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Author Topic: Is Bitcoin a Digital Gold??  (Read 6171 times)
hermankoles
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October 18, 2018, 09:03:18 AM
 #901

Crypto and digital gold are a pretty good mention because between crypto and gold have many similarities, they are mined to get them, both can also be used as an invasion product, neither are they referred to as currencies and many similarities between crypto and gold

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georgiasus
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October 18, 2018, 09:09:50 AM
 #902

What else to say, completely agree with him. Moreover, Bitcoin is a very volatile digital currency, so you need to be careful and trade competently. I hope someday bitcoin will not be as volatile as it is now and finally it can be used as a means of payment
Bushrat Jahan
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October 19, 2018, 02:26:13 AM
 #903

I think BTC is like as GOLD because its value is not constant its always changing but GOLD value isn't changing at a high rate but GOLD value not constant. For that reason BTC can be considered as GOLD.  
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October 19, 2018, 07:59:33 AM
 #904

In fact, Bitcoin has been formed as digital gold from the very beginning - the process of creating bitcoins is called "mining." And both Bitcoin and gold are not government exchanges - instead, they are both alternatives to fiat currencies.
jonas5222000
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October 19, 2018, 08:16:29 AM
 #905

We could`nt say that but i`m sure that bitcoin popularity will be more that gold and also its price ,just look at its graph many country now was totally using it for many reason and also they embrace what bitcoin has.

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Cofee.BLUE
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October 19, 2018, 11:48:27 AM
 #906

We can say that bitcoin is a digital gold the different between real gold and bitcoin is their value, bitcoin is continuous fluctuating because it was based on the demand and supply in the market but the real gold is continuous increasing its value and never fluctuates but both is good for long term investment.
Probably yes. It is like a similarities the both of bitcoin and gold has. They have this characteristics that people loves to have it because of the price and that is what we can see. Bitcoin is something that is both as an investment by some people because of its high profitable rate and so as to gold. Therefore we could probably say that bitcoin is the digital gold.
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October 19, 2018, 01:49:55 PM
 #907

i don't think so. i think bitcoin price don't base on anything. so it not a Digital GOLD
FlightyPouch
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October 19, 2018, 01:52:04 PM
 #908

i don't think so. i think bitcoin price don't base on anything. so it not a Digital GOLD

Well, it is based on the movement of the price in the market since the price of these crypto currencies are dependent on the law of demand and supply. Bitcoin is not digital gold, not because it is the most expensive and it is the most popular investment of crypto. It can be compared to gold but gold is still better than Bitcoin.
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October 19, 2018, 06:05:20 PM
 #909

bitcoin is a digital currency. but it cannot be denied that bitcoin will be considered gold. bitcoin can be considered also a mixture of gold and internet.
RiskySanchez
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October 19, 2018, 06:16:02 PM
 #910

bitcoin and gold have different markets even though the concept is the same as a profitable investment. if the value of gold is superior because the price is stable. if bitcoin depends on the market situation but the value is unstable

Champion Coin
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October 23, 2018, 06:43:57 PM
 #911

Yes, bitcoin is better than a digital gold because gold has always been a standard of wealth due to its finite amount and liquidity. Diamonds are more rare and beautiful, however, they need to be cut at precise angles in order to valuable.

Gold is extremely liquid and can literally be melted down to liquid form and hold the same value. Additionally, it is worth noting that gold has no real utility value apart from teeth, computer parts, and jewelry, it is not really utilized.

In conclusion, what storage of value is more liquid whilst being finite than gold... Bitcoin
GhostWithin
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October 23, 2018, 07:19:20 PM
 #912

Yes, bitcoin is better than a digital gold because gold has always been a standard of wealth due to its finite amount and liquidity. Diamonds are more rare and beautiful, however, they need to be cut at precise angles in order to valuable.

Gold is extremely liquid and can literally be melted down to liquid form and hold the same value. Additionally, it is worth noting that gold has no real utility value apart from teeth, computer parts, and jewelry, it is not really utilized.

In conclusion, what storage of value is more liquid whilst being finite than gold... Bitcoin

It's incorrect to compare bitcoin and gold. These are two different assets. Different. One of them will never oust the other.
Don't forget that electricity is necessary for bitcoin
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October 25, 2018, 03:50:42 PM
Last edit: October 25, 2018, 04:02:08 PM by LukeCage
 #913

After reading a lot of posts made by people on this forum, I realized about 75% of them see Bitcoin as a digital Gold. For me, I don't think Bitcoin is a digital gold. Cryptocurrency or Bitcoin to be precise, was developed to be a safer option for transaction of goods and services and also the best mode of payment. Bitcoin was introduced to disable all the restrictions that banks and the financial system presented. A lot of people have lost huge sums of money because they saw bitcoin as a digital gold. I know others will argue that bitcoin has also made people rich but for me, I don't think it is advisable to consider Bitcoin as a digital gold. Bitcoin is a digital currency.
Today, I read an article on bitcoinmagazine.com, which answers exactly to your question.
Probably you have to research a little more.
Bitcoin can have many meanings, and as you already notice, each person has their own idea. Bitcoin can be a currency, a payment method, can be considered digital gold or simply a online scam. The answer can be very differently and in some way sometimes confused. But keep this in mind, Bitcoin is a developing process and new terms along its line may arise.
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