Current BTC/ounce of Gold is??? how would you suggest it be worked out? using Fiat Paper Price or using Coinabul or other current cash price sales?
Topic: BTC buying power of Gold!?!? - page 2. (Read 2203 times)
Thanks for you comments. I'm still not clear how you answered the Poll? You are welcome to argue for a particular answer. I agree that it would be exciting to see the Paper Price of gold a lot higher. This poll is actually much more focused on the BTC price per ouce... I will edit notes at the beggining to reflect that
Current BTC/ounce of Gold is??? how would you suggest it be worked out? using Fiat Paper Price or using Coinabul or other current cash price sales?
Current BTC/ounce of Gold is??? how would you suggest it be worked out? using Fiat Paper Price or using Coinabul or other current cash price sales?
Bitcoin is virtual gold: it has all the properties of gold, where "tangible" is replaced with "knowledgeable" for the lack of better word. Bitcoin is information.
Bitcoin already has an advantage because it can't be rehypothecated and can be carried/transferred around in pure information form. Bitcoin will gain more advantage when the price of gold goes high enough so that it's economically feasible to start mining asteroids for gold: The supply of gold will keep on increasing as the price goes up.
Bitcoin already has an advantage because it can't be rehypothecated and can be carried/transferred around in pure information form. Bitcoin will gain more advantage when the price of gold goes high enough so that it's economically feasible to start mining asteroids for gold: The supply of gold will keep on increasing as the price goes up.
Welcome All to a Viscera Poll
Please read the question carefully before giving your answer. I will include here some explanations to help you understand the question, if you still find something is unclear, please let me know and I will clarify.
This poll is for Bitcoiners who are paying attention to the price of Gold in BTC as opposed to thinking in terms of fiat (read fake) currencies. Anyone who thinks of themselves as being informed on this subject is encouraged to answer in the Poll. You don't need to be an expert, and although I consider myself informed on gold and BTC, I don't know how to judge technical charts or understand the maths.
Therefore I can only go with my Gut instinct at this time and will tell you that my current answer is "Maybe - Buy Gold" This does not mean "buy gold with BTC", it means I think it's important to own Gold (and silver) but I think it's equally important to be a Bitcoiner.
This answer may be edited if you change your mind. Discussion of this poll could lead to some consensus among Bitcoiners on a BTC price for gold or at least a Buy/Sell order for Gold and that would be very exciting.
If you would like to leave a reason for your answer, argue for a particular answer, or discuss related topics such as silver, your replies will be most interesting.
Thanks for reading
Edit 25th of May,
It's clear at this stage "yes - don't buy gold is way out in front. currently about 40%
Edit 1
First Clarification (Thanks for you replies and PM's)
Will BTC maintains it's current purchasing price of Gold? (not paper gold, gld etc)
eg.
Coinabul as of the 22/5/2013 (5/22/2013 for Americans)
South African Gold Krugerrand - 1 Troy ounce
฿12.2362
If the Price of Gold where to suddenly shoot up to US$4000 per ounce, would the BTC price remain stable? In other words would the price of BTC suddenly rise to reflect the rise in the price of Gold? I you had a lot of BTC and you thought the answer was no, it would make sense to buy Gold now. If the price of Gold was suddenly $4000 per ounce, BTC would have to have a price of US$327 to buy the same one ounce Kruggerand from Coinabul. Keep in mind I think it's a dam good paper price... I'm just not sure if it's a good BTC price, so far BTC is kicking Gold ass, BTC might be $500 in which case you would only need 8 BTC one ounce of gold.
Keep in mind you can change your answer... so far I'm still in the Maybe camp
Viscera
Please read the question carefully before giving your answer. I will include here some explanations to help you understand the question, if you still find something is unclear, please let me know and I will clarify.
This poll is for Bitcoiners who are paying attention to the price of Gold in BTC as opposed to thinking in terms of fiat (read fake) currencies. Anyone who thinks of themselves as being informed on this subject is encouraged to answer in the Poll. You don't need to be an expert, and although I consider myself informed on gold and BTC, I don't know how to judge technical charts or understand the maths.
Therefore I can only go with my Gut instinct at this time and will tell you that my current answer is "Maybe - Buy Gold" This does not mean "buy gold with BTC", it means I think it's important to own Gold (and silver) but I think it's equally important to be a Bitcoiner.
This answer may be edited if you change your mind. Discussion of this poll could lead to some consensus among Bitcoiners on a BTC price for gold or at least a Buy/Sell order for Gold and that would be very exciting.
If you would like to leave a reason for your answer, argue for a particular answer, or discuss related topics such as silver, your replies will be most interesting.
Thanks for reading
Edit 25th of May,
It's clear at this stage "yes - don't buy gold is way out in front. currently about 40%
Edit 1
First Clarification (Thanks for you replies and PM's)
Will BTC maintains it's current purchasing price of Gold? (not paper gold, gld etc)
eg.
Coinabul as of the 22/5/2013 (5/22/2013 for Americans)
South African Gold Krugerrand - 1 Troy ounce
฿12.2362
If the Price of Gold where to suddenly shoot up to US$4000 per ounce, would the BTC price remain stable? In other words would the price of BTC suddenly rise to reflect the rise in the price of Gold? I you had a lot of BTC and you thought the answer was no, it would make sense to buy Gold now. If the price of Gold was suddenly $4000 per ounce, BTC would have to have a price of US$327 to buy the same one ounce Kruggerand from Coinabul. Keep in mind I think it's a dam good paper price... I'm just not sure if it's a good BTC price, so far BTC is kicking Gold ass, BTC might be $500 in which case you would only need 8 BTC one ounce of gold.
Keep in mind you can change your answer... so far I'm still in the Maybe camp
Viscera
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