Topic: Will bitcoin replace gold? - page 30. (Read 15681 times)
the problem with consensus is that it won't happen. You have many generations and different value systems. We have to get the government on our side to make mass adoption and currency adoption happen
To me i don't bitcoin will replace gold because the two are very different gold is a very precious mental in the sight of people while bitcoin is totally different from gold its use for transaction of currency so gold remains gold and btc remains BTC.
Yes, bitcoin will replace gold in our society maybe in sooner or later. Since they are slowly dominating in the world and received lots of recognitions and achievements,
there is no doubt about their skills and capabilities to achieve something more in future.
there is no doubt about their skills and capabilities to achieve something more in future.
Nope, never
Why would bitcoin replace gold? Gold is a safe haven, which means it remains stable despite unstability in economic, political, etc. Crypto will crash just because of bad news LOL
Crypto is an investment to me, not a safe haven definitely
i think not really, as long as bitcoins price volatility remains, it wont be any better than gold.
No. They have their own characteristics and personalities. They have their own pros and cons. But they both are good investments but Bitcoin have great potentials and these potentials aren't harnessed thoroughly so you should hop on and take risks.
Yeah gold is more and more stable than BITCOIN but doesn’t have as much profit potential as cryptocurrency
Of course not, they can not replaced each other but you can buy gold with bitcoin and vice versa but not replaced, since gold is a mineral and tangible product which you can used with accessories but you can't do that with BTC itself, but you can purchase accessories which is made from gold using bitcoin.
Bitcoin and Gold are currencies, in essence itssomething that is used as money, which can be spent or saved .. As such, the idea of one replacing the other becomes difficult, as it boils down to the parties involved to choose the the currency they would Lyk to run their transaction in... All currencies are relevant and each will apply to a particular part of society
Good opinion, bitcoin users are optimistic that the financial future of the world is bitcoin so that when compared with gold they say that bitcoin is better than gold and I agree with this 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.
For me it is a no, because there is so many different things of bitcoin to gold. We all know that bitcoin is a digital currency that you can't hold or touch it. While gold is a money that is in the real world where we are, it means that you can touch, smell or use it. But if ever that bitcoin will become a real world money, maybe it can be replace gold.
Bitcoin is 200 billion dollars but whereas Gold is 8 Trillion dollars so bitcoin is long way for gold to conquer in the gold market
Since the collapse of Bretton Woods in the 70s of the 20th century, gold has appreciated an average of 10% annually, with a relatively low volatility in the last four decades. For its part, bitcoin, the most popular cryptocurrency, has experienced rapid growth in recent years, with an increase of 13 times in 2017 alone. However, its volatility is also greater: 10 times the price of gold in dollars . This volatility has caused, for example, that the price of bitcoin has suffered a drop of more than 40% since the middle of last December. On average, bitcoin moves 5% daily, which is good for investors looking for a high yield, but it can hardly be a characteristic of a currency and, much less, of a deposit of value, so the bitcoin it can not be considered a means of transaction.
I do not think so, gold has been characterized as an asset available for many years within the market, its value does not usually decrease on a large scale and its investors are usually the same group of people (they receive few new investors, according to statistics). a market already pre-established and it is very difficult to replace it. Gold has a very diverse demand. An important part comes from the jewelery sector, which has represented between 50 and 60% of the annual demand during the last 20 years. On the other hand, bitcoin is more used as a means of income and electronic payments
Yes, bitcoin will replace gold in our society maybe in sooner or later. Since they are slowly dominating in the world and received lots of recognitions and achievements,
there is no doubt about their skills and capabilities to achieve something more in future.
there is no doubt about their skills and capabilities to achieve something more in future.
Bitcoin and Gold are currencies, in essence itssomething that is used as money, which can be spent or saved .. As such, the idea of one replacing the other becomes difficult, as it boils down to the parties involved to choose the the currency they would Lyk to run their transaction in... All currencies are relevant and each will apply to a particular part of society
I think question is little bit old you can ask that type of question before 3 to 4 years but now it is little bit odd. Bitcoin has already replaced gold. Bitcoin has a huge chance of profit rather then Gold. Bitcoins hold a great market capacity and holds a great revenue. Gold is somehow stable on a certain rate but bitcoin has the ability to make you rich.
The ongoing debate in the financial community is whether bitcoin (or other cryptos) will replace gold. But, one analyst is convinced this will “never” happen.
“It seems that more and more people justify investing in cryptocurrencies — even at current record prices — by claiming that they’re an effective hedge against the instability of fiat currencies,” wrote Olivier Garret, CEO of Mauldin Economics, in a Forbes post Thursday.
But it is hard assets like gold that are the “real stores of value” and safety against currency depreciation while cryptocurrencies fall short, argued Garret.
“Despite what the crypto-evangelists will tell you, digital tokens will never and can never replace gold as your financial hedge.”
“It seems that more and more people justify investing in cryptocurrencies — even at current record prices — by claiming that they’re an effective hedge against the instability of fiat currencies,” wrote Olivier Garret, CEO of Mauldin Economics, in a Forbes post Thursday.
But it is hard assets like gold that are the “real stores of value” and safety against currency depreciation while cryptocurrencies fall short, argued Garret.
“Despite what the crypto-evangelists will tell you, digital tokens will never and can never replace gold as your financial hedge.”
In some far far future it might be bigger than gold but for that it first needs to overcome some issues like the blocksizes,fees and confirmation times.
I think Gold never replaced by BTC because their application is diffrent
Perhaps the bitcoin is now more expensive, but I find it inappropriate to compare it with gold. Gold will always be a precious metal.
Maybe it will because bitcoin is known for its safety so maybe people will go investing in bitcoin rather than in gold. Bitcoin is an experimental currency that allowed people to anonymously move money around the internet while gold has some inherent value. Even though most of its value is symbolic, the precious, non-corrosive metal can still be used to make jewelry, conduct electricity or cap teeth. The traditional trend is that investors turn to gold during economic slumps. However, with Bitcoin becoming increasing popular many economists are starting to believe that the cryptocurrency could replace gold as a safe haven.
You are saying it based on the price of bitcoin but what if it goes down below 1k usd this month? will this idea of yours will be the same? i don't think so, i think a lot of people already left investing on gold because if you just study different industries there's a lot of good opportunities we could invest and i think bitcoin is a lot better than gold when it comes to profit we could possibly get between these two.
It could replace gold in few years. It takes time to get more stable because at this point gold is stable not 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.
Bitcoin could not replace gold. Gold is rock form and mold by hundred years. It is used in making jewelry and other fancy items. While bitcoin is a virtual money that can only be seen through your virtual wallet.Meaning you could not hold it. But when you compare their value when converted to fiat money, bitcoin has higher price that is why it is always compared to 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.
Jump to: