Bitcoin has defeated gold - page 52.

Zeke_23

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Quote from: SirLancelot on August 17, 2017, 07:58:50 AM

Quote from: BitcoinPC on August 16, 2017, 03:55:02 AM

Quote from: soul-impact on March 02, 2017, 11:13:27 AM

Bitcoin: $1260/BTC
Gold: $1241/xau
Well, I can not believe that the Bitcoin prices has crossed over gold sooner than I expect. I thought the process would be finished in April. Wow, Bitcoin is truly worth and everyone who has sold their Bitcoin has made a huge mistake. Nothing can stop Bitcoin right now.

Yeah, Bitcoin has defeated the gold. But when you asked this thread then bitcoin was $1260 and now you could see bitcoin price has been increased more then triple, and now bitcoin is $4152. So definitely bitcoin beat the gold and now may be in the coming time, we would be compare the bitcoin price with diamond price.

Even the prices are going up while gold is still on the place where it was brother. You have mentioned $4152 USD now a day see the price of bitcoin it going to competition with diamond so we should not say that it would fight back Gold because bitcoin already left the place of competition with GOLD because it is end and bitcoin won the era.

bitcoin indeed ended the era of gold, it was far more pricey than gold. as far as we know bitcoin price is still unimaginable and it can increased in the following months or maybe years. there is a lot of prediction on what is the future price of it.

SirLancelot

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Quote from: BitcoinPC on August 16, 2017, 03:55:02 AM

Quote from: soul-impact on March 02, 2017, 11:13:27 AM

Bitcoin: $1260/BTC
Gold: $1241/xau
Well, I can not believe that the Bitcoin prices has crossed over gold sooner than I expect. I thought the process would be finished in April. Wow, Bitcoin is truly worth and everyone who has sold their Bitcoin has made a huge mistake. Nothing can stop Bitcoin right now.

Yeah, Bitcoin has defeated the gold. But when you asked this thread then bitcoin was $1260 and now you could see bitcoin price has been increased more then triple, and now bitcoin is $4152. So definitely bitcoin beat the gold and now may be in the coming time, we would be compare the bitcoin price with diamond price.

Even the prices are going up while gold is still on the place where it was brother. You have mentioned $4152 USD now a day see the price of bitcoin it going to competition with diamond so we should not say that it would fight back Gold because bitcoin already left the place of competition with GOLD because it is end and bitcoin won the era.

Luis34

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Now Bitcoin win of Bitcoin in the price

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Quote from: supine on August 16, 2017, 02:44:30 PM

Quote from: soul-impact on March 02, 2017, 11:13:27 AM

Bitcoin: $1260/BTC
Gold: $1241/xau
Well, I can not believe that the Bitcoin prices has crossed over gold sooner than I expect. I thought the process would be finished in April. Wow, Bitcoin is truly worth and everyone who has sold their Bitcoin has made a huge mistake. Nothing can stop Bitcoin right now.

I totally agree with these, but the only thing that makes gold better than BTC is that gold's price is not volatile, it's a sure investment. On the other hand, bitcoin's volatility makes it good for short-term investments and even for long term investments. A lot of people are investing more in bitcoin than gold

I don't think so

I don't think that either more people are investing in Bitcoin than gold or they just invest more in Bitcoin than in gold (whichever your point is). You could just compare the real markets of gold and Bitcoin to see that Bitcoin is nowhere close to being gold's rival (and will likely never be). If you want to challenge that point somehow (or someone else wants), stay away from Bitcoin market cap as a measure of Bitcoin "success" (since it is an utterly useless metric)

supine

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Quote from: soul-impact on March 02, 2017, 11:13:27 AM

Bitcoin: $1260/BTC
Gold: $1241/xau
Well, I can not believe that the Bitcoin prices has crossed over gold sooner than I expect. I thought the process would be finished in April. Wow, Bitcoin is truly worth and everyone who has sold their Bitcoin has made a huge mistake. Nothing can stop Bitcoin right now.

I totally agree with these, but the only thing that makes gold better than BTC is that gold's price is not volatile, it's a sure investment. On the other hand, bitcoin's volatility makes it good for short-term investments and even for long term investments. A lot of people are investing more in bitcoin than gold.

BeastLee

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If bitcoin is worth more than one ounce of gold, I dont really care that much. It's just a unit of weight. But to the mass population, the ounce of gold price has been hammered into modern society, so I guess for those people, it's a big landmark.

pitiflin

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Quote from: soul-impact on March 02, 2017, 11:13:27 AM

Bitcoin: $1260/BTC
Gold: $1241/xau
Well, I can not believe that the Bitcoin prices has crossed over gold sooner than I expect. I thought the process would be finished in April. Wow, Bitcoin is truly worth and everyone who has sold their Bitcoin has made a huge mistake. Nothing can stop Bitcoin right now.

It has crossed the price of gold not the value, by value I mean that with the amount of gold out there and the amount of bitcoin out there ,gold clearly is the winner . Not only that gold is there for thousands of years and bitcoin is there for merely 8 years (it's an amazing record set by beating gold 's price indeed BTW) ,so people won't abandon their ancestral traditions easily.

albertvert

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Quote from: iram1011 on August 16, 2017, 12:39:58 PM

Quote from: SMSabuj on August 16, 2017, 09:01:44 AM

Quote from: soul-impact on March 02, 2017, 11:13:27 AM

Bitcoin: $1260/BTC
Gold: $1241/xau
Well, I can not believe that the Bitcoin prices has crossed over gold sooner than I expect. I thought the process would be finished in April. Wow, Bitcoin is truly worth and everyone who has sold their Bitcoin has made a huge mistake. Nothing can stop Bitcoin right now.

Obviously, Bitcoin will defeat gold. It will cross gold prices. Already Bitcoin is going to sky. I mean Bitcoin price is going so high. Within a few days, Bitcoin will cross $5000 USD.

It is never about price. Bitcoin being limited to 21 million will obviously reach a huge figure while gold's price is driven by various other factors like dollar and oil relation along with demand. Actually they aren't comparable. Most of the people tend to have diversified investment plan including both gold and Bitcoin.

Quote from: ydrogios on August 16, 2017, 12:25:14 PM

When talking about losses and wins one should take into consideration such virable as "time" - in 20 years from now crypto currencies may be long gone, and gold will buy like 10 times more than today.

I agree Bitcoin's future is still uncertain. There are chances that Bitcoin or other cryptocurrencies will be taken over by some other monetary system while gold still be there. But right now Bitcoin is the hot investment in the market and we should enjoy that.

Ya like wise the gold is replaced by anything. Even why not a Bitcoin. As of Many know ,now many start to inverse on is high as compared to hold.Since many know, bitcoin gives you the nth value of money you inversed in bitcoin. I'm sure in gold it's not at all possible. In soon ,bitcoin will replace the gold.

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Quote from: mindrust on August 16, 2017, 07:20:22 AM

Quote from: Vishnu.Reang on August 16, 2017, 04:46:29 AM

Why we are comparing one oz. of gold with one Bitcoin? These units are not the same. One oz. is not equivalent to one coin. IMO, we should be comparing one tonne of gold with one Bitcoin. So here is my comparison:

One tonne of gold: $38,600,000
One Bitcoin: $4,100

We should compare market caps. Anything else is irrelevant. Market cap itself is not the most reliable data but that's the best we got

Your whole arithmetic is meaningless

And I'm not just saying that you can't compare the market caps of Bitcoin and gold at all since over 50% of all gold is distributed among the world population (which is obviously not the case with Bitcoin). Even this is ultimately inconsequential simply because Bitcoin has nothing to do with gold (even in investing gold is at the opposite end of the investment stick). Really, why should we use gold specifically? Why not take crude oil, for example, or something else? As Charlie Munger once said, people calculate too much and think too little

iram1011

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Quote from: SMSabuj on August 16, 2017, 09:01:44 AM

Quote from: soul-impact on March 02, 2017, 11:13:27 AM

Bitcoin: $1260/BTC
Gold: $1241/xau
Well, I can not believe that the Bitcoin prices has crossed over gold sooner than I expect. I thought the process would be finished in April. Wow, Bitcoin is truly worth and everyone who has sold their Bitcoin has made a huge mistake. Nothing can stop Bitcoin right now.

Obviously, Bitcoin will defeat gold. It will cross gold prices. Already Bitcoin is going to sky. I mean Bitcoin price is going so high. Within a few days, Bitcoin will cross $5000 USD.

It is never about price. Bitcoin being limited to 21 million will obviously reach a huge figure while gold's price is driven by various other factors like dollar and oil relation along with demand. Actually they aren't comparable. Most of the people tend to have diversified investment plan including both gold and Bitcoin.

Quote from: ydrogios on August 16, 2017, 12:25:14 PM

When talking about losses and wins one should take into consideration such virable as "time" - in 20 years from now crypto currencies may be long gone, and gold will buy like 10 times more than today.

I agree Bitcoin's future is still uncertain. There are chances that Bitcoin or other cryptocurrencies will be taken over by some other monetary system while gold still be there. But right now Bitcoin is the hot investment in the market and we should enjoy that.

ydrogios

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When talking about losses and wins one should take into consideration such virable as "time" - in 20 years from now crypto currencies may be long gone, and gold will buy like 10 times more than today.

geyayy

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I dont think that bitcoin would be able to defeat gold, as for gold is way more precious that bitcoin. Maybe bitcoin is much more expensive now than gold, but gold will never be gone. Let's just not compare these two.

ydrogios

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Quote from: Anarchist on August 15, 2017, 04:04:48 PM

Behind the current good health of Bitcoin, there is a monetary battle raging in China. If Beijing manages to control transactions better, Bitcoin may not continue for a long time to shadow the venerable gold standard.

Officially the world was taken off the gold standard on 15th of August 1971, when the USA stopped exchanging dollars for gold without premium even for governments, while for individuals the Treasury stopped exchanging dollars for gold without premium on January 30 1934, so there is nothing to shadow long time now.

Lieldoryn

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Quote from: Netnox on August 16, 2017, 09:20:55 AM

Quote from: bajing on August 16, 2017, 09:04:42 AM

I think we can't expect bitcoin prices stay at the same level with the price of one gold bar even the coins can be mined has been run out, it's same we hoping bitcoin price can reach $500,000 or more than it. for me it seems unreasonable.

A bitcoin price of $500,000 per coin (as predicted by John McAfee) seems unreasonable right now, but we can't rule out such a scenario completely. Such a price level will roughly place Bitcoin market cap at the same level with that of gold.

Now, it seems fantastic. It seems to me that in the capitalization of the bitcoin is now a very large part of speculative capital. This leads to instability of prices and the risk that such capital can be removed and sharply bring down the price. Bitcoin need a large number of small users.

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Quote from: SMSabuj on August 16, 2017, 09:01:44 AM

Quote from: soul-impact on March 02, 2017, 11:13:27 AM

Bitcoin: $1260/BTC
Gold: $1241/xau
Well, I can not believe that the Bitcoin prices has crossed over gold sooner than I expect. I thought the process would be finished in April. Wow, Bitcoin is truly worth and everyone who has sold their Bitcoin has made a huge mistake. Nothing can stop Bitcoin right now.

Obviously, Bitcoin will defeat gold. It will cross gold prices. Already Bitcoin is going to sky. I mean Bitcoin price is going so high. Within a few days, Bitcoin will cross $5000 USD.

For this matter is different bitcoins is different from gold so we can't definitely compare its other to its price. we can only speculate the progress and the real value of both through its existence in online or in physical minerals on earth .

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Quote from: bajing on August 16, 2017, 09:04:42 AM

I think we can't expect bitcoin prices stay at the same level with the price of one gold bar even the coins can be mined has been run out, it's same we hoping bitcoin price can reach $500,000 or more than it. for me it seems unreasonable.

A bitcoin price of $500,000 per coin (as predicted by John McAfee) seems unreasonable right now, but we can't rule out such a scenario completely. Such a price level will roughly place Bitcoin market cap at the same level with that of gold.

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Quote from: Schuyler on August 16, 2017, 03:58:37 AM

If we are talking about the price of gold per ounce, then it is clear that bitcoin has overtaken it many times over. But if we are to compare one bitcoin with one gold bar, there is still a long way to go. But it isn't impossible that one day, we see that the price of both are in the same level already, if not bitcoin having the higher price. That might come sooner than later because even if bitcoin is still in its early stages of existence, it already commands a high value because of the finite number of coins that can be mined.

I think we can't expect bitcoin prices stay at the same level with the price of one gold bar even the coins can be mined has been run out, it's same we hoping bitcoin price can reach $500,000 or more than it. for me it seems unreasonable.

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Quote from: soul-impact on March 02, 2017, 11:13:27 AM

Bitcoin: $1260/BTC
Gold: $1241/xau
Well, I can not believe that the Bitcoin prices has crossed over gold sooner than I expect. I thought the process would be finished in April. Wow, Bitcoin is truly worth and everyone who has sold their Bitcoin has made a huge mistake. Nothing can stop Bitcoin right now.

Obviously, Bitcoin will defeat gold. It will cross gold prices. Already Bitcoin is going to sky. I mean Bitcoin price is going so high. Within a few days, Bitcoin will cross $5000 USD.

blackhawkeye1912

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Quote from: stolendata on August 15, 2017, 06:44:18 PM

Quote from: raymart0720 on August 15, 2017, 06:15:10 PM

woaaahh its a new milestone for bitcoin having higher than any currency means higher rate of bitcoin..... and also higher opportunity for miners and savers of btc to do much more for the next decades and history too

i do not think that there is any competition between the two. because both are different from each one. bitcoin is a currency and people are using it for shopping and for running business but, gold is a precious element that people do not use as currency but try to hold it or make jeweler from it.

Agreed, bitcoin don't need to compete to Gold anyway. Because, they're both good to invest in, and they're not the same as well with different features. And different to one another, though Gold was already ancient.

sindikat

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For the price of bitcoin won gold, but investing is like a marathon. You can overtake everyone at the start, but by the end of the race would lose power and come to finish last. So it can happen with bitcoin. It's still early to rejoice.

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