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mikki14
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October 17, 2017, 06:57:13 PM |
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They compare BTC and gold because of it's value. But I think it will never replace gold "literally". Gold has many uses that BTC can't replace. And they're obviously two different things.
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
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bncbnc
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October 17, 2017, 10:41:04 PM |
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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.
It is impossible for bitcoin to demolish gold completely because both are more worthy. Gold has his own importance but it is not to be neglected that bitocin is also competing gold regarding price/value and that’s why people are investing in bitcoin trading instead of gold. Bitcoin is going to become an asset parallel to gold and it is reality bitcoin value is more high than gold but bitcoin just require recognition across the world |
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xbl1008
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October 18, 2017, 12:43:21 AM |
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not because bitcoin is digital and gold have physical features but in terms of value gold can't catch up to bitcoin because bitcoin in terms of value is relatively far from its appreciation level than gold its a much safe haven asset than gold to invest in and bitcoin will continue to grow through the years to come
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entrepmind23
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October 18, 2017, 01:01:26 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.
As what you said, bitcoin or cryptocurrency in general has different features than what gold has. Gold is a physical asset while bitcoin is a digital one so bitcoin cannot replace gold but maybe a different version of it. Both of them can be classified as asset and as store of value and both can be use as payment option but gold has certain limitations compared to bitcoin that is divisible. Though it may look like bitcoin is replacing gold, it may only be to the point of view of cryptocurrency enthusiast because crypto is not yet that known and gold is popular worldwide so crypto has still a long way to go than what gold has already taken. |
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alexsamudra
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October 18, 2017, 01:22:41 AM |
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bitcoin will replace gold in the end, because bitcoin will be boosting new stories next year. bitcoin will be the best of both things, bitcoin is very easy to use for e-transactions for better exchange rates.
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mvgx
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October 18, 2017, 01:37:58 AM |
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bitcoin will replace gold in the end, because bitcoin will be boosting new stories next year. bitcoin will be the best of both things, bitcoin is very easy to use for e-transactions for better exchange rates.
No. Gold is gold, its not only a cash equivalent but has practical application in engineering, medicine, jewelry and so on. |
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overcliff433
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October 18, 2017, 01:41:26 AM |
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That would be impossible or, at least, I don't believe it will. Gold have been the main store of value since forever. People won't change so fast.
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entebah
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October 18, 2017, 01:42:58 AM |
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It can not happen, because the nature and physical shape is different. their functionality is also different. Only the more expensive bitcoins are just that.
but gold still can not be replaced as a valuable item and asset.
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vandvl
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Activity: 154
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October 18, 2017, 02:11:15 AM |
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i think bitcoin cant replace gold maybe the value became same price but the advantage of gold is you can sell without internet conection and the price of gold is not merely and immediately down....
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BigTeeths
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October 18, 2017, 02:14:49 AM |
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It won't happen. Gold is completely different from btc. Gold's form is physical while btc is in digital. We know that gold cannot compete with btc anymore but it still has it's value no matter what happens so we don't need to argue about it being replaced.
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Sithara007
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October 18, 2017, 02:18:51 AM |
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It won't happen. Gold is completely different from btc. Gold's form is physical while btc is in digital. We know that gold cannot compete with btc anymore but it still has it's value no matter what happens so we don't need to argue about it being replaced.
LOL.... Are you saying that gold cannot compete with Bitcoin? Can I ask you to give evidence for your wild claim? Have you ever compared the daily volumes of gold with that of Bitcoins (you need to include derivatives as well). The gold volumes are in hundreds of billions of USD per day (if not in trillions), while that of BTC is less than 1% of that amount. |
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miyong
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October 18, 2017, 02:32:59 AM |
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I dont think so. In the end game Gold is still a precious metal and a beautiful thing in the eyes of a person. Bitcoin is a different story as it is a very good way to make transactions so as for the better currency the bitcoin would be best of two as for my opinion.
YES, Bitcoin is different from gold. Bitcoin is a digital currency that helps us to manage our transactions in an easiest and fastest way and earn a profit as well. A gold is somehow a precious metal that contains a special value. Bitcoin is different from gold so it will never ever replace gold. |
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hajimasan
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October 18, 2017, 02:43:13 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.
Youbare right but still here we can't say directly that bitcoin has more value then gold Because both of them have Thier own essential use at thier own place . Here if the bitcoin will be better thing than gold then surely in this world people will through Thier gold and will buy btc directly , but it is not in actual . Gold is use for the offline saving of the money and also uses for the jewellery and big earners are using it for trading in the offline with fiat money . But here bitcoin have the same advantage but in online , so we can understand well that bitcoin and gold are both of them are better at thier place and no one can replace another . |
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sfireman
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October 18, 2017, 02:49:22 AM |
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I dont think so. Bitcoin is bitcoin. gold is gold. They still can live together
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babarian
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October 18, 2017, 03:02:02 AM |
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although bitcoin prices continue to soar, but I'm sure that bitcoin will not be able to replace the gold position, because gold has its own fan
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budongski25
Member
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Activity: 105
Merit: 10
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October 18, 2017, 03:03:55 AM |
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I think no, and better not.
You can't replace gold with something from digital currency.
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suvo05
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October 18, 2017, 03:05:59 AM |
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We can only compare this two on the basis of there price but can't come to a conclusion that bitcoin will replace gold. They are incomparable in every other field. Gold is one of the most precious metal of the universe and it will exist forever. Whereas bitcoin is a virtual currency.
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Thecoinsignals
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October 18, 2017, 03:06:55 AM |
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JCO05
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October 18, 2017, 03:11:24 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 highly doubt that it will. Indeed, Bitcoin has a much larger market value than Gold, and in the future, it will surely be more expensive. But for the simple reason that Gold is being used through decades and is legal to most of the countries, it will be somehow impossible for Bitcoin to obsolete Gold. Maybe it will be a better investment but Gold will still exist for sure as an investment. |
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Smith871
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Activity: 80
Merit: 11
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October 18, 2017, 03:13:11 AM |
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To me there is no much difference between bitcoin and gold they are the two face of a same coin so if you have bitcoin you can easily buy gold and if you have gold you can easily buy bitcoin .so they will never replace each other they will go side side of each other
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