Will Bitcoin replace Gold someday?

[@chison]

They are of different assets. The store of value for bitcoin is different from Gold. As gold is always a precious metal that will Be adorned and religiously follow. If you look at Bitcoin half the world are yet to know about it. Even when they do not all will accept it as a store of value.

[hushpupppy]

The truth is that, bitcoin cannot replace gold. Bitcoin is more of an investment option, while gold is a store of wealth. Bitcoin will remain volatile and continue to experience pumps and dumps. While GOLD will remain dominant as it as always been as a store of  wealth for the longest time,

[Jaguar]

If bitcoin would be number one acceptance cryptocurrency in  globally then bitcoin can replace gold.

Even Bitcoin adopted globally it cannot replace gold. Gold uses is necessary for those who are living materially. In addition it is material that you can mine and hold not like bitcoin just exist in untouchable world. Both Bitcoin and Gold is good to invest on its own place of dominance.

[shadowdio]

I don't think bitcoin will replace gold someday you know bitcoin is a virtual currency and it has limited supply(it can go zero price if no more supply to mine) and very volatile, whereas gold is a physical item and the price will keep increasing.. Both has differences but you can make money if you invest.

[gunhell16]

You know what, Bitcoin and Gold are not the same, because Gold was a physical asset while bitcoin is a virtual asset. Moreover, Bitcoin also is not intended to replace Gold, instead, Bitcoin was made by Satoshi to give everybody financial freedom someday via online marketing business based on my understanding about this matter anyway.

[Hope4life]

Bitcoin will not replace gold, bitcoin was not created to compete with gold. Bitcoin is fundamentally a currency of freedom and transparency, it was originally created as a means of transactions without boundaries and obstacles. Gold has a physical form while bitcoin is virtual, the two are different.

[syedrasool2011]

I appreciate your enthusiasm on cryptos, but Bitcoin will never replace gold.  Gold in itself has unique properties which makes it valuable.  Bitcoin is in essence is a derivative of gold and other precious and industrial metals that comprise of the mining rigs running the crypto networks.I do agree that gold and silver have intrinsic properties that give them value.  When there is more demand to manufacture mining rigs and mobile phones, there will be more demand for the likes of gold, silver, copper, etc.

[edmundo]

I don't see this happening. It will be difficult to replace gold due to its relevance in several other sectors. Its applicability on jewellery making and store of value to several central banks around the world also makes it difficult to replace. Replacing gold with bitcoin will mean a total dislodging of traditional banking systems and beliefs which will be nearly impossible to achieve.

[xiboothrezi]

I don't see this happening. It will be difficult to replace gold due to its relevance in several other sectors. Its applicability on jewellery making and store of value to several central banks around the world also makes it difficult to replace. Replacing gold with bitcoin will mean a total dislodging of traditional banking systems and beliefs which will be nearly impossible to achieve.

Moreover, gold has been used for a long time, a strong investment product with good price movements. Gold and bitcoin both have advantages and disadvantages, take advantage of the opportunities that exist and use them to maximize profits, instead of having to choose one, right?
Everyone must have their own views regarding investing, bitcoin does provide a faster profit opportunity because of its fast price movements, but the risk is also great.

[jonathancool220]

I am very confused for Bitcoin to beat gold because Bitcoin has a different role to play with gold.
Gold is the property of all who has physical property and Bitocin is the property of someone who does not have it.

But for this Bitcoin price problem is very expensive and gold feels cheaper when compared to the price of 1 Bitcoin for 1 gram of Gold.

[flyaccount]

I think Bitcoin is still not able to replace gold. because this gold has a fairly small risk. while bitcoin haganya too easily goes up and down, so the risk is too great.

[fgh]

I think bitcoin will never completely replace gold. Gold has unique properties. This is a fairly simple thing. Gold is not subject to the risk of technological obsolescence. Gold, unlike bitcoin, will never become obsolete. There is simply nothing to be outdated. Gold is not at risk of hacker attack. You cannot match a private key to gold. Even if you try very hard.

[gotbounty]

One day I believe Bitcoin will be able to compete and even replace Gold. Currently many people join Bitcoin, they think Bitcoin will be able to bring big profits faster than gold, even with great risks. And there will be more and more people who think like that as Crypto grows older. So that the longer the gold can be rivaled by Bitcoin.

[Condorlaib]

In my opinion, the only time gold and Bitcoin will become real competitors is when Bitcoin will be a stable storage for every user. Today, the volatility of bitcoin negates these opportunities.

[Rokis]

Bitcoin and gold are very different. Gold is a physical asset. I think that gold will continue to exist, but bitcoin is becoming more relevant in the digital world. Gold is not as attractive as it used to be.