Lei Crypto bounty
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January 02, 2018, 05:07:33 AM |
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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
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"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
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Arcejeff
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January 02, 2018, 05:39:20 AM |
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I don't think so because i didn't try to replace gold we will see in the future.
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lukesimon
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January 02, 2018, 06:06:37 AM |
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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.
I don't think so, there are still lots of people who see gold as a physical investment. it may loosen the value it won't change the that Gold is a real and visible investment. |
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Pintasak
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January 02, 2018, 06:08:56 AM |
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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.
[/quote Maybe some do beleive so but not all.gold is different from bitcoin.gold is a precious metal that everyone aspire to have there own it has a great value to treasure off while bitcoin has its global consencus that made the economy into higher grosser |
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vaughn125
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January 02, 2018, 06:18:13 AM |
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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 agree on some of your statements but not ro all. Yes it is true that gold is natural amd cannot be replaced. But about the price? I don't think so. The way i see it, the price of gold will just increase more and more. Simoly because it is beautiful and people cannot ignore something as beautiful as this. Plus, the scarcity of this item. Which is why i think gold is something that cannot be pinned down. |
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venkateshbk9535
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January 02, 2018, 06:46:01 AM |
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i think it's not possible because Bitcoin is an asset but gold is not like that gold is a metal useful thing we can't hold gold as a cryptocurrency. that's why it is not possible.
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malah
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January 02, 2018, 07:15:59 AM |
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I think bitcoin can not replace gold because not everyone knows about bitcoin and I think bitcoin is not well known in the community so they still think to keep investing in gold
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Kaller
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January 02, 2018, 07:18:51 AM |
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Bitcoin will never replace gold. It is the digital equivalent of gold though. Gold will be here forever too.
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Diced90
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January 02, 2018, 07:18:57 AM |
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No replacements will be happening just because some people refer to bitcoin as digital gold!
Gold already won the hearts of many government for support and doesn't have to struggle with legalisation as BTC is doing, but it will be more popular than gold AFAIK
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kiddddddd
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“Revolutionizing Brokerage of Personal Data”
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January 02, 2018, 07:57:29 AM |
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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.
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. agree with you, I have known many money experts who still believe that Gold is a physical and visible investment whereas we cannot change the fact that cryptocurrency like BTC has already established an impact in our modern world but like what you said it needs to resolve its own issues before replacing anything in the world economy. |
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wxa7115
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January 03, 2018, 02:20:50 AM |
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Dont you think it already replaced the gold? People are buying bitcoin by selling gold.
No, this hasn't happened yet, the market cap of gold is still many times higher than the market cap of bitcoin, the recent pump has shortened the distances between both of them but gold still has a huge advantage over bitcoin, bitcoin will need a few decades to catch up to gold and this scenario assumes gold is going to remain stable for many years something which isn't likely. |
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Diecaut
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January 03, 2018, 10:04:51 AM |
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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.
bitcoin have power and ability to replace gold easy. educated and engineers will use bitcoin more than gold but gold will save it’s place for long time |
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beaver12
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January 03, 2018, 10:57:24 AM |
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Bitcoin can never replace gold. It is just a digital currency that has subjective value whereas gold is a physical commodity. Gold became a status symbol while bitcoin on the other hand can't be worn. Although you can buy gold using bitcoin but gold is still gold.
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doyayipaku
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January 03, 2018, 02:13:34 PM |
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Bitcoins are better than ever-growing bitcoins and are widely available. If the bitcoin trading speed increases, I think not too long will bitcoin gradually replace the gold.
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cryptothreads
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January 03, 2018, 02:17:54 PM |
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At this time Bitcoin is worth more than gold and Bitcoin is being attracted by many investors in recent times. I think instead of keeping gold, it is best to buy Bitcoin and keep Bitcoin for a long time because the Bitcoin price is likely to increase.
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Tszunami98
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January 03, 2018, 02:23:53 PM |
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People have already realised that to own value you dont really have to have a phisical thing. Gold is already starting to lose ground in the battle with bitcoin. Gold is just the first obstacle in front of bitcoin.
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Andika23
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January 03, 2018, 04:04:47 PM |
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in my opinion bitcoin will replace gold because bitcoin prices will continue to increase in contrast to gold gold price will not increase like bitcoin hence bitcoin will be able to replace gold
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avi007
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January 03, 2018, 04:12:37 PM |
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Gold is one of the most liquid assets in existence. You can convert it into cash on the spot, and its value is not bound by national borders. Gold is gold—anywhere you travel in the world, you can exchange gold for whatever the local currency is.
The same cannot be said about cryptocurrencies. While they’re being accepted in more and more places, broad, mainstream acceptance is still a long way off.
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nominee
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January 03, 2018, 04:16:40 PM |
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People have already realised that to own value you dont really have to have a phisical thing. Gold is already starting to lose ground in the battle with bitcoin. Gold is just the first obstacle in front of bitcoin.
People don't see this as a fight between gold and bitcoin because they already know that bitcoin is way different than gold. Gold is physical but bitcoin is rising with its technology. Nothing actually to back it. |
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Rosilito
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Wish for the rain? Then deal with the mud too.
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January 03, 2018, 04:31:54 PM |
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No and it cannot in every reason. First factor is that, bitcoin is not permanent in this world unlike gold even though there are lot of miners, earth continuously produces minerals like golds, that is the biggest difference of gold to bitcoin though the value of bitcoin also continuously goes up but it is just temporary. Well, bitcoin only exist while human continuously grind to earn it unlike gold, it does not even need human to exist, it exist because it naturally exist. Bitcoin value value may go higher than a piece of gold but bitcoin will never beat gold in too many aspects.
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