Why Bitcoin must surpass gold

[John Abraham]

There are two reasons. First, Bitcoin is a non-credit currency ten times stronger than gold. So unless Bitcoin is replaced. Otherwise he must surpass gold. Second, Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin. Combine these two points and Bitcoin is bound to surpass gold

I hope you did not forget that Bitcoin has a limited supply and cannot be increased. Bitcoin price will increase with scarcity. While Gold has unlimited supplies, and we don't know how much gold can be mined from the earth. Also, I have heard that some planet is fully gold. If humans can manage to go there and mine Gold (not impossible these days), you never know how much gold will be there. This is not even a debate. Whoever trusts and understands Bitcoin won't compare it with Gold. Whoever doesn't trust Bitcoin, you won't be able to make them understand what you are talking about. They will say it's a scam and gambling.

However, The primary purpose of Bitcoin is not to increase or decrease in price only. Bitcoin is for enhanced privacy and security and gives you to power to control your money. It's your own bank which cannot be stolen, and you can access it anywhere if you have internet. At the same time, Physical gold is just pieces of jewelry and can be stolen in various ways.

[BVeyron]

There are two reasons. First, Bitcoin is a non-credit currency ten times stronger than gold. So unless Bitcoin is replaced. Otherwise he must surpass gold. Second, Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin. Combine these two points and Bitcoin is bound to surpass gold

Gold has become an eternal value due to its high corrosion resistance, which makes gold 1)never disappearing metal 2)metal, which doesn't need specific storage conditions (the only problem of gold storage is to prevent it from being stolen by the others). For BTC and cryptocurrencies, the opposite is true: 1)BTC depends on mining facilities, which require energy for data processing, without energy supply even decentralised system is vulnerable to total destruction 2)the same for storage: it requires energy just to store data, just not to let data disappear, while the risks of cryptocurrencies to be stolen remains as high, as they are for gold. So, neither BTC nor any other digital currency has the potential to become the new gold. It doesn't mean that they are not valuable, though. Gold and digital assets are just totally different things, adopted by people for totally different tasks.

[demonica]

I don't get the non-credit currency you're talking about but if you're going to say that Bitcoin is ten times better than gold, why not list at least ten reasons why it is better, just to support your claim. Both Bitcoin and gold are very useful on their own and have their advantages that make them great. Although there's no need to compare the two, I think I'll disagree with op. Gold is a limited natural resource that makes it highly valuable. Even if Bitcoin has a limited supply, the fact that gold is a natural resource that isn't made by a man, it will always have a value that can be maintained for a long time.

But in the end, it will still depend on how you are going to use them. Bitcoin may be better for certain use cases while the other may be better for other use cases.

[ilovealtcoins]

Both are good and have different use cases. Does comparing them make any sense? Does it give you any benefit comparing them? Instead of comparing them, I'm still using both and am investing in both. Although gold is not very profitable, it gives me security, while bitcoin offers high returns but also high risk. So I use both to diversify my assets, both for safety and for good returns.

[vv181]

Bitcoin is built differently, and it does not have to be comparable with gold. Some people do love the analogy of Bitcoin as gold, but personally, it is inherently different and I tend to refrain from matching these two. Also, bitcoin does not have to surpass gold completely, since there is no competition.

To follow your point, golds are hardly a currency. Besides, gold was already here for ages, it is extremely minuscule compared to Bitcoin's existence. I don't think we have to discredit gold to popularize Bitcoin. And bitcoin continuity does not rely upon whether it will beat gold or not.

~However, it is different from Bitcoin, which is considered a relatively new form of currency compared to gold. ~

Well, yeah gold has been historically used as a kind of money. But what I mean is a currency in a sense it is efficiently used as a payment form. There was indeed a coin based on gold, a paper noted that is backed by gold. But as of now, it is hardly used as a currency. Compared to Bitcoin, that makes Bitcoin extremely conveniences. You did not have to weigh the gold or use it in a coin form, and the transaction is also divisible.

However, the value of Bitcoin has now surpassed that of gold, showcasing the remarkable nature of this cryptocurrency.

No, if you mean the value in terms of prices, it does not mean anything. Gold is way superior in terms of market capitalization compared to Bitcoin.

[ringgo96]

Between bitcoin and gold both have a very big difference, and now we can see that bitcoin must use the network to be able to access while gold does not require any devices related to the network, so the difference between the two is certainly very far and has different risks, although currently bitcoin cannot surpass gold but I believe for the future bitcoin will be more valuable than gold, Because we live in the age of technology, there will continue to be developments, especially Bitcoin whose popularity is increasingly global.

[Lorence.xD]

No need to be bias when it comes to these two. It already shown their potential by just reaching it's current value now. Of course the Bitcoin which is a digital currency also have pros and cons, as you stated in your post which is sided in Bitcoin and only mentioned about the pros of it. Bitcoin's volatility also can be considered as cons to some people and you can only use it via software. While for the gold, it could take decades for it to survive and have a low supply that's why it worth a lot.

[Velemir Sava]

At least another decade has to pass before bitcoin is reaching a considerable amount of adoption to be a gold level "asset".

That's right, In terms of a Store of Value, BTC serves as a more reliable long term store of value and judging by Bitcoin's underlying technology, the blockchain, has the potential to revolutionize various industries and reshape the financial system. This means that there is a transformative power of this blockchain technology that triggers the value of Bitcoin to exceed the value of gold.

[greek_hephaestus]

At least another decade has to pass before bitcoin is reaching a considerable amount of adoption to be a gold level "asset".

That's right, In terms of a Store of Value, BTC serves as a more reliable long term store of value and judging by Bitcoin's underlying technology, the blockchain, has the potential to revolutionize various industries and reshape the financial system. This means that there is a transformative power of this blockchain technology that triggers the value of Bitcoin to exceed the value of gold.

Both are good and both are having different usage and compare that you have any reason is there and compare both there is an any usage given and compare both i will use both and i invest in both ,gold not having profit and also they gave a security at the same time the bitcoin given lot of income and also lot of danger given anyway secure my property and  for more profit  i will use both.

[Mate2237]

There are two reasons. First, Bitcoin is a non-credit currency ten times stronger than gold. So unless Bitcoin is replaced. Otherwise he must surpass gold. Second, Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin. Combine these two points and Bitcoin is bound to surpass gold

Each of them has their strongness in their domain. Gold is strong in the physical dealing while bitcoin is strong in the digital dealing. Remember that you can use gold to buy bitcoin but you can use bitcoin to buy gold. Now the question is, how many bitcoins will you use to buy one gold? Gold is not a currency but bitcoin is currency. Gold is asset and bitcoin is also an asset. And when we come to the value of the two. Gold has value in is area and bitcoin as well. I think the color of bitcoin is gold.

[RajeshKarwa]

The idea that Bitcoin must surpass gold is subjective and depends on individual perspectives and beliefs. The comparison between Bitcoin and gold is often a topic of debate, and opinions on their respective merits may vary among individuals. It's important to note that gold has been regarded as a store of value for centuries and has established trust and recognition throughout history. Bitcoin, on the other hand, is a relatively new asset. In my belief,  Bitcoin has the potential to surpass gold as a store of value because :

1. Limited supply: Bitcoin has a finite supply, with a maximum cap of 21 million coins. This scarcity is built into the protocol and provides a potential advantage over gold, which can be mined indefinitely. The limited supply of Bitcoin may make it more resistant to inflationary pressures over time.

2. Divisibility and portability: Bitcoin is highly divisible, with each Bitcoin being divisible into 100 million units called satoshis. This divisibility allows for more efficient and precise transactions, especially in the digital realm. Bitcoin is also highly portable, as it can be transferred instantly across the internet without the need for physical transport, unlike gold.

3. Accessibility and inclusivity: Bitcoin operates on a decentralized network, allowing anyone with an internet connection to participate in the network and transact with Bitcoin. This accessibility potentially opens up financial opportunities for individuals who may not have had access to traditional financial systems or investment assets like gold.

4. Transparency and security: Bitcoin transactions are recorded on a public ledger called the blockchain, which provides transparency and immutability. While gold transactions can be tracked to some extent, the transparency and security features of Bitcoin's blockchain are often seen as superior, making it more resistant to fraud and manipulation.

5. Technological innovation: Bitcoin is built on blockchain technology, which has the potential to revolutionize various industries beyond finance. The underlying technology allows for programmable money, smart contracts, and decentralized applications (DApps). This innovation potential gives Bitcoin an edge over gold, which lacks similar technological capabilities.

Thanks !!

[lepbagong]

At least another decade has to pass before bitcoin is reaching a considerable amount of adoption to be a gold level "asset".

That's right, In terms of a Store of Value, BTC serves as a more reliable long term store of value and judging by Bitcoin's underlying technology, the blockchain, has the potential to revolutionize various industries and reshape the financial system. This means that there is a transformative power of this blockchain technology that triggers the value of Bitcoin to exceed the value of gold.

Both are good and both are having different usage and compare that you have any reason is there and compare both there is an any usage given and compare both i will use both and i invest in both ,gold not having profit and also they gave a security at the same time the bitcoin given lot of income and also lot of danger given anyway secure my property and  for more profit  i will use both.

I think something is good to do for both because they both provide benefits, even though in the end it requires a lot of funds to be able to get both.
Gold is very popular because in some developing countries it is still considered pride and accessories to equip themselves apart from investment, but since crypto has begun to move they also want to invest in crypto. is a choice and that's fine.

[Gallar]

There are two reasons. First, Bitcoin is a non-credit currency ten times stronger than gold. So unless Bitcoin is replaced. Otherwise he must surpass gold. Second, Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin. Combine these two points and Bitcoin is bound to surpass gold

If you compare bitcoin with gold, in my opinion, it is not quite right. Because these two assets have very striking differences and different systems. Because bitcoin is one of the most quality and decentralized crypto digital assets and while gold is one of the precious metals that is obtained from the ground. Indeed, both can be used as investment assets, but still, when compared it would be inaccurate. Because in my opinion, if you compare it, gold should be compared to other precious metals. Likewise with bitcoin, it will be more suitable when compared to other crypto assets, so it will be more in sync.
Because in essence the origin and how to get it are also different. Bitcoin is mined by solving blocks or verifying transactions that are used using sophisticated computer devices. Meanwhile, gold is obtained by digging underground where the presence of gold has been marked. And in terms of usability too, gold has more uses than bitcoin. So, in my opinion, gold or bitcoin are indeed superior, but in their respective paths and fields.

[jeraldskie11]

We all know that gold has previously been proven to be a safe investment with minimal volatility and a low risk of losing value. That is why I can't disagree with folks who prefer Gold over Bitcoin. In terms of ROI, I like Bitcoin because you can possibly make more money that you invested in a year. I understand that the higher the volatility, the greater the risk, but Bitcoin is not like altcoins. I believe Bitcoin will not return to zero. When there is a significant drop in price, I believe it will rise again to reach and break its ATH in the future.

[Flexystar]

Define what is non crediting asset or currency is? I am not sure if I ever heard something like this about any currency which carries high value with as much as five figures. Now that’s mismatch and secondly I’m really not into comparing the Bitcoin and Gold because that discussion has been done thousands of times in this forum and everywhere over the internet. The only output I ever read is they are incomparable and has got no similarities in terms of asset. It starts with one being physical and second one being digital. There are more in the list but it’s vague anyways.

[Hamza2424]

There are two reasons. First, Bitcoin is a non-credit currency ten times stronger than gold. So unless Bitcoin is replaced. Otherwise he must surpass gold. Second, Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin. Combine these two points and Bitcoin is bound to surpass gold

These are the things to say I know Bitcoin has great community support and it has the potential to be the market King and it has many unique characteristics. In front of the Gold Bitcoin is just a newborn baby don't get offended but it's the reality Gold is being used since ancient times, Sometimes as currency sometimes as a Store of value. To reach the Lagace of Gold Bitcoin needs time at least a decade in view because currently the adoption rate is too low + there is a great war ongoing against the economic system.

[justdimin]

Both are good and both are having different usage and compare that you have any reason is there and compare both there is an any usage given and compare both i will use both and i invest in both ,gold not having profit and also they gave a security at the same time the bitcoin given lot of income and also lot of danger given anyway secure my property and  for more profit  i will use both.

I think something is good to do for both because they both provide benefits, even though in the end it requires a lot of funds to be able to get both.
Gold is very popular because in some developing countries it is still considered pride and accessories to equip themselves apart from investment, but since crypto has begun to move they also want to invest in crypto. is a choice and that's fine.

Not just that but because fiat keeps losing value over course of many years, we are seeing a lot more people end up with a trouble when we are talking about a big amount of gold. If you invest into gold and your nations currency gets devalued, you kept your purchasing power still, because gold goes up as much as the devaluation of fiat most of the time, even if it doesn't happen quickly, it gets there with time.

Same could be considered for bitcoin as well, it does go up when inflation happens and drops when there are high rates, so the logic stands the same but the difference is that it's digital and can be spent as well. This is why it makes more sense to do it this way and invest into bitcoin, it's the better version of gold.

[thecodebear]

Agreed. Bitcoin is far better at being a currency than Gold ever was, by orders of magnitude. And while the world will continue to run off credit economies and fiat currencies, there is a huge space and need for a hard non-credit based currency like Bitcoin. And it is exceedingly unlikely there will be any challengers to Bitcoin in this space. Between using such a thing for store of value, savings, and spending, in addition to possible other future uses of Bitcoin (since it is programmable afterall, who knows what higher layer functions may grow on top of it), I'd say the applicable economy space of Bitcoin is at least several tens of trillions of dollars, versus the roughly 12 trillion dollars or whatever Gold is at now. I'd put the likely total value of Bitcoin at 5x Gold, so about 100x Bitcoin's current economic size. And that's assuming fiat national currencies still retain the dominant currency position and Bitcoin is just an alternative.

[abaeze]

There are two reasons. First, Bitcoin is a non-credit currency ten times stronger than gold. So unless Bitcoin is replaced. Otherwise he must surpass gold. Second, Bitcoin is close to being the ideal non-credit currency, and it is basically impossible to have another non-credit currency beyond Bitcoin. Combine these two points and Bitcoin is bound to surpass gold

Bitcoin is already more expensive than gold.So the discussion that Bitcoin goes beyond gold is called worthless.Bitcoin is non-credit so BTC will be ten times stronger then gold this thoughts is not true.To replace Bitcoin instead of gold needs to be strong in many aspects such as: Gold does not depend on software, it has its own value that will last a lifetime, in this case, Bitcoin has no existence of its own, which is completely dependent on computer networks and software.BTC can be stolen by malware but in gold propose it is quite impossible.Gold is legal everywhere in the world but Bitcoin is not legal everywhere in the world. Anything can be exchanged with gold but not yet possible with Bitcoin.The worst thing is that there is a possibility that bitcoin will be worthless during blackout but gold won't be worthless in blackout.There are some things that bitcoin is better than gold definitely.That is, at a certain time the profit made by investing in bitcoin will more then by investing in gold.Investing in BTC profit can be double or triple or even more but investment in gold is not same profit as in BTC.So risk with investment in BTC is always better option then gold.

[Blitzboy]

Both are good and both are having different usage and compare that you have any reason is there and compare both there is an any usage given and compare both i will use both and i invest in both ,gold not having profit and also they gave a security at the same time the bitcoin given lot of income and also lot of danger given anyway secure my property and  for more profit  i will use both.

I think something is good to do for both because they both provide benefits, even though in the end it requires a lot of funds to be able to get both.
Gold is very popular because in some developing countries it is still considered pride and accessories to equip themselves apart from investment, but since crypto has begun to move they also want to invest in crypto. is a choice and that's fine.

Not just that but because fiat keeps losing value over course of many years, we are seeing a lot more people end up with a trouble when we are talking about a big amount of gold. If you invest into gold and your nations currency gets devalued, you kept your purchasing power still, because gold goes up as much as the devaluation of fiat most of the time, even if it doesn't happen quickly, it gets there with time.

Same could be considered for bitcoin as well, it does go up when inflation happens and drops when there are high rates, so the logic stands the same but the difference is that it's digital and can be spent as well. This is why it makes more sense to do it this way and invest into bitcoin, it's the better version of gold.

Your point of view raises key issues regarding the place of gold and cryptocurrencies in a diverse portfolio. Gold and cryptocurrencies indeed have distinctive merits, yet, is it financially viable for an average investor to dive into both?

The potential devaluation of fiat currency, you mentioned, accentuates the benefits of gold and Bitcoin. Gold usually retains its worth due to its limited, tangible nature. Bitcoin, with a set supply and operating independently of banks, does too. However, shouldnt market instability and associated risks also be a concern?

Lastly, your provocative stance that Bitcoin outshines gold is worth noting. Bitcoin' digital essence and potential utility indeed separate it from gold. But, doesnt its intangibility and the uncertain regulatory environment pose a risk?