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andylowe
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January 30, 2018, 07:24:12 AM |
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Gold will always be asset with its own value, oil cannot replace gold, and the gold cannot replace oil, and bitcoin is modern asset, digital one, so it is independent and replacing of the gold is not the aim and concept.
Yes, I agree on you but for me bitcoin can really replace gold. Yes, gold is still there for us but bitcoin right now is really the most popular that it helps many people around the world. Bitcoin's aim is to help many people just like what golds did before. Then why we need to compare the both of them, even they are both helpful to everyone?. But for me, bitcoin can replace gold. It already happen, it already replace gold. |
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chim_brisss
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January 30, 2018, 07:29:02 AM |
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i'm afraid that Bitcoin will never replace gold, i have some idea about that:
- Gold Has Always Had And Will Always Have An Accessible Liquid Market.
- Gold has many other time-tested applications, from jewelry to dentistry to electronics.
- Gold doesn’t require electricity to trade
- Gold remains one of the most liquid assets, traded daily in well-established exchanges all around the globe
So that, i don't think that Bitcoin can't replace Gold
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Tony Long
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A blockchain-powered CDN trading platform
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January 30, 2018, 07:30:21 AM |
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Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter.
I think every thing has its value. Maybe it can apply different fields. However, they maybe reduce its value with the time passing. It is my opinion! |
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lunnatic
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Merit: 250
COMBONetwork
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January 30, 2018, 07:37:28 AM |
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Bitcoin and gold have many differences. Gold is tangible while Bitcoin is digital and if compared is certainly very difficult. If seen from the value Bitcoin is better but for popularity between Bitcoin and Gold i more prefer to Gold. It is very difficult to determine whether Bitcoin will replace gold. On other sice the use of both is very different.
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weblouartisan
Full Member
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Activity: 448
Merit: 100
Lets Go Adab
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January 30, 2018, 07:44:20 AM |
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Bitcoin and Gold both have some specific features in terms of making profit. Gold has been considered the most popular saving tool among the people regardless of nation or community. but the time has been changed, day by day Bitcoin is taking the control over the business platform. people are becoming dependent on the Bitcoin system. so it will replace of the gold in the future.
I agree that bitcoins and gold does have different features since the value of cryptocurrency is depending on the supply and demand in the market while gold has its different version of scaling the value and it was hard to obtain gold more than bitcoins. Bitcoins does not have the chance to replace gold but it does have the capability to surpass its value in the future. |
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yytcoin
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Activity: 112
Merit: 21
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January 30, 2018, 07:51:41 AM |
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Gold will always be asset with its own value, oil cannot replace gold, and the gold cannot replace oil, and bitcoin is modern asset, digital one, so it is independent and replacing of the gold is not the aim and concept.
You're right, I think they confused the purpose and meaning of Bitcoin, the existence of Bitcoin is to make decentralized transactions, anonymous transactions more convenient, it is not to replace gold to exist. |
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chimcoin
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January 30, 2018, 12:23:42 PM |
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Yes i also think that With the two commodities now in roughly the same price range, it's worth putting aside some of bitcoin's short-term volatility and liquidity concerns to compare them as long-term stores of value side by side.
Sure, we might argue bitcoin is newer and flashier, and that it has arguably more utility in the digital era than gold. But, gold has the indisputable track record, having been a cherished store of value for thousands of years across human civilizations.
However, bitcoin's traits have led to those backing the cryptocurrency to believe it could potentially unseat gold over the long haul.
Another key advantage bitcoin has over gold is that its supply level is fixed and transparent – eliminating fears of the typical inflationary pressures associated with overproduction that could diminish the value of the asset, Gold has something very important that bitcoin lacks: a more than 1,000-year history of being a decent store of value. This is very important for trust and people's willingness to store value in that particular asset, Finally, base on these assessment, i think bitcoin may not replace Gold.
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ju5510993
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January 30, 2018, 12:32:41 PM |
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Bitcoin is no substitute for gold, not even fiat currencies.
Like gold and diamonds, they belong to things that are practically useless but rare. Bitcoin looks like it can prevent inflation, though it is fixed in Numbers, but many features seem to be missing.
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marites
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Activity: 112
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January 30, 2018, 12:37:03 PM |
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I don't think so. Gold is very famous or reputed valueable thing in world and uses in century. And have stable price so i think it can't be replace easily.
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jinxing
Member
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Activity: 276
Merit: 11
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January 30, 2018, 12:41:18 PM |
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Bitcoin and gold are an investment although the same has advantages but bitcoin is more profitable and safe. Among the common people choose gold because of the easyness of gold and the process is fast. Over time as technology advances. It could be that bitcoin will replace gold.
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heroic25
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Activity: 73
Merit: 10
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January 30, 2018, 12:48:06 PM |
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what I think both are bit different and their functionality is also very different gold is a expensive metal and bitcoin is type of currency and I think bitcoin will not replace gold because their is no comparison between them.
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kyucryp
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Merit: 100
CAT.EX Exchange
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January 30, 2018, 01:03:07 PM |
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maybe for now, a gold can not replace bitcoin because many people do not know bitcoin and how to get it. and unstable bitcoin prices while gold is very easy to obtain, gold prices are also very stable. but for the future it is not impossible bitcoin will replace gold.
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Gotumoot
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January 30, 2018, 01:43:41 PM |
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Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter.
Bitcoin the value of it surpassed the value of gold so to be precise bitcoin replace gold just price , but it can't replace the gold , gold doesn't have a volatility , and bitcoin has unstable price so its either goes up and downs so basically we can't say , but my other prediction is maybe in future there be no such thing as gold and diamond. |
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nicko122
Jr. Member
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Activity: 462
Merit: 1
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January 30, 2018, 02:13:19 PM |
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Bitcoin loses to gold only in one, it is not embedded in the overall system, but you can pay with gold almost everywhere. But this problem must soon be resolved.
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Anti-Cen
Member
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Activity: 210
Merit: 26
High fees = low BTC price
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January 30, 2018, 02:22:48 PM |
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Keep in mind while gold has a lot of usages, it's utility is not the main factor that drives its value. If governments and private entities wouldn't use gold as store of value, it's price would be nowhere close to current levels.
The next major run on gold/silver is about 3 years away and I was hoping to see it go down so I could stack some more. not even enough silver on the earth for everyone to consume 1oz worth during their life time because its a metal that gets wasted. |
Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
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Anti-Cen
Member
Offline
Activity: 210
Merit: 26
High fees = low BTC price
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January 30, 2018, 02:24:57 PM |
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Bitcoin and gold are an investment although the same has advantages but bitcoin is more profitable and safe.
You do make me laugh  Next you will be telling my that a blown up condom is a boat right ! |
Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
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Pinoyfan
Member
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Activity: 308
Merit: 10
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January 30, 2018, 02:26:37 PM |
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Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter.
For me gold cannot be replaced by bitcoin. In the first place golds are mine from hard form rocks or inside the cave. While bitcoins are mined from virtual technology. Golds are verry precious, it is mold by hundred years while bitcoin is said to be a bubble.But when it cxomes to value, maybe bitcoin can rise as much as gold. |
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Zaarin
Newbie
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Activity: 294
Merit: 0
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January 30, 2018, 02:56:11 PM |
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I don't think bitcoin will replace any lighthearted of local of money or gold. In the decrease, gold yet a premium metal, a monster event and it is a accede of material. bitcoin can be seen as gold 2.0 in internet and price of bitcoin more than gold in general. However, its is on the subject of impossible gold can be replaced by bitcoin. Bitcoin is banned from many countries and i just dream in higher bitcoin can become popular and trendy by giving out.
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CoffeyClement
Newbie
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Activity: 19
Merit: 0
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January 30, 2018, 02:58:46 PM |
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I don't think bitcoin will replace gold.
The number of bitcoins can be determined.
The total amount of gold is uncertain.
Gold is real, and bitcoins are virtual.
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shezu007
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January 30, 2018, 03:04:06 PM |
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Never it is possible that bitcoin can replace bitcoin there are various reasons like
gold is very old asset and there are large number throughout the whole world.
people are using gold not only for trading but also more people like to wear gold.
While bitcoin is still very new and have no such large number of users
while also bitcoin is still not legalize in any country.
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