Bitcoin is a new discovery, just 10 yaers, it may be too early to tell. I think in the next additional 10 years we boldly conclude that Bitcoin might replace Gold.I don't think that gold will be replaced that easily. And bitcoin is not invented to become store of value but to use as a payment around the world. The main focus of this technology is to send money in a blink of an eye.
If the market gets more mature, and may be with regulations plus more attention, it can become an important place for investors to place their funds instead of gold.
When Bitcoin becomes more popular and stable, it will replace Gold as a store of value too, but there is still a long way to go ahead waiting for Bitcoin. The first step of Bitcoin I think it will replace the current fiat system.In order for Bitcoin to replace the existing system of ordinary currencies of various states, a corresponding decision of the government and, as a rule, the legislative body of this state is needed. However, no government will ever decide to abandon its national money in favor of cryptocurrency and thereby destroy its economy.
if in my opinion we can say that bitcoin can replace gold. because now there are so many people investing in bitcoin rather than investing in gold.The price of bitcoin in a few days may fall to the level of actual depreciation. With gold this can not happen. Gold has always been, is and will be a stable repository of value. With regard to Bitcoin, this cannot be said. Therefore, Bitcoin will never replace gold. He is simply not capable of this.
To assess how artificial "gold" will replace the present, you need to analyze a lot of factors.
First, it is not known what share of the industrial gold consumption market is occupied by equipment, where catalytic reactions are applied. That is exactly the equipment for which artificial "gold" is required.
Secondly, it is likely that this equipment will need to be reworked so that it can use artificial "gold" instead of the present. These are trillions of dollars in industry.
In short, here I can write a few pages of arguments that artificial "gold" will change the market, perhaps in 10 years or more. Or never.
And while I’m going to talk about it, I’m not ready to mention Bitcoin. Therefore, I will stop now.
To assess how artificial "gold" will replace the present, you need to analyze a lot of factors.
First, it is not known what share of the industrial gold consumption market is occupied by equipment, where catalytic reactions are applied. That is exactly the equipment for which artificial "gold" is required.
Secondly, it is likely that this equipment will need to be reworked so that it can use artificial "gold" instead of the present. These are trillions of dollars in industry.
In short, here I can write a few pages of arguments that artificial "gold" will change the market, perhaps in 10 years or more. Or never.
And while I’m going to talk about it, I’m not ready to mention Bitcoin. Therefore, I will stop now.
We must not compare BTC with gold. Bitcoin is affected by many things (negatively). If you do not have the Internet, you will not have it. Gold is stable.
To assess how artificial "gold" will replace the present, you need to analyze a lot of factors.
First, it is not known what share of the industrial gold consumption market is occupied by equipment, where catalytic reactions are applied. That is exactly the equipment for which artificial "gold" is required.
Secondly, it is likely that this equipment will need to be reworked so that it can use artificial "gold" instead of the present. These are trillions of dollars in industry.
In short, here I can write a few pages of arguments that artificial "gold" will change the market, perhaps in 10 years or more. Or never.
And while I’m going to talk about it, I’m not ready to mention Bitcoin. Therefore, I will stop now.
Rarity is the similarity between bitcoin and gold. But just because of they have that in common doesn't mean that they can replace each other. Gold has been recognized and proven through several decades meanwhile bitcoin has just celebrated its ten-year old birthday. Bitcoin can't possibly replace gold at least for now and in the near future.
I think Bitcoin will complement Gold nicely as a dependable store of value. Gold is held in physical form and is mined from the mountains of planets, while Bitcoin is based on mathematical trust and can only be mined once. It is based on the invention of the blockchain so I think both are dependable assets for a store of value.It seems to me that Bitcoin is not only incompatible with gold, but it cannot be considered a reliable repository of value at all due to its high price volatility. Ask those who bought Bitcoin at the end of 2017 whether they believe that Bitcoin is a reliable repository of value, after the price of Bitcoin fell by 70 percent for several months and they suffered great losses. Or explain to them where their funds disappeared from a reliable repository of value.
Scientists Turn Copper into ‘Gold’ — Will Bitcoin Replace as Store of Value?
(https://i.imgur.com/fdZ9hv4.jpg)
According to a new paper published in a peer-reviewed scientific journal, researchers in China have made a groundbreaking discovery that could profoundly impact the face of the precious metals landscape — and provide bitcoin with an opportunity to shine.
Scientists Turn Copper into Substance ‘Almost Identical’ to Gold
Per SCMP, a team of scientists at the Dalian Institute of Chemical Physics at the Chinese Academy of Sciences in Liaoning have developed a method to turn cheap, plentiful copper into a substance that is “almost identical” to gold, accomplishing what alchemists have for hundreds of years believed could be a gateway to endless riches.
Lest anyone protest that this sounds like something out of the National Enquirer or one of the more fantastical medieval travel narratives, the study was published in the peer-reviewed journal Science Advances, and the methodology relies on chemical reactions rather than secret incantations.
To create the pseudo-gold, the scientists shot a payload of hot, electrically-charged argon gas at a target made out of copper. The ionized gas particles dislodged copper atoms from the target, and these atoms fell onto a collecting device where they cooled off into a pile of microscopic sand — each grain just a few nanometers in size.
The scientists then tested the properties of these copper particles by using them as a catalyst in a chemical reaction to turn coal into alcohol. Confirming their research, they found that the nanoparticles “achieved catalytic performance extremely similar to that of gold or silver,” Sun and the other researchers wrote, explaining that it can resist high temperatures, oxidization, and erosion much better than standard copper.
Will Bitcoin Replace Gold as Store of Value?
(https://i.imgur.com/h7BOX2I.png)
This scientific development raises the question of whether the gold standard of economic hedging could soon lose its luster, forcing gold bugs and other stock market bears to turn to alternative assets. Could this give bitcoin an opening to become a mainstream store of value?
Though proponents frequently cite bitcoin’s utility as a successor to the yellow metal, the answer remains no, at least for the foreseeable future.
Sun and the other researchers explained that, at least in its current incarnation, the process could not practically be used to create counterfeit gold coins or bars since its density remains the same as normal copper.
Nevertheless, anticipating future improvements in the methodology, ordinary retail investors who purchase precious metals for speculative purposes could be taken in by this pseudo-gold if significant quantities ever exit the industrial sector and are repurposed by counterfeiters. This would exacerbate a longstanding problem in precious metals investing, potentially weakening consumer trust in bullion as a store of value.
Moreover, even the production of this pseudo-gold for its intended purpose — industrial applications — could have a significant impact on the value of the true yellow metal. While the vast majority of gold demand is speculative, the material also plays an important role in the production of electronic devices, a fact that crypto skeptics often cite when objecting to the thesis that bitcoin is “digital gold.”
At the very least, the material’s replacement in industrial manufacturing should place equivalent downward pressure on the gold price, though it’s likely that psychological factors would further weaken investor confidence and steepen the asset’s decline.
Consequently, this and other new threats to gold demand, coupled with future improvements in cryptocurrency adoption and technological development, could over the long term provide a gateway toward bitcoin finally becoming a real store of value rather than just a moonshot purchase.
https://www.ccn.com/scientists-turn-copper-into-gold-will-bitcoin-replace-as-store-of-value/
Bitcoin is a new discovery, just 10 yaers, it may be too early to tell. I think in the next additional 10 years we may boldly conclude that Bitcoin might replace Gold.Gold exhibits two different use cases built upon its intrinsic value and scarcity. Gold is used for ornamentation due to the inherent properties it provides such as malleability and shine. Gold is also used as a store of value to hold wealth because of the scarcity.
If the market gets more mature, and may be with regulations plus more attention, it can become an important place for investors to place their funds instead of gold.
~snip~ bitcoin doesn't have a real form that is owned by gold. So bitcoin can only be seen in its value but not in its form. So in my opinion bitcoin remains as itself.
Will Bitcoin replace Gold?Completely agree with you. Bitcoin can never replace gold with it. These are completely different assets that are not comparable with each other. In addition, as a value repository, Bitcoin, after all, loses to gold, since gold is always relatively stable in its price, and Bitcoin always has high price volatility.
I think that won't happen because gold has a beautiful physical form and has long been used in the kingdom, while Bitcoin has a better price than gold but has no real form. I like both but both have advantages and differences
Conversely, BTC is very volatile.
After the recent rise almost doubled, I now begin to think that bitcoin can do anything)
I think everything is possible, why not, the cryptocurrency sphere is developing very quickly and is used in almost all areas, and bitcoin is very interesting to many investors, and when governments will start to legalize bitcoin, then everything will be possible.
I think it's also like that that bitcoin will be able to replace gold to save the assets they have, because bitcoin has a speed of price increase.
Bitcoin will not replace gold, but will be no less valuable in the future, since its quantity is limited. Bitcoin should be considered as a serious investment for long-term.
Bitcoin will not replace gold, but will be no less valuable in the future, since its quantity is limited. Bitcoin should be considered as a serious investment for long-term.
It is interesting, how can you even suppose that Bitcoin can replace gold as a means of preserving value if it has such a high price volatility? Today the price will rise, tomorrow will fall. How can one hope to preserve the value? Even if, after a while, it rises in price to $ 20–30,000, then it is possible that, as a result of the occurrence of panic, it may sharply drop again in price to several thousand or even. hundred dollars. Where then will his repository of value?This is, of course, a good question and always remains unanswered. The high price volatility of cryptocurrency will always be a big obstacle to its use as a store of value, that is, digital gold. While bitcoin as a whole is growing in price, this can still be discussed. However, sooner or later, this growth will stop, and high price volatility will remain. Therefore, I am not inclined to think of Bitcoin as digital gold. Gold has always been valued for its price stability.
Per SCMP, a team of scientists at the Dalian Institute of Chemical Physics at the Chinese Academy of Sciences in Liaoning have developed a method to turn cheap, plentiful copper into a substance that is “almost identical” to gold, accomplishing what alchemists have for hundreds of years believed could be a gateway to endless riches.This is one of the best I've ever heard and very surprising. Who would think that this is possible and yet curiosity from this people who never relied their limitation discovered unusual way that leads to unlimited riches.
I can't convince myself to reply to posts from this thread because now Bitcoin prices are very different from Gold.
But for the Gold capitalist problem, it is very far from the Bitcoin market.
Maybe it's better for both of these to have, so maybe 50% for gold and 50% for Bitcoin and this will be more promising for all of us.
I agree mate, If we have free money, It is better to spread at gold and bitcoin. Gold is more stable . Bitcoin is more profitable ,but more risky. I don't think bitcoin can replace gold as store of value at the few years again. Maybe when digital era come , It could happen.
I think it is impossible because until now there are still many people who choose gold as a future saving asset because it has a physical nature and can be stored directly in our hands.
I think it is impossible because until now there are still many people who choose gold as a future saving asset because it has a physical nature and can be stored directly in our hands.
Yes I agree with your opinion, many people who choose gold as a future saving asset. Gold is real investment and bitcoin is digital currency. So I think bitcoin willnot replace gold as store of value. Thats my opinion mate, It is really difficult and will take several years again.
Bitcoin will never replace gold, nor is it capable of that. These are completely different financial assets and they may well exist together without replacing each other. Besides, the current high price of bitcoin is not a reason to compare it with gold. Bitcoin has a lot of price volatility. Even for this reason, it cannot be compared with such an eternal value as gold.
~ I think Gold is most popular for investment, It is real assest. Bitcoin is digital asset., I don't think bitcoin will replace gold at the coming future. They are different thing. That's my opinion.
There are doubts about whether Bitcoin will be able to replace gold in the future. Because the importance of gold is much higher all over the world. However, despite the fact that Bitcoin is popular all over the world, it is not very popular among the people. So the maximum amount of investment is on Gold.
Bitcoin is a digital assets where Gold is physical assets. Both are different in nature. We need both type of assets (digital and physical) to cope with the present world even future world. No one is competitor of each. Both can be used as a savings of life.
Bitcoin will be more valuable than gold in the future. Bitcoin is growing in popularity and demand worldwide. Every country has Bitcoin users. Bitcoin transactions and investments are very successful. However, the current situation of Bitcoin is much better.
Bitcoin will be more valuable than gold in the future. Bitcoin is growing in popularity and demand worldwide. Every country has Bitcoin users. Bitcoin transactions and investments are very successful. However, the current situation of Bitcoin is much better.
Bitcoin will be more valuable than gold in the future. Bitcoin is growing in popularity and demand worldwide. Every country has Bitcoin users. Bitcoin transactions and investments are very successful. However, the current situation of Bitcoin is much better.
It's true that Bitcoin is high in value and also its return on investment is higher than gold, but the secure investment is Gold not BTC because BTC can be dumped anytime while Gold is stable.