Bitcoin will not replace gold

[Cleaner 2549]

9 hours ago, Guru2050 said:

There are some reasonable factors that distinctively differentiate between bitcoin the top leading coin and therefore placing it above any given currency. Volatility in nature of bitcoin has been the solid reason for it respect, making it most valuable and profitable coin in this generation

@Guru2050..I think gold will never go to bitcoin.  Because gold is only used for ornaments.  Gold's demand is not the same as Bitcoin's.  And Bitcoin is the best and most expensive cryptocurrency.  Its demand is increasing day by day.  You can make a profit by trading and investing with Bitcoin.  And if you hold on to gold, you won't benefit, because it's worth it  So Gold can't go in place of Bitcoin

[Guru2050 8284]

13 hours ago, Cleaner said:

You can make a profit by trading and investing with Bitcoin

You are getting the point @Cleaner due to it's unique and special features this make it to be most expensive and profitable coin as well. And above all making it capable of regulating the rising of the rest coins

[Cleaner 2549]

1 hour ago, Guru2050 said:

You are getting the point @Cleaner due to it's unique and special features this make it to be most expensive and profitable coin as well. And above all making it capable of regulating the rising of the rest coins

@Guru2050...There is not much to say about Bitcoin.  Bitcoin is a very good currency.  As the price of Bitcoin rises, so does the price of other currencies.  However, when you invest and trade with Bitcoin, its demand and supply increases.  This helps to influence its price.  However, I do not invest or trade with Bitcoin because investing and trading with this currency requires large capital.

[Dorjoy12 8962]

17 hours ago, Sofien crypto said:

Bitcoin is better than gold and an investment that gives unparalleled profits.

 Sometimes you also need to think about risk because if you only think about profit then you can easily lose..  By the way,   good is look like a stable price while bitcoin is Decentralization  crypto currency that price always volatile and there has a huge chance to lose your money but gold has now price pump hugely like bitcoin.. So for  money safety   people choice gold too..               

[huesca123 946]

Dark Shadow has some very good point in his comparisons between gold & bitcoin. i agree with all of his comparisons.

 

but i feel that he has left out silver as a contender. silver usually follows the price of gold. silver is in big demand because of its usage in electronics, cars, etc. if you look at the silver / gold price ration at this moment, its very high. compare the gold / silver ratio historically. meaning that gold has to drop in price ( which it wont or at least not much ) or silver has to really rally to close the ratio. which i believe silver will really move up 1 day soon.

 

silver & gold prices are highly manipulated in the markets, they also have huge price swings on a daily basis. i have been buying physical silver for ages now. be it coins or bars. do your own research on silver & you might like what you discover as silver being a possible investment.

[Zeshan Khalid 2577]

There is large popularity difference between gold and bitcoin as well. Gold is known by everyone and in reach of every person without having to be online. And gold assets  is also have national regulations.

[Chief executive officer band 681]

They will be old collected for the reason that gold will not be dispensed with in the happening that Bitcoin spreads as it will stay put of identical splendid usefulness scheduled to the hurdle of obtaining it and bitcoin wants a share of time until it is officially agreed.

[Smallingcane012 344]

Hi friends, bitcon can replace gold because there is slightly different between them, let call a spide a spide it cannot replace each other.

[Paul Zero 120]

On 10/30/2020 at 6:33 PM, Dark Shadow said:

Both depend on the supply and demand rule

You have a * mistake * here, while Bitcoin is available with millions of bitcoins, the demand for it can stop and become just numbers, but gold retains its value and always has a demand because - it is rare - and extracting it and finding it is difficult (mining).

[Guru2050 8284]

22 hours ago, Cleaner said:

@Guru2050 However, I do not invest or trade with Bitcoin because investing and trading with this currency requires large capital.

Right!!! Better to set up a target on how to be saving your little earnings for you to garner good amount that would be enough for you at least to start provided you are well equipped with the trading and investment making experience, diverse skills and distinctive tactics to manage the system@Cleaner the earlier the best

[duncun007 3577]

2 hours ago, Guru2050 said:

Right!!! Better to set up a target on how to be saving your little earnings for you to garner good amount that would be enough for you at least to start provided you are well equipped with the trading and investment making experience, diverse skills and distinctive tactics to manage the system@Cleaner the earlier the best

trust me, its better to start now than save up for a while and then get involved, because the longer you wait the higher price you will end up buying bitcoin, you can buy it and keep it on yobit while you learn more about investing and trading.

[Roan 2166]

This is true, my friends, gold, and Bitcoin are completely similar in most of the specifications, but the issue of Bitcoin replacing the gold is something that has some difficulty, but it is not easy

We must wait and see what surprises it will bring in the coming days

[P A Ashif 2409]

Beside trading of gold,  gold is also used for ornamental purpose. And gold is a physical thing. So that thing cannot be replaced by a crypto currency. And in terms of trading , there will be correlation between the asset. Actually there are so many crypto in market and all are existing together. There can be a shift of customer to Bitcoin in future from gold. That is a possible chance 

[Sajjuhaq 156]

It is true. For the time being and for many years gold has been a more valuable asset as it is rare and is more safe to handle. It can be in the form of jewellery and other accessories. People put their trust on gold rather than bitcoin. 

[pablomarwan 3082]

Yes, I may agree with you, but let's agree on one thing, which is that they both complement the other. Other than there is a difference in Bitcoin, there are about 21 million pieces of it, so here is the difference in the next ten years. There will be no room for gold to skip Bitcoin unless it really has finished mining. And also a price, including the difference between Bitcoin, is electronic gold.

[Jack4938 0]

In my opinion, investing in gold has develop into fixed and old, and you cannot earn a portion of money, therefore I fancy to invest change in Bitcoin and cryptocurrencies as an alternative of gold for the reason that Bitcoin is a modern currency and it will own a superior potential than gold, principally if dealing in Bitcoin becomes permissible in every single one countries.
 

[Dark Shadow 295]

8 hours ago, norganblack said:

@Dark Shadow In my point of view the 2 work as in simultaneous, neither will be replaced because one is physical and the other is virtual, the 2 are fundamental. None can be eliminated because they have already arrived to stay forever.

@norganblack Of course I agree with you. They are both very important in their own sectors and both have a lot of fame. Neither of them could dethrone the other due to various pros and cons. So, both are destined to run side by side.

[Dark Shadow 295]

9 hours ago, Paul Zero said:

You have a * mistake * here, while Bitcoin is available with millions of bitcoins, the demand for it can stop and become just numbers

@Paul Zero You have given valid points friend. But I think that the demand of Bitcoin can never become 0 because it has accumulated a lot of fame and popularity and it is impossible for it to die out.

9 hours ago, Paul Zero said:

but gold retains its value and always has a demand because - it is rare - and extracting it and finding it is difficult (mining).

I agree that Gold always has a demand and it is rare. But I believe that in the year 2140 (when the last Bitcoin in mined) Bitcoin will become rare as well and this will increase it's demand exponentially.

[Moontong 5312]

Cryptocurrency cannot replace gold because they are a different asset, both are good for investment especially for the long term but if we are talking about that, I would prefer the cryptocurrency because of the volatility of the bitcoin makes it more profitable compared to some other assets. 

[Paul Zero 120]

15 minutes ago, Dark Shadow said:

Bitcoin can never become 0 because it has accumulated a lot of fame and popularity and it is impossible for it to die out.

But you are talking about a currency that is still 11 years old and is still unstable that fluctuates, while gold has been used for centuries and does not lose its value.

[Dark Shadow 295]

23 minutes ago, Paul Zero said:

But you are talking about a currency that is still 11 years old and is still unstable that fluctuates, while gold has been used for centuries and does not lose its value.

@Paul Zero I guess when you put it that way it could be possible. But the chances of that are still pretty low unless something much better than Bitcoin enters the market and dominates it or if the mysterious owner(s) does something that ruins the image of Bitcoin.

[Stefan1 12]

You are absolutely right. Both gold and bitcoin have their own position and price in the mart.  Since Bitcoin is not admissible  in a few space, that cannot be used in space of gold because gold was much more than exposed afore Bitcoin and it cannot be replaced by Bitcoin.

[Qainth 0]

Yes. I am strongly agree with you that BTC will not replace gold. BTC is a digital currency and gold is physical. BTC don't exist physically in the market and gold exist in the market physically. It very difficult to replace physical existence of gold with digital currency of BTC.  

[fanylu 505]

We could say that bitcoin and gold are very similar, gold has been there for decades and has remained in a very important position and value, but bitcoin is a virtual currency that has grown and has had a popularity that is increasing exponentially. Although it could be difficult to beat gold, it would be there next to gold.

[Raven 7817]

I think bitcoin or digital currency can't replace fiat currency because not all the country in the world legalized bitcoin or crypto currency and also people thinks that crypto are scam, that's why they're afraid in crypto.