Is Bitcoin a Digital Gold??

[indog]

It isnt wrong to analogize Bitcoin as gold in digital. Because to get it, you have to mine it. Bitcoin has all the same characteristics as gold. The amount of Bitcoin is limited and Bitcoin can be broken down into smaller units without losing value. The value of Bitcoin comes from gold-like characteristics and also functions as a payment system such as Visa

[aryaadikariyansyahsuwarto]

gold can be said in the world of digital currencies, it can be like that. because in my opinion, bitcoin is the most expensive and plays a role in the exchange of digital currencies, it can even be said to be popular compared to other coins ... !!

[SAYDAKHMETOV]

No. Bitcoin is not digital gold. First, the price of zolto is still controlled by someone. Secondly, bitkoyn is not a means of storage, but a means of payment, therefore it can not be called digital gold.

[martinholly167]

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.

it's just a figure of speech, we know that gold is limited while bitcoin is something digital and unlimited, even though it's hard to get like gold

[canej]

Bitcoin's supporters of "digital money" pay more attention to the affordability aspect, arguing that commission fees for transactions should be low, while Bitcoin's supporters of "digital gold" are more focused on their own security, arguing that network security should not suffer from the measures taken to reduce commissions. In my opinion, Bitcoin is and will remain both, namely, digital gold and digital money.

[odri777]

Attempts to create "digital gold" have already been undertaken.  You can recall E-gold and E-Bullion (both were provided with gold), or DigiCash.  Their goal was to create a centralized digital currency.  And they all failed.  Bitcoin is the first successful digital currency.  Although Bitcoin is not yet a stable custodian of capital.  But he does not need to immediately replace the gold, at this point Bitcoin can only supplement it.  Stability is practically the only advantage of gold over Bitcoin.  But in five to ten years, when the excitement and speculation are settled, and Bitcoin becomes an understandable and habitual financial asset, its price stabilizes.  Even now it can be said that Bitcoin's volatility is equal to the volatility of oil.  Also Bitcoin is more stable than many assets of the S & P 500 index. At the moment Bitcoin is 5-6 times more volatile than gold, but this gap is gradually decreasing.  It can be argued that there are several reasons why Bitcoin, even with its current volatility, is an effective form of digital gold.

[randegibran]

Bitcoin's supporters of "digital money" pay more attention to the affordability aspect, arguing that commission fees for transactions should be low, while Bitcoin's supporters of "digital gold" are more focused on their own security, arguing that network security should not suffer from the measures taken to reduce commissions. In my opinion, Bitcoin is and will remain both, namely, digital gold and digital money.

it's true that bitcoin is more focused on security than gold, but in my opinion, bitcoin is not gold. a digital currency and is made for payment

[Teh-pucuk]

It is true that bitcoin is long term, it can be compared to gold, the price increases. if storing a long-term item, it should be here that is clearly beneficial to us in the future

[kucritt]

many people think that bitcoin is the digital gold, but it is totally different, between bitcoin and gold, from the physic until the purpose of the creation so i think people can't think that bticoin is liek the gold or other thing that have the physic form

[sk md sajid]

yes bitcoin is future gold because bitcoin raises rapidly.soon it will take gold price.

[eann014]

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 agree, bitcoin is really not a digital gold. We can use bitcoin for online transaction like pay bills, or some other online stuffs, we can earn some bitcoin but don't look bitcoin as it is like a gold because thry are too far different. We can't use bitcoin like we can be rich in one click, yes some other does it but maybe they are just fortunate, not all can do it and it is depend on time when bitcoin is at a good level amount at this point bitcoin is at risk I think so don't look bitcoin as a digital gold.

[Sakibhasan.bd]

You are right, that Bitcoin not a Digital Gold. I think it's happened for we are talking about the price. If the basis is reason of BTC price yes it can be considered as digital gold but it's not actually Digital Gold. It just a currency.

[wolfdragon]

You are right, that Bitcoin not a Digital Gold. I think it's happened for we are talking about the price. If the basis is reason of BTC price yes it can be considered as digital gold but it's not actually Digital Gold. It just a currency.

Actually it depends how people will think about bitcoin and how they will treat it as asset. For me yeah bitcoin is a digital asset and i never treat it as a digital gold.

[bitcoindusts]

many people think that bitcoin is the digital gold, but it is totally different, between bitcoin and gold, from the physic until the purpose of the creation so i think people can't think that bticoin is liek the gold or other thing that have the physic form

Well, it is not really about the physiques that made people compare bitcoin with gold, rather, their innate attributes that where put in comparison according to similarity.

There are three reasons why people came up with the idea of bitcoin being a digital gold.

First, both are being mined. Unearthing is part of the process and miners are important for both bitcoin and gold.

Secondly, supply of both is limited.There is only so much of bitcoin and gold circulating in the market.

And third, both are trusted by investors adding value to its face.

So, the comparison was not due to physique but rather, according to their innate attributes as investing instruments.

[Yantoaja]

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.

Yes, maybe you can say that, because there is a term of mining in BTC, but actually BTC is more of an investment and an exchange rate in the digital world in my opinion, being legitimate is fine.

[maemunah]

Bitcoin's supporters of "digital money" pay more attention to the affordability aspect, arguing that commission fees for transactions should be low, while Bitcoin's supporters of "digital gold" are more focused on their own security, arguing that network security should not suffer from the measures taken to reduce commissions. In my opinion, Bitcoin is and will remain both, namely, digital gold and digital money.

it's true that bitcoin is more focused on security than gold, but in my opinion, bitcoin is not gold. a digital currency and is made for payment

of course because so far bitcoin has become a digital gold that has an expensive value and a safe and promising investment place too. bitcoin is also a fast and which transaction tool

[Mandarava]

Call bitcoin digital gold - this may not be the most successful comparison. Gold is very heavy - bitcoin is very easy to move over long distances. For this, only the Internet is needed. Gold is difficult to divide - bitcoin - easily divided. Bitcoin is better called something else. For example - a unique measure of cost.

[Ace Amias]

Of course, Bitcoin is a digital gold its now working as a store of value all people are willing to invest in bitcoin because it can provide a beautiful future a future which you can also no need to work hard and give your full time to your family and I think its a better investment through which you can give more time to your family and its a best investment I think and we all know that its more popular than gold so of course you can call it digital gold.

[frey_oh]

I am very interested in you because Bitcoin is just a digital coin that is formless and does not have physical characteristics and because bitcoin has no real value so they cannot be compared to gold. Gold is a precious metal, and they can make a lot of things from gold, so gold is very valuable. Bitcoin is a type of digital currency that does not have physical characteristics.

[cizatext]

Bitcoin in it enteritis is a digital currency and also a great store of value which is referred to as the digital gold bitcoin if not that it have a volatile market price is equal to gold and that is the reason many refers to bitcoin as digital gold. Gold on the other hand has a relatively stable price but bitcoin does not. But the main function of bitcoin is as a digital currency made for online payment on a peer to peer mode of transactions with the absence of a middle man.