Will bitcoin replace gold?

[dupee419]

Bitcoin is volatile and the value of bitcoin is always changing very quick so bitcoin cannot replace gold why? Because the value of gold is stable and if you will buy a 1 gold you can't get a profit but in bitcoin there's a chance that you can get so for me it will never happen that the bitcoin will replace as a gold

[zzz163519]

I don't think BTC will replace gold in the future, gold has it own value Rare metal, and people love gold.

[buxle]

impossible; gold is commodity and being decreased because of its industry usage.

[juanecon]

Gold also has intrinsic value as a currency. It is durable, easy to distinguish and trade and its scarce.

[Kezio]

Yes bcos bitcoin is more good than gold for our future bitcoin can give us big profit than gold.

I don't think it's really about how much you can profit from either one, but the power struggle between the two economic concepts over the market.

[prehisto]

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.

You have good point, only the gold is physical. And this more appealing to people since they trust something that they can see or touch, understand not some kind of mystical digital currency.
Not to mention that Gold also could be a bubble because there is more gold bought and sold in exchanges than there have been ever mined.

[prehisto]

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.

You have good point, only the gold is physical. And this more appealing to people since they trust something that they can see or touch, understand not some kind of mystical digital currency.
Not to mention that Gold also could be a bubble and partly scam because there is more gold bought and sold in exchanges than there have been ever mined.

[triettman]

Bitcoin will neither replace gold nor fiat money and all these three types of value storage and payment method will continue to exist separately in future.

[goku1525]

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.

You have good point, only the gold is physical. And this more appealing to people since they trust something that they can see or touch, understand not some kind of mystical digital currency.
Not to mention that Gold also could be a bubble and partly scam because there is more gold bought and sold in exchanges than there have been ever mined.

When it comes to gold is that people have a complete trust in gold, gold has been around since the dawn of civilization and it has helped us to create a functioning society. Gold is not a currency, it is a precious element which is also use for making jewelery, people also use bitcoin for saving their money. But bitcoin is a digital cryptocurrency and we use this such as online payment in peer to peer transactions which we were anonymous.

[Valentina N]

Hello people! Hello author! I think it will be two groups of fans bitcoin and gold or whatever. I think better for all people will be when people have choose in life what they want use cash or crypto. I think no it's no replace but will be two different investment field and categories of fans!)

[minldem]

These are the two separate things.

Bitcoin and other crypto currencies are the new era of the digitalized world currency system I think. Gold has been always the tangible asset and will be in the future but the goal of use can change. Still, bitcoin would not replace it, but can serve as more useful tool in trade and investment.

[An0nyMoose]

In the last post I literally just explained how someday, just like gold used to back fiat currency - Bitcoin will back all electronic transactions and thus it will be worth millions per Bitcoin. Probably $5,000,000 per Bitcoin I would say.

[flyingcat]

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.

You have good point, only the gold is physical. And this more appealing to people since they trust something that they can see or touch, understand not some kind of mystical digital currency.
Not to mention that Gold also could be a bubble and partly scam because there is more gold bought and sold in exchanges than there have been ever mined.

When it comes to gold is that people have a complete trust in gold, gold has been around since the dawn of civilization and it has helped us to create a functioning society. Gold is not a currency, it is a precious element which is also use for making jewelery, people also use bitcoin for saving their money. But bitcoin is a digital cryptocurrency and we use this such as online payment in peer to peer transactions which we were anonymous.

In the opinion of every people, Gold is the proof to prove the richness. The world's economy also used Gold to calculate the richness of every country on the world. So, the supporters of Gold is better than Bitcoin. Bitcoin is still an asset very new in the society.

[Vikingr]

Bitcoin can never replace gold...because gold is gold..i will always prefer gold as first priority of investment rather than bitcoin...bitcoin is also quite profitable but almost everyone is aware about gold as compare to bitcoin...so the investment in gold is much more than bitcoin..

Your thinking is wise that intelligent and wise people will always attract to Bitcoin by its beauty. The gold is the profit able asset. But now it is use as jewelry. Bitcoin has many advantages over the gold that Bitcoin is secure investment. You have no need of bank lockers or any other to save your gold. The price of Bitcoin is increasing more rapidly than gold. So it is very simple that Bitcoin will replace gold in near future.

[rasho321]

Let me put it in perspective:

If you own one Bitcoin, that means there can only be 20,999,998 other people in the world who have more Bitcoin than you. Given that there are many people who own thousands of bitcoins, that means there will be significantly less people who can ever have more money than you.

I don't know exactly how wealthy, but if Bitcoin ownership becomes a big thing for tech, where companies like Apple, Google, and others want to hold onto Bitcoin as bragging rights (we own 12% of all Bitcoin, look how cool we are), then Bitcoin won't follow pricing rates associated with a gold market cap or anything, it will be its own economic ecosystem, and it will be HUGE.

[nyong]

no, because bitcoin can't be a jewelry like a gold

[nesh1]

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.

You have good point, only the gold is physical. And this more appealing to people since they trust something that they can see or touch, understand not some kind of mystical digital currency.
Not to mention that Gold also could be a bubble and partly scam because there is more gold bought and sold in exchanges than there have been ever mined.

When it comes to gold is that people have a complete trust in gold, gold has been around since the dawn of civilization and it has helped us to create a functioning society. Gold is not a currency, it is a precious element which is also use for making jewelery, people also use bitcoin for saving their money. But bitcoin is a digital cryptocurrency and we use this such as online payment in peer to peer transactions which we were anonymous.

In the opinion of every people, Gold is the proof to prove the richness. The world's economy also used Gold to calculate the richness of every country on the world. So, the supporters of Gold is better than Bitcoin. Bitcoin is still an asset very new in the society.

I do not agree with you because you cannot compare gold that is something in real life with bitcoin that is actually internet money i believe they both could be not compared at all.

[bountyjunkie]

They are different. No direct relation whatsoever. So far surge of bitcoin has not dented the demand for gold.

[Siddela Sarat Kumar]

This will be a question of debate for years to come. But if I were to answer your question I would say yes , bitcoin will go on to replacing gold and all the currencies.

[BlackBird13]

I don`t think BTC will ever replace gold, as it has no intrinsic value that gold has. In addition, gold is one of the safes ways of investments, specially during volatile times.