Bitcoin Not Ripe To Replace Gold: Analyst Kristoffer Inton

[CryptoDamon]

As what we have read to some articles that bitcoin is considered as an investment vehicle just like gold. Some may find it ridiculous but as what we can see of bitcoin's performance for the past few years it has increased in a very profitable manner. Many investors' lives that were changed and some even regretted the fact of not investing into bitcoin.

I think there's no need to replace gold when we talk about investments vehicle since gold is tangible and will forever remain on this earth. They will coexist and can both give us profits.

https://zycrypto.com/bitcoin-not-ripe-to-replace-gold-analyst-kristoffer-inton/

Share your thoughts about this.

[Don Pedro Dinero]

I don’t see the point in replacing gold but that will happen or not, it is not someone’s choice. Bitcoin has taken some of the gold market. Nowadays many people who own gold actually own paper, or digits, they don’t have the gold stored at home or in a safe in a bank, and bitcoin has a similar function, but it is not centralized.

So, yes, they will probably coexist for a while.

[Kemarit]

I don’t see the point in replacing gold but that will happen or not, it is not someone’s choice. Bitcoin has taken some of the gold market. Nowadays many people who own gold actually own paper, or digits, they don’t have the gold stored at home or in a safe in a bank, and bitcoin has a similar function, but it is not centralized.

Exactly. There was one theory circulating last year that some gold holders are slowly shifting investments to bitcoin or crypto but it hasn't been proven. We can speculate that they have something to do with the price pushing to a new all-time-high last year. Imagine if bitcoin could get at least 5% of gold investors globally, that will be epic.

So, yes, they will probably coexist for a while.

Holding both have its advantages and disadvantages. But I'm sure that smart investors would love to get their hands on both assets. And we wanted to diversify as well so bitcoin will easily fit on a gold investors portfolio.

[tippytoes]

Remember that bitcoin is a very high risk investment. It's like you'll never know if you still have the original amount from couple of days ago or so. And if you invested your entire life savings, you can't sleep very well in that case. While if you have the gold, you're not that scared to lose it the next day. You are still confident that you have your gold investments. But, it's up to an individual where he wants to risk his money. It's his own money anyway.

[BrewMaster]

bitcoin was never supposed to replace gold and it is not even designed to do anything like that simply because bitcoin is a currency while gold is a metal that is used for other things including an investment but never as a currency anymore.

as for only the profitability and the investment aspect of the two bitcoin has already entered investors' portfolios as an investment to diversify while making a lot of profit. i wouldn't call this "replacing gold" but it is pretty similar.

[semes]

Bitcoin investment tool? First we have to answer this question! For me, right now it is. But, the future mission of Bitcoin is completely different. This can change if it will be successful. But there is another scenario. If altcoins are used and survive, Bitcoin can be always remain an investment tool.

But Bitcoin is not an investment tool like gold, and will never be. Therefore, it is not right to compare these two.

[glorybtc]

bitcoin was never supposed to replace gold and it is not even designed to do anything like that simply because bitcoin is a currency while gold is a metal that is used for other things including an investment but never as a currency anymore.

as for only the profitability and the investment aspect of the two bitcoin has already entered investors' portfolios as an investment to diversify while making a lot of profit. i wouldn't call this "replacing gold" but it is pretty similar.

indeed bitcoin was created to improve the existing financial system by cutting time and costs in transactions, and bitcoin was created to replace the role of physical money which are monopolized by the government, but after bitcoin is getting hype and high prices, many people think that bitcoin is very profitable if it's used as an investment instrument so that until now bitcoin was made an investment

[CryptoDamon]

But Bitcoin is not an investment tool like gold, and will never be. Therefore, it is not right to compare these two.

I don't agree with you on this. Bitcoin is seen as an investment vehicle not as a currency because of its volatility in value.
The topic is all about replacing gold as an investment vehicle not to compare both. That is why we have this issue since bitcoin is also considered as a good store of value just like gold.

I guess only a few in here who are actually using their bitcoin to purchase something online. Most of us are hodling bitcoin or used them in trading or gambling to earn profits.

[avikz]

As what we have read to some articles that bitcoin is considered as an investment vehicle just like gold. Some may find it ridiculous but as what we can see of bitcoin's performance for the past few years it has increased in a very profitable manner. Many investors' lives that were changed and some even regretted the fact of not investing into bitcoin.

I think there's no need to replace gold when we talk about investments vehicle since gold is tangible and will forever remain on this earth. They will coexist and can both give us profits.

https://zycrypto.com/bitcoin-not-ripe-to-replace-gold-analyst-kristoffer-inton/

Share your thoughts about this.

Gold and bitcoin are two structurally different things. Also bitcoin is just 10 years old, while gold is few centuries old and established as an investment vehicle. Even though a lot of people nowadays consider bitcoin as an investment vehicle, it should ideally be considered as a currency! So replacing gold or bitcoin by one another is not a sensible argument at all!

While gold is considered as wealth among many communities, bitcoin is especially popular among the tech-savy generation. But if we really want to see a sustainable growth for bitcoin, we must consider it as a currency and not as an investment. 

[hachiman13]

Bitcoin isn't even an investment tool since we cannot be sure that it will definitely appreciate in the future unlike gold which is tangible and is actually naturally rare so there's always demand for it. The statement was a little absure since bitcoin wasn't meant to replace anything; it was meant to be an option.

[Red-Apple]

I don’t see the point in replacing gold but that will happen or not, it is not someone’s choice. Bitcoin has taken some of the gold market. Nowadays many people who own gold actually own paper, or digits, they don’t have the gold stored at home or in a safe in a bank, and bitcoin has a similar function, but it is not centralized.

Exactly. There was one theory circulating last year that some gold holders are slowly shifting investments to bitcoin or crypto but it hasn't been proven. We can speculate that they have something to do with the price pushing to a new all-time-high last year. Imagine if bitcoin could get at least 5% of gold investors globally, that will be epic.

it is not just a theory. we have seen the huge attention that was given to bitcoin last year due to multiple factors. starting with its 3 year price rise with a solid movement from $200 to $900-$1000 that is surely going to make the real investors consider bitcoin.
the follow that up with the major adoptions that happened last year such as Japan.
and finally the ATH which was a 20x rise in only one year and even after correction we are still in a 6x rise.

obviously the "real investors" see all this potential and shift at least some of their money into bitcoin.

[gantez]

But Bitcoin is not an investment tool like gold, and will never be. Therefore, it is not right to compare these two.

The point there is, bitcoin is used for both asset and investment. The asset made from bitcoin can be converted into cash likewise gold and you can also invest in bitcoin to hold for the future which is an investment . They both play such function if you will agree....

[Pan Troglodytes]

(...)

Holding both have its advantages and disadvantages. But I'm sure that smart investors would love to get their hands on both assets. And we wanted to diversify as well so bitcoin will easily fit on a gold investors portfolio.

Yes diversification of that type makes sense, especially that they are not correlated. If we were to buy some highly positively correlated stuff, what would be the difference between that and buying more of the same stuff?

[darklus123]

Gold and Bitcoin are two different things.

Gold is purely just an asset while Bitcoin on the other hand has a deeper value. I see more of Bitcoin competing with FIAT rather than GOLD. People are just comparing bitcoin to gold because of the price when we do talk about that Bitcoin's price is just $6,451 while Gold in the other hand $38,301.18 per KILO. Obviously Gold is more valuable but it's price is steady unlike bitcoin.


Therefore Bitcoin as of the moment Kristoffer Inton is right that it's current price is not enough to replace GOLD in terms of price. However if we do talk about usability or as an asset Bitcoin is far far better than Gold.

[dothebeats]

Gold has always been a solid store of value while bitcoin tend to be more on the lucrative side bringing in profits on the most unusual of times. Also, gold's price movement isn't that extraordinary and tend to take months or years for increases to happen while bitcoin always has the opportunity to rise and profit from the fall. IMO, bitcoin will never be gold, though they can coexist especially in terms of safekeeping assets since both can act as storage of value, though bitcoin is more flexible than gold especially in liquidating one's asset.

[dablatair]

Hello,

I agree with you that BTC could not replace gold but his a real alternive to it.

These are differents markets and values. One is tangible other one is network so they have differnt power for people and have both their advantages.

Gold is for me the BTC of fiat, means the reference and will remain s it is because his tangibility. BTC is the gold of crypto as a reference of crypto, most famous and valuable one, kind of crypto like gold is kind of fiat

[ShadowBits]

As what we have read to some articles that bitcoin is considered as an investment vehicle just like gold. Some may find it ridiculous but as what we can see of bitcoin's performance for the past few years it has increased in a very profitable manner. Many investors' lives that were changed and some even regretted the fact of not investing into bitcoin.

I think there's no need to replace gold when we talk about investments vehicle since gold is tangible and will forever remain on this earth. They will coexist and can both give us profits.

https://zycrypto.com/bitcoin-not-ripe-to-replace-gold-analyst-kristoffer-inton/

Share your thoughts about this.

I know that Bitcoin and other cryptocurrencies will be big someday, but I doubt that they can replace gold since gold has a physical way of getting it.

[ShowOffoN]

Well said! Gold will remain a better investment than bitcoin simply because there is an undetermined and perhaps even unlimited chances on mining while bitcoin has a limit although it has been said that it will still take 122 years to finish mining the remaining coins. Plus we must also not forget the fact that bitcoin is still a test. We can't tell what the future holds for it albeit, both has pros and cons. Gold may just be for the chosen few and bitcoin can be for everyone.

[Ava Duvall]

Bitcoin isn't even an investment tool since we cannot be sure that it will definitely appreciate in the future unlike gold which is tangible and is actually naturally rare so there's always demand for it. The statement was a little absure since bitcoin wasn't meant to replace anything; it was meant to be an option.

I agree, For some reason people think and / or want bitcoin to replace something. I dont get why it is needed so bad, bitcoin s good on it's own it does not need to replace anything

[solkinsolali]

I partially agree with Kristoffer Inton. Bitcoin is still at an infancy stage. There is still a lot to do especially putting its high volatility under control because it is its major shortcoming.