Post
Topic
Board Bitcoin Discussion
Re: Will bitcoin replace gold?
by
missyqt29
on 08/01/2018, 14:23:57 UTC
Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter.

I hope we could stop comparing cryptocurrency to any other valuable things because those two operates differently. Gold is a classic wager to any financial need and not just a piece of metal. We like it or not, many people still prefer tangible money. What I hope for, that bitcoin will be the "gold" of the future years.