Post
Topic
Board Bitcoin Discussion
Re: Is Bitcoin a Digital Gold??
by
rasp
on 16/10/2018, 16:54:08 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.
Yes, in its very beginning btc was perceived solely as a means of making safe and anonymous transactions (currency), but now the situation has changed and btc has become an investment instrument will all the consequences that come with it.
Evolution is something natural, you know, especially in this rapidly changing financial market. Many people lost huge sums not because of the wrong perception of bitcoin as a digital gold but due to their greediness and the mistakes it entails.