Topic: Will Bitcoin replace Gold someday? - page 2. (Read 1298 times)

I agree with you Bitbunny. Both Gold and Bitcoin are assets, so it should be choice of an investor in which asset he will invest. There is no need to choose one in dispense for the other. On the other side, both are good for investment portfolio diversification. Right?

gold and bitcoin are two very different types and I can answer that bitcoin can never replace gold. gold has been one of the most promising and attractive investments for a long time and the price is quite stable. and today's gold investment does not have to be in physical form but can be in digital form

Both of them seem to be a save heaven and I don't think one can replace the other. Gold has been in existence for ages and has a huge market capitalization that will take years before BTC can compete with.  They both will co-exist and continue to be reconned with.

Gold will not lose its value until someone find a planet with full of gold, or it will when asteroid mining is possibly but now in reality it is not going to happen and it will never happen at least until I am alive.But it will bring change in the traditional banking system for sure and also government may consider cryptos as reserves instead of gold.

That's certainly true, mate. I don't think Bitcoin will ever replace Gold because of its many limitations and differences. For certain situations in life, you'd want to use Gold on top of Bitcoin. After all, the world's premier store of value has been long trusted by people worldwide. Bitcoin on the other hand, is just starting to blossom with a long road ahead of its way. There are many flaws adherent to Bitcoin not limited to scalability and privacy. While Bitcoin enjoys portability attributes, it's still way behind Gold in every way. With due time however, Bitcoin may be able to become as close as Gold depending on how its issues are fixed by developers and the community itself.

The ever-rising popularity of Bitcoin, should make it a highly-demanded digital store of value in the future. Comparing Bitcoin versus other cryptocurrencies on the market, it's one of the most limited digital assets in existence right now. Only 21 million coins will ever be mined. Every 4 years, Bitcoin's block reward is cut in half benefiting its price in every way. Still, Bitcoin's market cap is behind Gold by a long shot. Ultimately, people will hold both Bitcoin and Gold in order to protect their capital in times of turmoil. It all depends on a person's preference than anything else. Just my opinion

No, it won't. These two assets will co-exist together and in parallel.

You are right. Both are not same thing. We cannot compare these two things. Gold is a physical asset but Bitcoin is a cryptocurrency. May be in future bitcoin may replace fiat money. But it could not compare with gold.   Gold is not only expensive, it is also used as an ornament, many people use it as ornament or decoration.  so, we can never compare these two together.

Bitcoin can replace gold someday in term of prized if the world starting to recognize the used of bitcoin.. A big scale mass adoption will leed us to a new era of cryptos. Bitcoin still has a very long journey to catch up with gold market but still bitcoin show how rapidly the price can be pump up if the market trend are keep on his good track to beat gold.

Yes, this is a question that is raised on this forum at regular intervals. Of course, bitcoin cannot replace either gold or the currency of states. It was not created in order to replace any financial assets. It is intended to exist as an alternative means of payment along with the current system of means of payment. Therefore, gold will continue to exist, possibly for more than one millennium.

what is clear Bitcoin cannot replace gold,
gold does not know how long it will run out in the mine and with a value that is always stable, and Bitcoin with 21 million is created with a value that always fluctuates so it is impossible for people to think Bitcoin will replace gold

No, Bitcoin will never replace gold, first of all they are not the same, so one can not replace the other in any way or form. Gold is a physical asset that has been used as a form of money and status symbol for thousand of years, you cant wear digital assets around your body as jewelry. Also gold cant disappear, unlike your bitcoin in an emp event.

Hello!
This is all great, but you have to follow the trends. Gold passes / ends, bitcoin will always be.
Following trends is buying DeFi.

This is always discussed in this forum. Gold versus Bitcoin. They are both worthy with their prices. However, we should not think that bitcoin will replace gold because it becomes more valuable when time comes. It can be an option or added to our assets but ut can't replace gold. It is not been bought by the people only for investment. Some bought gold for means of luxury or desires. We should think the fact that not all people have the same mentality and always go with the trend. Having bitcoin and gold are enough, we should not always war between what is more valuable with them.

Maybe not in the short term, but over the years I'm sure it will. Gold is still an exhaustible mineral and bitcoin is booming, it is simply a matter of time (Years).

Exactly. Both assets are different from one another. They also have their respective advantages/disadvantages between them. In times where there's no Internet access or electricity, Gold proves to be a versatile store of value. It's trusted by many people worldwide, being in use for a very long time. Gold has an already-established market, whereas the crypto industry is just starting to blossom. While Bitcoin transactions cannot be settled offline, the fact that it's portable (unlike Gold) allows anyone to carry thousands or even millions of dollars (USD) without bringing unwanted attention. Bitcoin can be hidden in the smallest place you can imagine, making it a great alternative to Gold. But Bitcoin being much more volatile than Gold (AFAIK), scares away many serious investors looking to preserve their capital for the long term.

In the end, neither Bitcoin will be able to replace Gold or vice versa. I believe that Gold will end up being "tokenized" across various blockchain networks for the benefit of all. Custodians or companies will take the responsibility of storing physical Gold bullion for you, while giving you tokens in return (which are pegged to Gold's price). With a "tokenized" version of Gold, people can easily switch from BTC to Gold in an instant. We already have several companies offering "tokenized" Gold solutions. Which means that Gold won't be going anywhere despite Bitcoin's success in the mainstream world. Just my opinion

We all know that Bitcoin is just a currency in digital form and does not have any physical appearance whereas gold have both and is also used in making various things, most important is that it is being used from ancient times and still have a good future not like that any new type of currency could replace it so basically it is not possible presently or for a long period of time. Also, bitcoin is much risky as compared to gold as its value fluctuates rapidly and hence a new person feels scared to invest in cryptocurrency rather that traditionally used gold.

For an investor who is not bitcoin savvy, they will sell all bitcoins when they drop dramatically. Those who invest in gold will have the means to either hold them longer or sell them at a lighter loss than bitcoin. Bitcoin is risky, and not everyone is willing to put bitcoin in a portfolio. Maybe bitcoins are more stable if there is a mechanism governing them, but bitcoins are freely traded and vulnerable to news.

There're two major differences between Gold and Bitcoin.

1. Gold is physical. Bitcoin is digital. Being digital has a disadvantage. Bitcoin is just an idea. There's no "real" work to mine and transport it. This creates an illusion of ideal freedom. Bitcoiners gravitate towards doing nothing. It's a form of nihilism. With gold, people are inspired to explore new frontiers. They'll go to unknown places to search for gold. The next frontier to search for gold is in space. If the value of gold is high, people are incentivized. Mining gold in space can create new businesses.

2. Gold has inflation. This feature makes gold less volatile. It can be a more stable form of money.

These differences won't change. Bitcoin won't replace Gold.

Bitcoin price is still very unstable due to its high volatility so investing in it is really high risks. Gold on the other hand has always make an upward price every year so people would never hesitate investing in it. But once bitcoin will be fully adopted not just as an asset but also as an alternative payment system, it will be more convenient than gold i think.

I can believe bitcoin's price dropped from $ 20k to $ 3k within 1 year, but gold never happened. I think gold and bitcoin are two different assets and it is impossible to compare gold and bitcoin. Gold has been around for thousands of years and its value is determined over time. Bitcoin is a new and volatile asset. No country buys bitcoin instead of gold.