Post
Topic
Board Bitcoin Discussion
Re: Will bitcoin replace gold?
by
rainezerr401
on 31/03/2018, 22:03:57 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.

Bitcoin has the potential to replace gold due to the investors that keeps on increasing each day hoping to earn profit after they invest on cryptocurrency while gold is only for a business who is capable of earning it and it was very hard to obtain for just a simple person who does not have that much money.