Bitcoin Not Ripe To Replace Gold: Analyst Kristoffer Inton

[Gary Levanevskii]

The future looks very unpredictable. The gold after the collapse of the bubble is on a longterm correction that can last a very long time. It is difficult to say whether the next bullrun of gold will be. Perhaps the fall of gold is associated with the popularization of Bitcoin. After the fall of gold in 2011, the era of Bitcoin began.

[CryptoDamon]

But if we really want to see a sustainable growth for bitcoin, we must consider it as a currency and not as an investment.  

Bitcoin will never be a mainstream currency. People will always see bitcoin as an investment vehicle.
When bitcoin was invented, Satoshi Nakamoto decided to limit the number of BTC to be mined. That limited supply means that any increase in demand can make its value skyrocket. Would you spend your bitcoin if you have cash, credit card or debit card knowing about the law of supply and demand could make BTC value skyrocket few years from now? No one would ever do that, specially if you believe in the technology and you've already understand how volatile bitcoin values are.

[bloodyvio]

of course not
bitcoin is bitcoin and gold is gold
both are different
the existence of bitcoin is expected to be a currency, investment and bank
whereas gold is a stable currency, investment and jewelry
maybe in the future bitcoin can be considered a commodity like gold

[Ucy]

I agree. Bitcoin won't replace Gold. Both can coexist without problems and their values could also be rendered useless with future inventions.

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.

I guess Bitcoin will forever remain on earth too as long as the Internet, human knowledge and computers aren't somehow wiped out of existence.

[Cajor]

Gold is undoubtedly an wonderful and ancient medium to exchange, so no matter, gold shouldn't be replaced or kept out. Also, the value of gold usually doesn't go downward, but it also isn't as easy or available to exchange.

[wongdeso]

Bitcoin is the gold of internet technology, gold is gold in real life by having a stable price and tends to rise. Bitcoin has an unstable value but prices are higher than others.

[Slow death]

Share your thoughts about this.

Bitcoin will not replace gold, banks or fiat, we have to see that everything has advantages and disadvantages and so we have to use everything.

gold is less volatile, so I would buy gold and buy bitcoin to get more profits.

bitcoin is easier to transport and gold and very difficult to transport, so I would buy gold and store in my safe and buy bitcoin to use because it is easier for me to transport

[denzkilim]

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.

You're correct about that! A digital currency with value will never ever replace a physical object with value, why? because this digital stuff can only be used throughout the internet and with the help of your smartphones and desktop/laptop computers and also some electricity to be able to possess and transact with it unlike gold that it has a physical appearance and you can touch it or hold it without the use of this modern technological things and its value is not as volatile as crypto currencies.
Gold will still be gold and Bitcoin will still be Bitcoin and nothing will change about this two kinds of things that have value. And gold to be replaced by Bitcoin is pretty impossible in my point of view.

[nsson8e]

There's no point in replacing gold. Bitcoin is seen as an investment vehicle not as a currency. Most of us are HODLing bitcoin to earn profits. So,yes,they will probably coexist for a while.

[novokovskitve]

of course gold won't be able to force out anything, especially digital currency. so I don't think that it sometime happens.

[zubrr51]

The fact that Bitcoin is not ripe for the replacement of gold can be seen with the naked eye. Not enough power promoted and interest from the public.

[Aidenpeters]

Bitcoin might not replace gold but still won't change the fact it is still worth investing into just as gold, because both hold a great value and thus make for a good investment.

[Satosho Kakamolto]

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 never though Bitcoin should replace gold - Bitcoin is supposed to be a currency , not a store of value. This misunderstanding may end up Killing Bitcoin.

[carter34]

Gold is centralized and it is a fiat currency.

Is Gold really a fiat?   or a tangible form / asset that can be sold for fiat or exchanged for fiat   Just curious...

The fact that Bitcoin is not ripe for the replacement of gold can be seen with the naked eye. Not enough power promoted and interest from the public.

Has the argument been that bitcoin was prepared or innovated to replace gold? Or that gold was tired to be known as store of value and asset or a level of affluence?

I was thinking the argument has been that whether bitcoin can function as though a store of value and assets but not to replace gold because gold has not replaced fiat in my view.

[KassandrHicks]

Investing in bitcoin might be a ittle riskier than investing in gold. But it can be more profitable. I'm sure a good businessman will be interested in investing in both.

[InvestICO2L]

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.

These two items are basically different from its structure as well as some functions. As we all know that gold have been existing for a very long time, it has a big talk in various parts of the world, and especially it is tangile and is recognized officially around the world. When it comes to bitcoin, it’s considered as a currency but it’s not completely accepted officially, and particularly almost countries has imposed a ban on it. No one can deny that bitcoin or digital currency develop quickly and can bring us big potential in the future. But with the current running, Gold is much appreciate than bitcoin about the fixed benefit, I mean bitcoin can’t replace gold. 

[pooya87]

that is a very dumb statement which only has half truths!

bitcoin and gold are not even in the same category for bitcoin to try and replace gold! bitcoin is a global and decentralized currency which is unique in its own way while gold is an element which is used for many things but not as a currency and mostly as an investment. so you can't really expect a currency replacing gold! it is like saying USD is replacing gold!

the only thing correct about this statement is the fact that bitcoin is still young and it is in its early stages of adoption.

[Siren]

No one in good mind will think that a virtual currency like bitcoin will replace a too long time treasure that exist in this world like gold,even in the time of Gods this has been mentioned for lots of generations while this cryptocurrency only created 10 years ago and now will be replacing gold?Please clear up your mind and let the blood circulated for you to wake up that this will never happen even for a lifetime,Gold will remain treasure and bitcoin will remain cryptocurrency

[kesmex]

of course not, bitcoin and gold are two very different things bitcoin is made for investment, trade and is expected to be a currency, and gold is a place of investment and jewelry that has a more stable price, although bitcoin or crypto in the future is increasingly popular, bitcoin will still as a bitcoin will not replace gold.

[bajingluncat]

it is true that gold and bitcoin are the same investment tools, but they will not replace each other, because they have different roles and roles in life, it will be very difficult to replace gold because people's trust is very high and the number is increasing and not it is extinct, so it is clear that depending on our choices in gold or bitcoin, both are equally profitable but in terms of risk, I think gold is smaller, because the shape is real and the price fluctuations can be said to be quite stable