Will bitcoin replace gold?

[Yamifoud]

Never. They're very different anyway. People just say Bitcoin is digital gold because you mine it and it's a great storage of value. Gold, unlike Bitcoins, has inherent value. Gold has been here forever and it's going to stay that way.

Actually they are totally different in many aspects(appearance, value and usage). When it comes into price stability gold is there, while bitcoin are very vulnerable because of it's volatility characteristics. Therefore, bitcoin cannot bitcoin cannot replace gold.

[swiftblade]

Gold is a good conductor. Even in physical realm, gold have direct benefits. That's make gold still better even if its value has  beaten by other commodity

[DewiKirana]

I think bitcoin can only replace gold in terms of investing and saving. Gold can not beat the bitcoin in terms of technology and privacy, but gold has advantages in terms of usefulness to store state assets in addition to paper money. Bitcoin and gold have their respective advantages and disadvantages.

[bololord]

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 will sure that the value of bitcoin will replace gold not for now but soon becuase when you see the value of bitcoin rapidly increasing so if you have a bitcoin you can become rich someday so keep earning and be patience.

[madbyte]

Bitcoin won't replace gold for practical uses but I believe it can replace gold as the new basis of value for currencies.

[bitterguy28]

can't compare gold and bitcoin because both have an own personality and function to the economy in the market gold but bicoin and gold holding for the long term are have profit return investment.

[cryptokitty]

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.

In my opinion both have different value. Gold is valuable, with stable value and can hold you physically. Unlike with bitcoin, it is unstable and you cannot even hold it.

[Ronaldcoin2017]

I think bitcoin cant replace gold in terms of physical  appearance but in the price i think they are almost the same .and the big difference  is that bitcoin price can change anytime.and that will be a good thing to have an strategy of buying ang selling for the investors.i think that was the advantage of bitcoin than gold.because the price of the gold is stock. If you buy gold today it is high price and if you sell it it is also high price so then you cant even gain a profit in case you gain it is only a few amount.

[Getmon]

While I agree that gold is somehow similar to bitcoin in one way or another in that its value is also based on the basic agreement of the people that such a kind of stone is precious, bitcoin is a creation, an online creation which might crumble anytime. Gold is mined physically and the actual use and worth of it is widely accepted since our forefathers.

[ipanks]

i think bitcoin and gold is different and bitcoin can not replace gold because gold have physical form and bitcoin is not. bitcoin and gold is work from different ways and both is the best investment now but people is still considering to buy gold than bitcoin. beside that, the market of gold is different and there is more difference between bitcoin and gold and we can not say that bitcoin will replace gold. but if there an empty supply for gold material then bitcoin can replace gold.

[cryp24x]

I do not think bitcoin will replace gold.  Though they can both compere in which one is better in terms of store of value but both are different entity, once being tangible and the other one being intangible.  There are uses of gold that cannot be replaced by Bitcoin and vice versa.  I think this two will coexist in harmony and there should be no competition between these two.

[maccanak]

in this silly monetary world, im struggling to see how gold is so important......BTC on the other hand.....

[smartbitcoininvestor]

Gold and Bitcoin have completely unique properties when it comes to how they are used as a store of value. Gold is a resource that has been valued by man for millennia and is said to be what humans collected for the ancient gods. Gold also has some healing elements attached to it as well as uses in engineering, chemistry, astrology, and science. Gold is a metal that can be found on other planets and asteroids as well.

Bitcoin, on the other hand, is a human-made creation that must make use of the storage of memory in terms of private keys and wallet encryption. The value of Bitcoin is backed by trust and the users that are on the platform. So, in essence, Gold and Bitcoin are similar in that they are both limited in quantity and wanted by all.

Where they differ is in the ease of access between the two assets. Bitcoin allows for instant transactions across the globe whereas Gold requires expensive protection and heavy cargo. In this respect, Bitcoin is potentially even more valuable than Gold.

[Fuhre]

I don’t think that bitcoin will replace gold, for a number of reasons.
1. Gold doesn’t require electricity to trade and this makes it useful in many situations when bitcoin can't.
2. Bticoin is strictly form of currency, but gold has many other time-tested applications like jewelry, dentistry, electronics.

Maybe you mean gold is good for investment, bitcoin tends to fluctuate while gold is more stable. Some people sell their bitcoin to invest in gold
maybe more precisely like that. I also don't think bitcoin will replace gold.

[no0dlepunk]

Yes, it is possible... it's just a matter of perspective. If you would imagine the future where everything is digital you will realize how possibly bitcoins could replace the purpose of gold. But anyway, it seems impossible for now, same as how impossible to talk to somebody on the other side of the world back in 1800s.

[tiger2monkey]

In my opinion, bitcoin will not replace gold. As an investment product and currency, bitcoin can act like a digital gold and replace some functionalities as gold. However, as a precious metal, gold has other applications (such as jewelry, dental and etc.)

[evader11]

I can't say bitcoin could replace gold because we can find gold outside cryptoworld unlike bitcoin can only found in cryptoworld. But in term of investment I prefer to use bitcoin because its price has a swinging movement.

[stolendata]

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.

In my opinion both have different value. Gold is valuable, with stable value and can hold you physically. Unlike with bitcoin, it is unstable and you cannot even hold it.

Yes that is very right to say that both do not have  any relation, Gold is a precious element while bitcoin is an online digital currency which most of the people are using like fiat currency for shopping and other buying selling, Even now some countries have also start accepting bitcoin in their local shops, In fact they also turn bitcoin as legal currency.

[rhamzter]

I can't say bitcoin could replace gold because we can find gold outside cryptoworld unlike bitcoin can only found in cryptoworld. But in term of investment I prefer to use bitcoin because its price has a swinging movement.

Bitcoin was very famous in digital currency world, but I doubt to the capacity of bitcoin to replace gold. Because gold is one of the precious items that wants by all people, while bitcoin is the future currency of the whole world. I think comparing of this are very high gap difference.

[Loni]

Canada sold off all its gold reserve at the height of cost. There is no dice about purchases renewal.