Will bitcoin replace gold? - page 82.

wurth

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Quote from: aso118 on October 31, 2017, 04:04:47 PM

Quote from: dancingnancy on October 31, 2017, 03:40:28 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.

Bitcoin can be a better alternative to gold, but cannot completely eradicate gold as it's market share is too high. Importance of bitcoin is increasing but it still doesn't have that much of a goodwill of gold. For trading purposes, bitcoin is better, but for long-term savings gold is better as it doesn't depreciate in value as such.

Nobody is talking about "eradicating" gold. If Bitcoin replaces gold even to the extent of 10%, I would consider it a victory and valuations will shoot up. There are central banks, investment banks, households holding gold. Bitcoin doesn't even come close.

The world's economy also depend the volume holding Gold in treasury of every country to decide the growth of economy. A rich country always holding more Gold than other poor countries, therefore, Bitcoin can not replace the role of Gold in this century.

crypto_world

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no, can't replace. I can touch gold and carry on my chest.

khimer_rangers

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I'm sure gold will be replaced by bitcoin,bitcoin is better than gold, and very good for investment.I think gold is good for jewelry, not investment, just a good bitcoin for investment.

shark69

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in general gold, will be affected with the currency of another unstable country.
I think bitcoin will replace gold, because bitcoin will not be affected with anything else including currency value.

aso118

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Quote from: dancingnancy on October 31, 2017, 03:40:28 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.

Bitcoin can be a better alternative to gold, but cannot completely eradicate gold as it's market share is too high. Importance of bitcoin is increasing but it still doesn't have that much of a goodwill of gold. For trading purposes, bitcoin is better, but for long-term savings gold is better as it doesn't depreciate in value as such.

Nobody is talking about "eradicating" gold. If Bitcoin replaces gold even to the extent of 10%, I would consider it a victory and valuations will shoot up. There are central banks, investment banks, households holding gold. Bitcoin doesn't even come close.

dancingnancy

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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.

Bitcoin can be a better alternative to gold, but cannot completely eradicate gold as it's market share is too high. Importance of bitcoin is increasing but it still doesn't have that much of a goodwill of gold. For trading purposes, bitcoin is better, but for long-term savings gold is better as it doesn't depreciate in value as such.

phillert

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Simple, obviously.

ButtCrack

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Quote from: BitcoinGirl.Club on October 31, 2017, 02:04:16 PM

Quote from: LENXIII on October 31, 2017, 01:44:39 PM

Nothing will replace gold but i think bitcoin will be able to get a higher value than gold because more people are investing in bitcoin and you can't really buy things with gold but with bitcoin you can buy anything you want.

I agree with you, in terms of value bitcoin will come out the winner because it has a fast growing user base and is easily accessable but I believe bitcoin was not made to disrupt the existence of gold which is a natural resource that is usually used as a sysmbol of wealth unlike bitcoin which had several uses such as a store of value or can be used as an alterrnative to fiat for everyday transactions.

Bitcoin look like as a digital asset than a digital currency. I believe with the current value of Bitcoin, no one wants to uses it to pay the food bill or electric bill. Pay these things through Bitcoin just makes us waste our Bitcoin for the transaction fees useless.

BitcoinGirl.Club

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Quote from: LENXIII on October 31, 2017, 01:44:39 PM

Nothing will replace gold but i think bitcoin will be able to get a higher value than gold because more people are investing in bitcoin and you can't really buy things with gold but with bitcoin you can buy anything you want.

I agree with you, in terms of value bitcoin will come out the winner because it has a fast growing user base and is easily accessable but I believe bitcoin was not made to disrupt the existence of gold which is a natural resource that is usually used as a sysmbol of wealth unlike bitcoin which had several uses such as a store of value or can be used as an alterrnative to fiat for everyday transactions.

LENXIII

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Nothing will replace gold but i think bitcoin will be able to get a higher value than gold because more people are investing in bitcoin and you can't really buy things with gold but with bitcoin you can buy anything you want.

Dan D. Lion

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As many have noted, Bitcoin and gold are simply not comparable. Will apples replace chicken wings? 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.

ujjwalsethi

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As it's start for bitcoins, yes bitcoins will replace gold to some extent. Those who were investing in gold now they will start investing in bitcoins because it is quite similar with gold as both faces up's and downs in the price but in case of bitcoins there is huge profit.

Avity

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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.

Bitcoin and gold are very different. In general Gold is better than bitcoin at becoming a product and component of manufacturing. Bitcoin is better than gold at transportation, distribution and account of value.

Both have a value (Because people deem it so), however Bitcoin is far superior in terms of transactional value than any other value asset that has ever existed... and this is why bitcoin will continue to grow and become the new method of mass financial interaction.

Dr.Osh

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Quote from: Guzztsar on October 31, 2017, 04:39:27 AM

That's the point, gold is physical and essential for many applications, basically irreplaceable.
But like a commodity, btc could become the digital equivalent of gold.

well, bitcoin and gold do have a very clear distinction. and of course bitcoin will not replace gold. gold has a physical form, while bitcoin is only in digital form. well, even bitcoin will not have a digital form without an internet network. so of course it can not.

jimn

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Bitcoin can't replace gold of course because so many reasons. Firstly gold isn't a currency , it is good or an asset and it is also used offline not online. Bitcoin is mainly a currency and used mostly online. Also Gold is used and bought a lot more than Bitcoin, because its old and people trust it since thousands of years.

na2nk182

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I think gold and bitcoin can't be compared because the users have different views about the product, gold is a product that we can see and feel and we know since ancient times gold is a product of high value and it still survive until now , whereas bitcoin and crypto currency's is a valuable in the last few years and some people are less trusting and understand things about bitcoin right ... and then we do not know how long bitcoin will survive ... ?? ?? everything can change and we don't know that.

FDC1412

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Bitcoin can not replace gold for the simple reason of gold is a physical element that is used for many different application and scopes. Bitcoin is just a virtual currency that is valued depending on the quantity of the community to invest in it and that is it. Unlike gold, gold is applied not just as a convertable to money but also is used for electronics, medical, fashion, etc. The price differs and as of today bitcoin has greater value than gold but it can be varied depending on the community investment on bitcoin.

btcbrother

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Quote from: Timoteus on October 31, 2017, 04:41:55 AM

Bitcoin will replace gold, oil, everything

LMAO Bitcoin will replace oil, huh? So I guess we will be powering our cars with BTC from now on. Roll Eyes

Timoteus

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Bitcoin will replace gold, oil, everything

Guzztsar

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That's the point, gold is physical and essential for many applications, basically irreplaceable.
But like a commodity, btc could become the digital equivalent of gold.

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