Will bitcoin replace gold? - page 48.

The_Dark_Knight

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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.

Gold has an advantage that bitcoin does not have and that is not going to have, gold has been around for thousands of years, people trust in gold and in what can be done with it, they understand its value by just looking at it, gold can be touched with your hands something that bitcoin also lacks, so while I prefer bitcoin over gold there are some characteristics that will allow gold to remain relevant.

wingsking

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it is difficult,Gold is a rare metal，but bitcoin is essentially a cryptocurrency.
Gold will be less and less time with，Bitcoin will be more and more.

goku21

jr. member

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If you want to replace gold 1 bitcoin I want just as many gold ah if not just because the price of bitcoin is higher and it's still higher so if it's just a little buy it's better not to buy it and just wait for the price of btc to rise.

emondot

newbie

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Gold is available in limited quantities, and this is becoming more expensive over time. Bitcoin is exactly like that, but the difference is that it may be digital or invisible. and the numbers are equally limited. So now you've turned that gold into something virtual and stored on your computer or smartphone. Bitcoin has all the important aspects that gold has, but it looks like a pulse. so to replace the gold I think it could be if one of them will run out first considering the number of both in the world is very limited.

DARKANGEL6415

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There is no way bitcoin will ever replace gold. The reason i say that is because physical gold can be used in times of total government and infrastructure meltdowns as a form of payments. Now even in good times gold is still used for the manufacturer of components needed for high end electronics. Also gold is used to make jewelry as well so thats another aspect we cant do with binary code bitcoin 0 and 1s.

Goti

newbie

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I do not think that bitcoin will replace gold ever in the future. No, it just can not be. I view bitcoin as a tool for investment. Now, at the moment it's profitable, it makes sense. But I'm not sure that it will always be so.

MathGame

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Quote from: HeRetiK on October 05, 2017, 08:20:06 AM

Short of asteroid mining becoming viable I think it's highly unlikely. Gold has been used as money for thousands of years, I doubt that it'll get replaced that easily.

Quote from: Red-Apple on October 05, 2017, 08:12:21 AM

hold it right there...
Gold is not just some shit you extract from earth and trade it to just have value. it has a thousand and one different usages in a wide range of fields. from electronics to medical. and from big (macro) to small (nano) sizes of it is being used.
and the "value" comes from these plus scarcity of it.

Keep in mind while gold has a lot of usages, it's utility is not the main factor that drives its value. If governments and private entities wouldn't use gold as store of value, it's price would be nowhere close to current levels.

Bitcoin will replace both paper money and gold regardless, it is all about. bitcoin is like the new gold 2.0

Blackwhite69

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Bitcoin has replaced the gold is true once Bitcoin price is already in the bag of the gold price is so high.

olatslodi

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Bitcoin and Gold are two different views in different shapes and dimensions, Gold is one of the most precious metal of the universe and it will exist forever. Whereas bitcoin is a virtual currency. So, both of these can be the same in terms of earning and gaining money.

Fantastic33

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Bitcoin cannot replace gold. Gold is an important element, also do have a price that also continues increase with time. But gold is not just gold itself which is important to make money but it has a lot of uses. It can be used to make accessories, electrical connectors of computer devices, tooth restoration and many different things.
Bitcoin is a digitial currency and its price continues to rise. Its also valuable but cannot replace gold.

Jackblack90909

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I don't think so, because gold is a lot older than Bitcoin and its also trusted by people around the world a lot more than BTC right now. In addition Gold is considered as physical asset and good, but Bitcoin is only a digital currency. But surely both have very high value and both are very profitable nowadays.

SameerSony

newbie

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Gold and Bitcoin are two different things.Bitcoin is a digital currency while gold is a precious metal but anything can happen in future.

earl07

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Quote from: leirou on October 05, 2017, 08:11:25 AM

I dont think so. In the end game Gold is still a precious metal and a beautiful thing in the eyes of a person. Bitcoin is a different story as it is a very good way to make transactions so as for the better currency the bitcoin would be best of two as for my opinion.

Yes,I agree with it,bitcoin and gold should not be compared for each other.The two have a diffent nature that makes it valuable to peoples eyes.Gold is the standard financial asset for many countries and been used for decades or even thousands of years,it is a treasure that nature made and it can be use for different puposes not like bitcoin,gold can be made into artistic things like jewelries.Bitcoin is a transparent digital currency,Although its price surpasses golds,but it is something that we have to come up with hypothesis that it can replace gold.

cybersofts

copper member

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In time, bitcoin will definitely replace gold. Bitcoins is a commodity and as a store of value as well, because of that bitcoin will serve the same purpose as gold. In fact, who need that heavy metal, anyway?

maikelujang

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Gold is a metal element that is shoft, shiny, yellow, heavy, and easily shaped. Gold is used as a financial standard in many countries and is also used as jewelry and electronics. Bitcoin will be very difficult to replace Gold, because this gold has its own advantages that make gold users more interested to having this.

Netnox

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Quote from: Arisgado on January 08, 2018, 11:18:26 AM

I don't know exactly how wealthy, because bitcoin and gold have a significant different, the gold is the profit able asset and bitcoin has many advantages over the gold that bitcoin is secure investment.

LOL.... Are you saying that Bitcoin is a secure investment and gold is not so? I would consider Bitcoin as anything but secure. If you invest in Bitcoin, then there is no guarantee that your investment will not turn to zero overnight. I am not saying that gold is entirely risk-free. But from what we have seen till now, the risk associated with gold is much lower when compared to the other assets.

Arisgado

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I don't know exactly how wealthy, because bitcoin and gold have a significant different, the gold is the profit able asset and bitcoin has many advantages over the gold that bitcoin is secure investment.

Hypnosis00

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Bitcoin can easily replace gold as a great asset for investment because gold is boring and slow in moving so i think that bitcoin will be a great choice because you can earn a lot of money in just a few days of investing while in gold that you need to wait for a lot of months before you can see some movements or improvements in your portfolio balance.

Granslam

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I don't think so , they are both an asset which have a high value and worthy, however gold is gold and it cannot be replaced by bitcoins. Before internet came and money, gold are already up there for trades and exchanges , buying and selling. Thousands of years ago Gold has been the standard basis of wealth of a person until now of course. They are both an asset but have different aspects of valuing Wink

PeterPPAP

newbie

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I do not think the current or future bitcoin is replacing gold. Because gold is precious from nature, can be used to exchange transactions. It also creates other artwork, even cosmetics...

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