After reading a lot of posts made by people on this forum, I realized about 75% of them see Bitcoin as a digital Gold. For me, I don't think Bitcoin is a digital gold. Cryptocurrency or Bitcoin to be precise, was developed to be a safer option for transaction of goods and services and also the best mode of payment. Bitcoin was introduced to disable all the restrictions that banks and the financial system presented. A lot of people have lost huge sums of money because they saw bitcoin as a digital gold. I know others will argue that bitcoin has also made people rich but for me, I don't think it is advisable to consider Bitcoin as a digital gold. Bitcoin is a digital currency.
Is Bitcoin a Digital Gold??
- Thread starter mandisa
- Start date
CryptoTC
Crypto Fat Cat
Bitcoin doesn’t know what it wants to be. Bitcoin’s biggest players don’t know what they want it to be.
Bitcoin cash is better focused on money transfer and now apps (see my posts in the BCH forum). Ethereum on smart contracts. Litecoin on payments. Ripple on banks.
Bitcoin is for trading and speculating right now. It isn’t even good at hiding money but people think it is. Monero and Dash handle that better.
So it’s up to us to decide what bitcoin is. For me, it is purely an investment. A store of value.
Bitcoin cash is better focused on money transfer and now apps (see my posts in the BCH forum). Ethereum on smart contracts. Litecoin on payments. Ripple on banks.
Bitcoin is for trading and speculating right now. It isn’t even good at hiding money but people think it is. Monero and Dash handle that better.
So it’s up to us to decide what bitcoin is. For me, it is purely an investment. A store of value.