Will bitcoin replace gold? - page 92.

WannaCry

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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.

First we are talking about something that has a physical form, and can be used in various ways such as materializing it into accessories. So, I highly doubt that bitcoin will replace gold. Although, there is a possibility that bitcoin’s value will be higher than gold.

peterbom

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Well there is an assumption here that gold is the standard store of value for investors. I think this is generally not true: gold is a very small portion of the overall world GDP or of investment transactions daily.
Setting this assumption aside, I suggest, based on some experiments we have been doing with blockchain and BitCoin, that BitCoin has some technical challenges.

Jaydeepjani

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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

crustycrab666

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terra-credit.com

I think not, bitcoin and gold are rare items that are sought after. to get it also through the mining process. each has a market traded by its fans. nothing replaces each other. but complete.

thecryptogiant

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Quote from: DIMKAZDS on October 21, 2017, 11:59:36 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 - 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.

No. I don’t think bitcoin will replace gold. Although prices of bitcoin have escalated over that of gold. But still it won’t be able to replace gold because firstly, gold is much more popular that bitcoin because of which it is being used much more than bitcoin. Gold is much more trusted by bitcoin because of which people invest in gold way more than that they do in bitcoin. Then gold has a physical entity and is a precious metal whereas bitcoin is just digital currency. Gold is a stable form of currency which means that its value does not fluctuate. Whereas bitcoin is not stable and it’s value fluctuate. Then gold is centralised which increases its stability and does not let it to collapse whereas bitcoin is decentralised and can collapse.

Yes you are correct and i agree with this that gold is much more popular than bitcoin but by the time the world become more and more technical i am sure bitcoins popularity will surely grow up more.Now as per price wise you cannot compair both as tow are completetly diffrent thing one can be use and physically exist and other one is paper money.So if internet fails and we become offline gold replaces bitcoin.on the other han internet fail is not possible before world war 3 so form my point of view bitcoin surely beats gold.

Usui-Kun

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Streamity Decentralized cryptocurrency exchange

Bitcoin would not probably replace gold because gold is far more stable and valuable due to its rarity, bitcoin's price depends on how widely people use it and does not have any kind of stability with respect to its value.

ASHLIUSZ

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Gold is something an universally accepted reserve which has got a materialistic value which we don't have with bitcoin. When it comes to bitcoin, it's all about trust and on technology backing. The growth could have surpassed the value of gold, but the same won't make bitcoin replace gold at any point.

MAHNOOR

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Quote from: ?? on ??

Bitcoins are the new trend setter of today. The rate with which bitcoin has come in economy it's remarkable. Bitcoin is come to origin in 2009, and since its rate gas been increasing incredibly.

‌Gold and bitcoin are two different thing, each serves for a different purpose. Although both item can ba an investment, they are still different. You can trust bitcoin for very wise invesment for the future as well as gold however gold also are precious thing because it people love jewelries and anything from gold so I think gold will stay in the market as well as bitcoin.
. 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.

Yes I think it will replace gold because of some reasons and I am sure these reasons which blow people minds because these reasons are really useful and everyone should need to know these reasons are bitcoin is much common and can be easily able on the internet while gold is not enough common and for gold we must need to pay an amount of money while bitcoin don’t need anything just need intelligence and experience and then it will change life while gold will not.

DIMKAZDS

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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.

No. I don’t think bitcoin will replace gold. Although prices of bitcoin have escalated over that of gold. But still it won’t be able to replace gold because firstly, gold is much more popular that bitcoin because of which it is being used much more than bitcoin. Gold is much more trusted by bitcoin because of which people invest in gold way more than that they do in bitcoin. Then gold has a physical entity and is a precious metal whereas bitcoin is just digital currency. Gold is a stable form of currency which means that its value does not fluctuate. Whereas bitcoin is not stable and it’s value fluctuate. Then gold is centralised which increases its stability and does not let it to collapse whereas bitcoin is decentralised and can collapse.

supine

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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 bitcoin will replace gold, it's true that bitcoin is a good investment, however, gold is still gold. If bitcoin reigns in the crypto world, a lot of people are still keeping gold as investment because it's a secured investment, it's value will stay high.

kelinci_putih

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I think bitcoin will replace gold, so many people choose put their investment into bitcoin than gold nowadays. The bitcoin price always increasing by time to time it will provide if investment in bitcoin will more profitable than investment in gold. Gold price always stable not like bitcoin price will always fluctuating increase and decrease, so bitcoin is good investment to long term holder.

Rj Manik

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It's a good news for every bitcoin trader that Bitcoin is replacing the gold.It will open up a bit more of Bitcoin's movements.Because every business has a policy that has to find new investment approach.We saw Bitcoin Cash replacing a coin bitcoin.So I think it will be good.

cjinny

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That sort of thing will never happen. Gold will not be replaced by bitcoin from its functional side. bitcoin can be said higher than gold, bitcoin can be equalized with diamond.

Fatemablabla

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I'm Matured Now

I dnt think there is any similarity between bitocoin and gold.i mean they both are precious but in a different stage.

saekotye07

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for me GOLD is a mineral that you can see all over the world yes it's have a big value but if you going to compared it to bitcoin. they have a similar on the price but different in the aspect...

raking

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I do not think so. btc and gold, I don't notice any relationship. If btc receives global consensus, it will also not be able to replace gold,but It will become the global currency, the strongest currency.

tylerderden

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Both bitcoin and gold are completely different in my opinion and though bitcoin is gaining more momentum in present times one should remember that gold has always been there. People have confidence in it and it has never failed people. Also gold is pretty useful in different things. However bitcoin is a totally different type of asset. And it has not gained acceptance everywhere. Also bitcoin is decentralised. Not bound to any regulations. This makes it a good and a bad thing as well as people will find it difficult to lean towards bitcoin.

dewynijhof

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dApps Development Automation Platform

bitcoin is a kind of cryptocurrency, has just been born recently with many advantages but gold has been born from very longtime and be a symbol of an economy, so if bitcoin want to replace,it is not impossible but it will take a lot of time to be a symbol of whole world.

bitfornewbs

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It's a different matter. It's a big no for me. Bitcoin can't replace gold there's a big difference between the two. Bitcoin is a form of currency and it's different from gold which is a form of metal where there's a value on it and can be tested as a jewelry or things are formed from gold. At the same time, the two can be an investment but in different purpose and it's different approach for people. People see gold a precious thing and has a value on it . So Bitcoin will not replace gold.

FasTroy

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Quote from: Freezingel on October 21, 2017, 08:57:02 AM

No, bitcoin won't replace gold. Gold will keep existing because some people prefer physical things and it's beautiful. It's also more stable than bitcoin so some people like it more than bitcoin.

You are right, but when we talk about the value, bitcoin will automatically beat the gold. It's right that the value of gold increase each year, but it not increase too much like bitcoin, It's a very low difference compared to the volatility of bitcoin and the high increase of price over the years.

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