Topic: Bitcoin VS Gold, Bitcoin To Subsititue Gold In The Future? (Read 1402 times)
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for now, bitcoin is under gold but i am sure that in the future, bitcoin will be replace gold as bitcoin have many benefit than gold which is only for a country and not for all of country and the price in each of country is different, but for bitcoin, the price is same in each country and people around the world can trade bitcoin-fiat.
Yess it will totally substitute gold in the future .as the price of bitcoins would fluctuate and if the price of bitcoins people should buy it a lot and the price of bitcoins when high should sell it so that he can make profit.
I think they are they are happy if you overpay $2 over spot for the oversupply of silver in the world. There is all the silver you want in 1000oz bars. How much do you need? I'll tell you were you can buy it.
Don't buy 18,000 oz of silver like I did. You'll end up bankrupt like I am.
Don't buy 18,000 oz of silver like I did. You'll end up bankrupt like I am.
If your goal is to actually make money, you would be buying before there's a physical shortage in 1000oz bars, not after (be first, be smart, or cheat). I also hear even the big players are buying 1 oz silver eagles and NOT huge bars.
The problem is that physical silver coin is not ever going to be used as currency ever again, no matter what happens. Period.
1. We are in a digital age and no one is going backwards, no matter what happens. Period.
2. When global collapses ensues such that you think you might be able to use metal coinage, what actually happens is as follows.
- As Fernando “FerFAL” Aguirre points out, only the currency that can be exchanged external to the crisis area has value. People are not bartering silver dimes, rather if you had German DMarks in Bosnia or USA dollars in Argentina, then these were accepted and liquid. Gold coins were much more difficult to liquidate because there is a funnel of few dealers that can't actually exchange them for the externally liquid currencies of USA dollars.
- As Dmitry Orlov points out, everyone's priority is on food, security, and transportation. Direct trade of these is more valued than some metal which can't be traded for these needs, because these metals are not liquid.
- Armstrong has also explained that gold and silver only have a value for as long as the collapse is not total and there is still an external market. During Dark Ages such as in Japan or fall of Rome, the gold and silver become entirely illiquid (is buried in the ground) and only food, guns, fuel, and alcohol+cigarettes become money.
See the link below to the description of the war in Bosnia:
You apparently lack appreciation of the significance of both marginal prices in economics, and also the non-linear effects of chaos.
1. With marginal prices in Economics 101, the price you pay is set by the most expensive producer. It is not a useful model to think of a 3/4 reduction in food production causing causing a 400% increase in prices, because when you take away 3/4 of the lowest cost producers, the new supply is highest cost producers. So as was the case in Bosnia, where the cost of food was driven by the highest cost producers, a tin can of Spam was $30 to $40, i.e. roughly a 1000% increase. You need to visualize this as disruption of economies-of-scale not only in farming, but also in terms of distribution economies-of-scale, security of farming and distribution economies-of-scale.
2. When the population has become dependent on high economies-of-scale in farming, distribution, credit, government, corporations, etc., and that is taken away by mother nature and or widespread war/pestilence (-4.5 F average temperature reduction in cold climates, with great aggregate effects such as flooding, droughts, etc), then the F.U.B.A.R. human effects are quite non-linear as described in that link bigtimespaghetti provided on surviving the war in Bosnia (which I had read long ago when it was first published). This can further exacerbate application of solutions and thus drive prices another 1000% higher.
Adaptation was essential as explained below, but the following adaptation can't be done if you are surrounded by humans who are suddenly thrust into a situation for which they are not prepared because they will hunt you instead of adapting:
1. With marginal prices in Economics 101, the price you pay is set by the most expensive producer. It is not a useful model to think of a 3/4 reduction in food production causing causing a 400% increase in prices, because when you take away 3/4 of the lowest cost producers, the new supply is highest cost producers. So as was the case in Bosnia, where the cost of food was driven by the highest cost producers, a tin can of Spam was $30 to $40, i.e. roughly a 1000% increase. You need to visualize this as disruption of economies-of-scale not only in farming, but also in terms of distribution economies-of-scale, security of farming and distribution economies-of-scale.
2. When the population has become dependent on high economies-of-scale in farming, distribution, credit, government, corporations, etc., and that is taken away by mother nature and or widespread war/pestilence (-4.5 F average temperature reduction in cold climates, with great aggregate effects such as flooding, droughts, etc), then the F.U.B.A.R. human effects are quite non-linear as described in that link bigtimespaghetti provided on surviving the war in Bosnia (which I had read long ago when it was first published). This can further exacerbate application of solutions and thus drive prices another 1000% higher.
Adaptation was essential as explained below, but the following adaptation can't be done if you are surrounded by humans who are suddenly thrust into a situation for which they are not prepared because they will hunt you instead of adapting:
Makes sense because the purpose of a currency is standardized, interchangeable units of measure, and bullion bars do not fit the bill. They're only useful for industrial applications, which is why many places in Europe charge VAT on bars and not coins. Also easier to avoid counterfeits with coins than bullion bars.
Actually doesn't make sense at all. You want to be buying bullion that can be liquidated if the collapse doesn't go extreme. Otherwise you don't want to be buying precious metals at all.
This is why crypto-currency is going to kick ass.
I would have maybe some 1 oz gold coins for a desperation situation, knowing full well that anyone that takes them in payment is only going to give me 1/10 their "official value" (or original value) in an apocalyptic collapse scenario.
Must better I have dollar bills and even better some crypto-currency, especially some that I am able to use anonymously if needed.
I am not betting on the apocalyptic collapse scenario, because if we go there then what I really need is to be self-sufficient. No amount of monetary currency savings can help me. I would need guns, fellow community, and ability to survive off the land.
Please stop talking nonsense about silver coins as an investment. It is stupidest thing I have ever once thought was true until I woke up from being a dumb ass tinfoil hat.
As for the future, both Hillary and Trump have talked about massive, expensive, public works projects, plus Trump has even talked about defaulting on the debt. Tons of govt spending that won't be paid for is pretty bullish on anything that's not connected to USD debt markets. We also reached peak oil in 2004, so extraction of anything from the earth is inherently more expensive after that date. The markets have just not caught up to the fact yet since markets are manipulated and distorted.
So buy gold bullion.
We also reached peak oil in 2004, so extraction of anything from the earth is inherently more expensive after that date. The markets have just not caught up to the fact yet since markets are manipulated and distorted.
Peak oil is propaganda lie that Rothschilds has been funding same as the Man-made global warming lie.
It is not true. You'd only need the flow of oil out of the ground of a medium size river, to supply the entire world's support of oil. The USA has risen to the #1 global producer over the past decade due to the discovery of fracking.
Besides we are moving away from carbon-based fuels and generation via nuclear energy, solar, hydroelectric, and geothermal. New technological breakthroughs in these areas plus battery technology will obsolete carbon fuels. Also we are moving towards living in high-density cities with mass transportation instead of one human per vehicle. Our vehicles can also improve efficiency by 100 - 200%. The technological innovation whirlwind is underway.
There is no strong case for silver. It is more volatile than gold, less liquid, and there is no supply crunch problem. The precious metal promoters are fooling you with lies and propaganda.
In the end though, you will always have tyranny without metals circulated as currency in native form. A "gold backed" currency is useless, they have to be circulated. Bitcoin does not solve any of those issues because Bitcoin is inherently a technoracy, which is what I told Theymos in the following thread:
https://bitcointalksearch.org/topic/m.16663846
https://bitcointalksearch.org/topic/m.16663846
There is no solution to the inviolable (insoluble) tyranny of the power-law distribution1 and the Iron Law of Political Economics power vacuum.
Sorry just accept the fate of the human race.
That unfortunate fact won't make gold and silver viable again, just because Bitcoin isn't a panacea. There will never be a panacea. Give up.
1 A. Dragulescu and V. Yakovenko. Exponential and power-law probability distributions of wealth and income in the United Kingdom and the United States.
Bitcoin's present status is young compared to Gold which as over the years sojourned far and wide.However,the issue of bitcoin substituting Gold in the future is not possible even though Bitcoin is new,growing in popularity and all its unstable nature in the market is a major flaw which its yet to surpass a stage in which Gold as conquered a long time ago.
Gold will always have more value to me than some digital Numbers on the internet.
It's something you can touch, hide, smell or use it for rings, clothes, computers.
Bitcoin is just a token for payments (for now) nothing more.
It's something you can touch, hide, smell or use it for rings, clothes, computers.
Bitcoin is just a token for payments (for now) nothing more.
Older generation of people usually share the same view (me included). But the future is shaped by the young and the new thinking type.
Gold will always have more value to me than some digital Numbers on the internet.
It's something you can touch, hide, smell or use it for rings, clothes, computers.
Bitcoin is just a token for payments (for now) nothing more.
It's something you can touch, hide, smell or use it for rings, clothes, computers.
Bitcoin is just a token for payments (for now) nothing more.
Bitcoin is more convenient as compared to precious metals like gold.Carrying such precious metals would be a big pain in ass,mostly while moving cross the border or something similar.Bitcoin cuts off such troubles.
I think the product thats easier to trade will be more succesful in the future, XetraGold for example is a share backed up with gold thats easy to trade but only a few people know about it.
Bitcoin has almost recovered all the gap it had against gold and probably in the future its growth will continue as fast as we know.
This is still unpredictable.
Gold has stable price but bitcoin still raising (but got attention) but still lower than gold.
When the time has come i think we can decide if gold can be subtitute by bitcoin
Gold has stable price but bitcoin still raising (but got attention) but still lower than gold.
When the time has come i think we can decide if gold can be subtitute by bitcoin
Bitcoin is still very young when comparing to gold.
High tech also means high dependency on infrastructure that has proven not to be reliable in time of disaster, crisis and social unrest. Gold, on the other hand, can be a standalone product without any kind of dependency.
For money of last resort, I would choose gold over bitcoin.
High tech also means high dependency on infrastructure that has proven not to be reliable in time of disaster, crisis and social unrest. Gold, on the other hand, can be a standalone product without any kind of dependency.
For money of last resort, I would choose gold over bitcoin.
Bitcoin was the currency of hardcore tech savvy people just a few years ago. The rate of development and popularity around this cryptocurrency has been immense over the recent years. Bitcoin has grown to accommodate the needs of a population very new to the digital world. Luckily the currency shares many features with the precious metal gold which has ultimately led to its survival and value.
Read the full story exclusively @ http://coinfinance.com/news/bitcoin-vs-gold-bitcoin-to-subsititue-gold-in-the-future
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Read the full story exclusively @ http://coinfinance.com/news/bitcoin-vs-gold-bitcoin-to-subsititue-gold-in-the-future
ps. Dont forget to share it on twitter
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