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

[Wind_FURY]

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.

I believe each market will have its own niche in society. Gold found its niche, Bitcoin will too. But I don't believe one will kill of the other because the other one is "better", liquidity will only shift from Gold to Bitcoin, and Bitcoin to Gold cyclically.

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[leea-1334]

OP does have a few good points but the research falls into the weakness of many past research just like this,,, and therefore will not get the right attention. Studies must need to be really well cited with solid verifiable citations. This is the basic scientific methods that simple academic studies implement. Until we can do that for Bitcoin, let us not try fill the space with more such videos,,,

[Leonardo7]

Gold is less volatile, and the conservative investors will always go for gold as a store of value and investment. If the world adopts bitcoin, then the price will be more stable and quickly bring a return on investment, and the people of the world will have no option than to follow bitcoin not totally leaving gold behind.

[FinanciallyFreeFox]

OP does have a few good points but the research falls into the weakness of many past research just like this,,, and therefore will not get the right attention. Studies must need to be really well cited with solid verifiable citations. This is the basic scientific methods that simple academic studies implement. Until we can do that for Bitcoin, let us not try fill the space with more such videos,,,

Thanks. At the end of the day, they are ideas, not fact.

And ideas don't necessarily need to be backed by science. They're just ideas.  

I think it's useful and even enjoyable to consider the possible outcomes. There is no harm in considering, and being aware of what may be possible.

When Bitcoin was first created, not many people predicted that it would get this far. Part of the reason for this, is that they were afraid to think big, and even consider that possibility.

I think you are correct though, the video is very basic and needs more precise and clear solid facts to back the points.

I appreciate you watching - the reason I create videos is to share ideas; see how they stack up; get feedback on them; and see if people are thinking the same way, or, differently.

[whtchocla7e]

Gold is more than just a sum, it represents wealth, elegance, and beauty. Bitcoin cannot replace it, most people in the world are not aware of blockchain technology, bitcoin. Bitcoin has a strong volatility that is not suitable to replace gold. So this cannot happen in the future.

[taratorly]

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

It wasn't a day before people started caring for gold. Silver was still a precious mine until people trusted gold. And gold's value surpassed silver. Who knows, in the future, Bitcoin moves faster than gold.

[Jet Cash]

Bitcoin will never replace gold, they are in totally different asset classes. You might just as well say water will replace air, both are essential to life, and they will continue to co-exist.

[longtkhd]

Gold is just a way for us to store our assets, Bitcoin can completely replace it in a future okay, but the stability and hard value of gold is still helping it win the trust of everyone.Hopefully the growth of bitcoin will be faster to gradually replace gold.

[coinycoiny]

Once upon a time people thought tulips were a better investment than gold.

[nicecrypto]

Even if this where to be true, I think it will be limited to those who are using btc for one reason or another, there are other category of people who gold are still very valuable to are will continue that way for as long as they exist, those people who wear gold accessories will always value gold come what may.

[esofelap]

First of all, a half of topicstarter's words are just future targets. For today's moment the BTC usability is too low.

[Youghoor]

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 really think you understand the main ideology and purpose of bitcoin. If you do, you will never say that bitcoin is gonna replace Gold. Bitcoin was not developed to be an investment entity but it was meant to be an alternate form of physical currency which has no central body controlling it and provide a peer to peer environment for people to transact business with lesser charges.

[nabilapimpo]

Bitcoin compared to gold, I think each of them has advantages and disadvantages. For long-term investments, gold will not give a big advantage, because the selling value is stable. Although Bitcoin is unstable, it is capable of generating great profits, even if you are using small capital.

Gradually people will see the potential owned by Bitcoin. They will also switch to Bitcoin because in this digital era people want instant gains. So Bitcoin is the right solution to invest.

[squatter]

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.

They have more in common than meets the eye. Both gold and bitcoins are commodities as conventionally defined. More specifically, they could also both be considered commodity money -- as opposed to fiat money. After all, gold-money has served the function of currency for thousands of years. Bitcoin as a currency is actually much more immature.

Gold has other uses of course, although "money" (store-of-value, medium-of-exchange) is obviously the primary one. The OP is specifically talking about the store-of-value use case.

[Ridwan Fauzi]

The intention of Satoshi Nakamoto to create bitcoin at 2009 ago is just for to make the payment system become easy. Which is mean he was created that bitcoin only for payment system and replace the function of money fiat. And I think he has succeeded in making this happen especially for the payment system which is make in different countries also to send money for those people in different countries.

But, since bitcoin price is depend on supply and demand which is mean depend on the user itself the price of bitcoin is really volatile and can make its price get through the value of gold. So, many people are consider that bitcoin is really have a function then bitcoin. Because bitcoin have two function that doesn't have by gold. I never seen there is some people who use gold as payment system although its price really stable.

But it will takes a long time to make bitcoin be trusted by all people on this world be like they sees gold. And I think that is just a matter of time and we will see that happen.

[jake zyrus]

I don't think bitcoin will replace gold because bitcoin is bitcoin, gold is gold. The two of them both have value, gold is physical while bitcoin is digital. In the modern world, we may become dependent on the technology but I don't think gold will lost or lessen its value. Gold is from the nature itself and is also limited, man didn't make it unlike bitcoin, and in the future, it'll be hard to mine gold that would make it more valuable. While bitcoin may be volatile but it's also a good way of investment if you're planning to hold it for like 1-5 years. But if you're planning to pass something to your grandson, gold is good.

[peter0425]

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.

But that perception won’t last a lifetime mate yeah for now  average joe will choose gold over Bitcoin but things will change eventually and actual time after time there are more and more people worldwide are adopting and investing in crypto so it won’t take more than 10 years for this thing to finally happen .and I believe that when people had realized what do why bitcoin created fo sure they will changed mind from gold to crypto

[bryant.coleman]

Bitcoin has its own place in the portfolio of investors, and gold has its own separate space. We don't need to compare these two assets, as they are very different from each other. You can argue that Bitcoin is capable of replacing fiat cash or equities, but I wouldn't go ahead and claim that it is going to replace an asset such as physical gold.

Gold is being used by humans as an investment asset for the past thousands of years. None of the central bank issues assets, including treasury bonds or banknotes have managed to poach on its market share. The same goes for Bitcoin as well. As it is a digital asset, in future Bitcoin will be replaced by some other asset. But gold will always be there, irrespective of the technological advances.

[Burogh]

I don't think bitcoin will replace gold because bitcoin is bitcoin, gold is gold. The two of them both have value, gold is physical while bitcoin is digital. In the modern world, we may become dependent on the technology but I don't think gold will lost or lessen its value. Gold is from the nature itself and is also limited, man didn't make it unlike bitcoin, and in the future, it'll be hard to mine gold that would make it more valuable. While bitcoin may be volatile but it's also a good way of investment if you're planning to hold it for like 1-5 years. But if you're planning to pass something to your grandson, gold is good.

I agree, for many people, Gold is more attractive than Bitcoin. Gold has been proven for thousands of years as a safe haven asset while for many people Bitcoin is a speculative asset that has no underlying. In my opinion, Bitcoin and Gold will go hand in hand as an investment for many people

[Tylev]

Bitcoin or other types of cryptocurrencies will never replace gold. Cryptocurrency cannot replace the usual fiat payment system either. By its nature, it can be used only along with the national money of states and was created as an alternative payment system to the existing payment systems.
It should be noted that cryptocurrency and electronic non-cash types of payments are completely dependent on the Internet and technical means of receiving and transmitting data. With various cataclysms, there is a real threat of their failure and then a financial collapse ensues, people will again switch to a direct exchange of goods, that is, to barter transactions. Therefore, all payment systems must work simultaneously.