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Author Topic: Will Bitcoin Replace Gold as Store of Value?  (Read 30322 times)

Offline bitjudge

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #30 on: May 03, 2019, 08:15:35 PM »
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.

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #30 on: May 03, 2019, 08:15:35 PM »

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Offline Lucky100

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #31 on: May 05, 2019, 01:35:00 PM »
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.

Offline bitjudge

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #32 on: May 05, 2019, 03:38:33 PM »
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.

I did not compare Bitcoin with gold. I answered the start post. Probably, you need to read the startpost to understand what is going on.

Offline mimikri

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #33 on: May 05, 2019, 04:30:02 PM »
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.

Even without analyzing these factors, it is evident that something virtual cannot replace the physical thing. No, it cannot do it.
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Offline Pegasus

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #34 on: May 05, 2019, 05:10:38 PM »
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. 

Offline May

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #35 on: May 05, 2019, 06:53:11 PM »
Keep in mind, Bitcoin is better because it is digital, not physical, or heavy to carry, and easily accessible throughout the world. There is an opportunity for bitcoin to replace gold in the future because the world will be digital. Bitcoin is a store of digital value while gold is physical, heavy to carry, and not easy to move.
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Offline mlawson71

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #36 on: May 06, 2019, 04:23:16 PM »
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.

Gold has proven its staying power over several millenia, rather than several decades.
Bitcoin is popular, that's for sure, but time will tell whether the two can be even remotely compared.

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #36 on: May 06, 2019, 04:23:16 PM »


Offline squadus

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #37 on: May 06, 2019, 06:18:56 PM »
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.
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Offline Alcor

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #38 on: May 07, 2019, 05:43:26 AM »
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.

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Offline Jayde

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #39 on: May 07, 2019, 12:58:29 PM »
Soon Bitcoin will replace Gold but first it needs more stable than the current, something like ETF Bitcoin could solve this problem

               

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Offline zilzylian

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #40 on: May 08, 2019, 11:53:28 AM »
Will Bitcoin replace Gold?
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

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Offline hope167

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #41 on: May 09, 2019, 05:52:31 AM »
i think it's hard to happen, because the gold is the properties can not be replaced, the gold is trading in over the world, after the Dollars the gold is hold more in the world
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Offline Stuart

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #42 on: May 09, 2019, 07:42:09 AM »
Scientists Turn Copper into ‘Gold’ — Will Bitcoin Replace as Store of Value?



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?



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/


To me, there is a big distinction between Nature and Digital. Bitcoin can be a store of value to those who uses the internet and understands the risk behind it, but those who still believes in gold as a natural precious stone will continue to keep it as their store for value. Lots of elderly men(men of age) will never believe that bitcoin can be as precious as gold, cause they knew what its value is. Bitcoin is a store of value to the new age generation, and to the world of technology. For me, I'll take both sides, cause gold is a precious stone of nature, and bitcoin is of the new age.

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #43 on: May 09, 2019, 12:30:30 PM »
I wonder how Bitcoin can replace gold as a means of preserving value? And then what will happen to the gold itself? Really thrown in the trash as useless? I already felt funny when I introduced it.
Can you imagine if the events of 2017-2018 will be repeated again, but at a higher level ?. Bitcoin will grow, say, to 40,000 dollars and, by analogy with the beginning of 2018, will fall in the price of a correction to 12,000 dollars. What do you explain to bitcoin holders where a reliable means of preserving value has gone. It is necessary, apparently, to climb the dustbins and pick up their gold there again.

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #44 on: May 10, 2019, 11:59:18 AM »
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.
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.
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.

While #bitcoin does not offer ornamental advantage, it has it’s own inherent advantages such as payment processing or data redundancy along with smart contracts. Additionally, #bitcoin is also designed to be scarce in nature allowing it to be a good alternative asset class to hold your wealth. For sure, #bitcoin is a competitive asset for ‘store of value’ currently to gold and it may optimistically surpass the volumes of investments in gold reserves in the near future.

Therefore it is no surprise if #bitcoin replaces gold to be the new ‘Gold Standard’.

 

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