Dinar, Dirham to BITCOIN

[GreenStox]

The digital currencies that you mentioned all have different forms and types, now bitcoin is very good because it can be used in many countries, bitcoin is able to be used for any transaction without complicated so this is what makes bitcoin can have expensive prices because it can be used anywhere quickly and safely.

[MonsterV]

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.?

Do not because gold and bitcoin have a limited supply, then you consider bitcoin to be gold in digital form, for me it is different and cannot be compared. There are many aspects that you have not considered such as different stability, different regulations, etc. Bitcoin is known as a currency while gold is an investment, somehow they can equate both. Likewise with the dinar and dirham you mean, I think all of them are different and have similarities in only a few aspects.

[Murat]

I don't like comparing Bitcoin with Gold, for me, Gold is the most popular as well as most stable goods for holding for the future purpose, Gold has an acceptance towards people and there is no doubt that it's the oldest version of saving tool. Not only that but also the price of Bitcoin is never be a stable coin, so how could you compare between these two goods, Bitcoin is the digital currency and it's yet to go a long way, on the other hand, Diner and Dirham also should not be compared to Bitcoin, they are stable and centralized by the authority of central bank, It's a lot of regulations and policies to become stable around the year, only inflation rate could hamper the value, but Bitcoin is totally different from this fiat money. there is nothing similarity.

[AniviaBtc]

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 is really a valuable like Gold, it can use as a digital money in many transactions. It is possible that the concept of bitcoin refers to Gold that it's value never change. It is not very stable like gold, it still varies in time. Gold is perfectly different from bitcoin, bitcoin is just a digital version of Gold.

[ChrisPop]

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.?

In my opinion gold is nothing but a metal with special properties. It can be used for jewelry and electronic chips if I remember good, but I wouldn't put to much trust in it in the eventuality of a worldwide crisis & I wouldn't say it has a "stable value". It has days when it has 3-5% price swings. A stable currency should be one which pretty much hovers about the same value and raises in time due to inflation. In conclusion I don't look at GOLD as a hedge for when the market turmoils. Bitcoin on the other hand should shouldn't be influenced by political and economical events in the world as it is supposed to be a decentralized currency. However Bitcoin still lacks the necessary adoption and usage, but slowly we're getting there.

[Mandoy]

Do you mean bitcoin having backed up by gold. If bitcoin will be backed up by gold then it would mean a very huge impact on bitcoin not only on the number of users but also its value. But it would be hard to backed bitcoin by gold since it is decentralized. Then let us go back to your suggestion of bitcoin being backed up by Dinar and Dirham since these monetary currency is backed up by gold. This is not a bad idea since the US economy is on the verge of economic collapse and one of the reason was the overproduction of US dollars that has no gold backed up. But this proposal is also hard to accomplish since most of the cryptocurrency exchangers are using USDT the cryptocurrency representing US dollars.

[Genemind]

Bitcoin is actually the digital version of gold but its volatility is higher than it. However, the concept of bitcoin is still comparable with Bitcoin. It could provide us with a promising value in time but it couldn't be as stable as gold. Just like gold, btc is a treasure that is worth keeping and its value is rising through years.

[barbara44]

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.?

Bitcoin is designed to serve as store of value in its technology,  although we are yet to achieve that because it still has volatility in it which makes it quite difficult to compete with the old ancient reliable physical gold,  so for now,  gold still remain the only metal that is qualified to be held as digital asset for store of value,  but our Goal is that in future,  bitcoin qualifies to be store of value,  maybe then,  we could accept the old gold as just physical gold while bitcoin serves as the digital gold,  but for now,  bitcoin cannot serve as digital gold until its volatility is over.

While we wait for its volatility to reduce and be qualified for digital gold, we have to just start investing in it now because by the time it turns to digital gold, the value would have been very high and would not be easy to purchase that time. Therefore, it is better we also hold bitcoin while we hold the normal gold too.

[haidil]

it's true that bitcoin is a digital gold version, as we know dinars and dirhams have been used since ancient times in arabia and the value is stable, unlike bitcoin the voices are higher but bitcoin is digital gold

[kryptqnick]

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.

This makes sense to me. If these coins are stable and we are to compare them with any digital currencies, we can talk about something like Tether. Bitcoin is extremely unstable not only compared to dinar and dirham but if we compare it with pretty much any commonly used fiat. And gold is a whole different thing. It's fairly stable nowadays, but it's actually largely considered an investment because gold's price tends to increase (and at some points in time increased significantly) over time. So it's neither like stable coins (although it's been stable lately), not like Bitcoin (which is too volatile).