Is Bitcoin Cash or Gold now?

[MrSpasybo]

When Bitcoin was created by Satoshi Nakamoto, Bitcoin was seen as an alternative to fiat that was heavily manipulated by the government. And the first official Bitcoin transaction as payment: 10K BTC for two pizzas. However, over time, under the influence of the media, of economic volatility, of the halving event, Bitcoin price has risen rapidly and is currently 1 BTC = $50K. Even according to PlanB's Bitcoin stock to flow model, Bitcoin price could reach $1M after the upcoming halving in 2024: https://decentrader.com/charts/stock-to-flow-model/

As such we will be very difficult to use Bitcoin in daily payments. I know that if BTC price reaches $1M, 1 satoshi = 1 cent, still completely meets the need for payment, but the transaction cost will also be huge, not just about 25 USD/transaction as currently. SegWit/Lightning Network is not currently able to help reduce the BTC transactions fee.

It can be seen that the higher the Bitcoin price, the farther Bitcoin is from the payment feature.

Now, when we fear that our current Bitcoin spending will turn into huge regret in the future, we can only consider Bitcoin as an asset to invest or to reserve, or to pay for large amounts between corporations and between countries. So Bitcoin is closer to gold than to cash.

Currently, the definition of "Bitcoin is digital gold" is widely accepted and makes Bitcoin more understandable to the community.

So is this the time for us to accept a new existing value of Bitcoin: gold, not cash? Do you think Bitcoin is ready to hand over the mission of cash to altcoins, including BitcoinCash, to become digital gold of global economy?

[krypto4uvak]

I really want bitcoin to have such a high price, and in principle I am now glad of what is happening on the market and I am already looking forward to 2024.

[Ferki]

I find the topic very good and hopefully educational for those who are currently dealing with cryptocurrency.
I wanted to open a similar thread myself, but I'm still glad that there is one now. +1
#reward

In my opinion, Bitcoin serves us precisely as a kind of value preservation and an asset.
Because what are the big institutional and traditional companies doing right now?
They all have one goal: achieving the optimum balance between yields and value preservation. Sure, they can take Gold as an asset, but some have chosen Bitcoin.
You can leave the money in the bank, but you hardly get any interest on it at the moment.
Stocks are a great alternative, but they are overvalued and risky right now. What is left besides real estate?
Bitcoin, of course!
And I've already written that somewhere, the earlier you understand that, the more you will benefit from it.
Bitcoin is a long-term investment and you shouldn't be blinded by volatility.
 There is no long-term stability without short-term volatility.(I love this sentence)

[bmw1]

Bitcoin is a coin that is very valuable, Bitcoin is now compared to gold. Because bitcoin is much more expensive which is equivalent to gold. Anyone who has bitcoin I think has gold because the price of bitcoin is going up a lot. And the future will move towards improvement, then the price of bitcoin will increase and so will the huge amount of cash so it can be said that bitcoin is better than gold, asona is much better which helps people to improve so it can be said that selling city trouble is gold.

[Zed0X]

~ SegWit/Lightning Network is not currently able to help reduce the BTC transactions fee.

Technically, they do. It's just that people do not use LN that much. Segwit also increased the capacity of Bitcoin network but there are still people who are willing to pay higher. Not to mention centralized platforms inflating the fees they charge to their users.

So is this the time for us to accept a new existing value of Bitcoin: gold, not cash?

This is not the only time we've seen transactions fees spiked over the Bitcoin blockchain increased due to network congestion. There are some who have long accepted that BTC is a store of value and there are more who still thinks it's both an investment asset and a currency.

Do you think Bitcoin is ready to hand over the mission of cash to altcoins, including BitcoinCash, to become digital gold of global economy?[/color]

Bitcoin doesn't need to hand over anything. It is the people who uses these cryptocurrencies that will decide which coin/token they prefer.

[Newron]

Bitcoin is a virtual currency. The identity is kept secret while transacting this currency. The price of this bitcoin is determined based on the purchase and sale of bitcoin. There is no interference from anyone. Bitcoin is not a coin like gold it is just a virtual coin.

[Carbitcoin]

Bitcoin is a virtual currency. The identity is kept secret while transacting this currency. The price of this bitcoin is determined based on the purchase and sale of bitcoin. There is no interference from anyone. Bitcoin is not a coin like gold it is just a virtual coin.

Today, despite the fact that Bitcoin does not have a physical shell, it is still on a par with gold and cash, and also has its own value, which in many cases even surpasses other analogues of valuable assets.

[CriptoLH]

So it is, even now bitcoin has too much commission to use it for payments, and the further the price of bitcoin increases, the higher the commission will be. Therefore, most people choose bitcoin as a high-yield asset that will bring more income than investing in gold.

[yohananaomi]

So it is, even now bitcoin has too much commission to use it for payments, and the further the price of bitcoin increases, the higher the commission will be. Therefore, most people choose bitcoin as a high-yield asset that will bring more income than investing in gold.

both are certainly good investments, the difference is that one is shaped and one can be seen but cannot be touched / felt.
but it is true that the more bitcoin price increases, the commission that must be provided is also quite high, this is a form of cause and effect that cannot be avoided.

but it is clear that bitcoin is still a sought-after asset and is very attractive because the price can change very high and one day it can also fall lower. and this is where our intelligence is tested in order to get a profit, by analyzing and being patient in doing when to buy and sell it.

obviously bitcoin has been tested and is still far profitable for investment compared to gold, only the defeat of bitcoin cannot be displayed and exhibited to others what gold can do to show that we have hidden treasure in that gold.

[Ferki]

Here I have a comparison of the assets for you.

The thing is clear, right?







Source: https://charts.woobull.com/bitcoin-vs-gold/

[MrSpasybo]

~

Thank you for reading my topic very thoroughly and giving me very clear answer!
So in your opinion, will the market determine for itself the true value of Bitcoin is cash or digital gold? Personally, I feel that Bitcoin is becoming too expensive and too difficult to use like cash, it is bought by people to invest and hoard like they are doing with gold.

Here I have a comparison of the assets for you.

The thing is clear, right?

It seems that the Bitcoin boom eclipses the sparkle of gold in terms of investment returns ^^

[Angel jara]

The rate at which Bitcoin's name is growing is unimaginable. Bitcoin is the most significant of our valuable assets. Bitcoin is much more expensive than this gold. Bitcoin is currently trading at over 50,000. Bitcoin prices are rising more and more over time.

[sair786]

The rate аt whісh Bitcoin's nаmе іѕ growing is unimaginable. Bіtсоіn іѕ thе most ѕіgnіfісаnt оf our vаluаblе аѕѕеtѕ. Bіtсоіn іѕ muсh mоrе expensive than thіѕ gоld. Bіtсоіn іѕ сurrеntlу trading at оvеr 50,000.

[Ferki]

The rate аt whісh Bitcoin's nаmе іѕ growing is unimaginable. Bіtсоіn іѕ thе most ѕіgnіfісаnt оf our vаluаblе аѕѕеtѕ. Bіtсоіn іѕ muсh mоrе expensive than thіѕ gоld. Bіtсоіn іѕ сurrеntlу trading at оvеr 50,000.

That is a bit off, but that comes from adding the different sentences together. Such a pity 

[gotbounty]

I am not a fan of both Bitcoin cash or even Bitcoin gold. However, if choosing one of them, I think that I will prefer Bitcoin cash if seen from the market cap and also liquidity. In this case, I still prefer to choose Bitcoin at first of course. And some may be the top altcoins like TEH. BNB, ADA, XLM, and also DOT