Will bitcoin replace gold? - page 79.

mriansa

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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.

this may be possible, because bitcoin and gold prices and its availability more gold than bitcoin, bitcoin will be very expensive because of the factor and availability of it, while gold may be lost with bitcoin.

CaliforniaCrypto

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Bitcoin will never "replace" gold. Both are excellent stores of value. A solid investor would hold both to prepare for any possibility in the future.

FaithETH

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Most likely no. It's not as black and white as you seem to think it is. Both of these commodities have various attributes, one has something the other does not and vice versa. Gold is also not exlusively used as a wealth measurement, it has also a lot of other uses in other fields such as electricity and so forth. What connects these two is the fact that they are scarce, but that's about it. Gold is scarce because of different reasons than bitcoin is. One of these two gold is the better one to suit the situation because currently bitcoins and cryptocurrencies aren't that big to completely overshadow gold. We'll have to wait until it becomes more influencial or out of nowhere we become a staunch all-technological civilization.

lenj

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No i dont think so. I think bitcoin never replace gold. Each of them has different advantages and disadvantages.
So they will never replace each other.

unknown-user

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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.

Nope. Bitcoin and gold are totally different even if in terms of an investment. Bitcoin is a currency which its market value is increasing from time to time while gold is putely an asset that has a stable market price. indeed, in general Bitcoin is better but still, the market price of gold is more stable.making it less risky as an investment and it is legal to most of the countries unlike Bitcoin. Maybe it is just a matter of perspectives.

shivansps

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Yes I think soon btc will replace gold in price and we will se btc above $100k

HEWRA

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I dont think we will ever see that bitcoin will replace the gold. After all, the bitcoin may be still worth a lot during a really big crisis like 3rd world war, but still it is only cryptocurrency so price is mostly about the supply and demand principle. However, gold will always remain its value because it is physical usable in many different ways, and simply mining it is hard and there is limited amount all over the world.
I still think that gold is much way better to save if you want to be secure during the big crisis- if something like that is going to ever happen ( and i think it is possible ).

CrypticGambit

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Yes it will definetely replace gold as it is more rare and has limited supply wheras gold can be found somwhere in the earth. The gold market is also bigger than bitcoin market but we are slowely getting in there which is really cool in my opinion, because as soon as we get high market cap, the bitcoin will not be so volatile and the price will be more stable, which will increase global usage and mass adoption of the blockchain technology.

South Park

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Quote from: ObscurePen on November 01, 2017, 09:03:31 PM

Do you mind to explain what you mean by “the cue-ball is not only a measure of value but also a settlement system”?

I personally find Bitcoin to be awfully similar to gold, except it does have a specific advantage of being a currency. You don’t see people accepting gold blocks as payment for grocery nowadays, do you? In the case of Bitcoin, such a scenario is also very rare, but it does happen. I have a news agency near my house that accepts Bitcoin as the payment for a few specific items. This is most certainly an advantage that Bitcoin has over gold. Is this what you mean by the cue-ball?

Well, in that case, gold also has a cue-ball. Its price is not volatile like a cryptocurrency. Rather gold enjoys stable price growth, great for investors. So I don’t really think that Bitcoin will replace gold, but it may compete with it.

That is because in many countries trying to use gold as a currency is illegal but in some countries this is changing and gold has been allowed to circulate once again, so we may be witness to a gold comeback but for the first time in history it has a competitor with even greater characteristics than itself.

dusty rhodes

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crypto is good when the shit hits the fan slightly

if shit really hits the fan gold,silver water guns and bullets will all have real world value while nobody can get to their digital currency

Tennisfortwo

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How can you even compare gold with bitcoin? so 1 kg gold equals to .. $ you can not do the same with bitcoin and be still comparable. So in my opinion the one will never get over the other because it is simply not in the same line.

rockyfeller

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I think bitcoin will replace soon maybe after 5 to 10 years. bitcoin is a digital asset and it has a real value a commodity in other countries. just right now fiat money is around the corner.

South Park

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Quote from: Lovelybittycoin on November 01, 2017, 04:00:28 AM

Change is inevitable so if bitcoin might or overcome gold, the world is changing I feel it might happen anytime either on a high level or subtle.

Everything changes but gold has been a constant through human history, so I do not think bitcoin is going to replace gold completely since there is always going to be people that are going to prefer gold over bitcoin however there is the possibility that bitcoin overcomes gold in the future.

Henry Sy

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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.

It seems like you are now underestimating the value of gold as a basis of the highest currency since bitcoin has already existed in this modern era where we are all currently living. Although there can be really possibilities and instances that bitcoin can replace gold, we must not set aside the value of gold since it was the first currency that has existed to be have the highest value on the old times. In addition to that, there is no competition happening between those two because we people are just making these all complicated. Time will come that bitcoin can somehow replace gold but gold value cannot be erased to have the greatest value on the past times.

bitgolden

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Quote from: yyz13857180757 on November 01, 2017, 05:11:07 AM

No, gold is a hard currency for thousands of years, and its status can not be replaced

Well it is hard to say that gold cannot be replaced, as it is an acceptable thing that everything is temporary and people love change and prefer it over old.

Both have its own importance as bitcoin is easy to be transferred and invested and for gold first it is to be converted into money and then transferred which is a lengthy and complicated process while on other hand bitcoin offers quick and easy ways.

dg2010

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Despite Bitcoin value is not negated. But I don't think that Bitcoin can replace Gold role. Bitcoin has many disadvantages and one of the most is that it depends on the Internet. How does Bitcoin exist without Internet? Is it still value?

ObscurePen

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Do you mind to explain what you mean by “the cue-ball is not only a measure of value but also a settlement system”?

I personally find Bitcoin to be awfully similar to gold, except it does have a specific advantage of being a currency. You don’t see people accepting gold blocks as payment for grocery nowadays, do you? In the case of Bitcoin, such a scenario is also very rare, but it does happen. I have a news agency near my house that accepts Bitcoin as the payment for a few specific items. This is most certainly an advantage that Bitcoin has over gold. Is this what you mean by the cue-ball?

Well, in that case, gold also has a cue-ball. Its price is not volatile like a cryptocurrency. Rather gold enjoys stable price growth, great for investors. So I don’t really think that Bitcoin will replace gold, but it may compete with it.

VeroBTC

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bitcoin cant replace pure treasure.
we know, bitcoin price is more than gold, but it cant be replace existence of gold.
and i think, for a long long time all cryptocurrent will die and we will back to gold.

Deddi

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Could have happened ... because everyone would be in dire need of Bitcoin ..

Disconnecting

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Quote from: Mazda17 on November 01, 2017, 06:31:19 PM

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.

A good opinion and I like your opinion.
If bitcoin can be permitted in all countries automatically bitcoin can replace the position of gold as a jewelry let alone bitcoin is very easy to make transactions therefore bitcoin should be aprisiasi in the real world and easy to get.

I think yes, because nowadays gold is hard for us to find. But bitcoin is easy for us to earn money. Just an internet connection and a smartphone then a big chance for you to invest money.

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