Will Bitcoin Replace Gold ?

[totol05]

Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter

[Zwei]

no bitcoin will not replace gold, Why? because gold is a thing and bitcoin is another thing.

[PauloLuks]

According to the World Gold Council, the total value of all gold ever mined is about $7.8 trillion. While the Bitcoin market totals about $120 billion. This means that Bitcoin have a long way to go to become as valuable and widely accepted as gold. However Gold is considered the anti-fiat currency and some people like to argue Bitcoin also play that role. I think the two assets (if bitcoin considered as an asset) can coexist. Instead of one replacing the other.

[yesyes18]

Gold is a natural resource and bitcoin is a crypto currency. Per my thoughts, bitcoin cannot replace gold

[First77]

The World Gold Council put the total value of all gold ever mined at $7.8 trillion while Bitcoin market total at about $120 billion.

At $1350/ounce, there is some $30,000,000,000,000 invested in Gold worldwide.

[Dreamchaser21]

no bitcoin will not replace gold, Why? because gold is a thing and bitcoin is another thing.

Love the another thing. Basically yes bitcoin will not replace gold because I like gold, this is a great thing that you can really see anywhere. Bitcoin will just keep on soaring higher and thats good for everyone, lets just live with this two great investments.

[First77]

Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets. The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter

2009 has something to do with the events to come.....

Stock markets were crashing in 2009 (DOW 6500), Bitcoin was launched, Chinese government telling its citizens to buy gold and silver, Obama's wars...., North Korea, Iran. There is big move predicted in Gold and Silver after Donald Trump's $150 billion tariffs on Chinese good and services.

Gold protects people's wealth during wars and inflation/price rise.

[mostkey]

this discussion (the thread) is almost the same as the one-year-old discussions that have been heavily influenced by many comments. and maybe you better look for the discussion and lift the surface again than you have to create spam threads that will only be in flood shitposter

[squatz1]

I wouldn't think that the two would even come close to affecting one another, as it makes no sense. Gold is something which people use as a long term investment, something which people usually turn to in the time of a market downturn (like a massive one) Bitcoin is supposed to be a currency, one which people use instead of FIAT money.

So gold and bitcoin shouldn't affect one another at all, though who knows if they will. As some people do use bitcoin as an investment and not as its purpose, a currency.

[Snarks]

Aside from gold's physical properties. There are too many stubborn gold bugs who hate Bitcoin with a fashion. That means there'll always be demand for gold. Therefore Bitcoin can't replace it.

[Anti-Cen]

My great, great Granddad asked the same question about Tulips and got his answer about taking over from gold.

Virtual money and paper gold just somehow don't quite feel the same to me and the OP is talking out of his
bottom me thinks given how few people now trust Bitcoin after the miners put fees up to $55 per transaction.

Dream on boy!

[mustamin88]

I think portability is the greatest gold asset. You can move a lot of wealth with a relatively small amount of gold. And gold is easy to keep, and relatively easy to hide.
Bitcoin has the same features as gold. it is not even necessary to smuggle gold to avoid government detection. The ability to move digital money opens new avenues for criminals or people who are afraid of government detection to be able to transfer money seamlessly.

[campbell.box]

Bitcoin is a non-government currency. Its purpose is to become a medium of exchange, and ultimately let people use the medium of exchange to measure the value of the object.

Bitcoin certainly wouldn't want to replace gold, and if it replaced gold that day, it would lose its meaning.

[fanhuaijiao713]

Bitcoin is worth more than gold, but it can never be a national currency. Because bitcoin itself is not a stable currency, it is not controlled by politics, it is not an element of official currency, it is destined to be a folk currency.

[pushups44]

Gold has been used as money for thousands of years, so it is unlikely to be replaced any time soon. People who think gold will suddenly lose value are deluding themselves. Bitcoin will perhaps complement gold as a digital version of it.

[PauloLuks]

The World Gold Council put the total value of all gold ever mined at $7.8 trillion while Bitcoin market total at about $120 billion.

At $1350/ounce, there is some $30,000,000,000,000 invested in Gold worldwide.

Please do some more research. Because I can show you many sources that corroborate what I'm saying. Including wikipedia itself.

[First77]

Gold has been used as money for thousands of years, so it is unlikely to be replaced any time soon. People who think gold will suddenly lose value are deluding themselves. Bitcoin will perhaps complement gold as a digital version of it.

China’s gold imports have surged over 700 percent since 2010 and the country remained the world's biggest consumer of the precious metal last year, according to the latest data from Hong Kong. In 2015 the country imported almost 1,000 tons of gold, compared to about 100 tons five years ago. China was followed by India which imported 849 tons of gold in 2015.Last year China’s demand for gold coins surged 25 percent in the fourth quarter from a year earlier. The rush followed Beijing’s devaluation of the yuan as consumers sought to protect their wealth.China’s central bank has also accelerated gold purchases to diversify the country's reserves away from the US dollar.However, Beijing doesn’t explain the jump in gold demand, claiming the country’s gold reserves have grown only a little in recent years.

China has a lot more gold than they declare," John LaForge, head of Wells Fargo's commodities team told CNN.For the last six years Beijing has stayed secretive about its gold reserves. Last year the government finally revealed a nearly 60 percent growth in reserves since 2009. The country became the fifth largest holder of gold in the world, following the US, Germany, the International Monetary Fund (IMF), Italy and France.

https://www.rt.com/business

[vonnyaries]

in my opinion NO, bitcoin can't replace the gold, the gold have a physic bitcoin not, the price of gold is stable than bitcoin, this is the main advantages of gold than bitcoin, we all know that old people like to invest in gold because the gold is real and you should kept it by yourself, in bitcoin you need the 3rd party to make sure that your bitcoin is safe, like web wallet, hardware wallet, and the other. so maybe have a little risk because of this

[Modalusaha]

may be in the future. The main problem is that many countries slow down the process. when all countries begin to support it openly and then we can see.

[Anti-Cen]

Bitcoin is a non-government currency.

Yeah so how come if what you say is true that the falling price of Bitcoin is blamed on governments and banks
and not a fucking word is said here about the mining fees crashing the price when they peaked at $55.

The charts back up what I am saying and how come the lightning network is nothing more than a system of
banking hubs.

Come on, stop being a parrot and repeating just what you are told to repeat because it won't save your pocket.