Has Bitcoin already won ?

[imstillthebest]

if there are thing such as gold 2.0 then that will still be gold in upgraded fashion but you cant call bitcoin a new gold or a gold 2.0 because its not a gold anyway  . bitcoin needs to become a currency because that is its purpose but it can also work the other way around   . it can work like a gold in which you can buy and make it as an investment asset   .  gold standard are much superior and bitcoin is not on the level of gold or on the standard of gold yet  . it will still take many decades and centuries to prove itself but its possible that other cryptos are being measured by bitcoin  .

[NathanJB]

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

There is no winning for as long as Bitcoin's value solely depends on its brittle reputation as a store of value. Gold is something whose value is sealed for eternity. Bitcoin cannot be like that. In fact, if we truly think of it a little bit deeper than most of us, without bias or prejudice, Bitcoin came from nothing and such is the very reason why it will also be gone. In the next 50 scores, or 10 decades, or the next couple of centuries or millennia, we do not know. What we know is that Bitcoin, too, shall pass.

Becoming a currency is an awesome feat for Bitcoin but it will not keep it forever wanted and utilized.

[matchi2011]

if there are thing such as gold 2.0 then that will still be gold in upgraded fashion but you cant call bitcoin a new gold or a gold 2.0 because its not a gold anyway  . bitcoin needs to become a currency because that is its purpose but it can also work the other way around   . it can work like a gold in which you can buy and make it as an investment asset   .  gold standard are much superior and bitcoin is not on the level of gold or on the standard of gold yet  . it will still take many decades and centuries to prove itself but its possible that other cryptos are being measured by bitcoin  .

It can be an investment asset indeed, but the catch is Bitcoin can rise high to the point that it will provide a huge benefit to those people who are interested to work and continue to invest their money. A lot of speculations regarding to the possibilities to become another venue of investment and wait till the value to rise high and become a good asset for its long term success.

[buwaytress]

bitcoin does not become a currency, it has always been a currency and then became an investment and then in later years since people kept comparing it with gold they came up with the name "gold 2.0" but since a lot of users including you are new around here you saw the end result of that and you think that end is the start and the future is becoming a currency.

I don't think it moves along those straight lines really. Bitcoin didn't ever stop being a currency, it started as something that attempted to be currency, was finally used by a few people and then adopted by others.

It's still a currency to guys like me, we only get paid in Bitcoin. This forum is full of Bitcoin users sending and receiving as currency.

Never took to the gold comparison myself. Investment? That's speculation and happens to anything volatile.

[yazher]

Hmmm.... not sure if you guys watched the video , but my point was that a globally trusted store of value is a lot more important to global economics than a single currency.

We can say that Bitcoin has accomplished its purpose but not 100% but its a lot of accomplishment when it became known to the world.
The only problem that we are facing now as a Bitcoin enthusiast is its vulnerability to being used by those criminals.

If we can only find some way to stop this mischief caused by those criminals by using the name of bitcoins we can help it to become more popular in a positive way. All we can do now is we cannot let those Thug do what they want rather let's educate people that not all bitcoins are being used for criminal purposes only few are used by them.

In general, Bitcoins are being used as a means of payment by some big company in the world and in the local public government office, office on some other country, Bitcoins are being used to as a legal way of payment.

[abel1337]

bitcoin does not become a currency, it has always been a currency and then became an investment and then in later years since people kept comparing it with gold they came up with the name "gold 2.0" but since a lot of users including you are new around here you saw the end result of that and you think that end is the start and the future is becoming a currency.

I don't think it moves along those straight lines really. Bitcoin didn't ever stop being a currency, it started as something that attempted to be currency, was finally used by a few people and then adopted by others.

It's still a currency to guys like me, we only get paid in Bitcoin. This forum is full of Bitcoin users sending and receiving as currency.

Never took to the gold comparison myself. Investment? That's speculation and happens to anything volatile.

Bitcoin is considered as currency, Everyone cant change that fact unless satoshi Nakamoto does a thing in order to change bitcoin.

On the gold standard, Every gold that your country had is converted into fiat.

Regarding the post of OP. The gold standard doesn't apply to bitcoin. These are the reasons.

First, You can't convert all of the fiats into bitcoin because it has a fixed asset.

Second, you won't know who is the one who is holding bitcoins

Third, Not everyone can use bitcoin


There is more disadvantage than disadvantage thats why this will never be the new gold standard.

[phamminhtan]

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

Bitcoin has proven itself to be gold for a long time, and users are increasing daily. Please wait patiently.

[poptok1]

I believe that the greatest victory for Bitcoin will come when major retail companies like Amazon, Best Buy and the rest starts to accept it as a means of payment. I am sure that a time will come when they start doing that very soon.

Let's face it, those mentioned by you are small fries compared to transactions taking place in petrol industry.
The moment of absolute win and domination of bitcoin over the world is the first, legal and official petro-bitcoin deal.
Obviously it will also mark the new war, war on crypto from our current world policeman...
That's why I still think we can't declare a pure win. Long and twisty road ahead, Pikes Peak seem like corresponding comparison.
Power(adoption), grip(trust) and excellent driver(smart management) will be necessary in order to storm on to the top.  

[ChrisPop]

I don't think it is appropiate to compare Bitcoin to Gold. Gold is an hard asset, a precious metal with physical properties while Bitcoin is a virtual cryptocurrency. But fiat money aka USD does not have backing in hard assets(banknotes' materials are pretty much worth 0). Bitcoin is deflationary and it isn't controlled by a central authority like the fiat is controlled by governments. That makes it the perfect contestant to be the first worldwide mainstream currency.

If you are familiar with those SF movies I assimilate BTC/crypto to the "credits" used for transactions in space.

[Shenzou]

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

It is true that bitcoin has come along way from the state that it was on a couple of years ago, even though that it already caught the attention of many people and many investors i still don't think that it is considered gold 2.0 yet, and that is due mainly to how governments are regulating it which is holding many from holding it, so they might invest some money in it and once the price goes up a bit they sell it, they are not comfortable in holding it a long time knowing that at any point they could get pursued by law for it, it is going in that direction but there is a lot that needs to be made.

[teosanru]

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

Has it isn't enough. Bitcoin was never designed to become Gold 2.0 or any commodity. Gold is a jewel which is popular because of its scarcity. It was used for a medium of exchange in our history for a short period of time however, it was never designed to be used as medium of exchange. While Bitcoin on the other side  was used for transaction and act as a medium of exchange. It was never developed to create scarcity and increase it's price. So no countries will never make bitcoin as a standard like Gold Standard and nor will people use Bitcoin as Gold 2.0 Investment.

[pieppiep]

I don't think it is appropiate to compare Bitcoin to Gold.

Yes, you are right. Bitcoin and Gold have run for different ways. Some people prefer to invest in Gold while others prefer to invest in Bitcoin, but some others prefer to invest in both Gold and Bitcoin. And so far, Bitcoin can be the investment and also a new payment method on the internet and some in real life.

But Bitcoin can be a Gold 2.0 on the internet and Bitcoin can be a new currency for all country if the government accept Bitcoin. We need approval from the government before Bitcoin can be a new currency so Bitcoin can work in real life and online life. Without that, people will be scared to use Bitcoin because they don't want to break the law.

[Lalafell]

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

In many ways, gold is the precious metal counterpart to the bitcoin. Gold must be obtained through mining, just like how bitcoin mined. But, while gold is obtained through physical mining, bitcoins must be “mined” virtually through the deciphering of special computer encryptions. Bitcoin’s characteristics have led to those backing the cryptocurrency to believe it could potentially unseat gold over the long haul, bitcoin is actually superior in many regards.

[betty11]

Bitcoin has been able to address the many flaws of traditional currency and other centralized digital money, combined with its fixed supply and proof of work, POW, It's clear that bitcoin should be consider a digital gold by nations. If not for the sake of Mafias we have in the banking industry and bad politicians, bitcoin should have longed been given the necessary support by the government.

[bellicose]

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

Who is he and why is his opinion the only true one? In my purely personal opinion, bitcoin is simply out of competition. Some new coins may have a better algorithm, but they appeared at the wrong time and in the wrong place.

[Lmaooo]

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

Bitcoin was originally created as a digital store of value and also a payment system.
People have to choose whether to use bitcoin as a store of value or a payment system because the bitcoin is both. 

[randegibran]

Bitcoin still need revolution how to promote around to the world and many people still do not know detail about how bitcoin working, have to legal bitcoin to make really become the winner at the future.

[Youghoor]

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

First and foremost, Bitcoin is never Gold 2.0. Bitcoin was meant to be a digital version of physical fiat which operate of a platform where people will not need any third party for transactions to be made according to Bitcoin's whitepaper. It is quite unfortunate that the majority of people in the crypto ecosystem see Bitcoin as an investment commodity rather than a digital cash used for exchange of goods and services.

[johnpaul94]

Personally I feel that bitcoin has achieved a lot and have come a long way to the point of saying they have won. Winning is a continuous activity and with the present increasing awareness and dissemination of information about its credibility in this economy It just begs to tell how vast the winning platform is and will be for bit coin.

[buwaytress]

I don't think it moves along those straight lines really. Bitcoin didn't ever stop being a currency, it started as something that attempted to be currency, was finally used by a few people and then adopted by others.

It's still a currency to guys like me, we only get paid in Bitcoin. This forum is full of Bitcoin users sending and receiving as currency.

Never took to the gold comparison myself. Investment? That's speculation and happens to anything volatile.

Bitcoin is considered as currency, Everyone cant change that fact unless satoshi Nakamoto does a thing in order to change bitcoin.

On the gold standard, Every gold that your country had is converted into fiat.

Regarding the post of OP. The gold standard doesn't apply to bitcoin. These are the reasons.

First, You can't convert all of the fiats into bitcoin because it has a fixed asset.

Second, you won't know who is the one who is holding bitcoins

Third, Not everyone can use bitcoin


There is more disadvantage than disadvantage thats why this will never be the new gold standard.

Um yeah, I was just saying I'm not really a believer in Bitcoin being the gold standard or that Bitcoin is Gold 2.0.

Rather different reasons (or at least, not all the same reasons as you) but yeah, you could convert out all the Bitcoin to dollars right now and not have enough coin, is one reason.

But are you saying we all know who holds all the gold as well? That's not at all possible.