Is Bitcoin digital gold or digital cash?

[Harlot]

I think that it is both. If you are think of "Gold" as an investment then you are right as many people are investing their money into Bitcoin. And also it is a form of digital cash/currency in which many online shops now are accepting it as a mode of payment together with some well known payment methods such as visa and Paypal. So I don't think that there can be an argument with this one as it can be both, people who can either spend or invest in one currency is possible according to their personal needs.

[Capradina]

At first time i saw bitcoin as digital cash, because of they almost zero fee then nowadays bitcoin not have a cheap fee. But now i prefer to say bitcoin as digital gold or digital assets and it more suitable for future

precisely, the early emergence of the bitcoin I presume that this also as a much better asset to any investment. Seeing from the technology that brought and also the ease with which they provide, provide a lot of great opportunities for all people to use it. so then the price will be much higher and it is almost the same as investment gold. However a much more aggressive and bitcoin also we have to be ready mentally so as not to get a lot of pressure which will make us have many disadvantages.
 

[Warry]

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  

Both of them, I think because we can use Bitcoin for both of purposes of Gold and cash. Bitcoin is really usefull for my life.

[senin]

Bitcoin can be called digital money, but you can not call it digital gold. Gold basically serves as a measure of value. Bitcoin does not perform such a function, and in connection with its virtuality, that is, the lack of materiality, it is possible that it can not perform this function. At the same time, I believe that bitcoin can perform the function of a measure of value, that is, a kind of digital gold for alternative crypto currency.

[xIIImaL]

Bitcoin can be called digital money, but you can not call it digital gold. Gold basically serves as a measure of value. Bitcoin does not perform such a function, and in connection with its virtuality, that is, the lack of materiality, it is possible that it can not perform this function. At the same time, I believe that bitcoin can perform the function of a measure of value, that is, a kind of digital gold for alternative crypto currency.

Bro, please dig any old topics are thread which has comman question and already answered. Then, your assumption about this is wrong. If you are better to invest in bitcoin related businesses it would consider like gold for you.
If you earning in bitcoin related business and just converting into fiat or use as it is regularly means you can consider as digital cash.

[Tubig]

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

It is morelikely as a cash but considered as gold or treated as a a gold by the majority.

[Rove_V]

Bitcoin is digital cash but many people call it digital gold

[wahb]

Bitcoin can be called digital money, but you can not call it digital gold. Gold basically serves as a measure of value. Bitcoin does not perform such a function, and in connection with its virtuality, that is, the lack of materiality, it is possible that it can not perform this function. At the same time, I believe that bitcoin can perform the function of a measure of value, that is, a kind of digital gold for alternative crypto currency.

to me i will say that bitcoin is a digital currency. because now we are able to use bitcoin for buying and selling online. we can use bitcoin for everything to buy online. but in future i am sure that bitcoin will use as fiat currency because in present time bitcoin is already use as for shopping in local shops and the shopkeepers accept bitcoin for shopping there.

[d1ceplayer]

Bitcoin can be called digital money, but you can not call it digital gold. Gold basically serves as a measure of value. Bitcoin does not perform such a function, and in connection with its virtuality, that is, the lack of materiality, it is possible that it can not perform this function. At the same time, I believe that bitcoin can perform the function of a measure of value, that is, a kind of digital gold for alternative crypto currency.

I will little disagree with you. Bitcoin is digital diamond than gold. It’s more precious than gold. Both bitcoin and gold are serving as means of payments and exchange of goods. I believe soon the whole world is going to deal in bitcoins. Its abstract nature makes it easier and safer to use.

[CraigWrightBTC]

Bitcoins right now is be considered as digital gold because bitcoins can be mined is like real gold, but some people consider bitcoins as digital asset because bitcoin's price is always increase day by day. Bitcoins is not digital cash at least at the moments, there are fees transaction sending bitcoins for payment, it is trouble for small amount payment.

[dreamhouse]

Bitcoin is a digital gold due to its limited amount and deflationary feature. Its slowness can't be used for real time trading. But it represents the value, so it is digital gold.

[Yasemin]

Interesting topic! I just read the book "digital gold'' by Nathaniel Popper and some pioniers in crypto are giving their opinion on this subject. Most of them seems to think of bitcoin as digital gold, which I think is just fine, as long as this project stays decentralized in the long term.

[Monnt]

Interesting topic! I just read the book "digital gold'' by Nathaniel Popper and some pioniers in crypto are giving their opinion on this subject. Most of them seems to think of bitcoin as digital gold, which I think is just fine, as long as this project stays decentralized in the long term.

I am not agree with this statement that bitcoin is a digital gold. For the claim of my decision I would like to mention that if you noticed gold has reduced its value although if some one just hold and do not use it. but bitcoin is different its price is growing with the passage of time. Buying gold is just saving your money, while investing in bitcoin is business. You can earn money with bitcoin and not in gold.

[Rishabh riyz]

I consider bitcoins as a digital gold because of the limited amount and can be used as an asset to be profitable in future .
Bitcoin is also an online cash ( digital currency) as people use it to buy in online sites like games on steam and other things .
So we can see that it also depends on person to person that they want to keep it as a investment or as an asset .

[Casabrandy]

I consider bitcoins as a digital gold because of the limited amount and can be used as an asset to be profitable in future .
Bitcoin is also an online cash ( digital currency) as people use it to buy in online sites like games on steam and other things .
So we can see that it also depends on person to person that they want to keep it as a investment or as an asset .

Let's say it's a digital of combination of the two the hold and cash, cash as we can do pay and make transactions online that needs to be paid instantly and as a gold since gold is good for long term investment. Btc can perform well in both categories.

[SiNeReiNZzz]

It's a temporary store of value and a speculative asset.

I don't think it can be called a true store of value unless it maintains 4 digits for 4 years or something because after the 2013 4 digit slam down to 200-300 usd I think anyone who sees it as a true store of value is clueless.


Yes, Bitcoin is relatively stable due to market interest but longterm is a continual unknown.

Well as for me should I say both can do, nothing is for sure but in a long run also I can say it is also one of the best assets to be stored, I didn't even used it as for my day to day currency and in daily transactions, but who knows maybe someday we can officially use it.

[Ronni]

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  

For me bitcoin is digital cash because you will just convert it and you can cash it out right a way in a bank.
Bitcoins are like cash which can be used in different transactions.
Not just like digital gold, you need to process many papers and things in order to cash it out. Bitcoin is way convenient.

[Chrystora123]

i think Bitcoin is The Digital gold that can use as a digital cash to payment some thing in Virtual world , and i make prediction , in future BITCOIN can use as a payment to pay our rent apartement , and some household needs ..

[AdamCooper]

I see bitcoin more as gold than cash. However, if the idea of spending Satoshis gains more recognition, it could be used as cash for small, everyday transactions. It can certainly be used for large cash transactions right now.

[Oxydarck]

I guess that bitcoin digital gold becausr her price so increased nowadays and he can change the life of some people that's why he is like gold and maybe he will be better than gold on future on my mind it's so good to invest on bitcoin .