Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Domithra on April 21, 2018, 04:40:25 PM
-
I watched a video telling that every paper currency in history all collapsed , and USD will collapse too, in future.
The time in which a currency collapses is when people don't believe in its value anymore. And obviously, when thought reversely, something becomes a currency when more and more people believe in its value.
And currency becomes money when they don't lose value between people regardless of time, like gold.
Do you believe btc could be in this position? BTC could become gold?
-
As of now Bitcoin is already like a gold when it comes to price, but Bitcoin cannot replace the gold, since gold has a lot of uses, such as jewelries.
-
Hehe. Bitcoin and Gold are two different entities. Gold can never be on the BLOCKCHAIN but Bitcoin can. Bitcoin can never be as old although it's valuable now than Gold.
-
No it isn't. Bitcoin is a digital currency that can be used in online transactions in a faster way while gold is a thing that has value and can be used in making accessories and in many ways. The similarity of gold and bitcoin that it has value which can be help you a.lot in your status in life in financially if you have it.
-
I watched a video telling that every paper currency in history all collapsed , and USD will collapse too, in future.
The time in which a currency collapses is when people don't believe in its value anymore. And obviously, when thought reversely, something becomes a currency when more and more people believe in its value.
And currency becomes money when they don't lose value between people regardless of time, like gold.
Do you believe btc could be in this position? BTC could become gold?
Gold will always has value. We still don't have a proof about whether bitcoin will still has it's value or not if world war is happen but gold has proven that it still has it's value. We should think widely in this world is not all just about economy or politic but there are also commodity, culture, and etc.
-
bitcoin is not gold but bitcoin is a digital currency that only exists on internet but has real value
-
Comparing the value of bitcoin to gold is a bit far fetched, i think. From records and history past down, we know gold was valuable since the olden times even in the BC's. Can bitcoin stand the time that the value of gold has stood, and still be valuable? I hope it does but i dont think it can.
-
No! Bitcoin is not a gold it is just expensive and investors are enjoying their lives supporting this but still this couldn't be like gold because gold will never be lost the value bitcoin has a chance.
-
for me no bitcoin is only a digital currency that has a value like a gold sometimes and it may dump also while gold has its value that never change and never be lose anytime
-
There are big differences between Bitcoin and Gold, but I think they have much in common. In the near future, when the price of Bitcoin grows and volatility decreases, it will be more suitable as an investment instrument than it is now and then it will become a full-fledged digital gold.
-
bitcoin is not gold but bitcoin is a digital currency that only exists on internet but has real value
Perhaps the author of this topic was referring to a comparison of the value of Bitcoin and the value of gold. If so, Bitcoin can be called "digital gold", it is different from gold for many, but it has the same value for the digital world as gold has value for the physical world.
-
Actually, bitcoin is different from gold because it has no physical appearance. But, it is more valuable than gold. For me, bitcoin can be considered as digital gold due to its bigger market value compared to any other crypto coins. Though it has no physical properties or appearance, bitcoin can be considered also as an asset like gold .
-
I can say that bitoin now is much valuable or profitable than gold, because gold has a constant value maybe it takes years before price goes up, while in crypto you cannot determine the price sometimes pump sometimes dump, now if you are a good trader your daily profit would be much higher compare to gold.
-
Its on its way.. a bitcoin ETF would go far into establishing bitcoin for that final stamp of approval stopping lots of financial institutions and retail investors alike from investing.. I'll say no for now but with an ETF, could be right around the corner.
-
Yes it can and can not, it all depends on market confidence, if many believe in bitcoin and will make the value of bitcoin increase even higher, then bitcoin will truly become digital gold.
-
It depends. In my opinion, Bitcoin can be a superior coin and loved by people for a while. But Bitcoin will be left by traders 10 years from now. This is normal. Something will be loved and will be abandoned later.
-
Given that the world is changing and changing into digital form, communication with friends, games and entertainment, shopping, training and much more has already become a digital form, then the classic money also goes digital, and Bitcoin turns into an analog of gold, but in digital form.
-
Not yet because the demand of gold and money is still present. When time will come that the desires if the people turn into cryptocurrency, bitcoin will possibly become as gold.
-
I watched a video telling that every paper currency in history all collapsed , and USD will collapse too, in future.
The time in which a currency collapses is when people don't believe in its value anymore. And obviously, when thought reversely, something becomes a currency when more and more people believe in its value.
And currency becomes money when they don't lose value between people regardless of time, like gold.
Do you believe btc could be in this position? BTC could become gold?
Yes I believe BTC could become gold. BTC is very valuable and profitable. Bitcoin is digital gold.