Bitcoin will replace oil and Gold

[Spaffin]

undoubtedly today in the world there are very relevant producers of technology for alternative energy sources, but nevertheless, oil is still in demand on the market and its amount in the world is decreasing every year. The same situation will be with gold, because with the growth of high technologies, the demand for this metal, due to its physical and technical properties, only rises. Based on this, both gold and oil will have a fairly high price on the market. The only difference today between these assets is that Bitcoin, due to its volatility, provides great opportunities for making huge profits. but today it is gold that is a reliable storehouse for its capital, although I agree that the safety of funds is more securely implemented best of all with Bitcoin.

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[dimox]

nope, they will survive and cant be replace by other think. both of them have different skill, and you cant compare each other.
sometimes, people will agree that A is beauty than other despite have different appearances. main reason is how much people about this A

[Ebede]

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 not replace gold or oil but rather but will grow side by side ,as bitcoin will forever remain relevant for monetary transaction, for instance those who will sale or buy the gold and oil will soon be buying and saleing there products using bitcoin as the safe means of transaction without involving the various financial institutions that will regulate or hinder them with there rigorous policies ,but rather with bitcoin there business will strive very easy and fast

[worldofcoins]

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 is more adaptable, and individuals favor it. The government is behind the Gold and oil, and they'll never wish to supplant it anything.

[zanezane]

Can some infrastructures run in bitcoin? I don't think so. Can bitcoin be used as a protection film for astronaut's helmet? I don't think so too. Each has their own uses and it's not really a matter of hype that will cause this stuffs to be useless, in terms of investment, it's unlikely that they will ever be truly gone and if it is, it's going to take a long time.

[ndgo]

Peak Oil will come. Peak Gold will come. Peak Bitcoin will come.

Which will remain money after mining ends?

Not oil. 04-20-2020 proves this.

[perryxi2]

No, I don't think Bitcoin won't replace oil and gold, although we know that gold is not more flexible than Bitcoin. Bitcoin's existence is very small at the moment when compared to some resource businesses in the world.Bitcoin has monetary value but that doesn't mean it will replace these things, the price will go up but that does not mean is oil and gold will be lost. Oil will have a place in the economy, even though oil prices are plummeting. Gold will always hold a value and it is the fact about the physical metal of the gold metal. higher value and but in terms of quality and applications in everyday life such as creating machine parts to serve production needs, BTC cannot be compared with gold.

[Rajamuda]

This is like a mix between the real and virtual world, it will continue to last a long time all the time, also has its own advantages over the characteristics of the profits that can be obtained from it.
They won't replace each other, but there will probably be one at any given time that stands out more and is closer to a lot of people in terms of finances or income.

[XCANA]

How on earth will Bitcoin replace oil op, do you really know you are talking about or you are just talking out over anxiety which no one can depend on to the bank if I should put it that way. Are you aware that oil is not own by every country of the world, i.e not every country is oil producing country and you should note that every country of the world can start mining Bitcoin if and only if every government want to do just that you know. And if you say yes to that then do you the economic effects of that on Bitcoin. So don't just compare oil and Bitcoin as they serve different purpose.

[southerngentuk]

How on earth will Bitcoin replace oil op, do you really know you are talking about or you are just talking out over anxiety which no one can depend on to the bank if I should put it that way. Are you aware that oil is not own by every country of the world, i.e not every country is oil producing country and you should note that every country of the world can start mining Bitcoin if and only if every government want to do just that you know. And if you say yes to that then do you the economic effects of that on Bitcoin. So don't just compare oil and Bitcoin as they serve different purpose.

Maybe you're looking at a different angle the OP is referring to.
I think it's a matter of its importance in life, but substitute is a word that can be misunderstood by many.
The problem here as you talk about their different uses is about the nature of the common. But I think if you look at the fact that it's all things that serve a human purpose, so I just look at it as tools to solve life's problems and one day we might see the importance between them is the same.

[Sithara007]

How on earth will Bitcoin replace oil op, do you really know you are talking about or you are just talking out over anxiety which no one can depend on to the bank if I should put it that way. Are you aware that oil is not own by every country of the world, i.e not every country is oil producing country and you should note that every country of the world can start mining Bitcoin if and only if every government want to do just that you know. And if you say yes to that then do you the economic effects of that on Bitcoin. So don't just compare oil and Bitcoin as they serve different purpose.

Maybe you're looking at a different angle the OP is referring to.
I think it's a matter of its importance in life, but substitute is a word that can be misunderstood by many.
The problem here as you talk about their different uses is about the nature of the common. But I think if you look at the fact that it's all things that serve a human purpose, so I just look at it as tools to solve life's problems and one day we might see the importance between them is the same.

Nothing wrong in what XCANA said. If the OP meant differently, then he should have clarified it in his post. The topic was not how Bitcoin will replace oil in terms of importance or in commodity trading. When you say just replacement, it naturally means substitution. And even in this sense, I am not sure how Bitcoin is going to replace oil, because the position of oil in commodity trading is secure, at least for the next few decades. And also let's not forget the fact that the oil prices have gone up by almost 100% in the recent times. It proves that oil is still very relevant.

[PhucS]

How on earth will Bitcoin replace oil op, do you really know you are talking about or you are just talking out over anxiety which no one can depend on to the bank if I should put it that way. Are you aware that oil is not own by every country of the world, i.e not every country is oil producing country and you should note that every country of the world can start mining Bitcoin if and only if every government want to do just that you know. And if you say yes to that then do you the economic effects of that on Bitcoin. So don't just compare oil and Bitcoin as they serve different purpose.

I agree with your opinion. As for gold, Bitcoin is always compared to it, there are even rumors that Bitcoin can replace gold. However, for oil, I don't think that's possible. As you said, the purpose of oil and Bitcoin is different. Oil is a very important material for daily life, it will not be replaced by Bitcoin

[markdario112616]

How on earth will Bitcoin replace oil op, do you really know you are talking about or you are just talking out over anxiety which no one can depend on to the bank if I should put it that way. Are you aware that oil is not own by every country of the world, i.e not every country is oil producing country and you should note that every country of the world can start mining Bitcoin if and only if every government want to do just that you know. And if you say yes to that then do you the economic effects of that on Bitcoin. So don't just compare oil and Bitcoin as they serve different purpose.

I agree with your opinion. As for gold, Bitcoin is always compared to it, there are even rumors that Bitcoin can replace gold. However, for oil, I don't think that's possible. As you said, the purpose of oil and Bitcoin is different. Oil is a very important material for daily life, it will not be replaced by Bitcoin

Same thought as well, Even Electic cars will not mobilize using Bitcoin. Oil is essential not only for daily usage but as well to keep some Businesses alive. Not sure how will a restaurant operates without oil, it's quite absurd thinking, to be honest. But for Gold and Bitcoin, maybe we can have a discussion at least this one is debatable.

Talking Oil and Bitcoin is a bit Off-topic like one said they serve different purposes. Not sure how did Oil have a discussion within Bitcoin.

[Semar Mesem]

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 many countries around the world legalize bitcoin of course this is a good thing, the value of bitcoin will skyrocket and make 1 btc holders become new rich people, of course this is still a big issue and I'm sure one day it can happen.

[rosenbauer02]

Can you use bitcoin the same as the uses of oil?. I don't think bitcoin can. Bitcoin have its own uses so don't just say that bitcoin will replace oil and gold. You may say that some people will accept bitcoin as payment for the gold they sell.

[feitannnnnnn]

I'm actually looking for the ways on how btc will replace oil, and economics is the only thing I can think of, but how?

For gold, it is by means of investments where gold is stable but is nevertheless not better than btc.

[Kittygalore]

Can you use bitcoin the same as the uses of oil?. I don't think bitcoin can. Bitcoin have its own uses so don't just say that bitcoin will replace oil and gold. You may say that some people will accept bitcoin as payment for the gold they sell.

Hey I feel like this has the same thought as this post.

Can some infrastructures run in bitcoin? I don't think so. Can bitcoin be used as a protection film for astronaut's helmet? I don't think so too. Each has their own uses and it's not really a matter of hype that will cause this stuffs to be useless, in terms of investment, it's unlikely that they will ever be truly gone and if it is, it's going to take a long time.

I don't know if it's coincidental but hot damn that sounds almost the same. You're both right though, everyone has their own uses so it's not worthy trying to make the other superior and the other one inferior.

[geegaw]

Can some infrastructures run in bitcoin? I don't think so. Can bitcoin be used as a protection film for astronaut's helmet? I don't think so too. Each has their own uses and it's not really a matter of hype that will cause this stuffs to be useless, in terms of investment, it's unlikely that they will ever be truly gone and if it is, it's going to take a long time.

Bitcoin exists with opportunities that have brainwashed quite a few people, most of these people in the debate are trying to break down the wall between the so-called virtual and the so-called real but this narrowing is too biased and disdain for gold and oil and used personal creed to bring bitcoin to the forefront and impose poor standards on gold and oil, felt bitcoin could do what gold and oil contributed. Agreed that the virtual value of bitcoin contributes enormously to income but it's a shame about the real value when there is no jewelry or cars designed with bitcoin, this ambition is beyond bitcoin's original base

[Rufsilf]

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 so that the gold neither oil can be replaced by bitcoin. Each one of them have their own functions in our economy and that can't be change anytime soon.

Gold can only be replaced by something that have a similar use like some rare metals or even diamond or something like that. Also for the oil, can be only replaced for something that have some similar use for the economy. Bitcoin can't make your stove or car engine running for basics.

Bitcoin have its own function, it can be an asset or investment and make multiple profits. Or even used as an digital currency for payments. So it's very impossible for now that bitcoin can replace gold nor oil.

[Lotus]

Gold yes, but I don't think we have cars that run on Bitcoin yet.