Will bitcoin replace gold?

[Afnan_faizah]

No i dont think so. I think bitcoin never replace gold. Each of them has different advantages and disadvantages.
So they will never replace each other.

I agree, there is great possibility after fiat become extinct, bitcoin will only be traded with gold.I think if this happens then the price of gold and bitcoin can be more stable. We will never forget and leave gold. The gold is immortal It is beautiful, useful, and never faded. People are very appreciate gold

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[Farma]

No i dont think so. I think bitcoin never replace gold. Each of them has different advantages and disadvantages.
So they will never replace each other.

I agree, there is great possibility after fiat become extinct, bitcoin will only be traded with gold.I think if this happens then the price of gold and bitcoin can be more stable. We will never forget and leave gold. The gold is immortal It is beautiful, useful, and never faded. People are very appreciate gold

gold has an intrinsic value, which means always used long ago and always has a high price. you are right. people are more concerned with gold for now. but there are times when you can buy gold bars using bitcoin. but of course bitcoin can not replace gold.

[South Park]

I dont think we will ever see that bitcoin will replace the gold. After all, the bitcoin may be still worth a lot during a really big crisis like 3rd world war, but still it is only cryptocurrency so price is mostly about the supply and demand principle. However, gold will always remain its value because it is physical usable in many different ways, and simply mining it is hard and there is limited amount all over the world.
I still think that gold is much way better to save if you want to be secure during the big crisis- if something like that is going to ever happen ( and i think it is possible ).

The concept of bitcoin is linked to gold, you say that gold is difficult to find and to mine, guess what? Bitcoin is also difficult to find and to mine, I’m quite sure that satoshi looked at gold and was an expert in economy and was able to understand that he needed to create something that resembled gold but in a digital form.

[SoakageStar]

Completely accept you. Why substitute some thing. oust and other extremes? People experienced precious metal, bitcoin made an appearance, every single day something new appeared. By the way, cars did not completely substitute farm pets.

[bambazamba]

Gold in general is no better. The value of gold is nothing more than a result of a global consensus

hold it right there...
Gold is not just some shit you extract from earth and trade it to just have value. it has a thousand and one different usages in a wide range of fields. from electronics to medical. and from big (macro) to small (nano) sizes of it is being used.
and the "value" comes from these plus scarcity of it.

But Gold became popular mainly because of its characteristic like being limited in existence and properties which are not possessed by any other material, rest it is just a metal limited in nature. And the same way is Bitcoin it is limited in nature and its popularity is increasing everyday. Gold will be eplaced by some other commodity at some time, there is a possibility that it be Bitcoin or something better than Bitcoin.

[sumitmehra08]

I don't think so for a second that bitcoins will ever replace gold. Why? Because-

1) Bitcoins are strictly forms of currency, gold on the other hand has a wide number of applications from dentistry to jewelry to electronics.

2) Gold doesn't require electricity & an internet connection to trade unlike bitcoins. There are several hurricane-ravished parts of the world like Puerto Rico where 97% of its population is still living without power. Right now people there trade in through cash only. In this kind of situation gold will rule out bitcoins because if you have gold as jewelry or coins, they can be converted to cash without any internet connection and power supply.

3)And According to London Bulletin Market Association(LBMA), approx £13.8 billion  worth of physical gold are traded in London alone every day. The bitcoin market is not quite there yet.

[iluvpie60]

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.

There is a lot of electronics that have gold in them, processors, chips, motherboards, graphics cards and many other things in cell phones.

We need gold and silver to act as semi conductors in the electronics we use, so for that reason(until something else is invented that works as well and is cheaper) we will need to continue to use these things.

Gold/silver demand is relatively stable because there are so many smart phones and computers already out there most people have them in 1st world and now 3rd world counties are getting them slowly. The demand for gold/silver should reach an all time high in the next few decades.

[#K!LL3R]

It might happen in future as Bitcoin is today used by many people and in future it might get more popular and will replace gold.

[PrimeBlackBelt]

No, bitcoin will not replace it. There will always be that one person who prefers gold over bitcoin. Nothing we can do about it.

[ToyotaFortuner]

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.

this can happen but this takes a long time and need security investigation process in bitcoin transactions, all must be checked first all the availability and price stability should be considered.

[8Habits]

No, bitcoin will not replace it. There will always be that one person who prefers gold over bitcoin. Nothing we can do about it.

and the nearest possibility is that they can be both a good investment by anyone of us. At least with the current system and price of bitcoin, anybody can have some piece of it and make it an investment compared to gold where you need to have some money to buy it and invest it for the future. What I meant is that, with bitcoin,  even a little invest, you can already get some pieces of bitcoins like .001 btc and just hold it and have the potential selling it few weeks after with some gains. While gold in the other hand, you need to wait for some time to sell it when the price will go high - however, you have no guarantee that it will be sold out at anytime then.

[eann014]

Nope, gold will remain gold and bitcoin will remain bitcoin.  They are already good as it is. They are both have a potential and value of each other. It is good that we can have them both so when the time that bitcoin will lose its price then we can still have Gold.

[frankybutterin]

gold and bitcoin is different think.
gold is pure treasure, cant decrease little bit. bitcoin is virtual coin that have high price. bitcoin can created by dev and can loss and it cant be use again. so bitcoin or other coin cant replace gold

[OrangeII]

Nope, gold will remain gold and bitcoin will remain bitcoin.  They are already good as it is. They are both have a potential and value of each other. It is good that we can have them both so when the time that bitcoin will lose its price then we can still have Gold.

Well, gold has a value that will never die. even gold has never been replaced long ago. gold has become a very luxurious item, and bitcoin will not replace gold. because gold has a value that is not in possession of bitcoin.

[ice098]

Completely accept you. Why substitute some thing. oust and other extremes? People experienced precious metal, bitcoin made an appearance, every single day something new appeared. By the way, cars did not completely substitute farm pets.

Maybe but i think its depends of people because there are a lot of individuals who wants jewelry and collect it. While bitcoin is become popoular and a lot of who using it, i think is better if you have both, since bitcoin and gold are good to invest but bitcoin is better than gold.

[PointHope]

Gold can be siezed by onerous government motherfuckers.

My bitcoin lives in my twelve keys, fuck the government!

We can now travel around the planet without government pricks inspecting your butt.

[danielcansil]

Bitcoin can never be able to destroy gold, because gold is very popular and be used by people all around the world, moreover gold has visible value and recognized by governments. So bitcoin can not against gold due to those reason.

[jam22]

Maybe after couple of years, cause the value of the gold is slowly decreasing. While the bitcoin is increasing.

[wxa7115]

Don't be silly governments use gold to back up their fiat currencies and the governments will never accept Bitcoin and especially not to back up their existing currency. Gold will always be of value and used in modern times.

Yes that is right that governments are not in the favor of bitcoin and most of them are favoring gold and fiat for their state but as the time passes they will know that bitcoin is a currency which has more power than any other currency or any other asset so in the future it is sure that bitcoin will replace gold in hat matter.

Make no mistake governments hate gold as well, since gold makes them accountable and they cannot spend as much money as they want and they cannot print as much money as they want, that is the way the gold standard began and how it ended, countries felt restrained by gold and they began printing currency lowering the amount of gold they needed to hold for each piece of currency they printed, eventually they abandoned gold and created fiat.

[DIMKAZDS]

Nope, gold will remain gold and bitcoin will remain bitcoin.  They are already good as it is. They are both have a potential and value of each other. It is good that we can have them both so when the time that bitcoin will lose its price then we can still have Gold.

Well, gold has a value that will never die. even gold has never been replaced long ago. gold has become a very luxurious item, and bitcoin will not replace gold. because gold has a value that is not in possession of bitcoin.

Even though bitcoin has escalated over gold in terms of price but still I don’t think that bitcoin is better than gold because firstly, gold is way more popular than bitcoin among teenagers and other age groups than bitcoin. Then gold has way more users than bitcoin. Then gold is more stable than bitcoin its value does not fluctuate whereas bitcoin’s value fluctuate a lot. Then gold is regulated by government whereas bitcoin is not regulated by any government. So because of these reasons bitcoin is not better than gold.