Will bitcoin replace gold? - page 91.

bitllionaire

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Quote from: Magic Sarap on October 23, 2017, 05:44:49 PM

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.

I doubt that it will. First of all, Gold has a much stable market value compared to Bitcoin and also, given the fact that Gold can be used in most of the countries which again, unlike Bitcoin where there are still countries where it is not even known. But even if it will be legal to most of the countries, we can't hide the truth that Gold has been used through decades so it won't be obsoleted.

That is what not so easy. i do not think that bitcoin will ever replace Gold, In fact both do not have any relation between them. Gold is not a currency, it is a precious element which is also use for making jewelery, people also use bitcoin for saving their money. But bitcoin is a currency and we use this currency for online shopping and in some places even use it for ofline shopping also.

cryptoking710

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Gold has been around for a long time and will be for a long time to come!! everything has it's place in the investment world and bitcoin and gold will flourish together.

Magic Sarap

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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.

I doubt that it will. First of all, Gold has a much stable market value compared to Bitcoin and also, given the fact that Gold can be used in most of the countries which again, unlike Bitcoin where there are still countries where it is not even known. But even if it will be legal to most of the countries, we can't hide the truth that Gold has been used through decades so it won't be obsoleted.

admissions

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It's never going to replace gold but it's an alternative which I think will be used more daily than gold. Especially since Bitcoin is getting all the news coverage with the constant forks.

romeitaly

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I think it will not replace gold those two are different things. Gold is a precious thing here and it is valuable. Bitcoin is a digital currency and we can say that we can invest in it. Bitcoin is a different thing and it must be clear to us that it may be another thing to earn and have money.

Mysterious01

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

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

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.

I agree with it, Gold already built it's reputation and it has a wide usage therefore its value is there.
But if we are talking about replacement, I am not sure if it will really happen in the near future but if bitcoin will be accepted in all countries then this will be the time to talk about it.

wxa7115

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Bitcoin is GOD

Quote from: BIG Tyrese on October 16, 2017, 01:32:59 PM

It'll never replace gold. Gold is rare enough to mean something. But its an alternative. I don't think people would like to base their fiat money on Bitcoin though so gold will still be a backup to your money.

While the rarity of gold makes it valuable the most important thing when it comes to gold is that people have a complete trust in gold, gold has been around since the dawn of civilization and it has helped us to create a functioning society, right now not many people put attention to gold because the economy is still all right but when that no longer is the case gold is going to take the center stage once again.

Avity

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Bitcoin can not replace gold in several ways; as jewelry, a natural element, a precious metal found in the manufacturing process of many products worldwide and a purely physical store of perceived peer value.

However, Bitcoin (Blockchain) can replace gold and is doing so, in terms of a form a trade, just as government sanctioned currencies and credit cards did in the past. It is the evolution of the ledger. This in its own right, has its own inherent value which gold can not compare, because you can semi-instantly transport a bitcoin around the globe, across borders, where gold is incapable of such a feat.

In conclusion, in a sense yes and in another, no.

InvisibilityFP

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no cant, bitcoin will be bitcoin digital currensy ( online investment)
gold (offline investment) invest in bot of them is good

rindo

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Gold is unreplaceable. It is here before the beginning of humankind and it was immediately used by us as value tradeable currency. Nothing will ever substitute gold. But Bitcoin and gold can go along. Even becoming partners in the future, as Gold and oil are together ruling the financial world in the last century. May be we can reach times that both can leave in symbiosis.

Xenoph0bia

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Bitcoin and gold according to me are completely different assets. But yes even I don't think that bitcoin won't be able to replace gold atleast in the coming years. Bitcoin is a totally new and emerging digital currency whereas gold has been there for years. People have sl much confidence in gold but the same can't be said for the bitcoins. Also there is the fact that theft from digital wallets are taking place by the hackers, so there always remains the fear for the digital wallets. However gold can also be used for various other purposes and bitcoin is only used as a holding onto asset by most of the buyers.

DrYe5

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Quote from: samuraijin on October 23, 2017, 11:01:28 AM

I do not think if bitcoin will replace gold but all you have to know is because the gold value is so stable that no one cares about the global currency decline so that many people who store on precious metals like gold are very different from bitcoin. Bitcoin is very useful if we save money on bitcoin but do you dare to take risk with bitcoin prices that do not know the price is sometimes unstable and make a lot of people lose money, and I think bitcoin is just a digital currency. the currency is still running so there is still a lot of process in the bitcoin stage and there are still many laymen about bitcoin, bitcoin can be useful and can also lose in contrast to the value of gold is very stable and many people love precious metals in the century to century. and can not be replaced any items

I do not think Bitcoin will be able to replace gold. In my opinion, it is impossible to replace something that has been available for thousands of years. True, BTC can come in as a currency to the state, but only in part. If it continues to grow, then we will have a revolution.

samuraijin

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I do not think if bitcoin will replace gold but all you have to know is because the gold value is so stable that no one cares about the global currency decline so that many people who store on precious metals like gold are very different from bitcoin. Bitcoin is very useful if we save money on bitcoin but do you dare to take risk with bitcoin prices that do not know the price is sometimes unstable and make a lot of people lose money, and I think bitcoin is just a digital currency. the currency is still running so there is still a lot of process in the bitcoin stage and there are still many laymen about bitcoin, bitcoin can be useful and can also lose in contrast to the value of gold is very stable and many people love precious metals in the century to century. and can not be replaced any items

Honest Tim

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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.

Bitcoin can replace gold because gold is the best investment for centuries but now the world is travelling on a fast pace and people also want returns fast but gold isn't able to provide them these kind of fast returns, so bitcoin can defeat gold in that scenario. But also we should keep this in mind that bitcoin is just a short term craze but gold is proven investment from many centuries.

Taskford

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Bitcoin will not replace gold because bitcoin is even better than gold because if you will try to have an experiment and if you want to compare the possible profit in bitcoin and gold then you will see the huge difference between those two and that is bitcoin is giving too much bigger amount of profit than gold which is just stabilizing market unlike bitcoin that is fast moving up.

jatin729

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According to me bitcoin can't replace gold, because gold is a physical asset and people wear gold as a fashion.
Do we think that bitcoin can be wear ? lol apart from joke if we are compare with price than obvious bitcoin because it 5 times than gold. and people can make more profit from bitcoin if they invest. so for trading purpose bitcoin can replace gold

KKbit

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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.

In many years from now people perception of material things will change and so the value of digital assets. Psychological ownership and feeling of possession is already evolving as kids nowadays don't mind having their music in an online server instead having the physical cd and same goes for books. I still like cds and books though, but new generations the ones that will shape the future will recognize them as digital assets and they will transfer its physical value to digital value.

Same will happen to bitcoin over gold. Gold is a millenar vehicle and it can continue to be for some people because it shines and is kinda rare, but new generations will look for digital assets to store value.

mdripon

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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 one kind of metallic and it is very demand able other side bitcoin is digital currency and this is also demand able. so i think bitcoin not replace gold, maybe now bitcoin price is high but it there market place.

mehcat11

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Bitcoin will not replace gold. Gold still valuable and people's demand of gold will not replaced.
Gold not only use as investment. Gold can use as jewelry, electronic components, etc.
So that is make gold always valuable.

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Quote from: Jaydeepjani on October 23, 2017, 08:46:37 AM

Gold still attracts many of the people as it is a precious metal of all time . Bitcoin on the other hand can be used for transactions . For my opinion I will always go with the gold as we know how much ever the market changes there will always be value for gold

it is true that our friend says that in this case it is not going to replace gold, because this gold has emerged from the previous centuries before there was real money, which we use as a legal means of payment as well.

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