Why do many people call Bitcoin "digital gold"?

[tanjiran]

because it is valuable, rare, limited in number, and must be mined to get it. yes, digitally bitcoin is almost like gold, the only difference is the regulation. op already explained the comparison of the two, and it's really worth it to have both. there are also those who say that btc is a safe heaven just like gold, on the other hand there are those who disagree because btc's volatility is very high.
if asked to choose which one is better, of course both have their respective advantages, so no need to bother and just choose both

[RainbowKun]

because it is valuable, rare, limited in number, and must be mined to get it. yes, digitally bitcoin is almost like gold, the only difference is the regulation. op already explained the comparison of the two, and it's really worth it to have both. there are also those who say that btc is a safe heaven just like gold, on the other hand there are those who disagree because btc's volatility is very high.
if asked to choose which one is better, of course both have their respective advantages, so no need to bother and just choose both

because it is valuable, rare, limited in number, and must be mined to get it. yes, digitally bitcoin is almost like gold, the only difference is the regulation. op already explained the comparison of the two, and it's really worth it to have both. there are also those who say that btc is a safe heaven just like gold, on the other hand there are those who disagree because btc's volatility is very high.
if asked to choose which one is better, of course both have their respective advantages, so no need to bother and just choose both

In my opinion, the reason why the price of Bitcoin is currently volatile is that we are still in the earliest stage of Bitcoin's development. The market value of Bitcoin is not yet large enough. When the market value of Bitcoin is large enough in another 10 or 20 years, I believe that Bitcoin will not fluctuate so much.

[romero121]

Right now gold is the accepted collateral from banks and financial services apart from bonds and stocks. Earlier investment on gold is a tedious job, now everything has turned digital. Most people prefer gold over bitcoin for different purposes. Based on the growth bitcoin has experienced in a short time period people started to make it as digital gold in conversation even though there is separate digital gold for investment.

[YOSHIE]

Why do many people call Bitcoin "digital gold"?

The image of the logo displayed on Bitcoin resembles Gold, but not gold, the posture and shape resembles metal and is colored gold, but not gold, nowadays people don't want to bother in calling something, if the object resembles silver, gold, bronze they will say as they see it, to make it easier to pronounce and remember.

What you to know, Bitcoin is not physical, besides that Bitcoin can only be obtained when the internet is active, while real gold is in the bowels of the earth, does not need the internet and gold is physical, not imaginary, gold is a precious metal item, Bitcoin cannot be replaced as gold, that will not happen.

The nature of gold is unlimited and inexhaustible as long as the earth still exists, Bitcoin only has 21 million coins, if 21 million people in this world buy Bitcoin, Bitcoin will run out.

[Tigerheart3026]

many reasons here because people have made the highest profit by investing here and its price is rising day by day so most people consider it a more valuable asset than gold.

this digital gold goes up a lot in a very short period of time and people made the highest profit more than gold investment in a few years record so everyone wants to invest here.

[RainbowKun]

Why do many people call Bitcoin "digital gold"?

The image of the logo displayed on Bitcoin resembles Gold, but not gold, the posture and shape resembles metal and is colored gold, but not gold, nowadays people don't want to bother in calling something, if the object resembles silver, gold, bronze they will say as they see it, to make it easier to pronounce and remember.

What you to know, Bitcoin is not physical, besides that Bitcoin can only be obtained when the internet is active, while real gold is in the bowels of the earth, does not need the internet and gold is physical, not imaginary, gold is a precious metal item, Bitcoin cannot be replaced as gold, that will not happen.

The nature of gold is unlimited and inexhaustible as long as the earth still exists, Bitcoin only has 21 million coins, if 21 million people in this world buy Bitcoin, Bitcoin will run out.

As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties:
- boring grey in colour
- not a good conductor of electricity
- not particularly strong, but not ductile or easily malleable either
- not useful for any practical or ornamental purpose

and one special, magical property:
- can be transported over a communications channel

If it somehow acquired any value at all for whatever reason, then anyone wanting to transfer wealth over a long distance could buy some, transmit it, and have the recipient sell it.

Maybe it could get an initial value circularly as you've suggested, by people foreseeing its potential usefulness for exchange.  (I would definitely want some)  Maybe collectors, any random reason could spark it.

I think the traditional qualifications for money were written with the assumption that there are so many competing objects in the world that are scarce, an object with the automatic bootstrap of intrinsic value will surely win out over those without intrinsic value.  But if there were nothing in the world with intrinsic value that could be used as money, only scarce but no intrinsic value, I think people would still take up something.

(I'm using the word scarce here to only mean limited potential supply)

This is Satoshi's description of some properties of Bitcoin, and this post was found by other friends on the forum. When I saw this passage, I was really stunned. This is exactly the kind of state I envisioned.

[sou-kou]

As the world's first cryptocurrency, Bitcoin is hard-coded with digital scarcity, and its supply is limited to 21 million, which makes this asset similar to precious metals such as gold.

Although other cryptocurrencies have adopted the same method, they cannot attract the public and reach its height (whether in price or influence) like Bitcoin.

The title of the Bitcoin white paper clearly refers to the concept of a "peer-to-peer electronic cash system". Obviously, Satoshi Nakamoto created Bitcoin as a means of payment.

In short, adoption is the key.

[ilovealtcoins]

Because Bitcoin is scarce, mining deflates over time, is perfectly secure, and stored on computer space. Bitcoin is providing great payment applications, companies all over the world choose Bitcoin as a reserve asset instead of FIAT. With that comes regulatory corridors in countries that are being built for Bitcoin and cryptocurrencies. Those are the points that make Bitcoin legit and increase in value over time the way gold did.

[elisabetheva]

Right now gold is the accepted collateral from banks and financial services apart from bonds and stocks. Earlier investment on gold is a tedious job, now everything has turned digital. Most people prefer gold over bitcoin for different purposes. Based on the growth bitcoin has experienced in a short time period people started to make it as digital gold in conversation even though there is separate digital gold for investment.

agree, gold is indeed an investment, which has been around for a long time. so it is natural to receive special treatment if for collateral at the bank it is certainly acceptable, even in other places there are those who accommodate it because it is clear that making sales is also easier if it has to be conventionally or digitally. but after bitcoin began to appear we can not close our eyes that, bitcoin is very coveted. bitcoin is better and very profitable for long-term investments than gold, even though both are equally profitable.

[tabas]

Bitcoin is an asset like gold. Gold  price always up down . Bitcoin price also updown always but bitcoin has reached at the peak as like gold price. And in future is all about bitcoin. As big big personalities are also showing their interest in btc. So I can say bitcoin is an asset like gold and it is called digital gold

No, not in the future it's going to be only with bitcoin. It's going to be with every asset and investment that revolutionized the traditional assets and that's why and how it will take over those type of assets. As for the people, we tend to call whatever we seem to be familiar with it and the comparison that it has.

[Gcrypto786]

Bitcoin is an asset like gold. Gold  price always up down . Bitcoin price also updown always but bitcoin has reached at the peak as like gold price. And in future is all about bitcoin. As big big personalities are also showing their interest in btc. So I can say bitcoin is an asset like gold and it is called digital gold

In few terms you are right but still, crypto users can't trust BTC completely and they are well aware of the risk. BTC got popularity when it first pumped and the price reached $20k but now it's been recognized as GOLD in digital currency.

[RainbowKun]

Bitcoin is an asset like gold. Gold  price always up down . Bitcoin price also updown always but bitcoin has reached at the peak as like gold price. And in future is all about bitcoin. As big big personalities are also showing their interest in btc. So I can say bitcoin is an asset like gold and it is called digital gold

No, not in the future it's going to be only with bitcoin. It's going to be with every asset and investment that revolutionized the traditional assets and that's why and how it will take over those type of assets. As for the people, we tend to call whatever we seem to be familiar with it and the comparison that it has.

In my opinion, in the future, Bitcoin is the foundation of other assets and will serve as a reserve asset. In the future, the issuance of some digital currencies or the issuance of legal tenders may anchor Bitcoin. Bitcoin will play a role similar to gold in history.

[carrigan]

I think most people call bitcoin as digital gold because bitcoin itself has such a large nominal and can be used as an investment, not only that the appearance and design of bitcoin itself also looks like a golden color that is so luxurious this is of course synonymous with gold. but the difference is that bitcoin is a digital currency while gold does exist in real form so maybe this is why some people call it digital gold

[marissa23]

I think bitcoin is very appropriate to say digital gold because bitcoin is invested in the long term and bitcoin is getting more and more interested in the same as in the real world there are many people who want to invest in gold and of course gold is very much interested in it so bitcoin in the digital world and gold in the real world .

[BobK71]

The most important thing behind the gold we know as a valuable asset is its price. Naturally, the price is much higher that is why people save it as an asset to them. They can use it by selling it for any special need if they want. According to this concern bitcoin is one another gold or more then it. It is easy to save and sell. Moreover, financial problems can be solved  faster then gold. 

[molsewid]

The most important thing behind the gold we know as a valuable asset is its price. Naturally, the price is much higher that is why people save it as an asset to them. They can use it by selling it for any special need if they want. According to this concern bitcoin is one another gold or more then it. It is easy to save and sell. Moreover, financial problems can be solved  faster then gold. 

If we will going to look back the history of money or currency we can found out that it really evolved. What I mean have you remember that our ancestors treat their live stocks as their wealth then as long as the quality of life of people changing and also the way they purchase products and services then here it comes the gold then after that we have the fiat or paper currency then we have now bitcoin. Bitcoin is now being called as the digital gold because of it's undeniable value that really amazing.

[Mamun74]

People compare Bitcoin with Gold because Bitcoin highlighted now like gold. Gold price always up and down like bitcoin . We are know that gold is valuable asset thing and golds price much higher. Now bitcoin is highest valuable coin in crypto market. So people called Bitcoin is digital gold bcoz Bitcoin play a role like gold in history.

[Findingnemo]

The most important thing behind the gold we know as a valuable asset is its price. Naturally, the price is much higher that is why people save it as an asset to them. They can use it by selling it for any special need if they want. According to this concern bitcoin is one another gold or more then it. It is easy to save and sell. Moreover, financial problems can be solved  faster then gold. 

Bitcoin is certainly a lot better than gold, I never seen a place where they accept gold for the payments of their services or goods, we only can use it as a store of value whereas bitcoin is different which can be used for the transactions with complete convenience and also it is accepted by some major companies and will be accepted by a lot in the near future.

[Marvelman]

The strength of a cryptocurrency is in its underlying technology, so the reason people refer to it as "digital gold" is to draw parallels between the two. Bitcoin is similar to gold because it is a scarce, valuable asset that cannot be copied, counterfeited, or destroyed. And like gold, it is a decentralized asset that can be moved without any middlemen or intermediaries.

Both are financial assets whose value is based on a scarcity of product, unlike conventional fiat currency.

[Sollaes]

Gold was one of the first valuable things that people could use for exchanges and payments. It also was the first tool of investments. Bitcoin is also a beginner of the crypto industry. The majority of people consider gold to be the best investment, as well as Bitcoin is thought to be the most reliable investment.  Also we had to mine gold using our energy, and in terms of bitcoin, we also mine it to have more. Moreover, both of these assets are limited, so there are a lot of similarities.