Bitcoin is digital currency or digital gold?

[DanWalker]

Actually, recently seen that they launch a digital gold which is the XAU previously, so now with this still just the convenience it brings is you can now buy and sell instantly your gold without going to a physical shop to sell your hold golds. Well, these stills rely with the current market of gold. Still on the supply and demand but still less volatility and still took over weeks and months before there is a change with the market price. Now if you are into market volatility I'd rather go with the Bitcoin. But having both is better decision.

Are you talking about tokenized gold? In my opinion, this is not digital gold. Because when you own this type of asset, you are really just holding a representative token backed by a promise that real gold is sitting somewhere in the issuer's vault. In reality, you dont actually own that gold.

In essence, tokenized gold is similar to gold ETF, and you dont actually own real gold when you invest in them.

[CageMabok]

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I think. It could be both a medium of exchange and a store of value. Bitcoin allows instant transactions, has very low fees and its adoption is growing rapidly. Even countries like El Salvador have legalized Bitcoin as a means of transaction, although it's currently ineffective. Furthermore, in countries with high inflation many people use BTC for cross border value transfers because it's considered superior to local fiat currencies. Volatility is true, but over time if mass adoption continues to increase volatility will decrease making Bitcoin suitable as a digital currency. Furthermore, if we look at the history of gold or other fiat currencies, they were also initially volatile.

In terms of store of value Bitcoin even has many advantages over gold. For example, Bitcoin has a limited supply because its supply is programmed, so it cannot be changed arbitrarily. A limited supply makes Bitcoin scarce and Bitcoin is more transparent and difficult to counterfeit.

To be precise, Bitcoin does have more differences than other assets like gold and any fiat currency. So in terms of storing it, it is also different and the influence of its own value will also be very different from gold and other things because Bitcoin was born to provide benefits and advantages that gold does not have, even though assets like gold have been known to many people in this world for a long time. However, at this time, Bitcoin's influence among many people has also been able to bring more changes and has also been able to open the minds of many people to want to buy and store Bitcoin for several purposes, one of which is as a medium of exchange because at this time several countries have legalized it.

[free-bit.co.in]

Before I joined this forum I have study books that related to BTC and other cryptocurrencies but I have not seen where the founder of BTC said BTC is a digital gold

Bitcoin is Bitcoin, and gold is gold, they are different assets. The Bitcoin founder, Satoshi Nakamoto did not say anything that Bitcoin is Digital Gold, which is a term used by Bitcoin community.

In the Bitcoin white paper, Satoshi wrote about Bitcoin as A Peer-to-Peer Electronic Cash System.

They are different assets, and Satoshi never claimed that Bitcoin was digital gold. However, let's look at the current situation and what Bitcoin is becoming. Do any of us actually use it for its original purpose as currency, or do we all treat it as an investment like gold?

Do not keep clinging to the original concept when reality has already changed in a different direction, and we are the ones who created that change.
You, I, and most people are using Bitcoin as digital gold. How can we deny that it is digital gold when we are the ones hoarding it like gold, holding it like gold?

[BitBrainers]

You, I, and most people are using Bitcoin as digital gold. How can we deny that it is digital gold when we are the ones hoarding it like gold, holding it like gold?

This is the most honest take in the thread. The market already decided. Not Satoshi, not the whitepaper, not the label. The collective behavior of millions of holders treating Bitcoin as something you accumulate and protect rather than spend is the definition of a reserve asset. Labels follow behavior, not the other way around.