Quote from: Asuspawer09 on August 04, 2020, 07:37:52 PM

Probably not, I think bitcoin has a big potential in the future becoming a top digital currency as we can see the bitcoin adaptation.

But I think gold is especial replacing gold is difficult and I don't think bitcoin could do that even when bitcoin is already at the top currency in the future. Having a physical thing like gold is the difference of both, owning bitcoin is just owning an imaginary gold that is just depending in the demand of the investors.

It seems highly unlikely that Bitcoin will be able to replace Gold sometime in the future. Even now, Gold is enjoying high gains in price, while Bitcoin is relatively stagnant. People seem to trust Gold more than Bitcoin for a very good reason. It's the world's premier store of value that has established itself for years. Bitcoin, on the other hand, is relatively new to the mainstream world with only 11 years since its inception. There's a lot of room for growth in order for Bitcoin to become mature enough as a store of value for the whole wide world to rely on. As long as there's extreme fluctuations of Bitcoin's price on the market, I don't see it becoming a real contender of Gold. Both assets have their distinct use cases that can give anyone financial freedom if used correctly. The future of Gold will rely on "digitalization" as it'll become represented as a digital token living on various Blockchain networks. COVID-19's spread in the mainstream world, will make this happen one way or another.

Nonetheless, anything could happen in the future. Everything will depend on how far people are willing to trust Gold over Bitcoin in the mainstream world. If Gold is getting all the spotlight, it's very unlikely Bitcoin will be able to take its place anytime soon. Of course, Bitcoin mimics Gold in the sense that it's scarce and censorship-resistant. But its many limitations makes people think twice before trusting it as a serious long-term investment. Just my thoughts Grin