Bitcoin will replace oil and Gold

[BlackHatCoiner]

You're confusing intrinsic value with monetary value. Oil and gold have an intrinsic value, which means that they are useful without having to compare them with other commodities. Oil for example is something necessary for the world, I don't care about its monetary value. It had reached really high in the past and in 2020 it made huge dumps.

Bitcoin has no intrinsic value. The agreement of its users is what gives its monetary value.

[xzone]

So do you not think it's too late to invest in crypto? And if not, what digital currency would you recommend for a newbie investor? Thank you for your help.

It's not too late to invest. We just starting yet bitcoin will be the most valuable thing for years to come.
First of all, you should read this forum. There is too many good posts about cryptocurrencies and investing. Don't make investment before read them.
You can buy some ethereum, bitcoin or something like that. Use binance to start, very easy to use. You will learn everything in a month

[Lorence.xD]

It's not too late to invest. We just starting yet bitcoin will be the most valuable thing for years to come.
First of all, you should read this forum. There is too many good posts about cryptocurrencies and investing. Don't make investment before read them.
You can buy some ethereum, bitcoin or something like that. Use binance to start, very easy to use. You will learn everything in a month

There is no too late for bitcoin investment because the price today might not be the price for tomorrow for the better. This forum is a good place to learn about bitcoin but you have to be careful because scams are not regulated in this place and any scammer wants someone that doesn't have that much knowledge about bitcoin to become their victim. I wouldn't recommend a month, take your time to learn a lot, go for a slow pace to sift through the BS and the truth because there are a lot of that here so I suggest to take it slow.

[geegaw]

Was supposed to say the same thing and this had been an argument or discussion ever since about replacing this, replacing that without even trying to check or look
on what are their true usage or benefits in the first place.Why would really be needing that on replacing each other? They do have indeed their own purpose
and just literally trying to differentiate when it comes to form and characteristics then its just too obvious that there no point on making out some comparison
or some sort of competition.

All these conversations take place only within the framework of discussions on the topic, and what would happen if something happened and has not even close to any relation to the harsh reality Gold has a multi-thousand-year history of circulation in the financial sphere and it is extremely naive to assume that some other object or concept will replace it in the near future. You can still somehow talk about parallel use, but it is about replacing gold with something that is out of the question.

Indeed, this discussion carries too many impractical and unnecessary points when bitcoin has its own characteristics, thereby creating its value, gold and oil are not an exception, usefulness in life has helped both objects maintain and exist with a very long history, the more important thing is that gold and oil are a real product, bitcoin is a virtual product, the substitution and association between these two objects is almost zero. So the two will be used from now on, even in the distant future and without the harsh relationship and competition between each other.

[TinaK]

It's not too late to invest. We just starting yet bitcoin will be the most valuable thing for years to come.
First of all, you should read this forum. There is too many good posts about cryptocurrencies and investing. Don't make investment before read them.
You can buy some ethereum, bitcoin or something like that. Use binance to start, very easy to use. You will learn everything in a month

There is no too late for bitcoin investment because the price today might not be the price for tomorrow for the better. This forum is a good place to learn about bitcoin but you have to be careful because scams are not regulated in this place and any scammer wants someone that doesn't have that much knowledge about bitcoin to become their victim. I wouldn't recommend a month, take your time to learn a lot, go for a slow pace to sift through the BS and the truth because there are a lot of that here so I suggest to take it slow.

Bitcoin will pump and dump at anytime so we can invest in current situation we see good growth of upcoming market. But oil and gold will more durable in asset of huge hunters, so big investors are already hold the gold and oil it is more convenient to maintain for long term. In reality most are expect short term profit, so we can concentrate Bitcoin and altcoin in this month it make rapid growth of further days and keep monitoring the market is must for all the hunters.

[whyrqa]

Was supposed to say the same thing and this had been an argument or discussion ever since about replacing this, replacing that without even trying to check or look
on what are their true usage or benefits in the first place.Why would really be needing that on replacing each other? They do have indeed their own purpose
and just literally trying to differentiate when it comes to form and characteristics then its just too obvious that there no point on making out some comparison
or some sort of competition.

All these conversations take place only within the framework of discussions on the topic, and what would happen if something happened and has not even close to any relation to the harsh reality Gold has a multi-thousand-year history of circulation in the financial sphere and it is extremely naive to assume that some other object or concept will replace it in the near future. You can still somehow talk about parallel use, but it is about replacing gold with something that is out of the question.

Indeed, this discussion carries too many impractical and unnecessary points when bitcoin has its own characteristics, thereby creating its value, gold and oil are not an exception, usefulness in life has helped both objects maintain and exist with a very long history, the more important thing is that gold and oil are a real product, bitcoin is a virtual product, the substitution and association between these two objects is almost zero. So the two will be used from now on, even in the distant future and without the harsh relationship and competition between each other.

You are now really very correct about the comparison in the specific context of bitcoin, gold and oil. I believe that the time is not far away when food products and other raw materials, which are important for human life, will be placed on the same level with these valuable assets.

[FlightyPouch]

Bitcoin will never replace oil and Gold even a decade or how many years may come. Gold will be gold and oil will be oil, nothing can replace these two. It is like a fiat currency that will not be replaced by bitcoin and it is a matter of fact. Although we all know that bitcoin is way more flexible than gold but at the end of the day gold will be the one that will be the basis of every money, and never bitcoin will be in front of it.

There are a lot of debates and statements about this. That bitcoin could replace gold when it comes to reserves and such but right now, that won't happen. But I do agree that bitcoin will never replace gold, oil, or even the fiat currencies that we are using right now. Bitcoin will stay as it is and will be the most and used crypto in the future.

[randegibran]

Very lol, how come you can live without oil how ever almost you use right now need oil like your car, your motorcycle and many thing do you use have to need oil, you can't said with bitcoin will replace oil. Many people claimed as bitcoin is the king and I know bitcoin have higher but can't change the function with oil or gold, just bitcoin as investment assets and not be legal currency payment transaction right now because many countries not allow using bitcoin.

[Koadharber]

Ideally, what you are talking about is impossible mate. Bitcoin, Gold and Oil are not the same at all and should not be differentiate with each other! Oil was there ever since we discover machines. It is the main medium & reason why it works and definitely Bitcoin could not replace that. Gold in the other hand can be differentiate with Bitcoin in a lot of ways though do not forget that Gold has a very high market capitalization. Bitcoin, was there for just more than a decade yet it already exploded its name in the whole financial industry. That's what it is. Why? We are now in the digital age and Bitcoin is the closest one to use for our major developments especially in our daily financial transactions. Though Bitcoin has still its lapses, we can still consider the whole cryptocurrency ecosystem and look for alternative ones.

[Nunoluck]

Even if it's about investment then I don't think that it can be happen in short time. Since oil is used by many industries and in our daily life then it still need a long time to see that happen, although many people start to use electric car. Gold will always valuable, although it's fluctuations price is more stable than bitcoin but it is one of the safest investment that exist. Gold holders are tend to gain profit rather than loss. Bitcoin is so volatile but this attracts investors to get involved in bitcoin market so they can get the chance to gain big profit in short term.

[angrynerd88]

I think No, Bitcoin will not supplant oil and gold, indeed in spite of the fact that we know that gold is no more adaptable than Bitcoin. As of now the presence of Bitcoin is exceptionally little when compared to a few asset businesses within the world. We can't drive the will we like to be able to run the show the world effortlessly, it takes a long prepare, perhaps indeed requires advancement to begin within Bitcoin to be able to totally supplant oil and gold. Nature of gold and oil generation right now clears out Bitcoin since these normal assets are way better known for a long time and standard individuals get it more almost the assets that are mined by burrowing the ground,Bitcoin can be exchange of medium to get gold and oil but can’t replace due to its differ of nature.

[Pasnik]

Bitcoin is different to oil and gold they have different ways how to earn and how to used it. bitcoin is decentralized that we can use to transfer our money peer to peer. Unlike gold and oil that can manipulate of government, people. Bitcoin and oil will change the value depend to the market .Gold is have great value than this two we know that. But bitcoin is great than oil and gold because we used it online as we know that the technology now is upgrading.

[randegibran]

Many traditional investor keep believe with gold and they not understand how bitcoin will increase their money as investment, so far gold keep become as investment way exactly for old investor make gold as good commudity investment assets, but bitcoin as digital without have any proof some one have bitcoin depend with traditional investor.

[Alex3590]

I think bitcoin at the moment does not have any foundation, the only use is speculation, so such products as oil, gold, etc.will not soon replace it. Only by capitalization. And then, again, at the expense of "whales" that have an impact on the market.

[salty]

Oil is done so They replace bitcoin instead of oil.

I still use gasoline for my car instead of bitcoin. It seems to me that you are overestimating the situation.

[bitzizzix]

All commodities cannot be replaced with bitcoin because it existed before bitcoin existed in the world, bitcoin is just digital money as an alternative, and does not mean it can replace all commodities easily.
Very often bitcoin is associated with gold or something that can replace gold or something else, all of this often happens when the price of bitcoin goes up high and is always associated with what existed long before bitcoin existed.

[Ozero]

Governments all around the World Secretly start using together with banks the bitcoins.
Oil is done so They replace bitcoin instead of oil.

The btc volatility might go like daily 50k-100k price Changes.

Bitcoin will be instutionalized permanently.
The Global market prices Liqutation postion will be fluctuated by Bitcoin price.


I said this before but nobody didnt listen but now its here!!

No, none of this will happen. Bitcoin cannot replace the material objects of our world for us. These are numbers and signs, nothing more. How can bitcoin replace oil in general? They will do everything with bitcoin
what is made of oil? Can't Bitcoin replace bread and other food then?
  Also, the claim that governments are secretly buying bitcoins is nothing more than fantasy. States and their governments do not need bitcoins. In any case, I have not come across such information.

[Bitcoinsummoner]

Oil and Gold both are various things to use. Oil gets replaced by how people will drive their cars and bike.
Discussion about Gold, which is more famous than bitcoin, is unimaginable for bitcoin to supplant it. Gold more adaptable, and individuals favor it.
The government is behind the Gold and oil, and they'll never wish to supplant it anything.

I agree with you but oil and gas is not limited we are getting more and more oil and gas in many places. But Bitcoin will not be re-produced after a time. But the user of bitcoin is increasing day by day. And I think comparatively user of bitcoin is increasing more than gold and oil day by day. Yet use of these 3 things are separate way so there will not be any chance to be replaced.

[ampere]

Governments all around the World Secretly start using together with banks the bitcoins.
Oil is done so They replace bitcoin instead of oil.

The btc volatility might go like daily 50k-100k price Changes.

Bitcoin will be instutionalized permanently.
The Global market prices Liqutation postion will be fluctuated by Bitcoin price.


I said this before but nobody didnt listen but now its here!!

Bitcoin will no replace anything, not fiat, not oil and not gold. Bitcoin will be there to serve as another option or alternative means by which people can exchange money, or pay for goods and services. Bitcoin will co-exist with existing financial markets to further bring ease to all economic and financial transactions

[Oshosondy]

How can bitcoin replace oil, is that possible? It is not possible. Oil are used by companies to runs powerful power engines, it is used by automobiles, aircraft and many of such. As of today's world, oil is very necessary. But what can happen is the fact that there can be a time when the world will move away from oil to hydrogen powered engines and other non-oil products, this will be a big fall for oil and oil producing countries.

Bitcoin has been what people are now using to compare gold, gold is still the strongest for now, but as people are moving digital, very possible in some decades now, bitcoin may dominate. There is no much value in gold than people are demanding for it which makes its price to increase as a result of scarcity. If people are later going digital may result to gold marketcap not increasing the way it suppose to be. Also, we can not just make conclusion, we do not know yet what the nearest future (like 50 years time) will bring up.