Is Bitcoin a Digital Gold??

[artichandra]

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 as digital gold or bitcoin is digital currency, both of them is still good for bitcoin too. it's still much better then they not interest in bitcoin, but surely in first place bitcoin was created for cryptocurrency.

[airdnasxela]

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.

Is bitcoin a digital gold? Obviously, no, bitcoin is not a digital gold. Those people who compare gold to bitcoin only look on some sides but not all the aspects as a whole. What do I mean? They said that gold has a store value that is why they demand to have it likewise bitcoin also have its value that is why there are these demands. They are also saying that before people used gold as a transaction method which is the same with bitcoin which is a modern day way of transaction. They forgot that gold is used to a lot more purposes like medical purposes, fashion statements,  and etcetera.

[jpnl0008]

the bitcoin is a digital gold in my own opinion because every feature gold possess has already been displayed on the blockchain and bitcoin framework. it has more value in terms of time of invention or discovery till this time. gold has been over the years but bitcoin just found its way in the early 21st century and it is already making waves

[internetlift]

That's what I think he is. It is not a currency, bitcoin is an asset like gold or silver

[Rozita]

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.

Is bitcoin a digital gold? Obviously, no, bitcoin is not a digital gold. Those people who compare gold to bitcoin only look on some sides but not all the aspects as a whole. What do I mean? They said that gold has a store value that is why they demand to have it likewise bitcoin also have its value that is why there are these demands. They are also saying that before people used gold as a transaction method which is the same with bitcoin which is a modern day way of transaction. They forgot that gold is used to a lot more purposes like medical purposes, fashion statements,  and etcetera.

I think the use of bitcoin in transactions is much more important than the use of gold which you mentioned. Bitcoin is not just a store of value. Bitcoin can be used for peer to peer transactions. It just takes times to be used worldwide.

[Alexbelov23]

well there are thing in common: gold has made people rich and so has bitcoin in fact. but I also don't see bitcoin as the digital GOLD..... as you already write, it is a digital cryptocurrency and actually, that's to.. its a mode of payment in a digital way... of course I also already read here in this forum, and also in other forums that a lot of people see bitcoin as digital gold and also some colleagues of mine think so.... well, I don't, at least not at the moment. bitcoin is just the most popular cryptocurrency - thats all.

[deda123]

for my opinion  i think  that bitcoin is something as gold  since its price and as all we know that gold i s very attractive in every aspect and i think bitcoin as a digital asset is also very important.

[cryptofeel]

If one chooses to see the bitcoin as the digital gold then that's the person's perception and the word is believe what you want to believe. But the Bitcoin is more than digital gold. It is a revolution that is bringing down the walls of conventional financial institutions and ushering in a new way for everyday transactions

[dgreat]

at first we should know that the value of gold comes from the fact that everyone just agreed that it has value and therefore it becomes valuable.The reason they chose gold over other objects is important - gold has certain characteristics that make it a better ‘store of value than other objects. same applicable to bitcoin gold is rare  As it turns out, Bitcoin has all of these same characteristics, and more. It has limited supply (only a specific amount of Bitcoin exists and will ever be produced). It can be made into smaller units without losing unit value.the smallest unit into which a Bitcoin can be broken down to, similar to the cents in a Dollar or pennies in a pound; this is also why one can buy less than one Bitcoin at a time). Its technology makes it very stable, it won’t degrade, and it’s impossible to counterfeit. On top of this, and unlike gold, you can move Bitcoin to any place on earth within minutes, no matter how big or small the amount. That’s why many people say that Bitcoin is not just digital gold, but a better version of gold.

[Huntler1993]

You are absolutely right we always presume  things for BTC which is quiet ridiculous, but well i think people might be tempted to call bitcoin a digital gold  because of it value it carries along, as precious just like gold but trust me it is and will always be the number one digital currency.

[Cryptoreflector_666]

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 turns out that bitcoin or any other cryptocurrency can not be gold a priori, since its value is fully defined and tied to the Fiat currency, which in turn determine the price of gold. Vicious circle.

[gulshan1]

Gold is now small word for bitcoin world because if we do compare the price of gold even then it is far behind and can to come near by the bitcoin. Yes we can say that bitcoin is sapphire and gold is gold.Bitcoin have not existence in the physical world, still bitcoin have master price in the whole world.

[KKH84]

As a currency or payment instrument, Bitcoin is rejected. This means that it is invalid if it is used as a payment instrument. However, the circulation is not prohibited at all. As long as it is used as a commodity, like gold, so in my opinion it's just a parable that bitcoin is like digital gold.

[19Nov16]

It can be said that bitcoin is digital gold, this is because the characters of bitcoin such as gold, the concept of decentralization and the amount of stock are the most appropriate reasons for the bitcoin is digital gold, I'm sure 10 years more the influence of bitcoin is as strong as gold.

[C0ld_Zero]

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 isn't the new gold — and currently — I don't significantly think about it cash.

Best case scenario, Bitcoin is presently a store of significant worth and at the very least a theoretical resource.

[pushups44]

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 all a matter of perspective, since some like bitcoin for different reasons. Like gold, bitcoin is scarce and expensive to mine. It also has the first-mover advantage, giving it a brand name that is the most recognized in the industry. Others are optimistic about the Lightning Network and the potential for micropayments once again. I believe bitcoin will have multiple uses.

[Ledy Alise]

If talking about investments - yes definitely. Despite the huge drop Bitcoin had last year, which in my opinion was all well organized, i still think it worth investing in. Digital gold? It is Indeed.

[Kat_messy]

I don't think that Bitcoin is seen as a Digital Gold. I would rather say, people just know and appreciate Bitcoins value. Still my favorite coin.

[AliceSusana88]

Bitcoin hardly has the same role as gold in the eyes of investors. Maybe the world does not need a new version of gold.

[swaggerkeme]

Over the years, many have treated bitcoin as a digital asset to invest in and earn hugely from their investment. Hence those who choose bitcoin as a digital gold are not far from right.