Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Will Bitcoin replace Gold someday?
by
fiulpro
on 25/07/2020, 16:04:41 UTC
⭐ Merited by philipma1957 (1)
In these times of turmoil, Gold is reaching new ATHs in price. But Bitcoin doesn't leave behind, as it quickly recovered to its "pre-COVID" prices on the market. It's today where Bitcoin prices are relatively stable. With a limited supply of only 21 million coins, hardened security, and a focus on decentralization, Bitcoin is often viewed by many as the successor of Gold. One of Bitcoin's greatest benefits on top of Gold, is portability. You can virtually carry your Bitcoin with you safely when travelling, without anyone noticing. That's not the case with Gold, as you'd need to carry physical bullion with you. Other than portability, Gold and Bitcoin are very much alike.

Do you think that Bitcoin will be able to replace Gold someday? As we shift into the "intangible" world, people will "ditch" physical stuff in exchange for digital items. Bitcoin can become the new digital Gold which serves as a safe-haven asset (store of value) in times of need. COVID-19 will greatly encourage people to adopt Bitcoin over Gold as their next store of value of choice. Thoughts? Huh
Gold
Bitcoins
Fiat
Stocks
Etc...

All of them are separate markets and therefore some entanglements might be present they will never replace each other.

There are always people who will prefer one over the other and therefore your question : Will BTC replace Gold ?
-No

Few things to keep in mind :

Gold is more stable and less volatile
It's acceptable all around the world as a means of investment
It has both cultural and religious significance in many countries
It's prefered by women all around the world and even some men for jewelry and other ornaments


I would prefer Bitcoins anytime over old as a means of investments but it's not about our personal opinions.