Quote from: virendarnagpal on August 13, 2020, 07:08:42 AM

Gold being the source of store of value of money since times immemorial. It can be stored in its physical form as well as in the form of purchasing gold bonds. In countries like India Gold has always been a safe investment because it can be kept safely being occuping little space. People are also fond of keeping gold jewellery. In the emergency periods people used to sell it and get the desired jobs.

Bitcoin is very new subject. Still most of the people are unaware of it. Low education levels; non awareness and safety measures will keep people away from this option. Always there is fear that these may be stolen by fraudsters. One needs to be full aware and educated / informed how to keep this safe.

Though the more and more people will come into it's fold but I do not see bitcoin taking the place of gold in near future.

That's certainly true, mate. While Gold has been trusted for years by people worldwide, Bitcoin is still relatively new. Gold's best selling point, is that it can be used in emergencies when there's no electricity or Internet connection whatsoever. That's not possible with Bitcoin since transactions are valid only if they go through the Blockchain. This means that the person needs electricity and an Internet connection to be able to interact with Bitcoin in the mainstream world. If it wasn't for this, Bitcoin would've been even better than Gold itself.

For those who have access to the aforementioned resources, Bitcoin proves to be a great alternative to existing Gold. The fact that Bitcoin is portable, allows anyone to carry thousands or even millions of dollars in the smallest device possible to prevent unwanted attention. Imagine travelling to another country having to carry all of your physical Gold bullion. It would pose to be an extreme security risk that could be life-threatening as we know it. With Bitcoin, the person carrying it obtains full discretion of his/her funds. You can store it in a very small piece of paper, on a microSD card, a thumb drive, etc. Since none will suspect you're carrying Bitcoin using such methods (unless you personally disclose it), you can feel safe against theft.

Nonetheless, both Bitcoin and Gold have their respective advantages/disadvantages. Neither can replace the other since they're apples and oranges. Bitcoin will continue to be the "Gold standard of crypto", while Gold itself will be tokenized on the Blockchain. People can put both assets to good use in order to enjoy financial freedom. As Bitcoin's popularity grows, more people will recognize it as a store of value. Just my thoughts Grin