Is Bitcoin digital gold or digital cash?

[_nur]

bitcoin is an experiment project doom to fail

[CraigWrightBTC]

For me bitcoin is digital gold than digital cash because on my place there are not many stores accept bitcoin for payment method, bitcoin be used for make investments into altcoins (trading altcoins in exchangers),
but i hope in the future bitcoin become digital cash on my place although it will takes​ much time because of many people
who doesn't know and understand about bitcoin and digital coins.

[lighpulsar07]

For me, bitcoin is a digital gold and currency because bitcoin is minable the supply is limited and it has stability like gold. So, it would be advisable to store bitcoins and sell it at the right time you could earn 70% profit. But it is also an currency supposedly bitcoin is an alternative payment method which you can pay anonymously without entering your personal info and your bank details to avoid the hackers stealing your info which is good.

[mindrust]

On the contrary of what people think, bitcoin has infinite supply. All those altcoins popping up every day are side chains of bitcoin. They do exactly what bitcoin does. So bitcoin differs from gold in this matter. Gold has a limited supply as long as a meteorite comes from space. That doesn't happen so frequently  

Bitcoin could have been gold if it was closed source but it takes most of its power for being open source ironically.

[Yanisumin]

It can be either digital gold or digital cash. If you're into it nvestment and buying great amount of Bitcoin and store it waiting for it's price to hike up then you can considered it as a digital gold.

And since Bitcoin is being used in millions of transactions and some stores are accepting it as a mode of payment, undoubtedly you are using Bitcoin as a digital cash.

[hello_good_sir]

I think that i would rather compare such a precious cryptocurrency more to digital gold than digital cash, because of some reasons.

First is that the bitcoin price has grown higher than gold price, so we passed an important moment when something "virtual" is more expensive than such a rare metal

Secondly we need to remember that BTC is crypto #1, and the rest of cryptos(altcoins) have their value but the bitcoin can be considered also as "gold" in this community.

It is more like digital gold in my opinion.

[Lagduf]

It's not gold, but it will be more goldy than gold.  

Nice one .

gold stability is very popular that sometimes my eyes getting blinded by its promising investment, and the goldy ones you said earlier ain't stable is it? it's just ordinary currency but have additional interesting features

[maydna]

For me bitcoin is digital gold than digital cash because on my place there are not many stores accept bitcoin for payment method, bitcoin be used for make investments into altcoins (trading altcoins in exchangers),
but i hope in the future bitcoin become digital cash on my place although it will takes​ much time because of many people
who doesn't know and understand about bitcoin and digital coins.

i am thinking the same like you because when we talk about digital gold, i think bitcoin is like gold but for the online life and we can buying something that selling in store online although we only can found few online store but i am sure that in future, there will be many online store that wants to accepting bitcoin as their payment. beside that, bitcoin itself can be acted like digital cash and we can use bitcoin like i said above, the other reason is bitcoin is make our life so simple and easy. we don't have to carrying too much wallet and its only one wallet is enough to spend our bitcoin to buy something in online.

[richardsNY]

I use Bitcoin in various ways. It's a store of wealth solution, investment solution, remittance solution. It doesn't matter what label you stick on Bitcoin -- Bitcoin is whatever you want it to be. It's a multi functional tool. People have the freedom to use Bitcoin how they want. That's why it really annoys me if people say 'Bitcoin isn't meant for this or that'. Mind your own business!

[Mandy420]

I don't think that it's digital gold or card, because you can use gold at any time, everyone would accept gold as payment, cash don't have much value anymore, bitcoin has because there are rules about it. Also, you can use btc almost wherever you are in the world, and gold too, but gold isn't anonymous, btc is

[Neo_matrix]

For me, bitcoin is both a payment system and a currency. This is a unique phenomenon. No single currency can be used that way. Many beatcoins are attracted precisely because they unite both of these phenomena

[FlamingFingers]

bitcoin is an experiment project doom to fail

Oh really? Then, why do you waste your 'precious' time on a forum that is related to that 'doomed experiment project'? Bitcoin have survived a lot for almost 8 years, and still continues to be much more stronger than ever.

On topic, In my opinion, I think that Bitcoin is both – a store of value and digital cash. While bitcoin is serving as a long-term investment (i.e., digital gold), it also offers a great payment method within itself (i.e., digital cash).

[stompix]

I'm loving these terms.

Well digital gold I can live with but digital cash is pretty funny.

-Do you have any cash on you?
-Pulls out smartphone.

How about neither and both at the same time.
It is digital, it is like gold but it is not gold, it acts like cash but it is not cash.

It's bitcoin.

[Taki]

For me bitcoin is digital gold than digital cash because on my place there are not many stores accept bitcoin for payment method, bitcoin be used for make investments into altcoins (trading altcoins in exchangers),
but i hope in the future bitcoin become digital cash on my place although it will takes​ much time because of many people
who doesn't know and understand about bitcoin and digital coins.

I am in the same situation like you are. I am also waiting to shops or other places would start to accept bitcoin as payment directly in here. For now there is nothing more to me, besides to spend like 10% of my earnings for different fees to cash out my coins on my card and pay for my costs with ordinary fiat.

[stwbitcoin]

Far in the future I think we will see bitcoin server as gold and some other alt coin like DASH or Litecoin serving as quick spending money.  

IMHO unless bitcoin can get its act together, it will ultimately end up as a vehicle of long term storage of value, transfer of wealth, and payment for large value items like homes, businesses, insurance payments and the like. Bitcoin works great, as is, for those purposes. Dash and Litecoin would be great as day to day spending tools. Both Dash and or Litecoin will be valued against bitcoin or gold instead of Fiat. Each coin will serve its unique role. Gold/Bitcoin shall be the Base, Dash/Litecoin shall be the currency used to buy goods from the grocery store. Ethereum will be the mechanism driving and controlling the business world. All other altcoins will be valued against Gold/Bitcoin.

Once we start valuing ALL altcoins against bitcoin or gold, we will truly see the value of bitcoin stabilize and become rock solid.

[Zenithar]

it has both the property fo digital cash, but also a store of value, because digital cash would not have any store of value, all the fiat currency are the worst thing to hold for a long time, you would only lose money

bitcoin it's like gold that was turned to cash and can be used far more easily than carrying gold around, the similarity is also very obvious, like the mining aspect, probably satoshi was inspired by a variant of gold that do not require trust and was decentralized

Without a level of utility value, bitcoin cannot be a store of value.

what do you mean , bitcoin is accepted in many shop, therefore there is a utility and consequently a store of value

to me i think bitcoin is a digital cash, as we have the opportunities to use bitcoin for online shopping while in some place we also have the facilities to use bitcoin for shopping in our local shops without changing it in to fiat currency. although i most of the areas the facilities of bitcoin to use it as fiat in local shops is not available and the reason is that there the users of bitcoin are not enough so that they can attract the shopkeepers to start accepting bitcoin for shopping, but still we are hopeful that when the users of bitcoin will increase there then the shopkeepers will start accepting bitcoins  for shopping.

[Pearls Before Swine]

It's both, but I believe bitcoin is mostly a store of value.  In fact I think it sucks as a currency, and I've said that before many times.  Confirmation times suck, the fees suck, the irreversibility sucks.  You name it, it sucks.  EXCEPT in the dark markets and at the casinos.  Those two places it's great as money and works well.  But try to actually go to a merchant and pay for something with bitcoin.  Not gonna happen in the real world, and I think most people are realizing that fiat money works so much better.

As a store of value, it's great, and if you're a Pakistani worker in the US it's fantastic to send across borders.  I bet most people who do that never, ever actually spend bitcoin.

[bohr]

Bitcoin is supposed to do both but at the moment bitcoin is behaving a lot closer to gold than to cash, also bitcoin has a big weakness compared to cash it is not truly anonymous and that hurts it is usage since if you want to be anonymous you need to use tumbling services.

[pooya87]

it is both,
it has always been both,
it will always remain both or it would no longer be bitcoin.

and that is the beauty of it. you can use it as a currency as it was supposed to from the day it was created, but since it is unique and it is secure and also there is a very limited supply it becomes a good investment too, as gold if you like to call it.

[Schuyler]

The thing with bitcoin is it cannot be boxed as only a kind of digital cash because more people are considering it as an investment so it is as well a store of value. It is both digital gold and digital cash because of the features it possesses but many use it as a form of investment rather than as a payment method, because of the increasing transaction fees associated with it.