Will Bitcoin Replace Gold ?

[waitforme]

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

Bitcoin is an online virtual currency built by Blockchain technology, it has many advantages but also many disadvantages. The level of volatility and always manipulated by the rich, so it is hazardous for investors. Those who buy gold because they want to keep their money with a stable value so Bitcoin too volatile for user needs.

[firemagus]

Gold is a traditional store of value since ancient times. I think it will never replace bitcoin in the foreseeable future.

[dangwapo311]

No bitcoin was not created to replace gold. Because of the high price of bitcoin people used it just like gold rather than using it as a currency. Gold has been around for decades and its legacy it established cannot just be replaced with something new just like bitcoin. Maybe in many more years bitcoin will have a chance but right now its too early.

[Aderiho Bitjones]

Gold and bitcoin have similar parameters. But gold is a material asset, and bitcoin is a virtual value. As for gold, everything is clear. This is not only an object of investment, but also a valuable material, from which expensive jewelry is made. Gold will always be in price and in fashion. Because it is very small in the whole world. Regarding bitcoin, it is not clear whether he will exist in a few years at all.

[Kikir leutik]

this could happen bitcoin replaces gold. because gold mining could be exhausted until several years ahead.

[Alpha Illuminatus]

While Bitcoin may be safe, compared to other coins, I think gold still offers more security. Bitcoin can be easily influenced but that isn't the same for gold.

[iv4n]

this could happen bitcoin replaces gold. because gold mining could be exhausted until several years ahead.

You think so, and can you verify this info somehow or we need to trust your words?
Bitcoin can't replace gold, gold is physical and bitcoin is digital, how can bitcoin replace gold? Gold is used for many things, bitcoin is the currency or an asset. You can use bitcoin in many ways, but gold can be used in too many ways too, you can even have gold teeth, you have gold in food.
You can't compare bitcoins and gold, in one moment value of 1 btc was similar to gold but bitcoin now worth a lot more, so you can't compare it by the price either. Bitcoin can't replace gold, its not possible, I hope people will stop comparing gold and bitcoin.
When you here bitcoin and gold in same sentence its there just a metaphor, nothing more, remember that once and for all.

[Saveralll]

Gold is a traditional store of value since ancient times. I think it will never replace bitcoin in the foreseeable future.

in this world can all happen and nothing is impossible, bitcoin could replace gold. gold is over time can be exhausted because the gold is real on this earth and in this world of gold mining is not much. if bitcoin many are mine but its not real.

[samputin]

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

Yes indeed! I agree. Bitcoin and gold are totally different things. And in my own opinion, bitcoin will not replace gold. Why? Because first of all, gold is something you can touch or hold literally while bitcoin is a digital thing. And when in crisis, or let's say a particular place experienced a calamity, there will be power outage for sure. Internet connection and electricity would be down for some time; we can't say how long. Electronic payments may not be done during those troubled times. Gold, on the other hand, may be converted into cash immediately provided that you have some golds with you in your accessories, like watches and other jewelries. In addition, gold remains to be one of the world's liquid assets, traded daily in well established exchanges globally.


However, let's admit that cryptocurrencies such as bitcoin attacts lots of investors especially millenials, which in gold's case, was a very hard one to achieve. But, after all, both assets are considered safe havens.

[Ostonian]

I think that bitcoin will replace gold. This is just the beginning.
I think that bitcoin is more attractive than gold, because the crypto currency, extracted with the help of a lot of computers performing complex calculations, is more mobile than gold and easier to divide.

[Ferry22]

No, Gold and Bitcoin can both be made investment, even I think Bitcoin investment is better and bigger chance to succeed in Gold Investment appeal. However, Bitcoin can not replace Gold. because Gold can be used sebagia jewelry tool, while Bitcoin Digital goods only. And for some people, there are still many who do not believe in Bitcoin.

[wladsem555]

I think bitcoin should not replace gold. Bitcoin is a digital virtual currency. Bitcoin has its advantages and disadvantages. Among the shortcomings can be noted its volatility, bitcoin is too variable for the needs of the user. Gold has existed for many decades - it is not only an investment object, but also a valuable material, from which expensive jewelry is made. In this way, gold and bitcoin have their functions and their mission.

[1NV3ST0NM3]

An old long discussion which is going on since ages and what we all have to asnwer is that they both are absolutely different and the very same answer is true today. Gold until now is just seen as asset and nothing like that once it was considered as currency but its own problems led to replacement of gold. We got asset backed money after we replaced gold. However, we later came on with fiat which was nothing but just accumulation of debt. For which we bought in crypto something as real money like gold but also easily transferable as fiat. So obviously bitcoin has already replaced gold as currency but as a form of asset its still dubious.

[marmeladko]

I am sure that Bitcoin can't replace gold. It is very simply. People believed in gold for centuries and that it worths something, but Bitcoin has no such trust. In future BTC and gold can become competitors and both assets will have large support from investors. But in the nearer 10-20 years I don't believe that in will become reality.

[hot_ads]

BTC will never replace gold, but BTC may become digital gold, stored in the form of gold on the Internet.

[kadutz25]

indeed gold from the past is the most popular and very famous even to this day there are still many people who use gold to invest, but, I think of course we are following with the progress of the times and technological advances and bitcoin is one tool to invest and my opinion about a very nice bitcoin so I think if bitcoin is getting a lot in getting by investors to invest I think people will switch to bitcoin and I think that bitcoin will properly replace gold some time later

[Similificator]

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

It is as easy as this, when people need a thing, like a thing, or are amused by a thing, that thing will be important. Hence, it will have value. But as to how much value it will have will depend entirely on how people are driven into it or how much they need or want that specific thing. This is the case with gold and bitcoins. But really, I would prefer to have both if I could than to even chose between the two which is completely dumb. But that's just my opinion though.

[Epimetheus]

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

It is as easy as this, when people need a thing, like a thing, or are amused by a thing, that thing will be important. Hence, it will have value. But as to how much value it will have will depend entirely on how people are driven into it or how much they need or want that specific thing. This is the case with gold and bitcoins. But really, I would prefer to have both if I could than to even chose between the two which is completely dumb. But that's just my opinion though.

Bitcoin has already replaced gold.Gold has become outfashioned and people are involved more in bitcoin due to its high profit margin.Bitcoin is the topmost cryptocurrency and its price is also very high even though there is a fall in price.Bitcoin's price is very volatile and this is the main factor why it is preferred over gold.Gold is very stable so the profit rate is very littile or nil.People having bitcoins hold them for future price rise.Bitcoin has also captured the market.

[mersal]

BTC will never replace gold, but BTC may become digital gold, stored in the form of gold on the Internet.

I think both are trustable and had a huge worth for all times so i think bitcoin had an more than one step ahead of gold because the value is more higher than gold in short time so bitcoin has more value than gold in future.

[dogandogru]

Bitcoin and gold are completely two different things. Gold is a metal which is given to us by nature and Bitcoin is a cryptocurrency created by a man. So the question of one replacing the other does not arise. Gold is used a long term investment since a long time whereas Bitcoin is also used in place of fiat money. The amount of money invested in gold is in trillions and Bitcoin is not even close to that. Bitcoin can never have that wide acceptability.