Will bitcoin replace gold?

[Mumbeeptind1963]

This is similar to asking ‘Will the US dollar replace gold as the standard store of value for investors’.

Most people (even myself at times) are making Bitcoin an A vs B proposition, when really it’s an A + B + C. You can invest in Gold, Silver, Bitcoin, Oil, the Yen and so many more ‘standard stores of value’ right now.

Bitcoin isn’t replacing any major store of value, it’s giving another option.

If we are making a comparison in between bitcoin and that of gold from the market value perspective, then bitcoin had defeated gold and is far ahead of gold. In fact, bitcoin is far better than that of gold in number of other ways like that of investing of money as well. Gold was a good way of making money but now most of people are busy in investing their money into bitcoin instead of gold.

Maybe because bitcoin is much higher value than gold but gold is good to invest because it will also grow its value and continuously rising. And has potential to be your another source of income if you invest to good loje bitcoin.

[terang93]

Bitcoin can't replace gold at all. Gold is the stable valuable thing and bitcoin is the most volatily thing in the world beside with altcoins.

I believe you are right. Gold is the safe haven in case bad things happen in the world. Bitcoin on the other hand is quite volatile which people love to trade.

Yeah but people are really interesting on making the profit. So that's why they love Bitcoin so much than gold.

[daxkie]

No! definitely not. gold is still gold it is known one of the precious things in the world and an ancient currency even now it is still a currency base on its present value and it is a tangible things but the bitcoin is different story because it is a digital currency that becoming a famous digital currency in the world

[Darklinkz]

Gold is not made by humans and cannot be replicated and it's from natural resource and that's what makes it valuable so it will not be replaced by bitcoin. But I do believe it will become very cheap because of btc.

[Hanako]

You can have profit in bitcoin rather than gold.  Much safer if we can use bitcoin as we said . Bitcoin is cant be stolen from you.  The value of the bitcoin is increasing while on gold the value of its still the same. Bitcoin can get a lot more money. But it cant replace to gold. Gold is famous other than bitcoin.

[8Habits]

You can have profit in bitcoin rather than gold.  Much safer if we can use bitcoin as we said . Bitcoin is cant be stolen from you.  The value of the bitcoin is increasing while on gold the value of its still the same. Bitcoin can get a lot more money. But it cant replace to gold. Gold is famous other than bitcoin.

Both (bitcoin and gold) are really a good investment but the latter needs some long term investing compared to the former where anyone could have a fast increase of its value and become instant rich in the process

[Ethernel]

Hmm. I don't think Bitcoin can totally replace Gold. Bitcoin only have value in trading but Gold still has value in many other sides. For example you think in a wedding can Bride and Groom give each other Bitcoin instead of Gold ring? LOL. Beside Gold can use to create false teeth, face mask and use for interior decoration....

[Netnox]

Gold is not made by humans and cannot be replicated and it's from natural resource and that's what makes it valuable so it will not be replaced by bitcoin. But I do believe it will become very cheap because of btc.

I would agree with the first part of your post, but I will have to disagree with the remaining. If you have any doubts, then you can compare the gold and Bitcoin prices side-by-side. You can see that there is absolutely no link between the exchange rates of both the assets. In 2017, when Bitcoin prices increased by 1,300%, the gold prices were more or less stable.

[Momoamzad]

Gold and bitcoin is different asset from each other . you can reserve both gold and bitcoin. Both will bring you  profit.  But bitcoin is more profitable than gold for me. 

[8Habits]

Gold is not made by humans and cannot be replicated and it's from natural resource and that's what makes it valuable so it will not be replaced by bitcoin. But I do believe it will become very cheap because of btc.

I would agree with the first part of your post, but I will have to disagree with the remaining. If you have any doubts, then you can compare the gold and Bitcoin prices side-by-side. You can see that there is absolutely no link between the exchange rates of both the assets. In 2017, when Bitcoin prices increased by 1,300%, the gold prices were more or less stable.

Gold investment is really up for a long term in order to profit bigbut it is seems not that much of investing to bitcoin because in just very short period of time, your money can go very high and even doubling your investment to it in no time at all.

[bigvito19]

Nothing will replace gold, I don't think nothing will replace btc, they're both in 2 different classes.

[Barbut]

Nothing will replace gold, I don't think nothing will replace btc, they're both in 2 different classes.

That is the most truthful comment in this thread, they can't replace each other cause they are two different classes and they represent two different things. Value of one and other is determined by different laws, and the trade is made on different places. Gold have limitations in online world, but thatbis the place where bitcoin can give and do much more. World is already digital, bitcoin will have its purpose in that kind of world more then gold, but in physical world gold will have higher value.

[8Habits]

Nothing will replace gold, I don't think nothing will replace btc, they're both in 2 different classes.

Yes, they can be both a good investment to add to your portfolio though. We should never miss the opportunities like these to invest as much as we can and as early as we can because the more invest early, the more we reap our profit real soon.

[fishball]

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 might missed that it's human nature to value more the tangible one. Gold has it's own legacy and perks so I don't like it comparing with bitcoin. Those two have established differences in this modern world. And as far as I can see, cryptocurrency has still to resolve its issue before "replacing" anything in world economy.

[krky]

Why would Bitcoin replace gold? they're both working on different areas and i see no reason or point of bitcoin replacing gold at all.

[Freddyclose]

gold is a safe haven, bitcoin is an investment where you need the internet to trade it, in case of war the bitcoin will be worth nothing, gold a lot.

[BingoDog]

Somehow O don't see bitcoin and gold in the same category and the option that bitcoin will replace gold.
To my opinion there will always be bitcoin people and gold people, or ones who are more for new technologies and cryptocurrencies and those who prefere traditional and more secure investment options like gold. In that sense I don't think that bitcoin is competition to gold.

[Granxis]

If we consider the price, Bitcoin has exceeded the price of gold ounces. But if we think more broadly, Bitcoin is never physically used, so it can never replace gold. Because gold is used in space and dentistry, gold is a very good conductor. For this reason it is frequently used in the electronics sector.

[Lei Crypto bounty]

Will bitcoin replace gold?

in my opinion Gold is still a physical existing product get from digging some on earth ground than a bitcoin mine thru computer algorithm virtual world, gold can never be replace by some virtual not existing product, it is not a good parameter to compare the bitcoin to gold , it is far equate in reality gold is still more valuable than bitcoin because it does exist on our world and it is measured of one state richest because it is real and existing product , while bitcoin is an computer program that don't exist on our real world only on vitual world yes , but never it can be compared Bitcoin to Gold.

don't be mistaken Im a pro and an investor on Bitcoin but reality is far better than virtual things.
still there's more to look forward on the growth of bitcoin.

- Lei Crypto Gray

[Arcejeff]

I don't think so because i didn't try to replace gold we will see in the future.