Post
Topic
Board Bitcoin Discussion
Re: Will bitcoin replace gold?
by
futurebitcoins
on 08/01/2018, 14:28:31 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.

What if the bitcoin drops to zero value? anything is possible in the digital world because it is not physical money.

I am 100% sure gold value will never come zero. i believe physical things, but I use the digital money to make quick money.