Topic: Will Bitcoin Replace Gold ? (Read 609 times)
Bitcoin will never replace gold for its inherent physical properties. But bitcoin could replace gold as the preferred medium of exchange. It's hard to say at this point because even bitcoin has not even penetrated 1% of gold market. It could very well be another cryto that overtakes bitcoins market share.
I don't think that bitcoin can replace gold. Gold has been there since time immemorial. Gold has a very stable price compared to that of bitcoin
It seems that it has happened because the interest of investors in gold has begun to be replaced because of the Bitcoin, a lot of shareholders who are hunting Bitcoin to be their investment material because the Bitcoin can generate excess profits.
Gold has been with us for generation now and it value is fixed and facts has it that the price of gold in the exchange market is fix and stable for long now and gold can not be use as a mode of payment in other words gold is not a currency, but bitcoin on the other hands is a digital currency and at the same time an assets with a great value in the exchange market but it price is volatile that is to say it does not have a fix or stable price but a digital currency.
BTC will never replace gold, but BTC may become digital gold, stored in the form of gold on the Internet.
I think both are trustable and had a huge worth for all times so i think bitcoin had an more than one step ahead of gold because the value is more higher than gold in short time so bitcoin has more value than gold in future.
Bitcoin will not replace bitcoin for me. Gold is a sign of power long ago and until now gold is sign of wealth. Ooops, not just a sign of wealth but gold is a precious element.
Even if people all over the world is getting more and more aware of bitcoin we are not in that position yet. Many asean countrys almost use gold as a currency. Older generations are aware of gold but would never really trust bitcoin. I think it will take a few years to get close but they are at least comparable.
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
Those two has different thing. But both has value. Meaning i can use bitcoin to buy a gold for my business.
I think Bitcoin has already replaced gold.Many people find Bitcoin most trustable than gold. Bitcoin is the king of cryptocurrency and it is one of the safest investment.Bitcoin is ruling the world I think people are interested to invest in Bitcoin more than gold.So in my opinion Bitcoin already replaced gold.
I think no, because gold is gold and bitcoin is bitcoin, what i mean is the two of them is very famous to us and both of them is even though they are not the same value but bitcoin is cant replace gold and viseversa.
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
Some people will never trust bitcoins because it is an online investment. For those who treat all opportunities with same eye are already placing their bets on bitcoins.
I agree with you. bitcoin can be like gold but bitcoin can not replace gold. because gold has a shape but does not run on a required system such as using payments. while bitcoin is a much-needed system for payment transactions. both valued because of the deal between the seller and the buyer.
I do not think that BTC will replace gold, but gold and bitcoin have different functions but can relate to each other as an investment. Bitcoin is a risky asset and is not internationally recognized as gold.
Bitcoin and gold are completely two different things. Gold is a metal which is given to us by nature and Bitcoin is a cryptocurrency created by a man. So the question of one replacing the other does not arise. Gold is used a long term investment since a long time whereas Bitcoin is also used in place of fiat money. The amount of money invested in gold is in trillions and Bitcoin is not even close to that. Bitcoin can never have that wide acceptability.
Yes that is right that these two are different thing, bitcoin is a currency a online currency, while gold is an element and we mostly use gold for saving purposes, I think that those people who want make money then they should invest their money in bitcoin, because bitcoin has a good potential to give us a good profit.
Between gold and bitcoin are different functions but can be related to each other. Packaging as a beauty that can be bought with bitcoin.gold can be replaced by bitcoin when gold in position as an investment.
I do not think that BTC will replace gold. They are a risky asset and are not recognized internationally as gold.
Bitcoin is not stable enough to replace gold
I don't see that happening any time soon. Both of them are of different entity, so gold will be what it is physical store of value and bitcoin may continue been king of crptocurrency.
Bitcoin and gold are in two separate categories, sure they are both stores of value, but one is digital and one is physical. They both have their own space, and both will continue to be used. Obviously Gold is no longer used as a payment method due to the difficulty in moving it around, and verifying its value. If you are asking if bitcoin will replace gold, it already has, what you should be asking is when/if ever will it replace fiat.
For this moment, i think gold is still not being replace so easily. Gold is limited edition and there is fix formula and rate for every gram it sell and it also has the committee to check and to help to fix the price. But for bitcoin, it is decentralize, thus it is hard to fix the rate and its rate also too fluctuate to monitor. So maybe in the future it will be the gold in crypto world but it will not able to replace gold.
The popularity on bitcoin is now trending all over the world because of the capabilities than gold has. I know gold is also popular in terms of prices but I think in terms of opportunity and without any amount to invest bitcoin is the most relevant. It has a brighter future as long as we support and manage our time for the sake of bitcoin. Bitcoin is decentralized and no one can control on the market price and the fluctuation so I think in near future it has a potential to be our single currency and the USD will be replacement on currencies. Jump to: