Gold Is Yesterday, Here Comes Bitcoin As A Reserve Currency

[cynical]

Peter Thiel – PayPal co-founder and billionaire venture capitalist, for a long time now has been a backer of the virtual currency Bitcoin. Thiel did again indicate out the ‘real potential’ of BTC at the Investment Initiative in Riyadh, Saudi Arabia, pointing out that people are truly underestimating it.

Peter Thiel has long been one of the early proponents of Bitcoin. As early as 2013, he stated that Bitcoin has the potential to change the world. As one of the co-founders of PayPal, he recognized the ability of Bitcoin to revolutionize the monetary space. He had long held the view that monetary sovereignty’s time is limited and encrypted money would be the future. Earlier Peter Thiel did comment on how Bitcoin unlike PayPal, was really able to create a currency.

Bitcoin BTC could very well be the virtual gold of our time and replace it as a reserve currency – according to Peter Thiel. Many ‘similarities’ were compared between the two by Thiel like it is mineable and its limited supply.

“It’s like a reserve form of money, it’s like gold and it’s just a store of value. If Bitcoin ends up being the cyber equivalent of gold, it has a great potential left.”

On the other hand, Peter did not really have any enthusiastic feel about the other virtual assets and altcoins which could be discouraging for altcoin followers which have put their hopes for most part of the year on them.

While Peter Thiel is pretty bullish on the potential of Bitcoin, in Riyadh, a certain Saudi prince has a different view. Prince Alwaleed bin Talal, the richest Arab in the world, believes that Bitcoin will implode like Enron. While Bitcoin trading is allowed in Saudi Arabia, the Saudi Arabian Monetary Authority has warned people about the risks of investing in Bitcoin. The Middle East is a region teeming with billionaires and if Peter Thiel has managed to convince a few people to invest their oil-dollars in Bitcoin, the price of Bitcoin could receive a boost.

http://ethereumworldnews.com/gold-yesterday-comes-bitcoin-reserve-currency/

Tired of "is bitcoin is a bubble"?

Now you can enjoy the wonders of "is bitcoin a reserve currency"?  

On a serious note, it is possible bitcoin could eventually become a reserve currency to replace gold. This paradigm could represent the natural evolution of cryptocoins with limited supply if it is established that limited supply and algorithmic based regulation are best methods to promote stability and long term value.

Would be interested to know public opinion on this. Would people feel safer having bitcoin as a reserve currency than they would having fiat like the dollar or euro as reserve?

i think this is happening already, i have seen articles here on this forum about regular investors turning to bitcoin.
The world is slowly turning to bitcoin as a reserve currency like gold was and still is.
Personally i dont see a problem with it especially in these financial times which are uncertain

[tobs]

On a serious note, it is possible bitcoin could eventually become a reserve currency to replace gold. This paradigm could represent the natural evolution of cryptocoins with limited supply if it is established that limited supply and algorithmic based regulation are best methods to promote stability and long term value.

Would be interested to know public opinion on this. Would people feel safer having bitcoin as a reserve currency than they would having fiat like the dollar or euro as reserve?

I wouldn't go that far. However, if many people decided that they want to consider bitcoin as a stable reserve for the future, it would become such. I mean, cryptocurrency market doesn't seem to apply with regular market rules and in my opinion crypto investors are the ones to decide what the price is going to be. I mean now, bitcoin has no actual usage, yet it's so valued.

[trinhdinhthang20007]

On a serious note, it is possible bitcoin could eventually become a reserve currency to replace gold. This paradigm could represent the natural evolution of cryptocoins with limited supply if it is established that limited supply and algorithmic based regulation are best methods to promote stability and long term value.

Would be interested to know public opinion on this. Would people feel safer having bitcoin as a reserve currency than they would having fiat like the dollar or euro as reserve?

I wouldn't go that far. However, if many people decided that they want to consider bitcoin as a stable reserve for the future, it would become such. I mean, cryptocurrency market doesn't seem to apply with regular market rules and in my opinion crypto investors are the ones to decide what the price is going to be. I mean now, bitcoin has no actual usage, yet it's so valued.

If there is demand, when the demand for using BTC is large enough, there will be an infrastructure system that will serve as the paper currency when it first arrives.

[dmamigo]

I don't have any gold. I never felt attracted to it and I don't know what people see in it. I always prefered things that look nice and have a purpose, like watches. Gold bars are just so crude. Bitcoin on the other hand is easy to handle and store, easy to hide and doesn't degrade. You just can destroy it, it's forever. I'm waiting for the first country to accept it as a currency. What will it be? Zimbabwe maybe?

Mostly people who buys it, does it for investment purpose, just as many are doing for Bitcoin. As a investment option Gold still as a good option, but the rate of interest is too low. And there are various Gold investment instruments which is not tangible and doesn't degrades. But Bitcoin is changing everything now I believe, more people who are investors are shifting daily towards Bitcoin because it has more perks than Gold for sure.

[keenjester]

I don't have any gold. I never felt attracted to it and I don't know what people see in it. I always prefered things that look nice and have a purpose, like watches. Gold bars are just so crude. Bitcoin on the other hand is easy to handle and store, easy to hide and doesn't degrade. You just can destroy it, it's forever. I'm waiting for the first country to accept it as a currency. What will it be? Zimbabwe maybe?

I think everything have their own threats, like golds can be stolen by a real thiefs , access your house, take your golds and maybe could kill you after that. With bitcoins, the threats are hackers, they could find the way to access your private key and BOOM, your bitcoins are gone.

[jak3]

Let me think Bitcoin as a reserved currency sounds interesting. As we know where Bitcoin has the total amount of coins on the network is 21 million and the world's population is probably much bigger than this they already cannot have a larger amount of coin. So this will cause a huge impact on the Bitcoin price as we can see already. Bitcoin has to break into smaller units.

[Alpinat]

yeah bitcoin is kinda reserve currency. many investors from the gold too. they are reserving their money for their future life because for sure the bitcoin will be the highest value of all time , and will be know by all people and invest on it,

[jaysabi]

Peter Thiel – PayPal co-founder and billionaire venture capitalist, for a long time now has been a backer of the virtual currency Bitcoin. Thiel did again indicate out the ‘real potential’ of BTC at the Investment Initiative in Riyadh, Saudi Arabia, pointing out that people are truly underestimating it.

Peter Thiel has long been one of the early proponents of Bitcoin. As early as 2013, he stated that Bitcoin has the potential to change the world. As one of the co-founders of PayPal, he recognized the ability of Bitcoin to revolutionize the monetary space. He had long held the view that monetary sovereignty’s time is limited and encrypted money would be the future. Earlier Peter Thiel did comment on how Bitcoin unlike PayPal, was really able to create a currency.

Bitcoin BTC could very well be the virtual gold of our time and replace it as a reserve currency – according to Peter Thiel. Many ‘similarities’ were compared between the two by Thiel like it is mineable and its limited supply.

“It’s like a reserve form of money, it’s like gold and it’s just a store of value. If Bitcoin ends up being the cyber equivalent of gold, it has a great potential left.”

On the other hand, Peter did not really have any enthusiastic feel about the other virtual assets and altcoins which could be discouraging for altcoin followers which have put their hopes for most part of the year on them.

While Peter Thiel is pretty bullish on the potential of Bitcoin, in Riyadh, a certain Saudi prince has a different view. Prince Alwaleed bin Talal, the richest Arab in the world, believes that Bitcoin will implode like Enron. While Bitcoin trading is allowed in Saudi Arabia, the Saudi Arabian Monetary Authority has warned people about the risks of investing in Bitcoin. The Middle East is a region teeming with billionaires and if Peter Thiel has managed to convince a few people to invest their oil-dollars in Bitcoin, the price of Bitcoin could receive a boost.

http://ethereumworldnews.com/gold-yesterday-comes-bitcoin-reserve-currency/

Tired of "is bitcoin is a bubble"?

Now you can enjoy the wonders of "is bitcoin a reserve currency"?  

On a serious note, it is possible bitcoin could eventually become a reserve currency to replace gold. This paradigm could represent the natural evolution of cryptocoins with limited supply if it is established that limited supply and algorithmic based regulation are best methods to promote stability and long term value.

Would be interested to know public opinion on this. Would people feel safer having bitcoin as a reserve currency than they would having fiat like the dollar or euro as reserve?

Another label to argue over! Haha, I share your facetious take on this. I think a legitimate hindrance to trusting Bitcoin as a reserve currency is the arbitrariness with which it currently operates. We are about to have our third hardfork in very recent memory where some group of people who think they have the answer to bitcoin's problems will be splitting off and attempting to claim the mantle Bitcoin has built. That type of instability and uncertainty about the future makes it impossible for Bitcoin to become a reserve currency.

[cybersofts]

Bitcoin is the new gold 2.0 -  the age of solid gold is over, now is the time virtual gold to endure.
Bitcoin was invented as a digital currency that is fast, secure, fully decentralized and to be acceptable worldwide.
Due to those features of bitcoin - bitcoin becomes the most valuable asset on the planet, if not even the whole solar system.
Because of that people are now buying and selling bitcoins for profit which turns out to be the most profitable traded currency ever.
    

[centralbanksequalsbombs]

Peter Thiel – PayPal co-founder and billionaire venture capitalist, for a long time now has been a backer of the virtual currency Bitcoin. Thiel did again indicate out the ‘real potential’ of BTC at the Investment Initiative in Riyadh, Saudi Arabia, pointing out that people are truly underestimating it.

Peter Thiel has long been one of the early proponents of Bitcoin. As early as 2013, he stated that Bitcoin has the potential to change the world. As one of the co-founders of PayPal, he recognized the ability of Bitcoin to revolutionize the monetary space. He had long held the view that monetary sovereignty’s time is limited and encrypted money would be the future. Earlier Peter Thiel did comment on how Bitcoin unlike PayPal, was really able to create a currency.

Bitcoin BTC could very well be the virtual gold of our time and replace it as a reserve currency – according to Peter Thiel. Many ‘similarities’ were compared between the two by Thiel like it is mineable and its limited supply.

“It’s like a reserve form of money, it’s like gold and it’s just a store of value. If Bitcoin ends up being the cyber equivalent of gold, it has a great potential left.”

On the other hand, Peter did not really have any enthusiastic feel about the other virtual assets and altcoins which could be discouraging for altcoin followers which have put their hopes for most part of the year on them.

While Peter Thiel is pretty bullish on the potential of Bitcoin, in Riyadh, a certain Saudi prince has a different view. Prince Alwaleed bin Talal, the richest Arab in the world, believes that Bitcoin will implode like Enron. While Bitcoin trading is allowed in Saudi Arabia, the Saudi Arabian Monetary Authority has warned people about the risks of investing in Bitcoin. The Middle East is a region teeming with billionaires and if Peter Thiel has managed to convince a few people to invest their oil-dollars in Bitcoin, the price of Bitcoin could receive a boost.

http://ethereumworldnews.com/gold-yesterday-comes-bitcoin-reserve-currency/

Tired of "is bitcoin is a bubble"?

Now you can enjoy the wonders of "is bitcoin a reserve currency"?  

On a serious note, it is possible bitcoin could eventually become a reserve currency to replace gold. This paradigm could represent the natural evolution of cryptocoins with limited supply if it is established that limited supply and algorithmic based regulation are best methods to promote stability and long term value.

Would be interested to know public opinion on this. Would people feel safer having bitcoin as a reserve currency than they would having fiat like the dollar or euro as reserve?

Another label to argue over! Haha, I share your facetious take on this. I think a legitimate hindrance to trusting Bitcoin as a reserve currency is the arbitrariness with which it currently operates. We are about to have our third hardfork in very recent memory where some group of people who think they have the answer to bitcoin's problems will be splitting off and attempting to claim the mantle Bitcoin has built. That type of instability and uncertainty about the future makes it impossible for Bitcoin to become a reserve currency.

Bitcoin has always obliterated scammy competition attempting forks....doesn't sound like that is changing anytime soon. Or do you not believe in market forces? Perhaps you would rather have your bank appoint some central group of people to oversee an organization that'll decide what assets or what companies survives and what fails?

[BartS]

i think in out there, people still believe and trust with gold because they are familiar with gold only and only few of them that know bitdoin is exist. i think if there are many people is join and many of them adopt bitcoin, perhaps bitcoin will be use as gold too. but when there is no appreciation for bitcoin and people is still using gold, then bitcoin can not defeat gold.

Gold has a very long history and we know from that, that gold is a great store of value and under some circumstances a great investment as well, so it is not really a surprise people keep trusting in gold, however bitcoin is slowly becoming noticed by more and more people as they realize that bitcoin can be a great investment and the best thing is that you do not need to do a lot in order to get spectacular profits, the only thing you need to do is to buy it and hold it.

[wilwxk]

Bitcoin have a good future, but in the current situation of cryptos and the high volatility of the price makes the reserve currency concept very hard, and when we are talking about the gold, the gold have a physical protection in the price ( there is a limit of the exploration of it ), bitcoin have too, but its only protected by the code, and with the fast growth of the technology, its easily to think we cannot create a artificial gold than the ccollapse of the bitcoin by the quantum computers. This is my opinion.

[pikebu]

Yes, the government of countries must addopt the bitcoin as a reserve currency because  More People Search ‘Buy Bitcoin’ Than ‘Buy Gold’ the search term “buy Bitcoin” is now more frequent than “buy gold,” adding insult to injury for gold after an ounce began to cost less than one BTC for the first time this year. Unfortunately many the government of countries still close their eyes with bitcoin and band usage of bitcoin without learning about the bitcoin and evaluation about the system of fiat currencies.

[alexzorgo]

Still early to compare bitcoin to gold. Gold has thousand-year history. It will serve as means of accumulation, especially at conservative people for a long time. More safely than gold for a long-term investment people invented nothing yet. For the governments and their central banks it is one of the main methods of concentration of monetary assets in the long term. Bitcoin in comparison with gold just the baby, the newborn. He didn't get on feet yet, helplessly flounders, is unpredictable, unstable.Transformation of consciousness of people about bitcoin will take 20 years a minimum.   

[JL421]

gold is really outdated it has been decreasing since the previous years its better to hold more of bitcoin than gold both are liquid assets and both are investments but if you compare the best one bitcoin is surely going to win easily

[BartS]

it looks like the golden era is coming to an end, throw away and sell immediately the gold we have and then switch to bitcoin, then a month we can get profit more than 20%, everything is up to you.

If you were talking about fiat I will agree but gold is still a good investment, it is true that it has not given too much profits in the last years but most of the people that hold gold are not looking to get the profits like the ones that bitcoin can generate, they are just looking for a store of value and the money they earn by holding gold it is just a bonus to them.

[BabyBoss]

Peter Thiel – PayPal co-founder and billionaire venture capitalist, for a long time now has been a backer of the virtual currency Bitcoin. Thiel did again indicate out the ‘real potential’ of BTC at the Investment Initiative in Riyadh, Saudi Arabia, pointing out that people are truly underestimating it.

Peter Thiel has long been one of the early proponents of Bitcoin. As early as 2013, he stated that Bitcoin has the potential to change the world. As one of the co-founders of PayPal, he recognized the ability of Bitcoin to revolutionize the monetary space. He had long held the view that monetary sovereignty’s time is limited and encrypted money would be the future. Earlier Peter Thiel did comment on how Bitcoin unlike PayPal, was really able to create a currency.

Bitcoin BTC could very well be the virtual gold of our time and replace it as a reserve currency – according to Peter Thiel. Many ‘similarities’ were compared between the two by Thiel like it is mineable and its limited supply.

“It’s like a reserve form of money, it’s like gold and it’s just a store of value. If Bitcoin ends up being the cyber equivalent of gold, it has a great potential left.”

On the other hand, Peter did not really have any enthusiastic feel about the other virtual assets and altcoins which could be discouraging for altcoin followers which have put their hopes for most part of the year on them.

While Peter Thiel is pretty bullish on the potential of Bitcoin, in Riyadh, a certain Saudi prince has a different view. Prince Alwaleed bin Talal, the richest Arab in the world, believes that Bitcoin will implode like Enron. While Bitcoin trading is allowed in Saudi Arabia, the Saudi Arabian Monetary Authority has warned people about the risks of investing in Bitcoin. The Middle East is a region teeming with billionaires and if Peter Thiel has managed to convince a few people to invest their oil-dollars in Bitcoin, the price of Bitcoin could receive a boost.

http://ethereumworldnews.com/gold-yesterday-comes-bitcoin-reserve-currency/

Tired of "is bitcoin is a bubble"?

Now you can enjoy the wonders of "is bitcoin a reserve currency"?  

On a serious note, it is possible bitcoin could eventually become a reserve currency to replace gold. This paradigm could represent the natural evolution of cryptocoins with limited supply if it is established that limited supply and algorithmic based regulation are best methods to promote stability and long term value.

Would be interested to know public opinion on this. Would people feel safer having bitcoin as a reserve currency than they would having fiat like the dollar or euro as reserve?

Bitcoin os decentralized. It has great future and we all know about it. I think about after 5 years bitcoin will be the main digital currency in the coming future. Actually gold is always there but it is no longer use by all but their is few. But we can see gold is still but not totally big earnings.

[palle11]

It has become obvious that Gold has been relegated to the background lately with the emergence of bitcoin. Bitcoin to me is a veritable means to store and reserve currency.

In fact, currency stored as bitcoin has the potential of being valued more than the actual amount in the future with the rate that bitcoin is moving and increasing.

[jaysabi]

Peter Thiel – PayPal co-founder and billionaire venture capitalist, for a long time now has been a backer of the virtual currency Bitcoin. Thiel did again indicate out the ‘real potential’ of BTC at the Investment Initiative in Riyadh, Saudi Arabia, pointing out that people are truly underestimating it.

Peter Thiel has long been one of the early proponents of Bitcoin. As early as 2013, he stated that Bitcoin has the potential to change the world. As one of the co-founders of PayPal, he recognized the ability of Bitcoin to revolutionize the monetary space. He had long held the view that monetary sovereignty’s time is limited and encrypted money would be the future. Earlier Peter Thiel did comment on how Bitcoin unlike PayPal, was really able to create a currency.

Bitcoin BTC could very well be the virtual gold of our time and replace it as a reserve currency – according to Peter Thiel. Many ‘similarities’ were compared between the two by Thiel like it is mineable and its limited supply.

“It’s like a reserve form of money, it’s like gold and it’s just a store of value. If Bitcoin ends up being the cyber equivalent of gold, it has a great potential left.”

On the other hand, Peter did not really have any enthusiastic feel about the other virtual assets and altcoins which could be discouraging for altcoin followers which have put their hopes for most part of the year on them.

While Peter Thiel is pretty bullish on the potential of Bitcoin, in Riyadh, a certain Saudi prince has a different view. Prince Alwaleed bin Talal, the richest Arab in the world, believes that Bitcoin will implode like Enron. While Bitcoin trading is allowed in Saudi Arabia, the Saudi Arabian Monetary Authority has warned people about the risks of investing in Bitcoin. The Middle East is a region teeming with billionaires and if Peter Thiel has managed to convince a few people to invest their oil-dollars in Bitcoin, the price of Bitcoin could receive a boost.

http://ethereumworldnews.com/gold-yesterday-comes-bitcoin-reserve-currency/

Tired of "is bitcoin is a bubble"?

Now you can enjoy the wonders of "is bitcoin a reserve currency"?  

On a serious note, it is possible bitcoin could eventually become a reserve currency to replace gold. This paradigm could represent the natural evolution of cryptocoins with limited supply if it is established that limited supply and algorithmic based regulation are best methods to promote stability and long term value.

Would be interested to know public opinion on this. Would people feel safer having bitcoin as a reserve currency than they would having fiat like the dollar or euro as reserve?

Another label to argue over! Haha, I share your facetious take on this. I think a legitimate hindrance to trusting Bitcoin as a reserve currency is the arbitrariness with which it currently operates. We are about to have our third hardfork in very recent memory where some group of people who think they have the answer to bitcoin's problems will be splitting off and attempting to claim the mantle Bitcoin has built. That type of instability and uncertainty about the future makes it impossible for Bitcoin to become a reserve currency.

Bitcoin has always obliterated scammy competition attempting forks....doesn't sound like that is changing anytime soon. Or do you not believe in market forces? Perhaps you would rather have your bank appoint some central group of people to oversee an organization that'll decide what assets or what companies survives and what fails?

Well in case you haven't noticed, the US financial system under the aegis of the Federal Reserve happens to be functioning quite well, and the gold standard was abandoned because of the handcuffs it put the economy in.  As for hard forks, I'm all for letting the market decide the must useful speculative coin asset. But every joker group trying to split off of btc with a new hard fork isn't producing anything particularly useful at this point, and the infighting between groups is likely to be more harmful than not. As for what is the more useful reserve currency, it's not even close. Bitcoin loses in a landslide to the USD. Could change in the future, but I doubt it based on how things are progressing.

[Kelvinid]

gold is really outdated it has been decreasing since the previous years its better to hold more of bitcoin than gold both are liquid assets and both are investments but if you compare the best one bitcoin is surely going to win easily

Yes i agree.Bitcoin is much more profitable today compared to gold since its value is clearly increasing rapidly.Gold may be considered a good investment too but its value is still very low for the past previous years,not unlike bitcoin that even just a single of it can already push you to build a simple home.