Is Bitcoin a Digital Gold??

[mamun777]

After reading a lot of posts made by people on this forum, I realized about 75% of them see Bitcoin as a digital Gold. For me, I don't think Bitcoin is a digital gold. Cryptocurrency or Bitcoin to be precise, was developed to be a safer option for transaction of goods and services and also the best mode of payment. Bitcoin was introduced to disable all the restrictions that banks and the financial system presented. A lot of people have lost huge sums of money because they saw bitcoin as a digital gold. I know others will argue that bitcoin has also made people rich but for me, I don't think it is advisable to consider Bitcoin as a digital gold. Bitcoin is a digital currency.

[rightway]

Yes, In my own opinion we can really consider bitcoin as a digital gold because like gold bitcoin is too expensive that we need to keep in safest place to avoid any risk from hacking incident which is common nowadays.

[dragononcrypto]

After reading a lot of posts made by people on this forum, I realized about 75% of them see Bitcoin as a digital Gold. For me, I don't think Bitcoin is a digital gold. Cryptocurrency or Bitcoin to be precise, was developed to be a safer option for transaction of goods and services and also the best mode of payment. Bitcoin was introduced to disable all the restrictions that banks and the financial system presented. A lot of people have lost huge sums of money because they saw bitcoin as a digital gold. I know others will argue that bitcoin has also made people rich but for me, I don't think it is advisable to consider Bitcoin as a digital gold. Bitcoin is a digital currency.

You're right that Bitcoin is physically nothing like Gold. Precious metals are near useless for trade and payments, so in respect to BTC, it is more like cash and debit cards, as it's a relatively easy method of payment. For example Bitcoin is more accepted by vendors and markets than Gold at the moment, in this respect it's closer to a payment system like visa. The idea of Bitcoin being digital gold is more related to the idea of both being commodities, and therefore having lower inflation, with Bitcoin in particular having a fixed supply and controlled inflation. The context is more that it is "a digital gold", conceptually speaking, as a store of value. With the idea that it will increase in value like Gold has over the decades and centuries.
Hope that helps to explain things. Personally I don't see it as a digital gold, but rather "a new gold". It can be easily compared to a precious metal or form of fiat currency, but it will always be unique with it's controlled inflation, fixed supply and decentralized network.

[bdsharminsoltana]

bitcoin is not a digital gold, bitcoin doesn't have a physical form like gold, and bitcoin now exists on the internet. but bitcoin does help many people to make money like what they get from gold. I agree with the OP that said that bitcoin is a digital currency which we can use on the internet but in the future, I think bitcoin can also be used in our real life. but we agree that bitcoin is the investment that we can have because we can buy a small part of bitcoin for our investment and this is different with gold which we need to buy some amount of gold. maybe I can say that we have gold in our real life and we have bitcoin in the online life so we have two type of the investment

[Zyarifa]

at present I personally disagree if bitcoin is digital gold because in terms of the value of gold prices are much more stable compared to bitcoin, seen from the interest of the gold community more interested than bitcoin, maybe for the future with the development of the times all digital can be bitcoin as digital gold

[purpleseven]

I call it the future gold that has good technology. Bitcoin's potential to replace gold investment is very large in the future. bitcoin can be used to transact like money.

[Carbitcoin]

I call it the future gold that has good technology. Bitcoin's potential to replace gold investment is very large in the future. bitcoin can be used to transact like money.

in any case, I would not speak so specifically about cryptocurrency and compared it with precious metal. The fact is that gold is a physical body and is of great importance because of this. but nevertheless ethereal is the best and promising investment for me, compared to other cryptocurrencies.

[etoker]

Bitcoin is more like sterlin than gold. Sterlin is the most valuable of real money and bitcoin is the most valuable cyrpto currency. Etherium looks more like dollars, most altcoins are being valued with it.

[tamango]

I agree with you, many refer to BITCOIN as Digital gold because like gold for precious metals, Bitcoin is the most known and used in crypto. However there is a huge difference in terms of price stability  so I think it's not correct to refer to BTC as Digital Gold.

[Timah]

I think that bitcoin can be said to be digital gold because the price is so expensive, but those bitcoin miners will also be disappointed when the price goes down and they will save the coin first and sell it when the price goes up.

[Libra]

I think that it could have been long ago equated to gold, because it is the leader in harming the cryptocurrency market, as well as gold is the leader

[Missterio]

I think now it is not so obvious, but as soon as Bitcoin rises in price to 20-30 thousand, many will be sure of this even more and will regret not having bought it before.

[Stgeorge]

It's true that bitcoin is digital gold that has very high value and bitcoin is also very good for getting big profits by investing. The value of BTC continues to increase.

[bdamenaakter]

BTC can be both a safe means of storing value, and a liquid exchange medium used for small payments. The solution is to adopt and distribute an ecosystem with a division of powers, where each sector is responsible for its own part of the jobs.

[Elevteros]

In general, Bitcoin is not convenient as a digital currency, but more suitable as a digital asset or gold!