The battle of golds: victory of digital gold

[MrSpasybo 1049]

As the price of gold plunged on Friday, CNBC’s Jim Cramer said the rise of crypto may partly explain the sudden disinterest in the precious metal — a potential sign that the mainstream has flipped the script on Bitcoin (BTC) and digital assets. 

The flagship cryptocurrency continues to outperform gold and every other major asset thanks in part to an influx of new institutional buyers. Measured in bullion, 1 Bitcoin is now worth more than 20 ounces of gold. A week earlier, the Bitcoin-gold rate was around 15 ounces.

The idea that Bitcoin is taking market share from gold is nothing new. A recent analysis from JPMorgan Chase concluded that Bitcoin’s digital gold narrative is pulling investors away from precious metals. The analysts said this trend could intensify as more institutional money pours into the crypto space.

Article: As gold crashes, Jim Cramer says money is ‘all going to crypto’

What do you think about this, when the explanation is quite plausible: gold & metals are put in safe portfolio in 2021, not one that promises high returns, whereas Bitcoin & Altcoins are considered to have many potentials to bring high profits in the same group as securities stocks.

Could this be called digital gold's first victory over traditional gold? And can this trend continue until the end of 2021?
Of course I don't believe that crypto can instantly replace all gold as the primary reserve asset of governments.

[Msh9 84]

Bitcoin is a currency of very great value and it is rising and increasing its popularity in the world of digital currencies, so it has gained a large and clear rise in recent days, and it will increase and rise and will become the largest value of gold.

[Khan 1414]

Many users compare Gold with Bitcoin and also Claim the BTC is the Digital Gold but I will say that Bitcoin is the Digital Diamond and the Ethereum is the Digital Gold.

[Dedo 263]

I think that the future will witness a great victory for cryptocurrencies, especially Bitcoin . And that is after it attracted people around the world to invest their money instead of gold .

It is a good option for trade exchange, investment and saving money .

I think that we can reap a lot of profits with our cryptocurrencies, especially Bitcoin

[Maaz sultan 265]

We are seeing that the crypto market have a lots of potential as compared to gold the crypto market prices goes higher then 4x which gives us chance to gain high profit in low investment .

[Hanbal 359]

Bitcoin could be called digital gold , as a result of bitcoin influence in the market investors are moving to invest on bitcoin rather than traditional gold because we are in the world of technology definitely a digital gold should emerge which is called bitcoin.

[Barbarellah 2225]

I think that this boom for adopting cryptocurrencies as an option to protect the economy against the devaluation of fiat money is what most institutions are applying, on the other hand making purchases for gold is much more complicated than making an investment in Bitcoin, apart From that when you acquire Bitcoin, your cryptocurrencies go directly to your wallet, instead if you buy gold, your bullion is protected by other institutions. The factors that you indicate in your publication and those that I have just exposed are the ones that will continue to influence the demand for Bitcoin and other cryptocurrencies to continue to increase.

[nykas 2812]

Gold is a very popular asset which is being used by people all over the world during many decades, so I don`t think Bitcoin can replace it right now, but in the future it can really happen, because everything becomes digital and the best variant for the digital gold is bitcoin. Crypto is still too weak comparing to the world market, but sphere grows every year and sometimes gold can be really less appreciated than Bitcoin 

[Dormilon 2183]

On 1/8/2021 at 6:41 PM, MrSpasybo said:

Of course I don't believe that crypto can instantly replace all gold as the primary reserve asset of governments.

@MrSpasybo What happens is that BTC is cheaper in its investment costs, transporting gold requires logistics and storage requires physical space and a series of expenses that must be covered, in that case BTC is easier to have and exchange without having to make trips or physical storage, I am sure that many countries are abandoning gold to get hidden in the investment of BTC, this has brought new investors who see in digital gold a reliable source of investment, cheaper in costs and more versatile in their exchange transaction because they can do it in real time between countries without going through control schemes.

[Yaabu 80]

Numerous clients contrast Gold and Bitcoin and furthermore Claim the BTC is the Digital Gold however I will say that Bitcoin is the Digital Diamond and the Ethereum is the Digital Gold. Because diamonds are much more costly than gold. 

[velasco19 1753]

Bitcoin is attracting the attention of many investors and as investment funds must declare their assets, we have noticed the increase in cryptocurrencies and that has generated many expectations in different sectors.
Gold is losing the opportunity to increase its capitalization due to Bitcoin, but the dollar is also losing a lot of value although it is not a store of value and inflation forces us to look for new options to take refuge and that is where cryptocurrencies appear as a disruptive option and with potential.

[annayks 2314]

Jim Cramer was shilling the top? Thats just great, maybe I should be watching him more to get the perfect counter indicators as lately I've seen many of them doing the same. Maybe when they are all singing together we can know safely where the top is. Don't listen to anyone, does Jim Cramer know a thing about Bitcoin? Obviously not, he wouldn't spend more than an hour trying to understand it and got bored easily.

[zhoutong 2188]

If we consider Bitcoin to be digital gold, it performed way better from the actual gold, but I think this is wrong approach, Bitcoin is not gold and has some similar attributes at the same level, as scarcity but it is mostly in the market for investing and speculating. It is used in some regions and this gives me hope that the reasons it was created are still there. The people in some latin american countries that have very high inflation have found refuge in Bitcoin. 

[bogdanoff 3173]

Bitcoin is moving higher in price and gold is still too far from Bitcoin reach, as it will take a long road to reach a capitulisation similar to gold's. But in terms of how Bitcoin is working, it is better than gold in my opinion.

[Dang3r 103]

He considered that there are no losers or winners when we talk about gold, whether physical or digital, since mineral gold continues to fulfill its objective is what is to be a stable reserve value compared to digital gold is Bitcoin, which in just one week lost 30% of its value, so how it currently takes refuge in a we will see, nothing is clear.

[tienda 8776]

Bitcoin has some similarity to the Gold in process and value compared to others cryptocurrencies. But I think it is not the moment when we compare Bitcoin to the Gold, Gold is a regularized good, Bitcoin still is not regularized. So after the regularization we will see if really the Bitcoin will stay with high price value and profitable or no.

[Syedbesharat 5423]

This boom was in debate form the start of 2020 where you have heard the prediction of 1 million, 500k 200K and in latest $140k. The price is at $40,K and touch the $42k the highest BTC. Where the bull isn't ended yet and gonna go after more higher price the figure of $50K is acceptable and the highest value of BTC is giving comfort to across the world people and people become more convenient to BTC after this Boom. The are thinking it will be potential alternative of fiat or secondary payment which have value. 

[Jromz 2158]

The possibility discussed in the article is plausible, Bitcoin could have taken at least a small part of gold's market cap during this bull run, which made the gold price to depreciate. However, gold's market cap is still way bigger than Bitcoin's, and does not seem very likely that Bitcoin can take a larger amount of this market capitalization. In my opinion, both assets have good things to offer despite their respective drawbacks.

[yonkii 3205]

Are we sure we should be calling Bitcoin with the name digital gold? Is Bitcoin that or is it perhaps something else. I still think that digital gold is not so required. We need a currency to use on the internet, and perhaps the same currency to use for payments in our real lives, however Bitcoin has some problems with that. Can we safely say that Bitcoin will be here for a hundred or three hundred years more just by calling it digital gold? Or that it will have interest and value thirty or forty years later?

The way I see it, Bitcoin is a great network. But, it is also the people behind Bitcoin that help to sustain it and also are giving it a better image. It is the cryptographers that support it and the intelligent people that promote it. The respect towards this asset comes when important people describe it and the price it receives it comes when investors listen to these people.

This is the marketing that works for Bitcoin right now more than anything else. And most of the investors don't seem to care to even make a Bitcoin wallet, or learn what are the private keys. Most investors are institutions in Grayscale and investors like us, but in Paypal. This doesn't have anything to do with Bitcoin and probably the way it is treated won't last for two or three decades. Can we say that Bitcoin is digital gold because someone said that? It will need three milleniums to make this judgement.

[Serbberq 724]

Bitcoin have make people to leave all other valuable asset that are used to store money. Because holding and investing in bitcoin have change the life of other people in good ways which attract people around the world now to invest in bitcoin than in gold. 

[percare 3192]

This is a small victory but the struggle for adoption will be long and take years, maybe even decades. Bitcoin has not won anything and all that are achieved today can be turned around in just a month. Bitcoin use case is not very clear always, as it started being a currency and changed. It can change again with developments and it may become something more than just the early stages of a digital gold concept.

[Khan 1414]

On 1/17/2021 at 8:53 PM, Emanuel 12 said:

Just as the traditional gold keeps growing, digital gold have taken the advantage and it's also going a very long journey. The prices are good and more people keeps using it. Name can play a very big name in the growth of a coin

The Gold in real life is more profitable as compare to the Digital BTC because the Gold price is stable and if it moves up and down then there is very less fluacting but in BTC its all about the game of fluacting.

[Shahin3864 101]

The sphere grows every year and is sometimes less appreciated than the gold bitcoin. Crypto is still very weak compared to the world market. This could really happen in the future, as everything becomes digital and at its best Bitcoin for digital gold. Gold is a very popular resource that has been used around the world for decades, so I don't think Bitcoin can replace it now.

[abohasnn9 2401]

My friend, indeed, we won the digital currency gold, which is the great Bitcoin ... Bitcoin is the gold of cryptocurrencies, as it is from a decentralized side and limited in number, and it is mined and searched for in the network space in a way similar to extracting gold from mines in the earth. The difference is only in the place of mining.  Mainly control everything thanks

[Silwester_888 439]

Positively! A struggling decade of Bitcoin is now bringing the fruit to its holders. The sudden increase in the demand and the price of the Bitcoin showed something different and increasing acceptance all over the world creating a positive impression on its value. I think it is not wise to compare Bitcoin with tangible gold because it is something more valuable and unique than physically exist gold.