Is it digital gold?

[a7goo]

Bitcoin is like digital gold ........ is it correct? It is a transferable asset but not duplicable ..... do you agree? What are the points in favor and those against this statement? I would like a very analytical and specific arisposal.

[1713472252]

1713472252

[Findingnemo]

Bitcoin is like digital gold ........ is it correct? It is a transferable asset but not duplicable ..... do you agree? What are the points in favor and those against this statement? I would like a very analytical and specific arisposal.

You are absolutely right bitcoin is like a online gold I agree with that and also bitcoin can be a good way to move forward in digital world and bitcoin is also support exchanges as normal paper currency in almost all over the countries in the world , so my opinion is bitcoin is the next generation of gold.

[BillCoin]

I agree it's a digital gold, and I think that would be the best way to describe bitcoin as digital cash isn't really the right way to do that, I still think that bitcoin is a lot more then just digital gold.


Gold is a decentralized , can't be controlled by anyone and no one can print or make new gold out of no where, just like the bitcoin, it's price is being determined by real time trading, and nothing else, the inflation rate could be called fixed as there is not an organization that can decide to change the rate, but we can't know if someone will find a new gold mine or a planet full of gold in the future.
Both bitcoin and gold can act as a store of value
Bitcoin can also be transferred electronically, a place where gold failed,and is very easy to transfer and to verify that it's legit, and that's why it can also act like cash and not just like gold.

[Tharel]

Yes, I agree. Bitcoin is considered as digital gold because it is now accepted in exchange of commodities either thru online or physical store. Bitcoin is universal cryptocurrency that is popularly used to purchase or to trade in the market, which is similar to gold as the universal currency - independent of exchange rate.

[uncleduckerr]

As close as you can get to being digital gold with the one addition that you don't need to carry it around with you. All you need to remember is a 12 or 24 word seed phrase and you have your wallet in your brain at all times!

[cindygirl]

Bitcoin is like digital gold ........ is it correct? It is a transferable asset but not duplicable ..... do you agree? What are the points in favor and those against this statement? I would like a very analytical and specific arisposal.

Bitcoin is very similar in many ways to gold. The limited nature of its supply being the most common, this allows them both to in theory function as a store of value. Bitcoin has little intrinsic value as it is not tangible but it has many other benefits in that it's easily transferable at low costs and so is more suited to use as a means of payment.

[millgates]

Bitcoin is like digital gold ........ is it correct? It is a transferable asset but not duplicable ..... do you agree? What are the points in favor and those against this statement? I would like a very analytical and specific arisposal.

Some people are pretend that bitcoin is digital gold. But actually they are different, gold is physical asset and bitcoin is digital asset. But you should consider about the risk too. Bitcoin is good for trading and online transactions but the risk is very big in it.

[BitHodler]

I have always considered Bitcoin to be the digital equivalent of gold, and that has not changed. I like the fact that you can have billions of dollars worth of Bitcoin, without anyone noticing since you just need your private key.

If you would actually hold that much bulk in gold, it's impossible to hide conveniently, or you would need to trust a bank to take care of your wealth, which isn't something I even consider to be an option.

You only own something when you actually own it. You having a value document stating that you own x number of gold bulk stored somewhere isn't the same. You own a worthless document, the bank holds/owns the gold.

I consider gold's physical form to be a negative aspect, as well as a positive aspect. In physical form you don't depend on internet, which is a plus, but then its limited divisibility is again a negative aspect in currency terms.

But then again, who even uses gold as currency in recent times?

[Jlimao28]

Bitcoin is like as gold in terms of usage and value in our economy. They can both a means of exchange, payments and even assets. The difference between them is that, bitcoin is a digital currency while gold is a physical asset.
Yes, I definitely agree with your opinion because they have the same identity but as of now, we can have bitcoins but not golds.

[BTC-BTC-BTC]

Bitcoin is like digital gold ........ is it correct? It is a transferable asset but not duplicable ..... do you agree? What are the points in favor and those against this statement? I would like a very analytical and specific arisposal.

Bitcoin is digital gold. I personally perfer bitcoin the digital asset. Nowsaday there are so much fake physical gold out there. Bitcoin is best to buy/sell/and transfer values.

[Nhebu]

Yes it can be, bitcoin can compare in gold because they have the same value, they have both scarce resources and they have the same usage. The only difference is that, bitcoin can be placed in digital wallet unlike with gold. And gold can be a jewelry unlike bitcoin.

[gilabusuk1]

bitcoin is something very special because bitcoin has a very useful blockchain system, it is a recording system that can not be manipulated so now the bitcoin is so high

[olsen45]

no, not yet. uprising digital gold maybe. Many are yet to realize the full value of crypto currencies. and I am excited about that 

[azguard2]

Bitcoin is like digital gold ........ is it correct? It is a transferable asset but not duplicable ..... do you agree? What are the points in favor and those against this statement? I would like a very analytical and specific arisposal.

Many consider bitcoin as digital gold and they are right. Bitcoin is something that is with one word beautiful. Many speak of him as digital gold and they are right, bitcoin is digital gold and it have more value then real gold with still dont make some reasonable sense for many companies, that why many consider using bitcoin or creating mining farm for mining bitcoin, they have everything for this.

[tdrinker]

Bitcoin is not digital gold. It has similarities to gold but that's where the line should be drawn. While the intrinsic value argument isn't a logical one, it's one that many members of the public still believe in and that's why gold works so effectively as a store of value, unless bitcoin can prove to them it has intrinsic value it won't function as well as a store of value.

[richardsNY]

Seriously, other than for tax purposes, why would anyone here care about what Bitcoin should be considered? If you put Bitcoin against every available developed asset, it has similarities with each one of them in its own way. Main point of importance is how you USE Bitcoin -- all the endless (IMO nonsense) discussions about what Bitcoin is or what it isn't, aren't things you should be paying attention to. If you use Bitcoin solely for investment purposes, then good for you. If you use it as a store of value, then good for you. If you use it as currency to conduct payments, then again good for you. Just use it in the way so that it suits your needs, and stop focusing on what others think about it.

[lsokalski]

Yes. We can compare the bitcoin to the gold.  But of course they have similarities. Bitcoin is a digital - you can see the amount on the computer. But the gold theyre giving you price it depends on the karats or the weight of Gold.

[AjithBtc]

Yes. We can compare the bitcoin to the gold.  But of course they have similarities. Bitcoin is a digital - you can see the amount on the computer. But the gold theyre giving you price it depends on the karats or the weight of Gold.

Bitcoin and digital gold doesn't have similarities. Because gold is completely backed with commodity, while bitcoin is a technology backed innovation. Digital gold is just an representation of gold in digital form. Each and every activity of bitcoin is related to digital networks.

[Dread Pirate Roberts]

More worth called digital money or digital currency.
because bitcoin facts are widely used for payment, and also if many differences in economic concept is almost like gold but its use like other regular currency.
which distinguishes it was Digital, Price fluctuates and his income through mine with computer algorithms.

[Nrcewker]

you simply cant compare bitcoin with GOLD . but believe me Bitcoin is better then gold 1000 times ... in some reasons GOLD is good because physical item and bitcoins only in numbers over internet.