Bitcoin will replace oil and Gold

[ghost424]

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!!

If you are so sure that Bitcoin will replace Oil and Gold, have you tried using it physically? Are you willing to place Bitcoin to power up your automobiles or engines that works? Or using Bitcoin as an accessory?

Bitcoin's value is really wonderful but replacing things in the physical world is not possible. I only think Bitcoin will achieve some value cap which will be its best value and people will realize how important Bitcoin is once its recognize by governments in a good way.

[mezzaluna]

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.

That is true and Bitcoin replacing Oil's value is quite possible BUT that can only happen if people will not rely on harnessing the power that Oil can produce. Oil is almost necessary within most power systems. If people can utilize Nuclear energy, there will be no need for Oil. Gold on the other hand is one of the most unique element because of its utilization and I guess Gold has been utilized to its maximum. Bitcoin can always surpass them and all we need to do is wait.

[kapalmabur]

Oil and gold cannot be replaced, because they are real, and very useful in life,
whereas Bitcoin is an intangible asset, for now, we don't know how bitcoin is used in the future,
whether as a means of payment or just as an asset. and remember, OIL and Gold are not something that can be easily for replaced,

[Nhor1011]

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.

That's why it's impossible for bitcoin to replace other things like oil and gold because of it's decentralization. Do you think government will allow bitcoin to replace gold? How can a car run without gas and oil? What I mean is everyone of them have an special rule in our economy despite of their value. Also they have different features and uses , So  Bitcoin will not replace any other thing ,...if ever it will be a very long process.

[Kong Hey Pakboy]

I don't think bitcoin would replace everything, not even oil, gold, and other precious metals, because no one controls bitcoin due to decentralization. Unlike oil and gold, it is authorized by the government based on its currency. Oil and gold have a different purpose and uses, so it's unlikely for bitcoin to run a car and conduct electricity and make jewelry. Still, bitcoin might surpass gold and oil as an investment and a safe asset.

[JuSayCo]

Nobody listens or no one will ever believe this statement even me. Bitcoin is too far behind Oil and Gold, mate.  This will never happen that it could replace this two stable commodities across the globe. Despite Bitcoin's popularity and being the largest cryptocurrency in the market, it can't still replace nor beat the stable value of Oil and Gold which is existing many decades ago until now. Bitcoin gives us too many different great features and profits but we can't deny the fact that it is decentralized unlike Oil and Gold which is tangible and proven stable in our lives since then.

[GeorgeJohn]

Nobody listens or no one will ever believe this statement even me. Bitcoin is too far behind Oil and Gold, mate.  This will never happen that it could replace this two stable commodities across the globe. Despite Bitcoin's popularity and being the largest cryptocurrency in the market, it can't still replace nor beat the stable value of Oil and Gold which is existing many decades ago until now. Bitcoin gives us too many different great features and profits but we can't deny the fact that it is decentralized unlike Oil and Gold which is tangible and proven stable in our lives since then.

The possibility is not in doubts because bitcoin has already trying to dominates all over the countries, the ambitions of op is quite clear that bitcoin can take cover of oil and Gold across the world, because the rate of people adventuring into cryptocurrencies especially bitcoin and other coin's in the name of trading is in higher frequency, so from my perspective its not something that bitcoin can actualised these year but it will take space within a period of time. Because looking at present things that's happens in cryto world people purchase and invest in Btc more than any other thing.

[Awraawra]

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 think bitcoin cannot replace oil and gold those companies are very big compare to bitcoin. Oil are using everyday and gold used it everytime people they want so why we need to compare bitcoin to gold and oil. Maybe there are popular but not the same and bitcoin never replace that two.

[henmark]

No there, I don’t see it that there is going to be any replacement, although as the world keeps growing there are some changes that has been happening and a lot of things that are being powered by oil are now becoming electrical and less and less things now have to rely on the oil. Things are basically changing, and a similar situation for gold.

But, that doesn’t really mean that investments will now be going into Bitcoin just because of this, but a small percentage of their money will. It’s just like the company that invested 1 percent of its total assets in Bitcoin which is around $50 million or so. They will be investing in Bitcoin, they are having interest, but there are also other investments they will be going for.

[jacafbiz]

Oil and Gold has come to stay and Bitcoin is not here to replace them but to complement them. All these commodities have different purpose which they serve in the world economy, Oil in particular is what drives wealth across the world, most Bitcoin whales do not want to part with it and I don't see how Bitcoin can serve that role, Bitcoin selling point is store of value which to me is a good selling point and will help it a lot unlike all these useless Altcoins that promises to change the world

[yhiaali3]

I don't think what you say can happen, Bitcoin can replace the dollar but it is not able to replace gold or oil, although I am a bitcoin fan but that is illogical Bitcoin is unstable and cannot get the same confidence as people in gold. As for exchanging bitcoin for oil, this is really strange! I don't know how to exchange bitcoin for oil? Oil is an essential element in moving the wheel of the global economy and cannot be dispensed with at the present time. But if you mean to exchange Bitcoin for oil, this is something that happens in some countries that suffer from embargoes, but it cannot be generalized.

[Dragonfund]

The possibility is not in doubts because bitcoin has already trying to dominates all over the countries, the ambitions of op is quite clear that bitcoin can take cover of oil and Gold across the world, because the rate of people adventuring into cryptocurrencies especially bitcoin and other coin's in the name of trading is in higher frequency, so from my perspective its not something that bitcoin can actualised these year but it will take space within a period of time. Because looking at present things that's happens in cryto world people purchase and invest in Btc more than any other thing.

Bitcoin adoption is growing so fast that we aren't even realizing it but not the way op stated. We are having huge adoption from institutional investors rapidly, if we could recall how millions of tether were printed the day bitcoin fell to.$3.7k, it was pump back to 4k-5k range, they should be in 4x of their investment.
Coming back to Gold and oil, Its not feasible to make such comparism with Bitcoin. There are so many factors that will oppose bitcoin use for daily spending, volatility is a major problem for all and would make utilization difficult. Gold and oil were affected by this Corona pandemic which caused lots of havoc but only with regulatory we can utilize oil and Gold.
Let's make example,

Day 1, bitcoin cost 10k and a liter of oil will cost 0.001btc
Day 2, bitcoin cost 12k, what will should happen to oil price, will the value remain or hanged?
These are the big factors and I believe government will not sit and watch. I love Bitcoin as store of value and cryptocurrency in general than any other assets though.


This chart shows Bitcoin and macro assets Return this year and their volatility, this shows bitcoin can never be oil and oil can never be bitcoin. They may be correlated due to some economic factors and big players in price manipulation.

[Rengga Jati]

This is likely what said as "Bitcoin will replace fiat".
In my personal opinion, it will never happen.
Bitcoin will exist and will have much bigger involvement and also its power in this world. But, it really doesn't mean that BTC will replace gold and also oil. They may be influencing as per financial systems. But, they are real things and they are needed in this world. They are the same, limited. But here what makes it important is that they may be in line with BTC, but BTC doesn't replace it.

Let's think, people around the world most will need oil, what will they do or we do without oil? BTC can not replace the function of oil and also gold.
I am wondering in what case BTC will replace oil?   

[Light onuoha]

 Bitcoin can not replace oil and gold, because those three characters (bitcoin, gold, oil) are unique in different ways. Eg, oil is used in vehicles, and there's no way bitcoin can replace that, gold is obtained from the earth, people work hard for it. Gold and oil are very essential to mankind, so they can not be replaced by bitcoin.

[bitcoin31]

I don't think so the bitcoin will replace gold and oil . Many people are using oild and gold and it already use for long time ago but the bitcoin is new only 1 decade and not all the people are using this.  But if a person are really want to earn more maybe it is good option for him to invest to the bitcoin , oil and gold to earn a lot of money because we know many peoe become rich because of these.

[Kasabus]

 Bitcoin can not replace oil and gold, because those three characters (bitcoin, gold, oil) are unique in different ways. Eg, oil is used in vehicles, and there's no way bitcoin can replace that, gold is obtained from the earth, people work hard for it. Gold and oil are very essential to mankind, so they can not be replaced by bitcoin.

Bitcoin is an alternative payment system and even a good store of value but it won't definitely replace oil and gold because they have different usage of course. Oil and gold have been existing already for long long years and people were already using it in its advantage so bitcoin which is still in its 10 years from discovery is still not capable to replace them both.

[J.Amador]

Really bitcoin will replace oil and gold maybe that's oaky in your country here in my country bitcoin are not gonna replace oil and gold here bitcoin is our investment and bitcoin here can be your sideline if you want to have a money

[romero121]

Growth of bitcoin is tremendous, for the same we can't expect the natural resources be replaced by technology assets. Gold and oil has been serving as the revenue generator for more countries. The dependence level on oil and gold in economic development is very big in comparison to bitcoin.

Maybe in the future situation can change when more number of people prefer cryptocurrency for day to day needs. Maybe as bitcoin is co-existing with banking and large network firms we can expect mutual growth than replacement.

[daarul50]

What a strange perspective haha
What is on your mind actually ? Oil is on different dimension and you put it on the same level as bitcoin?
This is too much non sense.
Bitcoin itself can never replace anything not even any currency that much more relatable.
It should have replace anything but as an advanced alternative bitcoin is here to develop.

[hridoyb]

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 is the most valuable and important  on the crypto world and people use it for digital  money transaction. So bitcoin never replce but most of the time it play pump -dump and panic...Pleople think bitcoin will be die or destroy but i saw it  always  comeback super..I was sell my btc when it was 8000$  and think  it will be replece other coin or meterial but bitcoin again pump and stay it 10000-12000$.So never dispointed if you are real crypro lover...