Bitcoin is the new gold standard of the future

[Irenerty]

Bitcoin is a real opportunity to rebuild a fully decentralized financial system based on true trust. It is the gold standard in the crypto world and the foundation that allows computers to connect and communicate. As more and more people begin to use cryptocurrency, the support of institutions and governments should be of great help in accelerating the adoption of cryptocurrencies in mainstream sectors, and this feat is expected to enhance its value.
The unique attributes of Bitcoin enable it to surpass modern and ancient currency at the margin and provide a powerful impetus for its growing popularity. In particular, the effective combination of censorship resistance and absolute scarcity has always been a powerful driving force for wealthy investors to allocate part of their wealth to new asset classes.
Because Bitcoin can be easily transferred across borders and does not require a banking system, it has become an ideal currency for people who want to escape hyperinflation. In the next few years, as fiat currency continues to follow its historical trend towards the lowest point, Bitcoin will become an increasingly popular choice for global savings. When a country’s currency is abandoned and replaced by Bitcoin, Bitcoin will transform from a store of value in that society into a generally accepted medium of exchange. In the future, if Bitcoin eventually becomes the global reserve currency, then the first countries to accept Bitcoin will get the most benefit on their balance sheets.
At some stage in the future, will Bitcoin be the new gold standard and possibly become a global currency?

https://bitcoinist.com/50-years-later-why-bitcoin-is-the-new-gold-standard/

[Shamm]

 Yes as I see Bitcoins is the most standard Cryptocurrencies an more and more people used Bitcoins because of advantage and reliable of this  crypto that's why more people want to use Bitcoins in a way of trading and investment .

[Poker Player]

Yes, at the moment Bitcoin is succeeding as a substitute for gold but much better. It is like google maps to paper maps. Although we cannot say it definitely yet, we will have to wait for the Bitcoin to surpass gold in market cap. At that point the defenders of gold will have to admit defeat. 

Apart from that, we will have to see if tomorrow it will be used effectively as a currency and as a unit of account.

[Liamttw]

Bitcoin is an asset that establishes a monetary system, and it is the basic currency of the future.
Bitcoin is not issued by any government agency or bank, but generated by the calculations of individual network nodes. Anyone can make and buy bitcoins, making it completely free from national boundaries and can be circulated all over the world.
Bitcoin has undergone many positive changes, and it may soon become a reliable and long-term storage method with gold. The growth and changes of Bitcoin make it more inclined to become digital gold, and it may lead the natural evolution from legal tender to digital currency. Make cryptocurrency an investable asset that can go hand in hand with gold, or even surpass gold.

[Charles-Tim]

When a country’s currency is abandoned and replaced by Bitcoin, Bitcoin will transform from a store of value in that society into a generally accepted medium of exchange. In the future, if Bitcoin eventually becomes the global reserve currency, then the first countries to accept Bitcoin will get the most benefit on their balance sheets.
At some stage in the future, will Bitcoin be the new gold standard and possibly become a global currency?

Did you think the government can make this to happen, for bitcoin to replace their country's currency, they can regulate Bitcoin, they will even see Bitcoin as threat, but Bitcoin is not a replacement but an alternative, Fiat has benefit while Bitcoin has benefit, Fiat for spending while Bitcoin for holding.

At some stage in the future, will Bitcoin be the new gold standard and possibly become a global currency?

People refer to Bitcoin as the digital gold already, but the marketcap of gold is still very high if compared to Bitcoin. Bitcoin with a marketcap in 900 billion, while that of gold in 11 trillion. But for Bitcoin to surpass gold, there is still a long way to go. Many rich people still prefer gold because they see it more as a store of value, while Bitcoin as a speculative asset ( but Bitcoin is both), this is why some still hold more of gold. But, anything can happy, it does not change the fact that Bitcoin is the most successful asset since 10 years ago till now, people could be drastically moving to Bitcoin, but this I do not know, nobody can give the assurance, but likely that Bitcoin will have up to gold marketcap one day.

[Tim-BTC]

At some stage in the future, will Bitcoin be the new gold standard and possibly become a global currency?

https://bitcoinist.com/50-years-later-why-bitcoin-is-the-new-gold-standard/

Bitcoin's biggest advantage is also its biggest weakness.

Bitcoin is the first generation of Digital currency products under the blockchain technology.

 Even if a certain Digital currency may eventually become an international currency, its choice will definitely not be Bitcoin. Although the final amount of Bitcoin is limited, the types and production of online currencies are almost unlimited.

The core feature/value of Bitcoin is not Bitcoin itself, but the subsequent blockchain technology. Just like banknotes, its core feature/value is not the first version of banknotes, but the operating mechanism of banknotes.

[Zilon]

Bitcoin is a real opportunity to rebuild a fully decentralized financial system based on true trust. It is the gold standard in the crypto world and the foundation that allows computers to connect and communicate.

I'm always not comfortable comparing Bitcoin to gold because despite the fact that gold is a valued asset it's still not secure. Bitcoin despite it's open source it's data integrity is highly maintained and can't be manipulated by greedy investors. Both gold and Bitcoin maintain their respective indentity.

As more and more people begin to use cryptocurrency, the support of institutions and governments should be of great help in accelerating the adoption of cryptocurrencies in mainstream sectors, and this feat is expected to enhance its value.
The unique attributes of Bitcoin enable it to surpass modern and ancient currency at the margin and provide a powerful impetus for its growing popularity. In particular, the effective combination of censorship resistance and absolute scarcity has always been a powerful driving force for wealthy investors to allocate part of their wealth to new asset classes.

Bitcoin uniqueness has surpassed mordern and ancient currency civilization but the aspect of it's resistance to censorship happen to be the main reason most government authority will keep fighting against the adoption of crypto currency most especially Bitcoin because bitcoin is posing a big treat on their ability to centralize the general transactions and database of it's citizens

[Karartma1]

I believe nobody's read The Bitcoin Standard by Saifedean Ammous here.
The book analyzes the historical context of BTC's emergence, the economic properties that allowed it to grow rapidly, and its possible economic, political, and social implications.

Ammous takes the reader through a fascinating journey along the history of technologies that have held monetary functions, the reasons for their adoption and subsequent loss of their monetary role, helping to understand what can really be a healthy form of money that can steer society towards peaceful modes of cooperation, with positive effects on capital accumulation, economic growth, and the stimulation of cultural and artistic creativity. Saifedean shows us that the highest peaks reached by mankind have been possible precisely in those societies with sound monetary regimes, while every monetary collapse has inevitably caused a social collapse as well.

With a perfectly predictable monetary policy that makes it an excellent store of value, functioning through decentralized software that creates a chain of immutable transactions, BTC allows users to transfer value in minutes across the globe without having to rely on central authorities. BTC's a form of digital gold with a built-in payment and transaction settlement system.

Do yourself a favor, buy and read the book

https://saifedean.com/thebitcoinstandard/

[Luke Briggs]

Bitcoin is digital gold for the following reasons:

• Bitcoin has the highest market value among digital currencies, and it is also the foundation of the digital currency market;
• The total amount is limited;
• The product of Internet development has no institution or state support behind it, and it is fair;
• Its value is slowly recognized by the public;
• Compared with gold, its authenticity identification, division, carrying and storage are more convenient;
• Programmable currency can meet the needs of charities and government agencies to solve corruption.

I believe that the value of Bitcoin will become higher and higher in the future.

[Melody kdl]

It seems unlikely that it will happen. Bitcoin has experienced two major crashes and countless smaller crashes, and is now back on the upward path. But as long as Bitcoin supporters continue to believe in Bitcoin, Bitcoin will be valuable; others can benefit from it even if they do not agree with this belief. Thanks to the beliefs of Bitcoin's true believers, Bitcoin will continue to be a good choice for investors.

[Haunebu]

Based on what I observed over time, BTC surpassed gold in several ways sometime back which became the talk of the town and helped spread awareness related to it and cryptocurrencies overall.

As an investment asset, BTC is way better than gold. On the other hand, as a currency, gold is still better than BTC.

[ROSERTY]

Bitcoin is an encrypted digital currency that relies on the Internet and blockchain technology to operate.The design goal of Bitcoin is to make it a decentralized and distributed open source peer-to-peer currency system, and it does not require the participation of trusted third parties during its operation. The price of Bitcoin can impact the value of gold and various legal currencies.

Bitcoin is a new type of digital gold, which is the natural development result of legal tender to digital currency.

[ven7net]

As far as I know, BTC and a number of other cryptocurrencies are now used mainly as a means of saving and increasing their money. That is, people buy BTC in order to sell it in the future and make more money. As for the gold standard and the use of BTC for payments around the world, it is too early to talk about it. The fact is that BTC as a gold standard must first be recognized by someone, and this requires legal grounds, without this word remain just words. As for the use of BTC for payment, there are also problems here, since at the moment these services, if any, are in small quantities. So I think BTC needs a little more time so that it could even more gain a foothold in our real world and then it will probably be able to become more than just a cryptocurrency.

[Ucy]

Guess I would say it's already a Global Currency (not the so called One World Currency) if anyone from any part of world can use or store Bitcoin. Doesn't necessarily have to be used by National governments for it to be seen as global currency. We could still have multiple global currencies as long as they are decentralized, safe and neutral currencies anyone can freely, easily and safely use without restrictions.

[The Sceptical Chymist]

I'm sorry, but that poorly-written article is nothing but a bunch of horse shit.  Gems like this make me want to slap the author:

Bitcoin is without a doubt, disrupting the gold standard, and it is gunning for the dollar itself next. Even since Bitcoin’s emergence, the dollar has done more and more to get away from its former peg to precious metals, and perhaps could itself turn digital in the days ahead.

Bitcoin isn't "disrupting the gold standard" because there is no gold standard anymore, which the article itself mentioned.  That phrase has a very specific meaning, which seems to have eluded whatever knuckle-dragger who wrote this piece.  Nor is bitcoin competing with the dollar, the peso, yen, or any fiat currency.  Why?  Because people actually spend fiat when they want to buy things, whereas only a minority of bitcoin holders spend spend it regularly (and they're smart not to, IMO). 

Even if fiat all over the world were to collapse all at once, people would probably start using precious metals again or, if they were to use crypto it wouldn't be bitcoin exclusively.  I bet you other coins would serve as currency just as much as bitcoin would, namely those coins with faster confirmation times and lower fees--and that's assuming the world was still functioning after all the fiat currencies collapsed.

Drivel.  That's what this article is, nothing more.

[CaptainCrapper]

At present wold, we will see in the near future all transactions made by digitalization so we have to wait someday already all of the counties one by one trying to give legality so near future Bitcoin will be the standard gold. If we invest in gold we cant expect more 2X money But if we invest in Bitcoin we will see 2X or 3X in the near future.

[palle11]

Bitcoin will become an increasingly popular choice for global savings. When a country’s currency is abandoned and replaced by Bitcoin, Bitcoin will transform from a store of value in that society into a generally accepted medium of exchange.

I do agree quite well that bitcoin will top in the range for instrument to saving in the future but that a country will totally abandon her local currency for bitcoin is still a big debate. To start with, I don't think El Salvador has stopped using her local currency and dollar so that also shows us how it will be difficult a thing to achieve, tradition is difficult to change and fiat is such.

[maisao1991]

This is for sure, currently the price of BTC is also a currency, and considering the current digital gold there are many people who store and consider BTC more precious than gold. Even I consider BTC more precious than gold, I can call it a diamond.

[bittraffic]

Early adopters I guess still includes China despite them rejecting BTC this time. I'm sure their authorities had confiscated a lot.

But how devastating could it be if a country loses its privatekey to thier BTC wallet?
I suppose military men guard and protect the vaults of the documents where they keep their private keys, probably multisig too. I think there will be lots of attempts. I'm just imagining what the future will be like.

[worle1bm]

Yes, at the moment Bitcoin is succeeding as a substitute for gold but much better. It is like google maps to paper maps. Although we cannot say it definitely yet, we will have to wait for the Bitcoin to surpass gold in market cap. At that point the defenders of gold will have to admit defeat. 

Apart from that, we will have to see if tomorrow it will be used effectively as a currency and as a unit of account.

It will take time for bitcoin to cross gold market cap as it is currently at 11 trillion dollars market cap and btc is at 846 billion dollars so we can say the prices need to cross $500k for that levels to reach.Above it all gold is giving negative returns as investors momentum has shifted towards other sources of investment and choices change with technology upgradation so is the case with bitcoin and gold.Bitcoin is far much better than gold in every aspect which all will soon realise and then we will see btc growing at rapid pace.