Will bitcoin replace gold? - page 45.

sharted

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Quote from: philadey30 on January 14, 2018, 02:55:42 PM

Looking at it, gold and bitcoin are both valuable and can be used for exchange, but not all people are in to bitcoin also not everybody possess gold, each has its own fans, so i dont think bitcoin can replace gold.

Actually bitcoin is greater than a gold. In gold the profit of dollars is greater than a Silver, so choose the bitcoin to inverse your money. Now the price of bitcoin will reduce to low value ,use them buy a bitcoin. Surely you get profit from bitcoin investment .Bitcoin is great to inverse your money.

philadey30

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Looking at it, gold and bitcoin are both valuable and can be used for exchange, but not all people are in to bitcoin also not everybody possess gold, each has its own fans, so i dont think bitcoin can replace gold.

Qpeeps

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You are forgetting to consider that gold has a consensus which has been validated in thousands of years, Bitcoin's consensus is too young to offer any certainty that it will last...

zlt220

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They are different things entirely, gold is natural and its is so valuable, it has an enticing colour which draw humans more close to it. Bitcoin can never replace gold.

jazpreti

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Gold is gold. Bitcoin is bitcoin. Gold is still a high value for money as well as bitcoin. Gold is a precious stone while bitcoin is a precious currency. Both can convert to money. Bitcoin is no match with gold when it comes to the profts but only few people in the work can have it. While bitcoin is for everybody. Lot of people can have bitcoin and earn money from it. Bitcoin is achievable for anyone but gold is not. So bitcoin is still the best to make people rich.

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Quote from: freakingcat on January 14, 2018, 02:11:09 PM

How can it? Gold is real. Bitcoin in virtual.

Even though it is virtual, bitcoin is far more valuable than gold and since they are both investment assets, I can say that on that regard Bitcoin has overtaken Gold.

freakingcat

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How can it? Gold is real. Bitcoin in virtual.

gopaljiverma

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If you see from returns point of view, it has replaced gold very behind. You can exchange it for a lot of services and goods as well.

hnsq1

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Bitcoin and gold are simply not comparable. Gold has been treasured by humans since the beginning of recorded history.

That will simply never change unless and until gold somehow becomes valueless. And since the usage of gold in commerce has been essentially eliminated,

it is only looked upon as a store of value for individuals and central banks, and of course in jewelry, with a tiny amount used for industrial purposes.

Bitcoin therefore is a vastly different asset.

Zentor

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Well no, they will exist as brothers. For example there also are silver, platinum, ruby and they also are valuable

Ponzi Shame

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In my opinion it is really impossible knowing that both are not related with each other or they are two different things. Also with the reason that Gold has a much stable market value than Bitcoin and it can be used on different countries. Bitcoin is not even recognized in some places. But even if it will become legal to most of the countries, Gold will still be a good investment for those who wants to invest but doesn't want to take that much risk. I hope you get what I am saying and pointing out.

mezzaluna

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Your point is plain stupid. Yes they both grow in value, volatile price etc. But these two have different field. Bitcoin was never an asset to begin with, it's a currency. Gold, the most malleable, conductive multipurpose metal of all is a precious metal and you can't find it in your backyard. Gold has wide range of uses that's why it has become an asset. Bitcoin, on the other hand, as I have stated is a digital currency people think of it as an asset because of it's growing value. If you say something of high value because of global consensus, that would be diamonds my friend. That's a perfect example of an effective marketing ploy for some burnt carbon.

Tim2412

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to my mind bitcoin will not replace gold, it will no be reasonoble, I think gold is value and it is tangibly and people understand what they can see and touch)))

meliodas

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Quote from: [email protected] on October 05, 2017, 08:08:14 AM

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 think bitcoin can't replace gold because gold as been our lifetime investment for generations from the generation of our ancestors. The value of gold is stable and is increasing without any doubt. When it comes to gold, we have no fear because it is something that we can hold physically.

MaitoMaito

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Gold - physical recourse
Bit - metaphysical recourse
Maybe at the end of day, but man - gold is so canonically for our civilization

Daniya

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But I don't think for a second that cryptocurrencies will ever replace gold, for a number of reasons. ... The cryptocurrency market, although expanding rapidly, is not quite there yet. I will admit, though, that bitcoin is energizing some investors, especially millennials, in ways that gold might have a hard time doing.

Vin183~

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in my opinion it is impossible. because of the many differences between gold and bitcoin. one of them is the level of risk. where bitcoin investment is much more risky than gold.

Mobshady24

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If we compare the value of bitcoin and gold, the first you need to think of is bitcoin is better since a piece will worth a 15k usd and knowing that in just a few hours or days it will change but one thing gold that has an edge over bitcoin is its stability in price so if you are an investor that is more on less risk go for gold.

readygoaw

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Quote from: jzone23 on January 14, 2018, 04:23:25 AM

Maybe for fast profit yes bitcoin could make more than what gold can bring but the fact is it can't replace gold. Gold will exist forever and that is sure even gold found in natural place where it is found already gone then it will just make produced gold before with higher value unlike btc that we don't know until when it can live.

Bitcoin and gold are two different things. Each is valuable in its own way. Gold is time-tested and its value is constantly growing.

Notcalculator

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It really depends on how you see Gold and Bitcoin. As jewelry or a precious metal, Bitcoin could never replace gold. You can't use bitcoins on your circuits and electronics. But if you're speaking of investment or security then yes Bitcoin could replace Gold.

Governments hold gold because unlike fiat ,that needs a central backer, gold has a universal value. It does not matter what country you go to, gold will always have value. Bitcoin could potentially work the same. It has no central backer and it has value because people believe it has value. The main difference is that Bitcoin is much cheaper to store than gold. Imagine how much Fort knox spend everyday on security as opposed to digital security which goverments already spend on.

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