Is Bitcoin a Digital Gold??

[peterstark]

Bitcoin is the first digital gold and is probably the only one. Bitcoin affects all remaining cryptocurrency types. The value of Bitcoin has proven that Bitcoin is considered gold.

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[serenagomz95]

There are many reasons to say that bitcoin is not digital gold. Investors use gold as a safe haven to protect them from the stock market crash. Bitcoin, on the other hand, is not only more volatile than stocks and gold but also traded at unpredictable prices.

[Malam90]

Bitcoin is  neither a digital asset nor any digital gold, it is a digital currency itself. Bitcoin was developed to enhance boarderless payment system. It will neither enrich  nor made poor any people. If you invest in Bitcoin, it can give you either profit or loss.

[Cryptomania843]

The purpose of cryptocurrencies and therefore bitcoin is that they become a global currency and we would not need a bank to do what we want to do. This change is a revolution, we are only in the first phase where everything is developed. We must be patient enough and believe in cryptos. Gold will lose its place and will be replaced by bitcoin or another cryptos.
The future will tell us where will all its plans go. But what is true is that the idea of ​​the blockain is so unique and practical that a huge job will be done by the richest people to make it all happen.

[BitRewardsTeam]

To my mind, it is both, digital gold and digital currency. Bitcoin can be used to store some values, and a liquid exchange medium used for some payments.

[Taya Afi]

many bitcoin enthusiasts, especially those with libertarian views, have always discussed the main economic value of bitcoin. The theoretical basis of bitcoin was taken by Satoshi Nakamoto from the Austrian school of economics and positioned the Crypto currency as deflationary money and a cumulative means in accordance with the Menger theorem of regression.

According to this theorem, "real" money, such as gold, first acted as a cumulative means, and only then went into circulation. Without the original value, gold would never be used as money or as a method of payment, since no one would accept it:

People valued gold as such before it turned into money. Thus, the theory of the current market value of gold begins its development from the moment when gold became an exchange medium.

If we assume that the Austrians are right and the goal of bitcoin is to become money after a while, then now first and foremost we need to protect this digital gold.

[GhostWithin]

Gold doesnt lose its qualities over time and won't degrade over time. This metal exists from the very beginning of our planet and will have a value exactly until it disappears completely when all the deposits are exhausted. This is a metal that will not be spoiled or destroyed never.

[SIDDHI777]

To my mind, it is both, digital gold and digital currency. Bitcoin can be used to store some values, and a liquid exchange medium used for some payments.

What you have mentioned is happening right now in the crypto market using bitcoin but mainly it is used as a investment asset which is in the above terms as a digital gold but according to my understanding this can make a huge negative impact on bitcoins future because as the first digital currency its main intention was to become a global currency but not an asset so if many users continue to use bitcoin as an asset it can prevent its progress in the business to use as a currency

[ajiejot]

No. Bitcoin is digital currency, we can use Bitcoin for any payment, but as I know, gold nowadays are really good for investment, but you can only exchange your physicial golds with fiat ,then use fiat for payments. Bitcoins are directly be use as payment.

[reverseflash]

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.

Bitcoin is currently a means of investment and capital increase, bitcoin is volatile. Gold - on the contrary, is a means of saving capital and is extremely stable in its price. From the common in them is that both types of currencies take the leading positions in their spheres.

[kirisakidaichi]

bitcoin is not just gold or anything, bitcoin has its own place with very high asset values that make bitcoin the leader. With bitcoin we can change the world or whatever because the very high value of bitcoin makes it a very valuable asset.

[ShinobiFueled]

Only Bitcoin is pure digital gold, And I totally believe in it. Other currencies tend to remove some of the characteristics of Bitcoin. For example, purely decentralized and uncontrolled. These are the first things they must eliminate in order to try to become a business model. Although Bitcoin is not as good as gold and the value of precious metals should not be ignored by investors, Bitcoin wins the deal - cheaper and easier to send Bitcoin around the world than gold.

[ShinobiFueled]

As I have noticed the market has stabilized in recent days, investing in coin on these days maybe is a good idea. That was my thought.

[Gloria99734]

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.

Same here, Bitcoin is NOT a digital gold.
Gold has its intrinsic value, ppl will buy it bcz they like it, even they didn't consider to invest it.
Bitcoin grows bcz of ppl's expectation on its return, not itself.

But bitcoin hard to say as a currency now, currency's definition "medium of exchange" and others.
Bitcoin is not a medium of exchange now, even bitcoin investor (All of us here), we will not using bitcoin in our daily life.

[Benatiabayer]

Bitcoin can hardly be considered a digital gold, with the market fluctuating continuously bitcoin makes the price unpredictable, for gold investors see it as shelter from the decline in the market stock.

[FedorIzmailov]

bitcoin is 100 percent digital gold. Yes, it was originally created as a digital currency, but we see how slow it is and how much its transaction costs. From this one can draw conclusions that in small calculations it is absolutely unprofitable

[PitbullP]

No, bitcoin is not digital gold. Don't compare bitcoin to gold. Even both of them are valuable asset bitcoin is very profitable and can bring a lot of benefits for people. It seems to me that bitcoin is active and gold is passive

[AniviaBtc]

It depends on the people who think what bitcoin is, because we can see that bitcoin and gold have the similarity, both are obtained through mining.

Bitcoin was created in order to be a current, but adoption day by day is not so easy, it is more use as an asset.

I think bitcoin and gold are the same because they are expensive and difficult to obtain. bitcoin is also beneficial for those of us who invest well. Therefore, bitcoin is called gold because prices are relatively similar.

Got a point. Because we are talking about digital. Means the virtual gold and that was bitcoin. We cannot say that it is just some random stuffs in the internet because it really has a value and very functional especially to people who wishes earning fiat through bitcoin. Bitcoin and gold are different but if we consider some factors it is really indeed bitcoin is a digital gold.

[logangbit]

Is bitcoin a digital gold answer to this question I will say no,it is not.I believe that bitcoin is a very expensive currency and people like bitcoin too much.Everytime bitcoin has a huge demand on public and not only that all the company that sell their tokens the accept btc as their  accepted method. So bitcoin is like gold, the reason is, it has the demand on society And also a good price in market. so we can say bitcoin is like gold but not a digital gold.

[eashikde]

Many believe that bitcoin can be considered a valuable asset and it will always exist. I believe that he has good prospects to enter this elite forever when certain conditions are met. I think to become legal and start working with the government is the key to success in the future.