Why do many people call Bitcoin "digital gold"?

[CaptainCrapper]

Because people think Bitcoin can be a digital store of asset. Gold as physical store of asset. When they believe like that, it means they believe in the intrinsic value of Bitcoin.

Their belief can be right and is based by valuable reasons or can be wrong and is not based on anything.

If you see good reasons from their belief, Bitcoin has good future. I share on informative article to you. They bullish case for Bitcoin

I think when the end of total mining in the 2041 year or other any year this time will justify our goal and demand of bitcoin. Now we cant imagine the mattar already 80% mining is complete. All of the Big investors involving with bitcoin so think this time when every transaction will complete by BTC. For that reason everyone telling it digital gold and I agree with this.

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[conected]

we might say that bitcoin is almost like gold whose price tends to fluctuate.and storage is almost like gold that's why bitcoin is called digital gold. as we see today how bitcoin performs both in the storage process and at the time of release that we want to sell on the global stock market, maybe that is why bitcoin is said to be digital gold,

- Storage is not exactly the same, sometimes I feel that the name seems to be the manipulation of a genius brain, although the odds of determining the similarity between bitcoin and gold are very low but quite a few people have removed and cut the important points, combined the both and created a special relationship. Bitcoin fluctuations are a disrespect for theories and separations between technical and predictive while gold respects those laws due to its links to the economy and government.

[Qirtov]

I think many people call bitcoin digital gold because the nominal bitcoin is so large and its appearance is similar to gold but in digital form. Bitcoin can also be used as an investment like gold maybe things like that are generally the reason some people call bitcoin digital gold. Actually both bitcoin and gold complement each other. Bitcoin has its own advantages in one of its fields compared to gold and vice versa.

[mrongos]

Bitcoin has all the same characteristics as gold. The number of Bitcoins is limited (only a certain amount will be produced), Bitcoins can be broken down into smaller units without losing the value of those units (1 Bitcoin = 100,000,000 Satoshi - the smallest unit of Bitcoin, just like cents in Dollars or pennies in Pounds, so we can buy less than one Bitcoin), Bitcoin technology is also stable and will not degrade, nor is it possible to create fake Bitcoins. Also, unlike gold, you can move Bitcoins anywhere in the world in a matter of minutes, regardless of the amount of Bitcoins. That's why people call Bitcoin digital gold, but better digital gold.

[RainbowKun]

According to statistics, the total market value of global gold currently exceeds 8 trillion U.S. dollars. If the market value of Bitcoin exceeds 8 trillion U.S. dollars, the value of a single Bitcoin will exceed 400,000 U.S. dollars. This is just a judgment on Bitcoin's value as a "digital gold".

Why do many people call Bitcoin "digital gold"?

I'm sure some people refer to bitcoin as digital gold, because they don't analyze it as far as you do, they only look at the basic physical aspects of bitcoin like limited supply and to own it we also have to do mining, if we look at it from this physical only, it's not wrong if they analogize bitcoin as gold in digital form, and some people also claim that bitcoin is better than gold.

Yes, in my opinion, Bitcoin not only has similar characteristics to gold, but also has many advantages that gold does not. This is why I think that Bitcoin will replace gold and become the real world currency.
In the future world currency system, we will build around Bitcoin. The most important role that Bitcoin will play in the future is not to pay, but to store value. Humans store wealth and value in Bitcoin.

[Marvell1]

When it comes to gold, it represents expensive scarcity and wealth if someone owns gold. "expensive as gold", "precious as gold", that's what people keep saying. People call bitcoin digital gold because it simply has many similarities like very precious and rare. Even in terms of technology bitcoin is superior to gold in every way. Bitcoin can be used as a payment method, is an investment tool and also a safer store of assets than gold because it is anonymous.

[anil07]

Bitcoin is an digital currency and it's value very high BTC growth day by day like gold. we can called btc digital gold. we store it for the future like gold
in the future btc give us more profit so people says btc digital gold.

[syedakhlaque]

The people rightly call Bitcoin "digital gold".Because it was Gold that was used as the main trade matter in the history of the world.
After Gold on the world level, This is bitcoin that is been used For the last decade. Bitcoin business is growing day by day without any border or country limit. The flow of this business cannot be controlled by any country. So it is expected that Bitcoin will take place of Gold in future world trade. So we can say it is "Digital Gold".

[habebe]

 :)well about the bitcoin crypto asset  was a digital currency but many people they don't know about bitcoin and they think is like an expensive gold they compared gold to bitcoin and nown as always gold but about bitcoin i know  is a higher than gold but the truth is bitcoin are the most popular crypto currency, in the world

[eXtremal]

It's a parable. But it really looks like real gold. Gold is non-renewable, supply is limited, scarce, and valuable. It also exists in bitcoin but bitcoin is the digital version. This makes the times more interesting.

[MIner1448]

This is, of course, a hackneyed topic for discussion, but it is called digital gold for the main reason, and this is its market value and its capitalization, now it is difficult to imagine or find a digital value that would be so worth it, perhaps there is no such value anywhere and never will will. Bitcoin took the lead in digital asset and will be there for a long time.

[Gyfts]

However, despite us wanting to hold a physical item, modern times are changing quite quickly, most people are becoming accustomed to handling their finances online, where as 5-10 years ago, most people thought of it as insecure.  So, while at the moment people like shiny physical things, it is quickly changing. Several challenging banks are now operating entirely online, and don't even have any local branches that you can go too. Bitcoin will most certainly benefit from this psychological shift in our culture.

It's a bit of a double edged sword because it's hard to make the case to someone that Bitcoin should replace traditional currencies when it isn't a tangible asset. Granted, currencies shifted away from the gold standard anyways so there is nothing supporting traditional currencies anyways.. And, most modern banking is just digital numbers shown as a balance on an account, but the idea is that the number on the screen can be exchanged for physical cash. With Bitcoin, there is no such concept.

[rodskee]

It's a parable. But it really looks like real gold. Gold is non-renewable, supply is limited,
 scarce, and valuable. It also exists in bitcoin but bitcoin is the digital version. This makes the times more interesting.

Indeed here mate, Bitcoin named digital gold because Like gold both characteristics are the same though Gold may still regenerate after 2070 yet this will take long years again not Like bitcoin that after mining the 21 million btc there are no other to be mined forever.
and besides the use of Bitcoin and Gold are almost the same.

[Imran232]

How do I understand these things? What do people call bitcoins as digital gold? But there is a simple thing. No one says bitcoin is digital gold. They just compare it with gold and conclude that bitcoin can be a value like gold in the digital world. Gold is a valuable thing in the physical world, where bitcoin has value like gold in the virtual world. Though people can now invest gold virtually, like they don't need to hold gold, they just need a wallet where they can get an amount of gold virtually. That is the reason people are almost saying bitcoin is a version of gold, digitally, all because of its value.

[peter0425]

Do we really need to elaborate that, if you are here and believer of Bitcoin you will understand why we are calling this as digital gold.
Not like Fiat that has been provided by the government , Bitcoin is like a gold that needs to go in process of Mining and the stocks are limited, it may be mined in future and the value will surely increase to the max.
so meaning that either Gold or Bitcoin both are very valuable in physical and digital world.

[marilynmanson21]

Bitcoin has all the same characteristics as gold. That's why people call Bitcoin digital gold, but better digital gold. Bitcoin also has value as a payment system. The more people use Bitcoin for payments, the more valuable this payment system becomes.

[Alert31]

I think because of it's value which is precious like gold. Digital because bitcoin was created as digital currency which comparable to gold. You know the only thing that’s great about bitcoin that isn’t in gold is that every person in the digital community can have bitcoin even smaller. Many people have bitcoin in their wallet but no gold.

[rozak]

Bitcoin has all the same characteristics as gold. That's why people call Bitcoin digital gold, but better digital gold. Bitcoin also has value as a payment system. The more people use Bitcoin for payments, the more valuable this payment system becomes.

I don't like having to equate the two. although I have both for investment, Gold is like a very passive asset to save money when we need it in the future.
but bitcoin is an asset that can give us money whenever we want. I mean, daily, monthly, or maybe yearly. It all depends on our planning.
both are different. but maybe many give the term because they see a very large increase in the price of bitcoin.
as a means of payment, both have their history. because in the past, we could recognize gold coins (gold coins used for transactions). now everything has been made simpler and cheaper.
while bitcoin is currently struggling, or maybe only a few commodities are accepting payments using bitcoin.

[zaesvlas]

Is not it so? As for me, now for investment this is a really worthy option, which can be quite profitable.

[worldofcoins]

I don't call it digital gold but it has some similarities but isn't the same!
There's a coin named "Bitcoin Gold" and if I'm not wrong then it's backed up by real Gold and there's a smart contract on it where you pay a percent every "x" days as a tax cut from real gold.

I don't know what to say about it but in simple words, Bitcoin isn't real gold or Backed up by real gold.