Topic: Will bitcoin replace gold? - page 71. (Read 15681 times)
I don't think Bitcoin will replace gold, but Bitcoin can exceed the value of Gold in the near future.
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.
Gold could not replaced with BTC. but BTC for 10 to 20 years in future can put top of all valuable goods.
Bitcoin and gold is on differe t level i think there's no need to compare these 2 bitcoin will not gonna replace gold because it's a digital currency unlike gold that is tangible and only can get through literal mining.
I don’t think it will replace gold as there will always be a market for gold, but I think it could be the modern day gold
Thats comparing apples to oranges. The value, hype, and global consensus are some of the few similarities in between them. They have also both become a sort of investment vehicle with the difference of one being a tangible precious metal and the other an intangible cryptocurrency.
Which is better?
I believe they are not comparable. There are so many differences that they could never replace each other.
Which is better?
I believe they are not comparable. There are so many differences that they could never replace each other.
No bitcoin will never replace gold because it is not physical, but we can talk about gold internet
Gold is metal, bitcoin is a digital asset. I don't see why people decide to compare the two, it's like asking if bitcoin will replace green paper. It just won't happen. There's a market for gold and a market for bitcoin, I doubt that they're linked.
No. Although Bitcoin is really good, I dont think that it can replace Gold. Because gold has beed a Fiat money for thousand years. People always accept Gold value. Bitcoin can't replace it
bitcoin is an asset in the online world while gold is an asset in the real world. if for bitcoin beat gold, I think this can happen as long as the supply of bitcoin can be added.
Not possible.. At, all no matter how the worth is
Do not forget that gold has a certain value as metal. It will lose it only when its unlimited reserves are discovered, but even in this case the extraction will cost some resources
It could be in the future. Gold is physical thing and it has no value. You have to spend some cost to store it. However, bitcoin is easy to store. No need much cost so it will be for sure.
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.
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.
and another things is Gold wasnt just be on your door way,it tooks hundred thousand of years before nature created it before people learn the value of ecerything gold is there to let them know whats a valuable can appraisal by means of gold value.gold will be gold and nothing can change it.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.
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.
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.
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.
and another things is Gold wasnt just be on your door way,it tooks hundred thousand of years before nature created it before people learn the value of ecerything gold is there to let them know whats a valuable can appraisal by means of gold value.gold will be gold and nothing can change it. 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.
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.
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 dont think so. gold is some jewelry metal so it is a high value thats why its important but when you compare them with bitcoin that too is look a like but i still choose bitcoin.. 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 do not think that Bitcoin can replace Gold...
Than Gold is a physical thing, instead of Bitcoin.
Bitcoin is "only" a software which needs for Trading a own Hardware, wireless and electricity...
So if there start a new World Crise it is better to have Gold or any other physical things for trading, than an virtual Coin, which you can only trade with hardware wireless and electricity.
In the past the useless Gold get again and again worth, after each crise gold was a method to trade.
Than Gold is a physical thing, instead of Bitcoin.
Bitcoin is "only" a software which needs for Trading a own Hardware, wireless and electricity...
So if there start a new World Crise it is better to have Gold or any other physical things for trading, than an virtual Coin, which you can only trade with hardware wireless and electricity.
In the past the useless Gold get again and again worth, after each crise gold was a method to trade.
Bitcoin is grand child of gold. Paper money already replaced gold in terms of currency and now bitcoin is about to replace the paper money for good. And in terms of asset too bitcoin is way beyond gold.
I highly doubt that it will. Indeed, bitcoin has a much larger market value than gold, and in the future, it will surely be more expensive. But for the simple reason that gold is being used through decades and is legal to most of the countries, it will be somehow impossible for bitcoin to obsolete gold. Maybe it will be a better investment but gold will still exist for sure as an investment.
Main financial function of gold is to determine real value of fiat money. Because fiat money is backed by or is based on gold. If bitcoin can determine real value of fiat money better than gold, yes bitcoin can replace this function of gold.
Bitcoin can perform this function better than gold. Because bitcoin quantity is known more precisely, can be monitored easier and faster. So, scarcity of bitcoin is provable with less doubts than scarcity of gold. Therefore bitcoin represents base value better than gold.
It means, in the future, after bitcoin value becomes more stable, we may have to use bitcoin value to calculate real inflation and to compare price movements in the past and to estimate future value of investments. Bitcoin can slowly replace fiat money too, if this happens. Because bitcoin doesn't have inflation and doesn't have the drawbacks of gold if used as a means of exchange in daily life.
Bitcoin can perform this function better than gold. Because bitcoin quantity is known more precisely, can be monitored easier and faster. So, scarcity of bitcoin is provable with less doubts than scarcity of gold. Therefore bitcoin represents base value better than gold.
It means, in the future, after bitcoin value becomes more stable, we may have to use bitcoin value to calculate real inflation and to compare price movements in the past and to estimate future value of investments. Bitcoin can slowly replace fiat money too, if this happens. Because bitcoin doesn't have inflation and doesn't have the drawbacks of gold if used as a means of exchange in daily life.
No way gold has held value for thousands of years .Bitcoin has be only be around the last 10 years .Has a long time to go until it is compared to gold
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