Is BTC the new gold ?

[hajimasan]

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 ?

Yeah , bitcoin is not designed to accept multiple transaction because the fee that will needed to pay during to pay to another take much fee ( which depends upon the input and output of the transaction of the bitcoin ) .
Well here we are in that field of technology to handle the money where we have no limit to control our money at worldwide level with the internet connection .
When the price of the bitcoin was very low comparable to the price of the gold then people were saying that it is like the gold which is better for the future if we have hold it now , but after the increase in the price at what place we are we can see clearly .
Here we can consider that

bitcoin is made for the worldwide Transaction .

For Better investment any worldwide project .

For better way to manage the money .

Future of the casinos , Because easy to place bet and easy to deposit and withdrawal .

So ,Here overall we can't consider bitcoin as a gold but can be consider as diamond

[luxcoin]

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.

That the main problem. I mean if you haven't such a confirmations how can you sell the product and be sure the customers will pay you ?
Look at the way it is right now: when you swipe a credits card it does not take more than few seconds to be confirmed and anyway the can refund you if something happen after the moment of confirmation. But this is not what is happening right now with BTC. And as merchant I cannot wait the next bock to be sure I get paid if it will take more than what now it's taking.

[Joylee]

Yeah it is.. But better than gold,  It may not be shining but it Worth 100 times more than gold.

[luxcoin]

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.

I hope they will solve this problem too buddy.
As for now, we cannot consider it as digital currency but something like investment as was gold a few decades ago. That's what I meant.
Why do you think it became adopted by massive people ?
I do not think they chose it for its feature of payments like it was first intended to do.

I totally agree instead about the poor knowledge we have about protection of our data, and how the internet-thing in general really works. So hackers will continue to live because of the ignorance of the folks out there who do not know anything about computer stuff.

[gamerfan]

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 ?

Yes, maybe Satoshi was a bit naive to think Bitcoin would have been a sort of digital cash.
Right now it undoubtely more like digital gold. Something quite difficult to transfer, rare and with its price rising up. It's not only a deflationary currency, it is an asset which lead to long-term holding and not everyday spending.

[romero121]

Even no people won't give priority to bitcoin similar to that they give for gold. This is all because of the lack of awareness, and in specific people wish to get an assurance for their investment in terms of security. Bitcoin has achieved a level, but the same doesn't have the potential to give the security. So, the users who trust it consider it as a gold, whereas the rest just prioritize gold.

[luxcoin]

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

That's true. I hope we can change the way it is seen and spread all over the world. But for now everyone see it as form of investments and not in a payment way.  

[luxcoin]

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.

Great point of view mate. Even I think forks as speculators see them as free money added to their portfolio will not defiantly solve the problem because the BTC is currently the most known and the first to its kind and despite all the forks it continues to have all the issues unless the agreement of the community of implementing and modifying such a core issue like mentioned before not with a fork but within the BTS itself.

[luxcoin]

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.

It's definitively what really is !
Great point buddy, I see the same of you.

[TheGreatPython]

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

Lol, The importance of the bitcoin or any other investment cannot be judged by its age. Age as we all know is just a number and it is not necessary that the one which is older is more beneficial or wise.

In short, you really need to get your facts straight about bitcoin because it is the new gold of this era and this is the only reason people are switching to bitcoin from gold for long term investments. Gold is no more an attraction for investors.

[luxcoin]

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

Lol, The importance of the bitcoin or any other investment cannot be judged by its age. Age as we all know is just a number and it is not necessary that the one which is older is more beneficial or wise.

In short, you really need to get your facts straight about bitcoin because it is the new gold of this era and this is the only reason people are switching to bitcoin from gold for long term investments. Gold is no more an attraction for investors.

Great points.
It makes no sense to talk about how old is a thing and compare such thing with a good and wise tool.

I mean, look how many thing has changed only in a few months that are disruptive and more efficient: aren't they good?
Just because something is quite new ( we are taking anyway about something that has with a almost 10 years) does not mean that isn't excellent

[HiringYou]

I don't think that comparing BTC to gold make sense .Both are two different investment assets with different features.The main reason due to which BTC is different from gold is it's volatility.There are a lot fluctuations seen in it's price whereas gold is known for holding it's value . The other reason is  the trust that people have on gold .It is difficult for BTC to gain that amount of trust .The growth of Bitcoin is higher than that of gold but bitcoin investments are more risky than gold investments .So I don't think they should be compared to each other.

[JacLuck]

Nothing will beat gold as a first prize currency and/or commodity in worlds precious metal.
But nothing will beat bitcoin as a king of coin in cryptocurrency world.

[Pantoflascrypt017]

But gold has numerous difference uses instead of just being a store of value or for transactions, gold price will indefinitely rise quite a bit in the future and to me i think would feel safer holding $10,000 worth in gold

[plusquantu]

I have noticed that many people are really comparing bitcoin vs. gold. But, yeah, you could say it is almost like gold, investing it in, I mean. The transactions are immediate too so there's no need to wait for too long.

[bitfocus]

No, they are very different in many ways. You can not use gold as a critical payment system but you can use bitcoin for that.

[Dexion]

I think abhwa bitcoin is more than new gold. for people who understand and understand BTC, there are many good comments out there that are dedicated to BTC. and I say that BTC is such a precious thing on earth, stored in the deepest seafloor, that there will be many crazy people trying to get it.

[manoj kumar k]

yes bitcoin can also be considered as the new gold because as the demand increase for the bitcoin the value will get increase as same as the gold

[Pettuh4]

No, they are very different in many ways. You can not use gold as a critical payment system but you can use bitcoin for that.

I think the OP was using the term gold to refer to BTC  figuratively perhaps due to the current happenings and hikes in Bitcoin prices and not comparing the two. Please take your time and read well before you post comments rather than rushing to boost your post count.

[josephpogi]

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 ?

This is like a gold but bitcoin is more profitable than gold because bitcoin is already surpassed the value of gold this bitcoin is so amazing i want to hold it and i believe that someday or in the future bitcoin will become virtual currency .