Is Bitcoin a Digital Gold?

[Max99]

After reading a lot of posts made by people on this forum, I realized about 75% of them see Bitcoin as a digital Gold. For me, I don’t think Bitcoin is a digital gold. Cryptocurrency or Bitcoin to be precise, was developed to be a safer option for transaction of goods and services and also the best mode of payment. Bitcoin was introduced to disable all the restrictions that banks and the financial system presented. A lot of people have lost huge sums of money because they saw bitcoin as a digital gold. I know others will argue that bitcoin has also made people rich but for me, I don’t think it is advisable to consider Bitcoin as a digital gold. Bitcoin is a digital currency.

[TiffanyLien23]

I agree of it. Bitcoin is not really a digital gold but it is a digital currency which is keeping on compari g to the value of gold. But now as we can see, the bitcoin value was keep on decreasing or unstable its value compared to gold. That was only my opinion and base in my own analysis.

[masudginanjar]

I agree of it. Bitcoin is not really a digital gold but it is a digital currency which is keeping on compari g to the value of gold. But now as we can see, the bitcoin value was keep on decreasing or unstable its value compared to gold. That was only my opinion and base in my own analysis.

If Bitcoin is for Currency, then I don't agree, because if Bitcoin becomes a currency then Bitcoin must also have a country.

Bitcoin can be said to be the most appropriate is digital assets.

[Master107]

Bitcoin is not digital gold but it is a digital currency whether you like it or not. It is more about virtual currency which is a sign of some positive views that cryptocurrency will become more stronger and recognized.

[UNIVERSE]

Some people say bitcoin is digital gold. Called gold because the color is like gold or it could be because bitcoin can be an alternative investment like gold. I think the two reasons are more precise so bitcoin is digital gold.

[Alcor]

To be called digital gold, bitcoin must first have a price stability of gold. This bitcoin, it seems, will never be. Bitcoin and gold are practically disparate and diametrically opposed things. Bitcoin is compared to gold, because it also has a function of accumulating value, and besides, it grew quite well in price, which made people use it more as a means of accumulating value, rather than as a means of payment. However, all this is temporary. We already see how he can turn into digital dust in just a few days from digital gold. And gold has always been and will remain gold.

[Bit]

For me, Bitcoin is a virtual currency. I conclude it as a digital investment. To be stated as a digital gold, I think it should be experienced in more observation. 

[Crypto Guard]

I think free people call bitcoin with digital money or digital gold. Called digital money because transactions can be used for bitcoin. And it's called digital gold because bitcoin can function as a digital asset.

[Judybrown]

Bitcoin can be called a digital  gold because it can give a lot of profit. Gold mining has a lot of money and has been producing a lot of profit. That is how exactly Bitcoin is, it is a digital currency that can give a lot of profit if you invest in it.

[Octoalts]

Bitcoin is open to Digital Gold, Bitcoin is a digital currency, but because the price is up and down and can reach very high values, so this makes people think Bitcoin is like Gold, which can be invested for profit.

[Elaine99M]

As we all know bitcoin is a digital currency made as a replacement of money which is used as a mode of payment from the time it was created. But because of its high increase of value every year, many investors and users are diverting their interest on bitcoin into a new form of investment and other people considered bitcoin as an asset. Due to its high value being achieved nowadays, some other people also considered bitcoin as a digital gold. And for me I think bitcoin deserved it because undeniably bitcoin is more valuable than gold today.

[Fenix]

Everyone has the right to reflect on this issue in his own way. However, I do not consider bitcoin as digital gold. He is too volatile for this. We have already seen how it can quickly fall in price by more than 70 percent. Gold in this plan is always stable.

[Ryanpogz]

After reading a lot of posts made by people on this forum, I realized about 75% of them see Bitcoin as a digital Gold. For me, I don’t think Bitcoin is a digital gold. Cryptocurrency or Bitcoin to be precise, was developed to be a safer option for transaction of goods and services and also the best mode of payment. Bitcoin was introduced to disable all the restrictions that banks and the financial system presented. A lot of people have lost huge sums of money because they saw bitcoin as a digital gold. I know others will argue that bitcoin has also made people rich but for me, I don’t think it is advisable to consider Bitcoin as a digital gold. Bitcoin is a digital currency.

It’s common nowadays to hear people describe Bitcoin as “digital gold.” The term “mining” itself suggests — quite intentionally — the image of old-time prospectors, clawing through mounds of rock in the hopes of discovering a new vein of precious metal. Then there’s the near-mythical status of gold as a reserve currency (i.e., a store of value) and unit of account, mirroring the fact that Bitcoin is the blockchain universe’s dominant asset (and one side of most trading pairs on exchanges). A large part of Bitcoin’s appeal as “digital gold” stems from its fixed supply and — until recently — the absence of complex financial products built on it. For perspective, trust in governments and banks was at an all time low when Bitcoin was first released, as evidenced by the Genesis Block’s reference to “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”

[dekafee79]

After reading a lot of posts made by people on this forum, I realized about 75% of them see Bitcoin as a digital Gold. For me, I don’t think Bitcoin is a digital gold. Cryptocurrency or Bitcoin to be precise, was developed to be a safer option for transaction of goods and services and also the best mode of payment. Bitcoin was introduced to disable all the restrictions that banks and the financial system presented. A lot of people have lost huge sums of money because they saw bitcoin as a digital gold. I know others will argue that bitcoin has also made people rich but for me, I don’t think it is advisable to consider Bitcoin as a digital gold. Bitcoin is a digital currency.

Yes It is true. Bitcoin is digital gold. Bitcoin is more potential and more valuable than gold.

[fishbone]

We could still consider that Bitcoin can be a digital gold because of it's market price value are very high.Bitcoin has the highest market price value in all crypto coin now.That is why Bitcoin could be a digital gold.