Is bitcoin digital gold?

[Testme]

In my opinion, bitcoin is the new digital gold. Yearly, the bitcoin amount is increasing.  The same as gold, the amount of gold is expensive. So i think bitcoin is a gold.

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[yj300316]

rather than gold, why don't say it is a digital USD ?
in my opinion, bitcoin now has used by many peoples around the world.
bitcoin price not stable as gold. it is a quite wrong i think if bitcoin is a digital gold.

[Harleybtc01]

rather than gold, why don't say it is a digital USD ?
in my opinion, bitcoin now has used by many peoples around the world.
bitcoin price not stable as gold. it is a quite wrong i think if bitcoin is a digital gold.

I could say yes, because as i know bitcoin and gold have some same feature, like being rare. Bitcoin is rare because it just have a limited number. The more people were using it the more it will be expensive and more people would be interested to buy and sell it

[Alohadance]

I believe in bitcoin. It is traditional usd or gold in cryptocurrency and it will be used for a very long time.

[alvipalangka]

Yes, bitcoin is digital gold, the value of bitcoin is like gold, it is also popular and many investor keep it is as a treasure. Bitcoin is also use in daily needs.

bitcoin as a digital investment that pluktuatif price .. the price is uncontrollable but many are investing

[blackbutterfly]

The billionaire venture capitalist is doubling down on BTC, likening the digital coin to gold’s online equal.

Thiel touts the No. 1 cryptocurrency for its size and its ability to compete with gold as a safe haven, saying at the Economic Club of New York:

“I would be long bitcoin, and neutral to skeptical of just about everything else at this point with a few possible exceptions. There will be one online equivalent to gold, and the one you’d bet on would be the biggest,” said Thiel.

But with the exception of a few digital coins, Thiel remains neutral on the rest of the cryptocurrency pack. He didn’t dismiss the possibility that bitcoin could be surpassed by Ethereum or other altcoins that prey on the leading cryptocurrency’s weaknesses, but bitcoin’s strength is in its size.

Bitcoin controls more than 40% of cryptocurrency market cap compared to almost one-fifth for Ethereum, as per Coin Market Cap data cited in CNBC.

i think it was yes because bitcoin is more than great than gold so i think it was a high quality digital gold or a biggest currency.

[selezneve]

I believe in bitcoin. It is traditional usd or gold in cryptocurrency and it will be used for a very long time.

It is obvious that if something is limited, it becomes more valuable. This will ensure that the price will only rise with time. The existing investors holding Bitcoins can be assured of the fact that they have made the right decision by investing in Bitcoins instead of other options like gold.

There are still lot of gold reserves and new ones are also being explored. So if we compare supply wise, bitcoins has more limited supply than gold.

[raybut37]

I believe in bitcoin. It is traditional usd or gold in cryptocurrency and it will be used for a very long time.

Yes, bitcoin is very popular and expensive that we can compare its value to gold. This is very known also as digital gold because of its stability in the market.

[Choghonl]

Actually if you think about it closely bitcoin is actually the virtual or digital gold but perhaps the way of getting bitcoins is called mining which typically make sense because getting them is not easy but they may have a lot of similarities and their values may differ they also have a bunch of differences but unlike gold you don't need any third party organizations to make transactions and are also more convenient than gold itself it has a ton of benefits which is very also very nice.

[Ayyaz Mahmood]

I think it depends on the way in which you use it. If you use it like a currency, then no it isn't even close to digital gold. But if you are to use it as an investment, it could be digital gold -- as you're just sitting around and waiting for it to be worth more (which is what a lot of people do with bitcoin and gold)
Gold has been trusted since thousands of years ago as a valuable commodity and the price is stable. I can not guess the bitcoin will last thousands of years.

[Dmitry.Vastov]

The billionaire venture capitalist is doubling down on BTC, likening the digital coin to gold’s online equal.

Thiel touts the No. 1 cryptocurrency for its size and its ability to compete with gold as a safe haven, saying at the Economic Club of New York:

“I would be long bitcoin, and neutral to skeptical of just about everything else at this point with a few possible exceptions. There will be one online equivalent to gold, and the one you’d bet on would be the biggest,” said Thiel.

But with the exception of a few digital coins, Thiel remains neutral on the rest of the cryptocurrency pack. He didn’t dismiss the possibility that bitcoin could be surpassed by Ethereum or other altcoins that prey on the leading cryptocurrency’s weaknesses, but bitcoin’s strength is in its size.

Bitcoin controls more than 40% of cryptocurrency market cap compared to almost one-fifth for Ethereum, as per Coin Market Cap data cited in CNBC.

Yes bitcoin is a new gold and more exactly speaking it is more volatile than gold and investment into BTC is much profitable than investing into any other business and moreover the valuation fluctuations is more frequent and the valuation inflates at very high rate and moreover it is very reliable crypto currency that might replace the paper currency in the future.

[Koluchka]

While many crypto investors have coined Bitcoin as the world’s “digital gold,” others are growing uncertain of Bitcoin’s value.

Howard Wang of New York-based Convoy Investments LLC and Jeremy Grantham of GMO LLC have analyzed Bitcoin’s advance relative to past frenzies and concluded that it’s unsustainable, which was noted in a recent Bloomberg article.



In a letter to investors sent out on January 3, Grantham summed up his concerns over Bitcoin saying, “Having no clear fundamental value and largely unregulated markets, coupled with a storyline conducive to delusions of grandeur, makes this more than anything we can find in the history books the very essence of a bubble.”

However, it is still too soon to tell if the “Bitcoin bubble” will indeed burst. What has become clear though, is that Bitcoin should not be considered a safe-haven asset.



I say this as I examine a chart complied by the data visualization site HowMuch, which displays an illustrative table of all the “horrific Bitcoin crashes” that have occurred since 2012.

Looking at this chart, it appears that Bitcoin lost 83% of its value in just three days between April 10, 2013 to April 21, 2013. Bitcoin’s next biggest crash occurred just recently, losing 70% of its value from December 2017 to February 6, 2018.



Now, compare this with the price of gold. According to data from the London Bullion Market Association, the price of gold appears fairly steady from day-to-day.

Considering this, Bitcoin investors and holders might find it interesting to know that major precious metal retailers have started accepting Bitcoin payments for gold, silver, platinum and other products from various mints. For example, APMEX Inc., one of the largest online retailers of precious metals, recently began accepting Bitcoin payments through the Bitcoin payment processor, BitPay.

Ken Lewis, CEO of APMEX, told me,

“As we are probably all aware, Bitcoin prices have surged in the last year, seeing an overall increase of nearly 1,200% in 2017. Investors started getting excited about Bitcoin and many casual traders even got involved with the cryptocurrency. Relative to Bitcoin, precious metals prices are far more stable, with Gold seeing just over a 12% increase in 2017 (Silver up roughly 5%). While people are obviously still highly interested in Bitcoin, many are turning to precious metals for a more, in a sense, secure investment.”

[Quicksilver143]

Yes bitcoin is a digital gold, because its value is not far to avail a gold but it depends on which way you are going to use it. Specially when you are using it as an investment, it may be like a gold. You are just going to wait and watch its value to rise or pass the value of the gold. It is situational for me.

[Ibrahim1337]

Now a days,
All are sayied that it is higher then gold

[Craigjohnstone]

Bitcoin is a more useful gold, you can keep it as an asset and also spend it like currency. This makes it better than gold.

[MAJICOIN]

Bitcoin is the number one currency in the crypto world and if we compare this with the gold then it can also be said that it is digital gold but if we say that it is currency it will be more clear and explained. Bitcoin is good to hold just like gold bitcoin is also valuable and the holding is also profitable while if we keep bitcoin it is expected that bitcoin will hit 20k soon.

[irsada]

While many crypto investors have coined Bitcoin as the world’s “digital gold,” others are growing uncertain of Bitcoin’s value.

Howard Wang of New York-based Convoy Investments LLC and Jeremy Grantham of GMO LLC have analyzed Bitcoin’s advance relative to past frenzies and concluded that it’s unsustainable, which was noted in a recent Bloomberg article.



In a letter to investors sent out on January 3, Grantham summed up his concerns over Bitcoin saying, “Having no clear fundamental value and largely unregulated markets, coupled with a storyline conducive to delusions of grandeur, makes this more than anything we can find in the history books the very essence of a bubble.”

However, it is still too soon to tell if the “Bitcoin bubble” will indeed burst. What has become clear though, is that Bitcoin should not be considered a safe-haven asset.



I say this as I examine a chart complied by the data visualization site HowMuch, which displays an illustrative table of all the “horrific Bitcoin crashes” that have occurred since 2012.

Looking at this chart, it appears that Bitcoin lost 83% of its value in just three days between April 10, 2013 to April 21, 2013. Bitcoin’s next biggest crash occurred just recently, losing 70% of its value from December 2017 to February 6, 2018.



Now, compare this with the price of gold. According to data from the London Bullion Market Association, the price of gold appears fairly steady from day-to-day.

Considering this, Bitcoin investors and holders might find it interesting to know that major precious metal retailers have started accepting Bitcoin payments for gold, silver, platinum and other products from various mints. For example, APMEX Inc., one of the largest online retailers of precious metals, recently began accepting Bitcoin payments through the Bitcoin payment processor, BitPay.

Ken Lewis, CEO of APMEX, told me,

“As we are probably all aware, Bitcoin prices have surged in the last year, seeing an overall increase of nearly 1,200% in 2017. Investors started getting excited about Bitcoin and many casual traders even got involved with the cryptocurrency. Relative to Bitcoin, precious metals prices are far more stable, with Gold seeing just over a 12% increase in 2017 (Silver up roughly 5%). While people are obviously still highly interested in Bitcoin, many are turning to precious metals for a more, in a sense, secure investment.”

it's up to you to think like what is obvious difference of bitcoin with gold is very different.
which you should know gold is worth to invest but only in the long run.
while bitcoin price can not be predicted by anyone because its value depends on request.
and could have today increased its value by up to 10% each day.

[jops]

The billionaire venture capitalist is doubling down on BTC, likening the digital coin to gold’s online equal.

Thiel touts the No. 1 cryptocurrency for its size and its ability to compete with gold as a safe haven, saying at the Economic Club of New York:

“I would be long bitcoin, and neutral to skeptical of just about everything else at this point with a few possible exceptions. There will be one online equivalent to gold, and the one you’d bet on would be the biggest,” said Thiel.

But with the exception of a few digital coins, Thiel remains neutral on the rest of the cryptocurrency pack. He didn’t dismiss the possibility that bitcoin could be surpassed by Ethereum or other altcoins that prey on the leading cryptocurrency’s weaknesses, but bitcoin’s strength is in its size.

Bitcoin controls more than 40% of cryptocurrency market cap compared to almost one-fifth for Ethereum, as per Coin Market Cap data cited in CNBC.

For me i think bitcoin is not a digital gold. Because unlike gold, gold have it's stable value rather then bitcoin. I will accept bitcoin is digital gold if its price is stable already. But what ever we called bitcoin, bitcoin is always a bitcoin.

[Temitope]

Yes,  bitcoin can actually be liking to that of gold in this contemporary world

[mihir2018]

Oviously, it is possible to call it digital gold based on the bitcoin's properties. Because it uses the same as gold, but in a little exception. It does not have any trouble to measure. Here a big difference from gold is not centralized. When we compare it to gold, it will be understood that it has many benefits than gold.