Bitcoin could become the gold of 21th century?

[Newlifebtc]

Basically Bitcoin already is the gold of the 21th century. Yes it is not accepted by many governments, but still it widely adopted. I don't think even that it is necessary that governments use it, since many (most) governments also don't accept gold payments and also don't own large amounts of it.

but this time of bitcoin many people in government is making use of Bitcoin for investment but they fall to come open and make it known that Bitcoin is good to invest with, but the government everybody is talking about Bitcoin is ready to adopt bitcoin but pride is what is holding them. Why many of them in government have cryptocurrency in their wallet

[sheenshane]

Both shouldn't comparable because they have pros and cons to each other and Bitcoin shouldn't become like gold in the future.
There are a lot of people who keep comparing them which we know they have different characteristics and both are opposite.

I don't think even that it is necessary that governments use it, since many (most) governments also don't accept gold payments and also don't own large amounts of it.

I didn't know if the government would not use gold as cash but for sure they have this as an asset.
Those who are afraid to the volatility price they may choose gold and those who are willing to risk the volatility price and have a financial freedom against governemnt will pick Bitcoin.

[D ltr]

I think digital gold is more appropriate, not physical gold which has form and value, besides gold and btc have very different characteristics.

[sklopan]

I don't think it will happen soon, at least. No matter how it sounds, but it takes a lot of time, and in general it is unlikely to happen, because for many gold is still more valuable, because it exists physically.

[Apocollapse]

I don't think it will happen soon, at least. No matter how it sounds, but it takes a lot of time, and in general it is unlikely to happen, because for many gold is still more valuable, because it exists physically.

Bitcoin can be used as a currency on 2010 when Laszlo bought 2 pizza with 10,000 Bitcoin.
Bitcoin has been accepted in many online marketplaces.
Bitcoin already have many investors from institutional and government.
Bitcoin has been accepted as a legal tender in 2 countries e.g. El Salvador and Central African Republic.
Bitcoin already prove it can survive for 13 years so far, unlike shitcoins who died after 1-2 years.

With those achievement of Bitcoin itself, how you can say it wouldn't happen soon and unlikely to happen? I guess you're come from where Bitcoin were banned in your country, that's why you didn't see so many update, development and adoption of Bitcoin.

Talking about how valuable an asset because it just have a physical appearance, you're didn't understand about Bitcoin at all.

[Smack That Ace]

Bitcoin has a limited amount and will not change over time -> Same as gold.

Bitcoin has a limited total supply of 21 million BTC but gold I don't think so. So far the total amount of gold that has been mined is 201,296 tons, an estimated more than 53,000 tons have not been mined but have been identified. And I believe that somewhere on earth there are still many places with gold that people have not yet found, they will continue to hunt until the definite source is exhausted. It can be said that gold does not have a specific total supply.

pic source: Kalo Gold

[amishmanish]

Bitcoin will surely become the new reserve for currency and finance institutions and they will create alternate coins, whose value be based on the reserve value of bitcoins used for hedging. In this way the whales will make money for each transaction done against their own currencies.
So in that way bitcoin will become what gold is today. The reserve currency.

[Clochaard]

Bitcoin being limited in number will one day become a scarce asset which means the value of bitcoin will manifold itself. Many people have already started referring to bitcoin as digital gold.

[coinsrider]

That is Wonderful.. I am a firm believer in crypto space and BTC but I am also a believer that Gold still shall have its own value especially during the time of war and uncertainty.

[danadc]

Some people prefer to buy BTC than gold, regardless of whether the price of bitcoin falls, the reason is because when bitcoin rises in price it can leave millions of profits if a good investment was made, the only problem is knowing when gold will rise it is a safe haven for the value of money, it is not bad, but bitcoin is more volatile, as well as it goes down, when it goes up it can go big.

[Stella Mese]

In my opinion bitcoin, even in the future, will exceed gold from its price value, because the supply of bitcoin is limited. only 21 million. if the amount of gold can be categorized, there is no limit, as long as many people are mining gold, let alone new
recently heard the news, that uganda found 31 million tons of gold.

[davis196]

There's no need for Bitcoin to replace gold. Both can coexist without a problem.
Scarcity isn't enough for an asset to become the best store of value. A bunch of random "developers" could easily create a centralized "scarce" altcoin with a fixe maximum supply in circulation. The problem is who is going to trust such centralized "scarce" altcoin.
Bitcoin had built enough trust in the last 12 years and it had proven to be the most secure cryptocurrency(assuming that you don't rely on centralized BTC wallets and crypto trading platforms). I can't be bothered with the question about BTC global dominance or Bitcoin becoming the "gold of the 21st century". I don't think that Bitcoin will ever going to reach complete global dominance, but that's OK.

[Mauser]

What if the US regulates crypto and declares Bitcoin a store of value? Basically, it doesn't have an ICO, there are no teams behind it, and there isn't an owner.

It would be awesome if the US decides to do that, but I don't think it's very realistic right now. The volatility in the bitcoin market is still too high for it to be a good store of value for everybody. Historically the Gold price has kept it's value for a long period of time, we haven't seen a price drop of 50% in a few months before with it. That is why it's so attractive for the older generation as an investment to store value. With the high volatility in bitcoins I would also not recommend my grandmother to invest in it. She is above 90 and at her age I advice against investing in stocks or cryptos, she still holds a bit of gold but the most she invest in is short term bonds. For the younger generation this completely different, the longer the investing horizon I would recommend to invest in cryptos rather than gold. The thing with gold is that it's good to store value, but you have no more upside potential. There is no chance that gold will rise 50% in the next 6 months, whereas with crypto currencies you can store your value long term as well and still have a chance to make a nice profit.

[justdimin]

It would be awesome if the US decides to do that, but I don't think it's very realistic right now. The volatility in the bitcoin market is still too high for it to be a good store of value for everybody. Historically the Gold price has kept it's value for a long period of time, we haven't seen a price drop of 50% in a few months before with it. That is why it's so attractive for the older generation as an investment to store value.

The USA will not do that for sure. They are the most liberal nation in the world so they should technically speaking be the one to do it, but they care about their USD a lot. And right now they are doing fine, even though domination of USD goes down, the value of it goes up, which means that there will be a reversal soon and people will start using that all over again.

I just do not see how it is even possible, think about how big the USA market is, and if it happened that would be awesome. But right now, even Coinbase is down like 80% in the stock market, it's just not a nation that is seeing crypto as the get out of jail free card situation, they won't do it.

[lucates]

If you use gold as a metaphor, it's cool, because we are all going through this bitcoin era, and we feel that too. And every Bitcoin lover believes its future is far beyond now. Gold has created its own place in history and now I hope Bitcoin is the creator of the future.

[tomos81]

Cryptocurrencies are in a booming position beyond imagination. Bitcoin is a currency that is valid in all countries of the world, the price of this currency will double its price in a few days at its current position. That's why I want to say that Crypto currency Considered as a reserve currency. Because everyone will reserve this currency increasing its price. After a few days this bitcoin is located with twice the price of hearing I think.