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Author Topic: Will Bitcoin Replace Gold as Store of Value?  (Read 31897 times)

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Will Bitcoin Replace Gold as Store of Value?
« on: December 26, 2018, 11:13:29 PM »
Scientists Turn Copper into ‘Gold’ — Will Bitcoin Replace as Store of Value?



According to a new paper published in a peer-reviewed scientific journal, researchers in China have made a groundbreaking discovery that could profoundly impact the face of the precious metals landscape — and provide bitcoin with an opportunity to shine.

Scientists Turn Copper into Substance ‘Almost Identical’ to Gold

Per SCMP, a team of scientists at the Dalian Institute of Chemical Physics at the Chinese Academy of Sciences in Liaoning have developed a method to turn cheap, plentiful copper into a substance that is “almost identical” to gold, accomplishing what alchemists have for hundreds of years believed could be a gateway to endless riches.

Lest anyone protest that this sounds like something out of the National Enquirer or one of the more fantastical medieval travel narratives, the study was published in the peer-reviewed journal Science Advances, and the methodology relies on chemical reactions rather than secret incantations.

To create the pseudo-gold, the scientists shot a payload of hot, electrically-charged argon gas at a target made out of copper. The ionized gas particles dislodged copper atoms from the target, and these atoms fell onto a collecting device where they cooled off into a pile of microscopic sand — each grain just a few nanometers in size.

The scientists then tested the properties of these copper particles by using them as a catalyst in a chemical reaction to turn coal into alcohol. Confirming their research, they found that the nanoparticles “achieved catalytic performance extremely similar to that of gold or silver,” Sun and the other researchers wrote, explaining that it can resist high temperatures, oxidization, and erosion much better than standard copper.

Will Bitcoin Replace Gold as Store of Value?



This scientific development raises the question of whether the gold standard of economic hedging could soon lose its luster, forcing gold bugs and other stock market bears to turn to alternative assets. Could this give bitcoin an opening to become a mainstream store of value?

Though proponents frequently cite bitcoin’s utility as a successor to the yellow metal, the answer remains no, at least for the foreseeable future.

Sun and the other researchers explained that, at least in its current incarnation, the process could not practically be used to create counterfeit gold coins or bars since its density remains the same as normal copper.

Nevertheless, anticipating future improvements in the methodology, ordinary retail investors who purchase precious metals for speculative purposes could be taken in by this pseudo-gold if significant quantities ever exit the industrial sector and are repurposed by counterfeiters. This would exacerbate a longstanding problem in precious metals investing, potentially weakening consumer trust in bullion as a store of value.

Moreover, even the production of this pseudo-gold for its intended purpose — industrial applications — could have a significant impact on the value of the true yellow metal. While the vast majority of gold demand is speculative, the material also plays an important role in the production of electronic devices, a fact that crypto skeptics often cite when objecting to the thesis that bitcoin is “digital gold.”

At the very least, the material’s replacement in industrial manufacturing should place equivalent downward pressure on the gold price, though it’s likely that psychological factors would further weaken investor confidence and steepen the asset’s decline.

Consequently, this and other new threats to gold demand, coupled with future improvements in cryptocurrency adoption and technological development, could over the long term provide a gateway toward bitcoin finally becoming a real store of value rather than just a moonshot purchase.



https://www.ccn.com/scientists-turn-copper-into-gold-will-bitcoin-replace-as-store-of-value/


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Will Bitcoin Replace Gold as Store of Value?
« on: December 26, 2018, 11:13:29 PM »

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Offline Davidniam55

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #1 on: December 27, 2018, 04:23:53 AM »
if in my opinion we can say that bitcoin can replace gold. because now there are so many people investing in bitcoin rather than investing in gold.
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Offline Bobcrypto

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #2 on: December 27, 2018, 07:42:44 AM »
Bitcoin is a new discovery, just 10 yaers, it may be too early to tell. I think in the next additional 10 years we may boldly conclude that Bitcoin might replace Gold.
If the market gets more mature, and may be with regulations plus more attention, it can become an important place for investors to place their funds instead of gold.

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #3 on: December 27, 2018, 10:02:34 AM »
Bitcoin is a new discovery, just 10 yaers, it may be too early to tell. I think in the next additional 10 years we boldly conclude that Bitcoin might replace Gold.
If the market gets more mature, and may be with regulations plus more attention, it can become an important place for investors to place their funds instead of gold.
I don't think that gold will be replaced that easily. And bitcoin is not invented to become store of value but to use as a payment around the world. The main focus of this technology is to send money in a blink of an eye.

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #4 on: December 27, 2018, 03:33:18 PM »
The first step of Bitcoin I think it will replace the current fiat system, then when Bitcoin become more popularity and stable, it will replace Gold as store of value too, but there still a long road ahead await Bitcoin
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Offline mlawson71

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #5 on: December 27, 2018, 04:03:51 PM »
Maybe, one day. Do I think it can happen in the foreseeable future. Not really, no.

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #6 on: December 27, 2018, 07:25:21 PM »
I got confused at the first part of the article. Anyway, if those pseudo-gold (counterfeits) would flood the market, then that would be detrimental to all Gold investors. Those investors might take refuge to the stock market or cryptocurrency market.

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #6 on: December 27, 2018, 07:25:21 PM »


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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #7 on: December 27, 2018, 08:11:07 PM »
The news about the creation of an actually new chemical element, which in its chemical and physical characteristics will be very similar to gold, will have a very large practical application and can actually have an effect on lowering the price of gold. However, in principle, this does not mean anything. Gold has always been, is and will be gold - an indispensable means of storing value.
Because of this, Bitcoin will never replace gold with itself. On the example of this year, we see that due to its high price volatility, it performs very poorly the function of accumulating value. Everyone who invested in Bitcoin, especially in the second half of 2017, now suffered huge losses, since this value repository has fallen in price by more than 70 percent.

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #8 on: December 28, 2018, 01:36:12 AM »
Just let Bitcoin be Bitcoin and Gold be Gold.
Talks of one replacing the other when the two are not really related is a waste of time I think.

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #9 on: December 28, 2018, 03:30:03 AM »
When Bitcoin becomes more popular and stable, it will replace Gold as a store of value too, but there is still a long way to go ahead waiting for Bitcoin. The first step of Bitcoin I think it will replace the current fiat system.

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #10 on: December 28, 2018, 01:13:17 PM »
in my opinion bitcoin is the right choice for investment rather than gold. because in digital form we can save space and be very safe to put wherever we are

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #11 on: December 28, 2018, 06:24:05 PM »
Probably never. As there are hundreds of different commodities, precious metals, and currencies, there are also hundreds of different cryptocurrencies. Each one has its own utility and benefits as an investment.

I would focus on the ability for people to buy bitcoin with gold inside of a real-time exchange like Vaultoro.
Check out the Smart Bitcoin Investments app at AndroidiOS

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #12 on: December 28, 2018, 08:00:00 PM »
When Bitcoin becomes more popular and stable, it will replace Gold as a store of value too, but there is still a long way to go ahead waiting for Bitcoin. The first step of Bitcoin I think it will replace the current fiat system.
In order for Bitcoin to replace the existing system of ordinary currencies of various states, a corresponding decision of the government and, as a rule, the legislative body of this state is needed. However, no government will ever decide to abandon its national money in favor of cryptocurrency and thereby destroy its economy.
Also, gold will always remain gold and the most reliable system of value accumulation.

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #13 on: December 29, 2018, 08:14:59 AM »
I think its really hard for bitcoin to reace gold because the value of gold is very stable and it increases every now and then unlike bitcoin in which its market value is very volatile and anytime its market value may drops automaticallly.
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Offline Annalise

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Re: Will Bitcoin Replace Gold as Store of Value?
« Reply #14 on: December 29, 2018, 06:14:58 PM »
I think bitcoin will function more effectively as an asset than a store of value like gold.
Bitcoin replacing gold would mean than bitcoin would be made to become a physical object like gold and that's not possible.

 

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