Is Bitcoin digital gold or digital cash?

[jonald_fyookball]

It cannot be the dominant crypto as digital gold only without being a payment system (digital cash).  

The reason for this is that there is too much competition from other cryptocurrencies.
If Bitcoin can't be useful as widespread payment method, it will lose a lot of demand,
which will lead to lower prices, which leads to less mining revenue, which leads to
less security, and thus taking away the only thing that would make it digital gold
in the first place absent high utility as payment method.  

In other words, why would anyone use Bitcoin when another crypto could offer
high security AND low fees?   I'm sure some people would still use bitcoin even
if it had high fees and slow transactions, but it wouldn't stay on top and have
high security or a high price.

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[thend1949]

We can say it can be both thing when it comes to bitcoins.Bitcoins has the price high like gold but not totally leveled with gold itself.It had characteristic of cadh which can be use in different payment method so for me i consider it as gold online and casg online

[majeed]

Why not both ? S payment system and an asset. An asset because it's like gold and goes up in value. Unlike good a currency too. That can be used to directly ourchase things. Bitcoin is so much more then merely a currency and asset.

I agree that. Bitcoin can be both money and investment. It is a good place for investors to keep there money and save it and wait for the price to go up. There is no inflation in Bitcoin and I can guarantee that the prices will always go up

[Capradina]

Bitcoin is both digital gold as well as Digital currency. One thing that makes it better than the digital gold or digital cash is it's evolution within the system or technology unlike the commodity value. The value has now getting closer to gold and soon it would cross it growing big.

Exactly once. Bitcoin and gold also have differences on the level of use or profit levels obtained. Gold has always had a stable growth and also the advantages are also quite stable so to can benefit greatly need quite a long time. Unlike the bitcoin where at will have tremendous possibilities.When a person already know well bitcoin, then I am sure when they make investments accounting for or already full with ripe then luck or great profit will always be obtained
 
 

[Victor_sueca]

Both probably, it has granularity like cash and it's decentralized like gold

[whizter]

Why not both ? S payment system and an asset. An asset because it's like gold and goes up in value. Unlike good a currency too. That can be used to directly ourchase things. Bitcoin is so much more then merely a currency and asset.

yes that is right that bitcoin has both the characteristic. as in some places where the facilities of bitcoin to be use as currency in local shops is available, there bitcoin is a digital cash, in in such area where people are using bitcoin for investment purpose there bitcoin is just like a gold but the different is that bitcoin has more potential to increase as compare to gold.

[SaShiRaJaVu]

Bitcoin can be termed as an digital asset as well as an digital cash and the beauty of bitcoin is that you can term according to your choice as you can either store you assets in bitcoin or can be used as a digital currency where you can use it as a payment network to send without much hurdle.

[naniutik]

it will always remain both or it would no longer be bitcoin. 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, now bitcoin price it rise up

[CuriousGeorge]

Why not both ? S payment system and an asset. An asset because it's like gold and goes up in value. Unlike good a currency too. That can be used to directly ourchase things. Bitcoin is so much more then merely a currency and asset.

I agree that. Bitcoin can be both money and investment. It is a good place for investors to keep there money and save it and wait for the price to go up. There is no inflation in Bitcoin and I can guarantee that the prices will always go up

"there's no inflation in bitcoin" said peasant who can't read the price chart and spreading bullshit with his lack of knowledge for the sake of spammy post, legend says. Or probably, you don't even know what's inflation do you?

[bohr]

Bitcoin is both digital gold as well as Digital currency. One thing that makes it better than the digital gold or digital cash is it's evolution within the system or technology unlike the commodity value. The value has now getting closer to gold and soon it would cross it growing big.

Bitcoin it is better than gold, while gold can be carried in big quantities with ease you will need to be very lucky to be able to move big quantities of gold over boarders but this is not a problem with bitcoin, you can move huge quantities of it in an USB.

[sorbecys]

At first,bitcoin was used only as a digital currency.Then its value started rising and people found it as an asset instead to invest in a long term basis. In the mean time,bitcoin can be used to buy any products or services and hence it could be also called as Digital cash. 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,

[mystole]

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 . Bitcoin was pseudonymous at best, if you want full privacy there are better altcoins (Zcash, Monero) dedicated to keep your payments confidential.

[romero121]

Recently by the starting of the year made an investment on gold with the same amount nearing to the value of single bitcoin. Now I think if Ihave made the same investment on bitcoin I could have got a 20% profit in a very short time which can never got through any form of investment or buying and holding.

[vinci]

If it cant solve its scalability in the future then it will become like gold

[DoublerHunter]

Recently by the starting of the year made an investment on gold with the same amount nearing to the value of single bitcoin. Now I think if Ihave made the same investment on bitcoin I could have got a 20% profit in a very short time which can never got through any form of investment or buying and holding.

That is a wrong move for you, If you are planning to invest again on a certain stock like gold, make sure that you ask yourself first if what you want, a long and safe investment or a short but volatile and high possibility of profit. Then after you answer that then you can easily choose between those two and you will not regret your possible decision.

[Gens09]

Both bitcoin is a digital gold because you can also mine bitcoin like a gold and that's were the production of bitcoin come from and that where the bitcoin could exist created in mining also bitcoin is also a digital cash as we all know bitcoin is a digital currency so bitcoin is treated like a money but many store dont accept bitcoin yet.

[naidray]

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.

Cash is anonymous only in p2p environment. So you are going to tell me that you are not using any 3rd party service to process your fiat payments?
You don't have a bank account, you receive your wage directly from your employer in cash form, and no one keeps tabs how much you earn?
Bitcoin was pseudonymous at best, if you want full privacy there are better altcoins (Zcash, Monero) dedicated to keep your payments confidential.

Like most I do have a bank account and while you recommended the use of altcoins there is no doubt the lack of anonymity features in bitcoin hurt its usage somewhat.

Right now I don’t think that bitcoin is being treated as a digital gold because most people only get bitcoin and store, unlike regular cash they don’t earn and spend it, they treat it as a type of an investment much like people are investing in gold, so my ideas is that bitcoin is going to surpass gold and become the new investment to go with.

After years, when bitcoin will be having stable prices, it may turn as pure digital cash. In between times, we will be having users who will be using bitcoins as both digital cash and digital gold.

[btctousd81]

its great analogy, i think, its more like virtual gold .

[krishnapramod]

There is digital gold currency or DGC or e-gold which is somewhat equivalent to digital cash. On the other hand bitcoin ain't digital gold, but digital cash. Compared to bitcoin, digital gold definitely has much more stability. But as digital cash, bitcoin outweighs DGC because apart from being an investment it cannot be used for wider purposes.

[doaremon]

It can be called digital gold. Gold value changes over time, so is the bitcoin. Its more than just virtual currency. It gives us opportunities to earn more and different ways. In the near future, I don't see any obstacles, which can harm its value. But not sure about long term like 50 or 100 years.