Bitcoin will replace oil and Gold

[samcrypto]

Bitcoin will remain as a cryptocurrency and it can’t replace oil and gold because those are a different assets where investors can also hold. Oil is very important and there’s no replacement for this one yet despite of the growing technology, and gold exist for many decades now and it will not fade away easily. If bitcoin reach that price, I’m sure Oil and Gold is still in the market, they have to.

[CarnagexD]

Bitcoin will remain as a cryptocurrency and it can’t replace oil and gold because those are a different assets where investors can also hold. Oil is very important and there’s no replacement for this one yet despite of the growing technology, and gold exist for many decades now and it will not fade away easily. If bitcoin reach that price, I’m sure Oil and Gold is still in the market, they have to.

He meant it by relevance, not necessarily replacing gold and oil literally because those things are arbitrarily different from one another. In the coming days, bitcoin may essentially replace both commodities especially now that the world is slowly turning away from environment-harming activities which both gold and oil partake in, this will be the best period for bitcoin to shine among investors.

[ultrloa]

Bitcoin will remain as a cryptocurrency and it can’t replace oil and gold because those are a different assets where investors can also hold. Oil is very important and there’s no replacement for this one yet despite of the growing technology, and gold exist for many decades now and it will not fade away easily. If bitcoin reach that price, I’m sure Oil and Gold is still in the market, they have to.

I have the same though since imagine how could this thing happen? Those 2 are major commodity and it will not easily eliminated in the scene and also they are both so valuable. Maybe OP is taking to much thinking about Bitcoin and imagining those impossible things to be happen.

But one thing is for sure their Bitcoin will be added on the option and will compete on the trades with other listed.

[Yatsan]

Why is people always come into thinking that the existence of Bitcoin can replace the already existent things in the present and turning them into phase out when in reality both can still be existent without replacing anything. The wrong mentality of the people is that the existence of the latest technology makes it a point for the replacement of the old existing things and turn them into an innovative one on which not all are replaceable just like gold and oil that have their own unique usages and Bitcoin cannot accommodate such usage alone. Oil and gold have existed a long time ago and people are already familiar on using it, making it a point that Bitcoin cannot replace those.

[Johnyz]

Bitcoin is overhyped, it can’t replace those major commodity as easy as we think. Bitcoin can’t be use to run a building, a car or anything aside from Oil in the market and this is the reason why Bitcoin will remain bitcoin. As per gold, we don’t know how much supply of gold that we have in the market and in the underworld, its existence began since then and yet there’s more supply coming, it will remain as a valued asset and Bitcoin will become best digitally.

[JeffBrad12]

It sounds very weird for me. The gold and oil have been getting its value caused by the demand and both have needed by a lot of people. bitcoin has its own usefulness and there's no chance for bitcoin to touch the oil or gold.

You should know if anything has its own purpose. It will be more suitable if you were saying bitcoin will replace the fiat money to be a secondary payment system.
Im losing my mind if bitcoin will be replacing oil and gold.

That's something that totally nonsense.

[erikoy]

non sense, how could it possible to replace oil with bitcoin? Oil come from the natural resources and bitcoin comes from nothing if this bitcoin has not been back up by gold or fiat currency then it could have no value at all.

You see you can't get bitcoin without buying it using fiat unless you know how to decrypt bitcoin and that will lead you to open some or get some by cracking it or decrypting it.

[24Kt]

non sense, how could it possible to replace oil with bitcoin? Oil come from the natural resources and bitcoin comes from nothing if this bitcoin has not been back up by gold or fiat currency then it could have no value at all.

You see you can't get bitcoin without buying it using fiat unless you know how to decrypt bitcoin and that will lead you to open some or get some by cracking it or decrypting it.

Most of the OP's posts actually don't make sense. Sometimes he criticizes bitcoin, and now this, he is pro-btc. But just to answer his post, bitcoin is no way gonna replace oil or gold. Those are tangible assets that you can't just pull out of nowhere.

[jaysabi]

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 understand the bitcoin/gold comparison, but what are you trying to say about oil? Oil isn't an asset anyone uses to store wealth or value. Oil is a critical part of the world economy, it's used just about as fast as it is produced and there isn't a lot of infrastructure for storing oil long term when it's not needed to be used, which is why the world's oil producers constantly tweak production to match consumption. The comparison with bitcoin doesn't make any sense at all.

[ampu]

Gold and oil are the two dominant assets in the reserves of nations and banks. The world is shifting economic structure and keeping an eye on bitcoin. Bitcoin is new to investors, they look clean and not pumped. Maybe bitcoin will be the next pump.
Gold and oil have their own use-value and cannot be compared to bitcoin. I agree that in the future there may be more money flowing into bitcoin but not in the place of oil and gold.

[rollingdice]

No, Bitcoin won't replace gold and oil because both substances have a lot of use cases in many spheres of life. Bitcoin is just a virtual currency, it doesn't have any physical implementation. 

[finaleshot2016]

I don't think it's possible for bitcoin to replace these mainstream assets which are oil and gold. Many crypto users are having thoughts of bitcoin as a safe-haven asset which is because it's the new-gen assets we can invest right now instead of the traditional assets.

They are treating bitcoin as the digital gold of this era since they are capable of trading worldwide. Well, technically, bitcoin's price value can overly take or replace gold since many investors will choose its price potential in the market.

[iv4n]

No, Bitcoin won't replace gold and oil because both substances have a lot of use cases in many spheres of life. Bitcoin is just a virtual currency, it doesn't have any physical implementation. 

Logical! Bitcoin can't replace gold, or oil... we can't wear bitcoin around the neck, or drive a car on bitcoin. Bitcoin as virtual asset can be used as currency (medium of exchange)! I like to think about crypto as evolution, like the next level  on many fields, especially in the economical way! Current system is corrupted in the bones, we need changes and crypto can make those changes! You can compare btc (or some other coins/tokens) with anything else just in terms of value, and in that sense bitcoin is already more valuable than most raw materials and products that comes from raw materials!

[Shasha80]

I doubt Bitcoin can replace oil and gold, because both have been used for thousands of years. Indeed, for now investing in Bitcoin is
more profitable than investing in oil and gold, but because Bitcoin cannot be controlled by the government. So the government definitely
prefers oil and gold over Bitcoin. I think Bitcoin will probably only be used as an investment alternative, after all, Bitcoin's popularity is
still below oil and gold. There are still many people who don't understand Bitcoin, so it's too early to mention Bitcoin will replace oil and gold.

[DeadCoin]

Actually, there is nothing wrong with this if in the middle of both situation has changed, because in history gold and oil is older than bitcoin but,  eventually, if there is a good combination in between I think its a good idea , but to the right place there's no one can break the goal of Bitcoin even in a long period I think it is fully protected, usually, you can buy oil and gold by using Bitcoin but to replace it is impossible.

[SquallLeonhart]

You may think that gold and oil has a lot of use cases but the reality is they are getting more scarce and people are looking to remove them from the use cases and try to make them less relevant. For example oil is used for cars right? Probably used the most there?

Well, we are moving towards electric cars, instead of drilling for oil, we are getting wind turbines and solar panels and so forth to make it as well, renewable energy means you do not spend it and its gone, it means winds will always be there, and even though energy needs to be created from something, we do not need to replace the sun or the winds, they are natural so it will work forever. Hence oil will be replaced one day or another. Gold on the other hand has such a limited supply in reality that, the more you use it, the less there is so its replaced by many things already.

The reason why bitcoin will replace gold and oil is not because bitcoin will be demanded more, it would be because gold and oil will be demanded less.

[Majharul Saiif]

You are all wrong. because, Bitcoin will not replace oil, gold, or any other thing. All these markets are having their reactions and own benefits for people and depending on people's interests and usually patient and risk level they can choose 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 replaces gold at least not that soon. But, on the other hand, bitcoin is high risk and unstable market and ideal for long-term holders, the bitcoin market is defiantly rising but this can't get more market cap than oil and especially gold.

It is widespread Bitcoin will not replace its position with anyone. Elegant in one's position, no one appears to seize someone's position. Gold is a very ancient myth of ours and also is oil. And Bitcoin is a cryptocurrency that is not sluggish. Their characteristics are also incompatible, so their posture is also greatly elevated from different positions.

[Dragonfund]

Hey buddy, I like bitcoin, every idea and concept associated with it as a store of value but don't think bitcoin will replace Gold and Oil for now, it's not feasible perhaps in the future. The centralized Bodies/Government are watching bitcoin growth and every adoption, they know what they are doing and by the time it's no longer favourable for them, they threatened and use media to trash it value.
You must have seen how Bitcoin was so attached to  Gold and Dow Jones during the pandemic market sell, it was indeed a disaster because most investors in stock market, hold Bitcoin as well, a plunge in other market always has effect on Bitcoin.

[reliable]

No, Bitcoin won't replace gold and oil because both substances have a lot of use cases in many spheres of life. Bitcoin is just a virtual currency, it doesn't have any physical implementation. 

It may not exactly replace them but as an investment those who used to buy gold may either have started to buy bitcoin or may think of buying it . In terms of returns or the use which bitcoin has is also needs to be considered and those who find it useful will shift their focus to bitcoin for sure. This may lead to some less demand for gold as compared in previous year.

[sheenshane]

No, Bitcoin won't replace gold and oil because both substances have a lot of use cases in many spheres of life. Bitcoin is just a virtual currency, it doesn't have any physical implementation. 

It may not exactly replace them but as an investment those who used to buy gold may either have started to buy bitcoin or may think of buying it . In terms of returns or the use which bitcoin has is also needs to be considered and those who find it useful will shift their focus to bitcoin for sure. This may lead to some less demand for gold as compared in previous year.

We can't completely compared them because the had different usage that gives reason to investors invest.

Probably in making an assumption for Bitcoin replacing oil and gold is not a good thing. IMO, Bitcoin may dominate the two stocks (gold and crude oil) but it will never replace them, US only decided to go electric because they want to cover themselves from being the consumer of oils. This will then give them power and much stronger economy. Electrics will then become a source of economy. They will be monetizing it the way we didn't expect and will tell us that they only stopped consuming oil because of nature.

As you can see on these links, they had both different (Bitcoin, Gold and Crude Oil)
https://tradingeconomics.com/commodity/gold
https://tradingeconomics.com/commodity/crude-oil
https://coinmarketcap.com/currencies/bitcoin/