Bitcoin Forum

well


if you thought BTC will end up beeing the one world currency.. you might be wrong...

bitcoin started the whole new craze of digital computerized value exchance..


but the real value is the gate to new technology bitcoin opened.. and that is where most of the money is flowing..


ethereum and its tokens, iota, etc..

the technology behind all this new tech. is interresting.. and bitcoin will hold its place as a storage of secure wealth..

while other technololgies will be used as transacting value/service/goods etc..

so hodl your btc but be prepared for exchanging other tokens....

There are many comparisons made between bitcoin and gold.

Another comparison people might want to look into is stone money.

http://i63.tinypic.com/2cen7z4.jpg

People in some societies carve huge stone coins out of rock to represent their own brand of fiat. The immense quantity of work this process entails is similar to crypto mining processes which can be energy intensive.

The supply of rock coins being limited in terms of production provides a similar function to the number of crypto coins produced being limited by code.

There might definitely be some parallels there.

I still believe Bitcoin and Gold are quite different from each other. Where gold has intrinsic value and use as metal. Bitcoin doesn't has any intrinsic value and its price is highly dependent on demand. No demand is equal to no value whereas gold will still have value. Bitcoin's price driving factor is demand and speculation highly as there is not much utility. Whereas price driving factor for gold are many like worldwide jewelry and industrial demand, central bank reserves etc along with demand. Also, gold supply isn't limited, but Bitcoin's is.

like it or not bitcoin is NOT gold 2.0

obviously bitcoin will never become the world currency that everyone and every country adopts and uses. but that doesn't mean bitcoin is not a global currency which will become so popular someday that everywhere you look you can see it being accepted just like credit cards.

it doesn't have to replace them to become as big as them.

and no matter how much some people try to convince others that bitcoin is only store of value, it will never be that. and if someday it becomes store of value and loses the currency aspect, bitcoin would be as good as dead that day.

I guess this is topic number 1000 about comparing bitcoin and gold.
Anyway,your title is wrong.I would say that "blockchain technology is  gold 2.0" bitcoin would be nothing without
the blockchain.Nowadays,technology is gold,whoever owns the technology has the power to change the economy and even the human civilization.

I believe BTC being in a middle term between a currency and gold. You can compare them from both of the sides but still don't know where it belongs exactly. I believe that after all the coins are mined, thus more stability for BTC, we will get to know if it looks like a new currency fr the world, or like a stash of gold that you hold, and sell if you need some money!

Gold has a physical form and is a proven investment over many millennia. Bitcoin has no such history of credit. That alone does not give the right to compare these assets. Now do investments in bitcoin bring more income but no one knows how long it will last.

That's right, like it or not Bitcoin is Gold 2.0 but even better. Gold can actually be melted out and changed by having other metals put in it, thus messing with it's value. With Bitcoin you know there is 21 million and that'll never change.

I really don't think that bitcoin can be the world currency, and that the world will have one currency. Comparing bitcoin and gold is not appropriate. We cannot just compare these two things because they are not the same. In terms of the physicallity, bitcoin cannot be seen nor touched. Gold has history while bitcoin dont.

This not true, in fact the value of altcoins is heavily correlated with the value of Bitcoin and most of the altcoin volumes are in fact crypto volumes. So, fiat money is flowing mostly on BTC narket which makes BTC the most important cryptocurrency of all - whatever happens to it will translate into all other coins.



Altcoins are highly experimental, their use cases are ridiculously small and they are still being tested. A lot of them are just promises of the future as they are still in development phase. It may seem that Bitcoin is stagnant, but this is because Bitcoin developers hold stability as their primary value and any updates go live only after long testing periods - and this is why Bitcoin works so great, there are no critical bugs, no exploits and we don't have any emergency hard forks like many altcoins do.

I beg to disagree. Bitcoins isn't Gold 2.0 and never will be. Just because it carries and appreciate value over time doesn't mean it's comparable to gold. It might be the greatest investment of our time but certainly will not be favored by the elites to replace gold in term of stocking their riches. It also can't be a currency of a nation since a country cannot impose QE and other scams on it in case their economy flops and is on a brink of a destruction.

funny to hear that there is someone called bitcoin as Gold 2.0 or the 2nd version or gold. its actully not the 2nd version of gold, even its price is more valuable than gold, it is still not going to be the 2nd version of it.

I think you are right that Bitcoin will be used as a store of value in the future. It will gradually become harder to acquire so more people will probably just hold it. And because of the fees, people won't use it for small transactions. There are plenty of altcoins out there to do that especially Iota which has no fees. Bitcoin will most likely be used for larger transactions and to store savings and it will continue to increase in value as we approach the 21 million coin limit.

Yes I totally agree with you, most of my post I mentioned that Bitcoin will not be the future currency but it will be future / digital gold aka an asset to store wealth.
Bitcoin is perfectly designed to be used as a medium to store assets since it is designed to be deflationary / limited supply.
I predict that there will be another cryptocurrency that is going to replace our conventional cash, but surely Bitcoin will not replace our conventional cash but it will replace our conventional gold.

I tend to agree with this.  Gold can be held in your hand.  While a person may have a text string private key on paper in hand, the bitcoins transactions bound to it are somewhere else on computing hardware we don't have in our position.

I know it's a stretch but if the power gird or internet lines get whacked by solar flares etc. Electronic currency along with fiat bank accounts, stock bond records could all be gone.  Those with gold/silver will have protection.  So, there is a place for stocks, fiat cash and bitcoin in the percentages which makes up a diversified set which can hedger against possible events. 

Bitcoin has a place in my holdings but it does not take the place of my gold/silver holdings.

That's it - if you are concerned about future events then you should have both gold and bitcoin in your portfolio (plus shares and fiat). That's how you hedge against the unknown.

Bitcoin and Gold have a lot in common : scarcity, fractionability, intrinsic value ...

Bitcoin is the gold of cyberspace.

It has been already decided so long time ago that Bitcoin is gold nr 2. Of course I believe it too that bitcoin is gold 2.0 because bitcoin is great as store of value, the same for which gold is.We call it 2.0 because bitcoin can be kept safe easier than gold, we just need to read about security practices about storing bitcoins.

It's even better than gold. Gold has limited supply, but we don't know how much of it there's left. There are also ways of recycling gold from electronic components. It may happen that people find new faster ways to mine gold and flood the market, it also may happen that recycling becomes so efficient that we'll be able to recover a lot of gold from old stuff. With BTC you know what you're getting into and how much of it is left.

Comparing a digital asset to a real physical asset isn't right. I've been seeing a lot of people here discussing about this issue but this shouldn't be compared that bitcoin is a digital gold or gold 2.0. Before I was thinking about this and I keep on believing to myself that bitcoin is the new modern gold but I was wrong with it understanding that both has different characteristics but has similarities.

No, Bitcoin is not "Gold 2.0"... I have no idea where this notion comes from, but Bitcoin while being just like gold - is virtual! It is not physical, therefore it cannot be Gold 2.0. hahaha

I agree. Bitcoin is definitely gold 2.0 since its price always increase and the people always hold their bitcoin instead of spending bitcoin for any purpose. And all of those reasons have made bitcoin become Gold 2.0 without any doubt

This is true that bitcoin is the gold 2.0 because as you can see in gold that it has a few amount of supply also and as the time passes, the price of gold is going up and that is the same thing that happening in bitcoin. Every year, the price of bitcoin is going up and that is because of the low supply and the demand of adoption from all of the people and the countries that accepting it.

Even if it is virtual, we can say that bitcoin will be the virtual gold so I would rather call it crypto gold, since like gold, it is the most used asset to hold certain value on crypto and is used sometimes for hedging when all altcoin's market has become bearish. If I were OP though I wouldn't refer bitcoin as gold 2.0 but in a sense he is correct that bitcoin can somehow be the version 2 of gold.

I personally would not compare an electronic currency with a physical metal. However, to claim that bitcoin will hold its place as a storage of secure wealth is pure speculation.

The more famous Bitcoin will become, the more governments and banks will attack it, so I personally would feel more safe with not so well known coins like ETH.

I will agree with this that bitcoin is gold 2.0. Since bitcoin is being mined by computers as well as the gold that is also being mined by miners. Bitcoin has only limited amount of 21 million as well as the gold that has only limited amount also. And lastly the price of bitcoin is very high but unstable and in gold, also has a high price.

To be frankly I've never heard of the stone money before, Is it still being used nowadays?
Hmmm In my opinion the gold and other metals are in the physical world and of course its characteristics (e.g malleability ) is the one that gave them the value while bitcoin on the other hand is in the spectrum space and being mined by solving complex mathematical computation. They have similarity but I don't want to label crypto to gold or silver, they are on two different world. The present technology and society need crypto as a currency because of lots of benefits and the technology it holds and gold holds the material value in the physical world that is being admired and used in the industry that bitcoin can't be done but crypto is better when being used as a medium of exchange.

Here we go with the old 'bitcoin vs. gold' thing.  I'm happy with gold being gold, and bitcoin is what
it is.  They're two totally different assets, but they are very much the same...except bitcoin is far
more useful as a form of money.  You can send it anywhere in the world instantly (except when the
blockchain is congested) and you don't have to keep it locked up in a safe.  It's not heavy, and you
can't wear it around your neck or in your ears.

This discussion is a tired one, beat to death like QS's accusations against Lauda.  Call it gold 2.0, call
it whatever you like.  Crypto is an asset, just as gold is.  Let's move forward.

I believe and believe in the existence of Bitcoin.

Yes I like bitcoin and I also thought that bitcoin is a gold so I work hard at bitcoin because I think that bitcoin is my future, many man like bitcoin because bitcoin gave interesting profit and man will be interested to do work at bitcoin so I really like bitcoin.