Topic: Bitcoin moving on the pathway of Gold - page 2. (Read 513 times)
Unfortunatly, sec dont want to llow ETF. They are scared about mass adoption
bitcoin and gold are not similar by any metric
No they aren't. And I would also say that a lot of things have similar charts like that if you cherry pick the time frame. I'm nearly positive there are probably a hundred stocks that would have very similar looking peaks if you look all throughout their price histories. A lot of this has to do with what the investment community is doing as a whole. Notice that the charts of blue chip stocks often look just like the chart for the DJIA or that the DJIA chart looks like the S&P 500's chart? It's big money being piled into multiple investments all at once, and prices tend to rise and fall in tandem. What op showed with that chart does NOT mean that bitcoin and gold are correlated.
I am disagreeing a lot of statements that say bitcoin is the next gold but seeing this chart really amazes and surprises me. I might consider what may happen but I don't think we should also think that bitcoin will be the next gold. It is not that I am close-minded about this, it is just that we all know that cryptocurrency, an intangible digital currency like bitcoin will never be the same as Gold.
they are very different, let us say, people have their bitcoins and gold with them, the main difference is that, many people accumulate many bitcoins and it becomes much more valuable, while with gold, the value doesn't depends on the number of people using it, but to the number of years it takes for its value to increase based on their common characteristics which is the less they become, the more they cost in the market.
That's what I said. The reason I said cryptocurrency since we all know the price depends on the demand for it. I think you misunderstood my statement. I did say they are different.
I am disagreeing a lot of statements that say bitcoin is the next gold but seeing this chart really amazes and surprises me. I might consider what may happen but I don't think we should also think that bitcoin will be the next gold. It is not that I am close-minded about this, it is just that we all know that cryptocurrency, an intangible digital currency like bitcoin will never be the same as Gold.
they are very different, let us say, people have their bitcoins and gold with them, the main difference is that, many people accumulate many bitcoins and it becomes much more valuable, while with gold, the value doesn't depends on the number of people using it, but to the number of years it takes for its value to increase based on their common characteristics which is the less they become, the more they cost in the market.
Those 2 chars looks almost identical. I would expect Bitcoin to follow gold pattern in a different way but in the same time to have the same growth but this would mean that we're about to witness the last pump of bitcoin ? If that is the case , Bitcoin needs to achieve a lot more in order to separate itself from the gold and from the pattern as this is the only similar they're having right now. Remember we're still years away from Bitcoin mining supply getting done so I have my reasons to believe Bitcoin will be a lot more bigger than gold chart.
Just a false equivalency, focusing on things people always say (Bitcoin is a digital gold) and focusing on two extremely different timeline graphs and making them look similar. I wouldn't compare the two on price especially over such a long timeline compared to bitcoins short lifespan so far.
do not compare the two because they are not the same, so far I have used them as an investment, but bitcoin for me is still the best. 
The graphs of Bitcoin and gold are too similar and this can be an indicative for Bitcoin to boom like gold in the future. And I believe that Bitcoin will overtake gold in 10-15 years from now.
Obviously the market share is different between gold and bitcoin, charts cannot determine that there are similarities. from the price movement alone is very different between bitcoin and gold.bitcoin will still become a new market share besides gold, and they will move on their own and will not influence or take over each other.
also to add
gold 1980-2018
average Cost Loaf of Bread Food
1980 50 cents 2018 $2.50
so 1980's gold price of $2200 = 4400 loaves
so golds current price of $1400 = 560 loaves
golds purchasing power has DROPPED by 800%
bitcoins purchasing power of 2009 - 2019
2010 1 slice - today 3400 loaves
bitcoin and gold are not similar by any metric
Wait a second how did you take 1980's gold price at $2200? As far as i can see the records it was $35 in 1970 and then ran all the way upto $599 in 1980 and then it is now today at $1400 after touching an all time high of around 1570-1580. So can you please clear how you took gold's price at $2200 when it has never reached until that height. gold 1980-2018
average Cost Loaf of Bread Food
1980 50 cents 2018 $2.50
so 1980's gold price of $2200 = 4400 loaves
so golds current price of $1400 = 560 loaves
golds purchasing power has DROPPED by 800%
bitcoins purchasing power of 2009 - 2019
2010 1 slice - today 3400 loaves
bitcoin and gold are not similar by any metric
The graphs of Bitcoin and gold are too similar and this can be an indicative for Bitcoin to boom like gold in the future. And I believe that Bitcoin will overtake gold in 10-15 years from now.
I personally think the comparison of Gold with Bitcoin doesn't makes any sense but I couldn't stop myself from sharing this chart comparison between both. Some would say that gold's chart is twitched and time frames are taken in such a way to look like that of Bitcoin but that actually is a normal chart and taken from recent history. Moreover, I am not saying that Bitcoin ETF could provoke a similar pump but similarity on chart does show that this isn't quite the end of BTC and neither are we becoming stagnant here.
picture credits: @bitcoin_holders
picture credits: @bitcoin_holders
It is really interesting to see that Bitcoin has a very similar graph to gold. If we take account that Bitcoin is growing faster compared to gold, the future graph will be much better than gold's I think.
I am disagreeing a lot of statements that say bitcoin is the next gold but seeing this chart really amazes and surprises me. I might consider what may happen but I don't think we should also think that bitcoin will be the next gold. It is not that I am close-minded about this, it is just that we all know that cryptocurrency, an intangible digital currency like bitcoin will never be the same as Gold.
Interesting observation. Personally, I don't believe that bitcoin would lose its relevance especially in our time. Bitcoin and gold both have limited total supply too. It could be just a coincidence or it's just the trend of new currencies. However, we still could not say the future movement of bitcoin, we cannot predict based on this observation. But one thing's for sure, bitcoin would not be gone soon and would still continue to be known to the general public.
also to add
gold 1980-2018
average Cost Loaf of Bread Food
1980 50 cents 2018 $2.50
so 1980's gold price of $2200 = 4400 loaves
so golds current price of $1400 = 560 loaves
golds purchasing power has DROPPED by 800%
bitcoins purchasing power of 2009 - 2019
2010 1 slice - today 3400 loaves
bitcoin and gold are not similar by any metric
gold 1980-2018
average Cost Loaf of Bread Food
1980 50 cents 2018 $2.50
so 1980's gold price of $2200 = 4400 loaves
so golds current price of $1400 = 560 loaves
golds purchasing power has DROPPED by 800%
bitcoins purchasing power of 2009 - 2019
2010 1 slice - today 3400 loaves
bitcoin and gold are not similar by any metric
i cant believe people are still posting that they actually believe gold market and bitcoin market are similar... all because of a twitter meme
are people really that gullible
check out my last post in this topic for clarification
are people really that gullible
check out my last post in this topic for clarification
you can always manipulate any chart of any asset to look like the charts of any other asset just by a simple change of intervals, zoom, ... that doesn't mean the two markets are the same or even have anything in common.
this charts has been around for a while comparing bitcoin to gold. it is mostly trying to convince people that bitcoin is going up because gold has gone up and also relate all that to ETF. it also started during the downtrend and the height of SEC ETF rejections.
long story short the two, have nothing in common and bitcoin will go up and sometimes it may resemble gold but it is still a completely independent market with rises that are nothing like any other market.
this charts has been around for a while comparing bitcoin to gold. it is mostly trying to convince people that bitcoin is going up because gold has gone up and also relate all that to ETF. it also started during the downtrend and the height of SEC ETF rejections.
long story short the two, have nothing in common and bitcoin will go up and sometimes it may resemble gold but it is still a completely independent market with rises that are nothing like any other market.
Although graphs depict almost same results for bitcoin and gold but we cant compare both because each has its own importance as btc is digitally valued and gold is physical store of value which can be exchanged in legal currency.But btc has shown major growths in the past and prices are highly volatile and we can loose all money but this is not the case of gold as it will always have a monetary value.All that i want is btc grow to much higher level once again so we can gain profits.
So simple to see the comparison but its hard to see the future movements of bitcoin. We all want that to happen, to see bitcoin to move above all currency. In time hoping for that to happen, will just buy and sell if there’s a good chance to take profit and I’m hope that bitcoin will become more stable like gold so everyone can now use it as a mode of payments with a less risk.
In as much that bitcoin might have some similar characteristics with Gold in terms of market growth and market cap, Bitcoin in no way moving on the pathway of Gold.
The market volume of Gold has a level of consistency and it's market price has a low level of fluctuation, whiles bitcoin, on the other hand, has nothing similar to this.
The market price of Bitcoin keeps fluctuating due to the volatile nature of it. How can bitcoin be moving in the pathway of Gold when its price is not somehow stable enough?
The market volume of Gold has a level of consistency and it's market price has a low level of fluctuation, whiles bitcoin, on the other hand, has nothing similar to this.
The market price of Bitcoin keeps fluctuating due to the volatile nature of it. How can bitcoin be moving in the pathway of Gold when its price is not somehow stable enough?
indeed to make a picture like this is very easy but if realizing a very high price like that would be very difficult to happen, now imagine if everyone knew this position then who would buy bitcoin? everything will definitely wait until the price goes up but no one buys bitcoin anymore.
I personally think the comparison of Gold with Bitcoin doesn't makes any sense but I couldn't stop myself from sharing this chart comparison between both. Some would say that gold's chart is twitched and time frames are taken in such a way to look like that of Bitcoin but that actually is a normal chart and taken from recent history. Moreover, I am not saying that Bitcoin ETF could provoke a similar pump but similarity on chart does show that this isn't quite the end of BTC and neither are we becoming stagnant here.
picture credits: @bitcoin_holders
picture credits: @bitcoin_holders
It is really interesting to see that Bitcoin has a very similar graph to gold. If we take account that Bitcoin is growing faster compared to gold, the future graph will be much better than gold's I think.
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