Is Bitcoin digital gold or digital cash?

[Boriscarter1]

Bitcoin is a digital cash and it can be used easily as a crypto currency. I guess these crypto currency will be too my popular after a certain time when cyper security issues will be taken care off.

[1713241634]

1713241634

[1713241634]

1713241634

[1713241634]

1713241634

[1713241634]

1713241634

[1713241634]

1713241634

[Naoko]

for me bitcoin is digital gold, because I don't use it as a cash yet, but I use it as an asset...

[Magkirap]

It depends on how everyone as an individual makes use of Bitcoin. I personally see and use it more as something that can be seen as Gold. I am not really interested in using my coins for spending purposes. I use it as a store of value, where my main motive is to keep a large portion of my wealth outside the banking and governmental system. At the same time, the volatile nature of Bitcoin lends itself perfectly for investment/trading purposes, which is also what I am using Bitcoin for. For me the right term is indeed digital Gold.

I agree on your opinion that it depends on how everyone as an individual makes use of bitcoin and it can personally see and use as something that can be seen as gold. But on my opinion, I think its both digital gold and digital cash because you can convert bitcoin as local fiat. And you can use it for investing on bitcoin related bussinesses or on trading on another cryptocurrency.

[laxinternational]

Bitcoin is both digital Gold as well as digital Cash. It posses qualities of both currencies. Gold is used as an asset or mode of investment from centuries. Gold is widely accepted irrespective of national boundaries. Bitcoin works on the same platform, it has wide acceptance, and if you see its price graph it is a successful asset. Cash is a world currency; almost every country has its own fiat cash. Bitcoins can be used as a currency in day to day transactions but it requires basic infrastructure like mobile, internet etc. That is why it more popular as an asset rather than currency.

At first, I was thinking that bitcoin is a currency then I changed my mind. Bitcoin turned into an investment instrument such as gold and silver. Its price goes up and the investors earn money from it.

[rgcoin]

Proponents of Bitcoin as ‘digital cash’ place more emphasis on the accessibility aspect, arguing that its transaction fees should be low, whereas proponents of Bitcoin as ‘digital gold’ are more focused on its security, arguing that this should not be compromised by efforts to lower costs.
In my opinion Bitcoin is and will be both: digital gold and digital cash

[FoxTheHuman]

I see bitcoin as a digital money that we can use for paying for online services if we accept bitcoin as a form of payment.

[Wingo]

Because of the price increase of bitcoin, it became more of an asset than a currency, a digital asset that surpassed the price of gold.

[ismadanniel]

some country cant pay using btc so i will go for vault because the price increase so it cant be use for payment need to change to currency to use for payment...but some can because so will be both for country that can use

[Irvinn]

Since bitkoyn performs the function of a means of payment and is a measure of value, it is uniquely a digital money. As for the question of whether bitcoin is digital gold, this concept is rather relative. Bitcoin can be considered as digital gold in the sense that it, like gold, performs the function of storing value. Moreover, due to its shortcomings, bitcoin is less and less used as a means of payment, and given its very high cost, it is increasingly being considered and used as a means of storing value.

[Sithara007]

Ideally it should be both. But the high fees is hindering its usage as a payment medium. So I would say that Bitcoin is an investment asset which can be used to store your wealth, while other cryptos such as Bitcoin Cash and Ether can be used both as a mode of payment and as an investment asset. The last time I checked, there were around 180K unconfirmed transactions in the Blockchain. It is going to get worse.

[Naoko]

it doesn't work for bitcoin to be digital money...transactions simply take incredible time...so at the moment it plays out the role of digital gold

[WatchMaker]

Bitcoin is both the store of value and a payment system. People can use bitcoin in a form of currency or an asset to store for long term.

[Magic Sarap]

Answers to this question are constantly posted on this forum and on Reddit by people who are not software engineers/developers, nor product managers. Either that or they are truly terrible at their jobs. Reddit in particular has really turned into a garbage dump, but that's something for another discussion.

Anyway, in a business context you want to build software that meets your customer's expectations, so understanding how a user makes use of your software solution is really important for smooth communication and shared understanding between management, marketing and engineering. Normally you want to write out really detailed user stories/journeys, maybe even draw diagrams or create mock-ups that demonstrate the exact problem you're trying to solve and how your thing will solve it.

Here's a teaser:

Alice is at a farmer's market and wants to buy broccoli from a vendor. How does she pay?

Here are just a few important details that we need to know first:

- What country is Alice in, and what are the economic conditions?
- How much money does she make every year/how well off is she?
- How technologically sophisticated is she/how old is she?  
- What tastes and preferences does Alice have/what prejudices her in certain ways?


We need a lot more information before we start talking about what BIP we can code up in a day. If you think about these questions only from your own perspective and experience, you're discounting the majority of people on this planet that want to use the same technology. Bitcoin's value depends mainly on how many people can safely use it, and if it's not in use by the largest number of people possible, it will not achieve it's full potential/value.

The correct answer to the question in this poll is "it depends". Bitcoin is for humans, and humans have different needs. Most likely every redditor and bitcoin.org poster's favorite potential use case, "in-person payments at high volume merchants", will not be satisfied by Bitcoin directly. Use something else for that one narrow use case if Bitcoin isn't doing it for you, and support the engineers who are working to make Bitcoin more secure and stable, goddamnit  

I agree with the things that are mentioned. Bitcoin is both or either a digital gold or digital cash. It can be considered as a gold because of its expensive market value which makes it a good asset and investment. It can br called as a digital cash since in the first place, Bitcoin is a digital currency.

[intelligent.investor]

Bitcoin is Hybrid Phenomena of every consisting Assets and Cash with Technology and Humanity.BTC

[Blackdeath]

Answers to this question are constantly posted on this forum and on Reddit by people who are not software engineers/developers, nor product managers. Either that or they are truly terrible at their jobs. Reddit in particular has really turned into a garbage dump, but that's something for another discussion.

Anyway, in a business context you want to build software that meets your customer's expectations, so understanding how a user makes use of your software solution is really important for smooth communication and shared understanding between management, marketing and engineering. Normally you want to write out really detailed user stories/journeys, maybe even draw diagrams or create mock-ups that demonstrate the exact problem you're trying to solve and how your thing will solve it.

Here's a teaser:

Alice is at a farmer's market and wants to buy broccoli from a vendor. How does she pay?

Here are just a few important details that we need to know first:

- What country is Alice in, and what are the economic conditions?
- How much money does she make every year/how well off is she?
- How technologically sophisticated is she/how old is she?  
- What tastes and preferences does Alice have/what prejudices her in certain ways?


We need a lot more information before we start talking about what BIP we can code up in a day. If you think about these questions only from your own perspective and experience, you're discounting the majority of people on this planet that want to use the same technology. Bitcoin's value depends mainly on how many people can safely use it, and if it's not in use by the largest number of people possible, it will not achieve it's full potential/value.

The correct answer to the question in this poll is "it depends". Bitcoin is for humans, and humans have different needs. Most likely every redditor and bitcoin.org poster's favorite potential use case, "in-person payments at high volume merchants", will not be satisfied by Bitcoin directly. Use something else for that one narrow use case if Bitcoin isn't doing it for you, and support the engineers who are working to make Bitcoin more secure and stable, goddamnit  

Well, for me, on my opnion, I have the perspective that bitcoin can come to be both a digital cash and tend to be a digital gold at the same time. Because for me, bitcoin has already catered the characteristics digital cash and digital gold possesses. It is a digital cash because it is a currency type version of our current money in terms of virtual aspect and a digital gold in the other hand because of the price value that is somewhat the same as gold since the price is fast growing.

[Dudeperfect]

I am with the majority of the voters saying that Bitcoin is a store value as well as a payment system. The core values of Bitcoin says that it is a payment system with the better benefits as compared to that of the traditional model of payment transfer but to transfer the value, there must be some value for the units and hence the mutual trust of the bitcoin users community believe that it has some value stored in it and willing to pay a certain amount to buy or transact with it.

[Gotottack]

I am leaning towards Bitcoin being both digital gold and digital cash. As what have been stated in the previous thread, Bitcoin possesses a dual characteristic that is unique in both assets. It is digital gold because just like gold, its value is highly dependent on its supply and demand. On the other hand, it is digital cash because just like traditional cash, it is accepted as a form of payment. In the same vein, gold is no longer acceptable as a form of payment because such practice has long become obsolete. So you should see from here that it can be argued both ways.   

[josephpogi]

Answers to this question are constantly posted on this forum and on Reddit by people who are not software engineers/developers, nor product managers. Either that or they are truly terrible at their jobs. Reddit in particular has really turned into a garbage dump, but that's something for another discussion.

Anyway, in a business context you want to build software that meets your customer's expectations, so understanding how a user makes use of your software solution is really important for smooth communication and shared understanding between management, marketing and engineering. Normally you want to write out really detailed user stories/journeys, maybe even draw diagrams or create mock-ups that demonstrate the exact problem you're trying to solve and how your thing will solve it.

Here's a teaser:

Alice is at a farmer's market and wants to buy broccoli from a vendor. How does she pay?

Here are just a few important details that we need to know first:

- What country is Alice in, and what are the economic conditions?
- How much money does she make every year/how well off is she?
- How technologically sophisticated is she/how old is she?  
- What tastes and preferences does Alice have/what prejudices her in certain ways?


We need a lot more information before we start talking about what BIP we can code up in a day. If you think about these questions only from your own perspective and experience, you're discounting the majority of people on this planet that want to use the same technology. Bitcoin's value depends mainly on how many people can safely use it, and if it's not in use by the largest number of people possible, it will not achieve it's full potential/value.

The correct answer to the question in this poll is "it depends". Bitcoin is for humans, and humans have different needs. Most likely every redditor and bitcoin.org poster's favorite potential use case, "in-person payments at high volume merchants", will not be satisfied by Bitcoin directly. Use something else for that one narrow use case if Bitcoin isn't doing it for you, and support the engineers who are working to make Bitcoin more secure and stable, goddamnit  

Bitcoin is like a digital and a digital cash i can explain it . bitcoin is like a digital gold because the value of bitcoin is so very high and the demand is limited like gold so thats why the demand is so very high and second bitcoin is like a cash because you can convert it into real money to buy something.

[MD Imran Hossain Emon]

Bitcoin isn't a digital gold it's a digital currency.But i think Bitcoin is more than gold its a valuable currency in the world.

[Wyne]

In my opinion, it merely depend on the person on how he make use of bitcoin. I said so, because when I use bitcoin for transaction payment then, it is a digital cash while when I keep it and invest it, I can classify it as Digital gold because of its increasing value. So, it varies on how you use it.