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Bitcoin => Bitcoin Discussion => Topic started by: FinanciallyFreeFox on September 06, 2019, 08:32:10 PM



Title: Bitcoin Will Replace Gold! Here's Why...
Post by: FinanciallyFreeFox on September 06, 2019, 08:32:10 PM
Overtime I've researched what has made gold desirable as a store of value.

Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.

Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.

I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.

I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.

Please watch the video and let me know what you think. Thanks

https://youtu.be/UyaNJMxWmSU


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: kryptqnick on September 06, 2019, 09:47:13 PM
Gold is not just a store of value, some also consider it an investment opportunity. I'll explain how I find these two different. A store of value is something you can have something valuable in and then expect it to be more or less of the same value after some time passes. When investing money, however, you don't expect to have the same amount in the future, you want to have more, to make a profit. And I think that gold is a great store of value because it's fairly stable and low-risk. Bitcoin, on the other hand, seems like a way better investment, but it involves higher risks. So my point is that if you have $15k, and you want to save this money for your future adult children, gold might be a good option. If you want $15k, and you are willing to risk for the chance of having $150k in the future, then Bitcoin seems more suitable.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: FinanciallyFreeFox on September 06, 2019, 09:52:32 PM
Gold is not just a store of value, some also consider it an investment opportunity. I'll explain how I find these two different. A store of value is something you can have something valuable in and then expect it to be more or less of the same value after some time passes. When investing money, however, you don't expect to have the same amount in the future, you want to have more, to make a profit. And I think that gold is a great store of value because it's fairly stable and low-risk. Bitcoin, on the other hand, seems like a way better investment, but it involves higher risks. So my point is that if you have $15k, and you want to save this money for your future adult children, gold might be a good option. If you want $15k, and you are willing to risk for the chance of having $150k in the future, then Bitcoin seems more suitable.

I agree, gold is currently less volatile and more stable that BTC. This is partly because it has a much higher market cap.

Bitcoin is still very early, but I believe in the future when Bitcoin's market cap is much higher, the volatility will be reduced.

Once this happens, the only advantage that Gold has, is its application and tangibility. Bitcoin is superior in almost every other aspect.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: rodel caling on September 06, 2019, 10:52:12 PM
Nope even bitcoin is become to expensive I believe gold still valuable as investment in short keeping gold like bitcoin is profitable way how to get earn. But we know bitcoin and gold have an different rules as investment and asset bitcoin is a new form of money gold is isn't a money is pure investment.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: kawetsriyanto on September 06, 2019, 11:23:57 PM
Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

As it is limited, it will have increasing value in the future. Many said that gold is the best investment as its value will not probably decrease because this is not volatile. Limitation of the gold doesn't mean that it will have less value, it is the opposite, they will have a higher value.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

Well, I also believe that Bitcoin has great value and it will have increasing value in the future, BTC has many benefits and advantages. But, I still wonder in that case it will surpass the gold? I think that both BTC and gold are something very worthy to invest both.

In case, both gold and BTC have their own upsides. But, they also have their own value based on their own characteristics. For me personally, I love investing in both BTC and gold.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: rdluffy on September 07, 2019, 12:05:40 AM
We have to understand we are in a middle of something, in a transiction between old habits and new technologies and this is very hard to accept and understand fully
Gold probably will be replaced, with time. And even BTC will be replaced for something new and better, maybe we will be talking about something new to replace BTC in a few years...

It's crazy, but everything changes, and gold will change to


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: tanchianjun on September 07, 2019, 02:43:21 AM
Overtime I've researched what has made gold desirable as a store of value.

Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.

Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.

I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.

I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.

Please watch the video and let me know what you think. Thanks

https://youtu.be/UyaNJMxWmSU

I don't think bitcoin will send gold to oblivion. Both bitcoin and gold will co-exists together. There will be a market for both of them.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: pooya87 on September 07, 2019, 03:31:19 AM
you shouldn't even be comparing bitcoin and gold because they have nothing in common and not in the same category for one to replace the other. bitcoin is a currency and gold is many things but not a currency. gold will remain as it is as long as it keeps its use cases which it will. and bitcoin, as a separate and entirely different thing will grow only as long as it is offering what it is suppose to, meaning a decentralized secure payment system that is censorship resistant.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Argoo on September 07, 2019, 03:48:30 AM
We have to understand we are in a middle of something, in a transiction between old habits and new technologies and this is very hard to accept and understand fully
Gold probably will be replaced, with time. And even BTC will be replaced for something new and better, maybe we will be talking about something new to replace BTC in a few years...

It's crazy, but everything changes, and gold will change to

No, gold was, is and will be gold, an indispensable means of storing value, a measure of value and a means of payment. New technologies will only push him out of the market a little, but he will save his main positions. Bitcoin has many advantages, but it also has disadvantages, and above all, its high price volatility. New technologies also depend on the availability of the Internet, a power source, the need to interact with other technical means and the availability of these technical means as a means of ensuring payment. Especially these shortcomings will manifest themselves during various disasters and then people will again be drawn to gold.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: hardcores on September 07, 2019, 03:48:36 AM
any statement stating bitcoin will replace gold I don't think it will be possible because gold and bitcoin already have physical differences that are certain people have chosen something that has a physical and high selling value because it is difficult to obtain.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: MonsterV on September 07, 2019, 04:52:05 AM
It is not possible, gold is very different from bitcoin, gold is not same as fiat, it might be equivalent but it is not same so gold, fiat and bitcoin cannot be categorized together and replaced with each other. Gold has had a value of hundreds of years and it cannot be replaced by anything, more technology develops, gold will still be there because its needs increase with technology. They will coexist, maybe it will be replaced but it is still very long and it takes thousands or tens of thousands of years to replace this existing system.



Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: maydna on September 07, 2019, 04:55:20 AM
Well, I don't have any perception about bitcoin will replace gold. I would prefer to see bitcoin and gold work by their way as the investment for people. And now, with bitcoin and gold, we have the opportunity to make a lot of money from both and bitcoin is not yet reach the very highest price because it is too volatile from time to time. But we cannot compare bitcoin and gold because it is different but in the same purposes to give a chance to people to make money.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: hatshepsut93 on September 07, 2019, 05:34:37 AM
If Bitcoin is so much better than gold, why it didn't surpass gold already? It's been 10 years since it was created, and adoption as a currency or as store of value is still very low - most people view it as a speculative asset. In the past some technologies took long time to get mass adoption, but this is because they needed a lot of improvements before the wider population can use them - this is not the case with Bitcoin, it's protocol is unlikely to see any major changes that would radically reshape it. So, why is Bitcoin not as popular as gold yet?


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: davis196 on September 07, 2019, 05:39:40 AM
You are kinda right about the ease of access of btc vs. gold and the other stuff,but for the average Joe,gold is and always will be the ultimate store of value.The average Joe,who isn't tech savvy simply can't understand how the blockchain works and he will never trust bitcoin,because btc is like thin air for him,while gold can be touched. ;D


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: tranthidung on September 07, 2019, 05:59:58 AM
you shouldn't even be comparing bitcoin and gold because they have nothing in common and not in the same category for one to replace the other. bitcoin is a currency and gold is many things but not a currency. gold will remain as it is as long as it keeps its use cases which it will. and bitcoin, as a separate and entirely different thing will grow only as long as it is offering what it is suppose to, meaning a decentralized secure payment system that is censorship resistant.
With the growth of bitcoin, crypto currencies, blockchain technology and more widely acceptance of crypto currencies globally, bitcoin will have better position in global financial areas. Bitcoin is a volatile asset, yes, but as we all witnessed so far, bitcoin has gradually become a new reliable channel when wars, conflicts occur.

I agree that there is no common thing between Gold and bitcoin, and they actually have different customer populations too. The elderly will have difficulty to assess term of crypto currencies, bitcoin, wallets, and more things, so bitcoin has still been more favorite by younger-generations. The elderly, includes investors will stick with Gold, but the young investors might prefer bitcoin, instead of Gold.

Generally, both Gold and Bitcoin will do exist together in human civilization.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Ausgewielt on September 07, 2019, 08:20:22 AM
I think it will be good if we make bitcoin and gold a complementary investment portofolio. Actually gold has better investment properties in some cases compared to bitcoin, and vice versa. Many investors pretend bitcoin as speculative investment which give bigger size of opportunity for investors to gain profit rather than gold. Gold price movement are more stable with a proven track record. Based on statistic data throughout the year, bitcoin strengthening around 206.59% against the US dollar while Gold strengthening around 10.88% . Bitcoin seems better than gold this year, but bitcoin also made many people complained about financial loss on 2017.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Wind_FURY on September 07, 2019, 08:27:57 AM
OP gold and other metals are their own market. Bitcoin and other cryptocurrencies are also their own market. There's no replacing of one for the other, because each has its own niche in society.

Then why not "Bitcoin will co-exist with Gold"? I believe the market share of one will grow, and the other contract, and back again depending on market cycles.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: FinanciallyFreeFox on September 07, 2019, 09:06:26 AM
The average Joe,who isn't tech savvy simply can't understand how the blockchain works and he will never trust bitcoin,because btc is like thin air for him,while gold can be touched. ;D

I think the younger generations will see Bitcoin as the natural choice for them. They were born into a digital world. Gold will seem more like an alien and senseless object to them.

If they can't engage with it using their smartphone, they won't be very interested in it.


If Bitcoin is so much better than gold, why it didn't surpass gold already? It's been 10 years since it was created, and adoption as a currency or as store of value is still very low

It will take time for the education to take place.

It will take time for the market cap to grow.

And it will take time for the younger generations to become of age where they will begin investing in Bitcoin, instead of Gold.


But we cannot compare bitcoin and gold because it is different but in the same purposes to give a chance to people to make money.

you shouldn't even be comparing bitcoin and gold because they have nothing in common and not in the same category for one to replace the other. bitcoin is a currency and gold is many things but not a currency.

A few important things to consider here:

1. Gold was a currency, but now is not a currency. It lost that status to promissory notes, and then they lost to fiat currency. So Gold can lose its foot-holding.
2. Bitcoin is not just a currency, it is a store of value, and is currently primarily used as a store of value. It will be used more as a currency in the future when the volatility stops. 
3. Bitcoin offers most of the advantages that Gold has, e.g. a high stock to flow ratio. So they do have a lot in common, and they have the same purpose. Bitcoin is superior in many attributes, except its utility as a metal.


I don't think bitcoin will send gold to oblivion. Both bitcoin and gold will co-exists together. There will be a market for both of them.

Yes I think they will co-exist for a long time.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: FinanciallyFreeFox on September 07, 2019, 09:12:28 AM
OP gold and other metals are their own market. Bitcoin and other cryptocurrencies are also their own market.

The thing is though that if Bitcoin eventually fulfills the objective of Gold - a stable store of value - then why would someone buy Gold?

People buy Gold, not because it is shiny, but because it holds its value compared to fiat, which has inflation.

If Bitcoin can offer this at a superior level to Gold (when Bitcoin eventaully has a higher Stock to Flow Ratio) then people will likely start opting for Bitcoin instead.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: killat on September 07, 2019, 09:20:58 AM
It is all about offer and demand. Today everyone wants gold, as having hold offers you the stability of having a non-volatile asset and also the possibility to create your own jewelry if passionate about it.

To become a virtual gold Bitcoin needs a mass adoption. It is limited, secure, it start to have more and more use cases, so there is a good potential to become a virtual gold in the future.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Wind_FURY on September 07, 2019, 10:23:24 AM
OP gold and other metals are their own market. Bitcoin and other cryptocurrencies are also their own market.

The thing is though that if Bitcoin eventually fulfills the objective of Gold - a stable store of value - then why would someone buy Gold?

People buy Gold, not because it is shiny, but because it holds its value compared to fiat, which has inflation.

If Bitcoin can offer this at a superior level to Gold (when Bitcoin eventaully has a higher Stock to Flow Ratio) then people will likely start opting for Bitcoin instead.


I believe each market will have its own niche in society. Gold found its niche, Bitcoin will too. But I don't believe one will kill of the other because the other one is "better", liquidity will only shift from Gold to Bitcoin, and Bitcoin to Gold cyclically.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: leea-1334 on September 07, 2019, 10:32:52 AM
OP does have a few good points but the research falls into the weakness of many past research just like this,,, and therefore will not get the right attention. Studies must need to be really well cited with solid verifiable citations. This is the basic scientific methods that simple academic studies implement. Until we can do that for Bitcoin, let us not try fill the space with more such videos,,,


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Leonardo7 on September 07, 2019, 11:23:06 AM
Gold is less volatile, and the conservative investors will always go for gold as a store of value and investment. If the world adopts bitcoin, then the price will be more stable and quickly bring a return on investment, and the people of the world will have no option than to follow bitcoin not totally leaving gold behind.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: FinanciallyFreeFox on September 07, 2019, 11:28:59 AM
OP does have a few good points but the research falls into the weakness of many past research just like this,,, and therefore will not get the right attention. Studies must need to be really well cited with solid verifiable citations. This is the basic scientific methods that simple academic studies implement. Until we can do that for Bitcoin, let us not try fill the space with more such videos,,,

Thanks. At the end of the day, they are ideas, not fact.

And ideas don't necessarily need to be backed by science. They're just ideas.  

I think it's useful and even enjoyable to consider the possible outcomes. There is no harm in considering, and being aware of what may be possible.

When Bitcoin was first created, not many people predicted that it would get this far. Part of the reason for this, is that they were afraid to think big, and even consider that possibility.

I think you are correct though, the video is very basic and needs more precise and clear solid facts to back the points.

I appreciate you watching - the reason I create videos is to share ideas; see how they stack up; get feedback on them; and see if people are thinking the same way, or, differently.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: whtchocla7e on September 07, 2019, 12:29:28 PM
Gold is more than just a sum, it represents wealth, elegance, and beauty. Bitcoin cannot replace it, most people in the world are not aware of blockchain technology, bitcoin. Bitcoin has a strong volatility that is not suitable to replace gold. So this cannot happen in the future.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: taratorly on September 07, 2019, 12:41:18 PM
Overtime I've researched what has made gold desirable as a store of value.

Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.

Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.

I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.

I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.

Please watch the video and let me know what you think. Thanks

https://youtu.be/UyaNJMxWmSU

It wasn't a day before people started caring for gold. Silver was still a precious mine until people trusted gold. And gold's value surpassed silver. Who knows, in the future, Bitcoin moves faster than gold.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Jet Cash on September 07, 2019, 03:01:58 PM
Bitcoin will never replace gold, they are in totally different asset classes. You might just as well say water will replace air, both are essential to life, and they will continue to co-exist.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: longtkhd on September 07, 2019, 03:44:52 PM
Gold is just a way for us to store our assets, Bitcoin can completely replace it in a future okay, but the stability and hard value of gold is still helping it win the trust of everyone.Hopefully the growth of bitcoin will be faster to gradually replace gold.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: coinycoiny on September 07, 2019, 03:54:09 PM
Once upon a time people thought tulips were a better investment than gold.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: nicecrypto on September 07, 2019, 06:15:27 PM
Even if this where to be true, I think it will be limited to those who are using btc for one reason or another, there are other category of people who gold are still very valuable to are will continue that way for as long as they exist, those people who wear gold accessories will always value gold come what may.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: esofelap on September 07, 2019, 08:44:47 PM
First of all, a half of topicstarter's words are just future targets. For today's moment the BTC usability is too low.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Youghoor on September 07, 2019, 10:45:02 PM
Overtime I've researched what has made gold desirable as a store of value.

Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.

Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.

I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.

I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.

Please watch the video and let me know what you think. Thanks

https://youtu.be/UyaNJMxWmSU

I don't really think you understand the main ideology and purpose of bitcoin. If you do, you will never say that bitcoin is gonna replace Gold. Bitcoin was not developed to be an investment entity but it was meant to be an alternate form of physical currency which has no central body controlling it and provide a peer to peer environment for people to transact business with lesser charges.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: nabilapimpo on September 07, 2019, 11:05:58 PM
Bitcoin compared to gold, I think each of them has advantages and disadvantages. For long-term investments, gold will not give a big advantage, because the selling value is stable. Although Bitcoin is unstable, it is capable of generating great profits, even if you are using small capital.

Gradually people will see the potential owned by Bitcoin. They will also switch to Bitcoin because in this digital era people want instant gains. So Bitcoin is the right solution to invest.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: squatter on September 07, 2019, 11:24:56 PM
you shouldn't even be comparing bitcoin and gold because they have nothing in common and not in the same category for one to replace the other. bitcoin is a currency and gold is many things but not a currency.

They have more in common than meets the eye. Both gold and bitcoins are commodities (https://en.wikipedia.org/wiki/Commodity) as conventionally defined. More specifically, they could also both be considered commodity money (https://en.wikipedia.org/wiki/Commodity_money) -- as opposed to fiat money. After all, gold-money has served the function of currency for thousands of years. Bitcoin as a currency is actually much more immature.

Gold has other uses of course, although "money" (store-of-value, medium-of-exchange) is obviously the primary one. The OP is specifically talking about the store-of-value use case.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Ridwan Fauzi on September 08, 2019, 01:47:24 AM
The intention of Satoshi Nakamoto to create bitcoin at 2009 ago is just for to make the payment system become easy. Which is mean he was created that bitcoin only for payment system and replace the function of money fiat. And I think he has succeeded in making this happen especially for the payment system which is make in different countries also to send money for those people in different countries.

But, since bitcoin price is depend on supply and demand which is mean depend on the user itself the price of bitcoin is really volatile and can make its price get through the value of gold. So, many people are consider that bitcoin is really have a function then bitcoin. Because bitcoin have two function that doesn't have by gold. I never seen there is some people who use gold as payment system although its price really stable.

But it will takes a long time to make bitcoin be trusted by all people on this world be like they sees gold. And I think that is just a matter of time and we will see that happen.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: jake zyrus on September 08, 2019, 02:55:36 AM
I don't think bitcoin will replace gold because bitcoin is bitcoin, gold is gold. The two of them both have value, gold is physical while bitcoin is digital. In the modern world, we may become dependent on the technology but I don't think gold will lost or lessen its value. Gold is from the nature itself and is also limited, man didn't make it unlike bitcoin, and in the future, it'll be hard to mine gold that would make it more valuable. While bitcoin may be volatile but it's also a good way of investment if you're planning to hold it for like 1-5 years. But if you're planning to pass something to your grandson, gold is good.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: peter0425 on September 08, 2019, 03:41:30 AM
You are kinda right about the ease of access of btc vs. gold and the other stuff,but for the average Joe,gold is and always will be the ultimate store of value.The average Joe,who isn't tech savvy simply can't understand how the blockchain works and he will never trust bitcoin,because btc is like thin air for him,while gold can be touched. ;D
But that perception won’t last a lifetime mate yeah for now  average joe will choose gold over Bitcoin but things will change eventually and actual time after time there are more and more people worldwide are adopting and investing in crypto so it won’t take more than 10 years for this thing to finally happen .and I believe that when people had realized what do why bitcoin created fo sure they will changed mind from gold to crypto


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: bryant.coleman on September 08, 2019, 04:06:23 AM
Bitcoin has its own place in the portfolio of investors, and gold has its own separate space. We don't need to compare these two assets, as they are very different from each other. You can argue that Bitcoin is capable of replacing fiat cash or equities, but I wouldn't go ahead and claim that it is going to replace an asset such as physical gold.

Gold is being used by humans as an investment asset for the past thousands of years. None of the central bank issues assets, including treasury bonds or banknotes have managed to poach on its market share. The same goes for Bitcoin as well. As it is a digital asset, in future Bitcoin will be replaced by some other asset. But gold will always be there, irrespective of the technological advances.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Burogh on September 08, 2019, 04:23:02 AM
I don't think bitcoin will replace gold because bitcoin is bitcoin, gold is gold. The two of them both have value, gold is physical while bitcoin is digital. In the modern world, we may become dependent on the technology but I don't think gold will lost or lessen its value. Gold is from the nature itself and is also limited, man didn't make it unlike bitcoin, and in the future, it'll be hard to mine gold that would make it more valuable. While bitcoin may be volatile but it's also a good way of investment if you're planning to hold it for like 1-5 years. But if you're planning to pass something to your grandson, gold is good.

I agree, for many people, Gold is more attractive than Bitcoin. Gold has been proven for thousands of years as a safe haven asset while for many people Bitcoin is a speculative asset that has no underlying. In my opinion, Bitcoin and Gold will go hand in hand as an investment for many people


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Tylev on September 08, 2019, 04:52:22 AM
Bitcoin or other types of cryptocurrencies will never replace gold. Cryptocurrency cannot replace the usual fiat payment system either. By its nature, it can be used only along with the national money of states and was created as an alternative payment system to the existing payment systems.
It should be noted that cryptocurrency and electronic non-cash types of payments are completely dependent on the Internet and technical means of receiving and transmitting data. With various cataclysms, there is a real threat of their failure and then a financial collapse ensues, people will again switch to a direct exchange of goods, that is, to barter transactions. Therefore, all payment systems must work simultaneously.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Dr.Osh on September 08, 2019, 05:09:01 AM
Bitcoin has its own place in the portfolio of investors, and gold has its own separate space. We don't need to compare these two assets, as they are very different from each other. You can argue that Bitcoin is capable of replacing fiat cash or equities, but I wouldn't go ahead and claim that it is going to replace an asset such as physical gold.

Gold is being used by humans as an investment asset for the past thousands of years. None of the central bank issues assets, including treasury bonds or banknotes have managed to poach on its market share. The same goes for Bitcoin as well. As it is a digital asset, in future Bitcoin will be replaced by some other asset. But gold will always be there, irrespective of the technological advances.
basically gold has become a very valuable asset of the past. in fact, it can be said that gold and silver are the reasons for today's economic civilization. we know that all fiat has value because fiat is backed up with gold.

currently, bitcoin is measured in dollars or fiat, and fiat is measured in gold/silver. I can't imagine what if bitcoin replaced gold. in addition, the most important thing is, gold and bitcoin are 2 different types of investments.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Wind_FURY on September 08, 2019, 05:55:27 AM
Bitcoin will never replace gold, they are in totally different asset classes. You might just as well say water will replace air, both are essential to life, and they will continue to co-exist.


I blame some of the extreme maximalists who force the idea that Bitcoin is literally "digital gold" online. It is not. Although store of value is acceptable, literally "digital gold" is not in my opinion.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: AjithBtc on September 08, 2019, 07:24:55 AM
Bitcoin will never replace gold, they are in totally different asset classes. You might just as well say water will replace air, both are essential to life, and they will continue to co-exist.


I blame some of the extreme maximalists who force the idea that Bitcoin is literally "digital gold" online. It is not. Although store of value is acceptable, literally "digital gold" is not in my opinion.
Agreed, already there is digital gold which is just the digital way of backing gold. People used to misinterpret bitcoin with digital gold. This is all because of the lack in proper understanding. Even now we've got few projects that are tokenised accumulating gold as the backing asset along with the technology.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Herbert2020 on September 08, 2019, 07:30:35 AM
Bitcoin will never replace gold, they are in totally different asset classes. You might just as well say water will replace air, both are essential to life, and they will continue to co-exist.


I blame some of the extreme maximalists who force the idea that Bitcoin is literally "digital gold" online. It is not. Although store of value is acceptable, literally "digital gold" is not in my opinion.

it is the new way of thinking that came from all the rises that have happened so far. people start thinking of bitcoin as a pure investment that is going to give them "fiat" profit. 2017 specially intensified this way of thinking.
the good news is that as the bubble burst of 2017 and the long bear market happened most of these people went away and the way of thinking dwindled.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: FinanciallyFreeFox on September 08, 2019, 09:26:50 AM
Gold and Bitcoin have their own segments. Gold investors are usually people who do not understand or are skeptical of cryptocurrency

But what will happen when the future generations who understand Bitcoin replace the people who do not understand Bitcoin


I don't really think you understand the main ideology and purpose of bitcoin. If you do, you will never say that bitcoin is gonna replace Gold. Bitcoin was not developed to be an investment entity but it was meant to be an alternate form of physical currency which has no central body controlling it and provide a peer to peer environment for people to transact business with lesser charges.

Bitcoin is whatever you make of it. It's owned by the people, so the people decide what it is used for, not the creator.

Bitcoin gives people the ability to be their own bank, to store their own value. So it is a store of value.

Gold is a store of value. If Bitcoin eventually is seen as a more convenient and accessible store of value then it is possible that Gold will lose market cap to Bitcoin.

This has happened historically when Silver became easier to transact with than Gold, and then it switched back to Gold when countries began moving to the Gold standard. We are now off the Gold standard.

Maybe we will move to the Bitcoin standard?


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Red-Apple on September 08, 2019, 09:29:18 AM
Gold and Bitcoin have their own segments. Gold investors are usually people who do not understand or are skeptical of cryptocurrency

But what will happen when the future generations who understand Bitcoin replace the people who do not understand Bitcoin

for bitcoin to be adopted more it doesn't have to replace anything specially not something like gold!
if your arguments were about bitcoin replacing banks and traditional financial systems then your arguments would have made more sense compared to now that you are insisting on comparing bitcoin with something that doesn't even fall under the same category as bitcoin (ie a currency).


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: migws on September 08, 2019, 10:22:47 AM
I believe that Bitcoin and gold should not be compared. Understand that gold is a physical asset and Bitcoin is a digital one. Both of them are used to store of value. However, I am sure that no matter how crypto develops, gold will always be a valuable asset. Understood, physical assets are more usable than digital ones, and this should fundamentally distinguish them.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: virasisog on September 08, 2019, 03:12:55 PM
i can agree to this and will be possible in the future , just for the reason that the generation of today are extremely expose with the technology and economy digitally. Bitcoin is more accessible by them than gold. As computers replaced typewriters so as Bitcoin will replace  gold and fiat.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: noormcs5 on September 08, 2019, 05:59:40 PM
I don't think bitcoin will replace gold because bitcoin is bitcoin, gold is gold. The two of them both have value, gold is physical while bitcoin is digital. In the modern world, we may become dependent on the technology but I don't think gold will lost or lessen its value. Gold is from the nature itself and is also limited, man didn't make it unlike bitcoin, and in the future, it'll be hard to mine gold that would make it more valuable. While bitcoin may be volatile but it's also a good way of investment if you're planning to hold it for like 1-5 years. But if you're planning to pass something to your grandson, gold is good.

I agree, for many people, Gold is more attractive than Bitcoin. Gold has been proven for thousands of years as a safe haven asset while for many people Bitcoin is a speculative asset that has no underlying. In my opinion, Bitcoin and Gold will go hand in hand as an investment for many people

I do not believe that gold is more attractive as compare to bitcoins. People who invests in bitcoin and those who invest in gold are of different mentality.
Mostly young generations like bitcoin because it is digital currency and you can gain more profit from it in the short term. On the other hand, Gold investment is mostly done by the older generation as they feel that Gold is stable and reliable.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: serjent05 on September 08, 2019, 07:08:14 PM
you shouldn't even be comparing bitcoin and gold because they have nothing in common and not in the same category for one to replace the other. bitcoin is a currency and gold is many things but not a currency. gold will remain as it is as long as it keeps its use cases which it will. and bitcoin, as a separate and entirely different thing will grow only as long as it is offering what it is suppose to, meaning a decentralized secure payment system that is censorship resistant.

I believe gold were once used as money/currency in the market being traded by mere merchants in buying stuffs until the invention of paper money that is backed by gold reserves.  There are characteristics between gold and Bitcoin that is comparable but  I agree with you in not comparing the two.  Gold will be gold and stay as it is and Bitcoin will always be Bitcoin and function the way it is intended to be.  Bitcoin will never replace gold's usage the same way gold to bitcoin.  In addition, is it possible to see a nations currency be backed by Bitcoin reserved?


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: qwertyup23 on September 08, 2019, 08:27:26 PM
<snip...>

You are overlooking what essential distinction between gold and bitcoin which makes them both irreplaceable. Gold is an actual/tangible material that was naturally produced and formed on Earth. Due to being highly-sought as a luxury and as an excellent store of value for investment, this precious metal has been skyrocketing its price over the years.
On the other hand, bitcoin has been around only for a couple of years but it has been one of the most controversial investment due to its high-volatility and decentralized in nature.

People always compare and contend that bitcoin is the digital gold of the era. Their similarities in price, usage, and supply are undisputed but what makes them distinct is their very nature. Gold will always have an intrinsic value due to being a precious material/metal but bitcoin solely exists on the internet.



Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: 1Referee on September 08, 2019, 09:35:41 PM
People always compare and contend that bitcoin is the digital gold of the era. Their similarities in price, usage, and supply are undisputed but what makes them distinct is their very nature. Gold will always have an intrinsic value due to being a precious material/metal but bitcoin solely exists on the internet.

Fair point. I have toned down a lot lately with my anti Gold narrative just for that reason. It has very strong properties that many people here tend to overlook because they are just focusing on the aspects they care about, and not so much on the aspects that make Gold be profoundly different from Bitcoin.

Another thing is that if people are truly honest to themselves, there isn't all that much about Gold that you can doubt because it has proven itself in almost every facet, while Bitcoin is still in its infancy as asset and has a lot to prove in the forthcoming decades. Gold will never be a worthless piece of metal, that's a fact. Thousands of years of empirical evidence support that claim.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: erricducducan26 on September 08, 2019, 10:51:18 PM
Hmm there is a point


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: ethereumhunter on September 09, 2019, 05:20:19 AM
But there is a huge difference between gold and bitcoin. The price is increasing as the time passed. Yet, the bitcoin is flactuating and inflating because it is volatile. Gold can be used as a pure investment but bitcoin wasn't created for that purpose. It is just a plus factor that it can be considered as a digital asset but it's main purpose is the blockchain technology. I may say bitcoin can never replace gold bec. Of those reasons.

I think if you want to make a fast profit, you can choose bitcoin because the price is up and down every day. So you can expect to make a lot of money from bitcoin. Although gold can give you more money, the gold price does not fluctuate as bitcoin, and if the gold price increases, the increases will not be like bitcoin. But I don't think that bitcoin will replace gold since many people out there still prefer to use gold for their investment so maybe they will always choose gold as their primary investment.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Wind_FURY on September 09, 2019, 07:38:59 AM
Bitcoin will never replace gold, they are in totally different asset classes. You might just as well say water will replace air, both are essential to life, and they will continue to co-exist.


I blame some of the extreme maximalists who force the idea that Bitcoin is literally "digital gold" online. It is not. Although store of value is acceptable, literally "digital gold" is not in my opinion.
Agreed, already there is digital gold which is just the digital way of backing gold. People used to misinterpret bitcoin with digital gold. This is all because of the lack in proper understanding. Even now we've got few projects that are tokenised accumulating gold as the backing asset along with the technology.


No. That's your opinion, not mine.

Calling Bitcoin a form of "digital commodity" is OK, or an attempt to a provably scarce asset for the internet. But calling it "digital gold" that will replace gold, no.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: hotmom on September 09, 2019, 10:23:15 AM
Replacement gold? Hardly. I would rather believe that they will find a new precious metal on Mars and replace gold with it. And bitcoin is needed for another purpose


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: suvo05 on September 09, 2019, 11:58:28 AM
On the basis of which reason you are telling like that. BTC and Gold are completely different thing in every aspect. One thing is common that both are tradable. None of them is going to replace each other.

Replacement gold? Hardly. I would rather believe that they will find a new precious metal on Mars and replace gold with it. And bitcoin is needed for another purpose
This is also impossible, have you imagine how much it would cost to establish a miner outside the earth :o


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: conected on September 09, 2019, 12:15:07 PM
But there is a huge difference between gold and bitcoin. The price is increasing as the time passed. Yet, the bitcoin is flactuating and inflating because it is volatile. Gold can be used as a pure investment but bitcoin wasn't created for that purpose. It is just a plus factor that it can be considered as a digital asset but it's main purpose is the blockchain technology. I may say bitcoin can never replace gold bec. Of those reasons.

I think if you want to make a fast profit, you can choose bitcoin because the price is up and down every day. So you can expect to make a lot of money from bitcoin. Although gold can give you more money, the gold price does not fluctuate as bitcoin, and if the gold price increases, the increases will not be like bitcoin. But I don't think that bitcoin will replace gold since many people out there still prefer to use gold for their investment so maybe they will always choose gold as their primary investment.
- Agree, without the replacement of gold, the highest can only be competition and attract investors from gold, it is difficult to completely replace because investors' goals and choices are based on many different criteria, they will consider each investment, from favorable to difficult, to sum up to choose the right investment for them. A person will like gold when it's safe and stable, even honoring their nobility, some other investors will like bitcoin when they are new, they see the opportunity created by bitcoin, high risk and great return, this is the risk to change.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: yazher on September 09, 2019, 01:01:51 PM
Not really replacing gold but Bitcoins will become one of the permanent currency in the near future and its volatility will be no longer there maybe it stops from the higher price and from there, we will be no longer see the sudden drop of its price like the golds.

Gold cannot be replace because it was there a long time ago before bitcoin become known to us.



Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: thisappointed on September 09, 2019, 01:39:35 PM
Overtime I've researched what has made gold desirable as a store of value.

Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.

Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.

I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.

I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.

Please watch the video and let me know what you think. Thanks

https://youtu.be/UyaNJMxWmSU

Bitcoin is the new trend in this new age, and gold is the old fashion, in my opinion. People nowadays will not invest in Gold, let me tell you why. If you are going to invest in gold, you will need a vault for that to keep it safe, unlike bitcoin, you just need a hardware wallet to keep it, less hassle and more safe than having a gold in your house, don't you agree. Another thing is investing in Gold is like putting your money in banks, it is going to take some time before you make profits on it, unlike in Bitcoin, prices are spiking every single time.

Even though the market for now is in bearish market, when it hits the bull runs, your profits will be huge and what more if you store more than 1 bitcoin.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: elisabetheva on September 09, 2019, 02:37:39 PM
Two things that are very different and clearly have their own share between bitcoin and gold. gold has long been used as an investment that is still running, not with the presence of bitcoin gold will be eliminated. bitcoin is indeed a very tempting investment for now, but it is not sure that it will replace gold.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: thecryptogandalf on September 09, 2019, 03:38:14 PM
I do not find reasonable to compare Gold and BTC. Because both of them have their own pros and cons. Why do we need to choose only one of them? BTC still needs time and needs to complete it`s adoption process from the perspective of liquidity and stability. It depends on person`s own perspective like what he or she actually expecting from both by buying BTC or Gold as a store of value. I don`t think there is a clear answer for this topic. Gold is existing for years and I don`t think it is going to be replaced quickly.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: manok jepang on September 09, 2019, 04:03:38 PM
Gold has been a reliable tool for centuries. Gold has served as a protector, a way to save wealth, and launder / hide money from the government throughout history. The increase in the price of Bitcoin is indeed extraordinary, but when it decreases, the fall is also not half-hearted. Daily fluctuations in the range of hundreds of Dollars are quite common in Bitcoin. Unlike the case with the price of Gold, the most severe daily fluctuations are only in the range of a few tens of Dollars. In other words, the price movement of Gold is more stable than Bitcoin.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Pamadar on September 09, 2019, 04:20:26 PM
Gold has been a reliable tool for centuries. Gold has served as a protector, a way to save wealth, and launder / hide money from the government throughout history. The increase in the price of Bitcoin is indeed extraordinary, but when it decreases, the fall is also not half-hearted. Daily fluctuations in the range of hundreds of Dollars are quite common in Bitcoin. Unlike the case with the price of Gold, the most severe daily fluctuations are only in the range of a few tens of Dollars. In other words, the price movement of Gold is more stable than Bitcoin.
In the long process of your investment interest the best form that you'll going to look is the stability of your assets, gold proved that since then and being used by most wealthy people to store their assets, while in the other side, Bitcoin being continuously adopted also getting it's way to be popularized being an investment tools, though it's hard to predict what future offers to each investors, between this two assets, it can only be concluded after things happen along the way.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: senin on September 09, 2019, 05:20:29 PM
Gold has been a reliable tool for centuries. Gold has served as a protector, a way to save wealth, and launder / hide money from the government throughout history. The increase in the price of Bitcoin is indeed extraordinary, but when it decreases, the fall is also not half-hearted. Daily fluctuations in the range of hundreds of Dollars are quite common in Bitcoin. Unlike the case with the price of Gold, the most severe daily fluctuations are only in the range of a few tens of Dollars. In other words, the price movement of Gold is more stable than Bitcoin.
In the long process of your investment interest the best form that you'll going to look is the stability of your assets, gold proved that since then and being used by most wealthy people to store their assets, while in the other side, Bitcoin being continuously adopted also getting it's way to be popularized being an investment tools, though it's hard to predict what future offers to each investors, between this two assets, it can only be concluded after things happen along the way.
Therefore, there will always be a big difference in volatility between gold and bitcoin. While bitcoin in general is constantly growing in price, it can be used as a means of preserving value. However, if its price is relatively stabilized in the sense of its overall growth, and not volatility, and such a period will come sooner or later, then using it as a means of preserving value will no longer be profitable.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: serjent05 on September 09, 2019, 05:33:32 PM
Not really replacing gold but Bitcoins will become one of the permanent currency in the near future and its volatility will be no longer there maybe it stops from the higher price and from there, we will be no longer see the sudden drop of its price like the golds.

I still can't see Bitcoin being not volatile in the near future. I believe it will take more than a decade for Bitcoin price to be stable in my opinion and it will continue to swing up and down before it settles to its true value.  We are also unsure if Bitcoin will stay or not or be replaced by more scalable cryptocurrency so both our statement here is kinda speculation.  Even Bitcoin replacing Gold is also a speculation that is far from happening.

Gold cannot be replace because it was there a long time ago before bitcoin become known to us.

I agree with you and aside from your reason, there are usage of Gold that Bitcoin cannot replace that is why Gold will always have value and will never be worthless unlike Bitcoin that has a possibility to have 0 value once people lost  interest in it or create another blockchain technology that will make Bitcoin obsolete.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: mazdafunsun on September 10, 2019, 01:43:40 PM
You are telling that the main reason gold will take a back seat is because it is not that accessible digitally .
How about all of those options and financial instruments tied to gold which are sold and bought instantly, you can exchange gold without having it on your hands nowadays so i do not believe that this is good argument.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Viscore on September 10, 2019, 10:41:38 PM
Most people always say that gold is a very important investment option. Moreover, most people choose to invest in gold instead of currencies like dollar,euro etc. . Though not many people are aware of that Bitcoin's potential. I am sure about that Bitcoin will absolutely replace gold in the future.
Gold has been here already for centuries and people are used to it as a good form of investment. But when bitcoin comes along, some people realized that there are more potentials in bitcoin that can bring us bigger profits compared to gold. Gold may be a safety and low risk investment but bitcoin is a very risky one which in return, will give us huge profits more than we can get from gold.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: killat on September 11, 2019, 05:46:18 AM
Anyone saying it will replace gold or not are predicting as much as you!

So, if you wanna gamble, go with you own prediction, that way you won't blame others for your losses.

Note: Predictions are not the way to go.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Wind_FURY on September 11, 2019, 07:43:53 AM
I would accept that "Gold is dead", IF every country sells all of their Gold and starts HODLING Bitcoin. China is currently buying Gold, Russia too, as an opt-out instrument/commodity for economic crashes.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Capt00 on September 11, 2019, 09:17:13 AM
IF every country sells all of their Gold and starts HODLING Bitcoin.
But for sure it won't and they won't do that just for the sake of bitcoin.

And I don't see a reason why we have to replace GOLD with Bitcoin. I supposed to by more Golds and leave it there, anytime soon its price will rise but we don't know about bitcoin. Though it has the possibility but thinking where we could see assurance for market gains, most likely we can find it in GOLD.

Well, it has to decide what is best and what way we could be more benefited, either holding both of them or to sacrifice golds just for Bitcoin?


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: TheClownSong on September 11, 2019, 09:38:53 AM
I would accept that "Gold is dead", IF every country sells all of their Gold and starts HODLING Bitcoin. China is currently buying Gold, Russia too, as an opt-out instrument/commodity for economic crashes.

In my opinion it is difficult for a country to buy and hold Bitcoin as a reserve because Bitcoin is decentralized and there is also no clear regulation. It is difficult to replace Gold as a reserve because this has been a consensus for thousands of years. For generations who know the internet well, Bitcoin may be better but not everyone can accept bitcoin as a means of payment and many who cannot yet accept bitcoin as an investment tool


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Wind_FURY on September 11, 2019, 11:21:40 AM
I would accept that "Gold is dead", IF every country sells all of their Gold and starts HODLING Bitcoin. China is currently buying Gold, Russia too, as an opt-out instrument/commodity for economic crashes.

In my opinion it is difficult for a country to buy and hold Bitcoin as a reserve because Bitcoin is decentralized and there is also no clear regulation.


Decentralization makes censorship-resistance. I believe it would be because of that property that would make some countries/governments around the world buy Bitcoin as a necessity.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: kecha1 on September 12, 2019, 12:06:58 PM
Gold will remain gold. Bitcoin will remain bitcoin. Nothing will change


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: CoinEraser on September 12, 2019, 12:28:56 PM
Gold will remain gold. Bitcoin will remain bitcoin. Nothing will change

I also think the next 50 or even 100 years won't change much and gold will continue to be of value to many people. Even Bitcoin won't be able to do much about it. As long as gold cannot be mined or produced very cheaply, it will certainly be considered a safe investment for a long time to come. You can trade gold without electricity or internet. Bitcoin cannot offer this advantage at the moment. Therefore I am also of the opinion that gold and Bitcoin go hand in hand into the future.  ;)


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: 1Referee on September 12, 2019, 12:58:54 PM
In my opinion it is difficult for a country to buy and hold Bitcoin as a reserve because Bitcoin is decentralized and there is also no clear regulation.

Regulation-wise, perhaps, but Bitcoin's decentralized nature doesn't have much to do with central banks not buying and storing Bitcoin. The 12.5KG bars they hold in a bunker are decentralized forms of money too.

The real problem central banks will face when buying Bitcoin is that there isn't much of it readily available, while they can get billions worth of Gold at any time of the day without effort. They can't just print x$ billion and then decide we'll buy a few hundred thousand BTC. They can perhaps do it once and empty the OTC market, but that scarcity will definitely be felt and people will value their coins even more.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: antisocial77 on September 12, 2019, 02:05:56 PM
I agree that bitcoin and gold will be the only 2 options to keep money safe because they are both limited.but for bitcoin there is still time.peopöe stll think bitcoin is a ponzi, first we have to tell people its not.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: bitsurfer2014 on September 12, 2019, 03:02:09 PM
I don't think Bitcoin will replace Gold as a store of value but rather I would like to think of it as an alternative to Gold since we cannot

deny that Gold is fundamentally different with Bitcoin and both has unique properties that seems attractive to its supporters. If they

could only harmoniously go along side by side, then it could be much better. Imho.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: joelsamuya on September 12, 2019, 03:16:10 PM


There is a big potential for Bitcoin to be replacing the real gold as the top and preferred choice as store of value but it does not mean that eventually gold will be gone. There are a lot of reasons why many people will still be more comfortable with the real gold compared to its digital counterpart. One big reason why Bitcoin can be competing well with gold is the fact that Bitcoin is easier to own and manage and of course Bitcoin is acting more like a real currency compared to gold. However, I don't think there should be some competition with gold and Bitcoin as Bitcoin has many "rice" to eat before it can surmount the market for gold.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: SquallLeonhart on September 12, 2019, 03:28:19 PM
I would accept that "Gold is dead", IF every country sells all of their Gold and starts HODLING Bitcoin. China is currently buying Gold, Russia too, as an opt-out instrument/commodity for economic crashes.
Which is quite impossible, there is no way people can sell their gold for no reason, when the government has not placed a ban on the use of gold, gold has been a very wonderful asset of investment, and many people have been made through it, and it has also been legalized as mean of payment which government themselves are using, so they would never give it up for anything.

When bitcoin came in to the picture, it only came as means of alternative to some of this things and not to replace them because even satoshi knows that it would be impossible for it to replace fiat and gold, the only thing is that along the line, it may just bet more popular than other means to asset because it is digital and virtually everyone is really going digital now, and our next generation are the ones that will accept this solution more than us.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: dessyhodin97 on September 12, 2019, 04:05:43 PM
simple,because it's the best ;) ;)


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: bitbunnny on September 12, 2019, 04:27:08 PM
Bitcoin will not replace gold. It's an asset of value for centuries and there will always be people who would like to invest in gold and have gold in their portfolio. To be honest, there is nothing to lose with gold. Also, it has the place in world economy.
To my opinion investors in gold and investors in Bitcoin are quite different types and that differences will not disappear.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: darewaller on September 12, 2019, 07:44:59 PM
For now, I still do not see the possibility of bitcoin replacing gold, because if you come to many country and you go to some northern part, majority of them are illiterates, and even at their level of illiteracy, they virtually hold gold as asset and as investment opportunity.

When I see bitcoin, I see it as a system for the highly developed and exposed person in term of education and in terms of technology because bitcoin is strictly an internet based technology and this is what I see as limitation for bitcoin, but if bitcoin can be in form of a precious metal other than just digital alone, then it may be possible, but if you look at gold, you will see that it stands for both. It is only future that can tell anyway, I believe there is a greater future in cryptocurrency.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Questat on September 12, 2019, 10:59:51 PM
I don't think Bitcoin will replace Gold as a store of value but rather I would like to think of it as an alternative to Gold since we cannot

deny that Gold is fundamentally different with Bitcoin and both has unique properties that seems attractive to its supporters. If they

could only harmoniously go along side by side, then it could be much better. Imho.
Gold symbolizes wealth as people have to keep it. Price is stable which is not really profitable compared to what Bitcoin can do but if we look its market assurance and to know who could still stand for long, it absolutely is gold.
However, we have to take the opportunity that Bitcoin it has. The profitability of bitcoin looks to be attractive that people first consider this than of gold which we think that gold becomes obsolete and left behind but I don't see this is a reason to replace gold cause it will be impossible to happen.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Slow death on September 12, 2019, 11:31:15 PM
again discussion of gold and bitcoin ... you don't want to get in this fight and bet:

Bitcoin Price ‘Will Never Hit $50K,’ Gold Bug Peter Schiff Tells Tom Lee (https://cointelegraph.com/news/bitcoin-price-will-never-hit-50k-gold-bug-peter-schiff-tells-tom-lee)

People will not stop buying gold because of bitcoin. I believe people used both, but for them to use both, bitcoin will have to be well regulated, with clear laws. And this will take many years, it is not something simple and it can not be done so early. so for now gold has more attention of many millionaires and billionaires


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Gi01 on September 12, 2019, 11:41:29 PM
Overtime I've researched what has made gold desirable as a store of value.

Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.

Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.

I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.

I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.

Please watch the video and let me know what you think. Thanks

https://youtu.be/UyaNJMxWmSU

Enough about this bullshit comparison. You don't really understand what Bitcoin is and the main purpose behind the development of it. In as much that people are investing into Bitcoin does not make it an asset or a precious coin.  Once you truly know and understand Bitcoin, you will never make a mistake to compare it with Gold.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Iykejunior on September 13, 2019, 12:47:35 AM
well I don't see bitcoin replacing gold because I feel they are both very important assets but in different sectors.Gold is a physical store of value and worn as a jewel. Bitcoin on the other hand is a digital assets, not physical , not a jewel that can be worn, but is as well also a great store of  money.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Khaos77 on September 13, 2019, 01:36:15 AM
Overtime I've researched what has made gold desirable as a store of value.

Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.

Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.

I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.

I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.

Bitcoin has no presence in the physical world.

Gold is a store of value, because it has additional uses in the real world, manufacturing and others,
which when gold price lowers these others utilities buy more.
Bitcoin is totally useless in a physical only setting, and has no other uses.

Gold will always surpass Bitcoin in actual global usage.
Plus if the bitcoin miners all go bankrupt , bitcoin dies.
If gold miners go bankrupt, my ability to use gold is not diminished in the least.


 


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: meanwords on September 13, 2019, 01:57:56 AM
I completely disagree with you. Gold is not just a store of value, it has a lot of uses in the world. I think you don't even know what gold is. You should research more on that first before you make a statement like this.

We are in a digital world, even if gold is a physical thing, gold can adapt too. Although it is quite difficult to believe, there are companies that have made a stablecoin back by gold so investment in gold can be easier to achieve.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Wind_FURY on September 13, 2019, 08:23:40 AM
Debating in the topic is making me believe that Bitcoin and Gold will both be occupying their own small niches in society. Most normal, working people won't be buying Bitcoin, or Gold, because most normal, working people don't save to invest with their salaries.



Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: milani on September 13, 2019, 09:49:53 AM
We have to understand we are in a middle of something, in a transiction between old habits and new technologies and this is very hard to accept and understand fully
Gold probably will be replaced, with time. And even BTC will be replaced for something new and better, maybe we will be talking about something new to replace BTC in a few years...

It's crazy, but everything changes, and gold will change to


In theory everything may happen and every opinion has the the right to exist. And may be one day gold will be replaced by something other. It may appear that the Bitcoin will replace the gold, of course. But to my mind it will not happen in the nearest future. Too many factors do not or will not allow this to happen. Investments in gold or something else like oil, weapons will be still interesting to people for a long period of time. And next interesting, popular, profitable investment, for example, may appear to be water...who knows.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: trickyriky on September 13, 2019, 06:56:13 PM
Gold will remain gold. Bitcoin will remain bitcoin. Nothing will change

This is right, bu the founder of EOS is still sure that in 20 years Bitcoin will replace this precious metal. Although it can be the next "smart prediction" which will not come true again, in a way, BTC can really become something like gold online. I believe that now Bitcoin can try to be on a par with gold and turn into a reliable defensive asset. Those, who invert in this crypto, make the right choice.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: retnoanjani on September 13, 2019, 10:54:29 PM
However, comparing them is not wise. Bitcoin has advantages and disadvantages, as well as gold. Both are effective to be used as an investment with their unique and different risks. The price of bitcoin does tend to be easier to go up many times faster than gold, but the risk is also great, on the contrary, the risk of gold is smaller but the price increase is very slow. Depending on each passion, whether like a challenge to face high risk, or choose a safer path.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: whtchocla7e on September 14, 2019, 01:42:53 AM
Gold will remain gold. Bitcoin will remain bitcoin. Nothing will change
I agree with your point. Gold cannot be replaced by Bitcoin, there are antics as a joke. Only about 1% of people in the world know Bitcoin and blockchain technology, for gold I think more than 90%.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: lepbagong on September 14, 2019, 10:15:17 AM
However, comparing them is not wise. Bitcoin has advantages and disadvantages, as well as gold. Both are effective to be used as an investment with their unique and different risks. The price of bitcoin does tend to be easier to go up many times faster than gold, but the risk is also great, on the contrary, the risk of gold is smaller but the price increase is very slow. Depending on each passion, whether like a challenge to face high risk, or choose a safer path.
I agree with your opinion, and just confirm that bitcoin and gold certainly have their own criteria and the most obvious share for investments is clearly different.
bitcoin investment clearly has a high risk and no small risk besides the benefits to be gained.
different from gold as the colleague above said.
in principle, they are the same form of investment, gold can be used for accessories not with bitcoin, but the advantages and disadvantages that clearly distinguish between bitcoin and gold.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Vishnu.Reang on September 14, 2019, 10:27:50 AM
Debating in the topic is making me believe that Bitcoin and Gold will both be occupying their own small niches in society. Most normal, working people won't be buying Bitcoin, or Gold, because most normal, working people don't save to invest with their salaries.

In my country (India), gold is the most popular form of investment asset (perhaps along with land). Gold is not very volatile and not much paperwork is needed for purchasing gold coins or jewelry. On the other hand, in case you want to purchase equities, ETFs or mutual funds, then you need a demat account and filing tax returns may also get complicated.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Diirtmaan on September 14, 2019, 10:51:33 AM
Overtime I've researched what has made gold desirable as a store of value.

Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.

Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.

I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.

I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.

Please watch the video and let me know what you think. Thanks

https://youtu.be/UyaNJMxWmSU

Gold is a material asset, you can use not only to save value but also for the manufacture of jewelry and other useful things. Bitcoin is a digital asset that is not tangible, for this reason I do not want to compare these two assets because of a mismatch between them


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: boris2470 on September 14, 2019, 11:21:56 AM
Overtime I've researched what has made gold desirable as a store of value.

Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.

Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.

I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.

I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.

Please watch the video and let me know what you think. Thanks

https://youtu.be/UyaNJMxWmSU

Tangible assets like gold, oil, precious metals and valuables will live forever. This is useful; the value can be stored in this. In turn Bitcoin is a digital code that does not have material value, so you do not need to make high-profile statements and make Bitcoin better than gold, just divide these assets


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Wind_FURY on September 16, 2019, 06:22:10 AM
Debating in the topic is making me believe that Bitcoin and Gold will both be occupying their own small niches in society. Most normal, working people won't be buying Bitcoin, or Gold, because most normal, working people don't save to invest with their salaries.

In my country (India), gold is the most popular form of investment asset (perhaps along with land). Gold is not very volatile and not much paperwork is needed for purchasing gold coins or jewelry. On the other hand, in case you want to purchase equities, ETFs or mutual funds, then you need a demat account and filing tax returns may also get complicated.


But my point is, how many people in India are saving and investing? I believe the ratio of investors compared with the total population of non-investors is very small. Investing, small niche. Bitcoin investing, ?


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: STT on September 16, 2019, 09:40:21 AM
Saving is very different to investing in my view, India has a tradition of saving gold because their currency is unreliable and tied to politics not solid value which is partly true for alot of the world.   Investing would imply much greater risk and an attempt to employ capital for use in business in return for much greater chance of value exceeding inflation.
  In this context gold only has a basic remit which is to counter inflation, any price rise should be in line with inflation on going and so gains are far closer (long term) to neutral to zero when adjusted for loss of value in any particular currency.

   Its extremely unlikely Bitcoin or any technology replaces gold because they are not in the same asset class really, to say no more gold would be to eliminate an entire type of asset possible.   There are other commodities but most of them are heavily industrial or not quite fungible in the same way and so unsuitable for consideration as base money in the way that gold has been for many thousands of years.   Anything can resemble money, if someone wants to argue we switch over to a bias of 90% BTC and gold is far less used vs its previous backing then thats arguable.
   I dont give any credence to believing it no longer exists as an asset, its bound to be very useful in the simplest of ways as FIAT fails in various ways.   My only thought on that is native populations who left gold on the floor where it lay for the useless heavy but soft rock it is.   They were nomadic tribes existing in alignment with the great Buffalo herds across the entire continent, they didnt even seem to have a fixed idea on land ownership.   I believe they had no place for gold in their system of value because it was heavy and useless to them, it would have equated to a negative to have ownership of this no matter how pretty it might have been crafted like other cultures did from early times.
   So now if we value gold as nothing I could only believe this if our entire population became nomadic and so the weight of everything and practicality on hunting fields was most relevant.   Nothing is impossible but I dont see any scenario in which civilizations switch to that extent in my lifetime.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Wind_FURY on September 16, 2019, 11:05:47 AM
Saving is very different to investing in my view, India has a tradition of saving gold because their currency is unreliable and tied to politics not solid value which is partly true for alot of the world.   Investing would imply much greater risk and an attempt to employ capital for use in business in return for much greater chance of value exceeding inflation.
  In this context gold only has a basic remit which is to counter inflation, any price rise should be in line with inflation on going and so gains are far closer (long term) to neutral to zero when adjusted for loss of value in any particular currency.

   Its extremely unlikely Bitcoin or any technology replaces gold because they are not in the same asset class really, to say no more gold would be to eliminate an entire type of asset possible.   There are other commodities but most of them are heavily industrial or not quite fungible in the same way and so unsuitable for consideration as base money in the way that gold has been for many thousands of years.   Anything can resemble money, if someone wants to argue we switch over to a bias of 90% BTC and gold is far less used vs its previous backing then thats arguable.
   I dont give any credence to believing it no longer exists as an asset, its bound to be very useful in the simplest of ways as FIAT fails in various ways.   My only thought on that is native populations who left gold on the floor where it lay for the useless heavy but soft rock it is.   They were nomadic tribes existing in alignment with the great Buffalo herds across the entire continent, they didnt even seem to have a fixed idea on land ownership.   I believe they had no place for gold in their system of value because it was heavy and useless to them, it would have equated to a negative to have ownership of this no matter how pretty it might have been crafted like other cultures did from early times.
   So now if we value gold as nothing I could only believe this if our entire population became nomadic and so the weight of everything and practicality on hunting fields was most relevant.   Nothing is impossible but I dont see any scenario in which civilizations switch to that extent in my lifetime.


How can you invest/HODL if you don't save money to use for investing/HODLING? Gold hodlers, and Bitcoin hodlers are small niches, and might continue to remain to be small niches because no savings.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: NeuroticFish on September 16, 2019, 11:36:01 AM
How can you invest/HODL if you don't save money to use for investing/HODLING? Gold hodlers, and Bitcoin hodlers are small niches, and might continue to remain to be small niches because no savings.

Money is just a representation of debt. I guess that you know that. And people receive money for their work.
In the same way one would receive money, he can receive Bitcoin for his work (bounties, signatures, whatever). And that can be HODL.

And I've seen that people don't see this earned Bitcoin in the same way as the earned fiat. The may have difficulties with fiat, they may not save fiat, but they may keep the Bitcoin. I cannot explain why this happens, it's not really logical, but I've seen it. Maybe this gives you some answers.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: sana54210 on September 16, 2019, 09:14:55 PM
Debating in the topic is making me believe that Bitcoin and Gold will both be occupying their own small niches in society. Most normal, working people won't be buying Bitcoin, or Gold, because most normal, working people don't save to invest with their salaries.

In my country (India), gold is the most popular form of investment asset (perhaps along with land). Gold is not very volatile and not much paperwork is needed for purchasing gold coins or jewelry. On the other hand, in case you want to purchase equities, ETFs or mutual funds, then you need a demat account and filing tax returns may also get complicated.
Neither does bitcoin requires many paper work also to purchase bitcoin and have it as an asset, the only difference between gold and bitcoin is that bitcoin has a higher volatility, which to me is even of a great advantage when the price of bitcoin shoots up, it could shoot so high and give profit that no gold investment can ever give.

The advantage of gold to me is that the value is quite stable and could service as reliable means of exchange and payment for a particular services or goods and will still have the same value of what the purchase is worth. Gold is older than bitcoin, and that is the reason why it is more popular, the moment bitcoin get older and the volatility reduces, it will be nearing what gold also is to people and even more.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: leftgirly on September 16, 2019, 09:25:47 PM
Time changes and every season comes with it's own issues and opportunities for people to grab and achieve riches. In the past gold has always had an amazing way to make people rich, I believe bitcoin has come at a time where technology is far advanced. Eventually, something must replace gold and bitcoin can surely make this possible in the near future.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Saltius on September 17, 2019, 01:54:22 AM
I believe it will in the end.
However it won't in a near future.

Notice this, gold could have some 2nd layer networks built upon which may solve those inconveniences of physical gold.
But there is a cripple point that none of those networks could be pegged to physical gold by code or I should say a decentralised method.

On the other hand, we could build 2nd layer pegged with bitcoin by code (Lightning for example).
We can also build an alternative 2nd layer pegged with bitcoin by builder's credibility (Bitpay for example).The latter one is just like gold's 2nd layer.

Which of these two kinds is more popular? If the answer is the latter one, then bitcoin won't replace gold at all.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: marcbitcoins on September 17, 2019, 02:30:38 AM
Gold can be use instantly in any type of economic environment whether in healthy or difficult condition unlike Bitcoin which is only good if the market is healthy. Gold price value is also stable although slow moving but permanently increasing unlike Bitcoin which is proven unpredictable therefore for me it is impossible for Bitcoin to supersede the Gold.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: hv_ on September 17, 2019, 07:42:27 AM
I d be happy BitCoin will replace any PM like Gold & Silver any time soon.

Think of all that crap the digging & chemistry it does to mother nature - mining BitCoin could be done with sustainable sources. But to get a real use case, BitCoin must scale


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Wind_FURY on September 17, 2019, 11:29:31 AM
I d be happy BitCoin will replace any PM like Gold & Silver any time soon.

Think of all that crap the digging & chemistry it does to mother nature - mining BitCoin could be done with sustainable sources. [b2But to get a real use case, BitCoin must scale[/b]


Yes it must, but not in the direction the big blockers took. Bitcoin's value-proposition is in its decentralization. From it, came censorship-resistance, and security. Giving up decentralization to make it "scale up" would be a bad decision, and reduces its primary value-proposition. Decentralization, censorship-resistance, security.

What Bitcoin Core developers should do is improve latency, to make it scale out, make it easier for new nodes to do the initial blockchain download.



Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: hv_ on September 17, 2019, 11:50:06 AM
I d be happy BitCoin will replace any PM like Gold & Silver any time soon.

Think of all that crap the digging & chemistry it does to mother nature - mining BitCoin could be done with sustainable sources. [b2But to get a real use case, BitCoin must scale[/b]


Yes it must, but not in the direction the big blockers took. Bitcoin's value-proposition is in its decentralization. From it, came censorship-resistance, and security. Giving up decentralization to make it "scale up" would be a bad decision, and reduces its primary value-proposition. Decentralization, censorship-resistance, security.

What Bitcoin Core developers should do is improve latency, to make it scale out, make it easier for new nodes to do the initial blockchain download.



Open PoW protocol is always decentralized enough - so big block don't kill that. Sorry, but good try

True P2P txs have 'no' latency - that's an issue if u can do RBF and fees fck u up only


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: EdvinZ on September 19, 2019, 05:50:09 AM
My opinion is that Bitcoin will not replace gold, although it can seriously compete with it. Gold itself can be tied to regulated modern high-tech cryptocurrency. Such a cryptocurrency will undoubtedly be in great demand, for obvious reasons. Even without this, physical gold will always be in value, because it is a rare metal, and besides, gold is indispensable in electronic technologies.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: kidoseagle0312 on September 19, 2019, 08:33:53 AM
I doubt that Bitcoin can do replace gold, it is because that the price of gold was very stable compare to Bitcoin, though I the volatility of it was too aggressive, but that's not enough to say to replace it. Gold also was already ancient and being used a thousand years ago no, while Bitcoin was a digital form of currency.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: anoufal on September 19, 2019, 11:13:52 AM
As we have already found out crypto can interact with gold, if you remember the stablecoins that backed by gold


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: STT on September 19, 2019, 11:14:07 AM
Only about 1% of people in the world know Bitcoin and blockchain technology, for gold I think more than 90%.

Theres alot of growth in Bitcoin that tells me, doesnt mean we cant capture the attention of the 89% and so gain alot along the way.    [Most who know of gold never use it for money]  The two things dont oppose each other, BTC is more convenient but gold has the solid standing of a physical presence and ability to be used as jewelry and some like that and always will.   Its hard to argue against a precious metal when it can be used and fashioned into various things,  BTC obviously for different matters more digital.
Quote

Heres what gold and Bitcoin will mostly replace, its the crescendo of debt and FIAT, as it proves unreliable this is the market sector that gives up its share and is divided between every alternative.   There isnt really so much a fight against any monetary standard which is solid and isnt compromised towards failure by politics like FIAT has become.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Yaunfitda on September 19, 2019, 11:34:14 AM
Gold will remain gold. Bitcoin will remain bitcoin. Nothing will change
I agree with your point. Gold cannot be replaced by Bitcoin, there are antics as a joke. Only about 1% of people in the world know Bitcoin and blockchain technology, for gold I think more than 90%.

It's pretty obvious though, gold existed for centuries and bitcoin last ten years. So there's no point in comparing them.

Both has cons and pros, you just have to look at how it will fit you specially if you're an huge investor or just average joe.



Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: mohdk52 on September 20, 2019, 01:54:01 PM
Not replace! Nothing will replace gold, unless of course we find in space a new more rare metal


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Andrews193 on September 20, 2019, 02:59:01 PM
Gold will remain gold. Bitcoin will remain bitcoin. Nothing will change
I agree with your point. Gold cannot be replaced by Bitcoin, there are antics as a joke. Only about 1% of people in the world know Bitcoin and blockchain technology, for gold I think more than 90%.

It's pretty obvious though, gold existed for centuries and bitcoin last ten years. So there's no point in comparing them.

Both has cons and pros, you just have to look at how it will fit you specially if you're an huge investor or just average joe.


Well, although both have been superior investment places for years but the link between the both is almost zero, gold and bitcoin have no relationship to each other, imagine in a simple way, the purpose of these two products is similar, creating value and profit for investors. However, the brand is different, one that was there very early, one that just appeared, users want to make a choice, it depends on their level of interest and feelings, alternative only appears when both fall into a ranking


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: CODE200 on September 29, 2019, 05:41:35 AM
you shouldn't even be comparing bitcoin and gold because they have nothing in common and not in the same category for one to replace the other. bitcoin is a currency and gold is many things but not a currency. gold will remain as it is as long as it keeps its use cases which it will. and bitcoin, as a separate and entirely different thing will grow only as long as it is offering what it is suppose to, meaning a decentralized secure payment system that is censorship resistant.

I agree with you, yes bitcoin can surpass the gold in terms of price but the problem is bitcoin is working in the internet and gold is not a currency but has a price based on its weigh. So, I think the same that they have their value in their different aspects.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: marcuslong on September 29, 2019, 05:58:33 AM
Bitcoin can't replace GOLD. Gold have value around the world like bitcoin. But the point is Gold is known every rural areas in the world. And how will bitcoin replace the Gold? By putting bitcoin in accesories? JK.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Ris88 on September 29, 2019, 06:44:40 AM
Bitcoin can't replace GOLD. Gold have value around the world like bitcoin. But the point is Gold is known every rural areas in the world. And how will bitcoin replace the Gold? By putting bitcoin in accesories? JK.

It's true that bitcoin can't replace gold, but it's just that it rivals the sale value, that's what people in this forum mean, not to drop each other's tools.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: zedicus on September 29, 2019, 06:47:43 AM
Two different assets must not be compared to each other.Bitcoin and gold has its own uniqueness and its own use on this world.Gold compared to bitcoin is way older and way more trusted as store of royalty and investment,more people trust gold for sure compared to bitcoin so no need to argue between those 2


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Colt81 on September 29, 2019, 06:53:37 AM
Precious metals like gold should not be compared to bitcoin and any other cryptocurrencies because they have a big difference according to their value and to their long term investments. But according to other people's opinion, they would prefer bitcoin for long term investments because they have high hopes that they will gain more profit from it.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: nara1892 on September 29, 2019, 06:59:54 AM
gold and bitcoin will remain in the future, only fiat currencies will disappear
if gold cannot be used for currency, it can still be used in the form of jewelry


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Argoo on September 29, 2019, 07:12:57 AM
Bitcoin and gold are actually opposites in the financial asset class. Bitcoin will never replace gold, because it is not capable of it. People will always prefer tangible gold over virtual numbers. Such is the nature of people. Moreover, this will not happen if natural disasters increase in the world, and during a period of global climate change this is very likely.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: fiulpro on September 29, 2019, 07:39:01 AM
But the price volatility is something that will be hard to take an account of ...

..also as long as women are there the gold will stay in the demand to be honest 😂 , contrary Bitcoins need government approval to fully flourish, if they ban it and somehow it goes down in the value then there will be problems .


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: ray_saeed on September 29, 2019, 07:40:57 AM
Gold will be with us forever, in my opinion


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Insanity on September 29, 2019, 09:59:43 AM
Bitcoin will not replaced gold, you know why? Because gold is a physical investment which is not volatile in case of value. On the other hand Bitcoin is also good for investment but not for long term. As of now still Gold is the best but we cannot predict the future.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: senne on September 29, 2019, 10:56:30 AM
Gold is a commodity. It has a use case.

Bitcoin might become a preferred alternative form of investment in case of market not performing up to the point or for hedging the portfolio. But because of the inherent value the gold has, it is not going to vanish. It is being considered as a precious metal around the world and is being heavily used in jewelry which maintains its demand. This is not going to end anytime soon.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Hippocrypto on September 29, 2019, 11:15:07 AM
Precious metals like gold should not be compared to bitcoin and any other cryptocurrencies because they have a big difference according to their value and to their long term investments. But according to other people's opinion, they would prefer bitcoin for long term investments because they have high hopes that they will gain more profit from it.

Many times I've been hearing statements in a very uplifting words, yet it's always a very confident way of expressing their thoughts. Gold had a different side of the story in comparison with bitcoin, that's why we cannot expect bitcoin will replace it easily. Material value compared to digital asset was totally different.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: randegibran on September 29, 2019, 12:06:53 PM
Gold is good investment assets with stable price, but getting higher profit with short time very hard with gold investment and bitcoin is the best solution to get much profit with higher price and always get much.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Dread Pirate Roberts on September 29, 2019, 12:08:07 PM
Bitcoin and gold are actually opposites in the financial asset class. Bitcoin will never replace gold, because it is not capable of it. People will always prefer tangible gold over virtual numbers. Such is the nature of people. Moreover, this will not happen if natural disasters increase in the world, and during a period of global climate change this is very likely.

Yes? i know right. its like not compare the same thing. gold its real assets with it is real goods. but bitcoin its digital assets. your assets in the blockchain system. and that is so different. both of it have strong value and the value will always get bigger day by day.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: OnceTwiceThird on September 29, 2019, 02:47:15 PM
Gold never could replace by anything, bitcoin have good price but never change gold place because many people afraid for investing money in bitcoin with price situation.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Arsenyo on September 30, 2019, 08:42:42 AM
Don't agree. First of all, gold is less volatile. Secondly, gold is a proven and effective investment. Cryptocurrencies, on the contrary, are needed only in order to play the role of tokens in electronic payment systems. And of course the gold market is regulated, while cryptocurrencies still have problems with adoption. Bitcoin and gold are completely different things.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Deborah Christine on September 30, 2019, 09:44:45 AM
Bitcoin can't replace GOLD. Gold have value around the world like bitcoin. But the point is Gold is known every rural areas in the world. And how will bitcoin replace the Gold? By putting bitcoin in accesories? JK.

Until now the market has often compared gold with bitcoin and analyzed which assets can benefit greater investors.

From the supply side, actually these two assets both have a limited amount of supply, but bitcoin has characteristics that have the potential to provide greater value to investors compared to gold.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: randegibran on September 30, 2019, 11:42:32 AM
Gold look higher last two week and many people like for investing with gold than bitcoin, maybe bitcoin never could replace of gold place and take gold's investor in bitcoin investment.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Lexurdania on September 30, 2019, 12:12:59 PM
Gold look higher last two week and many people like for investing with gold than bitcoin, maybe bitcoin never could replace of gold place and take gold's investor in bitcoin investment.

In my opinion, Gold is more desirable because it has been trusted for thousands of years as a safe asset. Bitcoin is still 10 years old and I think it takes a long time for people to believe in investing besides that high price fluctuations make people think that bitcoin is an asset with high risk


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: fitty on September 30, 2019, 12:19:59 PM
Gold is not just a store of value, some also consider it an investment opportunity.
That some is a huge number maybe bigger than bitcoin users around the world and people who chose to invest in gold rather than bitcoin is surely bigger in population to think that gold price pump through the years is slowly but surely which makes them invest more on gold rather than bitcoin


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Pinkris128 on September 30, 2019, 03:29:49 PM
Overtime I've researched what has made gold desirable as a store of value.

Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.

Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.

I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.

I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.

Please watch the video and let me know what you think. Thanks

https://youtu.be/UyaNJMxWmSU
I agree with the statement of bitcoin will replace Gold because as you can see, our world is full of things that we can achieve right now and that is bitcoin while gold, you can't find it in an easy way. We live right now in digital world. As the time and years passed by,our society adopting many new things and many people invent things that will help as in our daily lives.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: WatchMaker on September 30, 2019, 03:51:08 PM
There is no doubt the bitcoin will replace gold in the future. Bitcoin already replaced gold in the mind of Millenials - the youth and entrepreneurs. Bitcoin is beating gold with a very high margin in terms of profits for the long-term investment (Bitcoin price grew from $0.5 to $10k in only 10 years). Now, tell me which one among the two is better for investment.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Pinkris128 on October 02, 2019, 06:29:48 AM
Overtime I've researched what has made gold desirable as a store of value.

Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.

Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.

I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.

I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.

Please watch the video and let me know what you think. Thanks

https://youtu.be/UyaNJMxWmSU
That is not impossible to happen now.As you can see, bitcoin already adopted not only by our city, but in the entire world because of its outcome. In bitcoin, we already have the earnings and profit not just like that, we have a huge percentage of having a good future with this. It can help the economic growth of the country. We have this kind of adoptation and we already have different and new innovations. In comparison, bitcoin is more easily to get than gold.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Herbet Fry on October 02, 2019, 10:52:47 PM
Gold is not the same as bitcoin. It as never meant to be a currency where bitcoin is even though they very similar as far as mining them with special equipment and their rarity goes.

You cannot pay for things with gold or break it down very easily so it is useless as a currency. Bitcoin can be broken down many times. The two are very different with different objectives. Gold is a longterm thing for rich people with too much money. xD


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: STT on October 02, 2019, 11:23:41 PM
How can Gold be called useless as a currency when its been used as such for hundreds going back thousands of years, thats funny when we forget our own history.    We are in the financial equal of the planet of apes I think quite often, we believe we have invented something better but we have not.
      
Quote
Gold will be seen as the go to store of value less and less going into the future
  The trend with gold is that it repeats forever, every great society has thought they dont need gold going back to the Roman empire; who removed it from their coinage just like modern nations have.   Its not true, we might store value in many things in hope of inventing a better system but nothing else serves the purpose quite as well in its own unique way.     The current financial wizardry with the housing debt, with treasury debt and with common national currency is the magic idea where they celebrate declaring we no longer need that useless heavy metal to be held as money any more; they think they have invented a better system.
   We all know there are trillions in debt that will never be repaid, most likely is that the system destroys itself and part of that is going to be gold is re-found as value and used as some part in currency and trade exchange.  We might also move on with crypto but its only going to be partly as nothing can replace gold in the unique way it serves as money.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Bitcoininvestment on October 03, 2019, 02:55:53 AM
Overtime I've researched what has made gold desirable as a store of value.

Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.

Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.

I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.

I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.

Please watch the video and let me know what you think. Thanks

https://youtu.be/UyaNJMxWmSU
This is what we think about the two. Bitcoin is a product of innovation ans invention by some great and very well smart idea of a person behind it while gold is a product of our environment.  Bitcoin is a digital value for some people who are in need. We make a digital wallet for that and to keep and be safe of our earnings. Gold is very hard to get and actually it has a certain place where you can find it while bitcoin is produced by internet so it is possible to replace the gold by bitcoin.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: minersday on October 03, 2019, 05:28:47 AM
There is no way bitcoin will ever replace gold.  This is because, bitcoin will not be recognized as an investment asset in some few years to come.
It will be a digital currency mainly for the exchange of goods and services just like physical fiats. Bitcoin was developed to be an alternative currency that eliminates any third parties involvement in the transaction of goods and services. 


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: ScamViruS on October 03, 2019, 05:57:48 AM
I don't think Bitcoin can replace gold. The huge difference between Bitcoin and gold. I think the way people invest in gold, they will not invest in Bitcoin. Because gold is physically money. Investing in gold is recognized worldwide. Gold is much less volatile, which makes investors feel safer to invest in gold.

Gold has been used by humans from thousands of years. So in my opinion Bitcoin will not be able to replace gold.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Murat on October 03, 2019, 12:26:58 PM
It's not mandatory to replace gold by the Bitcoin for any reason, It would be better if you put your research paper here then we also make ourselves understand that Gold is going to be replaced by Bitcoin, You know Gold has a huge popularity around the world and people are trying to collect gold for the future purpose because It's has a massive demand. on the other hand, Bitcoin is becoming one of the popular payment systems nowadays, most important thing is that Bitcoin is not like other precious goods and Fiat money, it's a different thing totally, yeah it's true that people also holding Bitcoin for the future purpose but it's time to discuss about the comparison or replacement issue.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Anegg on October 03, 2019, 01:24:26 PM
Bitcoin will never replace gold for the pure fact that gold is physical and will always have demand because it is a precious material that people desire, either to wear or as a method to maintain their wealth. Bitcoin has nowhere near the demand of gold in this day and age, with most people still scared to even invest into the technology. I think that gold will forever be a store of wealth an a great stable investment, bitcoin on the other hand still has a long way to go before it is even mainstream, which would the first step to becoming a stable investment. Until and unless it becomes mainstream and governments around the world accept it, it will never even have the chance of replacing gold. I truly do hope that one day it will replace gold, with the way technology is progressing at the current time, but I wouldn't be surprised if another cryptocurrency did it instead.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Pab on October 03, 2019, 01:24:37 PM
Central Banks are buying gold and keeping like a  reserve
Gold is traditional store of value from hundreds years
How to imagine that bitcoin with his limit of 21 mln coins will replace gold
There are also two kind of gold.Physical one and digital traded on exchanges
Gold trading is even much more manipulated through futures and derivatives than bitcoin trading is
In a case of bitcoin i am worry that bitcoin price can be manipulated and controlled in similar way


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: johnmason92 on October 03, 2019, 04:14:08 PM
If you have to chose between gold and bitcoin to buy there are several points.Firstly,gold has been highly valued for thousands of years across human civilizations, but now we are in the digital era, when bitcoin is decentralized digital currency, which value has increased ofver the last ten years and has proven that an investment in BTC is highly recommended. So which one is better? If we want to invest in BTC, there is the risk of inflation and deflation. You might win, but you also might lose too. BTC value is something unsteady and gold's value is steady. If it is up to me, I would chose to invest in BTC. It is not because the nature of the human being to take risks, it is because of the idea of Bitcoin. And if people educate themselves about what BTC represents, they would easily understand that the value of BTC.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: atjiat on October 03, 2019, 05:30:56 PM
Until recently, the issue of Bitcoin being able to replace the banking system was very much discussed, but analysts expressed their negative opinion.  This is simply not possible.  And you don’t even need to talk about gold, because Bitcoin can never replace precious metals and other physical values.  To date, there are quite a few problems with Bitcoin, which are obstacles to its mass use.  First of all, you need to solve the problem of scalability and legalization of Bitcoin.  And even in this case it’s not a fact that Bitcoin will be used by all mankind without exception.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: Blackdeath on October 03, 2019, 11:16:51 PM
Overtime I've researched what has made gold desirable as a store of value.

Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.

Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.

I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.

I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.

Please watch the video and let me know what you think. Thanks

https://youtu.be/UyaNJMxWmSU

For me, in terms of the value or the market price, yes, bitcoin will replace the gold but I think when it comes to investing, I think it will be the same because in both gold and bitcoin, they have different opportunities in their different ways. Bitcoin market price can also be dump same as the gold but also their price can be increase also.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: ice098 on October 04, 2019, 03:25:12 AM
If you have to chose between gold and bitcoin to buy there are several points.Firstly,gold has been highly valued for thousands of years across human civilizations, but now we are in the digital era, when bitcoin is decentralized digital currency, which value has increased ofver the last ten years and has proven that an investment in BTC is highly recommended. So which one is better? If we want to invest in BTC, there is the risk of inflation and deflation. You might win, but you also might lose too. BTC value is something unsteady and gold's value is steady. If it is up to me, I would chose to invest in BTC. It is not because the nature of the human being to take risks, it is because of the idea of Bitcoin. And if people educate themselves about what BTC represents, they would easily understand that the value of BTC.
If I will choose between the two, sorry but I will choose gold. We all know that bitcoin is not yet legalize all over the world. But gold is well known to have a precious value in the world. Bitcoin cannot replaces gold, also they are not at the same level, gold is a physical asset  and bitcoin is a virtual currency that can be found in the internet a virtual asset.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: blckhawk on October 04, 2019, 03:35:51 AM
Overtime I've researched what has made gold desirable as a store of value.

Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.

Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.

I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.

I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.

Please watch the video and let me know what you think. Thanks

https://youtu.be/UyaNJMxWmSU
Even gold doesn't have some of the attributes Bitcoin has, it still cannot be replaced by Bitcoin. No matter how much the price difference is, the fact that Bitcoin is just a digital currency is something not all would accept as form of payment. It's still important to have gold reserves since it is something you can physically trade to other goods, cosidered valuable by the society because of its rarity. Bitcoins market volatility is also not good to store value since people will just lose money on drastic fluctuations.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: cutesgirl on October 05, 2019, 01:42:42 PM
Bitcoin can replace gold as investment if bitcoin never find with trouble by exchange market hacked, bad respond from many country and have government want to banned bitcoin, other issues when bitcoin have down make many investor left for bitcoin and why hard for bitcoin can replace gold as investment.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: STT on October 05, 2019, 02:16:58 PM
Quote


I dont think its as complicated as all these factors, of course every asset has some variation but the main difference between these two is how they transact.   Gold lacks the ability of Bitcoin to securely transact without physical exchange, so its especially restricted by any trade which would prefer speed and convenience and independence from review.    That is the beginning and end of most what divides the two assets.
    BTC is far more suited to online trade especially digital goods which are also not tied to any physical exchange.   Gold is preferable where long term storage of value is desired and a fixed amount, known weight and accepted route of exchange is preferred.    They are not in conflict, both are likely to be more popular in future as we dont need everything to be a virtual digital exchange and we'll store fixed value in commodities, housing and many assets besides gold.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: kram31 on October 05, 2019, 02:24:49 PM
Why should they? do we really need a thing like replacement?
They are both different to each other. BTC is an investment and cannot hold physically.
While GOLD can be use as jewelries and the price is not that moving like BTC is having.
I think they are a good combination of investment.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: ReiMomo on October 07, 2019, 03:06:03 PM
I don't think so because bitcoin and gold are different and gold is really great when it comes to long period of investment and it has more stable value and it will stay forever rather than bitcoin that has a volatile value and we don't know if how long will it stay and if it will be legal to all countries. But to be honest, I did not find any valid reason why bitcoin replaced gold. They had different characteristics but the same valuable stuff.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: poptok1 on October 08, 2019, 09:39:45 AM
I still don't understand how you can compare crypto and gold?
It's not crypto that is compared to gold, it is bitcoin.
Not everything that is shiny, is gold and the same rule applies here. Not all cryptocurrency can obtain the status.
And there are quite a few similarities between the two, that's why such comparison is reasonable.
As to replacement one by the other, I don't think it will happen. Gold always going to be desired, because you can't make jewellery out of crypto, you can't use it in production of top grade electronics etc. Means of payment, store of value, investments are another story and as such replacement is possible.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: alexsandria on October 08, 2019, 10:15:07 AM
Gold is more than that. Yes they are both a form of investment and bitcoin has some advantages compared to gold when it comes to transactions but gold has other purposes. An example is the use of gold in medicine where it is used in some medicinal equipments. Another example is those tools which are made up of gold, obviously bitcoin cannot replaced those uses.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: aysg76 on October 08, 2019, 11:51:33 AM
Gold is more than that. Yes they are both a form of investment and bitcoin has some advantages compared to gold when it comes to transactions but gold has other purposes. An example is the use of gold in medicine where it is used in some medicinal equipments. Another example is those tools which are made up of gold, obviously bitcoin cannot replaced those uses.
Well, gold and BTC are both the source of investment but still, you can't compare each other. However, in terms of profit, BTC would still be the topmost choice as it more profitable, but it is a virtual currency whereas gold is a real-life asset and also serves different purposes other than the source of investment. So, comparing these two won't be justified...


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: karanggatak on October 08, 2019, 12:00:05 PM
people say that bitcoin is better than gold, they think price is better than endurance, can be recycled, and many advantages. for me, bitcoin cant replace gold, of course if bitcoin price is amazing, it have big value than gold, and you can get it easily than gold, but bitcoin still bitcoin, you need connection to make transaction with it. lost bitcoin cant be take used again. gold is different, you can melt it but it still be gold.


Title: Re: Bitcoin Will Replace Gold! Here's Why...
Post by: deadsilent on October 08, 2019, 01:02:06 PM
Somehow op has a point. But can Bitcoin still exist even for hundred years? Gold is tested for hundreds of years and it's value grown many times than any other FIAT currencies. Bitcoin only existing for about a decade right now and now we see it's growing. But how long? Many countries are against it and the threat of being is possible. Unlike gold, it's accepted worldwide. Plus the stable price of it. Bitcoin can't do that.