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Author Topic: Bitcoin will replace oil and Gold  (Read 2201 times)
Polo7
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October 16, 2020, 12:45:32 AM
 #1

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!!

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bayu7adi
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October 16, 2020, 02:34:17 AM
 #2

No, Bitcoin will not replace oil and gold, even though we know that gold is no more flexible than Bitcoin. Currently the existence of Bitcoin is very small when compared to some resource businesses in the world. We can't force the will we like to be able to rule the world easily, it takes a long process, maybe even requires evolution first in Bitcoin to be able to completely replace oil and gold.

The scale of gold and oil production currently leaves Bitcoin because these natural resources are better known for a long time and ordinary people understand more about the resources that are mined by digging the ground. In addition, real results and also a large turnover have made big companies compete to get more natural resources with increasingly complex equipment.



https://medium.com/currency-waves/bitcoins-energy-consumption-7c14f53dd059

The electricity used by bitcoin miners is only 0.1% when compared to the electricity used by some natural resource miners.
Lorence.xD
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October 16, 2020, 03:01:10 AM
 #3

Will Bitcoin make my car run? Will bitcoin be used for astronaut helmet shields?

There is monetary value in bitcoin but that does not mean that it will replace these things, the prices will go up but that does not mean that oil and gold will devalue. Oil will have a place in economy, although the prices are plummeting for oil. Gold will always hold a value, it is used in electronic components and it has a lot of applications and not just as a monetary value.
Salauddin1994
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October 16, 2020, 03:16:20 AM
 #4

It is never possible for bitcoin to replace oil and gold because bitcoin is so predominant in the world of decentralized crypto with oil and gold linked to the country's economy it will depend on the country's government. If the system of import and export trade is far away the price of these will increase at present the value of these items has come down a lot due to the fact that the country's economy has been hit by the epidemic and inflation has risen these natural resources cannot be replaced by any organization.
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October 16, 2020, 07:08:58 AM
 #5

Gold and oil is more popular than bitcoin in the world. Gold and oil are centralized which is control by the government which it will be very hard for the government to allow bitcoin which is decentralized in the world to be replace gold and oil which is the oldest than bitcoin.
I guess it will be difficult for such to happen to gold and oil. Many investors are use to gold and oil for a long time which it will be very hard for them replace bitcoin with oil and gold.
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October 16, 2020, 07:13:55 AM
 #6

Gold and Oil as it stands today are mainly commodity. Bitcoin is digital money. So their functionality differs. Therefore you cannot categorically expect that Bitcoin will replace Oil and Gold.




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exstasie
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October 16, 2020, 07:24:34 AM
 #7

Let me know when they figure out how to make medical devices out of BTC. Or how to use BTC to make cargo jets and container ships run. Cheesy

Bitcoin is just an alternative form of money. It isn't a replacement for every established asset that came before it, especially energy commodities like oil. I also see Bitcoin and gold happily coexisting together as store of value assets.

The cure
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October 16, 2020, 07:28:42 AM
 #8

What you are saying is very impossible. yes bitcoin is becoming more and more popular today and its adoption in different parts of the world is spreading rapidly,especially in this time that covid 19 pandemic hit many businesses, and because cryptocurrency is not so much affected by it and it's demand increased even more. But still it will never be happen that bitcoin will replace gold and oil someday because they are totally different.
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October 16, 2020, 07:29:51 AM
 #9

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!!


What you are saying is very impossible. yes bitcoin is becoming more and more popular today and its adoption in different parts of the world is spreading rapidly,especially in this time that covid 19 pandemic hit many businesses, and because cryptocurrency is not so much affected by it and it's demand increased even more. But still it will never be happen that bitcoin will replace gold and oil someday because they are totally different.
Mauser
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October 16, 2020, 08:16:51 AM
 #10

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!!



I don't think bitcoins can replace an actual commodity so easily. In my mind bitcoin is more of a currency than a commodity. Because you cant use bitcoins to fuel your car and plane. Same for gold, as long as we are using gold for jewellery there will be people paying a lot of money for it.  These two commodities have been used by humans for a long time. They can't just disappear.

What is more likely that we will see bitcoins as the main international currency, so all these commodities would be quoted in bitcoins rather than USD.

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October 16, 2020, 09:38:53 AM
 #11

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!!

I don't think bitcoins can replace an actual commodity so easily. In my mind bitcoin is more of a currency than a commodity. Because you cant use bitcoins to fuel your car and plane. Same for gold, as long as we are using gold for jewellery there will be people paying a lot of money for it.  These two commodities have been used by humans for a long time. They can't just disappear.

What is more likely that we will see bitcoins as the main international currency, so all these commodities would be quoted in bitcoins rather than USD.
Commodities oil, gold, real money will not be replaced with bitcoin, bitcoin which is not necessarily a stable price in the future and could drop due to a group of people, therefore bitcoin is only an alternative and high-value asset.

The OP said that the government has established a relationship with the bak for the use of bitcoin. Is this any valid news? even as I know there are several countries that still block bitcoin as its use.

Oil is now a staple all over the world so it is irreplaceable for bitcoin to me this doesn't make sense.

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October 16, 2020, 09:48:38 AM
 #12

I don't think that bitcoin will replace oil and gold, there are important things that both things can do in our country, without oil, we can have any transportation in our country, we cannot start any vehicle, we cannot do export and import which is good for the economy. Bitcoin is really good and valuable for everyone but it doesn't mean that it can replace both things. It is only good as an alternative currency for fiat currency. We can love without BTC but we cannot live without oil at all.

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October 16, 2020, 09:48:48 AM
 #13

Will Bitcoin make my car run? Will bitcoin be used for astronaut helmet shields?

haha . you got a point bud but thats not what he mean to express  but he means that high valued people such as governments are said to drop oil on thier portfolio and replaced it with btc but isnt that a good thing ?

its not a big deal if they drop oil but oil will still be useful . when they drop it that means the price of oil will drop as well , thats even more amazing  . now we can now buy oil in a cheaper price but the btc value do sky rockets too at the same time  .
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October 16, 2020, 10:04:04 AM
 #14

You are all wrong. because, Bitcoin will not replace oil, gold or any other thing. All these markets are having own reactions and own benefits for people and depending on people interest and usually patient and risk level they can chose a market. Considering the gold huge demand and incensing demand over time, it has a very huge, old and more stable market and nothing and replace gold at lest not that soon. But, in the other hand, bitcoin is a high risk and unstable market and ideal for long term holders, bitcoin market is defiantly rising but this can't get more marketcap than oil and specially gold.

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October 16, 2020, 10:05:39 AM
Last edit: October 16, 2020, 12:31:42 PM by Kupid002
 #15

Gold and Oil as it stands today are mainly commodity. Bitcoin is digital money. So their functionality differs. Therefore you cannot categorically expect that Bitcoin will replace Oil and Gold.

Maybe he means in terms of investment government can decide by their own if they think that bitcoin can give them income for the next more years and will lost their investment in oil and gold they can move to other investment.
Its investment ,even individual persons or small investors do that and invest only to what they think is profitable for them. they are just securing thier money. if they know they will lose in other investment why would you continue supporting it?drop it and find other alternative that will be beneficial for you in long term.

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October 16, 2020, 10:08:44 AM
 #16

Gold and Oil as it stands today are mainly commodity. Bitcoin is digital money. So their functionality differs. Therefore you cannot categorically expect that Bitcoin will replace Oil and Gold.

Maybe he means in terms of investment government can decide by their own if they think that bitcoin can give them income for the next more years and will lost their investment in oil and gold they can move to other investment.
Its investment even individual persons or small investors do that and invest only to what they think is profitable for them. they are just securing thier money if they know they will lose in other investment why would you continue supporting drop it and find other alternative that will be beneficial for you in long term.



I mean yes this!!
You are correct
The btc will not become oil or gold.

It just will replace the oil and Gold position in Investment area
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October 16, 2020, 10:27:56 AM
 #17


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

What now its here you do say? Being optimistic isnt bad but to say up that Bitcoin would replace oil and gold? Its not really gonna happen
as long government do exist in time.You dont know on how these natural resources are valuable that cant really be easily
replaced by something digital like Bitcoin.It does have only a particular space but it isnt capable on taking the throne and do make oil
and gold be replaced.

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October 16, 2020, 11:26:54 AM
 #18

They are clearly different in every aspect and no resemblance. Anything that can replace the other is what are the same maybe in shape or size, function and operation but bitcoin, gold or oil are not same. In talking about oil, how can oil be in same thing with bitcoin to be replaced? Not possible I think so.

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October 16, 2020, 12:38:32 PM
 #19

snip..
I understand what you mean, here you explain that Bitcoin will shift the dominance of oil and gold prices as an investment.  I personally don't think so, why? because Bitcoin, oil, and gold already have their respective market enthusiasts.  you can not force me to buy Bitcoin if I like gold or oil and vice versa.  as the price grows and perhaps an interest in Bitcoin in the future world governments will inevitably make Bitcoin, gold, and oil an equal (a highly watched investment).  Bitcoin will become the equivalent of oil and gold instead of displacing both..

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October 16, 2020, 12:57:02 PM
 #20


I mean yes this!!
You are correct
The btc will not become oil or gold.

It just will replace the oil and Gold position in Investment area
I don't think that this is what will gonna happen,

Oil, gold and bitcoin have their own respective market and investors. Investors on those investments have their own opinion, decision, and choices when it comes to their investment. And most of the time, investors do prefer to secure their investment, the investment where they can really earn.

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AME TRADE HERE
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AME TRADE HERE
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