Is bitcoin digital gold?

[cyberkuto]

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 can considered bitcoin as diamond. Value of it is always on top but of course,  there are times that it's fluctuated.  But many people became successful on it.  Very friendly user and convenient in many ways.  Good investment.

[1714848117]

1714848117

[1714848117]

1714848117

[1714848117]

1714848117

[AlexAtom]

It is a quite not right. gold value is stable, but bitcoin is not.
bitcoin need to be used by everyone, so the price of bitcoin will stable as gold.

[CryptoMark2585]

I think its no doubt bitcoin is the next digital cold. its price always increasing if you chek last 1 year graph then u see it why people called btc is the next digital gold last year 2017 this time btc price may be 1400$  and now the price 8 times high so its proven btc is the best asset.

[btccointalk]

Yes, bitcoin is a digital gold. Nowadays people are investing more on bitcoin than gold.

[LindaFallar]

For me, Bitcoin could be a digital gold. This belongs to the world of technology where this is use to earn. Nowadays, people use already the high tech rather than the traditional way of earnings or investing.

[bitcoinskyrocket09]

Well for me it is. Finding and buying gold is not quite easy for a normal and typical human being only people those who have luxurious and right knowledge about btc can buy it and also those people  who are using btc. Imagine that you are buying bitcoin, btc has a value of 8,500usd and that is very big and can buy a lot of stuff. And actually 1 gold bar is 1000usd and up, so in conclusion btc is much valuable than gold. So i can compare it to other.

[d@nte]

If you understand Proof-of-Work, you'll see that this is a good way to describe Bitcoin.
Just like with gold, anyone can buy a miner to start digging for it. And it has a property that, IMO, is very important for a currency, which is a fixed limit in the supply. You could go beyond, and say that with Bitcoin you can do much more than with gold, since you can send it over the internet without having to rely on third parties.

[coin163]

Yes, It is. In my opinion it's more than a digital gold with all of it potential and limited supply.
You can exchange it for fiat, property... manything else like GOLD but it's better than gold!
So why it isn't digital gold?

[fuer44]

bitcoins like digital gold, valuable investment assets and can also be used for transactions. but what makes them both different is the price issue. bitcoin fluctuates, while gold prices are more stable and tend to increase every year.

[Moiyah]

You can say that it is like and most probably the digital gold. I like the terms of it since it resembles the value as of that gold. The more you keep your btc the more you are gaining your profits in the future if it's value increased. Though some characteristics of gold can't meet by bitcoin . For an instance, gold can be used as a conductor of heat while bitcoin is just a consumer (in terms of mining).

[gawer33]

yes it is that's the only thing Bitcoin is successful about storing value, a commodity, it failed to be a currency and money. do you think "most" of the people here buy BTC to exchange goods and services nope I think not they are buying as an investment like gold.

[tiger2monkey]

I think so. I tend to think that bitcoin is more of a digital gold for storing value than a currency due to its high value, high transaction fee and low transaction speed. With the advance of lightning network and other scaling solutions, using bitcoin as a day to day transaction currency may become possible.

[andylowe]

I think so and I think it is also paved the way for other digital assets and contracts but like gold it is the first agreed upon asset but this time completely digital. We will definitely see tons of others come and go but like gold, it still have value and is a storage of wealth.

Yes bitcoin is our digital gold or should we say our future gold that will able to help many people through everything that we needed. Bitcoin is such a great source of income for everyone, it is more useful and more helpful for everyone that really needed this kind of job. This transaction is really a unique form of earning money. Through bitcoin, it will make our life so much easier and can make our life better for the future.

[doraegun]

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 that is the exact definition of BITCOIN in real position of Ctypto currency itself known to be DIGITAL CURRENCY GOLD because  of the image they are using is color gold but it is tangible. so my perception is DIGITAL CURRENCY GOLD in this new generation.

[pdutta]

It seems to me that both of them are good for investment and have its own value. Bitcoin is like as digital gold and it can be used for payment transactions, bitcoin fluctuates while gold prices are stable. Bitcoin has given good return after long term investment compare to Gold.

[pekcoin01]

I do not agree with this idea.
Bitcoin will never be as valuable as gold.
In other comments I said something like this.

Gold is not human production, bitcoin is completely human production.

[Btcmarmipp2]

For now we can say bitcoin is a digital gold because of all the coin only bitcoin has the high value in the market. No such coin surpass bitcoin for the past years.

[Wahyu aep]

the safest way. I suggest that you use a hardware purse. You can buy it in the market. Examples of some are Trezor or the Ledger nano. I myself have Ledger nano. I would definitely recommend it to you. This is probably the safest method if you are careful when handling it. If you lose your hardware wallet or break it, your Bitcoin is most likely missing. So in a nutshell you save the key on a Ledger or paper wallet, etc. and then use a known expenditure key to create a transaction and sign it. Bitcoin is much more valuable than gold. Gold is mine without a definite supply. Which means more and more gold miners, More gold will be available in the market. Bitcoin is different, it has a fixed amount of 21 million and no more after that. Bitcoin is not a digital gold but rather a huge wealth store that allows one to instantly transfer

[Athenakim.22]

Bitcoin is far closer to gold. It is a digital equivalent of gold. Bitcoin’s supply is strictly limited. There will only ever be 21 million bitcoins. And the code that controls the issuing of the bitcoins is decentralized among thousands, tens of thousands of nodes that operate the bitcoin software. And if it were to change, it would need the majority agreement of everybody involved. Since everybody involved has an interest in maintaining the monetary policy in a way that maintains the value of the money, it is highly unlikely that we’re going to witness any change in the monetary policy. Even technical changes, like changing the block size or various parameters, have been almost impossible to make in bitcoin.

[heureca]

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.

At present BTC is still criptocurrency#1 and therefore is considered as "digital gold". It is like gold in fiat world (gold also was 1st currency a lot of years ago)