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DoublerHunter
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October 08, 2017, 12:56:57 PM |
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Bitcoin will not replace the gold because bitcoin is created for the different intention and gold is here a lot of years ago and it is not that easy for bitcoin to replace gold because gold already built a lot of trust for a lot of people in the world so even bitcoin is better than gold, it will not replace gold but it will just add option for the people to where they can invest their money.
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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HasHe
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October 08, 2017, 12:58:26 PM |
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Bitcoin has already surpassed the price of gold much earlier and it is also attracting more gold investors nowadays.But still,bitcoin could not replace gold.
Gold is not only bought as an investment,but also for making ornaments.It has been used for that purpose for centuries.Bitcoin could be only used as an investment instead of gold and bitcoin could not be used for other purposes which gold is used for.
Gold has diversified uses which bitcoin could not and the only benefit that bitcoin has over gold is the very high return which it gives within a small duration of time.
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Ayush rana
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October 08, 2017, 12:59:20 PM |
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In India people invest on gold for their savings but also women use that gold with their wearing. I don't think bitcoin replace gold because gold is a not only a asset but also used by women in there daily life.
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Mazda17
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October 08, 2017, 01:16:35 PM |
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It is impossible for bitcoin to replace gold and vice versa. I think it is naive to think that it would even happen. If you're only basis for bitcoin to replace gold is its value or price then you clearly have the wrong idea here. Both bitcoin and gold has their own perks which the other does not have and if you understand this then that alone is more than enough to justify that one will not replace the other.
I agree with your opinion. That bitcoin can not replace gold, indirectly bitcoin only recently emerged whereas mualai since my ancestors already exist, so the gold value in everyone's eyes can not be replaced. |
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AGD
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Keeper of the Private Key
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October 08, 2017, 01:16:50 PM |
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In India people invest on gold for their savings but also women use that gold with their wearing. I don't think bitcoin replace gold because gold is a not only a asset but also used by women in there daily life.
Hey! I have a gold ring. Does this makes me a woman in India? |
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rodel caling
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October 08, 2017, 01:17:14 PM |
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bitcoin and gold have a defference identity in the market bitcoin here indentity is came from the volatile cryptocurrency and using internet connection as currency while gold identity are natural things that you can touch in reality and gold mining from the natural resources.
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CryptoCoinDevelop
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October 08, 2017, 01:34:03 PM |
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Actually, if take information for big VC and etc, a lot of them will start to invest in Bitcoin after capitalization will be more then $4 trillion. After that investing in Gold will be useless. So, just #hodl  |
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syntac
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October 08, 2017, 01:41:30 PM |
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Yes really bitcoin can replace the role of gold in terms of investment. Bitcoin does have an advantage in terms of investment, it is more profitable than gold investment. But bitcoin can not replace the role of gold as jewelry.
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heppot
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October 08, 2017, 02:08:17 PM |
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look at the price of bitcoin now. thats same like 1 ounce of gold price. i think bitcoin will replace gold. not imposible bitcoin will replace even the diamond in the next future  |
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The Monkey King
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October 08, 2017, 02:13:37 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.
Yes, indeed. Really bitcoin can replace the role of gold in our lives just like in terms of investments. Bitcoin does have a high advantage in terms of its investment and it is also more profitable in bitcoin than in gold investment. But then, bitcoin cannot replace the role of gold as a jewelry to people. But I still prefer the importance of bitcoin. |
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calandra78
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October 08, 2017, 03:40:57 PM |
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I guess bitcoin can never replace gold because gold is more there used to be compared to gold and even bitcoin bitcoin ever had much in common, but similar shape is different. However, its usefulness is the same make people save both if gold is stored at relatively the same in the future and can be used at any time and can be used as savings bitcoin long-term continued high prices in the future.
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ahmad21
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October 08, 2017, 03:44:31 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.
Gold and btc are absolutely separate things and can never b equated. Gold is more of a precious metal which is costly as it is appealing and limited in supply. Whereas btc is more sort of a currency. It could never replace gold in form of a jewelry. Moreover global consensus towards btc might take a few decades. |
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Singbatak
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October 08, 2017, 03:51:10 PM |
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Yes, the bitcoins have replaced the gold. But history and how people use it now can not be changed. With the word yes replaced by the price is actually higher but it's not just a virtual one. It holds it a treasure. So when you have it even one piece is very important. Unlike bitcoins that are a virtual money that does not care about every piece of it.
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elbimbo012
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October 08, 2017, 03:52:17 PM |
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gold is gold bitcoin is bitcoin they exist with different function. i guess no matter what happen gild is better to keep than bitcoin.
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bryant.coleman
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October 08, 2017, 04:34:31 PM |
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look at the price of bitcoin now. thats same like 1 ounce of gold price. i think bitcoin will replace gold. not imposible bitcoin will replace even the diamond in the next future First of all you are comparing with the wrong units. Because you are comparing one coin of BTC with one ounce of gold. These are two different units. If you really want to compare, then you should be comparing the market cap of gold (which is around $7 trillion) with that of Bitcoin (1/100th of that of gold, which is around $70 billion). |
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SummonKing2
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October 08, 2017, 04:39:12 PM |
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I think it's really going to be replaced. But we can not change history. Because this is the earliest money people used previously. So when you have it even if it's just a little piece you really should keep it
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supercanada1
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October 08, 2017, 04:44:11 PM |
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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.
It is right the gold is still very price worth and important but it cannot defeat the bitcoin ever a lot of the people are investing in the bitcoin and the value of the bitcoin is very high for sure. In the future the value of the bitcoin will increase more and more so it is the best time to invest in the bitcoin and wait till the price of the bitcoin will be high and the gold very increase the price as much the bitcoin do. |
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JimmieA
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October 08, 2017, 04:44:25 PM |
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There are quite many of similar topics like this. The fact that btc replaces gold or any other currency will never happen. I think so. In fact, the btc market is not dominated by the gold market. Only the investment conversion of customers. Btc is an electronic currency, and gold can be viewed as a kind of currency store and I think they have no relation to one another.
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jvdp
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October 08, 2017, 04:48:36 PM |
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There are quite many of similar topics like this. The fact that btc replaces gold or any other currency will never happen. I think so. In fact, the btc market is not dominated by the gold market. Only the investment conversion of customers. Btc is an electronic currency, and gold can be viewed as a kind of currency store and I think they have no relation to one another.
Ya agree you .But the price of bitcoin is 10 times greater than a price of gold. As like a gold, many people now inverse Their money in a Bitcoin. So always, bitcoin is better than a gold.The only similarity is the source of investing in it.Bitcoin is better than gold. |
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Akash1243
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October 08, 2017, 05:18:02 PM |
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I don't think so that bitcoins can replace gold or even any currency.But in case of gold, bitcoins can replace gold in terms of investment as bitcoins are great for both long term and short term investment with usually high profits because of its volatile nature while on the other hand gold is long term investment with low profits if compared to bitcoins as hold market is stable.Bitcoins can't replace gold for its physical use as bitcoins are digital coins.Gold will be always use for its appearance.
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