path of bitcoin vs gold

[Agbamoni]

it makes me wonder if is this the dead end? will bitcoin continue to be like gold wherein it was once used as a currency but eventually became just a store of value? or will bitcoin later on go back to its original purpose?

Not a dead end for me, because people have to stop making huge transactions that demand the use of Bitcoin, or Bitcoin will not be used for payments anymore. You and I know that it is impossible. It is understandable for God because paper money came to replace gold due to the reason that Gold is limited to be mined every day, while paper money can be printed every day. In a situation where all the holders of Bitcoin are investors holding for the long term, at some point, no Bitcoin will be used for transactions, but it's just an assumption because it's impossible that everyone will turn long-term holders overnight.

[Richbased]

will bitcoin continue to be like gold wherein it was once used as a currency but eventually became just a store of value? or will bitcoin later on go back to its original purpose?

Bitcoin will not lose its original nature of being used as a decentralized medium of performing peer-to-peer transactions neither will it lose being used as a store of value. This is the reason why i am of the opinion that bitcoin is not a digital gold because its potentiality supersedes that of gold. If we say that bitcoin is a digital gold, it sounds like we are giving gold more credit and identifying it as the super asset to bitcoin. We should understand that the creator of bitcoin never had the intention of bitcoin becoming a store of value, Satoshi primarily created bitcoin to be an alternative to fiat after a lot of crisis emanated from monetary transactions. However, the value of bitcoin has grown over the years and people now hold it as a store of value for future transactions. You see where i underlined, it means that a time will still come when bitcoin will majorly be used for transactions but it doesn't mean that it won't still stand as a store of value, just that the interest to hold might reduce due to low volatility.

[_act_]

it makes me wonder if is this the dead end? will bitcoin continue to be like gold wherein it was once used as a currency but eventually became just a store of value? or will bitcoin later on go back to its original purpose?

Many people have given you their opinions and they are correct because bitcoin remain to be a store of value till today, there has been nothing that changed and nothing will change it in the future than bitcoin price worth to continue increasing because of how scarce bitcoin would be.

It is good to know that bitcoin has been a store of value since it was created as the price has ever been increasing. Bitcoin is a medium of exchange.

[sleepfirefly]

it makes me wonder if is this the dead end? will bitcoin continue to be like gold wherein it was once used as a currency but eventually became just a store of value? or will bitcoin later on go back to its original purpose?

Not a dead end for me, because people have to stop making huge transactions that demand the use of Bitcoin, or Bitcoin will not be used for payments anymore. You and I know that it is impossible. It is understandable for God because paper money came to replace gold due to the reason that Gold is limited to be mined every day, while paper money can be printed every day. In a situation where all the holders of Bitcoin are investors holding for the long term, at some point, no Bitcoin will be used for transactions, but it's just an assumption because it's impossible that everyone will turn long-term holders overnight.

honestly one of the advantages of bitcoin over gold is that it has an actual purpose beyond its value. it can be used as a mode of payment to make the transaction more secure and private. even if bitcoin’s value doesn’t exceed our expectations anymore, i believe people will still see the value of bitcoin in terms of transactions.

[Lida93]

If we compare gold and Bitcoin at present, then we will definitely say that Bitcoin is much better than gold and will be able to surpass gold very soon. Gold has been in the market since ancient times and Bitcoin has been in the market for a few days, but during this time, the price of Bitcoin has increased a lot and the acceptability of Bitcoin is increasing in the whole world. ...

I don't fancy it having to compare gold and bitcoin because they're a different asset class in terms of their features and relevance except that they're both cut into the  world of finance.
Part of what has really accelerated the value of bitcoin in the short time it has existed compared to long ancient time of gold is bitcoin's limited supply, and the more it's mined the scarcity leads to higher value with demand. For it age, bitcoin is better alternative to invest on as potential is still huge, but if an investor can afford investing into both assets then it's a plus for them.

[YOSHIE]

it makes me wonder if is this the dead end? will bitcoin continue to be like gold wherein it was once used as a currency but eventually became just a store of value? or will bitcoin later on go back to its original purpose?

As long as the internet is normal, electricity is normal and the network is normal, you are free to do anything with Bitcoin, no one denies that, but remember when the things I mentioned above stop everything falls apart, Bitcoin is currently used as a basis for investment or hedging against paper currency, but all of this can be stopped if the network crashes.

Gold, it is known from century to century, has been used as a promising exchange rate for goods, gold has been used thousands of years ago for trade, because it is valued as a precious metal, Bitcoin was created in 2009 and currently looks normal without any turmoil, you probably know what is meant by the path between Bitcoin and gold.

[MarjorieZimmermanGinger]

it makes me wonder if is this the dead end? will bitcoin continue to be like gold wherein it was once used as a currency but eventually became just a store of value? or will bitcoin later on go back to its original purpose?

Bitcoin differs from gold, starting with its lack of physical form and acceptance by most governments. We may know how Bitcoin has developed so far with no government support required directly. Gold has existed since ancient times and was once a means of barter when people purchased goods, while Bitcoin remains an investment asset because most countries prohibit it as legal tender. El Salvador which once accepted Bitcoin as legal tender, is no longer considering it due to declining public adoption, technical issues and IMF pressure regarding loans, although the use of Bitcoin is still legal there on a voluntary basis. This shows a different perspective on how Bitcoin will become merely an investment asset capable of storing value, rather than being used as a legal tender.

[Hamza2424]

it makes me wonder if is this the dead end? will bitcoin continue to be like gold wherein it was once used as a currency but eventually became just a store of value? or will bitcoin later on go back to its original purpose?

Hmm, this is a thoughtful comparison you have laid here, but bro, there is a limit to it too. Like gold became a store of value because of the inconvenience, like you said, but bitcoin had no inconveniences, it can be moved easily across borders, can be divided into any amount, easily carried, unlike gold. That's why Gold became the reserve for currencies, people use it to store their money for the long term because it won't lose value due to inflation.

But now people are only comparing one characteristic of btc with gold, it can't be gold entirely but only in one or two characteristics. And bro you are right about the last thing you said about ETF and institutions. Bitcoin is going through the same phase, I think it has never left its original purpose that we say it has lost it. I think it is going on two tracks if you see it from another way.

[Faisal2202]

it makes me wonder if is this the dead end? will bitcoin continue to be like gold wherein it was once used as a currency but eventually became just a store of value? or will bitcoin later on go back to its original purpose?

No, Bitcoin will not be like gold because it is digital and it has a lot of things different than gold, like the supply and the shape. If we compare it deeply, the same features are fewer than the features which are different. I mean we can't even take gold worth $1 billion to another city without proper security, but with Bitcoin we can memorize a seed phrase. I won't recommend that, but imagine someone with a seed phrase in their mind or in their pocket could be taking $1 billion to another place while no one would even know.

Although holding $1B in one place is also not advisable as it is highly risky. If the wallet is compromised, the funds will be too. Better to keep funds in different places. Speaking about Bitcoin's original purpose, I think Satoshi would have said, I created it as a payment method, as a currency, but I think it outperformed his expectations too haha.

[Ryu_Ar1]

it makes me wonder if is this the dead end? will bitcoin continue to be like gold wherein it was once used as a currency but eventually became just a store of value? or will bitcoin later on go back to its original purpose?

I think it's just a development of the goal, not that it erodes to eliminate the original goal, but when there is traction to make the development and progress better, then why not.
We are always based on profit and anything will be done to get these benefits so that making this a hedge (making bitcoin an investment) is fine to do, it does not mean that we are trying to eliminate the initial goal because of course transactions will still continue to occur, it's just that there are other options besides making bitcoin a tool for transactions.

Another possibility can occur when there are regulations that can actually make this a means of transaction in every country but this will be very difficult because the government is still trying to curb this so when this situation occurs then the investment option is the most likely to occur.

[Joy- maker]

I don't really see the need for all these comparisons,  because both assets are good in their own ways,  and both assets can also serve as a  store of value with potential returns.

I know Bitcoin is unique,  because it has a total supply of 21 million coins, it has no physical form,  it not controlled by any central authority,  and it is easy to access.

with Bitcoin you can broadcast transactions without any intermediary,  it is also decentralize,  transparent,  borderless,  resistance to censorship and transaction can be verified on a public blockchain.

[Alphakilo]

it makes me wonder if is this the dead end? will bitcoin continue to be like gold wherein it was once used as a currency but eventually became just a store of value? or will bitcoin later on go back to its original purpose?

Many people have given you their opinions and they are correct because bitcoin remain to be a store of value till today, there has been nothing that changed and nothing will change it in the future than bitcoin price worth to continue increasing because of how scarce bitcoin would be.

It is good to know that bitcoin has been a store of value since it was created as the price has ever been increasing. Bitcoin is a medium of exchange.

The success of Bitcoin was birthed by the emergence and superiority of internet enabled devices and web3.
Then came the Blockchain which allows Bitcoin and other crypto currencies to function.
Gold existed when Internet wasn't a thing and am unsure if there's another advancement in technology, a new form of currency would emerge to enable people who believe in that ecosystem transact and earn as well.
Bitcoin is still seen as currency and used as such, but with volatilities rocking the boat, it's now best seen and used as a store of value because fiat can't be trusted due to all these wars and crisis and insecurities ongoing worldwide.

[Josefjix]

I don't really see the need for all these comparisons,  because both assets are good in their own ways,  and both assets can also serve as a  store of value with potential returns.

To be frank, at some point, I get tired of differenting and comparing Bitcoin and Gold. The both are doing pretty good in their own ways and they must not be the same at all. I haven't seen people comparing Silver and altcoin, why that not comparable, why always Bitcoin and Gold all the time.

[vanesha]

No one knows for sure about Bitcoin. Whether it will become like gold in the future, simply as a storage device, or return to its original purpose as a digital medium of exchange. All of this still maintains Bitcoin's function and value. I have no concerns about Bitcoin. If that's the future of Bitcoin, then it's certainly worth investing in.

[X-ray]

Nothing wrong with largely being a store of value and still being used as currency or medium of exchange at the same time.

I think gold is peak asset and I'm sure everyone else agrees, if bitcoin reached the state of gold with having huge market cap, considered first choice or second choice for store of value. It will all be fine.

But since bitcoin is able to be used for remittance, cross border payments and so on. It will be used as a currency more often than gold even when the market cap has reached near gold in the future.