Will bitcoin replace gold?

[wxa7115]

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 bitcoin can take away some of the market cap of the gold market, but I do not think we are going to see bitcoin replacing gold anytime soon, people that do not understand bitcoin or that do not want to adopt it are going to keep holding their gold, as time goes on more people will begin to shift their preferences to bitcoin but it is going to be a slow process.

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[chichan13]

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.

Gold was once the greatest measure of money in ancient times because only rich family can have it. This precious metal have significant cultural aspect that cannot be replaced. On the other hand, as new technology emerged, we should adapt our thinking for money. Having bitcoins as money and symbol of financial status in the modern era, is a great step towards the future.

[rayneh]

It'll never replace gold. Gold is rare enough to mean something. But its an alternative. I don't think people would like to base their fiat money on Bitcoin though so gold will still be a backup to your money.

It will replace gold. By the way it has replaced because bitcoin is going very rapidly while gold is going very slowly. Gold is an old era while Bitcoin is new technology even they are launching there new project about gold too. Which is called bitcoingold. Where people will purchase and then sell after the price of bitcoingold increase so we cannot say that bitcoin will never replace gold but it has replaced gold because bitcoin having potential power while gold does not having that power.

[Dexion]

I do not think so, because after all gold will remain a noble item and much preferred to everyone, but in terms of value of course the difference is very far ,, that is, I say that 1 bitcoin can buy many grams of gold, but 1 gram of gold yet can get 1 bitcoin ,, but that does not mean bitcoin will be replaced by bitcoin ,,

[joebrook]

I think this topic had been tossed up as well as criticized many times by the members whenever bitcoin was compared to gold. Bitcoin is something valued upon its usage in virtual world, but gold had been there since ages and IMHO, nothing could replace gold because it holds majority of support as it's something very special as well as precious as a metal being available in the market in less quantity just like bitcoins. Bitcoin can be considered a shadow of gold but can't replace it.

Just like Gold,Bitcoin is an investment and we determine the value of an investment on how much money that it's able to give its investors and currently speaking we know that bitcoin has given its investors more money than that of gold investors have received through the same time.

[androidpobeditel]

It seems to me that investors will consider bitcoin as a substitute for gold, and the fact that the number of available bitcoins is limited makes the currency more attractive to investors. The number of bitcoins will grow slower than the amount of available gold, hence the shortage of bitcoin makes it even more attractive (the object of investment) than gold.

[carlerha]

It'll never replace gold. Gold is rare enough to mean something. But its an alternative. I don't think people would like to base their fiat money on Bitcoin though so gold will still be a backup to your money.

It will replace gold. By the way it has replaced because bitcoin is going very rapidly while gold is going very slowly. Gold is an old era while Bitcoin is new technology even they are launching there new project about gold too. Which is called bitcoingold. Where people will purchase and then sell after the price of bitcoingold increase so we cannot say that bitcoin will never replace gold but it has replaced gold because bitcoin having potential power while gold does not having that power.

I think both bitcoin and gold do not have any thing match. Bitcoin is a virtual currency while gold is not currency, it is an precious element, people are using it for different purpose, bitcoin is some think virtual having no physical body, while gold is physical status. people use gold for saving purposes and making jewelry from it, while bitcoin is a currency and people are using it directly for buying stuffs in online shops, even in some places using bitcoin in local shops also.

[xBitHodler]

Bitcoin can't replace gold. Bitcoin is nothing physical. Some people will always prefer to keep their money in something they can touch. We have limited supplies of gold. It is widely used in jewelry and electronics! I bet that some electronics part of our mining machines have gold in them. Gold will stay with us for a long time, even if Bitcoin becomes more popular.

[S A KHAIR]

we have to understand that gold is a metal and bitcoin is a currency. both have great value. gold has limitation and its price can be regulated. so its value is not real as we see on the other hand bitcoin's price depends on supply and demand.. i can say that gold might be the past but bitcoin is the future.

[Palirai]

If this happens, it will not be soon. It is necessary that people have thoughts and values replaced, and the state will not allow it. But for now.

[btcboss71]

Actually Bitcoin and Gold both are valuable and precious. But Investing in Bitcoin is Better than investing in gold. The price of Bitcoin is increasing day by day and it would be popular too. if you invest in bitcoin and hod it right there for three month then there are high chance to make 2x or 3x profit.

[Wulanayu]

I think bitcoin replaces gold is difficult, because bitcoin is just a digital money that is not shaped and has not been legally recognized all over the world but gold is a real precious metal from ancient times already recognized that gold has a very high value and the whole world admit it, then bitcoin may not replace gold position.
but we just pray the bitcoin exchange rate can match the gold price.

[Cutekittens21]

can you guys tell me,what is the reason behind this comparison ?
Bitcoin and Gold are a different assets,have a different goal and function.
it's totally different and yet you guys comparing it one and another ?
Gold is a precious metal,
and Bitcoin is a cryptocurrency.
based on that alone we should see the difference between one and another.
and why you're asking about will it replace gold or will it replace bitcoin ?
can you guys use Bitcoin as your jewelry ? of course you can not right ?
and can you guys use your gold to pay your bill oversea and use internet to do it ? you can not right ?

it's totally impossible for one of them replacing one another because they have their own function and their own use.
you can not compare it because of their 'colour' or because of their 'price'.

Because currently gold is a store of value and a lot of people also see bitcoin as a store of value. Obviously they are physically different, but both are used as a store of value.

[dedelp01]

Well, Bitcoin is as precious as Gold. The difference is that Gold is too hard to find and can be mined physically and bitcoin is digitally. You know what I mean.  

[khanjan12]

I think this topic had been tossed up as well as criticized many times by the members whenever bitcoin was compared to gold. Bitcoin is something valued upon its usage in virtual world, but gold had been there since ages and IMHO, nothing could replace gold because it holds majority of support as it's something very special as well as precious as a metal being available in the market in less quantity just like bitcoins. Bitcoin can be considered a shadow of gold but can't replace it.

i think bitcoin will not replace gold because gold is the most precious currency in world. our ancester use the gold for the currency.

[Jafri101]

Bitcoin has already replaced gold. Bitcoin has a huge chance of profit rather then Gold. Bitcoins hold a great market capacity and holds a great revenue. Gold is somehow stable on a certain rate but bitcoin has the ability to make you rich.

[maxlimux]

No bitcoin will never replace gold because gold is offline. If there is no internet, you can´t pay with btc. And no terrorists can hack gold.

[farhansadik]

Gold is one of the oldest stores of worth. It has been traded for thousands of years. And bitcoin is one of the most expensive and traded cryptocurrency. Cryptocurrencies seem to have many advantages: they function outside of central banks and governments, give users control over their wealth, and provide a certain layer of anonymity. Bitcoin made the transnational trading too easy. But there is a problem. Some people says that "As it is an online currency, there are some doubt about it's security. So there are so much doubt that the bitcoin will take the place of gold."

[Nilima-Temp.]

gold is one of the most precious metal , we all know that . but in this recent times , bitcoin has almost taken its place. yes gold is indeed a great source, but bitcoin? its incomparable. now a days one bitcoin is equal to almost 5000$ in average , which is quite huge in number. people can easily earn bitcoin by working in different kind of sites. all in all, bitcoin may replace gold.

[bryant.coleman]

First we need to define whether Bitcoin is a currency, or an asset. If we consider it as a currency, then I don't think that it is ever going to replace gold. Because gold is not a currency. Even if we consider it as an asset, there is hardly any chance that it can give tough competition to gold. Because gold is a physical asset, while Bitcoin is a digital asset.