Topic: Will bitcoin replace gold? - page 26. (Read 15699 times)
At a base level, gold is used beyond a mere currency or store of value. The whole reason it is valuable in the first place is because of its usefulness in the real world. A digital currency needs to prove it's real world use if it is to contend with gold.
well I hope so one day it will definitely replace gold or it will become valuable like gold which will have worldwide acceptance
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 can easily replace gold cause I think gold is still far away better than bitcoin. One of the reasons of why is because gold has a store of wealth, it has been existed and survived for a long time even during the financial crisis. Meanwhile when it comes to bitcoin, it's really hard to predict what will happen with it. It's price is really volatile that it can lose it's value in a short time. But who knows, bitcoin has been invented recently, maybe one day in can have a big potential but I still believe that bitcoin has still a long way to surpass gold. 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 will always be gold. I mean the value will continue to rise as time goes by. Bitcoin also has tendency to rise and can be much faster than gold. The drawback is that it's volatile. It may also lose it's value very fast. I think bitcoin can't replace gold because of this.
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 can not compare the two but I don't think bitcoin would replace gold that easy. Gold has earned its reputation for a long time but still bitcoin has all the potential of beating gold. Things are changing and bitcoin keeps on innovating everyday so we should expect that someday it would replace gold and dethrone it but for now, let us keep our hopes high for bitcoin. 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 and bitcoin are very different, each has its own advantages and disadvantages. but have the equation that has a valuable asset value. so for the replacement of gold to bitcoin can not
Bitcoin will change gold if many people in the world trust to btc. So we have to introduce btx to our friends family and other people who doesn't know btc
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 will never replace gold because there are some factors that they are different. Gold is also a good investment because it has proven that as the time pass by, its value will increase while bitcoin also has the potential to increase its value all of a sudden. However, bitcoin's investment is really risky because there is a chance that you will lose a huge amount of money once there is a sudden falling of price. It was happened last month of January which made some investors lose a trillion of dollars. Bitcoin cannot replace Gold.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 seems that this is still difficult to achieve, we all know that gold is a commodity # 1 with a marketcap of thousands of trillions of dollars, while bitcoin if measured with gold is not more than 1% marketcap gold, besides gold is accepted by everyone and all places.
Prospects bitcoin is much more than gold. People have long been looking for an alternative to gold, precious stones and money. And now the time when an interesting and safe product appeared in public, and most likely for the crypto currency future of the planet!
Gold will still maybe partially reigning the market along with crypto currency in the future as well. Because Gold will be still staying intact as a Jewelry material and as a investment method. Investment craze might get lowered, but I doubt the Jewelry demand will be there still in future.
Bitcoin will not replace gold in the context that trading using bitcoin is quite different to the market of gold. Value of gold is just dependent on the stock of it to the market where it would increased in time because of the sudden drop of the stock reserve of gold on the entire world. In contrary bitcoin is a well paced cryptocurrency which much more suitable in the concept of trading following the principle of law of price and demand.
Prospects bitcoin is much more than gold. People have long been looking for an alternative to gold, precious stones and money. And now the time when an interesting and safe product appeared in public, and most likely for the crypto currency future of the planet!
Gold will still maybe partially reigning the market along with crypto currency in the future as well. Because Gold will be still staying intact as a Jewelry material and as a investment method. Investment craze might get lowered, but I doubt the Jewelry demand will be there still in future.
Prospects bitcoin is much more than gold. People have long been looking for an alternative to gold, precious stones and money. And now the time when an interesting and safe product appeared in public, and most likely for the crypto currency future of the planet!
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 agree with you and think that it is question of time. Of course, gold is valuable as metal, but bitcoin is more valuable in terms of convenience, portability, storage. Here in my opinion there is only a question of safety. 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.
If we talk about regulation, then the differences are striking. Gold is traded in organized financial markets, and bitcoin is on decentralized exchanges, which may have noticeably different prices for the world's most popular virtual coin. Recently, the US Securities and Exchange Commission expressed concern about the Crypto-currency, and investors have no such problems in gold.
I do not think so. Bitcoin can not be a real application, because it is not a tangible asset. And, if you do not store bitcoin, its only purpose is to be a means of exchange when buying / selling goods and services.
Bitcoin is a gold standard and was always designed with this thought train in mind, check Satoshis notes for more info and linking with gold-markets.
never
why everybody is trying to compare bitcoin and gold, when we are not comparing gold with other assets, so we should not compare it with bitcoin. these to are totally different things.
The comparison between gold and Bitcoin is being done much these days. Actually, Bitcoin is being called "digital gold", because there really are some similarities. The main similarities are that the amount of both of them are finite, and no two people can own the same bar of gold, or the same Bitcoin, at the same time.
Would people who are investing in, and storing away gold, stop doing that and start investing their money into Bitcoin? Most probably not. People who've been investing in gold are not just going to now put all their money in Bitcoin. Unlike Bitcoin, gold has a proven track record (of thousands of years) and has industrial uses. So it isn't just valuable as a means of storing value and doing transactions.
i think gold and bitcoin are not comparable. because gold more likely to be anti inflation. while bitcoin is an investment that certainly provides benefits in terms value as well solution to usual financial transactions we do.
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