Will bitcoin replace gold?

[arvinabeabe]

Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter.

[Kyoshiro]

Well, I do guess that you are wrong. Gold has more effect in the physical world unlike btc. In fact, it has a higher price than BTC. Do not compare gold with Bitcoin. Because they are a lot more different. Be careful with your postings

[Mr.X]

Very good news if  bitcoin replace gold because  I know the prices of gold is very expensive.

[atmanagari]

Sorry. I think gold has more values than bitcoin. Gold is safer than bitcoin. Most of peoples of the worlds are familiar with gold. Bitcoin will never surpass gold on the real value, I think

[LogiC]

Hello I don't agree with your point. Gold has been backed up by a lot of countries as it is a source of balance within the power all over the world. A naturally occurring material with limited resources is more valuable than a digital asset created. See the difference in value not by price but the one respected by most. I'm a crypto enthusiast but cannot say that btc can replace gold like that. There still flaws with btc that has to be address. Why do you think SEC keeping strict about it? Hope you get my drift mate

[atmanagari]

Hello I don't agree with your point. Gold has been backed up by a lot of countries as it is a source of balance within the power all over the world. A naturally occurring material with limited resources is more valuable than a digital asset created. See the difference in value not by price but the one respected by most. I'm a crypto enthusiast but cannot say that btc can replace gold like that. There still flaws with btc that has to be address. Why do you think SEC keeping strict about it? Hope you get my drift mate

Very nice, mate. I agree with this post.
Gold is the real currency I think. There is no any digital assets can be compared to gold.
Sorry, there is no need to make any debate. Because this is the fact.
Cryptocurrencies can't be compared to gold. These are totally different. Thumbs up for mr.LogiC explanation 👍

[LogiC]

Hello I don't agree with your point. Gold has been backed up by a lot of countries as it is a source of balance within the power all over the world. A naturally occurring material with limited resources is more valuable than a digital asset created. See the difference in value not by price but the one respected by most. I'm a crypto enthusiast but cannot say that btc can replace gold like that. There still flaws with btc that has to be address. Why do you think SEC keeping strict about it? Hope you get my drift mate

Very nice, mate. I agree with this post.
Gold is the real currency I think. There is no any digital assets can be compared to gold.
Sorry, there is no need to make any debate. Because this is the fact.
Cryptocurrencies can't be compared to gold. These are totally different. Thumbs up for mr.LogiC explanation 👍

actually gold isnt a currency but backed up by any currency that's why it has greater value. The OP is about comparing btc and gold regarding it can surpass gold by btc but the case is different if you will talk about economic scale. Maybe btc has been formidable investment now but still gold still stand. 10years from now, the one who posted this will realize the fact that my point was in depth right. No one's wrong here but you will be credible based on how you support your answer.

[gotbounty]

I personally think it will be very difficult and it might not be possible when Bitcoin can replace Gold at this time. We see that in terms of the world, it's different, Gold can be seen physically and can be traded anywhere even with the Online world. While Bitcoin is only done digitally and online. Another bitcoin price itself is still not stable, unlike Gold.

[LogiC]

I personally think it will be very difficult and it might not be possible when Bitcoin can replace Gold at this time. We see that in terms of the world, it's different, Gold can be seen physically and can be traded anywhere even with the Online world. While Bitcoin is only done digitally and online. Another bitcoin price itself is still not stable, unlike Gold.

Exactly. Hope the one created this thread locked it out now. I think responses are already fulfill rightful debate on this topic. Save this as reference just in case someone ask about again on this topic. Or move it to bitcoin discussion thread.

[smile.ps]

When calculating with money, their number is very important.  For example, if you pay gold for buying a house worth $ 200,000, you will need about 5.5 kg of precious metal.

 When calculating gold, you need to check its authenticity to make sure that it is really gold, and not a fake with metallic tungsten.  Gold must somehow be delivered to the place of settlement, and if it crosses the border, special charges must be paid.  To this we need to add the cost of currency conversion, since there are hardly many people who will take gold as payment.  This will add to the cost of another 10-15%.  Thus, if you buy a house for $ 200 thousand, which is located in another country, you will need about 1 kg of gold for an overhead charge.

 In turn, bitcoins do not need to carry anywhere.  They are everywhere where there is Internet.  The bitcoin is placed in a public ledger called a blockage and does not need to move anywhere.  The only thing that is required in order to "get" bitcoins from your wallet is a secret key that can be copied, memorized or written down.  When crossing the border, there is no need to pay any fees.  In general, it's up to the people to decide what is more interesting for them.

[wildanmr]

I think gold can't replaced with anything. Cryptocurrency OK. But bitcoin and gold were 2 different side. Each side hs each way.

[comer]

I don't agree with the OP, Gold can't be replace with bitcoin. Gold was precious and back up with real value in marketplace, central banks were treating gold as one of the biggest asset in a nation. Some countries currency was determined by the gold storage in the central bank. While bitcoin is just an imaginary value created by investors. The sole responsibility of btc or crypto price was the people involve to it.

[sampoerna]

It will be very difficult for Bitcoin to replace gold in the future. Because in fact, Bitcoin is used digitally and used only for the Digital world. Whereas gold is Real. Can also be done in the Online world, I think Gold can play anywhere, in contrast to Crypto. So it will be difficult for Crypto to replace gold.

[TERENCIO]

Bitcoin will never replace , as Gold never replace Fiat. Bitcoin price might be higher in future than gold but will never be as a replacement it can be called as Digital Gold and Gold has liquid asset that is traded daily in established exchanges.

[Stavr1992]

I think that this is possible, but not now. Now at least bitkoinu need to recover to 15000 USD