Will bitcoin replace gold?

[rayneh]

Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter.

I don't think it is possible because the main reason is that both of are totally different to each other and both of them have different field to use .
Gold is uses in the practical life for the ornament jewelry , so the demand of the gold is in the offline market only and at special occasion but in case of the bitcoin demand is in the offline and online both but made for the simple buy and sell another coin and make investment only to Ake faster earnings than what we can do with the gold .
So both of them will remain at thier place and no one can replace to each other .

now a days bitcoins is utilized all the more generally then the gold since individuals realizes that bitcoins is more important than the gold and the costs are as yet going higher so they purchase bitcoin rather than gold since gold can't give benefit like bitcoins that is the reason it appears that soon bitcoins will supplant the gold in light of the fact that the costs of gold is getting down step by step and the costs of bitcoins are going up rapidly.   

[wallstone]

I dont think so. In the end game Gold is still a precious metal and a beautiful thing in the eyes of a person. Bitcoin is a different story as it is a very good way to make transactions so as for the better currency the bitcoin would be best of two as for my opinion.

We do not know if bitcoin wil replace gold but I think there is a possibility that it would happen. Furthermore, as of now you can see the great potential of bitcoin so that there is a chance that it would happen and Im very glad if its happen. Lastly, gold and bitcoin has a different story and gold wil a precious metal and bitcoin will become our world currency in the future.

[Vivimubarak]

Gold in ancient times used as a medium of exchange,  besides that  is also used as jewelry for women, and gold is also a precious metal that comes from the  the earth. it's can not  compared with bitcoin, gold has its own place in the community even though its value is now lower than bitcoin. and also gold is accepted by all countries of its existence

[quote17]

I'm not sure about this, the BTC is widely regarded as gold, and it has surpassed the value of gold. But do not think btc can substitute for gold, as this is a precious metal of mankind from a thousand years

[Denamen]

I dont think that Bitcoin can replace gold. Bitcoin and Gold have different role in the economy. Bitcoin is a kind of investment asset. Gold is a store asset. They can't replace each other

[8Habits]

I dont think that Bitcoin can replace gold. Bitcoin and Gold have different role in the economy. Bitcoin is a kind of investment asset. Gold is a store asset. They can't replace each other

That is right and what a wise investor is doing is he/she is both investing to bitcoin and gold and in any other investment vehicles. It is not good to put all of your money and resources to only one investment - we should diversify.

[bling-bling]

Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter.

Gold and Bitcoin are just two different things. Both has value in their own ways, but their functions are generally different. So the idea of Bitcoin replacing Gold is just not realistic.

[Avdotiy]

If you know how to use Bitcoin in Transport industry, Chemistry, Petrochemical production, Power engineering, Electronics, Telecommunications, Nanotechnology, Aviation and space industry. Or at least, dress up your wife with Bitcoin..
Sure, why not!

[TiffanyLien23]

Well i dont think so. We can still need gold in other way or other purposes but in terms of its value, btc are higher than gold.

[charlenedave]

I don't think Bitcoin will replace gold. Gold is there since then, I don't think people will choose Bitcoin over gold; especially that they don't have knowledge about Bitcoin. But who knows, there will always be a possibility.

[thenameisjay]

Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter.

The thing is, gold is a tangible commodity that's why it a better representative of money. Investors see more of an opportunity with this because they can hide their gold. But bitcoins on the other hand, can not be held. Plus, bitcoins have this very volatile state in terms of its price, it can no way represent money because it always changes in value in a few minutes time.

[bulacarango]

Bitcoin will replace gold, I think it does not get drunk
bitcoin will become more popular and be considered as international currency, bitcoin will be stronger than any future virtual currency

[trauchot]

As for me, it's better invest in gold if you want invest your money there for a long time and you will be 100% sure that nothing will be with your money. In bitcoins it is necessary invest with great risk, because course changes every second and there is always a great chance to lose all your money. If bitcoin will recognize in all countries how official currency and course will not changing so dramatically, then after a while everything is possible.

[pabpete]

There is no way any of them can replace each other, because we need the both of them. They all have different roles to play in our daily lives, be it transactions or any other purpose.

In my opinion, Bitcoin can have a positive impact on the economy in a given country, but it can not replace something we have been dealing with for thousands of years. It is simply impossible.

[Bitmora]

No. Gold, silver, etc. are things that have been traded for many, many centuries. Even a world in despair, war ridden, and fallen governments, will still trade gold. If the next WW3 breaks out in 50 years, and even if Bitcoin is used daily by consumers, it would not be more valuable than gold at the time. Bitcoin relies on the internet/Blockchain to work. Without it, it's not much. If a war/governments fall, internet will be very hard to come by. That is why gold will always stay on top.

The very reason stated above is why people, and banks, buy gold bars rather than cash. Even if the USD falls, gold will still be worth its value. If you ever become a millionaire, gold is where you want a heavy portion of your money.

[Mymikagab]

Only a few will become the standard, and nobody knows which ones at this point,” he said. Cryptocurrencies have been around for less than a decade, whereas gold has been used as a store of value for thousands of years…We know for a fact that stocks and bonds have low or negative correlations with gold. This makes gold a powerful hedge.”

[felixando]

it will unlikely replace gold, as gold has its "shiny" factor. bitcoin is just a store/transfer of wealth.

[igybadger]

As we get more advance everyday Bitcoin will eventually replace gold. Lets face it most of the time we use the internet to pay or buy.

[Gudhal Untu]

Until whenever gold will not be replaced, although currently bitcoin is very profitable but this will never be able to replace gold. with this fact I wish we could split the investment into bitcoin and gold.

[richmcrich]

Gold in general is no better. The value of gold is nothing more than a result of a global consensus

hold it right there...
Gold is not just some shit you extract from earth and trade it to just have value. it has a thousand and one different usages in a wide range of fields. from electronics to medical. and from big (macro) to small (nano) sizes of it is being used.
and the "value" comes from these plus scarcity of it.

 I agree to your opinion that gold is not just some shit that you extract from earth and trade it to just have a value and it has a thousand of different usages. But in my opinion I think bitcoin will never replace gold because gold has a reputation since ancient times but base on golds price vs bitcoins price I think on that one bitcoin replaces gold but in terms on reputation I think bitcoin will never replaced golds reputation.

About the value, Bitcoin can win an old asset as Gold, but about the popularity and the trust in the trading market, I do not think Bitcoin has any chance to replace Gold someday. Do you want to buy Gold for long term saving if you have a lot of money? For me, I always think this field is the first place to saving my money.

It is not can rather bitcoin has already replaced gold as a basic mode of saving large amounts. There are a lot many practical examples where gold investors have simply switched to bitcoin because of the one simple reason and that is the volatile nature of bitcoin which helps it a lot in increasing in prices very high. This is the drawback of gold that it is very much stable in prices and people need to wait a lot before making some decent profit.