Bitcoin Will Replace Gold! Here's Why...

[FinanciallyFreeFox]

Overtime I've researched what has made gold desirable as a store of value.

Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.

Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.

I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.

I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.

Please watch the video and let me know what you think. Thanks

https://youtu.be/UyaNJMxWmSU

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[kryptqnick]

Gold is not just a store of value, some also consider it an investment opportunity. I'll explain how I find these two different. A store of value is something you can have something valuable in and then expect it to be more or less of the same value after some time passes. When investing money, however, you don't expect to have the same amount in the future, you want to have more, to make a profit. And I think that gold is a great store of value because it's fairly stable and low-risk. Bitcoin, on the other hand, seems like a way better investment, but it involves higher risks. So my point is that if you have $15k, and you want to save this money for your future adult children, gold might be a good option. If you want $15k, and you are willing to risk for the chance of having $150k in the future, then Bitcoin seems more suitable.

[FinanciallyFreeFox]

Gold is not just a store of value, some also consider it an investment opportunity. I'll explain how I find these two different. A store of value is something you can have something valuable in and then expect it to be more or less of the same value after some time passes. When investing money, however, you don't expect to have the same amount in the future, you want to have more, to make a profit. And I think that gold is a great store of value because it's fairly stable and low-risk. Bitcoin, on the other hand, seems like a way better investment, but it involves higher risks. So my point is that if you have $15k, and you want to save this money for your future adult children, gold might be a good option. If you want $15k, and you are willing to risk for the chance of having $150k in the future, then Bitcoin seems more suitable.

I agree, gold is currently less volatile and more stable that BTC. This is partly because it has a much higher market cap.

Bitcoin is still very early, but I believe in the future when Bitcoin's market cap is much higher, the volatility will be reduced.

Once this happens, the only advantage that Gold has, is its application and tangibility. Bitcoin is superior in almost every other aspect.

[rodel caling]

Nope even bitcoin is become to expensive I believe gold still valuable as investment in short keeping gold like bitcoin is profitable way how to get earn. But we know bitcoin and gold have an different rules as investment and asset bitcoin is a new form of money gold is isn't a money is pure investment.

[kawetsriyanto]

Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

As it is limited, it will have increasing value in the future. Many said that gold is the best investment as its value will not probably decrease because this is not volatile. Limitation of the gold doesn't mean that it will have less value, it is the opposite, they will have a higher value.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

Well, I also believe that Bitcoin has great value and it will have increasing value in the future, BTC has many benefits and advantages. But, I still wonder in that case it will surpass the gold? I think that both BTC and gold are something very worthy to invest both.

In case, both gold and BTC have their own upsides. But, they also have their own value based on their own characteristics. For me personally, I love investing in both BTC and gold.

[rdluffy]

We have to understand we are in a middle of something, in a transiction between old habits and new technologies and this is very hard to accept and understand fully
Gold probably will be replaced, with time. And even BTC will be replaced for something new and better, maybe we will be talking about something new to replace BTC in a few years...

It's crazy, but everything changes, and gold will change to

[tanchianjun]

Overtime I've researched what has made gold desirable as a store of value.

Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.

Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.

I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.

I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.

Please watch the video and let me know what you think. Thanks

https://youtu.be/UyaNJMxWmSU

I don't think bitcoin will send gold to oblivion. Both bitcoin and gold will co-exists together. There will be a market for both of them.

[pooya87]

you shouldn't even be comparing bitcoin and gold because they have nothing in common and not in the same category for one to replace the other. bitcoin is a currency and gold is many things but not a currency. gold will remain as it is as long as it keeps its use cases which it will. and bitcoin, as a separate and entirely different thing will grow only as long as it is offering what it is suppose to, meaning a decentralized secure payment system that is censorship resistant.

[Argoo]

We have to understand we are in a middle of something, in a transiction between old habits and new technologies and this is very hard to accept and understand fully
Gold probably will be replaced, with time. And even BTC will be replaced for something new and better, maybe we will be talking about something new to replace BTC in a few years...

It's crazy, but everything changes, and gold will change to

No, gold was, is and will be gold, an indispensable means of storing value, a measure of value and a means of payment. New technologies will only push him out of the market a little, but he will save his main positions. Bitcoin has many advantages, but it also has disadvantages, and above all, its high price volatility. New technologies also depend on the availability of the Internet, a power source, the need to interact with other technical means and the availability of these technical means as a means of ensuring payment. Especially these shortcomings will manifest themselves during various disasters and then people will again be drawn to gold.

[hardcores]

any statement stating bitcoin will replace gold I don't think it will be possible because gold and bitcoin already have physical differences that are certain people have chosen something that has a physical and high selling value because it is difficult to obtain.

[MonsterV]

It is not possible, gold is very different from bitcoin, gold is not same as fiat, it might be equivalent but it is not same so gold, fiat and bitcoin cannot be categorized together and replaced with each other. Gold has had a value of hundreds of years and it cannot be replaced by anything, more technology develops, gold will still be there because its needs increase with technology. They will coexist, maybe it will be replaced but it is still very long and it takes thousands or tens of thousands of years to replace this existing system.

[maydna]

Well, I don't have any perception about bitcoin will replace gold. I would prefer to see bitcoin and gold work by their way as the investment for people. And now, with bitcoin and gold, we have the opportunity to make a lot of money from both and bitcoin is not yet reach the very highest price because it is too volatile from time to time. But we cannot compare bitcoin and gold because it is different but in the same purposes to give a chance to people to make money.

[hatshepsut93]

If Bitcoin is so much better than gold, why it didn't surpass gold already? It's been 10 years since it was created, and adoption as a currency or as store of value is still very low - most people view it as a speculative asset. In the past some technologies took long time to get mass adoption, but this is because they needed a lot of improvements before the wider population can use them - this is not the case with Bitcoin, it's protocol is unlikely to see any major changes that would radically reshape it. So, why is Bitcoin not as popular as gold yet?

[davis196]

You are kinda right about the ease of access of btc vs. gold and the other stuff,but for the average Joe,gold is and always will be the ultimate store of value.The average Joe,who isn't tech savvy simply can't understand how the blockchain works and he will never trust bitcoin,because btc is like thin air for him,while gold can be touched.

[tranthidung]

you shouldn't even be comparing bitcoin and gold because they have nothing in common and not in the same category for one to replace the other. bitcoin is a currency and gold is many things but not a currency. gold will remain as it is as long as it keeps its use cases which it will. and bitcoin, as a separate and entirely different thing will grow only as long as it is offering what it is suppose to, meaning a decentralized secure payment system that is censorship resistant.

With the growth of bitcoin, crypto currencies, blockchain technology and more widely acceptance of crypto currencies globally, bitcoin will have better position in global financial areas. Bitcoin is a volatile asset, yes, but as we all witnessed so far, bitcoin has gradually become a new reliable channel when wars, conflicts occur.

I agree that there is no common thing between Gold and bitcoin, and they actually have different customer populations too. The elderly will have difficulty to assess term of crypto currencies, bitcoin, wallets, and more things, so bitcoin has still been more favorite by younger-generations. The elderly, includes investors will stick with Gold, but the young investors might prefer bitcoin, instead of Gold.

Generally, both Gold and Bitcoin will do exist together in human civilization.

[Ausgewielt]

I think it will be good if we make bitcoin and gold a complementary investment portofolio. Actually gold has better investment properties in some cases compared to bitcoin, and vice versa. Many investors pretend bitcoin as speculative investment which give bigger size of opportunity for investors to gain profit rather than gold. Gold price movement are more stable with a proven track record. Based on statistic data throughout the year, bitcoin strengthening around 206.59% against the US dollar while Gold strengthening around 10.88% . Bitcoin seems better than gold this year, but bitcoin also made many people complained about financial loss on 2017.

[Wind_FURY]

OP gold and other metals are their own market. Bitcoin and other cryptocurrencies are also their own market. There's no replacing of one for the other, because each has its own niche in society.

Then why not "Bitcoin will co-exist with Gold"? I believe the market share of one will grow, and the other contract, and back again depending on market cycles.

[FinanciallyFreeFox]

The average Joe,who isn't tech savvy simply can't understand how the blockchain works and he will never trust bitcoin,because btc is like thin air for him,while gold can be touched.

I think the younger generations will see Bitcoin as the natural choice for them. They were born into a digital world. Gold will seem more like an alien and senseless object to them.

If they can't engage with it using their smartphone, they won't be very interested in it.

If Bitcoin is so much better than gold, why it didn't surpass gold already? It's been 10 years since it was created, and adoption as a currency or as store of value is still very low

It will take time for the education to take place.

It will take time for the market cap to grow.

And it will take time for the younger generations to become of age where they will begin investing in Bitcoin, instead of Gold.

But we cannot compare bitcoin and gold because it is different but in the same purposes to give a chance to people to make money.

you shouldn't even be comparing bitcoin and gold because they have nothing in common and not in the same category for one to replace the other. bitcoin is a currency and gold is many things but not a currency.

A few important things to consider here:

1. Gold was a currency, but now is not a currency. It lost that status to promissory notes, and then they lost to fiat currency. So Gold can lose its foot-holding.
2. Bitcoin is not just a currency, it is a store of value, and is currently primarily used as a store of value. It will be used more as a currency in the future when the volatility stops. 
3. Bitcoin offers most of the advantages that Gold has, e.g. a high stock to flow ratio. So they do have a lot in common, and they have the same purpose. Bitcoin is superior in many attributes, except its utility as a metal.

I don't think bitcoin will send gold to oblivion. Both bitcoin and gold will co-exists together. There will be a market for both of them.

Yes I think they will co-exist for a long time.

[FinanciallyFreeFox]

OP gold and other metals are their own market. Bitcoin and other cryptocurrencies are also their own market.

The thing is though that if Bitcoin eventually fulfills the objective of Gold - a stable store of value - then why would someone buy Gold?

People buy Gold, not because it is shiny, but because it holds its value compared to fiat, which has inflation.

If Bitcoin can offer this at a superior level to Gold (when Bitcoin eventaully has a higher Stock to Flow Ratio) then people will likely start opting for Bitcoin instead.

[killat]

It is all about offer and demand. Today everyone wants gold, as having hold offers you the stability of having a non-volatile asset and also the possibility to create your own jewelry if passionate about it.

To become a virtual gold Bitcoin needs a mass adoption. It is limited, secure, it start to have more and more use cases, so there is a good potential to become a virtual gold in the future.