Will bitcoin replace gold?

[kashwin663]

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.

no.bitcoin will never replace gold

[Paul stuart]

Never bitcoin will replace gold, already because it is not physical and especially it was not created for that

[marjil]

Bitcoin to replace gold? In what sense?

Both share a common characteristic - they are both a commodity/ currency. But that's where the similarity ends.

The two assets have very different behaviours. Bitcoin is much more volatile (and by definition a greater profit (or loss) potential). Gold was used as an actual currency before we had fiat money in ancient times. Bitcoin has no such history. Gold is a physical asset - it can be stored physically and used to make things like jewellery. Bitcoin is a digital asset and can only be stored on a computerised register in the form of code. It cannot be used to make anything.

Although both can be used as investments, bitcoin has barely scratched this surface. As a store of value, it's too early to say as regulatory control may have a serious impact on bitcoin in this regard. Bitcoin has the potential but not, as yet, the certainty.

An alternative question might be - will bitcoin be adopted in the mainstream in some way or another? Now that is what could be the biggest revolution in history, but that's a big IF at the moment!

[kadutz25]

Bitcoin and Gold both have some specific features in terms of making a profit. Gold has been regarded as the most popular savings among people day by day Bitcoin controls the business platform. And maybe a lot of people are interested and they replace their gold with bitcoin, and bitcoin will replace gold in the future

[anga3636]

It is possible in some countries. Also not possible in some countries. Those who give important for gold it is possible only after they know about bitcoin.

Well that would take time to change and also a lot of people like to wear gold, that wont change ever

[JRoa]

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.

Many investors are now preferred to buy bitcoins than gold. It seems that the bitcoin is now more profitable than gold. The price of the gold is stable but the price of the bitcoin is too volatile. They are using the volatility of the bitcoin to gain more income.

[mx667]

Bitcoin has no such history. Gold is a physical asset - it can be stored physically and used to make things like jewellery. Bitcoin is a digital asset and can only be stored on a computerised register in the form of code. It cannot be used to make anything. Although both can be used as investments, bitcoin has barely scratched this surface. As a store of value, it's too early to say as regulatory control may have a serious impact on bitcoin in this regard. Bitcoin has the potential but not, as yet, the certainty. An alternative question might be - will bitcoin be adopted in the mainstream in some way or another? Now that is what could be the biggest revolution in history, but that's a big IF at the moment!

First of all, we must know that gold and Bitcoin have their own uniqueness and superiority. Gold and silver investing is very profitable if you know how. I never heard the price of gold goes down every year, certainly from year to year always increases and never goes down. Property prices like this can only go down in case of economic crisis we know that it is also rare. Unlike the Bitcoin, to be honest I do not understand what factors make the price of Bitcoin down. But I know one thing, we just need to buy and wait until the price goes up so we can sell it.

[Boysen]

It may seem like a farfetched dream, to see bitcoin replace or shadow gold in the market, howeger, there is a possibility. If bitcoin would have a physical manifestation, if it stabilized, and if it's value remained constantly high all throughout its life. All of this I think is needed in order for bitcoin to have a chance at shadowing or replacing bitcoin in the market.

[dreamer81]

Of course not. Bitcoin is just another asset class that you should hold. Dont think bitcoin can replace everything. It can't replace food either. Think bigger!

[santieevanz]

What made you think that bitcoin will replace gold? In my opinion, it's a NO, because the value of gold never dropped compared to bitcoin's value which has fallen below $8,000 as of now and most of the investors lose a huge amount of money. As the matter of fact, bitcoin has nothing to do with gold because the crypto economy obviously has nothing to do the to our economy. The same thing that both gold and bitcoin has is their potential to increase their own value.

[Wolf of Btrex]

I don’t think for a second that cryptocurrencies will ever replace gold. For one, cryptos are strictly forms of currency, whereas gold has many other tested in time, from jewelry to electronics.

[Derrick]

In the mind and in the wallets of someone it surely has already replaced gold. But generally speaking and long term there is no way it will replace gold ever IMO.

Yeah places where the fiat currency has collapsed cryptocurrency is pretty much the only way out of the mess

[LegendOF45]

This is impossible, bitcoin marketcap continues to decline and now no more than $ 150 billion, while the gold marketcap has reached thousands of trillions so it is impossible if bitcoin replaces gold.

[Spades77]

In my humble opinion, I don't think Bitcoin will even replace gold. Gold is a natural resource that has a lot of functions and being used in different industries as per Bitcoin it is a revolutionary digital innovation that may help the world's economy throough its technology. Both of them are great investment assets, gold as physical and Bitcoin as digital, whatever floats your boat. I don't think either one can replace the other.

[sacred32700]

In this generation with full of new innovations of technology the people create a virtual money to buy things they want and their needs, Bitcoin has a huge chance of probability that it can be replace as gold.

[genset88]

It is impossible for bitcoin to replace gold and vice versa. I think it is naive to think that it would even happen. If you're only basis for bitcoin to replace gold is its value or price then you clearly have the wrong idea here. Both bitcoin and gold has their own perks which the other does not have and if you understand this then that alone is more than enough to justify that one will not replace the other.

Bitcoins can not replace gold, and this is not possible anymore, many people have such thoughts also because gold is a long-standing platform, Bitcoin only appears after gold but can still Gold and Bitcoin prices are very high, but to say that Bitcoin is an excellent alternative to gold is risky.

[bitcoinorcash]

Today, the bitcoin cannot replace that gold in other country because maybe that gold is narative money, but someday theres possibility that gold can replace bitcoin in the future so we jist need to persevere for the bitcoin future, my perspective about bitcoin can increase more bitcoins coz of transaction. 

[adjudicator]

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.

For me, gold and bitcoin is both better in how they are used in their specific usage. They is no mass to each other because they have different usage. Like gold, it can be used in aesthetic and jewelries that bitcoin cant and bitcoin is being used in virtual world that gold cant so they are both grat.

[AliMan]

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.

For me, gold and bitcoin is both better in how they are used in their specific usage. They is no mass to each other because they have different usage. Like gold, it can be used in aesthetic and jewelries that bitcoin cant and bitcoin is being used in virtual world that gold cant so they are both grat.

Bitcoin will never replace gold (vice versa). You are comparing two different things. These two are very different though they both have high equivalent value when you want to sell it. You can’t buy things using gold, but in bitcoin, you can. Gold has no transaction system while bitcoin has. Bitcoin is a currency while gold is a precious metal. Both can be converted into a cash.

[newb-dev]

Gold is more stable than bitcoin at this point so many people consider it safer. In few years bitcoin could pass gold and it will replace it. I really believe this