Will bitcoin replace gold?

[ralph_0608]

Of course not gold is gold and bitcoin is bitcoin they exist in two different dimension. gold exist physically while bitcoin exist virtually. but currently bitcoin is more expensive than gold and id the golden coin of the modern technology

[Snub]

No cryptocurrencies or fiat can't replace gold because they depend on factors like government's, electricity, internet, but gold doesn't depend on it

[harbin55]

In terms of its value, I think bitcoin can replace the gold. The excellent performance of the company and management of bitcoin brings them a great outcome; wherein every bitcoin values morethan $17,000.00 which is more expense than gold.

[Sir Paijoe]

I think it's impossible, as we know that 100% of people on planet earth know and accept gold while no more than 1% of people use bitcoin, it takes a miracle to replace gold.

[sorin90]

I think gold can't be replaced, because of it's ise in real life, at least not by a cryptocurrency, maybe another material. Even if cryptocurrency will evolve a lot more then today, and be more stable, materials like gold will be always a good reserve to trade and make assets.

[shiv06]

Bitcoin and gold have diffrent future in term of making profit. Bitcoin is a digital cryptocurrency. it is not stable because bitcoin price value up  and down and bitcoin is taking the control over business platform.Gold is a precious metal gold is use making jewellery. so will bitcoin replace gold in future.
 

[Sifat33]

Gold and bitcoin both are important for us. Both are different.but everything have good price. We need both for our regular life.

[watchbay30]

can not replace gold. Gold is a rare metal. and they can not be replaced. The value of gold has been accepted by people

In my opinion, that will actually depend, while gold have many uses basically jewelries and to electronics, mechanical etc. bitcoin only act as a currency which is the main purpose of it. But bitcoin is gaining value because of its use and the support of the community. It is really just digital money though you can trade it for gold or other stuff the value only increase if there is support. If there is no transaction using bitcoin then it will not gain. On the other hand gold have many uses but still the value depends on the community that is supporting gold. For example if these people do not see gold as Gold like they see it just as bronze or silver then the value will decrease. My point is the people decide which have more value.

[Hasbro27]

I think bitcoin will not replace gold, because gold is physical and bitcoin is not physical, and bitcoin can not be made into jewelry like gold. my opinion bitcoin could replace money

[GreenBits]

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 feel your rhetoric, but consider how we have reached both of these price consensuses. bitcoin price is the fodder of so much soeculation, and none of us can disagree that this much price advancement in such a short time carries a high risk of pain for participants. but the price of gold? a consensus yes, like all markets, but the price of gold is based in its utility. you can sell gold as a product, not just a speculative asset, because you can actually use the chemical properties of gold, for various ends. so the price actually derives off of the average consumer price of products containing gold. basically, it has a known markup.

bitcoin. not so useful if you are buying something on the internet.

[virtualkeybuyer]

I believe bitcoin won't replace gold. Because, bitcoin is not always recognized through the wider neighborhood. While gold can be recognized by the community.

Many people seeks bitcoin than gold because it is easy to find and earn from bitcoin rather than gold. But still gold will not replace by bitcoin because there is use of gold that bitcoin has not. Bitcoin and gold has different characteristics and functions that cannot be raplace by each other.

Yes investors now consider Bitcoin as substitute of gold. Gold has its own value and demand. Specially, for ladies it plays very important role in their lives. In the view of investment gold is good but Bitcoin’s price is going up and up speedier than gold. Bitcoin has another property that it is not physical so we have no need of banks to safe it. There are no extra fees and taxes for Bitcoin it is safe and secure on internet. I believe that Bitcoin is better investment than gold.

[virtualkeybuyer]

You cant just compare apple with orange
Gold is a safe haven, the most stable for of investment in any situation even at war
While btc is more like a speculative investment, with higher profit of course

The current price of Bitcoin is far away from the past price of Bitcoin. So Bitcoin proves that it is the better asset than gold or any other thing. The investment in Bitcoin will return a lot than the gold. So investors which are purchasing gold are now come on Bitcoin and investing their money on Bitcoin. So I believe that Bitcoin will replace gold in near future. All the investors will prefer Bitcoin rather than gold.

[PandaMiner]

I dont think that Bitcoin can replace Gold. Gold has own value in thousand years and it is different with Bitcoin. They can replace each other role in the economy

[VINCEAKTN]

I think portability is the greatest gold asset. You can move a lot of wealth with a relatively small amount of gold. And gold is easy to keep, and relatively easy to hide.

Bitcoin has the same features. You do not even need to smuggle gold to avoid government detection. The ability to move digital money opens new avenues for criminals or people who are afraid of government detection to be able to transfer money seamlessly.

Thus, we can conclude that the competitive advantage of gold has been lost and makes bitcoin superior. This causes bitcoin to potentially replace gold

[Mjeramirez]

I think in terms of purely talking about investments, yes bitcoin may actually replace gold, we have seen this year that bitcoin has already overtaken gold in terns of value, bitcoin the the other hand still has to prove that it is not just temporary but is here to last

[Kezio]

From my perspective, both can work side by side covering different areas of the global economy. Just think about it for a second, having gold cover the trading value of goods, whereas Bitcoin covering the financial part.

[brontosaurus]

You think one can wear bitcoin while going to a party? In which context can you compare gold and bitcoin they are two absolutely different things. Here have a look at growth chart of gold While here is a chart depicting growth made by bitcoin over its life span is . You can see how sharply has bitcoin rose. This is simple to make you realize that how different they both are from each other. Gold isn't a currency anymore nor is it used as something to back currencies.

[Jafri101]

If yoy are talking bitcoin as an asset then yes it has already replaced gold to great extent. People nowadays happily hold bitcoins rather then gold because of its price and profit.

[Ckaven]

I don't think so.Glold has other function, such as jewelry and furniture. People do not use gold to make deal. Bitcoin may help the transcountry deal.

[chacha66]

Its hard to believe it will replace gold. I think they are to different things that have some similar uses. Gold is a store of wealth (similar) but it is used in products (jewelry) and manufacturing technology.  Bitcoin is something people believe in as a store of wealth and a means of sending it. Gold cant be sent in the same way . (in large amounts )
No threat to each other  really : )