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Author Topic: BTC is Gold 2.0 – What humanity has been waiting for centuries  (Read 3247 times)
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January 27, 2017, 06:42:33 PM
 #21

Great post OP, it would alleviate a lot of future issues if everyone could come to the same agreement as you mentioned in the war portion. It will take time but I can definitely see BTC becoming something pretty similar to what you're describing. As more and more people catch on to what bitcoin actually is and the potential is has you can see actual worth steadily increasing. I don't foresee this stopping at all and I believe it will eventually transition / evolve into what you're describing OP.

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January 28, 2017, 05:11:34 AM
 #22

Bitcoin can be compared to gold.

In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).

Albeit, not a function that most people ever want to have to use.
Bitcoin is even better than gold since it is more secure, it is digital and you can use it as a type of currency. And moreover, no one can control it even if the bank decides to accept Bitcoin. The more you use it, the more advantage it can bring to you.
However, I would like to change the title a little bit: Cryptos are gold 2.0 since there are more potential cryptos have been created which are even more effective than Bitcoin

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January 28, 2017, 06:04:22 AM
 #23

Why do most of the people in this forum, even the Legendary ones think Bitcoin is synonymous to gold? Whenever Bitcoin is mentioned the first thing that comes in their minds are "wealth" and "earnings". Let those people out of here and bring back what it is all about. A censorship resistant, decentralized currency. Do you know what that means OP?
So according to you decentralized, censorship resistant, peerless network and currency system called Bitcoin, can't be compared to gold at all?

No. Because comparing it to gold is very limiting. What inefficiencies can gold come in to and make them efficient? In fact gold itself is very inefficient to use. So why compare it with gold?

But if you do not have a clue what Bitcoin is then be my guest. Call it gold 2.0 if you want.


Quote
It may not be the most accurate representation what bitcoin really is but it is still good and solid parallel, especially for not bitcoin users.

Read the comment above.

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January 28, 2017, 06:06:41 AM
 #24

Bitcoin can be compared to gold.

In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).

Albeit, not a function that most people ever want to have to use.
Bitcoin is even better than gold since it is more secure, it is digital and you can use it as a type of currency. And moreover, no one can control it even if the bank decides to accept Bitcoin. The more you use it, the more advantage it can bring to you.
However, I would like to change the title a little bit: Cryptos are gold 2.0 since there are more potential cryptos have been created which are even more effective than Bitcoin
Yes, the readily able to send and receive around the world in fractions of seconds is the biggest advantage of gold 2.0 which cannot be never possible with gold 1.0 ever.

Gold has lost its usage of being a "currency" due to this factor whereas bitcoin is coming with all the properties of gold+easy transfer facility. It means bitcoin is a "bug fixed version" of traditional gold, the humanity waiting for daily need.
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January 28, 2017, 07:02:47 AM
 #25

Bitcoin cannot be compared with gold. Gold is a precious metal. It can be used for many purpose. Bitcoin is also expensive. It can be considered as a saving if you are ready to take risk. We dont know the future of bitcoin. Because its price is volatile. Who knows if its price will crash tomorrow.Whatever we tell about bitcoin, its right, but after all its a man made software token. Nothing else. If someone hack any top bitcoin exchange or any firm ,thats it. Its price will crash. Imagine If its price crashs and becomes fews cents then there wont be any use with this bitcoin.

the technology behind bitcoin can also be used for multiple purpose, so this whole thing about gold being more important because it can be used on the real industry it's not a point so important anymore in favor of gold

you can use the blockchain to build a great amount of stuff on it, it can make life easier for many developers
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January 28, 2017, 09:49:40 AM
 #26

I think you are right. Gold was the most used store of wealth, but it was lacking the ability to be transfered easily. It could also be robbed. So Bitcoin is a very great innovation because it solves those two problems, but another one is created : you can loose your bitcoins by yourself ! Given the number of people that sent bitcoins to a wrong address, this is the proof that this is not just idiots that send their bitcoins to the wrong address. The developpers should maybe focus on this rather than on other useless things.

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January 28, 2017, 09:56:00 AM
 #27

The thing that are similar within gold and btc is the value itself

Exept that gold is back by a physical bulk and btc is virtual

Anyhow, value of bitcoin seems more stable xd

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January 29, 2017, 01:30:23 AM
 #28

Bitcoin cannot be compared with gold. Gold is a precious metal. It can be used for many purpose. Bitcoin is also expensive. It can be considered as a saving if you are ready to take risk. We dont know the future of bitcoin. Because its price is volatile. Who knows if its price will crash tomorrow.Whatever we tell about bitcoin, its right, but after all its a man made software token. Nothing else. If someone hack any top bitcoin exchange or any firm ,thats it. Its price will crash. Imagine If its price crashs and becomes fews cents then there wont be any use with this bitcoin.

Bitcoin is volatile because while the gold is adopted by the 100% of the potential investors/users,
bitcoin is still unknown for 99% of the world population

If the price crashes to cents, atleast 20% of the current users will go mad for cheap coins  Wink






Bitcoin and gold really looks alike. I can say that the portability is the biggest advantage of gold. You can move a large amount of wealth, which consists in relatively small amount of gold. And gold is easy to store, and relatively easy to hide. Bitcoin has the same properties. So it's really possible to call bitcoin as Gold 2.0.


Portability is not the biggest advantage of gold. Is storing value over time.
You can buy the same things you could 100 years ago. (well, excepting the new tech  Cheesy)
https://www.bullionstar.com/blogs/koos-jansen/how-constant-is-golds-purchasing-power/

You have the same purchasing power, which doesnt happen with other currencies






Yes, Bitcoin and gold share few properties such as both are great investment ventures, but it's not right to say bitcoin as Gold 2.0 as unlike gold bitcoin is very very volatile and even if the probability is low bitcoin can become totally worthless tomorrow(Not that I want it to happen). In today's market investing in gold is very safe, there is now way gold will become worthless I think we all can agree to that, now investing in bitcoin involves some risk. So one is safe and other has some risk so how can they be the same?

They're not the same, because I've explained, one is already adopted and the other is still to be adopted.
In fact, the reason why btc is so interesting investment is because still to be adopted by the 99%



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January 29, 2017, 01:53:02 AM
 #29

I disagree with the OP. Bitcoin has a key difference with gold: its "intrinsic value" depends totally on the network of users and not on a form of "physical" scarcity like with gold.

Many say that Bitcoin is "scarce" because the number of "coins" is limited to 21 million. But Bitcoin software is replicable. We already see that there are many alt-chains emerging using Bitcoin clones or very similar software applications.

So one could say there is no real scarcity. However, that's also not true. The key fact is that the value of Bitcoin is exclusively related to the network of its users. One indicator is the sheer number of users. But even more important is the composition of the user base. There must be users that accept it for goods and services that really are solving needs of other users. That's Bitcoin's real scarcity: The network of users that already exist is very difficult to build up for a clone.

One can say that Bitcoin is used almost exclusively as a speculation tool and that's not important that goods or services are offered. But that's simply not true because you can do speculation the same way with all the other altcoins around there.

The key fact that makes Bitcoin more expensive/valuable than other similar "coins" is the possibility that it could be used some day as a worldwide general purpose payment system. That's the "to da moon myth", and that's why a Bitcoin today costs $1000 and not $3 like a LTC.

For this myth to work, the network of users and good or service providers must be constantly growing. So "real-word" goods and services - although not used very extensively in the community - play an important role for Bitcoin's value.

Gold has value because of their users, the same as btc.
For gold is easier because it has been used by previous generations.

Bitcoin is scarce.
Gold is scarce.
You can paint whatever stone you want. It wont be gold.

Limited offer (21M BTC) and demand is just 1% of world population.
Bitcoin is yet to be adopted by 99%.
Who's gonna sell now when we all know that is still to be adopted by 99%.
Therefore, imagine what's gonna happpen with the price.
You understand now, why most of the people are hoarding?

The difference with LTC is the user base. + Network effect.

Bitcoin never grows constantly. The growth is usually focused in a little space time and then stagnation until is ready for the next adoption phase

Yes, real-world good and services and user-friendly apps are very important to move to the user adoption.
Anyway, we are not still in user adoption, we're moving to wallst adoption.











Bitcoin can be compared to gold.

In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).

Albeit, not a function that most people ever want to have to use.

Hope noone has to use because goverment tyrani (vzla) or  because of war, but yes, you're right, transportability (you just have to remember 12 words) is a great property of btc.

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January 29, 2017, 01:54:21 AM
 #30

Bitcoin cannot be compared with gold. Gold is a precious metal. It can be used for many purpose. Bitcoin is also expensive. It can be considered as a saving if you are ready to take risk. We dont know the future of bitcoin. Because its price is volatile. Who knows if its price will crash tomorrow.Whatever we tell about bitcoin, its right, but after all its a man made software token. Nothing else. If someone hack any top bitcoin exchange or any firm ,thats it. Its price will crash. Imagine If its price crashs and becomes fews cents then there wont be any use with this bitcoin.

the technology behind bitcoin can also be used for multiple purpose, so this whole thing about gold being more important because it can be used on the real industry it's not a point so important anymore in favor of gold

you can use the blockchain to build a great amount of stuff on it, it can make life easier for many developers

What kind of "stuff" are you talking about? How can the blockchain make life easier for many developers? With what we are seeing right now it is making life harder for developers because they have to solve a new set of problems. One thing that made it easy for developers is getting funded by hyping the blockchain. All these blockchain pumpers will keep doing it as long as they can trick people into giving them money for "research and development". Which reminds me. What happened to the biggest VC funded Bitcoin startup, 21 Inc.?

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January 29, 2017, 02:05:58 AM
 #31

Great post OP, it would alleviate a lot of future issues if everyone could come to the same agreement as you mentioned in the war portion. It will take time but I can definitely see BTC becoming something pretty similar to what you're describing. As more and more people catch on to what bitcoin actually is and the potential is has you can see actual worth steadily increasing. I don't foresee this stopping at all and I believe it will eventually transition / evolve into what you're describing OP.

Thanks!







Bitcoin can be compared to gold.

In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).

Albeit, not a function that most people ever want to have to use.
Bitcoin is even better than gold since it is more secure, it is digital and you can use it as a type of currency. And moreover, no one can control it even if the bank decides to accept Bitcoin. The more you use it, the more advantage it can bring to you.
However, I would like to change the title a little bit: Cryptos are gold 2.0 since there are more potential cryptos have been created which are even more effective than Bitcoin


Nope
That's in fact the point of this thread
Cryptos are economy 2.0
Bitcoin is gold 2.0
Dont mix them...






Why do most of the people in this forum, even the Legendary ones think Bitcoin is synonymous to gold? Whenever Bitcoin is mentioned the first thing that comes in their minds are "wealth" and "earnings". Let those people out of here and bring back what it is all about. A censorship resistant, decentralized currency. Do you know what that means OP?
So according to you decentralized, censorship resistant, peerless network and currency system called Bitcoin, can't be compared to gold at all?

No. Because comparing it to gold is very limiting. What inefficiencies can gold come in to and make them efficient? In fact gold itself is very inefficient to use. So why compare it with gold?

But if you do not have a clue what Bitcoin is then be my guest. Call it gold 2.0 if you want.


Quote
It may not be the most accurate representation what bitcoin really is but it is still good and solid parallel, especially for not bitcoin users.

Read the comment above.


Gold may not be perfect but is scarce and stores the purchase power (value)
Bitcoin is better, that's why is Gold 2.0



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January 29, 2017, 02:20:08 AM
 #32

Bitcoin can be compared to gold.

In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).

Albeit, not a function that most people ever want to have to use.
Bitcoin is even better than gold since it is more secure, it is digital and you can use it as a type of currency. And moreover, no one can control it even if the bank decides to accept Bitcoin. The more you use it, the more advantage it can bring to you.
However, I would like to change the title a little bit: Cryptos are gold 2.0 since there are more potential cryptos have been created which are even more effective than Bitcoin
Yes, the readily able to send and receive around the world in fractions of seconds is the biggest advantage of gold 2.0 which cannot be never possible with gold 1.0 ever.

Gold has lost its usage of being a "currency" due to this factor whereas bitcoin is coming with all the properties of gold+easy transfer facility. It means bitcoin is a "bug fixed version" of traditional gold, the humanity waiting for daily need.


Nope.
That's what I'm trying to explain.
We dont need gold 2.0 to pay the coffee.
The main purpose of gold 2.0 is being able to save your money in case of war/goverment tyrani/etc.
Paying a coffee with gold will not change the future of humanity







Bitcoin cannot be compared with gold. Gold is a precious metal. It can be used for many purpose. Bitcoin is also expensive. It can be considered as a saving if you are ready to take risk. We dont know the future of bitcoin. Because its price is volatile. Who knows if its price will crash tomorrow.Whatever we tell about bitcoin, its right, but after all its a man made software token. Nothing else. If someone hack any top bitcoin exchange or any firm ,thats it. Its price will crash. Imagine If its price crashs and becomes fews cents then there wont be any use with this bitcoin.

the technology behind bitcoin can also be used for multiple purpose, so this whole thing about gold being more important because it can be used on the real industry it's not a point so important anymore in favor of gold

you can use the blockchain to build a great amount of stuff on it, it can make life easier for many developers


sorry, but i'm gonna say it clearly. Fuck making life easier for many developers.
Noone has never forbiden anything to any dev.
(maybe there a few cases, like cryptography, but anyway)

The main purpose of gold 2.0 is being able to save your money in case of war/goverment tyrani/etc.

The more things we build over btc blockchain, more value will have, but again, that's not the main purpose of Bitcoin.
We dont need gold 2.0 to pay the coffee.





I think you are right. Gold was the most used store of wealth, but it was lacking the ability to be transfered easily. It could also be robbed. So Bitcoin is a very great innovation because it solves those two problems, but another one is created : you can loose your bitcoins by yourself ! Given the number of people that sent bitcoins to a wrong address, this is the proof that this is not just idiots that send their bitcoins to the wrong address. The developpers should maybe focus on this rather than on other useless things.

Thanks.
You're right.
That's why I say that btc is still not prepared to be adopted by non-tech people.
We need to focus on userfriendly usability/apps

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January 29, 2017, 02:22:14 AM
 #33


The main purpose of gold 2.0 is being able to save your money in case of war/goverment tyrani/etc.
+ storing value over time (decades/centuries)

marcoman22
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January 29, 2017, 01:40:08 PM
 #34

Yes, Bitcoin is Gold 2.0. We have no need to fear whether government will conduct raid and seize our holdings as we fear in gold.Unlike paper currency, Bitcoin is finite and so it is a precious asset.And it has the potential of giving more returns than gold.Even though it has just crossed its initial stage, still it is worth mentioning it as Gold 2.0.One more additional benefit than gold.Unlike gold, Gold 2.0 can be transacted easily to any part of the world.
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January 29, 2017, 03:04:01 PM
 #35

Bitcoin can be compared to gold.

In times of severe social distress, war/tyrannical government, persecuted minority etc. Either Bitcoin can be used can to temporarily store and transport/store wealth that could otherwise be destroyed if left in situ (ie. In local property and other entities that rely on local laws to maintain their value).

Albeit, not a function that most people ever want to have to use.
Bitcoin is even better than gold since it is more secure, it is digital and you can use it as a type of currency. And moreover, no one can control it even if the bank decides to accept Bitcoin. The more you use it, the more advantage it can bring to you.
However, I would like to change the title a little bit: Cryptos are gold 2.0 since there are more potential cryptos have been created which are even more effective than Bitcoin
i think both Gold and Bitcoin has their importance. Gold has a stable value for a long time we can observe a very little change in its value, we can see that most of the people save their assets in gold for long long time. while bitcoin is new emerging currency, people specially from modern countries are adopting bitcoin specially for online purposes. most of the people invest their money here for making more money, the price of bitcoin is not stable, there  is always a big fluctuation in the price of bitcoin and that is the reason that most of the invest hold their bitcoins for the price increase.


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January 29, 2017, 03:50:44 PM
 #36

It's more of an improved Gold, but with only one disadvantage: it depends on electricity and/or internet connection. Otherwise I love it and I think it really is the greatest innovation I had ever seen. The most important features are the portability because you can carry billions with you on a small piece of paper or on a phone app, and the anonymity which is useful in many scenarios!
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January 29, 2017, 05:28:49 PM
 #37



Bitcoin is Gold 2.0

Let’s all work together

It may be but that is actually not that positive thing to hear.

We all expect BTC to be the global currency that will become the global reserve currency.

But this wont be the case. Because if BTC is gold 2.0, then it will be used like gold, which means that only a small percent of the population will use it.

Do you see any vendors, merchants or supermarkets accepting gold? I dont see any.

So the same way, bitcoin wont be accepted either. I have only  1-2 services in my town that has BTC. It's pretty bad.

BItcoin might have value, but if people wont use it on widescale, then I think satoshi will be disappointed.

It was supposed to be a global payment network, not a global wealth storage commodity!

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January 29, 2017, 05:38:17 PM
 #38

Why do most of the people in this forum, even the Legendary ones think Bitcoin is synonymous to gold? Whenever Bitcoin is mentioned the first thing that comes in their minds are "wealth" and "earnings". Let those people out of here and bring back what it is all about. A censorship resistant, decentralized currency. Do you know what that means OP?

It is because they have a lot in common. Like there is limited supply for both of them. You can't print neither of them. If you want them you either buy them or mine them. (mining applies to both)

And there are the differences...

You can't move from border to border with huge gold bars but you can success it with a piece of paper or flash drive.

Bitcoin is definitely pocket size gold.
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January 29, 2017, 05:42:22 PM
 #39

A lot can still go wrong with this experiment, so I would not pump a lot of my life savings into Bitcoin to protect my wealth.  Roll Eyes As with

other commodities, Bitcoin can also be manipulated.... it is much better than Fiat currencies, but it is still very volatile. Your wealth are

in the hands of a few developers and the consensus behind their decisions. {miners and individuals running nodes}  Roll Eyes

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January 29, 2017, 05:52:28 PM
 #40

You are absolutely right. Bitcoin is Gold 2.0 so tell me why people fail to realize that and are trying everything to destroy this invention?
If we would focus on one goal, unite every cryptocurrency enthusiasts under one roof, bitcoin would be number 1 world's currency by now.


Bitcoin wont be the world's number currency until it's ready to be used by the whole population. Lacks development and it will take time.
But we all need to work together in this direction. No internal fights



Why do most of the people in this forum, even the Legendary ones think Bitcoin is synonymous to gold? Whenever Bitcoin is mentioned the first thing that comes in their minds are "wealth" and "earnings". Let those people out of here and bring back what it is all about. A censorship resistant, decentralized currency. Do you know what that means OP?

You forget to mention that is the first digital scarce good created by humanity.
That makes it very similar to gold in terms of scarcity. Therefore as a store of value.


I agree, But it is still early for the human kind to accept it, needs a lot more advertising from everywhere, right now it is in a very closed environment, bitcoin needs worldwide tv commercials like coca cola, easy explanations, easy apps for smartphones..

You're absolutely right


Bitcoin sho is lightweight,  I give it that.  But it don't have no advantage ova tha gold thieves.  Hail, you got the damn exchanges runnin' away wit people's dough!  This ain't no binary dilemma we got here.  Gol' can exist side by side wit bitcoin, jist like we coext wit the squirrels up inna treetops.  Its a big ol' world an' they's lotsa room in it fo' evverthang.

it will coexist with gold, atleast for some generations





This seems like a reasonable way to look at Bitcoin and gold.

Gold has a long history as the world's premier Store of Value.  Gold is pretty easy to understand.  Bitcoin has not been around very long, and as we have seen, there are a variety of issues & problems not being resolved quickly.  It is too early to say whether Bitcoin will become universally recognized.  An altcoin conceivably could come along and displace it.

Bitcoin and gold share some properties.  But, they are two different "vectors" if you will.  BTC is a nice innovation, and might very well change history.  

But the story is not written yet.
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