Bitcoin will not replace gold

[Oxygen99 1930]

17 hours ago, Dorjoy12 said:

@Oxygen99  if a investor or trader has less capital in crypto world then i think it will be better for him if he start trade on low value coin as you mentioned litecoin, eth.. I have calculated many time that if you use the same usd  to buy ltc or another currency  instead of want  to buy btc    then you can have more good profit.. So i dont prefer btc in low capital..         

Yes my friend because even at present bitcoin is reading $13,000 plus in the Cryptocurrency marketplace which is too high for small traders as well as long time investors and the likes of ethereum and litecoin even give better profit in the field of trading compared to bitcoin.

19 hours ago, Jaafar Fahad Hassan said:

Okay mate, now I get you, I didn't get your previous comment right, thanks for making me understand with your brief explanation. Some will ignore my post of not understanding ,but you instead reconstruct the post to the level of how I can easily accumulate. Thanks once again mate, I really appreciate you

We all here to help each other out in at the time of having difficulties because there maybe something you understand better than I do for that you can also correct me so that i cannot be miss lead which can make me lose, so let help each other as it is one of our responsibility as good ambassadors of the forum.

[Dark Shadow 295]

On 11/2/2020 at 5:23 PM, Wanderdark^ said:

I think bitcoin will overpower the gold in the future because it has even more limited supply than gold. In its current status, it already started to overpower gold because most of the gold traded is on paper and they are just numbers on accounts  they have no real counterpart in physical gold. for example if all the people who has gold in their accounts wanted to withdraw it, there isn't enough gold in the world to pay them all. so, with gold, there is virtually no real supply limit. On the other hand BTC supply and limit is real.  

@Wanderdark^ Great points you have picked to show the superiority Bitcoin has over Gold. But I personally think that Bitcoin can't overpower Gold because it isn't legal everywhere and also it's volatility can prove to be a problem for some people. I think that they will both exist as equals in the future and neither of them will overpower the other.

[Dark Shadow 295]

10 minutes ago, RAFUCHOO said:

Bitcoin will never replace gold since it is a non-renewable mineral and bitcoin is a digital asset which if there were no electricity goodbye Bitcoin, so to speak.

@RAFUCHOO You are right that Bitcoin can not replace gold. Both are very important in their sectors and both have their drawbacks like you mentioned. So I personally think that they will both have an equal status in the future.

[Dark Shadow 295]

On 11/2/2020 at 6:53 PM, Mike1515 said:

we are trying to look for freedom and bitcoin represents that, gold represents value   , you know what is the value of bitcoin and thats what happened

@Mike1515 Exactly. Bitcoin represents freedom from the authoritarian governments as Bitcoin is a censorship-resistant medium exchange

On 11/2/2020 at 7:10 PM, George10 said:

Gold can be faked while bitcoin can not

@George10 I agree with you that Gold can be faked but real gold can't be made artificially. If someone was to make a fake copy of Gold it would not last very long and different tests can help you identify whether it is real or not.

[Virgil dijk 1431]

I agree with you bitcoin can't replace gold, there are both essential in there own aspect, which is bitcoin has its own functions and same as gold, bitcoin is an asset which fluctuates in price, the fluctuations is what makes it profitable, while gold is a commodity which could be used in production of goods like jewelries and it's price is stable, there are much more difference between gold and bitcoin, so I think non will take each other's place .

[Mubiflow 1771]

Bitcoin is not the New Gold or is it here to replace it.  A Comparison of Volatility, Correlation, and Portfolio Performance. It's very important to know that of BTC and  gold are valuable and rear bitcon and gold featured fundamentally different properties as asset and linkages in the market therefore bitcoin does not have any property of gold.

[ariel1969 3]

no creo. los gobiernos no van a permitir eso por que perderian el control de la economia mundial

Edited November 3, 2020 by ariel1969

[Gabriels100 157]

Gold served as a backing for the currency and bitcoin is an asset with a lot of security that will continue to increase in value over time just like gold, I think that both will continue to increase in value at par and bitcoin will never replace gold.

[Husnyjaf 1784]

On 10/31/2020 at 10:19 AM, moulita_064 said:

as we all know gold is the most famous metal 

Bitcoin is increasing its price day by day and it is similar as gold but it cant take place of 

Bitcoin cannot replace gold and I what a key reason for saying so. Gold is a physical object that can be seen and either those who are acquainted with internet were gold even the locals know the value of gold.

[Upright 2688]

There's always going to be debate as on if Bitcoin can be another alternative on the good commodity, as there's always on the look on the standards of volatility which is really a thing which happens on the Bitcoin Price as it has days which it's really volatile and  as such, the level as on its availability world wide as not all countries recognize the essence of Crypto yet, but looking on the outside correction can be made on the Bitcoin timeline but it can't be controlled

[godislovefll 1880]

On 30/10/2020 at 12:33, Dark Shadow said:

Hay muchas discusiones en este foro sobre si Bitcoin reemplazará al oro o no. Personalmente, creo que ambos correrán uno al lado del otro y ninguno de ellos se reemplazará porque:

 

1. Ambos son igualmente raros
2. Ambos tienen liquidez
3. Ambos son seguros
4. Bitcoin es una buena inversión a corto plazo, mientras que el oro es una buena inversión a largo plazo.
5. Ambos están minados
6. Ambos son igualmente aceptados en sus sectores (es decir, los inversores los consideran refugios seguros)
7. Ambos están descentralizados 
8. Ambos dependen de la regla de oferta y demanda
9. Ambos tienen popularidad
10. Ambos no se pueden dañar o no se pueden producir copias falsas

 

¿Qué piensan ustedes? ¿Estás de acuerdo conmigo o no? Házmelo saber.

In fact, reducing its volume to gold will be more expensive which will make it considerably more valuable, and you are right because both have great support for both btc and gold, which makes it very little possible for btc to replace gold. Greetings friend.

[Jromz 2158]

I'm assuming that you're speculating whether bitcoin will replace gold as a safe haven, I think that mostly depends on how bitcoin will perform in the future financial crisis. Currently, bitcoin seems to be decoupling from stocks markets, as they've been falling for the last few days. This is definitely a good sign, but it's still difficult to determine whether people in future critical events, will start to use bitcoin as a safe haven instead of gold.

[Mcd0d0 5882]

Well, if we are talks about to the value of it, bitcoin can replace gold because gold is just a stable in terms of pricing and it has a small amount compare to bitcoin which is now $14000, we cannot avoid that bitcoin and gold has similarities but many people like bitcoin than gold.

[Dark Shadow 295]

 

4 hours ago, godislovefll said:

In fact, reducing its volume to gold will be more expensive which will make it considerably more valuable, and you are right because both have great support for both btc and gold, which makes it very little possible for btc to replace gold. Greetings friend.

@godislovefll Exactly, the volume of Bitcoin is a lot compared to Gold but in the year 2140 when Bitcoin mining will stop. Then the volume of Bitcoin will be limited and maybe at that time Bitcoin will become an equal to Gold.

Edited November 4, 2020 by Dark Shadow

[Tine0313 3053]

I agree with you. Bitcoin and gold have different value but both are good for investment. They have unique characteristics as for mode of investment. But for me i would go for bitcoin because Bitcoin now has a good value and i believe the vlaue of it will pump more.

[Mir Hamza 2888]

Bitcoin can never replace gold. Who has many causes now I explain its some causes why it can not replace with gold. We cannot give bitcoin a place to gold because both of them are very famous. It is the price of both of them on their demand, if their demand is high, then their price will also be higher and if their demand is less then their price will also be lower. Apart from this, both of these are very safe, we can invest on this without taking home any danger. Apart from this, both bitcoin and gold are used as a lot of trading, he likes to do slogan for trading. But it has a condition that we use gold for long term trading whereas we use bitcoin for short time trading.

[Dark Shadow 295]

On 11/2/2020 at 8:19 PM, mohamedpc1 said:

Nicely stated mate I believe your factor of view thou I do not deal in gold but yeah I assume you are right Gold may be faked at the same time as bitcoin can't due to the fact it's miles controlled on blockchain beneath one operational system that cannot allow any faux created bitcoin to pass thru and for that reason I too assume bitcoin is good over gold.

You are right @mohamedpc1 that Bitcoin can't be faked because it operates on Blockchain technology. Gold can be faked but different tests can help you determine real gold from the fake one so it is impossible to make a fake copy that is exactly like the real one.

[Ramz99737 1196]

I think Bitcoin does not currently have the potential of gold. It's possible in the distant future that Bitcoin and other cryptocurrencies will replace gold، Because of the increasing spread of cryptocurrency use day by day.
But I believe that gold will remain a safe haven for all forever.

[JesusFries 1958]

Hello! I agree with the key points you lied down above but I believe that the public will recognize gold as tangible one rather than Bitcoin. Yes, both are recognized as something valuable but again we cannot convince everyone about Bitcoin. Aurum is renowned worldwide while there are limited/certain people who are knowledgeable about Bitcoin. Another thing is that the price of Bitcoin may drop anytime (unstable) but the value of gold is constant/stable. 

[Dark Shadow 295]

On 11/2/2020 at 8:42 PM, gbfisher said:

Yes,  your post is very useful because its telling clear points about btc and gold. Both have their importance because gold was accepted worldwide and its usage is more then btc because it has oldest money and it has also a physical financial asset so thats why mostly people believe in gold but in very short time btc make their own importance. Day by day countries accept it and its a digital money used for online transactions so working of both side by side is better for the latest generation and one more both are used for long term investment but btc also used for short term as well... 

@gbfisher Thanks for praising my content💙. I am glad you agree with me. BTC has made huge progress in a very short amount of time and I don't think it will stop here. It will keep moving forward until it stands as an equivalent to Gold.

[Dark Shadow 295]

8 hours ago, Virgil dijk said:

bitcoin is an asset which fluctuates in price, the fluctuations is what makes it profitable, while gold is a commodity which could be used in production of goods like jewelries and it's price is stable,

Yeah @Virgil dijk you are right that Bitcoin is a digital asset and it is volatility. This is why people move to Bitcoin and Crypto instead of commodities like Gold, Silver etc because Crypto can bring you huge profits if you have invested a good capital. 

[Dark Shadow 295]

8 hours ago, saraanna396 said:

Bitcoin and gold each have their advantages and disadvantages, as Bitcoin has high profits, but it is less stable, and you can lose all your money through fraud or hacking, as for gold, its price is more stable, but its profits are lower.

@saraanna396 Yes, that is true. They both have their advantages and disadvantages but still Gold is preferred by most investors. They don't see Bitcoin as a worthy investment because it isn't tangible. Maybe some day everyone will also prefer Bitcoin and it will be legal everywhere. Only then will we be able to see Bitcoin on the same level as that of Gold

[Mouhadheb 196]

All your words are correct, but some people think that alternative currencies are also like gold, and this is considered a fatal mistake.

[Dark Shadow 295]

8 hours ago, Gabriels100 said:

Gold served as a backing for the currency and bitcoin is an asset with a lot of security that will continue to increase in value over time just like gold, I think that both will continue to increase in value at par and bitcoin will never replace gold.

Exactly @Gabriels100 I also think the same. Both have their own role and both are very expensive. Their value keeps increasing over time and someday they both might stand side by side.

[Dark Shadow 295]

7 hours ago, patosho2 said:

I think the two can run together yes, but in the long run bitcoin tends to outperform gold as it is a 100% digital currency as opposed to gold that must be physically mined

@patosho2 Bitcoin tends to outrun Gold but since it is digital and not tangible many investors avoid it. Also it is not legal everywhere and this gives Gold the upper hand. So I think that the two have a possibility of running together.