I don’t see the point in replacing gold but that will happen or not, it is not someone’s choice. Bitcoin has taken some of the gold market. Nowadays many people who own gold actually own paper, or digits, they don’t have the gold stored at home or in a safe in a bank, and bitcoin has a similar function, but it is not centralized.

So, yes, they will probably coexist for a while.

Remember that bitcoin is a very high risk investment. It's like you'll never know if you still have the original amount from couple of days ago or so. And if you invested your entire life savings, you can't sleep very well in that case. While if you have the gold, you're not that scared to lose it the next day. You are still confident that you have your gold investments. But, it's up to an individual where he wants to risk his money. It's his own money anyway.

Bitcoin investment tool? First we have to answer this question! For me, right now it is. But, the future mission of Bitcoin is completely different. This can change if it will be successful. But there is another scenario. If altcoins are used and survive, Bitcoin can be always remain an investment tool.

But Bitcoin is not an investment tool like gold, and will never be. Therefore, it is not right to compare these two.

I don't agree with you on this. Bitcoin is seen as an investment vehicle not as a currency because of its volatility in value.
The topic is all about replacing gold as an investment vehicle not to compare both. That is why we have this issue since bitcoin is also considered as a good store of value just like gold.

I guess only a few in here who are actually using their bitcoin to purchase something online. Most of us are hodling bitcoin or used them in trading or gambling to earn profits.

Bitcoin isn't even an investment tool since we cannot be sure that it will definitely appreciate in the future unlike gold which is tangible and is actually naturally rare so there's always demand for it. The statement was a little absure since bitcoin wasn't meant to replace anything; it was meant to be an option.

The point there is, bitcoin is used for both asset and investment. The asset made from bitcoin can be converted into cash likewise gold and you can also invest in bitcoin to hold for the future which is an investment . They both play such function if you will agree....

Gold and Bitcoin are two different things.

Gold is purely just an asset while Bitcoin on the other hand has a deeper value. I see more of Bitcoin competing with FIAT rather than GOLD. People are just comparing bitcoin to gold because of the price when we do talk about that Bitcoin's price is just $6,451 while Gold in the other hand $38,301.18 per KILO. Obviously Gold is more valuable but it's price is steady unlike bitcoin.


Therefore Bitcoin as of the moment Kristoffer Inton is right that it's current price is not enough to replace GOLD in terms of price. However if we do talk about usability or as an asset Bitcoin is far far better than Gold.

Hello,

I agree with you that BTC could not replace gold but his a real alternive to it.

These are differents markets and values. One is tangible other one is network so they have differnt power for people and have both their advantages.

Gold is for me the BTC of fiat, means the reference and will remain s it is because his tangibility. BTC is the gold of crypto as a reference of crypto, most famous and valuable one, kind of crypto like gold is kind of fiat

Well said! Gold will remain a better investment than bitcoin simply because there is an undetermined and perhaps even unlimited chances on mining while bitcoin has a limit although it has been said that it will still take 122 years to finish mining the remaining coins. Plus we must also not forget the fact that bitcoin is still a test. We can't tell what the future holds for it albeit, both has pros and cons. Gold may just be for the chosen few and bitcoin can be for everyone.

I partially agree with Kristoffer Inton. Bitcoin is still at an infancy stage. There is still a lot to do especially putting its high volatility under control because it is its major shortcoming.