Is Bitcoin digital gold or digital cash?

[Reid]

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.

Agree with you.
Depend on the person that will use it. I know some people that are just using it for paying bills and other stuff.
Some use it as an investment and some think of it as real money which is just like fiat.
There is no wrong with this choices. It will just depend on each one what they think. I also think there is no right answer here, we have our own opinions.

[DoublerHunter]

I always see BTC performing one of the most important functions of money, to be store of value over time. Exactly like gold but better, let s say gold 2.0.
In addition, one can consider BTC being an investment vehicle as well, it s easy to invest and differentiate your investments into various projects.

I really do not think BTC will ever become classic currency, this is something other faster and more developed alts might become.

I agree with you that bitcoin is the second version of gold but a better one because it is digital and cheap in fees and also anonymous because we don't need to expose our self just to do transactions. I also agree that bitcoin will not be the classic currency because there is a lot of altcoins in the market that are keep coming which they improved some of the features of bitcoin.

[Vaskiy]

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.

Agree with you.
Depend on the person that will use it. I know some people that are just using it for paying bills and other stuff.
Some use it as an investment and some think of it as real money which is just like fiat.
There is no wrong with this choices. It will just depend on each one what they think. I also think there is no right answer here, we have our own opinions.

It depends on the users as quoted by most of the users. In the early days users preferred it for all the gambling needs and for illegal usage. Meanwhile little by little people started considering it as an value storage token and now with the growth its been getting popularity as an investment.

[n2004al]

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  

As for me bitcoin is simply money and not simple money but strong money. In the meaning that it serve to buy everything that can be paid (first) but even a money that in time will have increase in value. So, in other words, serve to pay now but even to be put aside in order to have much more valuable things in the future from it. Then if you call it with several other names but who aim to secure the above functions that depends only from you.

[BitcoinHunt3r]

for me bitcoin not more that payment. this is just personal opinion and don't take it deep but for me bitcoin help me with pay something that i need and never save it for long time

[clickerz]

Right now Bitcoin is not a Gold, It is presently used known as digital currency /virtual currency. Which is commonly used for online payment and can also be use for dong trade in the market, due it has the value that makes the company attracted by it features and the simple usage of bitcoin. Therefore, bitcoin is already better and greater than Gold.

I agree with this explanation,bitcoin is in its own league while gold lead in its own. Bitcoin was invented to be utilized up its needs in this changing times in this virtual world. Now, bitcoin is even expensive than gold, it already surpassed it.

[AngryDwarf]

Now, bitcoin is even expensive than gold, it already surpassed it.

Really? I though the price of gold was about $40m/ton.

[ViceOfBTC21]

It's both. You can use bitcoins to pay for goods and to store value. For some people bitcoin is only way to pay over the Internet and for some it's method of wealth protection. In some countries, prices of official currencies are more voilatle than bitcoin. For me, it's method of buying games over the net.

[vasrasus]

It's both. You can use bitcoins to pay for goods and to store value. For some people bitcoin is only way to pay over the Internet and for some it's method of wealth protection. In some countries, prices of official currencies are more voilatle than bitcoin. For me, it's method of buying games over the net.

Its all right, these how bitcoin works,a lot of way and benefits can be made using bitcoin. For me it is a way to earn and to save at the same time. I can earn extra and monitor my bitcoin the way I wanted it.

[loges]

Bitcoin is a store of value for me like gold so its an digital gold for me as I never spend them and save it for future hoping that price will go much higher in coming years which will allow me to become rich with my investments.

[Creepings]

It's both. You can use bitcoins to pay for goods and to store value. For some people bitcoin is only way to pay over the Internet and for some it's method of wealth protection. In some countries, prices of official currencies are more voilatle than bitcoin. For me, it's method of buying games over the net.

Yes, but still,most people use paypal or their credit cards because the confirmation of the transaction is taking a lot of time as always. Usually we can't still buy goods using bitcoin here in our country, so we just store them and earn profit with them. So for us it is a digital gold.

[Baby Dragon]

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 think bitcoin is digital cash because you need a wallet to store your bitcoin and if bitcoin is digital gold how can you store it.Some people say that bitcoin is a electronic or digital money.

[fullypak]

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 think bitcoin is digital cash because you need a wallet to store your bitcoin and if bitcoin is digital gold how can you store it.Some people say that bitcoin is a electronic or digital money.

Yup Bitcoin is a digital cash we need some wallets to store Bitcoins. And we don't have other option to store bitcoin. If it is digital gold, then the storage process will change. And yes it is electronic money we need internet to access this digital currency. without internet we can not access it so we call it BTC is a digital currency.

[n0ne]

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 think bitcoin is digital cash because you need a wallet to store your bitcoin and if bitcoin is digital gold how can you store it.Some people say that bitcoin is a electronic or digital money.

Yup Bitcoin is a digital cash we need some wallets to store Bitcoins. And we don't have other option to store bitcoin. If it is digital gold, then the storage process will change. And yes it is electronic money we need internet to access this digital currency. without internet we can not access it so we call it BTC is a digital currency.

It has several characteristics. It depends and vary based on the user who make use of it. Most users prefer it as an investment and as a value storage token through which faster transaction in less time too can be done. On the whole bitcoin is simply a success of an innovative technology that can be used anywhere to make functioning effective.

[zahra4577]

Just as digital cold is a digital version of gold,bitcoin,we can say,is the digital version of cash.
Although it is irrelevant to compare bitcoin with anything as bitcoin is a unique concept.

[Karmakid]

Its not gold and not even close on being crypto worlds own version of gold in real market on the physical world,its simply a digital cash that still cant be use on each payment processor and merchants around the world

[Dimelord]

Bitcoin could be both termed as Digital cash and Digital gold.Satoshi created bitcoin as a digital currency to make people transact money without help of banks.In the mean time,bitcoin value grew very fast and many people  started to buy bitcoins as an investment which would give good returns.They started to buy bitcoins instead of gold and hence it could be called as Digital Gold.but at the same time,bitcoin could be used to buy goods.Hence,it could also be called as Digital cash.

[stomachgrowls]

I considered it as both things because we do know about bitcoin it serves as digital cash because we can able to use it on purchasing things online and other payment options that do accept bitcoin which is really great and also its also a digital gold considering on its moving price which is can be also served as an investment just like gold.Its price do increase and also deflates.

[secdark]

Bitcoin could be both termed as Digital cash and Digital gold.Satoshi created bitcoin as a digital currency to make people transact money without help of banks.In the mean time,bitcoin value grew very fast and many people  started to buy bitcoins as an investment which would give good returns.They started to buy bitcoins instead of gold and hence it could be called as Digital Gold.but at the same time,bitcoin could be used to buy goods.Hence,it could also be called as Digital cash.

You are right sort of the two is the same because it is both digital means online or technology so it only matters with digital cash or gold though if we are talking about cash sort if it is small amount unlike gold sort of big a large investment to earn. On the other hand they are both the same because of the price right now , the price is big, sort of nice investment and also nice to earn some it to make it with your own fiat

[Inkdatar]

Bitcoin is difgital cash were sending and receiving is fast and easy to process. Were people attracts into use of bitcoin because of its advantages to users.