Bitcoin Not Ripe To Replace Gold: Analyst Kristoffer Inton

[aliceHortrex]

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 is the most unjustified expensive resource imposed on people. It's just nonsense that some iron is worth a lot of money just because someone decided so. I do not like gold even in appearance. Unlike gold, bitcoin and blockchain have a really useful and progressive function for mankind

[rodskee]

Both have own indentity of importance for the investors
Gold are physical form of investment they can keep it in the house or in the safety bank
Gold are investment for long term every year their price increasing unlike bitcoin are up and down their value
Bitcoin as investment is very risky than gold because of high volatile and possible to hack by the hacker
Bitcoin and gold are profitable depends on the people choices and uderstanding about investment

[bcoinseliot]

Bitcoin was designed to improve the financial system by reducing time and fees of transactions and becoming a decentralized alternative to the traditional money controlled by governments. But as long as Bitcoin develops, its functionality extends, and people start to use it as a store of value like gold. But it can’t replace precious metal. Gold and Bitcoin are two different things that will just co-exist.

[bitfocus]

Who told him that Bitcoin is trying to replace gold!? that man is in serious misconception regarding bitcoin! he don't even know the things he talks about! shame!

[zeingrind777]

Bitcoin is indeed not ripe to replace gold. But other people are free to choose to invest in gold or bitcoin. In my opinion, Bitcoin and gold have the same function, but the difference is, bitcoin is not centralized and the price of bitcoin is very volatile. As long as holders and communities still believe in bitcoin, what is wrong with them investing in bitcoin? it is their choice

[Olayinka225]

Gold has been in existence for quite centuries.
So bitcoin can't just come in one or two years and says it wanted to liberate or displace gold....no no not possible. A lot gold has achieved and done and gone through in the market which bitcoin hasn't been through half of it.

[GoodAltcoin]

I agree with this statement and I personally believe that this was what the creators had in mind when they BTC was built. The point is that both gold and BTC are scarce. One day, we will dig out all the gold the Earth has and mine all the BTC there are. And that will determine the price of it. Exclusivity, secrecy. They are discovered, created at different time and of course with different features, but with the similar purpose. And BTC will not replace it, it will simply become an asset with the same features and value as the gold is today. Maybe that is a good way to put it, in 50 years BTC will be what is gold today.

[efffgin]

It is never meant to replace Gold anyway?

[Kimi80]

Yes, many investors regret for not investing in bitcoin  because it would give them good profit, considering that they invested in right time off course. I bet that many investors that invested late are regretting for getting involve in it at all. It`s all matter of perspective, a point in time.
Gold is much more stable and has been known as the most precious metal for centuries, highly valued among the people. Bitcoin is different thing, its value is highly variable and unstable so people that are willing to invest put themselves in much bigger risk. If there wasn`t that huge last years growth in value I am pretty sure that not many investors would even consider bitcoin as some sort of investment.
I agree that people should do both, investing in gold and in bitcoin, spreading assets in their own regime.

[Pan Troglodytes]

Yes, many investors regret for not investing in bitcoin  because it would give them good profit, considering that they invested in right time off course. I bet that many investors that invested late are regretting for getting involve in it at all. It`s all matter of perspective, a point in time.

it sounds exactly like a description of a bubble. Well, I believe that bitcon is not the bubble and it will still eventually grow with the growing adoption

Gold is much more stable and has been known as the most precious metal for centuries, highly valued among the people. Bitcoin is different thing, its value is highly variable and unstable so people that are willing to invest put themselves in much bigger risk. If there wasn`t that huge last years growth in value I am pretty sure that not many investors would even consider bitcoin as some sort of investment.
I agree that people should do both, investing in gold and in bitcoin, spreading assets in their own regime.

Yes, the assets are different type and not so correlated, so it makes sense to diversify between them

[ivanst776]

Gold is not enough to compare to bitcoin.
Its price is never go high like what BTC did in the market.
Though the only difference is you can hold and wear your gold!

[darklus123]

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  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.

You are somewhat right on that statement. I can tell that you were probably one of the early adopter of bitcoin (cryptocurrency) because you were obviously (with no hesitation) consider bitcoin as a currency.

The problem with the statement made by kristoffer is that his perspective towards bitcoin is different. Just like the other bitcoin users who consider bitcoin as a pure asset (like Gold) and not a currency.

while gold is an element which is used for many things but not as a currency and mostly as an investment.

As I've seen towards the new adapters is that just like kristoffer they think bitcoin as an asset like GOLD.

[Kakmakr]

There are a lot of similarities between Gold and Bitcoin, but they are not the same and Bitcoin will never replace Gold as a precious metal, because you cannot replace a metal with something that are digital. Let's take a quick example of one of the features of Gold that Bitcoin cannot replace, namely : " Gold is a very good conductor of electricity " -- How will Bitcoin replace that?

Gold is also used in dentistry because it is chemically inert, nonallergenic, and easy for the dentist to work with. -- How will Bitcoin replace that?

The two things cannot replace each other, but people might invest more in one of the two, because they like some of their features. <Store of value> 

[Broly46]

Gold do not make me money in 2018, I don’t know why would anyone want to invest into it, they should make more money and stop flaming bitcoin.

[Koenraad Lange]

Who told him that Bitcoin is trying to replace gold!? that man is in serious misconception regarding bitcoin! he don't even know the things he talks about! shame!

That's right, bitcoin is impossible to replace gold. Bitcoin is a digital currency, physically nothing. While gold is a real object, there is a physical. The use of bitcoin is wider than gold, because it can pay for transactions that exist throughout the world at the same time, because it uses the internet and computers or smart phones. While gold, can not be used in a short time because there are regulations.

[kelz1]

It can replace gold in some ways, some brave investment banks may decide to use bitcoin for moving funds around rather than gold. However, you can't jewellery out of bitcoin so gold will always be in demand

[Bezobraznike]

It can replace gold in some ways, some brave investment banks may decide to use bitcoin for moving funds around rather than gold. However, you can't jewellery out of bitcoin so gold will always be in demand

   
    Gold will be only that, jewellery. Crypto-currencies will change the economy we know, now it`s clear that more than ever. Price
dropped, talking about crypto-currencies raised a lot, now everyone talks about it. It`s just the beginning, later they will want
to have some crypto-currency and they will be in.
    Analyst Kristoffer Inton have a lot of gold, talking in favor of gold is what he needs to do to try to protect his asset. Frankly
he needs to think about diversifying and investing in Bitcoin.