Why BTC is digital gold?

[Smartprofit]

Both gold and bitcoin are real assets.  The reality of gold is ensured by its physical properties.  The reality of Bitcoin is provided by an algorithm. 

Bitcoin's advantage over gold is the ease of making a transaction.  At the same time, both gold and bitcoin allow transferring large amounts from one person to another.  There is a need in the world for assets whose price will be very high.  This makes it easy to transfer large amounts of money.  This is the meaning of gold and Bitcoin. 

This is a paradox - no one needs gold and Bitcoin if their price is very low.  This will destroy their capital preservation function.

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[lixer]

How we can determine BTC is digital gold?BTC Thats can be determined by their attribute. Gold is valuable because it's rare and has a limited supply. This term is true for Bitcoin as well. Both can be exchangeable with essential goods and they are acceptable in our society. Gold and BTC both can be stored though they have different methods to do that. But if you compare these criteria then we can say Bitcoin is digital gold.

That’s for you all that call it gold, I don’t have that kind of time . I just call Bitcoin what it is – Bitcoin, and gold is simply gold and nothing more. And the second comment pointed out something else that I agree with, none of them are rare, they can easily be purchased; you can buy Bitcoin at any day and any minute you want, nothing stops you, the only thing is that the price you see it today will not be what you’re going to be buying it tomorrow because the price is volatile.

Then that’s the same thing with gold, gold is not rare, you can buy it anytime you want to buy, there are lots of companies to invest and buy gold from anytime you want it.

[pankowri]

How we can determine BTC is digital gold?BTC Thats can be determined by their attribute. Gold is valuable because it's rare and has a limited supply. This term is true for Bitcoin as well. Both can be exchangeable with essential goods and they are acceptable in our society. Gold and BTC both can be stored though they have different methods to do that. But if you compare these criteria then we can say Bitcoin is digital gold.

You pointed that Bitcoin is digital gold. I don't support this statement though both has some similar nature where gold price can be considered as stable and Bitcoin price isn't. Currency and a product cannot be compared within a same way. So I want to say that Bitcoin is Bitcoin which is a digital currency and gold is gold which is a valuable product only.

[Noctis Connor]

How we can determine BTC is digital gold?BTC Thats can be determined by their attribute. Gold is valuable because it's rare and has a limited supply. This term is true for Bitcoin as well. Both can be exchangeable with essential goods and they are acceptable in our society. Gold and BTC both can be stored though they have different methods to do that. But if you compare these criteria then we can say Bitcoin is digital gold.

You can't compare digital to gold because we knew that bitcoin is bitcoin , and gold is gold and both them are both good asset but limited asset that can be use if one country are down in economy, to help it rise again, Aside from that you can go anywhere with bitcoin without any hassle unlike gold if someone knew you had gold in you maybe they will try to rob you, Both are really good when it come to asset which can be use in difficult times, and gold is really rare where only billionaire had this unlike bitcoin everyone can have it.

[Swopon]

If you think both from investment purpose, then I must support gold which has physical value and almost the price is stable where Bitcoin price isn't stable and it is almost unpredictable. You can guess the price from support and resistance analysis. But it can be proved as wrong. You may lose or win and the process will be risky if you are going to invest in Bitcoin. Both has many similar nature. So it can be considered as digital gold maybe.

[Chrystora123]

How we can determine BTC is digital gold?BTC Thats can be determined by their attribute. Gold is valuable because it's rare and has a limited supply. This term is true for Bitcoin as well. Both can be exchangeable with essential goods and they are acceptable in our society. Gold and BTC both can be stored though they have different methods to do that. But if you compare these criteria then we can say Bitcoin is digital gold.

for me, Bitcoin is not digital gold because digital gold (crypto) is https://coinmarketcap.com/currencies/pax-gold/ & https://coinmarketcap.com/currencies/digital-gold/.  Bitcoin itself is very unique because it has a limited number (only 21 million in total) while gold has an unlimited amount and has other advantages..

[Akash1243]

Bitcoin is digital gold is just a phrase but if we see gold has comparatively more stability when comapre to Bitcoin.Only common thing between them are that both are good assets and also limited.

[Nellayar]

I have a question for you: how can we determine gold? After all, is is just a name which human create for an object. And over a period of time, it has been raised and adopted by human as one of the most valuable asset on the world

Same thing is happening to bitcoin. We use digital gold to name bitcoin which makes it becomes even more valuable.

The OP describes bitcoin as a digital gold because of its rarity and price. Yes, we, humans named or coined the term gold and bitcoin so that we can distinguish the thing we have to describe.

Actually, he did not say directly that bitcoin is a gold. He just want to emphasize that bitcoin is valuable enough so that we might also see it as valuable as gold. Bitcoin is valuable and volatile, it can be an investment or asset that we can store over a period of time. For me, bitcoin can become gold when it comes to value and rarity. And it is also a digital currency that may destroys the fiat as time goes by.

[soetikno]

bitcoin and gold are different, we know gold is a real thing, while bitcoin is a digital object, the functions of the two are different, Bitcoin is crypto, you can say it is a digital asset and not gold

[Gemini24]

I often hear that they always trying to connect bitcoin and gold, sometimes comparing it. But for me they are different in terms of many ways. Bitcoin is a valuable digital asset in today's generation and the majority is starting to adopt it nowadays, while gold is an asset we literally hold on to and it has been tried and used since the time of our ancestors.

[jamesde]

BTC isn't comparable to gold or digital gold, because it's not like gold. It doesn't have a large demand from industry. It has nothing to offer besides being a store of value. Those two criteria exclude something from being a store of value, because there is zero protection against a sell off due to market sentiment or for any other reason. For gold protection is a heavy industry demand, many more uses besides being a store of value and finally, thousand of years of being a successful store of value. Bitcoin doesn't have any of that.

[Mauser]

BTC isn't comparable to gold or digital gold, because it's not like gold. It doesn't have a large demand from industry. It has nothing to offer besides being a store of value. Those two criteria exclude something from being a store of value, because there is zero protection against a sell off due to market sentiment or for any other reason. For gold protection is a heavy industry demand, many more uses besides being a store of value and finally, thousand of years of being a successful store of value. Bitcoin doesn't have any of that.

While I agree with you partially that hold has a huge demand from industries and luxury companies, the demand is not based on real needs. The value we give to hold is artificial, because its just based on some material that is very scare. If one day we would find a massive goldmine that the demand would likely drop. If everyone can afford a huge gold necklace than it's not special anymore. This aspect which is what makes bitcoins digital gold. There is only a limited quantity.

[Janation]

Bitcoin is bitcoin, it is what it is.

A lot of people are been saying that it is a Digital Gold but for me it is just Bitcoin. It is a digital currency and the most expensive of them all the reason why we usually compare it to gold. Bitcoin is so volatile, Gold isn't that volatile, as these two is limited, Gold can be used in some ways while Bitcoin is just a digital asset.

[davinchi]

We have talked about this for the past 10 years, this is really not a new topic nor it is not something we should really care about neither, at the end of the day we are talking about something that will not really change that much of our lives if it is like gold or not.

If you care about bitcoin, just focus on bitcoin and nothing else, do not try to make it look like something else, just because bitcoin is seen as digital gold, or maybe seen as totally different should not change anything about bitcoin at all. See bitcoin as bitcoin and nothing else, it is something awesome that has gained a lot of price in the past few months and people are very much in love with it, keep focusing on that part and you will find why we love it so much and what it brings to the table for it.

[Dragonfund]

bitcoin and gold are different, we know gold is a real thing, while bitcoin is a digital object, the functions of the two are different, Bitcoin is crypto, you can say it is a digital asset and not gold

You meant Gold is more like physical thing we could feel, touch, exchange, reshape and reform. I get the difference but don't you think they some similar functions since

• Bitcoin and gold can be exchange as asset and value transfer.
• Bitcoin and gold can be traded, one through coins exchange and the other one through brokers. There are even some cryptocurrency exchanges that support trading of digital gold limited in supply.
• Volatility can happen to both assets depending on the market situation.

I prefer bitcoin because it can yield more than gold.

[themohit]

How we can determine BTC is digital gold?BTC Thats can be determined by their attribute. Gold is valuable because it's rare and has a limited supply. This term is true for Bitcoin as well. Both can be exchangeable with essential goods and they are acceptable in our society. Gold and BTC both can be stored though they have different methods to do that. But if you compare these criteria then we can say Bitcoin is digital gold.

Bitcoin could be considered as digital gold somewhere in the future.
Its fluctuations are too dangerous for mid term investments.
You never know whether you're going to make decent profit over 3 months or will have to hold on to it for next 3 years.

[Casdinyard]

How we can determine BTC is digital gold?BTC Thats can be determined by their attribute. Gold is valuable because it's rare and has a limited supply. This term is true for Bitcoin as well. Both can be exchangeable with essential goods and they are acceptable in our society. Gold and BTC both can be stored though they have different methods to do that. But if you compare these criteria then we can say Bitcoin is digital gold.

Bitcoin could be considered as digital gold somewhere in the future.
Its fluctuations are too dangerous for mid term investments.
You never know whether you're going to make decent profit over 3 months or will have to hold on to it for next 3 years.

Futuristic approach is applicable since Bitcoin is only linked to gold as an asset or as an investment which gives a tendency for its market value to increase over time. But to why it won't be considered as digital version of gold is due to its usage as well to the nature of its value. Not to mention centralization and de centralization. Maybe, further development will quite sort things out whether these two shares the common ground or not, as an investment. But we just cannot blame those people who are already having expectations into such idea of this technology.

[Mejoress]

In 5, 10 or 50 years bitcoin may disappear or not due to government regulations, so we can't compare bitcoin with gold, gold won't disappear or lose its value. Investing in bitcoins is like investing in yuan, but it is more volatile. Maybe in 200 years we all use yuans, or maybe, and probably, not