoin is a new cryptocurrency has just been existed recently, it just a new digital money and can not represent an economy of a country. however, gold has been existed for a very longtime and used to trade for manythings so it has been a great symbol to represent a power of country and become a symbol of entire economy. So gold has more value than bitcoin, bitcoin will never or take a very hard and long time to replace bitcoin.
I think that will not happen. Gold has existed for a long time and new bitcoin appeared in 2009. bitcoin is a virtual currency and value always change. There are many countries that do not accept bitcoin. So bitcoin will not replace gold.
I think it won't. Because bitcoin price is always not stable unlike gold.
Bitcoin has good chances to replace gold, and the main obstacle in the way of crypto currency in this case will be its virtual nature.
As it's start for bitcoins, yes bitcoins will replace gold to some extent. Those who were investing in gold now they will start investing in bitcoins because it is quite similar with gold as both faces up's and downs in the price but in case of bitcoins there is huge profit.
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 bitcoin will replace gold. Bitcoin cannot be compared to gold. They are different things. Bitcoin is a cryptocurrency. Gold is a precious metal. They have different USES. 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 will not be easy for Bitcoin to replace an asset which has been in existence for more then 5,000 years. IMO, Bitcoin and god may co-exist for sometime. In due course of time, Bitcoin will be replaced by some other technology, but gold will be there for the long-term future.
I think gold is much better than bitcoin. It is more reliable and tested for years. Moreover, all countries recognize it. Unlike bitcoin.
Yes, gold is more recognized than Bitcoin; it is known for a long period of time compared to Bitcoin; it is also allowed to use worldwide. Thus, I dont think Bitcoin can replace gold. 
Bitcoin can't replace gold as they are both different from each other. They serve different purposes. They can co-exist and that's likely for more than a thousand years. Come on, gold is used everywhere. It cannot be replaced.
No it won't. But I believe it will become a store of value by it's own right and merit, more and more people are starting to realize this and the fact that it has a limited supply will just help in making it a good store of value
Yes it will. maybe it will replace in demand. Soon bitcoin will need more source. Because the supply of bitcoin is limited so soon if all people will be interested in bitcoin it will have less supply to other people. so thanks to altcoins . There are so many altcoins now and still counting. Many people will have more choices to invest with or what coins to trade, there are many coins have potential so you may try them all.
Yes. In the long run. Digital assets will, anyway.
The price of gold is driven by the demand for use in industry and in jewelry. The rest is store of value owing to historical adaptation. Many people and institutions don't hold the actual gold they own (i.e. as in have it in a vault they can go and see) but own a piece of paper (or digital record) proving ownership. It is no different than a dollar bill (or Bitcoin) in that sense.
Over time, gold will cease to be the hard asset of choice for storing value as people become more and more immersed in the emerging digital world. This is already happening. I don't know if Bitcoin per se will replace gold, but I am very confident that you will see a steady decline in the demand for gold as an asset as the digital economy of cryptocurrencies emerges.
The price of gold is driven by the demand for use in industry and in jewelry. The rest is store of value owing to historical adaptation. Many people and institutions don't hold the actual gold they own (i.e. as in have it in a vault they can go and see) but own a piece of paper (or digital record) proving ownership. It is no different than a dollar bill (or Bitcoin) in that sense.
Over time, gold will cease to be the hard asset of choice for storing value as people become more and more immersed in the emerging digital world. This is already happening. I don't know if Bitcoin per se will replace gold, but I am very confident that you will see a steady decline in the demand for gold as an asset as the digital economy of cryptocurrencies emerges.
And why should bitcoin replace gold? I do not see any point in this. Bitcoin must exist separately from and in parallel with gold. Bitcoin and gold are like two sides of one coin. However, there is practically nothing in common with them except that they perform the function of storing value. However, these are completely different assets. Bitcoin, even in principle, can not claim to replace them with gold. Gold has always been an indispensable source of value.
I think gold is much better than bitcoin. It is more reliable and tested for years. Moreover, all countries recognize it. Unlike bitcoin.
Why is that? Do not you think that the recognition by the states of the currency will improve them? On the contrary, I think that this will have a negative impact.This is a very important factor. It is necessary to recognize the currency by the state and banks. Without this, I think no currency will live long
But not recognition by existing banks, will create new ones. There is no problem in this. So taxes are frightening
I think gold is much better than bitcoin. It is more reliable and tested for years. Moreover, all countries recognize it. Unlike bitcoin.
Why is that? Do not you think that the recognition by the states of the currency will improve them? On the contrary, I think that this will have a negative impact.This is a very important factor. It is necessary to recognize the currency by the state and banks. Without this, I think no currency will live long
But not recognition by existing banks, will create new ones. There is no problem in this. So taxes are frightening
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