Will Bitcoin replace Gold someday? | Bitcointalksearch.org

CarnagexD

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Quote from: 7788bitcoin on September 05, 2020, 04:28:37 PM

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Both of them have many advantages that can be utilized by many people, so that something that has enthusiasts in society will not be replaced and they will forever go together and of course will continue to grow because that is what will happen as a store of value.

The freedom of movement with bitcoin is the biggest advantage if you compare gold and bitcoin as a store of value. Gold is a dominant store of value for centuries and you can really trust them and that cannot be said about digitally created store of value in the eyes of many and that is hard to change,

I don't think of this much, about the replacement and all that stuff, what do you think of bitcoin? A messiah? that will just make gold and fiat disappear lol we still talking about the supposed to be replacement of stuff in here, what's worst is that you giving a full blind trust with bitcoin that is decentralized, uncertain and volatile. Is this what an asset should be? a 100 today then 0 tomorrow? I don't think so.

Quote from: 7788bitcoin on September 05, 2020, 04:28:37 PM

may be the next generation will consider differently.

Bitcoin was an addition, it may grew differently as what its name says 'currency' but it is what it is, an investment just like gold, a thing for storing of value. I agree, the next generation of people will consider these things differently, and I think they will just go with what's on them now.

7788bitcoin

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Both of them have many advantages that can be utilized by many people, so that something that has enthusiasts in society will not be replaced and they will forever go together and of course will continue to grow because that is what will happen as a store of value.

The freedom of movement with bitcoin is the biggest advantage if you compare gold and bitcoin as a store of value. Gold is a dominant store of value for centuries and you can really trust them and that cannot be said about digitally created store of value in the eyes of many and that is hard to change, may be the next generation will consider differently.

verita1

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I also don't think Bitcoin will replace gold. Although we see that both are playing an important role of safe haven assets. Bitcoin shows duality as a low-risk investment value and payment method. Gold has its own users forever. While Bitcoin belongs to the new generation.

Oppo57

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I think Bitcoin Will can't replace the gold. I believe that, Bitcoin price Will over the gold price. Bitcoin is very safe to carry you. You Bitcoin carry any where without any risk. But you carry gold you have so much risk.

Igor17Krik

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No never. Bitcoin will never replace gold. Much blood has been shed because of the gold. There were many wars and crimes. Gold is a thousand-year history!

Dana888

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Quote from: NVZNtoken on September 05, 2020, 08:20:33 AM

That's very unlikely, Bitcoin is similar to gold as a store of value and in many attributes is better than gold, but why would it replace it? Bitcoin and gold are very different, so bitcoin will coexist with gold just as gold coexists with silver. And besides, gold also has innate aesthetic value and gold jewelry will always be valued.

I think that there is also an aesthetic in bitcoin. For a programmer, beautifully written code is the same aesthetic beauty as gold jewelry for an ordinary person. Beautiful systems are always a delight. Bitcoin is also a beautiful system in itself and well deserves the title of aesthetic art. It's just that it's also practically useful

NVZNtoken

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That's very unlikely, Bitcoin is similar to gold as a store of value and in many attributes is better than gold, but why would it replace it? Bitcoin and gold are very different, so bitcoin will coexist with gold just as gold coexists with silver. And besides, gold also has innate aesthetic value and gold jewelry will always be valued.

aryadiningrat123

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in my opinion it is a very dangerous action if gold is replaced with bitcoin because the price of bitcoin cannot be confirmed by anyone so in my opinion it is very dangerous for those who do not understand bitcoin

Janation

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Quote from: Sapphire915 on September 05, 2020, 12:51:07 AM

Quote from: Fundamentals Of on July 24, 2020, 09:48:49 PM

Never. Bitcoin cannot replace Gold. We have to admit it. It may compete with Gold as a store of value and perhaps even become the preferred option for a short time but it will never replace Gold. Gold will always be gold. The preciousness of Gold is as old as civilization itself. And Bitcoin is not the one to make it worthless.

Absolutely right. Gold is gold and Bitcoin cannot replace it or any other crypto currencies. Their store of value can be compared but they are extremely different in all forms. This precious tangible metal (Gold) will remain its value as the years and even decades go by...I do believe that nothing can replace it.

Bitcoin may be able to outprice Gold, but as you said, gold will be gold.

A lot of known personalities in the investing and trading community put their full trust into Gold in terms of this manner. Bitcoin for most of the people are still doubtful and some even call it a scam. The possibility is still there, people are still debating but I think it will still be Gold and it will continue running until it doesn't want to like Forrest Gump.

Killrbit

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Quote from: Abiky on July 24, 2020, 09:17:01 PM

In these times of turmoil, Gold is reaching new ATHs in price. But Bitcoin doesn't leave behind, as it quickly recovered to its "pre-COVID" prices on the market. It's today where Bitcoin prices are relatively stable. With a limited supply of only 21 million coins, hardened security, and a focus on decentralization, Bitcoin is often viewed by many as the successor of Gold. One of Bitcoin's greatest benefits on top of Gold, is portability. You can virtually carry your Bitcoin with you safely when travelling, without anyone noticing. That's not the case with Gold, as you'd need to carry physical bullion with you. Other than portability, Gold and Bitcoin are very much alike.

Do you think that Bitcoin will be able to replace Gold someday? As we shift into the "intangible" world, people will "ditch" physical stuff in exchange for digital items. Bitcoin can become the new digital Gold which serves as a safe-haven asset (store of value) in times of need. COVID-19 will greatly encourage people to adopt Bitcoin over Gold as their next store of value of choice. Thoughts? Huh

I think it would be impossible for it to replace gold even in the distant future, yes it could compete with gold as a safe haven asset and store of value but replacing it seems a bit far fetched. While gold does not have the advantage of portability it had thousands of years of history behind it, furthermore bitcoin as it is today is still to volatile of an asset to act as store of value so even competing with gold would be difficult but i think the volatility subside and stabilize in the future.

HiringYou

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Just because of Bitcoin's portability,we can't say that Bitcoin will replace Gold in the future. According to me some benefits of one asset are not sufficient for it to replace another asset . I mean What about the demand and price pattern's? The sources of demand for Gold and Bitcoin are completely different. Gold is used by central banks, it is used in jewellery making and it is used as an investment asset on a large scale. On the other hand there is no such clear usage of Bitcoin.It is used as an investment asset only by those who are familiar with it's potential. In terms of price ,the price chart of Bitcoin is full of rise and drops due to it's volatility but in case of Gold, it is quite stable which makes it more reliable, trustworthy and acceptable than Bitcoin. No doubt that the adoption of Bitcoin is increasing but I don't think it will be possible for it to replace Gold.

ghost424

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I do not think that it can replaced since you cannot wear Bitcoin as an accessory right? You also mine Gold like literally by going undergrounds and straining water near gold mines. Bitcoin on the other hand made a name for itself digitally. They would surely coexist but Bitcoin replacing Gold is not possible. It might surpass its value but I think that's it.

btc78

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Quote from: Sirait on September 05, 2020, 01:54:07 AM

Quote from: Astvile on September 04, 2020, 05:02:40 PM

Surpassing gold maybe, but bitcoin totally replacing gold is a NO-NO. Bitcoin and gold are 2 very different assets bitcoin can go head to head on price and popularity with gold but bitcoin would never overpower gold. This has been discussed a lot of times already and the answer will be always NO. Both of them have their own market who can dominate so stop comparing these 2.

Surpassing the gold price is very possible but replacing gold is impossible. Gold is a precious metal that will always exist because it is a symbol of wealth for the general public.

not only because symbol of wealth and power but this Gold exist even before our ancestors ,this will live forever and will never be replaced as Precious metal

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Gold and Bitcoin cannot actually be connected because both are clearly different. trying to connect both is tantamount to trying to connect the sky and the ground.

One is Virtual while one is Physical.

But both precious and being dreamed By every people.

Beyerd17

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This thread should be closed as the question has been debunked and it's clear to all of us that Bitcoin will never replace gold, not now and not in the future. Personally I think it's a pointless question and is kind of like asking if cheese can ever replace bread. Please close this thread whoever started it.

Sirait

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Quote from: Astvile on September 04, 2020, 05:02:40 PM

Surpassing gold maybe, but bitcoin totally replacing gold is a NO-NO. Bitcoin and gold are 2 very different assets bitcoin can go head to head on price and popularity with gold but bitcoin would never overpower gold. This has been discussed a lot of times already and the answer will be always NO. Both of them have their own market who can dominate so stop comparing these 2.

Surpassing the gold price is very possible but replacing gold is impossible. Gold is a precious metal that will always exist because it is a symbol of wealth for the general public.

Gold and Bitcoin cannot actually be connected because both are clearly different. trying to connect both is tantamount to trying to connect the sky and the ground.

Sapphire915

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Quote from: Fundamentals Of on July 24, 2020, 09:48:49 PM

Never. Bitcoin cannot replace Gold. We have to admit it. It may compete with Gold as a store of value and perhaps even become the preferred option for a short time but it will never replace Gold. Gold will always be gold. The preciousness of Gold is as old as civilization itself. And Bitcoin is not the one to make it worthless.

Absolutely right. Gold is gold and Bitcoin cannot replace it or any other crypto currencies. Their store of value can be compared but they are extremely different in all forms. This precious tangible metal (Gold) will remain its value as the years and even decades go by...I do believe that nothing can replace it.

Anna138

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Quote from: Astvile on September 04, 2020, 05:02:40 PM

Surpassing gold maybe, but bitcoin totally replacing gold is a NO-NO. Bitcoin and gold are 2 very different assets bitcoin can go head to head on price and popularity with gold but bitcoin would never overpower gold. This has been discussed a lot of times already and the answer will be always NO. Both of them have their own market who can dominate so stop comparing these 2.

It is clear that bitcoin and gold have two different markets, but the value is determined only by the price to a greater extent. If bitcoin is more expensive than gold, so it is more valuable, why can't it be the first? I think that these are stereotypes about financial movements in principle. Everything is possible, but in long-term periods.

Astvile

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Surpassing gold maybe, but bitcoin totally replacing gold is a NO-NO. Bitcoin and gold are 2 very different assets bitcoin can go head to head on price and popularity with gold but bitcoin would never overpower gold. This has been discussed a lot of times already and the answer will be always NO. Both of them have their own market who can dominate so stop comparing these 2.

bitzizzix

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This topic has been discussed many times and the answers will remain the same, and obviously the only thing that makes gold superior to bitcoin is that it is around 3,000 years old and its price is stable and shaped.
and bitcoin is a digital currency that is only 11 years old and is a digital currency that is intangible but very valuable and has a very volatile nature where the price can change significantly and can exceed the price of gold and many other reasons.
and in my opinion bitcoin will not be able to replace gold because gold will never run out or disappear, like bitcoin which has a limited stock.

bpovtmg

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There is an excellent book that gives a really interesting perspective on Btc vs. Gold and another methods of value storage:

"The Bitcoin Standard: The Decentralized Alternative to Central Banking"
by Saifedean Ammous

https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central-ebook/dp/B07BPM3GZQ/ref=sr_1_1?crid=W1V85WWW7C9S&dchild=1&keywords=bitcoin+standard&qid=1599242692&s=digital-text&sprefix=bitcoin+sta%2Cdigital-text%2C295&sr=1-1

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Topic: Will Bitcoin replace Gold someday? (Read 1310 times)