Is BTC the new gold ?

[luxcoin]

How many times you heard some question ?
But the time goes by and I've been wondering if it really what a BTC today really is.

As we discuss here in the forum everyday, the main reason for BTC not to be taken seriously as digital money like it was invented are:

- its fee cost for lower transaction
- delay and time of the transaction to be approved
- its price that change constantly up
- it's not designed to accept so many transactions

What do you think ?
Do you hold like you holding the gol a decade ago ?

[Emoclaw]

Right now it is. But most of these issues will be solved with future protocol upgrades.
The price isn't an issue. It will come to stabilize at some point. While it will continue to go up, it won't be as volatile.

It's also important to note that all Bitcoin transactions are instantaneous, it's only confirmation that takes 10 minutes. Merchants don't necessarily have to wait for the transaction to be confirmed.
Fees & transaction capacity will most likely be solved with the Lightning Network.

[aplistir]

If someone figures a way to break sha256 hash (and ripemod160) then bitcoin would lose all of its value.

I cant see the same happening to gold. Gold will always remain gold.

[aplistir]

It's also important to note that all Bitcoin transactions are instantaneous, it's only confirmation that takes 10 minutes. Merchants don't necessarily have to wait for the transaction to be confirmed.
Fees & transaction capacity will most likely be solved with the Lightning Network.

You can change your transaction afterwards if it doesn't have any confirmations, so there would have to be trust between the buyer and seller if they do not wait for any confirmations.
But they do not have to wait for 6 confirmations.  That is just a usually agreed number of when it is absolutely safe.

[DaMut]

what is the relation between your tittle and your thread ?
are you saying about gold movement that caused a lot of massive pump a while ago and Bitcoin following its footstep?
or something else ?
if we're comparing Gold and Bitcoin from its uses,i think we made a mistake in here because it's totally different assets.
unless we're talking about 'Value'

- its fee cost for lower transaction
- delay and time of the transaction to be approved
- its price that change constantly up
- it's not designed to accept so many transactions

all of them can not be considered as a problem for massive adoption,
indeed fees and the transaction are the problem lately why would people still hesitated to get into it,
but we have other reason behind all of this which is 'Protection'.
lately we can hear about hacking,that is why many people felt afraid and only some people who know about computer can protect themself from the hackers.
and yes i believe Bitcoin will keep moving upward,soon we will figure out how to solve this problem.

[elie_s]

Btc  is way better then gold
I don't remember seeing 1 ounce of gold equal to 8000k
Bye is gonna change the world currency

[DICO188]

BTC function as storage of value now. Country like Zimbabwe and South Korea purchase Bitcoin rather than Gold.

[MakeMoneyBtc]

I dont think Bitcoin can be compared to gold because gold exists since the planet was created and it is the first currency that people used to trade things. If you would have 1 million dollars that you want to invest and you have the option to invest in gold and the option to invest in bitcoin what you would do? It is risky to invest such a huge amount of money in something that you know it could fall to 0 anytime.

Gold is definitely safer and you have guaranteed profit after 10 years because the price is increasing every year. Also it is known by absolutely every person as a good investment ,that is why the price stays stable and it never goes down because always there is a demand for gold.

[sabrikks]

yes maybe but not the moment because you see Gold is trusted by human being for thousands of years now, and bitcoin is still a new baby born compared to gold

[xBitHodler]

It is much easier to keep bitcoins safe rather than gold which needs special conditions and a secure place. Your private keys can be stored almost anywhere as long as they are encrypted. Also, it is much easier to use Bitcoin for transactions even though the fees are high. Gold storage costs far more than Bitcoin's. Bitcoin has a high chance to replace gold in terms of investment.

[leonair]

Bitcoin will never be Gold, Gold and Bitcoin has two different purpose. Gold is widely used in the world and has many uses aside from being a basis of one country's wealth. Bitcoin can be considered as the gold of crypto currency as it can be the basis of every alternative coin's prices. But bitcoin is too young to replace the current fiat system and needs more development for it to be accepted worldwide.

[ruskytailz02]

then after the 10000 USD markup it will get a new fork I think it says on an article hehehehe..
if that will gonna happen now big advantage for bitcoin transaction.. the given problems up will nearly solve if fork will happen

I dont usually hold but I can consider it as a trading type of holding ahahhahaha.. buying in low price BUT selling in much higher price when prices fluctuates hahahahaha and with that I can hold at the same time having profit ehhehehehe

[jamie1029]

I believe Bitcoin will be the new gold. Forks are a concern, but I've thought about this, and believe the market will value useless forks at zero. As further adoption grows, people will realise Bitcoin satisfies all the use cases that gold is currently used for. I predict BTC is going to go much higher from here.

[rodskee]

Right now it is. But most of these issues will be solved with future protocol upgrades.
The price isn't an issue. It will come to stabilize at some point. While it will continue to go up, it won't be as volatile.

It's also important to note that all Bitcoin transactions are instantaneous, it's only confirmation that takes 10 minutes. Merchants don't necessarily have to wait for the transaction to be confirmed.
Fees & transaction capacity will most likely be solved with the Lightning Network.

truely correct mate we should the bitcoin are very expensive today so no need to ask bitcoin a new gold because the price of bitcoin today more than the price value of gold and i can't imagine bitcoin always comparing into the gold both are have an different indentity in the market.

[jekjekman]

Bitcoin is not shiny and attractive like Gold and in fact it is intangible and can't be seen physically but it has a price of $8,472 while I am typing this post of mine, there is no perfect things in this world though so as Bitcoin is not an exemption for some imperfections.

Bitcoin is subject to upgrade every now and then and that's the job of the developers as they are keep on improving what is the best for it that almost resulted to a never ending Forks, let's just hope for the best as I believe that this transaction issues will be resolve soon. I will choose Bitcoin over Gold though.

[eCrypto]

Maybe

[tientien22]

btc is new gold
In my opinion, btc is new gold, it's like gold now and over and gold, btc is very easy to trade and prices change constantly and fast.
It's more than gold at a lot of points, it's virtual currency but transactional, it's easy and utility

[retampan]

Yes it is.
Bitcoin is the new gold. But gold and bitcoin is a big difference.

[1Referee]

Forks are a concern, but I've thought about this, and believe the market will value useless forks at zero.

Not really. In most cases it's obviously clear that these forks are nothing more than cash grab opportunities for the large holders behind them, and that's really it. I remember how people we're afraid of what would happen at the first of August, but after they noticed that there is money to be made with forks, they can't seem to get enough of them. For that reason I am quite sure that we'll be seeing a whole lot more forks pop up in the coming years, especially now ICO's seem to be experiencing a heavy load of resistance from all sides.

[Pursuer]

gold has value because it is useful. it is not just an asset you invest in and nothing else. gold is being used in thousands of different places. in different amounts and shapes from big size in jewelries to tiny nano particles used in medical technologies.

bitcoin has value because it is useful too. it is not just an asset. bitcoin is useful because it is a currency which is decentralized. has high security and global. of course being cheap is desired but sadly for this short period of time we can not have that. hopefully we will in the near future again like we had low fees before.