Could Bitcoin replace Gold in value?

[Cookdata]

Gold on the other hand have been around for a long time, from using it physically for transactions before the Internet came to existence, and now using it in a digital form, in this internet age. Mainly gold is now a safe haven for investors to store their money during war threats or in an incident of war, as is still an acceptable valued material for transaction all over the world.
 So am basically asking do you think Bitcoin could replace gold in this aspect? Like in being a safe haven for investors in times of war or been a fully acceptable valued material for transactions generally in the world?

Gold as safe haven and same Gold plunge during corona time and plunge like it's nothing. The thing about assets is that none of them is immune to crash, Bitcoin isn't exempted because speculation determine what happen to these assets. Look at what is happening around Greenland force acquisition with Donald Trump even threatened to imposed higb tarrrif on them but he changed his mind later after speaking Nato, Gold was among asset that made recovery instantly.

You see what traditional assets finance by the government, they have their time and Gold is doing well now because the government is financing it through media and political propaganda. It is what they use as reserve, so expect it to grow and all countries to be happy. The US has them in large quantities, as Donald Trump is fighting everyone and winning, expect manipulation and favoritism from the assets, by the time this government is done, expect a decline or correction.

Don't ever compare Bitcoin and Gold, they are not close, not by growth, not by structure, not by supply and demand and not by age.

[Hamza2424]

So am basically asking do you think Bitcoin could replace gold in this aspect? Like in being a safe haven for investors in times of war or been a fully acceptable valued material for transactions generally in the world?

Yup bitcoin is a good alternative, we can invest in gold and we can invest in btc as well, why only invest in btc or gold alone. Diversifying will increase the chances of securing funds for long term but if we will invest in gold our funds are safer then ever but if we will invest in gold our funds will be digital or in digital gold form.

But Bro both have its own pros and cons, and I find both the best, now I don't think bitcoin will cross gold in terms of market cap ever, because the cap of gold it too big for the btc to cover at the current adoption. But sooner it will be there and once it is there, holders will have made huge profits.

[Omj1014]

With the direction that the world is heading its really possible, the world is going to the era where everything is strictly digital.
Gold as we know it is one of the top natural resources that can change the even the direction or economy of a nation, but in this era where we are heading that natural things are going obsolete and the digital and the artificial are becoming dominant by the day, Bitcoin stands as the top digital currency and it's also an asset, embraced by big co-operations and nations so you do math it's just a matter of time.

[Smartprofit]

Will Bitcoin's market capitalization ever match that of gold? Yes, in my opinion, it will definitely happen. However, this won't happen until central banks deliberately start accumulating Bitcoin in their reserves. 🙋

We see that central banks currently prefer to accumulate gold rather than Bitcoin. Strictly speaking, they are not allowed to create Bitcoin reserves (for this to happen, the Basel Committee would have to amend the rules governing central banks accordingly). Moreover, central banks are very conservative institutions.

As for Bitcoin, it is a relatively new asset. It has not yet stood the test of time. Moreover, Bitcoin was originally created as an alternative to the modern banking system. This does not make it popular with bankers. 🙂 I believe that in the future, central banks will make Bitcoin an integral part of their reserves. At that point, Bitcoin's market capitalization will equal that of gold. However, this will not happen anytime soon.  After 2035. Not earlier.

[Asuspawer09]

I think that already happened since Bitcoin is already a safe haven for value and usage, We just doesn't really know how the value of Bitcoin or gold is going to react on the war or any any other things, it might increase its market price of vise versa we just doesn't know last time that I remember it drop its market price, but are we sure the gold can store value overtime when war is going to ignite around the globe? what is going to matter the most is just going to be survival. Most of the assets we are not sure if it can hold value in terms of the actual war that is going on.

In my opinion, Bitcoin and gold have similarities. Can Bitcoin replace gold? Probably not, but they both can hold value, but this two are just two completely different things. Bitcoin just doesn't have any kind of tangible material like gold, which is going to set apart gold from Bitcoin, that is fully digital and doesnt have some kind of tangible form. It can replace gold in some factors just wasn't fully going to happen. Bitcoin is going to be popular and probably gold as well.

[Nwada001]

So am basically asking do you think Bitcoin could replace gold in this aspect? Like in being a safe haven for investors in times of war or been a fully acceptable valued material for transactions generally in the world?

In terms of serious war between countries, gold will always be a better option since it's not easily affected by such news. Bitcoin will also remain relevant, but in terms of value, its value will drop down in time like that, just like other assets, stocks, etc., will get affected, but during war, to escape sanctions and operate the country freely, Bitcoin will always be considered the top. You can't carry gold around easily, but you can always transact with Bitcoin without stress.

[Livingleged]

Bitcoin a surprising, fast growing crypto currency and actually the first crypto currency created, for the main purpose of decentralization shifting from digital Fiat to a safe transaction system, using blockchain technology. Bitcoin growth surprise a lot of people, increasing in value and usage in the pass years. Amd now the government of some countries have started accepting Bitcoin, and a lot of big companies are buying a lot.
             Gold on the other hand have been around for a long time, from using it physically for transactions before the Internet came to existence, and now using it in a digital form, in this internet age. Mainly gold is now a safe haven for investors to store their money during war threats or in an incident of war, as is still an acceptable valued material for transaction all over the world.
 So am basically asking do you think Bitcoin could replace gold in this aspect? Like in being a safe haven for investors in times of war or been a fully acceptable valued material for transactions generally in the world?

In my opinion I still feel the distinctness between bitcoin and gold is the fact that gold is a physical asset which the value are digitally traded In this modern  world now,  while bitcoin was never a physical asset as such one cannot replace one they are two different entities with Clear distinguishing properties.

Bitcoin is decentralized and proofing to be the safest kind of digital asset when it comes to holding value over a long period of time. Finally i can say it may not replace gold but might gain some share from gold investors attention has already been given to bitcoin already and people always move with the thrend.

[uchegod-21]

Anytime I see people write or talk about bitcoin replacing either gold or fiat, it gives me this feeling that Bitcoin cannot exist side by side with the already existing traditional system except one of them is eliminated for the other to stay. That is not a good assumption.

Gold has been in existence for years, infact, it's greatest strength is "trust and stability " which it has shown over the years. It will be difficult for it to get easily replaced like that. Gold remains a traditional safe haven and those who find it appealing will go for it.

Bitcoin on the other hand has its own weakness as a safe haven and that weakness is volatility.  Beyond this weakness, it can be a solution where there are lots of restrictions and controls regarding the usage of gold in times of emergencies.

My point is, both can coexist and complement each other, enough of the talks about replacements

[Kelvinid]

Bitcoin and gold are two different assets and we can't compare them because they differ in form and advantages. While gold offers stability and tangibility, bitcoin on the other hand offers divisibility, portability and transparency.

But if ask if bitcoin can replace gold in value? I don't think bitcoin is above or beyond the price of gold. Both are valuable and are hedge against inflation, so these two can co-exist with each other without any comparison as what gold has, bitcoin also has. 

But on the part of gold as a safe haven, I guess bitcoin cannot compete on that as long as it stays volatile in the market.

[Josefjix]

Like in being a safe haven for investors in times of war or been a fully acceptable valued material for transactions generally in the world?

In terms of war, Yes. Have you forgotten when Ukrainian as well as Russian used Bitcoin to make transactions for foods items and other materials during the war time? can't you remember?
Can you remember also when Nigerians contributed Bitcoin to support for foods and drinks during the #EndSars protest that lasted for a some couple of days? Can you remember Bitcoin used for charity contributions during corona virus outbreak?

If you can remember any of these, then Bitcoin can be used by investors during the time of war.

[nakamura12]

I don't think it will replace gold in value because gold isn't just an opportunity to earn money but also use as jewelry and such while Bitcoin and also have it's own advantages. In short, it cannot replace gold and gold cannot replace Bitcoin plus both are different kind of assets that people can invest. I can say that bitcoin can be solve something that Bitcoin alone can solve and gold can solve something that bitcoin can't since both have their own uses.

[Stablexcoin]

Above others is the fact that Bitcoin is a good store of value and moves simultaneously according to news and other technical factors. It has proved it's credibility over the years with consistent improvements removing doubts of a rug pull or other financial rampage.

It is now preferable in use for international transactions without any form of bank restrictions of query that could lead to seizure. It is very fast and reliable unlike the banks that takes days to process international transactions which makes it even more better than the banks.

[MAAManda]

Your gold assets easily confiscated by the state and difficult how to stop the bad or corrupt government but with bitcoin is privacy and someone else can't detect with how many bitcoin assets holding in your wallet.

That's where Bitcoin (BTC) has an advantage over physical gold. I don't need to explain this further, as I've already provided simple overview in my previous post. With the current world condition, the possibility of a world war is increasing, we can't deny that, so it would be better for us to prepare an umbrella before it rains.

I got update yesterday about US almost monopoly with many gold having right now and make many war issues to get chance selling gold at higher price.

Really? I didn't hear about that, can you provide a link or reference to that news?

[Bluedrem]

Gold is the best as a physical asset. And Bitcoin is the best as a digital asset. Gold is given legitimacy by the government worldwide because the gold miners can control it. In that case, if everyone is aware of the proper use of Bitcoin, then Bitcoin can be more than gold because its supply is fixed and it is not controlled by any person. That is, if you have Bitcoin, you are its controller. But the government has control over gold. Considering these aspects, although gold is the best as a physical asset, Bitcoin is better than gold in terms of digital assets. In this case, I would say Bitcoin is several thousand times better than gold.

[livingfree]

It is now preferable in use for international transactions without any form of bank restrictions of query that could lead to seizure. It is very fast and reliable unlike the banks that takes days to process international transactions which makes it even more better than the banks.

That's because gold can't do that. While setups and agreement can be done based on the preference of both parties.

But this is where Bitcoin has got that advantage. Gold is stagnant to its purpose which is a store of value but Bitcoin covers it all, an asset, a payment processor, a currency in itself.

But on the part of gold as a safe haven, I guess bitcoin cannot compete on that as long as it stays volatile in the market.

It will take time if the goal is to kick out gold for that purpose. But the better idea is to realize that these two will coexist for the same purpose.

[BitGoba]

Many people wrongly think that gold has value because of its industrial use or for jewelry, but they don’t realize that today’s price of gold comes from its use as money.If gold were not used as money, and people didn’t buy it to store value,buy gold just for jewelry or industry its price would drop by about 98%.

Here we should ask what is money? Once we understand what money is.should ask how do we know which form of money is better?. When we grasp that, we get the answer to this topic

[Antikyc_]

It could replace it, but probably not anytime soon. They are both scarce and portable assets. The main advantage that gold has over bitcoin is thousands of years of trust and real-world use which Bitcoin lacks. Whether we like it or not, it is still treated as high-risk and beta asset (by most people at least as of now). Bitcoin will probably complement gold and not replace it fully.

[Z-tight]

Many people wrongly think that gold has value because of its industrial use or for jewelry, but they don’t realize that today’s price of gold comes from its use as money.If gold were not used as money, and people didn’t buy it to store value,buy gold just for jewelry or industry its price would drop by about 98%.

I am having a hard time understanding your analysis here and i think it is wrong. First, gold is not actively used as 'money' today, in the manner in which we use fiat for groceries and for spending daily. There are a handful of things that give gold its value: scarcity, durability, the fact that it is a safe haven asset, its history, etc. i.e. most countries around the world have gold as a reserve asset, things like these is what gives it its value.

However, to answer op, i am not so sure if BTC can replace gold as a safe haven asset. Investors already trust gold in that regard, that is why funds move out of BTC and other assets, into gold and silver when there is serious geopolotical tension, like we have in the world right now. BTC in itself will have to be less volatile for a long time and retain its value in harsh conditions for people to trust it as a safe haven asset.

[Patikno]

Every era has its era, and now it is the digital era. People in the past, or generations who have been familiar with gold for a long time, would be more inclined to save their money during a crisis, as you mentioned, but for the current generation, especially those who are familiar with Bitcoin, they would be more inclined to save their money in Bitcoin. So, I think some people still rely on gold as a store of value, and others are starting to rely on Bitcoin. I also think Bitcoin could replace gold, as the OP suggests, but it might take a while, because many people still don't see Bitcoin potential as a store of value. It is all just a matter of time; I am sure time will change everything, and the current digital era allows us to see where this is headed, and the answer is Bitcoin.

[Alone055]

Bitcoin a surprising, fast growing crypto currency and actually the first crypto currency created, for the main purpose of decentralization shifting from digital Fiat to a safe transaction system, using blockchain technology. Bitcoin growth surprise a lot of people, increasing in value and usage in the pass years. Amd now the government of some countries have started accepting Bitcoin, and a lot of big companies are buying a lot.
             Gold on the other hand have been around for a long time, from using it physically for transactions before the Internet came to existence, and now using it in a digital form, in this internet age. Mainly gold is now a safe haven for investors to store their money during war threats or in an incident of war, as is still an acceptable valued material for transaction all over the world.
 So am basically asking do you think Bitcoin could replace gold in this aspect? Like in being a safe haven for investors in times of war or been a fully acceptable valued material for transactions generally in the world?

To be totally honest, I don't think Bitcoin could be as safe as Gold when it comes to long-term investments and at times of wars and stuff which happen on a large scale and affect almost all the financial markets, because Bitcoin is more fragile in a way than Gold when it comes to their prices getting affected by economic problems and such, so if someone actually wants to only keep their money safe from bad economic times and inflation, etc. Then they should definitely go with Gold. However, if someone also wants to have the possibility of making their money grow quicker over time, they can go with Bitcoin.

We all know that Bitcoin has the ability to go very high in value over time, because we have seen this happening multiple times throughout the course of its existence, but we also know that its volatility works both ways, so if it goes up, it goes down as well, and things such as war, bad news, and FUD often make retail investors panic and sell and that makes the price go down.

So, the moral is, that Gold provides more safety and stability, while Bitcoin is good for higher profits with higher risks in the long run.