Bitcoin Not Ripe To Replace Gold: Analyst Kristoffer Inton

[Peacemaker1994]

And if you must know bitcoin was never intending to replace gold the are two very different entity and do even function in the same manner bitcoin is a cryptocurrency base on blockchain technology and is nothing like gold

[killat]

I think Bitc could replace gold in the future. Nit in the nearest future as cryto market is still very volatile but when Bitcoin's adoption rate will raise significantly, btc has all it beeds to become a virtual gold:
- safety
- rarity
- stability (currently at least through cryto coins)

[efxtrader]

Bitcoin can be a digital gold because bitcoin is store of value. With limited supply, bitcoin can be more expensive and profitable than gold and i think bitcoin is more flexible than gold when we use bitcoin as payment in merchant

[bitbunnny]

If you ask me the purpose of Bitcoin is not to replace gold and there is also no need for that
Bitcoin and gold are two completely different categories and if you ask me they are not competition to each other.
There will be always people who will prefer physical assets like gold and those who would endorse the digital types of investment like cryptocurrencies.
So I don't why should Bitcoin replace gold and from the point of view that the best is to diversify the investments it's good to choose among multiple choices of different characteristics.

[muslol67]

It's not a good thing not to participate in this article. I think both Bitcoin and Gold are a nice investment tool. Both will be valued in the future. Investors can be create a invest box with both.

[lyks15]

I think this is right. Bitcoin is not ripe to replace gold because all we know that the inconsistency of bitcoin. Gold is also not consistent but it's value change but in a small amount only unlike in bitcoin when value's change it have a huge difference from the current value. So that's why we can say that bitcoin is not ripe to replace gold. But I know time comes that bitcoin cam be as the same as gold and the same or more than gold's consistency. But it can never replace gold. The more possible thing to heppen is gold and bitcoin will have a great competition in terms of investment.

[drmilind2004]

Someday, a space mining company is going to unload a shit-tonload of gold mined from some asteroid onto Planet Earth. And then, what happens to that ancient 'store of value' that thrived on scarcity once it stops being scarce?

OTOH Bitcoin is capped at 21 million coins, eternally. What would be a better example of scarcity at that time in the not-so-distant future? What then should be better entitled to the title: "store of value"!

The threat to Bitcoin can never be from Gold or any other commodity; neither from fiat. It can only come from competitor coins, or from deranged government action assisted by terrifyingly accurate intelligence.

[ardhigalau]

Who says bitcoin will replace gold? Precisely bitcoin will exceed gold, just waiting for the time until that time arrived. Gold can be produced freely, but not with bitcoin.

[TentallyMooN]

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.

You're right. Bitcoin can be compared to gold, but I think that it will not be able to oust gold from the investment market. People will continue to invest in gold, as this investment confirms many years of successful experience. Conversely, many are afraid to invest in Bitcoin, because they still do not know exactly what it is

[BitHodler]

Who says bitcoin will replace gold? Precisely bitcoin will exceed gold, just waiting for the time until that time arrived. Gold can be produced freely, but not with bitcoin.

Why would Bitcoin need to 'exceed' gold? Also, who says that gold's market cap won't be heading over $10 trillion by the time Bitcoin really takes off? Bitcoin increasing in value means the legacy system is messing up.

When the legacy system messes up, traditional farts park their capital in gold as safe haven asset, which means that Bitcoin has an even longer way to go in order to catch up on gold.

Another thing is that Gold can't be produced freely. It's even unprofitable for most businesses in the industry to mine gold right now with how the price hovers around or just below the break-even point.

[jerrison]

gold is a generally accepted valuable  and is worth tangible thing and also can be exchanged as it is globally accepted as it is among the precious stone in the globe. lets not forget that it came through a process just as the bitcoin is currently undergoing processes. and it is only a matter of time before it becomes a standard

[smartbitcoininvestor]

I don't think Gold and Bitcoin will ever replace each other. Gold is probably safer than Bitcoin overall since its value will probably never disappear, nor does it fluctuate as much. Bitcoin works great as an investment since it is both secure and transmutable. I would recommend getting a reliable hardware wallet or rolling over your IRA or 401k into cryptocurrencies. There are some places like Vaultoro where you can invest in both gold and bitcoin.

I would definitely do the research and, personally I would invest in both. 

[virtfund]

Gold still is a currency which is traded between big traders like banks and goverments. Saying that gold is not a currency according to which it is not mostly traded between individuals is not right. Like gold, bitcoin is considered by people as an investment instrument.

[WebTera]

I agree with you in the sense that you can not put in one row bitcoin and gold. All that connects them-it's two wonderful types of investment. But there the similarity ends. It is fundamentally different and each has a number of advantages and disadvantages.

[NeuroticFish]

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.

One can also say that maybe the world is not ripe enough for Bitcoin, not ripe enough for such powerful investment vehicles like the crypto currencies.
Many big investors rely on economists, and I truly believe that most of them just don't comprehend deflationary (crypto) coins.

[bitvelk]

I do not believe that bitcoin should replace gold. It is an alternative to choose where you want to invest your money. And you can invest in both-in bitcoin and gold. That's great.

[Glutius]

Why would he replace the gold? These are two radically different types of investments, so one can not replace the other. Gold is reliable, time-tested and can be touched. Bitcoin is a more modern type of investment, and besides, it is a currency. Therefore, bitcoin should not be considered as a replacement for gold.

[smartbitcoininvestor]

Bitcoin and Gold will never replace each other. Gold will forever have value in its pure form, especially with the myriad of technological uses which gold possesses. Bitcoin, on the other hand, is backed by the blockchain and is only 10 years old at this point. It is somewhat volatile however the invention of the Blockchain means Bitcoin will be here forever.

Those who have Bitcoin and Gold and want to trade amongst one another can use a service such as Vaultoro or GoldMoney. Take a look at this guide for more information: https://www.smartbitcoininvestments.com/how-to-buy-gold-with-bitcoin/

[reverseflash]

I see no point in replacing gold with bitcoin. These products can only be compared as an investment instrument and a product with a potentially high price. But only gold will never bring you fabulous profits, unlike bitcoin, as well as it will save you from the risk of capital loss.

[mekie]

Bitcoin is completely different to gold in so many ways. Bitcoin only exists on computers, gold on the other hand is a very useful metal that is used in those computers-and it is this usefulness that gives it an intrinsic value as well as it's decorative use. Bitcoin is more like the financial instruments devised by bankers, therefore Bitcoin can and will never replace gold and gold wont replace bitcoin.