Is bitcoin digital gold?

[suvo05]

Bitcoin was created intentionally for the p2p online transaction without any middleman. But the popularity and the craze of bitcoin keep gradually increasing and also the transaction fee is also increased. For last 3-4 years bitcoin become the most profitable investment. So overall people started to store bitcoin rather than using it as a currency. So truly it became the digital gold now.

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[crypki21]

Yes, the bitcoin is a digital gold that is more popular in our gen.

[must_have]

If you compare price of gold and bitcoin, you can assert that it is really true. But remember, many people feel that gold is the most secure investment. And bitcoin will not replace it

[btcCoincart]

As G20, they said that Bitcoin is a type of assets, it means that we can pretend it is a kind of crypto gold! But need more and more time for this to be acceptable all the world! Hope everyone will accept this soon

[19nataliya12]

Gold as a material by its nature is not useful. Less than 10% of all gold mined is used for some industrial and production purposes. Despite this, people agreed that gold is incredibly valuable. Why?

We will not consider the primeval reasons why gold attracted the attention of society in the distant past. Currently, gold has several excellent economic properties. Gold is difficult to mine, and new deposits are opened very rarely, so its market supply is stable, and the price is not subject to inflation. Also, gold does not deteriorate (it does not dim and does not rust), therefore existing assets remain in a condition suitable for trade and storage. Thus, the price of gold does not fluctuate very much, which makes it a stable means of preserving capital. Moreover, no market or individual player has significant influence on gold. Therefore, the price of it does not correlate with the economy of any country.

Gold acts as a "protector" from the impact of global economic unrest. In periods of downturns and rises - gold remains gold, preserving its independence. Thus, over the past several thousand years, gold is used by society as a decentralized custodian of capital. And it is appreciated precisely because everyone agreed to use it for this purpose.

But! It turns out that gold is far from the ideal means of saving capital. The ingots are big and heavy. The content of storage facilities and ensuring their safety are expensive. Gold is difficult to transport. It can be stolen. You can manipulate information about the presence of gold or lie about "cleanliness" and the sample.

Of course, for all these reproaches, a resident of a developed country will respond - "Well, what's the problem? If necessary, I can easily buy a couple of pieces of gold in special institutions. And if I want to ensure its safety - just put gold in the bank cell. "

[Uncertaintea]

I mean if we are going to describe anything as digital gold then bitcoin is surely the right choice for it. It's obviously an asset which people can invest in and make profit from. It's only fitting.

[cupic]

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 agree on the following views: The bitcoin severity is increasing over time and it is limited.
Traffic volume of bitcoin is now slower than gold.
I realize that gold can be fake and it is difficult to determine the purity of bitcoin and completely transparent.
Gold is not considered as a payment medium and bitcoin is now paid for in Amazon, microsoft and many places in the world.

[cryptohacker29@]

Yo. This is a digital gold of the future or even better.

[RAKib212]

hello ..yes. bitcoin is a digital gold for us. the use and popularity of bitcoin is increase day by day. people use bitcoin for various purpose. so i think it is easily to be said that bitcoin is a digital gold in cryptocurrency world.

[deepakg2m]

Gold is an physical asset, while Bitcoin is mainly a crypto currency, but considered as digital asset too, like all crypto currencies almost. Both of them (Bitcoin and Gold) are very valuable, and the demand for them is increasing with time. In my opinion BTC is even more valuable than gold actually, since its price keep rising faster and it keep having very promising potential. But gold still the most trusted asset by the majority of people worldwide.

My opinion is also same as yours.At present BITCOIN is much more valuable than gold.Its price is much greater than gold and is also increasing very fastly.BITCOIN or cryptocurrency is becoming more popular than other forms of investments ,e.g. gold, as now a days these are being considered as outdated means.

[killerfrost]

I think this is true. Gold is the currency of all countries in the world. gold is the world's stockpile. Gold is the most preferred currency. For bitcoin too, bitcoin is a digital coin but its value is like gold. Bitcoins are widely used throughout the world. Bitcoin has high security and great value. Bitcoin is widely used. so bitcoin may be digital gold.

[Notcalculator]

In a sense yes. Because that's how its being used today. Like Gold. It never had to be a "currency" to succeed. All it needed to do is find a place in society and take power away from the banks. Apparently, it never had to be a currency to do that. Just being "digital gold" is enough.

[lukmandog]

Bitcoin has few differences compared to gold. unless in different shape and system, bitcoin has volatility that gold hasn't. also gold is more stable. despite both need to be mined and become an investment commodities. there are more differences than similarities.

[fulmetal08larz]

I think bitcoin is being considered as digital gold because it is the pioneer in crypto currency world. It is here to stay and once mass adaptation and application have been achieved, bitcoin will have more value than gold. Most corporations are recognizing BTC now and more will follow, read all the news regarding utilization of blockchain by these big corporations.

[buanakata]

Yes, true if bitcoin can be called digital gold. Therefore rather than collecting gold bullion or in the form of a physical for now better collect bitcoin. Although often forged issue we need not worry because the issue or gossip is a financial rhythm that tend to be popular

[Bisul]

Bitcoin values ​​derive from such gold-like characteristics, as well as its function as a payment system like Visa.

[just_Alice]

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.

Technically, yes, but there is one catch. Gold is a property and it is accepted in any country and bank as an investment, meanwhile BTC should be considered as a currency, you can purchase something with it, at least it is thought to be that way. And it is much more volatile, than gold.

[senne]

Bitcoin is still termed as father all of crypto currency and with that being said I can assume that Bitcoin as a digital gold as no else online commodity has given better returns over long period of time than Bitcoin. Bitcoin may suffer potential up and down every day but at the end of year it comes with a positive balance-sheet in its hand

[hawkins]

Bitcoin is still termed as father all of crypto currency and with that being said I can assume that Bitcoin as a digital gold as no else online commodity has given better returns over long period of time than Bitcoin. Bitcoin may suffer potential up and down every day but at the end of year it comes with a positive balance-sheet in its hand

well, I guess bitcoin is not like gold. but, it can be said that bitcoin is digital gold, because when you have it, you're like having gold. but, the potential for bitcoin is greater than gold. whether it's in terms of risk, or in terms of profit.

[Chaki]

When we define gold it can also mean treasure or something precious as
So, yes bitcoin is like a digital gold to crypto traders and members since it gives furtune for those who have it and who desires it.