Quote from: richardsNY on March 07, 2018, 09:39:05 PM

Quote from: strasboug on March 07, 2018, 09:18:14 PM

bitcoin can not replace the gold, it possibly just supplement gold.

No worry, it won't, and doesn't need to. Bitcoin is definitely part of a new asset class, but not in such a way that it replaces gold. I however do think that where traditionally gold is being used as hedge, people have now another option to go for, and that's Bitcoin. I don't understand why people think it's necessary for Bitcoin to replace financial institutions, gold, etc. Everything can function alongside each other without any problems. Main point of importance is the fact that with gold, you for sure know that it will stay as it is for many more decades, which at this point in time can't be said about any crypto currency. Let's wait 10 years to see where crypto stands, and then see how everything has played out.

I agree bitcoin does not need to replace any institution or other currencies for everyone as long as it does for some then that is more than enough, I do not have gold but I have a small amount of silver but I find holding bitcoin easier and the profits are bigger too so I prefer to use bitcoin as a hedge against the system, and as long as some of us are able to do that then everything will be fine.