Dinar, Dirham to BITCOIN

[crossabdd]

there are some people consider Bitcoin is digital gold. because of its mining system and limited stock. So do you think the concept of bitcoin refers to Gold? because gold has a stable value throughout the world. if true. then the country that uses the first stable coin is arabic, with its dinar and dirham. and perfected by bitcoin with computer networks and the internet. What's your opinion.?

[Immakillya]

there are some people consider Bitcoin is digital gold. because of its mining system and limited stock. So do you think the concept of bitcoin refers to Gold? because gold has a stable value throughout the world. if true. then the country that uses the first stable coin is arabic, with its dinar and dirham. and perfected by bitcoin with computer networks and the internet. What's your opinion.?

Yeah, Bitcoin is  digital Gold. Actually, the solving of transactions is called mining. So yeah, i think the concept came from Gold. But not as stable like actual Gold and not backed by real gold. Some stablecoins out there are using real Gold tho. So they are more stable than Bitcoin. Some are backed by their national currency. But they are more likely just for safehaven for unstable cryptocurrency market.

[rodel caling]

there are some people consider Bitcoin is digital gold. because of its mining system and limited stock. So do you think the concept of bitcoin refers to Gold? because gold has a stable value throughout the world. if true. then the country that uses the first stable coin is arabic, with its dinar and dirham. and perfected by bitcoin with computer networks and the internet. What's your opinion.?

I don't know it impossible to compare digital currency into the gold because both have an own function and use in the market, like fiat market every country have an own control of their currency circulation.

Gold has had varying buying power and other altcoins and stable coins have been varying as well and can't be compared to old-world historic currencies.

This is absolutely correct and I agree with you sir to be clear have a big difference between digital gold and physical gold.

[timerland]

there are some people consider Bitcoin is digital gold. because of its mining system and limited stock. So do you think the concept of bitcoin refers to Gold? because gold has a stable value throughout the world. if true. then the country that uses the first stable coin is arabic, with its dinar and dirham. and perfected by bitcoin with computer networks and the internet. What's your opinion.?

It can be compared to some aspects of gold but is also completely different to how bitcoin works in some aspects, but it's been dubbed "The Digital Gold" for such a reason.

For example, bitcoin has a limited supply like gold, but it's unstable, unlike gold, and also has quite a lot of demand. It's also pretty safe if there are ever any issues with fiat and it'll be able to retain its value.

[Shasha80]

That's right the concept of bitcoin is the same as gold in the real world, because of the way the mining system and its stock are
limited to making a similarity between bitcoin and gold. Therefore, bitcoin is referred to as digital gold. Although once there is a
difference between gold and bitcoin in price, bitcoin as we know the price is fluctuating because has volatility while gold is more stable.
When discussing the dinar dirham from arabic it is gold from arabic, of course the character is the same as gold in general.

[karanggatak]

dinar and dirham system is like this. you can buy one chicken with one dirham, two years later you buy one chicken with one dirham. there is no different when you buy right now or for some years later.
2010 someome buy pizza with 10.000 bitcoin, now how many bitcoin if you want pizza? 10.000? nope, it just 0.00... so when you said that bitcoin system is sam like dinar dirham, i will say you are wrong.

[kawetsriyanto]

Dinar and dirham are a bit different from Bitcoin. Let's see some different things below.
1. Dinar and dirham are recognized by all countries in the world, while there are many countries still not recognizing Bitcoin.
2. Dinar and dirham have been proven to have stable prices, while Bitcoin's price is volatile or unstable.
3. Dinar and dirham are backed up by an institution, while Bitcoin is not backed up by any institutions.

We cannot conclude that Bitcoin is a digital gold based on some people's opinions. It should get a legitimation from many parties.
However, I don't say Bitcoin cannot be a digital gold but I think it is too early to equalize Bitcoin and Gold.

[mr3dds]

Nope, their governments are just supporting the currency and keep it at a range beneficial for their economic system. Egypt had similar system,but everything got missed when the economy dropped.

So, as long as these country economy is ok, they can support their currency. Otherwise, it will be open to trading and price will shift.

Free price is better in my opinion. These situation will surely lead to economic problem, now or later.

So, in my opinion, these currencies are very far from gold. Gold is staple while being open to trading.

[CryptoBry]

Bitcoin is called as the digital counterpart of gold for some reasons but it does not mean that it has all the features that the real gold has. One, just like gold Bitcoin has a finite number of supplies or limit. Second, there is so-called mining and we know what does it mean for both Bitcoin and physical gold. Third, both are valuable and traded in the global marketplace. Now, of course there are features that made both assets to be different. For example, real gold has weight because it is tangible (can be seen and touched) while Bitcoin is the opposite. Gold can be processed and be made into different products and has many industrial uses and the same things can not be said of Bitcoin. Bitcoin just recently came into the history of humans while the real gold has had been with us for millennia.

Gold, in terms of price movement, is more stable than Bitcoin as it has little volatility the thing that makes Bitcoin a stand out but also a feast for many speculators. However, both are considered to be good store of value and that is why they are compared side by side and many of those who are into gold are not also eyeing how they can invest in Bitcoin. Gold should have been the one backing many fiat currencies but starting in the 70s this had been changed that is why many consider the current fiat system to be soon worthless...lucky are the limited countries who are still tying their currencies with the value of gold.

[crossabdd]

Dinar and dirham are a bit different from Bitcoin. Let's see some different things below.
1. Dinar and dirham are recognized by all countries in the world, while there are many countries still not recognizing Bitcoin.
2. Dinar and dirham have been proven to have stable prices, while Bitcoin's price is volatile or unstable.
3. Dinar and dirham are backed up by an institution, while Bitcoin is not backed up by any institutions.

We cannot conclude that Bitcoin is a digital gold based on some people's opinions. It should get a legitimation from many parties.
However, I don't say Bitcoin cannot be a digital gold but I think it is too early to equalize Bitcoin and Gold.

yes it is indeed different because there is still controversy for bitcoin. and the dinar dirham has long been recognized. I think it's because there is no manifestation of bitcoin. just a system that makes it different. but that could be possible if one day bitcoin is recognized throughout the world. and become the best currency.

[bounceback]

dinars and dirhams are gold coins that were first used as currency in Muslim countries (ARAB) dinars and dirhams also had very expensive market prices at that time the Arab countries and they used the dinar as a dowry for marriage and also for giving alms because all Arabs at that time were Muslim, so in my opinion bitcoin has not been recognized by other countries as digital gold.

[stompix]

if true. then the country that uses the first stable coin is arabic, with its dinar and dirham.

The dinar and the dirham appeared in the 6-7 century AD.
The first gold coins were created in Lydia around 550 BC, a full one thousand years earlier.
Then there were gold coins created by the Greeks, the Persian and Roman empire and many others till the Arabs.

So no, the first "stable" coins were by no means Arabic.

Some stablecoins out there are using real Gold tho.

Never heard of one that wasn't revealed to be a scam!

Some are backed by their national currency.

Again, I never heard of national stable cryptocoin.
Care to give some examples?

According to some experts in this industry, Bitcoin will become back up by gold when there are no bitcoins to mine. some say there will be a lot of debates with this digital currency along the way.

Realy amazing topic, so many new things I have no clue about..../sarcasm
Again, who are those experts? What the hell has the backing to do with the mining?

[crossabdd]

dinar and dirham system is like this. you can buy one chicken with one dirham, two years later you buy one chicken with one dirham. there is no different when you buy right now or for some years later.
2010 someome buy pizza with 10.000 bitcoin, now how many bitcoin if you want pizza? 10.000? nope, it just 0.00... so when you said that bitcoin system is sam like dinar dirham, i will say you are wrong.

I don't think guys, the dinar dirham still follows the price of gold. maybe 1 chicken is one dinar and 2 years later the same. but that applies to only one country. when it comes out of arab, then the exchange rate is the same as Bitcoin, fluctuating. the difference is only one recognized and not recognized by the state.

[glendall]

I agree if the concept of bitcoin refers to gold and dirhams, but the question is, why is bitcoin so volatile and gold not?
whereas gold is very difficult to obtain and only certain people can mine it, in contrast to bitcoin that other people can easily mine it.
if bitcoin is like gold in the real world, it is very volatile, this is what causes confusion,
Is Bitcoin actually made to be digital gold and become a payment instrument like gold in the real world?
or only as a speculation tool?

[pooya87]

because gold has a stable value throughout the world.

wait a minute, why do you think gold has a stable value? as a matter of fact just recently the value dropped about 5% and this year it is up 21%. of course it is a lot more stable compared to bitcoin but we shouldn't even make that comparison because of the age and size of the two market.

[metallica101]

there are some people consider Bitcoin is digital gold. because of its mining system and limited stock. So do you think the concept of bitcoin refers to Gold? because gold has a stable value throughout the world. if true. then the country that uses the first stable coin is arabic, with its dinar and dirham. and perfected by bitcoin with computer networks and the internet. What's your opinion.?

I think Bitcoin can't really be compared to anything from the past. It is unique in what it is and how it works. Of course, it is most commonly compared to gold, but it is better than gold. It is borderless, decentralized, and we know that it has a limited supply, as well as how big that supply is. There are no guarantees that someone won't discover a massive new source of gold at any point, knocking down its value. That can never happen to BTC, and as soon as it starts seeing greater adoption, its value will have to skyrocket.

[Casdinyard]

there are some people consider Bitcoin is digital gold. because of its mining system and limited stock. So do you think the concept of bitcoin refers to Gold? because gold has a stable value throughout the world. if true. then the country that uses the first stable coin is arabic, with its dinar and dirham. and perfected by bitcoin with computer networks and the internet. What's your opinion.?

I don't know it impossible to compare digital currency into the gold because both have an own function and use in the market, like fiat market every country have an own control of their currency circulation.

While gold is tangible and bitcoin is not. These two had discussed over and over again and we can't certainly compare them and the fact that both have really good appreciation.

Is Bitcoin actually made to be digital gold and become a payment instrument like gold in the real world?
or only as a speculation tool?

Initially, bitcoin is really tend to be a digital currency but with it's appreciating value, it's perceive more than an investment and less than a currency.

[soadrlz]

dinars and dirhams are gold coins that were first used as currency in Muslim countries (ARAB) dinars and dirhams also had very expensive market prices at that time the Arab countries and they used the dinar as a dowry for marriage and also for giving alms because all Arabs at that time were Muslim, so in my opinion bitcoin has not been recognized by other countries as digital gold.

AFAIK all Arabs are still Muslims.Nothing has changed
I don't know why the OP mentions dinars and dirhams.Gold coins have been used in many other countries around the world,even before the Arab civilization.

[Kakmakr]

there are some people consider Bitcoin is digital gold. because of its mining system and limited stock. So do you think the concept of bitcoin refers to Gold? because gold has a stable value throughout the world. if true. then the country that uses the first stable coin is arabic, with its dinar and dirham. and perfected by bitcoin with computer networks and the internet. What's your opinion.?

The stability of any currency comes from the even distribution of the currency and also the government manipulating the supply. Gold are also less volatile than Bitcoin because cartels are manipulating the price.

Bitcoin will also become less volatile as more coins find their way to more people. <As it moves from Bitcoin whales to more individuals> The whales have loads of coins and a bunch of money to influence the price on a daily basis. 

The fact of the matter is, all markets are being manipulated in some way. 

[romero121]

there are some people consider Bitcoin is digital gold. because of its mining system and limited stock. So do you think the concept of bitcoin refers to Gold? because gold has a stable value throughout the world. if true. then the country that uses the first stable coin is arabic, with its dinar and dirham. and perfected by bitcoin with computer networks and the internet. What's your opinion.?

The stability of any currency comes from the even distribution of the currency and also the government manipulating the supply. Gold are also less volatile than Bitcoin because cartels are manipulating the price.

Bitcoin will also become less volatile as more coins find their way to more people. <As it moves from Bitcoin whales to more individuals> The whales have loads of coins and a bunch of money to influence the price on a daily basis. 

The fact of the matter is, all markets are being manipulated in some way. 

The manipulation of the gold market gets limited as the distribution is even as stated. When we talk about bitcoin or other cryptocurrencies, there is large scale accumulation of bitcoin in limited accounts. This makes the Market easily manipulative. This will gets slowed down when the usage continues with the years of its survival.

Once gold too had the similarity, but with its years and years of usage now there is even distribution. And when we think of the dinar dirham or other currencies they have their own backing asset. Most being gold, and when it comes to their own stable coin they've chosen gold to have a fair distribution of value than just tokenising.