Why I don't believe bitcoin can replace gold

[Quantum X]

If there is one great product that challenges the position of gold that is bitcoin and we all in crypto community knows about it. There are opinions saying that bitcoin will replace gold and the reason I see in this opinion is because of its volatility.

The volatile culture which I called "the lucky charm of bitcoin" is what gives interest to investors and traders to believe they can make huge profit from it. But this lucky charm is also the bad luck of others and from them the gainers of bitcoin make profits. Well it's too obvious that coin always has two sides and so whoever invest in it is not free from risks.

Aside from risk bitcoin is just a product invented by anonymous gifted individual or a group and every manufactured matter can be replace by something greater in the future. This is what made me believe that gold can't be replaced by bitcoin.

Gold is a natural matter that holds irresistible value and can't be lose no matter how the world will become gold value remains. Here's one of my favorite about gold:

There are several factors that make gold a strong safe-haven asset. It’s valuable as a material for consumer goods such as jewelry and electronics, and it is scarce. Regardless of demand, supply remains disproportionately low. Gold cannot be manufactured like a company issues new shares, or a federal bank prints money. It must be dug up from the ground and processed.

And this one...

Gold usually performs well during corrections because even if it doesn’t necessarily rise, an asset that remains static while others decline is quite useful as a hedge. Plus, as more people flee stocks and invest in gold, the price rises accordingly.

From investopedia

[Msweet]

Thanks for your information. But I don't know about the area you are referring to when you speak about bitcoin replacing gold in the future, but let me try taking a shot at some of the different possibilities and let you decide for yourself.

[MrSpasybo]

Gold has become a global asset, surpassing any fiat because of its characteristics: limited supply, difficult to exploit, easy to verify, easy to split... However, many events have shown that gold also carries many risks such as it can be faked, such as the huge amount of gold in its reserves in China, or the cost of its mining is huge, even greater than Bitcoin.
I agree that Bitcoin still has a long way to go before it can replace gold as a store of value, even Bitcoin may never replace gold and they will exist together, but It can be seen that no one can fake the 21,000,001th BTC, and when 1 BTC = $ 1M, 1 sattoshi = 1 cent can still be used in daily payments.
I'm still waiting for the day all the gold in the world goes to electronic devices instead of being stored in warehouses

[Astra]

Bitcoin, of course, can never replace gold.  These are completely different and one might even say diametrically opposite financial assets in all respects.  The high price volatility of bitcoin is just one of the significant reasons why bitcoin is not like gold and cannot replace it.  Gold is characterized by high price stability.  Gold will not disappear under any circumstances, and bitcoin can disappear along with the Internet under various cataclysms.  Therefore, from other extinct civilizations, their gold reaches us, and not their bitcoins.

[sampoerna]

It is clearly said that Bitcoin will never replace gold. Bth BTC and also gold have their own project and also investment. Actually, mycelium is what I have. And additionally about the safe haven, I think that both gold and lso BTC right enough

[Quart]

I also don't believe if Gold will be replaced by Bitcoin because they are so different. Gold is a trusted asset for investment and it is a physical thing. While Bitcoin is a new digital asset and it is not a physical asset, it means it has a different field from Gold. How can they replace one another if they are not in the same category or not in the same field? 

[Quantum X]

~But It can be seen that no one can fake the 21,000,001th BTC, and when 1 BTC = $ 1M, 1 sattoshi = 1 cent can still be used in daily payments.

Yes it is. And I like this brilliant idea. Yet bitcoin is an easy opportunity of scammers to make some kind of clever ways to scam people in virtual world.

I'm still waiting for the day all the gold in the world goes to electronic devices instead of being stored in warehouses

This is one of a kind. Well humanity has unlimited idea and capable to make it real. And so if this will happen that would be the greatest success of gold in the history.

[Mbah Jenggot]

I think many people  still believe in gold,  becaus gold is global  asset and more stable  than cryptocurrency.  Bitcoin can replace  gold,  becaue  the volatility  of bitcoin make investors  worried.  I think It is normal. 

[ayatoslaw]

How can they replace one another if they are not in the same category or not in the same field? 

What kind of field do you mean? gold or bitcoin are the same in function, only difference is that gold has a physical form while bitcoin is not, but that doesn't mean it's different.
If you mean as an alternative payment, bitcoin is not suitable as a means of payment because of long transaction times and quite expensive transaction fees, and for this, altcoins appear as an alternative payment while bitcoin is a digital asset.

[Gubre]

Gold is a natural matter that holds irresistible value and can't be lose no matter how the world will become gold value remains. Here's one of my favorite about gold.

Although bitcoin is just created asset, we can't deny the fact that unlike gold bitcoin is the first virtual asset and just a small period of time the value has jumped into an unexpected reward.

[jakasantosa]

Aside from risk bitcoin is just a product invented by anonymous gifted individual or a group and every manufactured matter can be replace by something greater in the future. This is what made me believe that gold can't be replaced by bitcoin.

I think the simple reason why gold cannot replace Bitcoin is because not everyone in the world knows about bitcoin and not everyone has the equipment that supports bitcoin transactions.

[UNIVERSE]

Why there should be any statement " BItcoin will replace Gold"? I personally love both of them, BTC and also Gold are worthy enough., they are very worthy for both trading and also investment. They have big value and they are also same limited. So, they have their chance to go uptrend again and again.

[Blaze]

Bitcoin is never able to replace gold, but we must know that bitcoin can beat the price of gold because until now the least supply is bitcoin so it is likely that the price of gold will lose.

[trauchot]

The fact is that the price of gold cannot fall or rise so sharply, but the price of bitcoin can fall in several times or rise in several times in a matter of minutes, and I think this is the main reason why gold is better for investments than bitcoin, but if you want make money quickly, then, of course, you can make money on investments in bitcoin much faster, but investing in bitcoin is much more dangerous than investing in gold.

[Fadhilz123]

Gold has its own value, this is a real asset and of course, bitcoin can't replace it. Bitcoin was created it's not because want to replace gold.
I just don't know with people's minds why to discuss this. It's not relevant with bitcoin purpose