Please, Stop Calling Bitcoin "Digital Gold"

[soul-impact]

EDIT:
I recently saw a different topic where someone was clearly calling BTC "digital Gold" to avoid facing the reality of high fees and 'merchant despair'. I am now better informed (from this thread) about why people think a "useless" Bitcoin (unusable for small to medium transactions) still has value.
Thanks.
`````````````

I have seen people start to call BTC "Digital Gold" in a delusional attempt to ignore serious issues.
Please pay attention to this fact:
"Bitcoin: A Peer-to-Peer Electronic Cash System" ~Satoshi

BTC is not "Digital Gold" as our founder clearly stated.
Bitcoin is an amazing experiment which is currently on life support, despite the rush of fools who insist on recreating a Tulip Bubble Ponzi Mania.

Please, Stop Calling Bitcoin "Digital Gold".
Thank you.

ps. (Unanswered from a previous thread)
What "store of value" is relevant when suddenly ~ hundreds of thousands of merchants worldwide can no longer accept BTC due to high fees?

True or False?
"Digital Gold" is a BS claim from people who deny the reality of the current crisis?

True or False?
Do you want BTC to be only for rich people?

I totally agree with what you say, I feel aversion when many people say that bitcoin is digital gold, they do not even know the origin and reason and bitcoin exists, they know nothing Most people come to bitcoins with the desire to make a profit, so they often compare bitcoin with gold, even if the value of bitcoin soars, they say that bitcoin has surpassed gold, and now, they call bitcoin as digital gold.

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EDIT:
I recently saw a different topic where someone was clearly calling BTC "digital Gold" to avoid facing the reality of high fees and 'merchant despair'. I am now better informed (from this thread) about why people think a "useless" Bitcoin (unusable for small to medium transactions) still has value.
Thanks.
`````````````

I have seen people start to call BTC "Digital Gold" in a delusional attempt to ignore serious issues.
Please pay attention to this fact:
"Bitcoin: A Peer-to-Peer Electronic Cash System" ~Satoshi

BTC is not "Digital Gold" as our founder clearly stated.
Bitcoin is an amazing experiment which is currently on life support, despite the rush of fools who insist on recreating a Tulip Bubble Ponzi Mania.

Please, Stop Calling Bitcoin "Digital Gold".
Thank you.

ps. (Unanswered from a previous thread)
What "store of value" is relevant when suddenly ~ hundreds of thousands of merchants worldwide can no longer accept BTC due to high fees?

True or False?
"Digital Gold" is a BS claim from people who deny the reality of the current crisis?

True or False?
Do you want BTC to be only for rich people?

I totally agree with what you say, I feel aversion when many people say that bitcoin is digital gold, they do not even know the origin and reason and bitcoin exists, they know nothing Most people come to bitcoins with the desire to make a profit, so they often compare bitcoin with gold, even if the value of bitcoin soars, they say that bitcoin has surpassed gold, and now, they call bitcoin as digital gold.

What? This is just a random string of BS, probably for your sig pay.

The reason why people compare bitcoin to gold is not because they want to make money. Calling something gold does not make it valuable, your argument just logically does not make any sense to me. Bitcoin has a fixed amount that can be ever be mined, just like gold cannot be generated out of thin air. Cash can by a government. A government can manipulate basically every aspect of a fiat currency that is issued by them. The price of bitcoin surpassed gold, so what? It's the mraket capitalization that matters, not individual price.

I really don't see any reason why people can't call bitcoin "digital gold". It's just a nickname - nothing else.

[stompix]

But Satoshi designed Bitcoin to mimic the scarcity of precious metals, like gold.

And Bitcoin is digital.

So

What? When did Satoshi designed bitcoin to mimic gold?

https://bitcoin.org/bitcoin.pdf
Read the title:
Bitcoin: A Peer-to-Peer Electronic Cash System

Bitcoin was meant to be a p2p alternative to cash not digital gold silver or diamonds.

Treat bitcoin as digital gold and you'll end up with digital nothing.
Once you stop using bitcoin in the daily life it will lose all reasons to exist.

Gold is not only used as an investment. There are thousands of uses for it, replace it with other materials and you'll see the value drop like a stone and nobody treating it as an investment anymore

True or False?
"Digital Gold" is a BS claim from people who deny the reality of the current crisis?

Crisis is too much to describe the current situation.
The blocks are still full, transactions are still running a solution is at the horizon.

[BitcoinPricingtool]

Bitcoin isn't digital gold, it's a currency and the fees are getting outrageous right now and reaching PayPal's level of awful (and already exceeded it for small transactions), The fees is an issue that should be solved since it hinder BTC use as a currency.

BTW, I know some people use BTC as a commodity, but even countries recognize it as money "AU", so that pint should already have been confirmed.

[thejaytiesto]

But again: how can you call it cash when eventually the blocksize would be too big to cater for everyone complaining about fees being above $1?
If you want to keep fees under $1-5, which is when most people start complaining, advancements in technology will not catch up quick enough to not end up with datacenters running nodes. And once you reach that point, then it's game over because any global attacker can easily control the network. A perfect gov killswitch. Do we really want that?

seriously you gonna continue harping on with the now 3year old empty FUD script found on reddit.

have you actually noticed that 8mb is now deemed as safe compared to 2009

its devs that are holding things back, not tech
devs wanna push people into corporate hubs and offchain services so they can grab fee's

please do research that its not tech holding things back.. but devs

8MB deemed safe by who? Literally everyone worth listening in the space is against an 8MB blocksize. Everyone I know would drop their nodes because 8MB is simply too much fucking data to bother running a node.

Sorry, no blocksize increase for you. Better luck next time.

[BillyBobZorton]

But Satoshi designed Bitcoin to mimic the scarcity of precious metals, like gold.

And Bitcoin is digital.

So

What? When did Satoshi designed bitcoin to mimic gold?

https://bitcoin.org/bitcoin.pdf
Read the title:
Bitcoin: A Peer-to-Peer Electronic Cash System

Bitcoin was meant to be a p2p alternative to cash not digital gold silver or diamonds.

Treat bitcoin as digital gold and you'll end up with digital nothing.
Once you stop using bitcoin in the daily life it will lose all reasons to exist.

Gold is not only used as an investment. There are thousands of uses for it, replace it with other materials and you'll see the value drop like a stone and nobody treating it as an investment anymore

True or False?
"Digital Gold" is a BS claim from people who deny the reality of the current crisis?

Crisis is too much to describe the current situation.
The blocks are still full, transactions are still running a solution is at the horizon.

The so called "gold use cases" to justify its intrinsic value are greatly exaggerated. Gold is pretty much useless and could be replaced by any other metal with similar malleability and durability, in fact im sure there are cheaper and better alternatives.

Gold is just a good store of value because of its network effect. Bitcoin can become a better one if it survives for a long time.

[stompix]

The so called "gold use cases" to justify its intrinsic value are greatly exaggerated. Gold is pretty much useless and could be replaced by any other metal with similar malleability and durability, in fact im sure there are cheaper and better alternatives.

Gold is just a good store of value because of its network effect. Bitcoin can become a better one if it survives for a long time.

Only two metals silver(?) and copper as far as I remember are better for conductivity in electronic systems.
None of them is even close in terms of resistance to humidity and corrosion and tin is a joke if you try to use it because of toxicity.

Take industrial use from it and let's assume that by some miracle people will be making engagement rings out of platinum and  gold bugs will be lucky to exchange gold to silver 1:1.

But that's not the case in the next decades , and beyond that I don't give a damn

[franky1]

8MB deemed safe by who? Literally everyone worth listening in the space is against an 8MB blocksize. Everyone I know would drop their nodes because 8MB is simply too much fucking data to bother running a node.

Sorry, no blocksize increase for you. Better luck next time.

even core devs deem 8mb ok..

technically there can be issues due to packet handling at 32mb..
then some compromised to 16mb..which the brought up debates about "average internet bandwidth while still doing normal tasks like netflix"

and so many done speed tests and found 8mb is safe. yep even the ones crying about the chinese firewall found out 8mb is actually ok
they also came to this judgement and non-fud realisation that tech has moved on since 2009..
we are no longer in raspberry Pi 1.. its raspberry Pi3 era now
other things like libsecp256k1 and other things have bring the 'happy acceptance' level up

however with core being extra anal accept 8mb as safe but PREFER 4mb .. not because 4mb is minimal happy acceptance, but because they want to be anal with their spoonfed limitations.

oh and before you go back to reddit to find a new scripted fud to spout.. you might want to actually run a node and realise that its not as painfl as you think