Will bitcoin replace gold? - page 49.

ir.yance

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Quote from: [email protected] on October 05, 2017, 09:08:14 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.

replacing may not, because some people do not know what is bitcoin, especially parents
but it's just that maybe bitcoin is higher than gold and will be number one for people who understand bitcoin.

Tiger Junk

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Quote from: Enjorlas on January 07, 2018, 10:40:15 AM

No because gold will always have the advantage to be a physical value, unlike bitcoin

I think bitcoin will not replace gold and for me bitcoin and gold is really different on each other so for me we should stop comparing gold and bitcoin, and we all know that bitcoin is intangible and gold is tangible and for me gold is the past and i think bitcoin is we will be the present in this world.

Conquerogue32

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Bitcoin may have surpassed gold in price, but gold still remains to be the safe haven of a lot of people especially during times of uncertainty. 'Physical' gold will still be there even if the internet were shut down.

giogio0504

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Quote from: BitNinja2017 on January 08, 2018, 10:06:26 AM

BTC will be digital gold oneday, where digital assets are more valuable than tangible resources because of society's modernization into a digital age.

Digital value is very important nowadays, but it should be mentioned that people all over the world try to earn money, use digital value in order to have opportunity to buy natural assets.

congtuan001122asd

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I think that will never happen. Bitcoin grows but gold has its own benefits. Gold is a precious metal, its value is stable. Not only that, gold has aesthetic value.

MGmahesh

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I think gold and bitcoin are two different views in different shapes and dimensions, but there is one essence that is value, both are tools to get that value, so bitcoin can beat gold in terms of achieving value alone.

futurebitcoins

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Quote from: missyqt29 on January 08, 2018, 10:23:57 AM

Quote from: [email protected] on October 05, 2017, 09:08:14 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 hope we could stop comparing cryptocurrency to any other valuable things because those two operates differently. Gold is a classic wager to any financial need and not just a piece of metal. We like it or not, many people still prefer tangible money. What I hope for, that bitcoin will be the "gold" of the future years.

What if the bitcoin drops to zero value? anything is possible in the digital world because it is not physical money.

I am 100% sure gold value will never come zero. i believe physical things, but I use the digital money to make quick money.

missyqt29

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Quote from: [email protected] on October 05, 2017, 09:08:14 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 hope we could stop comparing cryptocurrency to any other valuable things because those two operates differently. Gold is a classic wager to any financial need and not just a piece of metal. We like it or not, many people still prefer tangible money. What I hope for, that bitcoin will be the "gold" of the future years.

BitNinja2017

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BTC will be digital gold oneday, where digital assets are more valuable than tangible resources because of society's modernization into a digital age.

Creating N Action

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First of all, bitcoins are differ from the real gold when it comes ib their physical appearance. But both bitcoin and gold can be the same in terms of earning and gaining money. Both of the two can help people to have a good profit. But the fact is bitcoin cannot repalce gold because some people can have a gold not in a proper way but many people can have too bitcoin in a good manner/good way. Bitcoin has a stable price unlike bitcoin.

wladsem555

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Quote from: HeRetiK on October 05, 2017, 09:20:06 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, 09:12:21 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.

...in my opinion this is a very correct idea

fistteam

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it will not happen. gold and bitcoin have their own benefits. Gold is a precious metal, it has aesthetic and economic value. Its value is standard throughout the world. bitcoin can not replace it.

Despacito

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Quote from: Haxor321 on January 05, 2018, 12:46:08 PM

Quote from: [email protected] on October 05, 2017, 09:08:14 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.

In my opinion the bitcoin could really increase it price in the coming years up to 100000$ in my prediction i guess it will continue to increase its price in the market even if it is staying in one place most of the time but as what we are experience the bitcoin is staying in a price and continue to achieved more higher price in the market than before so i guess it could be more expensive than a gold but i guess it could never replace gold but it could replace gold virtually but gold is a thing and obviously we can touch it and it is a natural resources.

The time will tell, it's hard to analyze it with the current data. The market expansion and the liquidity are in extreme levels, making the predictions impossible to tell about the future prices.

Gold shall stay as gold there. We don't care about its replacement. We focus on bitcoin.

exul

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sorry gold is not exchange with bitcoin, because it's crypto currency.

Balinsayaw

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BTC cannot simply replace gold as a barrometer of nation's wealth. btc still struggling to be accepted by the government.
Gold will remain as barrometer of gold and it value will not be deminished.
btc can bea partner of gold but replacing it is beyond impossible.

tleilaxu_eyes

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Gold will only be supplanted by Bitcoin once the gold on asteroids can be harnessed. Since it is not feasible to deploy mining equipment to an asteroid, we will have to redirect a smaller passing asteroid to impact Earth just offshore where it can be retrieved economically. This can be accomplished by detonating explosives near the asteroid as it approaches Earth. It will require sophisticated rocketry with precise sensor capabilities in order to safely direct the asteroid's path.

Therefore, the entity that controls the world's most advanced rockets in the coming decades can exponentially increase Bitcoin's value by devaluing gold via flooding the supply of it.

AstaYuno

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I don't know if it could replace gold, but rather than thinking it would I think it would be better if both could be a store of value to have alternative from physical to digital.

jbautistangina

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It cannot replace the gold as a commodity because BTC is a digital currency where you cant touch or hold it like what gold is,gold has many uses in our daily life,for example gold is being used in jewels,or in electronic parts,which BTC cant use at,but as a currency like what gold was like back in time,yes btc can replace the gold's use.

megalith07

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Perhaps it could happen yet in the event that supplanting the presence of gold I think not on account of gold is more mainstream in the group and many fans let alone among housewives BTC still couple of individuals who comprehend its reality and comprehend it requires investment and much to find out about BTC.

Ayston

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No it can't.. ..
They have importance and function separately...
Gold is tangeable product where in off net people can do trading also like the way we do in Bitcoin.. .(except we do it online)
We can have them both also to use them to buy or get things...
Or
We can use Bitcoin to buy gold
And use gold ta have Bitcoin.. ..
AND I think there's no need to replace each other...

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