Bitcoin, a digital Gold? I see it as inappropriate!

[kryptqnick]

Bitcoin isn't literally digital gold, and I think everyone who uses the phrase knows that. It's more of a metaphor, and a pretty good one. For one, gold is well-known, perhaps among the most known things for humanity. So nearly anyone would be able to understand the reference. Another point is that gold is considered highly reliable and valuable, and people also usually call something 'gold' when they mean it's great. And then, of course, gold is often used as an asset, something people put their wealth into to safeguard it. Bitcoin is similar in that regard.

[ndutndut]

Bitcoin is bitcoin and people should understand that. But it is no problem if some people called Bitcoin is a digital gold as it is like gold as the investment. We can not force them to follow as what we say because for them, Bitcoin is like a gold which can be used for their investment. So lets them called Bitcoin whatever they wants because we know what Bitcoin is.

Yes, that's right. This is because in the investment world, Bitcoin and gold assets are often said to be potentially profitable assets. Because each has its own characteristics that affect value, stability, and significant profit potential. in other words, don't compare things that are not comparable because all principles have their own laws. Therefore, many still call Bitcoin like gold, let it be because the goal is to seek financial freedom in the future. Because the misnomer is understandable because we must have both of these assets. Because if you look at history, gold is the longest, but if you look at the benefits, we will definitely choose BitCoin. The important thing is not to choose fiat money because if you look back we have actually been deceived by paper money.

[RockBell]

Comparing Bitcoin with gold, I would say that gold is a physical asset that has its own value and people use it. On the other hand, Bitcoin is a digital and virtual asset that has no physical existence and is only traded on a digital platform. Gold is a very ancient metal. But Bitcoin has only been around for 15 years. However, both are used for almost the same purpose. That is to "store value". They are used to maintain value in the long term, especially against inflation.

The truth is that we don't expect everyone to want to invest in bitcoin there people that no matter what you tell them they will choose bitcoin over anything and same goes for gold and both of them will give you profit and the understanding in value is what is causing this confusion so is better to choose the one you understand the market better so that when investing the complications will actually be lesser and gold is ancient and people respects it as a commodity.

When it comes to existence gold is before bitcoin and a lot of old people will prefer to invest in gold than bitcoin because that is what they understood in there own era and it took time for people to start having faith in bitcoin and with the way bitcoin is going it is better that everyone invest in it because if the United States to make it there reserve eventually them the price of bitcoin will go up seriously and it will only benefit them because of the quantity they will be buying.

And this are most of the information that will make bitcoin to outshine gold because the way we are entering into a new era so is things changing and with this now countries will that given much relevance to bitcoin and those that have been holding for some time now when exactly will they sell.

[retreat]

The narrative that says that gold is "digital gold" is actually a narrative made up by people so that Bitcoin continues to function as a store of value rather than as a digital currency. This misleading narrative makes people believe that Bitcoin is the same as gold, but the only difference is its form, even though in terms of fundamentals and uses, Bitcoin and digital gold are completely different - Bitcoin is a decentralized digital currency developed by Satoshi, while digital gold is gold in digital form that is backed by physical gold - from the meaning alone we can see how fundamentally different the two are. But that's it, this narrative continues to grow like a snowball and makes more people understand that Bitcoin is like digital gold where it is not at all.

[davis196]

Bitcoin has done what no asset in history has ever done and it did this in a very short time. It has always proven to be an entirely different structure for different plans and purposes, which makes it a raw and unique asset. By virtue, everything attributed to it must be new/raw, so people should stop making Bitcoin look like an imitation of Gold by calling it "digital Gold. The word "Gold" shouldn't be associated for any reason.

Besides, Gold already has physical and digital forms, so why still call Bitcoin physical Gold? It's off! No better place to change the narrative than Bitcointalk.

No asset in history has ever reached big market caps? Seriously? What about Nvidia stocks or Tesla stocks? They reached big trillion dollar market capitalization pretty fast(it took them several years). Why might be thinking "don't compare Bitcoin/crypto to stocks", but you were talking about a financial asset. Bitcoin is a financial asset, stocks are financial assets as well.
I don't mind Bitcoin being called "digital gold". There's nothing wrong or offensive with calling Bitcoin "gold". People like to make such comparisons and you can't "change the narrative" by making a Bitcointalk forum post.

[0t3p0t]

Bitcoin has done what no asset in history has ever done and it did this in a very short time. It has always proven to be an entirely different structure for different plans and purposes, which makes it a raw and unique asset. By virtue, everything attributed to it must be new/raw, so people should stop making Bitcoin look like an imitation of Gold by calling it "digital Gold. The word "Gold" shouldn't be associated for any reason.

Besides, Gold already has physical and digital forms, so why still call Bitcoin physical Gold? It's off! No better place to change the narrative than Bitcointalk.

Maybe this is for some sort of standard purposes that is why they call it digital gold just like any other collectibles for example the floating gold which is the ambergris, the liquid gold which is the agarwood and so on and so forth.

[fikrett]

Bitcoin has done what no asset in history has ever done and it did this in a very short time. It has always proven to be an entirely different structure for different plans and purposes, which makes it a raw and unique asset. By virtue, everything attributed to it must be new/raw, so people should stop making Bitcoin look like an imitation of Gold by calling it "digital Gold. The word "Gold" shouldn't be associated for any reason.

Besides, Gold already has physical and digital forms, so why still call Bitcoin physical Gold? It's off! No better place to change the narrative than Bitcointalk.

Maybe this is for some sort of standard purposes that is why they call it digital gold just like any other collectibles for example the floating gold which is the ambergris, the liquid gold which is the agarwood and so on and so forth.

People do love the analogies.
And there is no asset more stable in trad-fi than gold.
That's why BTC is tied to the name of "digital gold", in my opinion. Some would agree with it, others - think it's inappropriate. And that's okay. 

[EarnOnVictor]

There is digital Gold and it has existed shortly after the internet's payment systems gained recognition. I've used many of them and they are being used just as Bitcoin, but the only difference is that people do not know of this not to mention adopting it since developers and businesses do not look toward that angle due to Fiat's dominance. Bitcoin broke the jinx, contended with fiat and won, which makes it popular.

I doubt your saying.

If your saying is true, you were a gold investor or a gold trader many years ago. The Internet blossomed in 1990s and maybe 'Digital Gold' trading started around it but what the hell is "Digital gold" in the past was used as same as Bitcoin. Your post has many things to doubt about your honesty in this post.

The issue with many of you is that you don't understand what you replied to, if you did, your reply and link are unnecessary because they do not relate. I wonder why you couldn't understand the difference between when the "internet started" and when the "digital money payment started gaining recognition." Are they the same?

Read about E-gold, I am one of the adopters and it is a digital gold backed mainly by Gold and some precious metals. The trouble with the US government and various lawsuits were instrumental to its crashing.

[Swordsoffreedom]

There is no denying that the growth of bitcoin is incredible and no other asset has been able to do that so far. But there is one thing that many people forget: Bitcoin was born in peacetime, it has never experienced any fierce wars, never experienced a serious economic collapse or recession...And we don't know what will happen if it goes through those things, will it be dumped or will it grow? But as for gold, it has been around for thousands of years and has tasted the worst things in this world and still exists today. So it can be said that people who call bitcoin digital gold are somewhat biased towards bitcoin and not gold.

An asset that has grown by millions of percent in 15 years is amazing but for an asset that is only 15-16 years old it is still too early to make any claims about its future. We should not exaggerate more than necessary about bitcoin.

[EarnOnVictor]

Bitcoin has done what no asset in history has ever done and it did this in a very short time. It has always proven to be an entirely different structure for different plans and purposes, which makes it a raw and unique asset. By virtue, everything attributed to it must be new/raw, so people should stop making Bitcoin look like an imitation of Gold by calling it "digital Gold. The word "Gold" shouldn't be associated for any reason.

Besides, Gold already has physical and digital forms, so why still call Bitcoin physical Gold? It's off! No better place to change the narrative than Bitcointalk.

No asset in history has ever reached big market caps? Seriously?

By the way, what's so surprising about it? You can do better than this, or better still avoid the reply.

If someone says "Bitcoin has done what any other asset has done in history," it doesn't mean other assets have not attained a big market cap, but how fast and easy was it? If you know Bitcoin very well, you would realise that it's still about 15 years old, yet it has reached a market cap of 2 trillion in a very short time, with serious adoption worldwide. Tell me, what asset has done that in history? I don't just write!

[fikrett]

There is no denying that the growth of bitcoin is incredible and no other asset has been able to do that so far. But there is one thing that many people forget: Bitcoin was born in peacetime, it has never experienced any fierce wars, never experienced a serious economic collapse or recession...And we don't know what will happen if it goes through those things, will it be dumped or will it grow?
-snip-

Can't we consider COVID to be such a thing, at least in the sentiment-wise sense for the market in general?