Bitcoin or Gold? What would you pick? - page 165.

deisik

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Quote from: STT on June 30, 2014, 07:34:16 PM

Quote

gold is old

Absolutely and that is its worth. Old is good, it means durable, tried and tested. When you spent your whole life earning and you are approaching a part of life of questionable health the very last thing you want to do is engage in risk or some new fad for saving your wealth. People dont yet realise it but the misdirection of the dollar standard for political reasons has been reckless and dangerous to the health not just of the government but the people who are relying on it for stability, its quite likely they choose some alternative less risky at some point

You forget that gold can be and has already been expropriated in the United States under Roosevelt. And now try to play the same trick to Bitcoin... Cool

tinof

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For really long term, gold.

For short term, bitcoin.

sherbyspark

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I would go for Gold, as its related to the economy and there isnt fluctuation as the bitcoin.

DannyElfman

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Quote from: ajareselde on June 30, 2014, 05:53:54 PM

Quote from: kekky on April 26, 2014, 01:56:31 PM

If given a choice to walk away with either Bitcoin or gold of equivalent value, what would you pick?

Asians and Westerners were asked in Taipei in Chinese and English if they would take Bitcoin or gold home with them that day, and the answer might surprise you...

http://www.youtube.com/watch?v=m6GiC8dqN9A

We just shot a video outside the Taipei 101 skyscraper area here and gave people a chance to answer if they would walk away with either Bitcoin or gold- and why.

If you were approached and were offered the same deal, would you walk away with Bitcoin or gold in your pocket, and why???

as it has been said over and over again, dont put all eggs in one basket.
i would personal go 40gold - 60 bitcoin.

why would you chose this ratio of gold to bitcoin? What makes bitcoin so much better that you would want 1.5x the amount you invest in gold?

STT

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Bitcoin and gold are related in that they are both alternatives to the dollar. So yes different elements entirely but their greater use is keying off the same thing which is reserve currency or global transactions.
If bitcoin was somehow restricted to just one state or county then it would not be nearly as useful, it is the global element and the ability to traverse borders without red tape that will drive its success

Quote

gold is old

Absolutely and that is its worth. Old is good, it means durable, tried and tested. When you spent your whole life earning and you are approaching a part of life of questionable health the very last thing you want to do is engage in risk or some new fad for saving your wealth. People dont yet realise it but the misdirection of the dollar standard for political reasons has been reckless and dangerous to the health not just of the government but the people who are relying on it for stability, its quite likely they choose some alternative less risky at some point

ajareselde

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Satoshi is rolling in his grave. #bitcoin

Quote from: kekky on April 26, 2014, 01:56:31 PM

If given a choice to walk away with either Bitcoin or gold of equivalent value, what would you pick?

Asians and Westerners were asked in Taipei in Chinese and English if they would take Bitcoin or gold home with them that day, and the answer might surprise you...

http://www.youtube.com/watch?v=m6GiC8dqN9A

We just shot a video outside the Taipei 101 skyscraper area here and gave people a chance to answer if they would walk away with either Bitcoin or gold- and why.

If you were approached and were offered the same deal, would you walk away with Bitcoin or gold in your pocket, and why???

as it has been said over and over again, dont put all eggs in one basket.
i would personal go 40gold - 60 bitcoin.

gbooz

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The history shows, that residual value for the gold likely to stay positive. Bitcoin promises a better gain, but it could "explode" like a bubble, leaving you with nothing. Bitcoin and gold are very little connected to each other. So, I would diversify the portfolio with both.

Marlo Stanfield

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Quote from: Furio on June 30, 2014, 01:02:49 PM

Quote from: kekky on April 26, 2014, 01:56:31 PM

If given a choice to walk away with either Bitcoin or gold of equivalent value, what would you pick?

Asians and Westerners were asked in Taipei in Chinese and English if they would take Bitcoin or gold home with them that day, and the answer might surprise you...

http://www.youtube.com/watch?v=m6GiC8dqN9A

We just shot a video outside the Taipei 101 skyscraper area here and gave people a chance to answer if they would walk away with either Bitcoin or gold- and why.

If you were approached and were offered the same deal, would you walk away with Bitcoin or gold in your pocket, and why???

Bitcoin without doubt, greater potential to growth!

Yeah, I don't think anyone can argue that at least potentially, bitcoin has a much higher upside potential than gold. Gold's scenario for massive rises in value coincides with the complete tear down of the global, or at the the Us economy. While bitcoin would also see benefit from something like that it's not something that's required to happen by any means for bitcoin to see some very big gains.

gbooz

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Quote from: Furio on June 30, 2014, 01:02:49 PM

Quote from: kekky on April 26, 2014, 01:56:31 PM

If given a choice to walk away with either Bitcoin or gold of equivalent value, what would you pick?

Asians and Westerners were asked in Taipei in Chinese and English if they would take Bitcoin or gold home with them that day, and the answer might surprise you...

http://www.youtube.com/watch?v=m6GiC8dqN9A

We just shot a video outside the Taipei 101 skyscraper area here and gave people a chance to answer if they would walk away with either Bitcoin or gold- and why.

If you were approached and were offered the same deal, would you walk away with Bitcoin or gold in your pocket, and why???

Bitcoin without doubt, greater potential to growth!

Yes, but TODAY the bitcoin tend to be inherently unstable, has limited connection with the real economy, their low volume traded, comparing with gold and it is a lack of wide user acceptance, comparing with gold.

Ayers

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Leading Crypto Sports Betting & Casino Platform

bitcoin 100%, gold is old

Furio

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BTC | LTC | XLM | VEN | ARDR

Quote from: kekky on April 26, 2014, 01:56:31 PM

If given a choice to walk away with either Bitcoin or gold of equivalent value, what would you pick?

Asians and Westerners were asked in Taipei in Chinese and English if they would take Bitcoin or gold home with them that day, and the answer might surprise you...

http://www.youtube.com/watch?v=m6GiC8dqN9A

We just shot a video outside the Taipei 101 skyscraper area here and gave people a chance to answer if they would walk away with either Bitcoin or gold- and why.

If you were approached and were offered the same deal, would you walk away with Bitcoin or gold in your pocket, and why???

Bitcoin without doubt, greater potential to growth!

gbooz

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Quote from: Benjig on June 24, 2014, 09:20:45 PM

Quote from: Harley997 on June 24, 2014, 08:18:56 PM

Quote from: nwfella on June 23, 2014, 03:29:50 PM

Given the amount of potential growth between the two I think I will stick with bitcoin thank you very much.

What about the stability factor?

Indeed gold can be better than fiat, but not than bitcoin, with bitcoin if you lose a little in a downtrend, you can be sure that you will recover that and more in next months, gold bear market has been for 2 years now.

Bitcoin for the time being is more like a lottery ticket. Even nor a ticket - a ticket number. So, preferences will depend on risk/profit expectations.

DannyElfman

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Quote from: Bogleg on June 27, 2014, 11:15:53 PM

Hedging strategy doesn't work on highly volatile underlining asset. A 50-100% price movement will wipe out just about anyone using leverage.

If you had put options (a hedging strategy) and the underlying went to zero then you would be protected from the strike price of the put all the way down to zero less the premium (cost) that you paid for the put.

deisik

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Quote from: Bogleg on June 27, 2014, 11:15:53 PM

Hedging strategy doesn't work on highly volatile underlining asset. A 50-100% price movement will wipe out just about anyone using leverage.

A 100% price downward movement would indeed wipe out just everyone, since it would mean the price coming to naught (could actually happen if a company goes belly up)...

Bogleg

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Hedging strategy doesn't work on highly volatile underlining asset. A 50-100% price movement will wipe out just about anyone using leverage.

STT

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I read Hunt was sued by a silver mine probably for that reason. I'd still blame the mine for messing up their hedging strategy but apparently they won the case. I own a mining share that took contracts to sell gold at $1600 and some lower then that, with gold lower for so long now its proved them right to do so.
Doesnt work profitably forever but that is the correct use of derivatives, they dont blow up by themselves; same thing for housing debt or whatever

unpure

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Quote from: STT on June 26, 2014, 07:04:51 PM

Quote from: wenben on June 25, 2014, 09:00:06 PM

And the Hunt brothers get burned badly. Which kind of tell people long term price can not be manipulated no matter how powerful the individual/government is.

He used leverage and futures contract plus of course others had joined in on the trade like some of the Arabs, so there was a swing effect and it smacked him in the mouth. Fairly sure he broke his own rules by using that leverage to buy silver, if he had balanced it by also owning a silver mine so all contracts he took could be hedged on some timeline then it maybe have worked. JP morgan does own a silver mine and with much chagrin sells silver contracts with leverage, they probably do quite well from that.

The relevance to bitcoin is that we saw recently fractional reserve bitcoin exchange breakdown and we may see other failures as people get the exchange rate to dollar wrong even short term. The main deal is not centralise that failure, the Hunts failed to propagate their idea beyond speculators. This is a shame as we've seen solid money is much in need and they were not wrong on that

Silver companies who hedged using future contract run into trouble as well. While they have the silver supply on the ground, they still need money to hold the margin position as the price go against them on paper.

DANIEL77

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50% BTC and 50% gold. I prefer diversification. Wink

deisik

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Quote from: sukamasoto on June 26, 2014, 11:07:57 PM

Quote from: kekky on April 26, 2014, 01:56:31 PM

If given a choice to walk away with either Bitcoin or gold of equivalent value, what would you pick?

Asians and Westerners were asked in Taipei in Chinese and English if they would take Bitcoin or gold home with them that day, and the answer might surprise you...

http://www.youtube.com/watch?v=m6GiC8dqN9A

We just shot a video outside the Taipei 101 skyscraper area here and gave people a chance to answer if they would walk away with either Bitcoin or gold- and why.

If you were approached and were offered the same deal, would you walk away with Bitcoin or gold in your pocket, and why???

I prefer gold because gold prices always go up
With the ever bitcoin another case with an uncertain price at any time

Did you buy gold at ATH (all time high)? Roll Eyes

sukamasoto

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Black Panther

Quote from: kekky on April 26, 2014, 01:56:31 PM

If given a choice to walk away with either Bitcoin or gold of equivalent value, what would you pick?

Asians and Westerners were asked in Taipei in Chinese and English if they would take Bitcoin or gold home with them that day, and the answer might surprise you...

http://www.youtube.com/watch?v=m6GiC8dqN9A

We just shot a video outside the Taipei 101 skyscraper area here and gave people a chance to answer if they would walk away with either Bitcoin or gold- and why.

If you were approached and were offered the same deal, would you walk away with Bitcoin or gold in your pocket, and why???

I prefer gold because gold prices always go up
With the ever bitcoin another case with an uncertain price at any time

Topic: Bitcoin or Gold? What would you pick? - page 165. (Read 299008 times)