BITCOIN AS A DIGITAL GOLD

[charlie137]

Bitcoin is not the digital gold but there's literally a project that is a digital gold:

check this: https://bitcointalk.org/index.php?topic=5161544

I am looking to that project for a while and I think they are the best to give if someone is asking for digital gold. They are cryptocurrency that is backed by gold and the price is sync with the price of the gold itself.

Bitcoin can't be the digital gold since bitcoin is backed by nothing! Bitcoin is just existing because of the supply and demand and that's enough for bitcoin to be called as "cryptocurrency" 

backed by nothing?? oof thats a bought account right here

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[hajirkhalid2]

Bitcoin is a digital gold, yes it is really good thing for the positive side. It is world's first decentralized virtual currency nobody control them, this is a miracle in the electronic and human industry, demand is more and supply is less.

[carlisle1]

Bitcoin is a digital gold, yes it is really good thing for the positive side. It is world's first decentralized virtual currency nobody control them, this is a miracle in the electronic and human industry, demand is more and supply is less.

Bitcoin being Hoard by many Holders?yeah there is a possibility that this is being a Digital gold aside from the project mentioned above to be as a Digital
 Gold because that token is far different from Bitcoin.
and also by the demand from many people now and the main reason why Bitcoin value is continuing to grow so yeah Digital gold is indeed here.

Bitcoin as a replacement for gold is possible. But if you're talking about digital gold it's Xaut

what do you mean by Replacement for gold?Gold never need to be replaced because the mining of this precious stone is unlimited and the longer
the days goes by is the more the Gold is being mined not like the Bitcoin that has limited supply so the
 value will grow more in future.

[witcher_sense]

Bitcoin can't be the digital gold since bitcoin is backed by nothing! Bitcoin is just existing because of the supply and demand and that's enough for bitcoin to be called as "cryptocurrency"  

What is gold itself backed by? When you answer that question, you will grasp why bitcoin is very similar to gold and why it is backed by "something". I myself don't like comparasions like bitcoin vs gold,  though. In my opinion, it's just an attempt to explain the new technology in old terms. A car isn't just a horse running on gasoline.  The same is true for bitcoin. Bitcoin is not a gold running on blockchain. However, like I said before, they are very similar like cars and horses - both serve the same purpose - to transfer something, to transfer value. They are both scarce, they have high stock-to-flow ratio. It is not possible to highly increase supply of gold and bitcoin in response of demand - mining is very difficult and expensive in both cases.

[MCobian]

Many people argue that bitcoin is digital gold not without reason. Bitcoin and gold do have a lot in common, among other things
a limited amount, obtained by mining, and is a safe haven. But I have a different opinion, in my opinion even though there are
many similarities between bitcoin and gold they are still different. So don't compare bitcoin and gold, regarding the movement of
gold and bitcoin that tends to be the same is just a coincidence. Because either bitcoin or gold still has difference, and therefore
for me bitcoin is not digital gold.

[slackovic]

Bitcoin as a replacement for gold is possible. But if you're talking about digital gold it's Xaut

what do you mean by Replacement for gold?Gold never need to be replaced because the mining of this precious stone is unlimited and the longer
the days goes by is the more the Gold is being mined not like the Bitcoin that has limited supply so the
 value will grow more in future.

Wait, did you just say that the supply of gold is unlimited? Are you serious? Why would it's price be so high if the supply is unlimited? Besides, nothing on the planet Earth is unlimited. We can agree that some elements are more rare than others but none has unlimited supply.

As for Bitcoin being digital gold, I guess that time will tell if that's true or not. For now it seems that it can be digital gold because of it's limited supply and high demand which drives the price up.

[charlie137]

Bitcoin is a digital gold, yes it is really good thing for the positive side. It is world's first decentralized virtual currency nobody control them, this is a miracle in the electronic and human industry, demand is more and supply is less.

technically its not, since theres no way you can increase the reserve of gold. bitcoin tho allows removing the cap if consensus is reached

i am not mentioning that gold is also has unlimited cap - its timing is on way different range than 10 minutes

[leway.ph]

Bitcoin cannot replace the value of gold since.
Gold continue to increase its value every now while bitcoin depends on the demand of its users/ investors.

But to think that gold has unlimited supply - it is a big NO because why that the price of gold increases if it has unlimited supply? Come to think the law of demand and supply and your will realize.

~

But some people appreciate the value of bitcoin as gold - we can not deny that, it's their own perspective.

[415jeremy]

I thought that calling Bitcoin the digital gold was referred to its limited supply, and this metaphor was popular long time before 2019/2020. 

[charlie137]

Bitcoin cannot replace the value of gold since.
Gold continue to increase its value every now while bitcoin depends on the demand of its users/ investors.

But to think that gold has unlimited supply - it is a big NO because why that the price of gold increases if it has unlimited supply? Come to think the law of demand and supply and your will realize.

~

But some people appreciate the value of bitcoin as gold - we can not deny that, it's their own perspective.

because:

Code:

Gold is thought to have been produced in supernova nucleosynthesis, and from the collision of neutron stars,[47] and to have been present in the dust from which the Solar System formed.[

https://en.wikipedia.org/wiki/Gold#Origin

[nicecrypto]

In terms of changes it can be compared to any rare materials however would you consider gold as an investment? And there is no such thing as an investment that is too much of an trust dependent where when there's more people to invest there would be higher value. The price is frequently being driven by demand which is almost same to any product, in contradiction bitcoin loses its high value the moment a crowd started to forcibly let go of their holdings for the reason of bitcoin is more flexible in terms of transfer.

Yes I do consider gold as a great investment, I don't know about you, but where I come from gold is a major source of investment, in short an average woman here has gold otherwise you won't fit among your peers,
If women should buy btc the way they buy gold, I believe the price of btc will see a price hike, this is from experience, women in my country invest alot on gold, it is their way of preserving their money.

[cabron]

Its more than digital gold. Bitcoin also introduces technology to the community that opens more gems to the world. There are tons of these gems already which right now we have also invested to them. People are rushing to buy digital currencies which is why some reports says "digital gold rush". Cryptocurrencies may not be for the common individuals right now but it will be in the coming years.

[verita1]

I agree BTCitcoin surpasses digital gold because it is allowing the development of technology and the growth of digital assets. And it's just the beginning thanks to the support of the community. Banking will have to reinvent itself to be able to meet all the world's demand when people prefer 100% Bitcoin and cryptocurrencies.

[pixie85]

Bitcoin is a digital gold, yes it is really good thing for the positive side. It is world's first decentralized virtual currency nobody control them, this is a miracle in the electronic and human industry, demand is more and supply is less.

technically its not, since theres no way you can increase the reserve of gold. bitcoin tho allows removing the cap if consensus is reached

i am not mentioning that gold is also has unlimited cap - its timing is on way different range than 10 minutes

But you don't know what the cap is with gold. It can be just 1x what we have in circulation or 10x that.

We can maybe forsee how much of it is burried beneath but we don't know what we'll be able to mine and how much of it is beyond our reach.

Bitcoin can technically go beyond 21 million but gold can also go beyond what is expected to be mined now if a new and more efficient way of mining is found.

[nancy]

Bitcoin can be used as useful and fast payment method and whats why you decided to name it digital gold?

[$crypto$]

Bitcoin is not the digital gold but there's literally a project that is a digital gold:

check this: https://bitcointalk.org/index.php?topic=5161544

I am looking to that project for a while and I think they are the best to give if someone is asking for digital gold. They are cryptocurrency that is backed by gold and the price is sync with the price of the gold itself.

Bitcoin can't be the digital gold since bitcoin is backed by nothing! Bitcoin is just existing because of the supply and demand and that's enough for bitcoin to be called as "cryptocurrency" 

It is only the supply and demand of bitcoin to be fully integrated because it will be a high price if demand rises so whatever support is not there but bitcoin will become a digital currency with high adoption in the future.

But with the digital gold you mentioned, it is already supported with physical gold, so the price will follow the current world gold and I am sure this will be the first digital gold in cryptocurrency that has ever been successful so far.

[JohnBitCo]

Bitcoin is not the digital gold but there's literally a project that is a digital gold:

check this: https://bitcointalk.org/index.php?topic=5161544

I am looking to that project for a while and I think they are the best to give if someone is asking for digital gold. They are cryptocurrency that is backed by gold and the price is sync with the price of the gold itself.

Bitcoin can't be the digital gold since bitcoin is backed by nothing! Bitcoin is just existing because of the supply and demand and that's enough for bitcoin to be called as "cryptocurrency"  

To be very simple, Bitcoin is a digital currency and not a digital gold.
Most people treat it as a assets but it should be more frequently used as a currency. We should use bitcoins as our payment methods.

[FatFork]

To be very simple, Bitcoin is a digital currency and not a digital gold.
Most people treat it as a assets but it should be more frequently used as a currency. We should use bitcoins as our payment methods.

It seems to me that Bitcoin has ceased to be a digital currency for a long time. There are much cheaper and faster methods (currencies) so most of today’s value of Bitcoin comes from speculative trading as a security asset.

[coolcoinz]

To be very simple, Bitcoin is a digital currency and not a digital gold.
Most people treat it as a assets but it should be more frequently used as a currency. We should use bitcoins as our payment methods.

It seems to me that Bitcoin has ceased to be a digital currency for a long time. There are much cheaper and faster methods (currencies) so most of today’s value of Bitcoin comes from speculative trading as a security asset.

It was meant to be a payment system but in reality that's what all those things built on top of it will be. Bitcoin is too valuable to be something that you use to buy a pack odf cigs or a hot dog. It's secure enough to be used for million dollar transfers around the world and safe enough to be used as a store of value. Personally, I like the digital gold label. It fits BTC well.

[PANK21]

Bitcoin is referred to as a digital GOLD because of its value. But for me, bitcoin is a digital currency. We used bitcoin to promote the fastest way or method of transaction as possible. Besides, bitcoin has surpassed the value of digital gold either or it is an asset that can be used as an online payment transaction these days. Technically speaking,we cannot know the cap of gold so we can't really compare it to bitcoin.