Bitcoin will replace oil and Gold

[1l1l11ll1l]

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.

That's right, I'm also not sure that bitcoin can even be on their level as one of the primary businesses in some major countries. Gold and oil have a vital and strong position where they are the reserves of state assets

[bounceback]

How come bitcoin can replace oil and gold? bitcoin is payment currency transaction and oil become most needed by many people to use for industry, airplane and many transportation need oil, how come if bitcoin replace with oil and gold. I think price or investing with bitcoin better than oil or investing in gold because bitcoin have fluactive price and look faster for growing up than gold, but bitcoin have risk with faster going down than gold where looks stable and have change to raise up about 5% every year. Bitcoin and oil have different function each other, people can live without investing in bitcoin but never have activities in the world without have oil, never use wrong ration between gold, bitcoin and oil function because each other have different function for the world.

[mnporter2001]

When a crisis or great inflation happens, no one will invest in oil, it will be more precise that Bitcoin replaces gold. Besides, I admit that Bitcoin is currently the hottest asset class as it just went through the Halving event.  Therefore, it is attracting a lot of money from investment funds at the moment. I think Bitcoin was only in the bull run due to the Halving event; But without the Halving event I think gold prices would have skyrocketed this year

[target]

If you go over to youtube videos including the videos of Raoul Pal of Real Vision, they are saying that BTC will likely be a currency reserved when USD falls.  Some of the people mentioned it's going to replace Gold too. There is no telling when it would happen but holding BTC right now might just be the best to do than spending it now.  This is why users today will just see BTC as an investment, not a currency.

[Axelseseclevz]

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!!

How do a digital currency will replace a natural resources like oil and gold?  Bitcoin is valuable enough no doubt but it is a digital currency that can be use as investment and payment method. Bitcoin, oil and gold has a different functions that's why it's difficult for bitcoin to replace gold and oil. People can live without bitcoin and gold but Oil is essential for daily living.

[Swopon]

There is no possibility yet. Because gold and oil became the most necessary part of human life. But can't make this position that anyone will replace it with oil and gold. But no one can exactly say what happens next. We hope BTC will go far in the long run.

[AicecreaME]

Bitcoin can never replace gold and oil no matter how promising its value may be. It won't replace gold and oil simply because the aforementioned are widely used in different purposes. Gold and oil have high value since time immemorial. Both are classified as nonrenewable, meaning cannot be replenished over time since these are formed after millions of years. Oil and gold serve so many functions on the field of technology, medicine, currency, investment, and manufacturing. Thus, bitcoin can't really replace oil and gold in terms of its role in the society.

On the other hand, bitcoin can match the pace of price movement of both gold and oil. Bitcoin has shown its potential earlier this year, and surely it won't be the last time for it to be bullish. The three are good investments in my opinion, so there's no need to pit them from one another since they have different roles and uses. You just have to pick what suits your preference and budget the best.

[AjithBtc]

More countries are dependent on oil for their wealth. The economy of these countries used to fluctuate heavy when there is large scale changes in the oil market. With gold the scenario is different, as it is a rare metal it has gained value and the value is further increased as it is kept as reserve by every country.

In the coming years the usage of electric cars will increase, and the dependence over oil will drastically reduce. Already some countries like Bulgaria have increased their bitcoin holding high than gold. This increase will get followed by other countries.

[PonZZ]

Bitcoin can't replace oil or gold. Unlike the first crypto they have physical implementation and real uses cases. 

[samputin]

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!!

Even the price of bitcoin become very huge it cannot change the oil and gold. The uses of oil and gold is very important than earning of money using bitcoin. If the oil or even the gold will down our economy will also down cause it has big role in our society. And without bitcoin our economy is still growing. And some 1st world countries, the oil and gold is the primary source of income and because of this their economy is very rich. Also oil and gold is the one asset of powerful country.

[goldade]

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've had to answer this particular question several times. One would have thought my stance would have changed on the subject but no, it has not. I still hold the believe that oil and gold will not at any moment be replaced by bitcoin.
You should know that each of them have their own unique features that made them what they are. Yes, bitcoin might get to be popular than oil and gold as the years go by but it cannot replace them

[faulkner27]

There's been a lot of debate about how bitcoin compares to gold as a safe-haven asset, but one firm predicts that bitcoin won't replace gold or oil. I thinks that bitcoin's dominance among cryptocurrencies will be reduced in 2021.

[AndySt]

I've had to answer this particular question several times. One would have thought my stance would have changed on the subject but no, it has not. I still hold the believe that oil and gold will not at any moment be replaced by bitcoin.
You should know that each of them have their own unique features that made them what they are. Yes, bitcoin might get to be popular than oil and gold as the years go by but it cannot replace them

Bitcoin will not be able to replace oil and gold, if only because it is impossible to make jewelry and plastic products from bitcoin, not to mention other applications in industry as raw materials Therefore, gold and oil will always be taken into account in the price, a constant as a raw material, and not only as an exchange-traded asset for conducting speculative operations in the market.

[DrBeer]

try to simulate a global catastrophe for yourself, and think about how the value of cryptocurrencies and bitcoin will be formed? Formed? Now try to clarify - how in such a world will bitcoin be technologically present and functioning? Interesting question, isn't it?

[Banprox]

I don't think so. Because Bitcoin is a digital currency. On the other hand oil is usable for daily needed. Gold is also usable for jewelry. Bitcoin can replace with local currency but not with oil or gold. If you tell that thinking about holding or investing money then Bitcoin can replace with gold but I don't think that bitcoin can replace with oil. Also you need to know that some government accept Bitcoin but not in all sector. Also some country banned Bitcoin because of decentralization.

[wxxyrqa]

It is undoubtedly possible to predict any situation when it comes to the superiority of Bitcoin over gold or oil on the market, since in real life the Philosopher's simple words can be valued much more expensive than any labor or commodity without which a person cannot live. But nevertheless, it must be borne in mind that the reserves of oil and gold on the planet are also limited, and the demand for them is constantly increasing. Thus, it can be assumed that the value of gold and oil, as well as bitcoin, will rise in parallel.

[hahay]

It is undoubtedly possible to predict any situation when it comes to the superiority of Bitcoin over gold or oil on the market, since in real life the Philosopher's simple words can be valued much more expensive than any labor or commodity without which a person cannot live. But nevertheless, it must be borne in mind that the reserves of oil and gold on the planet are also limited, and the demand for them is constantly increasing. Thus, it can be assumed that the value of gold and oil, as well as bitcoin, will rise in parallel.

Therefore, at least they will continue on their own path without anyone needing to be replaced. Can't imagine when bitcoin is turned into a resource like oil, will it really work, because I don't think so. In addition, the treatment of bitcoin in each country is at least different so even though it is said that bitcoin can replace gold and oil, it can never be because different policies will definitely complicate it and it will not be possible because these are different resources that are equally needed.

[Mituletr]

The rise of cryptocurrencies in mainstream finance has come at the cost of gold. Since October last year, funds have flooded into Bitcoin funds, and in the long run, as more institutional investors hold cryptocurrencies, this trend will only continue. As digital currency becomes more and more popular as an asset class, if investors transfer a small part of their allocation from gold to cryptocurrency, this trend will give the gold market a long lead in the next few years. To trouble. The adoption of Bitcoin by institutional investors has just begun, and for gold, the adoption of Bitcoin by institutional investors has been very long.

[StevieRay]

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.

[Sithara007]

The rise of cryptocurrencies in mainstream finance has come at the cost of gold. Since October last year, funds have flooded into Bitcoin funds, and in the long run, as more institutional investors hold cryptocurrencies, this trend will only continue. As digital currency becomes more and more popular as an asset class, if investors transfer a small part of their allocation from gold to cryptocurrency, this trend will give the gold market a long lead in the next few years. To trouble. The adoption of Bitcoin by institutional investors has just begun, and for gold, the adoption of Bitcoin by institutional investors has been very long.

I don't think that the gold prices were impacted by the Bitcoin bull run. The reason why gold prices went down is because of people selling their gold holdings, in order to survive the lockdowns and unemployment which resulted from the COVID 19 pandemic. So there is no relation with the Bitcoin rally. On top of that, the stock markets are at record highs, which discourages mainstream investors from accumulating gold bars and coins.