Fr. What will happen to that shiny rock we dug up for thousands of years, fought wars over, passed down as family treasure, locked away for safety? will it just sit there? will it still mean the same?
That's not going to happen overnight. We live in a world that has shifted and continues to shift from physical to digital, and therefore it is logical to think that at least a large part of the gold market will be eaten up by bitcoin. But there are functions of gold that cannot be replaced by bitcoin, such as jewelry or industrial uses.
For me, gold would likely lose some financial demand but still remain valuable due to its long history of trust.
Unlike Bitcoin, gold is physical and doesn't rely on technology, so it would still be used as a backup store of value. Central banks and individuals might continue holding gold as a hedge or safety asset.
While Bitocin could dominate digital finance, gold would likely remain important in a smaller, more specialized role. It's still very early to say such things.
Probably but technological revolutions happen in the blink of an eye. Maps also had thousands of years of history and today nobody uses a paper map. The change from physical to digital happened in a decade or so.
Without being able to say anything for sure, my opinion is that the market cap of bitcoin will surpass that of gold in a relatively short period of time, perhaps in the next 10 years, and that there will be a market for gold because of what you say and what I said before, but who knows. The future usually brings unexpected events.
True man, cool, I like how you explained it. You made some solid points. You're right, these kinds of changes don’t just happen all of a sudden, but when they do start, they pick up speed really quick. The paper map example you gave. Something that is been around forever can just fade out fast once people move on. Crazy..
And yeah, gold still has its own space, especially in things like jewelry related. That is value Bitcoin can’t really take away from it. But when it comes to holding money, moving the money fast, and keeping it safe, Bitcoin is clearly on another level.
That part where you said Bitcoin might pass gold market cap in the next 10 years, TBH, that is not even something to argue about, with the way the world is going, especially with people losing faith in old money systems, it is likely gonna happen..
Glad you shared your thoughts.