Bitcoin, a digital Gold? I see it as inappropriate!

[EarnOnVictor]

Bitcoin has done what no asset in history has ever done and it did this in a very short time. It has always proven to be an entirely different structure for different plans and purposes, which makes it a raw and unique asset. By virtue, everything attributed to it must be new/raw, so people should stop making Bitcoin look like an imitation of Gold by calling it "digital Gold. The word "Gold" shouldn't be associated for any reason.

Besides, Gold already has physical and digital forms, so why still call Bitcoin physical Gold? It's off! No better place to change the narrative than Bitcointalk.

[Charles-Tim]

Other assets have gold characteristics in relation to this discussion. I mean assets like silver and the likes. But the reason some people called bitcoin a digital gold is because there is no asset adopted like gold. Gold is the number one asset in the world. As gold has the highest adoption, it means more people prefer to invest in gold and also it means those people that invested in it (gold) know what it (gold) is which is the reason they are buying it (gold). So these people can easily know that bitcoin is something that its price will increase if more people are buying it as it has limited supply which might encourage some people to learn about what bitcoin is and be encouraged to buy bitcoin. People look more into adoption perspectives and called bitcoin a digital gold. Not gold exactly, but something that is digital and has appreciative value.

[Wiwo]

Besides, Gold already has physical and digital forms, so why still call Bitcoin physical Gold? It's off! No better place to change the narrative than Bitcointalk.

On multiple occasions, I have tried to search the reason bitcoin is call digital gold, but none give me a straight forward results so I am left with the understanding that bitcoin is call digital gold in theory based on it double features which gold  the only asset in bitcoin rank doesn't have,

Gold - precious assets none transferable via the Internet p2p
Bitcoin - precious assets digital and bitcoin can be transferred per to per via the Internet without physical intermediary.
Bitcoin also call internet money in most discussions forum and communities.

[hero_the_bossman]

Other assets have gold characteristics in relation to this discussion. I mean assets like silver and the likes. But the reason some people called bitcoin a digital gold is because there is no asset adopted like gold. Gold is the number one asset in the world. As gold has the highest adoption, it means more people prefer to invest in it and also it means those people that invested in it know what it (gold) is which is the reason they are buying it. So these people can easily know that bitcoin is something that its price will increase if more people are buying it as it has limited supply which might encourage some people to learn about what bitcoin is and be encouraged to buy bitcoin. People look more into adoption perspectives.

Gold is reliable in the world, reputed by the govs. Also - it's not that scarce, but the projection towards BTC as it's also scarce is there.
Both of them derive their value from that metric, in a way.
And in the future - there will be more cases for people to use BTC, in my opinion. Because for now - it's used mainly as a store of value by all the parties, small and big.

[Charles-Tim]

Bitcoin - precious assets digital a d can be transferred per to per via the Internet without physical intermediary.
Bitcoin

If it was not the regulatory body that stopped the production of Casascius bitcoin, there would have been more of it today but the government are seeing it as threat to the existing fiat but I do not think. As of today, there are still Casascius bitcoin but they are not many as it ought to have been if there was no regulatory hindrance. Also there are other collectibles but which I do not like as they all require trust while bitcoin supposed to be trustless.

[FortuneFollower]

Bitcoin - precious assets digital a d can be transferred per to per via the Internet without physical intermediary.
Bitcoin

If it was not the regulatory body that stopped the production of Casascius bitcoin, there would have been more of it today but the government are seeing it as threat to the existing fiat but I do not think. As of today, there are still Casascius bitcoin but they are not many as it ought to have been if there was no regulatory hindrance. Also there are other collectibles but which I do not like as they all require trust while bitcoin supposed to be trustless.

Now they see it as something they would like to acquire for themselves.
We live in truly interesting times.

[btcltcdigger]

Bitcoin has done what no asset in history has ever done and it did this in a very short time. It has always proven to be an entirely different structure for different plans and purposes, which makes it a raw and unique asset. By virtue, everything attributed to it must be new/raw, so people should stop making Bitcoin look like an imitation of Gold by calling it "digital Gold. The word "Gold" shouldn't be associated for any reason.

Besides, Gold already has physical and digital forms, so why still call Bitcoin physical Gold? It's off! No better place to change the narrative than Bitcointalk.

We should fight back and start calling gold "physical Bitcoin", haha. But i agree, bitcoin is something completely different and out of the league.
There might be more breakthroughs like bitcoin was in the future tho. We shall wait and see

[Jawhead999]

Gold has no digital forms, it's just an IOU or fake gold that you see on your screen, while you not actually really own it.

The same applies to Bitcoin, Bitcoin ETF or in other networks aren't real Bitcoin.

Of course both of them are different thing and technically they have very different utility. Bitcoin is a currency, while gold is a store of value. So yeah, it's inappropriate, but the public perception has treat Bitcoin is a digital gold because they believe in popular people words.

[maydna]

Bitcoin is bitcoin and people should understand that. But it is no problem if some people called Bitcoin is a digital gold as it is like gold as the investment. We can not force them to follow as what we say because for them, Bitcoin is like a gold which can be used for their investment. So lets them called Bitcoin whatever they wants because we know what Bitcoin is.

[livingfree]

There is no problem calling it digital gold, digital oil, digital data, digital asset, store of value or whatnot.

so why still call Bitcoin physical Gold?

I think you have a typo there. That's really odd when people call gold as physical Bitcoin but Bitcoin as digital gold. But they're free to say that either way.  

[john_egbert]

There is no problem calling it digital gold, digital oil, digital data, digital asset, store of value or whatnot.

so why still call Bitcoin physical Gold?

I think you have a typo there. That's really odd when people call gold as physical Bitcoin but Bitcoin as digital gold. But they're free to say that either way.  

BTC would still be Bitcoin.
And ETH takes the place of the digital oil, in my opinion 

[Hatchy]

Besides, Gold already has physical and digital forms, so why still call Bitcoin physical Gold? It's off! No better place to change the narrative than Bitcointalk.

It's a very simple reason mate. Gold is a precious stone and most investors who owns it as an asset do hodl them dear. Same as related to Bitcoin being called a digital Gold. Bitcoin is the most precious digital currency in the world, everyone who bought btc in 2010 probably holds it just like gold so what do you expect? Imagine you held a reasonable amount of Bitcoin around that same period and now as the bull has arrived, would you not hold it like gold? It's more like a metaphor. There nothing to be confused about.

[avp2306]

Bitcoin has done what no asset in history has ever done and it did this in a very short time. It has always proven to be an entirely different structure for different plans and purposes, which makes it a raw and unique asset. By virtue, everything attributed to it must be new/raw, so people should stop making Bitcoin look like an imitation of Gold by calling it "digital Gold. The word "Gold" shouldn't be associated for any reason.

Besides, Gold already has physical and digital forms, so why still call Bitcoin physical Gold? It's off! No better place to change the narrative than Bitcointalk.

Its just called as that and I don't think there's something to get bothered with what other people call it. Much better focus on what you are currently doing and don't pay much attention on other narratives of people since you are just entertaining some unwanted thought's made by other people.

If they call it as digital gold then its fine since there are some people which is over exaggerated on things and call Bitcoins in different names. So let them think about that and continue to believe what you want on Bitcoin.

Also maybe people just value Bitcoin much that's why they made that statement.

[john_egbert]

Besides, Gold already has physical and digital forms, so why still call Bitcoin physical Gold? It's off! No better place to change the narrative than Bitcointalk.

It's a very simple reason mate. Gold is a precious stone and most investors who owns it as an asset do hodl them dear. Same as related to Bitcoin being called a digital Gold. Bitcoin is the most precious digital currency in the world, everyone who bought btc in 2010 probably holds it just like gold so what do you expect? Imagine you held a reasonable amount of Bitcoin around that same period and now as the bull has arrived, would you not hold it like gold? It's more like a metaphor. There nothing to be confused about.

It's a good one at that.
It can be hated or not, but the similarities are there in some regards - just as ETH is called digital oil sometimes or LTC - a digital silver.

[notocactus]

By virtue, everything attributed to it must be new/raw, so people should stop making Bitcoin look like an imitation of Gold by calling it "digital Gold. The word "Gold" shouldn't be associated for any reason.

Bitcoin and Gold belong to different asset classes by their specifications: physical and digital, just basically in their forms. Other things make Bitcoin and Gold completely different and compare them with each other is too forcedly.

You can not change how people consider Bitcoin as Digital Gold, it's how they would like to make their comparison.

Anyway, if you want comparison, check.

• The bullish case for Bitcoin. This book has comparison between Bitcoin and gold.

[moneystery]

people started calling bitcoin as digital gold maybe because bitcoin can be mined and traded like gold like before. but i agree that we should avoid calling bitcoin "digital gold" because it is not relevant, even though there are some parts that make it look like "gold", but bitcoin is bitcoin and if someone understands that then they will be able to understand more easily that bitcoin is a digital currency compared to digital gold. we should encourage people to call bitcoin as a digital currency compared to regular assets like gold because from the beginning that is the purpose of bitcoin, not an asset.

[Lucius]

We can't stop people from defining Bitcoin as they see fit - even though Bitcoin has its own very clear definition in the white paper written by Satoshi. Maybe because of the fact that BTC is mined (of course digitally) people give the attribute "digital gold" to something that really shouldn't be called that.

I don't see that as a big problem, because the much bigger problem is that we are moving further and further away from Bitcoin being a decentralized cryptocurrency, to the point where some central banks may start using BTC in their strategic reserves. We can't prevent this in any way, but if it happens, I think the perception of BTC will change even more, and not in a positive way.

[Minor Miner]

Bitcoin is bitcoin and people should understand that. But it is no problem if some people called Bitcoin is a digital gold as it is like gold as the investment. We can not force them to follow as what we say because for them, Bitcoin is like a gold which can be used for their investment. So lets them called Bitcoin whatever they wants because we know what Bitcoin is.

Just like in life, sometimes our parents or close friends also call us by other intimate names. But in the end, we are who we are and nothing can change that.

In thousands of years of world development, gold is considered the most valuable asset in the world, symbolizing wealth, power and loved by all mankind for thousands of years. In other words, gold is considered the king of assets in the world. And people call bitcoin digital gold because they think bitcoin is as great as gold, bitcoin should be recognized and treated by humanity the way they treat gold.
What we should care about is how people treat it, people's need for it, it doesn't matter what they call it because they can't change the fact that it's bitcoin.

[Patikno]

Bitcoin has done what no asset in history has ever done and it did this in a very short time. It has always proven to be an entirely different structure for different plans and purposes, which makes it a raw and unique asset. By virtue, everything attributed to it must be new/raw, so people should stop making Bitcoin look like an imitation of Gold by calling it "digital Gold. The word "Gold" shouldn't be associated for any reason.

Besides, Gold already has physical and digital forms, so why still call Bitcoin physical Gold? It's off! No better place to change the narrative than Bitcointalk.

We cannot take the Gold narrative which is surrounding Bitcoin semantically, but let's think about it pragmatically. The easiest way of how people have tried to build the hype and spread the news about Bitcoin and how valuable it would become is by trying to explain it to people who barely know about it with analogy to the closest valuable thing that we all know, which is Gold. Although, I understand that it could be hyperbolic somehow. The only thing that Bitcoin could serve as Digital Gold is its store of value, besides that, ofcourse they are nothing alike, I found one comment that could explain it very well.

Moreover, the Digital Gold Narrative have became a characteristic of Bitcoin and stick to people's head is because how mainstream medias try to frame it on their news platform for the sake of having interesting news.

[Odusko]

There are some words I don't use in my recent comments and in my discussions such as  Bitcoin as digital gold this is because Bitcoin can't be compatible with gold in term of their nature, Bitcoin canceal a lot of possibilities that gold does not have such as banking the unbanked and the rest of the other special features that make Bitcoin digital more than gold and this features have earned Bitcoin such title of digital asset unlike gold that is a traditional assets, some other things that make Bitcoin a digital asset is the timing that it was evoluted, Bitcoin was discovered in the digital age year 2000s which is consider to be the time of digital revolutions.