Is Bitcoin a Digital Gold??

[CryptoSmile]

Bitcoin is a crypto currency that can provide substantial benefits to everyone who invests in bitcoin, but also has a large risk of loss. We have met many explanations about bitcoin, and there is no doubt that bitcoin is a crypto currency and is not digital gold, but if anyone interpreted bitcoin as digital gold, in my opinion it is not something that should be questioned, because everyone have views about bitcoin. The important thing is how we can benefit from investing in bitcoin now.

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[alexs_03]

I think that bitcoin is the gold coin of this world, for example, because it trades very many people

[Helen1122]

I think bitcoin can be same as gold because of high values. Like Gold bitcoin can be found by mining and because of uniqueness of it the price is high like gold that the price is depending on the uniqueness

[totktonuzen123]

Maybe you're right. But as you noticed, except for the big drops, bitcoin can and steadily grow up. I'm more than sure that bitcoin is still some kind of cryptozoloto. This is the finance of the future. But this is my personal opinion.

[Vimukkthi Vithanage]

Some one can think like that. but what I know is gold market is not fluctuation this much like bitcoin. bitcoin need to improve more

[hatori88]

Maybe some people think that bitcoin is digital gold because bitcoin has characteristics similar to gold in addition to the limited amount in the world, bitcoin has a blockchain system that makes it difficult to fake. Therefore, there are people who consider digital gold. other than as an anonymous transaction tool

[dificanovi]

After reading a lot of posts made by people on this forum, I realized about 75% of them see Bitcoin as a digital Gold. For me, I don't think Bitcoin is a digital gold. Cryptocurrency or Bitcoin to be precise, was developed to be a safer option for transaction of goods and services and also the best mode of payment. Bitcoin was introduced to disable all the restrictions that banks and the financial system presented. A lot of people have lost huge sums of money because they saw bitcoin as a digital gold. I know others will argue that bitcoin has also made people rich but for me, I don't think it is advisable to consider Bitcoin as a digital gold. Bitcoin is a digital currency.

I think bitcoin exceeds gold because it has many uses. bitcoin has a function as a means of payment, investing and to trade, besides that bitcoin also has an unstable price and the price will be more expensive from year to year.

[Darkmoon85]

Ofcourse bitcoin is a digital gold.I think that there is not much difference in the concept of what bitcoin is. in different circumstances, it can perform different functions inherent in both digital gold and digital cash.Bitcoin is the best medium to earn money day to day .I think future bitcoin is not gold is like a diamond.Bitcoin give everyone a good future.

[Sandijoee]

Yes, of course it's true. Bitcoin is digital gold that brings us profits in the future. By investing in bitcoin it can change your economy, because bitcoin is an investment in the long run.

[nostrings]

It seems like a lot of people now consider bitcoin as a form of digital gold instead of being an actual currency.  Whens the last time you traded gold for groceries?   We will let other currencies do the microtransactions with low fees and let bitcoin be the store of value.

[sublime5447]

I also think what you say is true but bitcoin cannot be used as a currency yet because the price is still unstable, a merchant will be having difficulty to set the price of goods if bitcoin’s value is unstable, and it’s unlikely if there is an item with 1 BTC as the price then bitcoin’s value decreased while the material of the goods is very expensive so the price of the item will decrease automatically and the merchant will be disadvantaged. So more precisely bitcoin will be used as a digital currency if the price is stable like USD.

[teamspike911]

Yes, a certain analogy is traced. Bitcoin is profitable to buy from the point of view of saving money (in a care !!!). So yes, the analogy with gold is pretty clear.

[dvmd lionel]

For instance, while some Bitcoin holders might jump at the chance to use Bitcoin to buy gold, others will continue to hold onto their digital assets. ... Overall, both gold and Bitcoin are valuable assets. However, gold has been a safe-haven asset for centuries. Bitcoin remains volatile and is indeed a risky investment.

[rudito]

Bitcoin can be said to be digital gold because bitcoin is so valuable and many people can make profits by holding bitcoin.

[qilaru]

I think people call it digital gold because of the way it may eventually emulate gold in terms of market value and stability.

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Absolutely right, i am talking with my fried and thay was also say bitcoin is a digital gold...
peoples are infuser and they have some wrong information about bitcoin   

[Strange9]

i think bitcoin can be called digital gold, but it is not yet a full currency.

[Kusnechik]

Judging by the cost and profit that pioneers have received, Bitcoin can be called digital gold, but the "gold rush" will still be there.

[Demanderoca]

I do also believe that bitcoin should not be described as a digital gold because first and foremost, one of the major characteristics of bitcoin is, it is a digital currency. Currency as we all know, is the money that we are all using in transactions, paying bills, shopping etc. On the other hand, gold can't be use anywhere; it should first be converted to a physical currency to use it.

[wongdeso]

Bitcoin is like gold which has a higher value and is fantastic. So it's natural that many of these bitcoins see gold.

[Skieleton]

Why does Bitcoin have the potential to become "digital gold"?
The idea of ​​Bitcoin, as well as other cryptocurrencies, is based on mathematics. To generate new Bitcoins, you need to solve the math problem. The solution to this problem requires a lot of computing power - it is not possible to "counterfeit" Bitcoin. The number of coins in the system is limited to 21 million, which combined with the need to solve the mathematical problem eliminates the phenomenon of inflation. Another advantage of the Bitcoin network is decentralization - the history of all transactions carried out so far is contained in a piece called a block chain (for explanation of this concept, as well as others in this article I refer to a glossary) whose copies are on the computers of all Bitcoin users . Miners dealing with transaction authorization are also spread all over the world. There is no central server, so it's harder to carry out an effective attack on the cryptocurrency. Bitcoin is divided into 8 decimal places, and the transfer time from anywhere in the world is about 10 minutes. The transfer fee is a few bitrames and can be matched to the BTC value so that there is no problem with too high commissions. These fees are entirely returned to miners who, after extracting 21 million coins, will receive remuneration only from the commission for transfers.