Will Bitcoin replace Gold someday?

[bmw1]

Yes it is certain that Bitcoin will one day replace gold. Moreover, in 2016, there was a big change in the currency, the price went up to 20 thousand dollars. However, it did not take long for that price to come down. In December 2016, the price dropped to ২০০ 3,200.
Bitcoin prices have been rising since the Corona epidemic began. In 2020, the price of digital currency has increased by 300 percent. Not only Bitcoin, but other digital currencies are also rising in price. Ethereum is the second most widely used digital currency after Bitcoin. In 2020, the price of this currency has increased by 465 percent.
Analysts believe that financial institutions are turning to bitcoin as an asset. Bitcoin users feel that Bitcoin is taking the place of gold as an asset. Analysts have speculated that the US dollar may depreciate in 2021, with fears that Bitcoin could rise further this year. At the start of the Corona epidemic, investors leaned towards the dollar to find reassurance amid uncertainty. This increases the value of the dollar. But later the dollar fell due to several incentive packages. As well as the acceptance of Bitcoin has increased as transactions or payment gateways like PayPal have now started accepting digital currencies. Paolo Ardiono, chief technology officer at cryptocurrency exchange Bitfinex, told The Guardian: "The digital currency market has never seen such a boom. As a result, the future of Bitcoin owners is very bright.

[Dark Knight]

Bitcoin and Gold are two very valuable assets.But now in the digital age, people value bitcoins more than gold.Because Bitcoin is a digital currency while gold is a real substance.The price of Bitcoin fluctuates and the price goes up and down, but the price of Gold stays the same.But now that the price of Bitcoin is declining, it seems that Bitcoin will replace Gold.

[Astra]

Bitcoin and gold are so different from each other that it seems that they are exactly opposite financial assets. They have completely different tasks and functions, so they both have enough space in our world. Of course, they are not even capable of replacing each other. This question has already been raised repeatedly and it is time to understand that people need both cryptocurrency and gold.

[CryptoStar19]

As a store of value? Definitely, it's just a matter of time... but can bitcoin ever replace gold, the metallic element we use in jewelry or electronic contacts, certainly not.

[doc]

In these times of turmoil, Gold is reaching new ATHs in price. But Bitcoin doesn't leave behind. With a limited supply of only 21 million coins, hardened security, and a focus on decentralization, Bitcoin is often viewed by many as the successor of Gold. One of Bitcoin's greatest benefits on top of Gold, is portability. You can virtually carry your Bitcoin with you safely when travelling, without anyone noticing. That's not the case with Gold, as you'd need to carry physical bullion with you. Other than portability, Gold and Bitcoin are very much alike.

Do you think that Bitcoin will be able to replace Gold someday? As we shift into the "intangible" world, people will "ditch" physical stuff in exchange for digital items. Bitcoin can become the new digital Gold which serves as a safe-haven asset (store of value) in times of need. Thoughts? 

Yes, I think bitcoin will replace gold someday. But It might be happen at the next several years again.
Bitcoin  popularity will increase day by day and can compete to gold.
Because gold is most popular and really have biggest fans.
Hopey digital era will come soon.

[Emma Glory]

There will be no replacement for gold with Bitcoin. There is no intrinsic value to Bitcoin other than hype, and it is not stable. Crypto currency Definition of CURRENCY or commodity Definition of COMMODITY. There has always been a value to gold that has lasted for thousands of years, and this value will also remain

[legend45]

In these times of turmoil, Gold is reaching new ATHs in price. But Bitcoin doesn't leave behind. With a limited supply of only 21 million coins, hardened security, and a focus on decentralization, Bitcoin is often viewed by many as the successor of Gold. One of Bitcoin's greatest benefits on top of Gold, is portability. You can virtually carry your Bitcoin with you safely when travelling, without anyone noticing. That's not the case with Gold, as you'd need to carry physical bullion with you. Other than portability, Gold and Bitcoin are very much alike.

Do you think that Bitcoin will be able to replace Gold someday? As we shift into the "intangible" world, people will "ditch" physical stuff in exchange for digital items. Bitcoin can become the new digital Gold which serves as a safe-haven asset (store of value) in times of need. Thoughts? 

I think not easy bitcoin will replace gold some day. Gold is most popular for investment. People still believe in gold than bitcoin.Thats fact.
But several young generation already invested in digital currency like bitcoin. So let's see,  will bitcoin replace gold ?

[eldial]

I think it will not happen bitcoin replace Gold someday because in the market most of the people joined in cryptocurrency is too familiar in bitcoin but in terms of using a gold and the people will encouraged to motivate the bitcoin regularly stated.

[CryptoStar19]

There will be no replacement for gold with Bitcoin. There is no intrinsic value to Bitcoin other than hype, and it is not stable. Crypto currency Definition of CURRENCY or commodity Definition of COMMODITY. There has always been a value to gold that has lasted for thousands of years, and this value will also remain

No intrinsic value is needed for something to be valuable. For example the dollar has no intrinsic value... you can't eat it, there is no precious metals in a dollar bill, etc. It is only valuable because the government says it is and because people agree. It is this agreement between people that something is valuable that makes it valuable.

With bitcoin, already everyone who understands it agrees about its value but the number of people who know about it and understand it is still a tiny fraction of the world... as this knowledge distributes to more and more people the perceived value can only be so much larger than now because there won't be that many more bitcoins as we go from %0.1 of the world population knowing about it to 1% to %10 and beyond.

We are just at the beginning with crypto, with bitcoin.

[mlawson71]

Bitcoin cannot replace the practical applications of gold though. You can't make a cellphone parts of it, nor put it in your teeth.

[CryptoStar19]

Bitcoin cannot replace the practical applications of gold though. You can't make a cellphone parts of it, nor put it in your teeth.

Indeed. The comparison between gold and bitcoin is only in terms of their current narratives as stores of value and hedges against inflation.

[Proton]

I think that, bitcoin is superior to gold in almost everything: divisibility, verifiability, confiscability, transportability, transferability, inelastic scarcity...
Bitcoin is just superior store of value.

[Stuart]

Taking the point that btc might be of more value than gold could be possible over time, but replacing it does not really have any effect, cause they are both two different assets and differ in their uses of place of value. In the digital world, btc can be transferred without anyone knowing what is happening, but that of gold, there have to be some security men around to stand as to avoid kidnapping or something of such. 

[KaliLinux]

I wouldn't use the word Replacing Gold as both are two different entities even though we see them as tradeable commodities. In terms of price, I would say Bitcoin will certainly overtake Gold if they could be measured in the same unit but both serve a different purpose and I really don't see people totally leaving Investing in Gold for just Bitcoin.

[TopT3ns]

bitcoin will never be able to replace gold because until now only gold can survive and of course gold still has a very high demand so gold will still survive and can beat bitcoin because until now when there is a dump in bitcoin the price of gold is still remain stable.