Is Bitcoin a Digital Gold??

[nyn8920]

For some extent I can agree with the statement. Bitcoin is much more similar to digital gold however there will be substitute to replace bitcoin in some way !! So the statement also argumentative!  yet bitcoin holds a larger portion of crypto market share the value of it go up like gold !!

[R3ffun]

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 with you. Bitcoin is a currency and is likely it will be the main (or one of the main) in the near future. But for many at the moment, bitcoin serves as a means of accumulation, so it is often called digital gold. All because bitcoin, like gold, has the same features: limitation, anonymity, growth in value. What makes gold and crypto currency even more similar is that bitcoins, like gold, can be mined.
But the future for new technologies. Players in the gold market are exploring blockchain technology in the context of turning gold into a digital asset. And it says a lot)

yeah true, bitcoin is cryptocurrency , more than digital gold or just way to make everyone rich very fast
bitcoin is new technology who growing in this century.... everyone knows that bitcoin can used by investment, payment and etc

[Irvinn]

The very notion - digital gold is very relative, because in reality there is no digital gold. Moreover, bitcoin and gold in general can not be compared with each other. Gold is always associated with a high and stable price. Bitcoin has a high cost, but about the stable price is the exact opposite of gold.
I wonder what is the opinion on this issue among people who bought bitcoin in November-December last year at a price above $ 15,000, and now bitcoin has dropped to 6,000 - 7,000 dollars. Do they think that they have acquired digital gold? Can gold fall with the price immediately more than double?

[aylooyou]

Many people lose large amounts of money because they see bitcoin as digital gold

[justhh]

In many ways, the tasks that need to be addressed to all of the market participants are related to the definition of the blockchain as a real financial tool.

[bitcoindusts]

Bitcoin started to be considered or presumed digital gold merely because of two things, value and scarcity, just like gold.

Perhaps it was from this point of view that people started claiming that we have found a digital gold in this era. With bitcoin capped at 21 million using a mining technique to unearth it, people started thinking how similar it was with gold. And that concept was even pushed further more as the price of bitcoin surpassed any economical expectation and made it so valuable. It was nearly the same experience when people learned that gold was deemed valuable. Those who hold pieces of gold became rich instantly.

You are right that bitcoin is meant to be a piece of tech for payments, but should it prove to be a store of value then perhaps our era did stumble upon a digital gold.

[Glutius]

Bitcoin can be called digital gold only if you consider it as an investment vehicle. But in general I agree with you, bitcoin is the currency.

[Urbinklin]

Bitcoin has a huge value for our world, so it is not surprising that it is compared with gold. But I also prefer to consider bitcoin as a currency.

[Maamejane]

Not really, from the little that we know it is not, just that it values looks like that of gold. BTC is a digital currency and loves itse...lf to be as such.

[Osaaah]

Lately, many are denoting so many names to the most popular coin in the crypto-space, bitcoin. I think we forgetting that Bitcoin is just bitcoin ... Nothing else.. Not even close to digital GOLD. because i think if Bitcoin were to be digital Gold it would have been referred to as Digital GOLD and not Bitcoin.

[MalcolmBee]

For example, while some Bitcoin holders may seize the opportunity to utilize Bitcoin to purchase gold, others will keep on holding onto their computerized resources. ... Generally, both gold and Bitcoin are profitable resources. In any case, gold has been a place of refuge resource for a considerable length of time.

[anafiene]

Bitcoin is a transaction tool used for the internet world, not gold, but has a price level that exceeds the price of gold. Since there are not many who know or plunge into bitcoin so it is considered to have a higher level with gold.

[arief.sutono]

If we are going to base on its value, we can say that it is big enough as gold. Because the value of bitcoin is almost like gold, it becomes more valuable like pure gold and it's incredible because only our digital numbers can't even touch it but the price is incredible. So I believe that it is considered digital gold. Thanks

[Sama517]

It is very cool to describe Bitcoin as a digital gold. Besides, most people have started even moving their investments away from gold and trying it on Bitcoin.

[poletando]

from the big concept bitcoin and gold are same, it same mined to get it, and it have the high value, but both of them is totally different? why? because gold have a physic form and bitcoin doesn't have it, and the second thing is bitcoin have the max amount $21M and gold? we don't know it until right not

[beami]

You could say that bitcoin is gold because its value exceeds that of gold. This can tempt crypto enthusiasts or those outside cryptos. People who hear the price of bitcoin will certainly be curious and will find out about bitcoin.

[quynhtran722]

Bitcoin has made investors much richer than gold recently, when in the past 12 months, this currency yielded 1,116%, far outnumbering the 12% that gold bring. Investors, however, still turn to gold to diversify their portfolio, using gold as a safe haven to protect them from the stock market downturn. These erratic movements will make it hard for Bitcoin to play a role similar to gold in the eyes of investors.

[CoinsGazer]

I do not think so!
People always say that Bitcoin is valuable because of its scarcity and its consensus on it, just like gold. So bitcoin is digital gold.

However, the consensus is not the only reason for the value of gold. Gold has a certain value in use, it can be used to conduct electricity and can be used as a jewelry. This is why there is a limitation on gold price fluctuation. If the price of gold falls too much, people will use gold to make various electrical components and accessories. However, such a value standard does not apply to Bitcoin. Bitcoin has no other value in use, and the price fluctuation is also large.

[SAYDAKHMETOV]

Gold is a luxury item, jewelry, supplies, storage. Gold today is not a means of payment or a method of transactions. It's more like just a commodity, by the way, you can buy for money and for bitcoins in that chile. Bitcoin is also created to pay for goods and services, a means of transfer and transactions. Bitcoin needs to be invested but a pq of purchase and sale. In the cold, such purchases and sales are not so profitable. So bitcoin can not be called digital gold. It's just a digital currency. This is something else.

[FionaRice124]

I think Bitcoin is considered the gold of the 4.0 technology era. They are also dug by machines and operators, but their value is very high. The Bitcoin market is also huge. The price of a Bitcoin - which for the first time surpassed the price of gold nearly a year ago - is now several times the value of an ounce of gold. Note that this is a comparative rate after the recent drop in Bitcoin prices while hovering around $ 7000, its highest all-time high in December 2017, is worth $ 20000.