Post
Topic
Board Bitcoin Discussion
Re: Will bitcoin replace gold?
by
Nestade
on 24/03/2018, 23:45:01 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.
Gold is a kind of metal whose value is recognized all over the world. Bitcoin is a digital currency whose value is only recognized by some people. I think bitcoin is different from gold, and bitcoin will not replace gold.
Bitcoin and golds are not different from each others if you're considering them at some features.
They're all the valuable stuffs that you only can get through mining and owning them will help you earn profits or losing them.
Bitcoin is likely golds but just the digital version one.

Without gold there is no bitcoin.
Just check your computer components and you'll find gold-plated pins and traces to optimize conductivity.
Also gold is physical while bitcoin is digital so gold would be a possible emergency currency.
Which doesn't mean bitcoin is bad - but gold and bitcoin are two completely different things and hard to compare.