Topic: Will bitcoin replace gold? - page 4. (Read 15681 times)

I don't think bitcoin will replace gold.  Gold to many people are a physical precious metal that you can hold, melt, and make things out of the metal.  Bitcoin is a technology that uses a blockchain and uses miners to record transactions.  I think one or the other will not replace each other but they can both exist at the same time.

There are some clear similarities between the two asset classes, limited supply, storage of wealth, etc. In gold's case, its industrial uses in electronics don't justify its price, so it seems many people come to conclusion that its value largely comes from its capabilities in storing value due to its capped supply, just like bitcoin. However, I think a huge factor that gives gold value, that people seem to brush off, is its visual display of wealth. People do buy gold to store their wealth, but many people also buy gold to make into jewelry and other forms to "show off" their wealth. I believe that this may be a core reason of why gold is valuable, and its capabilities to be a store of wealth are a result  of this.

You have two types of consumers competing for gold's limited supply:
 1. People who want gold to show others that they can afford it.
 2. And then those who buy gold as a store of value.

 I think this is something that bitcoin has going against it; you can't have a bitcoin-plated necklace or a mansion made out of bitcoin bricks. What bitcoin does have is incredible liquidity as a transfer of value (well... except for its fees), it is very censorship resistant, decentralization, etc. As a advocate for cryptocurrency, I do think that these traits give it value, but I am concerned in the long run whether this "visual display of wealth" factor that precious metals have are actually a very large portion of what maintains their value.

No. the gold is a different market and so does the bitcoin. the bitcoin can also serve as a digital store of value just like gold even better but the gold market is very strong to be taken away by bitcoin for now. to some people, bitcoin is the new gold 2.0 and to some, the bitcoin is nothing but a joke.

i think bitcoin cant replace a gold,why? because the gold have many used of it can be a jewelry or something expensive if you were trying to say that the bitcoin replace gold its means gold have no value at all? is a big no

I do not agree with you because you cannot compare gold that is something in real life with bitcoin that is actually internet money i believe they both could be not compared at all.

Could be, because btc the longer its price continues to increase, while the price of gold msih spelled stagnant, even if there is no significant price increase like BTC

we can not deny that nothing can replace gold because in ancient history gold uses up to now. gold is the most useful metal in the world it is a memorable metal that occupies the place of the series in the human mind as well. gold can change your mind in an instant may be good or bad for you. gold will not be used just for trading but to make jewelry and I think bitcoin is better than gold and maybe bitcoin can replace gold in the future

Gold is difficult to store, spend ,keep safe, I believe that bitcoin will be able to prove its reliability and become a safe asset . All cryptocurrencies are quoted in bitcoin and evaluated in relation to it. I think all the same Bitcoin can replace gold if not to replace but to rise at the same level.

Hhiii

Bitcoin is good source of investment.  It can give very high returns.  Gold is also a good source to invest.  The basic difference is volatility of prices.  Gold prices are more stable in comparison to bitcoin.  There may be very much volatility up and down in bitcoin resulting very high loss too but in gold chances of very high gains or loss are low.  So invest prudently.

Replacing gold may be a little bit impossible, gold is a raw material that undergo extraction and need to refined.

I think that these two differ from one another. They are different types of assets. Gold is more stable, but cannot bring profit, it is the way to same money. And as to bitcoin it is modern type of asset, and it contains more risk, but at the same time it can bring much more profit.

Gold and BTC is different assets. Gold is really used in jewelry and industry while BTC can't be applied there. Yeah, both of them are used as "value measure" at fiat and criptocurrency markets but it can't be replaced each other

I don't think so bitcoin can replace gold.Is Bitcoin more Valuable than Gold?
For me both their have values ​​and advantages itself

Gold is gold and bitcoin is bitcoin,gold has several uses,apart from the fact that it can be exchanged for fiat or bitcoin itself,lets be real,i believe in bitcoin so much that  I know one day, it will be like gold,accepted world wide,.. They both have there roles..

No, dont think so.
Both are unique and has its own respective value and usage.
It is impossible for bitcoin to replace gold and vice versa.

There is no way Bitcoin will replace physical Gold. It would mean gold would be worthless, and if Gold becomes worthless and BTC is based off of it, or called "virtual gold", I am pretty sure this will have a negative effect on it.

I think, bitcoin can not replace gold because gold and bitcoin are different investments and have different markets, for some people still consider gold better than bitcoin and more believe in gold, so gold still has become a better investment for some people who does not know about bitcoin

The question for the ages...will Bitcoin replace Gold?

Gold has been around for thousands of years and used as a currency thru the centuries.

Not only is it used as a currency it also is used in jewelry and since it does not corrode and conducts electricity so well, it is also used in many high end electronic circuit boards.

With Bitcoin its a bit different. Bitcoin is the digital gold. Bitcoin is a currency that in my opinion is so much better than gold

Much easier to hodl onto to...to transport...to trade..is fungible...etc etc.

Will bitcoin ever replace gold? No...but it will be a better version of gold that will be an alternate way for storage of wealth for many now and in the future.

Why does Bitcoin replace gold? I think gold should co-exist with Bitcoin. Bitcoin cash and any other cryptocurrency will not replace physical gold: because they are interchangeable and can replace other currencies in weeks or months, it cannot be considered Is a millennium reliable store store (because gold proves to be)