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Author Topic: Bitcoin Will Replace Gold! Here's Why...  (Read 808 times)
Capt00
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September 11, 2019, 09:17:13 AM
 #81

IF every country sells all of their Gold and starts HODLING Bitcoin.
But for sure it won't and they won't do that just for the sake of bitcoin.

And I don't see a reason why we have to replace GOLD with Bitcoin. I supposed to by more Golds and leave it there, anytime soon its price will rise but we don't know about bitcoin. Though it has the possibility but thinking where we could see assurance for market gains, most likely we can find it in GOLD.

Well, it has to decide what is best and what way we could be more benefited, either holding both of them or to sacrifice golds just for Bitcoin?

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September 11, 2019, 09:38:53 AM
 #82

I would accept that "Gold is dead", IF every country sells all of their Gold and starts HODLING Bitcoin. China is currently buying Gold, Russia too, as an opt-out instrument/commodity for economic crashes.

In my opinion it is difficult for a country to buy and hold Bitcoin as a reserve because Bitcoin is decentralized and there is also no clear regulation. It is difficult to replace Gold as a reserve because this has been a consensus for thousands of years. For generations who know the internet well, Bitcoin may be better but not everyone can accept bitcoin as a means of payment and many who cannot yet accept bitcoin as an investment tool


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September 11, 2019, 11:21:40 AM
 #83

I would accept that "Gold is dead", IF every country sells all of their Gold and starts HODLING Bitcoin. China is currently buying Gold, Russia too, as an opt-out instrument/commodity for economic crashes.

In my opinion it is difficult for a country to buy and hold Bitcoin as a reserve because Bitcoin is decentralized and there is also no clear regulation.


Decentralization makes censorship-resistance. I believe it would be because of that property that would make some countries/governments around the world buy Bitcoin as a necessity.


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September 12, 2019, 12:06:58 PM
 #84

Gold will remain gold. Bitcoin will remain bitcoin. Nothing will change
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September 12, 2019, 12:28:56 PM
 #85

Gold will remain gold. Bitcoin will remain bitcoin. Nothing will change

I also think the next 50 or even 100 years won't change much and gold will continue to be of value to many people. Even Bitcoin won't be able to do much about it. As long as gold cannot be mined or produced very cheaply, it will certainly be considered a safe investment for a long time to come. You can trade gold without electricity or internet. Bitcoin cannot offer this advantage at the moment. Therefore I am also of the opinion that gold and Bitcoin go hand in hand into the future.  Wink
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September 12, 2019, 12:58:54 PM
 #86

In my opinion it is difficult for a country to buy and hold Bitcoin as a reserve because Bitcoin is decentralized and there is also no clear regulation.

Regulation-wise, perhaps, but Bitcoin's decentralized nature doesn't have much to do with central banks not buying and storing Bitcoin. The 12.5KG bars they hold in a bunker are decentralized forms of money too.

The real problem central banks will face when buying Bitcoin is that there isn't much of it readily available, while they can get billions worth of Gold at any time of the day without effort. They can't just print x$ billion and then decide we'll buy a few hundred thousand BTC. They can perhaps do it once and empty the OTC market, but that scarcity will definitely be felt and people will value their coins even more.

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September 12, 2019, 02:05:56 PM
 #87

I agree that bitcoin and gold will be the only 2 options to keep money safe because they are both limited.but for bitcoin there is still time.peopöe stll think bitcoin is a ponzi, first we have to tell people its not.

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September 12, 2019, 03:02:09 PM
 #88

I don't think Bitcoin will replace Gold as a store of value but rather I would like to think of it as an alternative to Gold since we cannot

deny that Gold is fundamentally different with Bitcoin and both has unique properties that seems attractive to its supporters. If they

could only harmoniously go along side by side, then it could be much better. Imho.

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September 12, 2019, 03:16:10 PM
 #89



There is a big potential for Bitcoin to be replacing the real gold as the top and preferred choice as store of value but it does not mean that eventually gold will be gone. There are a lot of reasons why many people will still be more comfortable with the real gold compared to its digital counterpart. One big reason why Bitcoin can be competing well with gold is the fact that Bitcoin is easier to own and manage and of course Bitcoin is acting more like a real currency compared to gold. However, I don't think there should be some competition with gold and Bitcoin as Bitcoin has many "rice" to eat before it can surmount the market for gold.

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September 12, 2019, 03:28:19 PM
 #90

I would accept that "Gold is dead", IF every country sells all of their Gold and starts HODLING Bitcoin. China is currently buying Gold, Russia too, as an opt-out instrument/commodity for economic crashes.
Which is quite impossible, there is no way people can sell their gold for no reason, when the government has not placed a ban on the use of gold, gold has been a very wonderful asset of investment, and many people have been made through it, and it has also been legalized as mean of payment which government themselves are using, so they would never give it up for anything.

When bitcoin came in to the picture, it only came as means of alternative to some of this things and not to replace them because even satoshi knows that it would be impossible for it to replace fiat and gold, the only thing is that along the line, it may just bet more popular than other means to asset because it is digital and virtually everyone is really going digital now, and our next generation are the ones that will accept this solution more than us.

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September 12, 2019, 04:05:43 PM
 #91

simple,because it's the best Wink Wink
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September 12, 2019, 04:27:08 PM
 #92

Bitcoin will not replace gold. It's an asset of value for centuries and there will always be people who would like to invest in gold and have gold in their portfolio. To be honest, there is nothing to lose with gold. Also, it has the place in world economy.
To my opinion investors in gold and investors in Bitcoin are quite different types and that differences will not disappear.

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September 12, 2019, 07:44:59 PM
 #93

For now, I still do not see the possibility of bitcoin replacing gold, because if you come to many country and you go to some northern part, majority of them are illiterates, and even at their level of illiteracy, they virtually hold gold as asset and as investment opportunity.

When I see bitcoin, I see it as a system for the highly developed and exposed person in term of education and in terms of technology because bitcoin is strictly an internet based technology and this is what I see as limitation for bitcoin, but if bitcoin can be in form of a precious metal other than just digital alone, then it may be possible, but if you look at gold, you will see that it stands for both. It is only future that can tell anyway, I believe there is a greater future in cryptocurrency.

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September 12, 2019, 10:59:51 PM
 #94

I don't think Bitcoin will replace Gold as a store of value but rather I would like to think of it as an alternative to Gold since we cannot

deny that Gold is fundamentally different with Bitcoin and both has unique properties that seems attractive to its supporters. If they

could only harmoniously go along side by side, then it could be much better. Imho.
Gold symbolizes wealth as people have to keep it. Price is stable which is not really profitable compared to what Bitcoin can do but if we look its market assurance and to know who could still stand for long, it absolutely is gold.
However, we have to take the opportunity that Bitcoin it has. The profitability of bitcoin looks to be attractive that people first consider this than of gold which we think that gold becomes obsolete and left behind but I don't see this is a reason to replace gold cause it will be impossible to happen.




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September 12, 2019, 11:31:15 PM
 #95

again discussion of gold and bitcoin ... you don't want to get in this fight and bet:

Bitcoin Price ‘Will Never Hit $50K,’ Gold Bug Peter Schiff Tells Tom Lee

People will not stop buying gold because of bitcoin. I believe people used both, but for them to use both, bitcoin will have to be well regulated, with clear laws. And this will take many years, it is not something simple and it can not be done so early. so for now gold has more attention of many millionaires and billionaires

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September 12, 2019, 11:41:29 PM
 #96

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

Enough about this bullshit comparison. You don't really understand what Bitcoin is and the main purpose behind the development of it. In as much that people are investing into Bitcoin does not make it an asset or a precious coin.  Once you truly know and understand Bitcoin, you will never make a mistake to compare it with Gold.

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September 13, 2019, 12:47:35 AM
 #97

well I don't see bitcoin replacing gold because I feel they are both very important assets but in different sectors.Gold is a physical store of value and worn as a jewel. Bitcoin on the other hand is a digital assets, not physical , not a jewel that can be worn, but is as well also a great store of  money.
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September 13, 2019, 01:36:15 AM
 #98

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.

Bitcoin has no presence in the physical world.

Gold is a store of value, because it has additional uses in the real world, manufacturing and others,
which when gold price lowers these others utilities buy more.
Bitcoin is totally useless in a physical only setting, and has no other uses.

Gold will always surpass Bitcoin in actual global usage.
Plus if the bitcoin miners all go bankrupt , bitcoin dies.
If gold miners go bankrupt, my ability to use gold is not diminished in the least.


 

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September 13, 2019, 01:57:56 AM
 #99

I completely disagree with you. Gold is not just a store of value, it has a lot of uses in the world. I think you don't even know what gold is. You should research more on that first before you make a statement like this.

We are in a digital world, even if gold is a physical thing, gold can adapt too. Although it is quite difficult to believe, there are companies that have made a stablecoin back by gold so investment in gold can be easier to achieve.

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September 13, 2019, 08:23:40 AM
 #100

Debating in the topic is making me believe that Bitcoin and Gold will both be occupying their own small niches in society. Most normal, working people won't be buying Bitcoin, or Gold, because most normal, working people don't save to invest with their salaries.



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