Post
Topic
Board Bitcoin Discussion
Re: Is Bitcoin a Digital Gold??
by
moginsa
on 16/10/2018, 06:11:28 UTC
After reading a lot of posts made by people on this forum, I realized about 75% of them see Bitcoin as a digital Gold. For me, I don't think Bitcoin is a digital gold. Cryptocurrency or Bitcoin to be precise, was developed to be a safer option for transaction of goods and services and also the best mode of payment. Bitcoin was introduced to disable all the restrictions that banks and the financial system presented. A lot of people have lost huge sums of money because they saw bitcoin as a digital gold. I know others will argue that bitcoin has also made people rich but for me, I don't think it is advisable to consider Bitcoin as a digital gold. Bitcoin is a digital currency.

I also do not believe in this digital gold or some gold replacement.  You need to have physical assets on hand like gold/silver.  You must also have fiat (even though its garbage).  Finally you must now in my opinion hold crypto.  It's a brand new asset class which may overtake fiat so you need to be in just in case.