Bitcoin Price Parity, from "Shave and a Haircut" to "Gold" and beyond

Mometaskers

hero member

Activity: 1764

Merit: 584

Still keeping my fingers crossed that the fork wouldn't destroy bitcoin. I know both are promising improvements to tx fees and confirmation time but they're certainly making people jittery. Still have no idea how things would be after the fork. But I'm assuming it there would be some sort of competition between the two coins.

Quote from: posternat on April 03, 2017, 01:25:09 AM

Quote from: Pursuer on April 03, 2017, 12:54:56 AM

I was searching around and I found this old topic by Hal Finney from back in 2011, Shave and a haircut, two bitcoins

Quote from: Hal on June 06, 2011, 01:13:58 AM

Just noticed that we've reached "shave and a haircut" parity. The old secret knock is becoming true once again.

Quote from: coindesk on March 02, 2017, 03:00:00 PM

Bitcoin's price has reached parity with the per-ounce spot price of gold, according to the CoinDesk Bitcoin Price Index (BPI).

The per-ounce spot price for gold is $1,237.73, according to the XAU/USD spot exchange rate provided by Bloomberg Markets. Bitcoin's price, by comparison, is at $1,238.11, having opened the day at $1,230.02, BPI data shows.

it is funny sometimes when you look back and see the same talks going on back in early years but about a different price. and this is just one example

Haha, shave and hair cut in 2 bitcoins. that really look funny now. Also it shows how much bitcoin has developed with time. Long ago it had no value at all and now it is the most precious thing around.

So true, I can't even buy a whole coin even with the recent plunge. Even with the lowest a week ago, it's still double the price of it last December in my currency. I wouldn't be able to afford to buy whole, just a few bits here and there.

Kprawn

legendary

Activity: 1904

Merit: 1074

I wonder what Hal would have said about the fighting going on at the moment between BU and BTC Core developers. He was just as close to

Satoshi as Gavin was and would have given very valuable inputs. It is a shame that we have to lose brilliant people like that, so early. I would

also like to know what other people would say about this, like Martti Malmi. Roll Eyes

BillyBobZorton

legendary

Activity: 1204

Merit: 1028

Rally is looking good,it should last as long as the BU camp does not come back again with more FUD, like Jihan Wu treatening with a hardfork and whatnot. We must stay together supporting bitcoin and we will reach the moon. Segwit will make us reach mars.

numismatist

legendary

Activity: 1245

Merit: 1004

Quote from: Pursuer on April 03, 2017, 12:54:56 AM

Quote from: coindesk on March 02, 2017, 03:00:00 PM

Bitcoin's price has reached parity with the per-ounce spot price of gold, according to the CoinDesk Bitcoin Price Index (BPI).

The per-ounce spot price for gold is $1,237.73, according to the XAU/USD spot exchange rate provided by Bloomberg Markets. Bitcoin's price, by comparison, is at $1,238.11, having opened the day at $1,230.02, BPI data shows.

You cannot compare one ounce onto one bitcoin! The compared base sizes are choosen wrong!

First I pointed out that comparing ounces would be like comparing cents against satoshis. A single dollar cent values more than a single satoshi. So you should choose an ingot which values more like 40,000.00 $ and than comparing that to your bitcoin. Where it looses again.

But that's done wrong again, since 1 BTC equals 1 / 21,000,000 of total supply, so you should compare with an 1 / 21,000,000 unit of total available gold supply. Frankly said we have reached "parity" if the market capitalisation of bitcoin equals the capitalisation of total gold available. Which is further complex because some of that is historical art, you can't mold Tut-Ench-Amun's mask into an ingot without getting cursed by some obscure egypt catness deity and such.

We should refrain from those catchy comparisons and just carry on instead.

SONG GEET

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Activity: 700

Merit: 500

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Quote from: tobacco123 on April 03, 2017, 01:55:43 AM

The current fight between the two improvement proposal is the biggest hurdle... but I have no doubt that once we passed it the price will increase tremendously beyond our imagination...

This block size debate may not get over even within next few years but we may not see same level of panic among bitcoin traders in future due to Hard Fork FUD.

Qartada

hero member

Activity: 546

Merit: 500

Maybe it's a sign that the doomsayers are wrong and Bitcoin will keep going up. It's not like this rise to gold prices was a gradual increase, it was loads of huge drops and rises which overall were a rise, so even if Bitcoin drops like it did in 2013 it would still be on a long-term uptrend.

BTCLovingDude

legendary

Activity: 1134

Merit: 1010

BTC to the moon is inevitable...

we have indeed come a long way from those super cheap days. and we still have a longer way to go and a lot more room to go up. this is just a start. and people never change, those who believed price is going up still believe it and those who were full of doubt are still the same and can not believe price can go higher and when it does they keep saying it is fake and years go by with price still rising with them on the sideline.

freedomno1

legendary

Activity: 1806

Merit: 1090

Learning the troll avoidance button :)

Quote from: Pursuer on April 03, 2017, 12:54:56 AM

I was searching around and I found this old topic by Hal Finney from back in 2011, Shave and a haircut, two bitcoins

Quote from: Hal on June 06, 2011, 01:13:58 AM

Just noticed that we've reached "shave and a haircut" parity. The old secret knock is becoming true once again.

Quote from: coindesk on March 02, 2017, 03:00:00 PM

Bitcoin's price has reached parity with the per-ounce spot price of gold, according to the CoinDesk Bitcoin Price Index (BPI).

The per-ounce spot price for gold is $1,237.73, according to the XAU/USD spot exchange rate provided by Bloomberg Markets. Bitcoin's price, by comparison, is at $1,238.11, having opened the day at $1,230.02, BPI data shows.

it is funny sometimes when you look back and see the same talks going on back in early years but about a different price. and this is just one example

The time machine is fun, the people sometimes change over time but the ideas remain the same.
Well for the most part less D@T high level stuff but the general convo's retain their similarities.

Schuyler

hero member

Activity: 518

Merit: 500

Quote from: posternat on April 03, 2017, 01:25:09 AM

Quote from: Pursuer on April 03, 2017, 12:54:56 AM

I was searching around and I found this old topic by Hal Finney from back in 2011, Shave and a haircut, two bitcoins

Quote from: Hal on June 06, 2011, 01:13:58 AM

Just noticed that we've reached "shave and a haircut" parity. The old secret knock is becoming true once again.

Quote from: coindesk on March 02, 2017, 03:00:00 PM

Bitcoin's price has reached parity with the per-ounce spot price of gold, according to the CoinDesk Bitcoin Price Index (BPI).

The per-ounce spot price for gold is $1,237.73, according to the XAU/USD spot exchange rate provided by Bloomberg Markets. Bitcoin's price, by comparison, is at $1,238.11, having opened the day at $1,230.02, BPI data shows.

it is funny sometimes when you look back and see the same talks going on back in early years but about a different price. and this is just one example

Haha, shave and hair cut in 2 bitcoins. that really look funny now. Also it shows how much bitcoin has developed with time. Long ago it had no value at all and now it is the most precious thing around.

I wouldn't say (yet) that it is the most precious thing as diamonds and gold are still worth more than one whole bitcoin. The market cap is increasing as we speak and that bodes well for bitcoin in the long run. At current price, what is the equivalent product that can be bought? A high end mobile phone or laptop are among the things I can think of, and most definitely not a box of pizza.

tobacco123

sr. member

Activity: 552

Merit: 250

The current fight between the two improvement proposal is the biggest hurdle... but I have no doubt that once we passed it the price will increase tremendously beyond our imagination...

posternat

hero member

Activity: 798

Merit: 500

Quote from: Pursuer on April 03, 2017, 12:54:56 AM

I was searching around and I found this old topic by Hal Finney from back in 2011, Shave and a haircut, two bitcoins

Quote from: Hal on June 06, 2011, 01:13:58 AM

Just noticed that we've reached "shave and a haircut" parity. The old secret knock is becoming true once again.

Quote from: coindesk on March 02, 2017, 03:00:00 PM

Bitcoin's price has reached parity with the per-ounce spot price of gold, according to the CoinDesk Bitcoin Price Index (BPI).

The per-ounce spot price for gold is $1,237.73, according to the XAU/USD spot exchange rate provided by Bloomberg Markets. Bitcoin's price, by comparison, is at $1,238.11, having opened the day at $1,230.02, BPI data shows.

it is funny sometimes when you look back and see the same talks going on back in early years but about a different price. and this is just one example

Haha, shave and hair cut in 2 bitcoins. that really look funny now. Also it shows how much bitcoin has developed with time. Long ago it had no value at all and now it is the most precious thing around.

Xester

hero member

Activity: 994

Merit: 544

Quote from: Pursuer on April 03, 2017, 12:54:56 AM

I was searching around and I found this old topic by Hal Finney from back in 2011, Shave and a haircut, two bitcoins

Quote from: Hal on June 06, 2011, 01:13:58 AM

Just noticed that we've reached "shave and a haircut" parity. The old secret knock is becoming true once again.

Quote from: coindesk on March 02, 2017, 03:00:00 PM

Bitcoin's price has reached parity with the per-ounce spot price of gold, according to the CoinDesk Bitcoin Price Index (BPI).

The per-ounce spot price for gold is $1,237.73, according to the XAU/USD spot exchange rate provided by Bloomberg Markets. Bitcoin's price, by comparison, is at $1,238.11, having opened the day at $1,230.02, BPI data shows.

it is funny sometimes when you look back and see the same talks going on back in early years but about a different price. and this is just one example

New topics actually sometimes evolved from old topics. Our concerns today are also the concerns of people before thus reviving the issue by posting the topic again and again will remind us that those problems they have before is the same problems we are facing now. By analysis we can make a conclusion to things inf bitcoin had improved or not or it has become worst.

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

I was searching around and I found this old topic by Hal Finney from back in 2011, Shave and a haircut, two bitcoins

Quote from: Hal on June 06, 2011, 01:13:58 AM

Just noticed that we've reached "shave and a haircut" parity. The old secret knock is becoming true once again.

Quote from: coindesk on March 02, 2017, 03:00:00 PM

Bitcoin's price has reached parity with the per-ounce spot price of gold, according to the CoinDesk Bitcoin Price Index (BPI).

The per-ounce spot price for gold is $1,237.73, according to the XAU/USD spot exchange rate provided by Bloomberg Markets. Bitcoin's price, by comparison, is at $1,238.11, having opened the day at $1,230.02, BPI data shows.

it is funny sometimes when you look back and see the same talks going on back in early years but about a different price. and this is just one example

Topic: Bitcoin Price Parity, from "Shave and a Haircut" to "Gold" and beyond (Read 508 times)