To me l don't think bitcoin can easily replace gold because gold is tangible and mining it is also easier than bitcoin. But maybe the two will be highly valuable in the near future but not replacing each other.
Bitcoin can replace Gold ?
- Thread starter hani20980
- Start date
If we are talking about more companies and organizations entering bitcoin market and investing in bitcoin that is very much possible, but for bitcoin replacing gold, that is countries converting their savings to bitcoin instead of gold, no I don't see that happening. Gold price is not as volatile as bitcoin price, hence gold is more suitable longer savings compare to bitcoin.
I guess you are right and I also agree with your stance. Bitcoin may tend to be more profitable but Gold is a physical asset, that is less volatile and tangible, hence, making it quite irreplaceable in my own opinion.
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Gold is a stable unit. While bitcoin is unstable. It keeps on changing its value. So I think it will not replace gold. You now that 1 kg gold is equal to an amount which changes slightly in a day. While bitcoin value may decrease to a very low level in a single day.
Even though you will never make any losses with gold, gold does not give much profit. I can remember the gold price 20 years ago, it has gone up by 10 times. I remember bitcoin price in 2016, it has gone up by 50 times. However, bitcoin is very volatile and it can go down pretty soon.
I don't think that bitcoin will ever replace gold because to a large extent people will still trust gold more as it is tangible, however i think that bitcoin can become a very important commodity, especially when all of the coins have been mined or when the coins left are very little as this will drive the price up of bitcoin insanely.
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I don't see the possibility of Bitcoin or any other cryptocurrency replacing gold. Because the production, storage and transfer of crypto money is completely done in digital environment. However, gold is the most important tool of change that has preserved its validity for centuries. Moreover, most people rely more on physical exchange tools such as gold.
I do not see that happening. Gold does not have a volatility like Bitcoin, therefore, it is considered more stable investment option. However, Bitcoin is volatile and is not an investment option for those who do not want to take risk
Bitcoin will never be able to replace gold because both have different properties and characteristics. Bitcoin tends to be used as a medium of exchange, while gold is used as a hedge and safe haven, the risk level of gold is much smaller than bitcoin. so that we can make Bitcoin and gold a complementary investment portfolio.
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Some might say, Bitcoin is the new gold but personally I do not think gold can be replaced by Bitcoin. To some extent it might be abit more popular but it can not replace gold.
The two financial instruments are non related for comparison here as they are both traded commodities at their different respective markets hope you know that? The one cannot replace the other
Ever since since crypto like BTC, ETH, BNB etc, took the world by surprise earlier on when they all witnessed their best price mark. Most people aren't considering precious stones anymore, crypto is just the centre of attraction.
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Many experts are in no doubt bitcoin wont replace gold, even crypto advocates themselves recognize that it has a long way to go before it can wholly store value and operate as money. Gold has been used as money for millennia and has intrinsic value.
Gold is used in jewelry. When you have a gold ingot then you can either sell it as it is or sell it to a jeweler to be made into jewelry. I don't think you can do that with Bitcoin. When the Bitcoin has no more value all you have is the Bitcoin wallet and nothing more. With gold, it is tangible and you can hold it physically.
No bitcoin can never replace gold. For now we can see bitcoin as a replacement for gold because of the price keep on rising. But this is not for a very long time because a time will come that bitcoin will be fixed in price
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There is no way Bitcoin can replace gold in the future just as hold can't replace Bitcoin either. Both are not closely related rombe compared in such arrangements.
Bitcoin can definitely replace gold in the future. A lot of people are now going into crypto currency exchange Business and leaving gold out of there investment plans.
Bitcoin is a currency while gold is an asset.
Two things differently, Bitcoin can only be traded but gold in the other can be used for a lot of things.
It may surpass gold in price but Bitcoin can never replace gold
Two things differently, Bitcoin can only be traded but gold in the other can be used for a lot of things.
It may surpass gold in price but Bitcoin can never replace gold
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Gold was really valuable back in the days and people used it as a means of purchases. But Bitcoin has similar abilities so I don't see why it can't overtake gold.
I don't really think so that bitcoin can replace gold because both of them has different value, so never will bitcoin replace gold in the future or even now.
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