Digital Gold: Bitcoin enthusiasts know how much important Bitcoin is and what immense role it plays in the day to day lives of people all over the world. Or I'm just paranoid because I'm temporarily leaving the gambling side of cryptocurrency and I want to forget about them for a while. Bitcoin Stack Exchange Bitcoin calls itself "Digital Gold", no longer P2P electronic cash. It’s doubtful that bitcoin will ever replace gold as a safe haven. Bitcoin Digital Fake News Bitcoin Digital is a new scam and the staff and management of Scam Crypto Robots is first to expose this scheme. News articles that do not contain the word "Bitcoin" are usually off-topic. That is, there is gold demand for purposes outside the functions of money. Bitcoin is a store of value, like "digital gold," and will unlikely be used as traditional currency for the next five years, the former Goldman Sachs partner and … Create a digital rupee backed by digital gold. If you have a fairly powerful computer that is almost always online, you can help the network by running Bitcoin Core. [–]ElliotMeijer 14 points15 points16 points 2 years ago (1 child), [–]PifPafPoufDansTaTouf 2 points3 points4 points 2 years ago (0 children). However, Roubini said that central bank digital currencies will become superior to cryptocurrencies and will one day replace them. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. Bitcoin Magazine. 01, 2021 12:32 PM ET Bitcoin USD (BTC-USD) By: Stephen Alpher, SA News Editor 435 Comments. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. Even though Bitcoin isn’t digital gold yet, analysts have still said to buy the cryptocurrency in tandem with the precious metal due to macroeconomic trends. Back then, you could buy one of the new digital tokens for less than 1 cent. and join one of thousands of communities. Negative price? Trades should usually not be advertised here. Adrian Klent - January 31, 2021. Like the currencies we have right way back, Bitcoin was made to be a currency without a middleman, but Bank interference made it to become what it is today, a stagnated cryptocurrency coin with it's only use case being a "store of value" which depends on speculation imposed by traders of the markets. Stay strong. Bitcoin As Digital Gold. Share. Author: M. Corey Goldman If you have ideas for the remaining BTC, see here for more info. Bitcoin’s first ten years of existence coincided with the longest bull market in history, so last week’s stock market crash became the first test of the ‘digital gold’ idea. Submissions that are mostly about some other cryptocurrency belong elsewhere. REDDIT and the ALIEN Logo are registered trademarks of reddit inc. π Rendered by PID 7366 on r2-app-0576b21187089adb8 at 2021-05-19 17:36:57.796145+00:00 running 76f0397 country code: US. If you don't you are going to be one of those chumps that will only lose 2k per coin. Unlike traditional currencies, bonds, and stocks, governments, firms, or individuals cannot print infinite amounts of bitcoin or gold. This is because the two share some similarities, which some argue means that Bitcoin is the perfect supplement for gold. With Bitcoin, you can be your own bank. As such, it is more resistant to wild inflation and corrupt banks. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. Bitcoin is a distributed, worldwide, decentralized digital money. Merchants and users are empowered with low fees and reliable confirmations. Published late last month, the twenty-one-page report, “Bitcoin & the Rise of Digital Gold” begins, essentially with a brief history of money. However, Bitcoin is strictly digital, while gold is purely analog, so are they really comparable? Bitcoin calls itself "Digital Gold", no longer P2P electronic cash. Bitcoin works as 'digital gold' - Fidelity. Bitcoin's 2021 record climb has widened the chasm between those who believe it is 21st century digital gold and those who believe it is the biggest bubble in history. If you can't stand 30 - 40% corrections you don't deserve 300%+ gains, Bitcoin class of 2021 experiencing their first pullback ðŸ˜. However, it’s innovative blockchain technology is very exciting. The dip/crash doesn’t bother me. Gold is a precious metal available in limited quantities. Do not use URL shortening services: always submit the real link. The idea that Bitcoin is digital gold doesn't make sense," he said. Begging/asking for bitcoins is absolutely not allowed, no matter how badly you need the bitcoins. (Unsplash, modified by CoinDesk) Bradley Keoun. This subreddit is not about general financial news. In a recent interview with Bloomberg, Patterson said she wouldn’t call bitcoin an alternative currency, I think if anything, it’s an alternative to gold or digital gold. Bitcoin Cash (BCH) brings sound money to the world. To understand my reasoning, think of the real invention here. No one can access their own money and no one can buy/sell. I think that would be the better comparison.” Despite calling BTC an alternative to the precious metal, Patterson added that the cryptocurrency would have to prove its digital gold status. The panic you are experiencing now is exactly why you wouldnt have held bitcoin if you bought it at a dollar. Omkar … As of now, 10.35799117 BTC was spent out of 22.51357574. However, according to Coinshares’ Meltem Demirors, Bitcoin is much more than just a digital replacement for gold. Bitcoin's "digital gold" narrative might be its best card in an increasingly competitive game. edit subscriptions. Digital currency bitcoin has emerged as a rival to gold and could trade as high as $146,000 if it becomes established as a safe-haven asset, investment bank JPMorgan (JPM) said on Tuesday. We're essentially seeing Bitcoin being literally treated like gold, and one day it will become the first fiat cryptocurrency because the banks ruined it to the point that it no longer has value. Get an ad-free experience with special benefits, and directly support Reddit. Logo design by /u/Annihilia. So, I have been... brushing up history lessons and had some funny history reading with currencies (thanks to people explaining Cryptocurrencies), and then it made me think of something. Fortunes are made during the dip! Gold and Bitcoin as an investment. The u/BitcoinIsDigitalGold community on Reddit. my subreddits. WhatsApp. Bitcoin was first traded back in 2009. JPMorgan Chase & Co analysts have said bitcoin’s value could rise to almost $150,000 over the next decade, while Mike Novogratz at Galaxy Digital has forecast a valuation of $500,000 by 2024. There is also some potential for bitcoin to become a worldwide currency or a store of value. You can also use Bitcoin Core as a very secure Bitcoin wallet. We previously collected donations to fund Bitcoin advertising efforts, but we no longer accept donations. Twitter. As mentioned earlier, both have proven to be safe-haven assets that attract investors. The CSS used by this subreddit is the Erdune Theme modified by /u/Annihilia and /u/konkedas. use the following search parameters to narrow your results: Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Bitcoin Core is the backbone of the Bitcoin network. History lessons about economics told us that the currencies we used were once backed by gold and we physically once used gold coins before that, and banks were created to make our currencies uniform. Reddit gives you the best of the internet in one place. Bitcoin has been called digital gold. Shelve the proposed crypto ban and instead buy Bitcoin to back a digital rupee, making it the first national digital currency backed by digital gold. On the subject of digital currency, the halving of the supply of Bitcoin occurred on 11 May. It has just been a decade that the Bitcoin has been readily accepted as one of the best forms of the Cryptocurrency and considering the global financial scene, it has already become 11th largest money supply of the world devoid of a CEO. The Node: Bitcoin Is ‘Digital Gold’ Because People Say It Is Software firm Meitu, which just bought more ETH and BTC, points to the meta-nature of … [–]foobazzler -1 points0 points1 point 2 years ago (0 children), [–]weed_stock -1 points0 points1 point 2 years ago (0 children), [–]baronvondanger -1 points0 points1 point 2 years ago (0 children). At present, the market capitalisation of bitcoin is a bit shy of $1 trillion, making it the most valuable cryptocurrency by far. What bothers me is the exchanges going down. BTC Price Catalyst: Bitcoin Halvings. Be aware that Twitter, etc. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. WhatsApp. Check out his other work here. Bitcoin is a distributed, worldwide, decentralized digital money. That has reduced the additional supply from 12.5 bitcoins per block to 6.25. [–]ToshiBoi 3 points4 points5 points 2 years ago (0 children), [–]ebaley 3 points4 points5 points 2 years ago (0 children), [–]coinminingrig 2 points3 points4 points 2 years ago (0 children), [–]atherises 4 points5 points6 points 2 years ago (0 children), [–]meadowpoe 1 point2 points3 points 2 years ago (1 child), [–]ultimate55 0 points1 point2 points 2 years ago (0 children), [–]mandysux 0 points1 point2 points 2 years ago (0 children), he was just trying to get some upvotes lol, [–][deleted] 0 points1 point2 points 2 years ago (1 child), negative, prices, -100% drops, oh boy, what a time to be alive 😂, [–]Snowaeth 0 points1 point2 points 2 years ago (0 children). The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralized development. The funds already donated will be spent on some sort of advertising, as intended. The Director of … Advertisement ‘Bitcoin is the digital gold’ is a narrative that has become quite common. Bitcoin to Be Digital Gold in 2020, Says Bloomberg Report Bitcoin will mature into a gold-like store of value this year, according to the latest projections by Bloomberg. You can also explore the Bitcoin Wiki: Bitcoin Forum Telegram. Additionally, fiat currencies such as euros and dollars are issued by nations which have monetary policies. Do not post your Bitcoin address unless someone explicitly asks you to. Is this the Bitcoin Halving you guys always talk about? I just lost 10$ trying to understand how it works, 10 times! In its recent Q1 … ReddIt. Bitcoin is a distributed, worldwide, decentralized digital money. For example. If you are new to Bitcoin, check out We Use Coins and Bitcoin.org. In recent months, a clear and emphatic narrative that bitcoin is becoming a store of value in the form of digital gold has developed.” “Recently, US Federal Reserve Chairman Jerome Powell referred to bitcoin as ‘essentially a substitute for gold rather than for the dollar’. Telegram. Even with all the similarities, gold and bitcoin are very different. Damn, don’t try this at home! is full of impersonation. For example, submissions like "Buying 100 BTC" or "Selling my computer for bitcoins" do not belong here. Bitcoin is digital gold. reddit.com/r/bitcoin If you have Telegram, you can view and join Bitcoin right away. Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. Like gold and silver, Bitcoin is different from securities or assets that are issued by a specific organization. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. Bitcoin's "Digital Gold" claim is a call-out to destroy Bitcoin. jump to content. Though bitcoin is touted as the new digital gold, it still needs to pass the test of time. Gold is used in a variety of industries such as dentistry, electronic hardware, aerospace, jewelry, glass-making and more. Mar. come on everyone if we hurry up and buy a coin now we still have time to lose over 3k. © 2021 reddit inc. All rights reserved. 1773. ReddIt. This should increase upward price pressure assuming demand for Bitcoin continues to grow, as was the case after the previous halvings in 2012 and 2016. Advertisement Alfred Kelly, the CEO of the American multinational financial services corporation Visa has recently made some noteworthy comments about cryptocurrencies like Bitcoin. This is really dishonest, especially for a publicly traded company like Coinbase... Is this really what a safe haven asset looks like? Although Bitcoin has been called a virtual asset, it has more in common with commodities such as gold. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. Some people consider Bitcoin the new gold of the digital era. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy. By. I want my money back! Gold is often toted as being superior to Bitcoin because gold, unlike Bitcoin, has intrinsic value as a commodity. However, we know that Bitcoin Digital is an extremely deceptive website which is very likely to become popular with scammers. Wall Street Bets is allowing posts on some digital assets after years of discouraging crypto chatter. History lessons about economics told us that the currencies we used were once backed by gold and we physically once used gold coins before that, and banks were created to make our currencies uniform. Visa CEO agrees Bitcoin is digital gold, affirms readiness to partner with crypto exchanges. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. Almost all Bitcoin wallets rely on Bitcoin Core in one way or another. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. In a unique and interesting approach on how Bitcoin stacks up against the yellow metal, a Redditor shared a post titled “$1.6 billion in Gold VS $1.6 billion in Bitcoin.”. Even if the RBI doesn't want to peg the digital rupee to digital gold right away, it'll be useful to have BTC reserves as a backstop in a few years time. On 11 March, the Dow Jones Industrial Average officially went into a bear market (-20% from its recent high) and then the S&P 500 also entered bear territory. And is it accurate to call Bitcoin digital gold? While digital gold is the prevailing narrative at the moment (much easier to understand and completely accurate with the current use case), IMO digital real estate will eventually become the prevailing narrative as Bitcoin begins to reshape the Internet. Rendered by PID 7366 on r2-app-0576b21187089adb8 at 2021-05-19 17:36:57.796145+00:00 running 76f0397 country code: US. So I will be earning money for buying whichever coin goes into negative right? The early sections focus on why gold was a common currency or currency backer. Bitcoin is a blockchain-based cryptocurrency that shares some properties with its gold counterpart. Just like gold, bitcoin is scarce and durable. All Bitcoin holders as of block 478558 are now owners of Bitcoin Cash.

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