The gold-cannot-be-tangible-enough-for-real-world-application argument again.
Complete bogus.
Gold foil can be encased in polycarbonate for as low a demonetization as you like. For all practical purposes as well as bitcoin.
Topic: Buy and hold? I don't think so! (Read 3326 times)
the difference between gold and bitcoin is that the global market and support system for gold is and has been in place for many many years, and its huge.
bitcoin is still fragile. if it doesn't continue to develop a strong business transaction base, and value transfer function, it will either fail, take considerably longer to increase in value, or stagnate.
businesses will be more likely to accept bitcoin when they see more bitcoin being spent. the more businesses accept bitcoin the easier it will be to spend bitcoin, which will increase the demand for bitcoin which will increase the price of bitcoin.
its a virtuous circle.
right now bitcoin is a niche at best and far from assured survival let alone considerable increase in value. it doesn't take a know it all to see that spending bitcoin is required to get it a stronger network, it just takes a little bit of understanding of human nature, a little business sense and a cursory understanding of economics.
bitcoin is still fragile. if it doesn't continue to develop a strong business transaction base, and value transfer function, it will either fail, take considerably longer to increase in value, or stagnate.
businesses will be more likely to accept bitcoin when they see more bitcoin being spent. the more businesses accept bitcoin the easier it will be to spend bitcoin, which will increase the demand for bitcoin which will increase the price of bitcoin.
its a virtuous circle.
right now bitcoin is a niche at best and far from assured survival let alone considerable increase in value. it doesn't take a know it all to see that spending bitcoin is required to get it a stronger network, it just takes a little bit of understanding of human nature, a little business sense and a cursory understanding of economics.
i know you know pm's are not similarly divisible in that how do u slice up a gold bar to pay for a candy bar?
I thought I expressed myself fairly accurately by using the adjective "similarly" instead of "equally". And if you think buying say a loaf of bread with gold is impossible because it's not divisible enough then I suggest you watch this: http://www.youtube.com/watch?v=7ubJp6rmUYM
His point is it is hard to accurately divide, and you haven't countered that point.
Really? This what I'm talking about. Why would I need to even counter something so obviously wrong? Ever heard of this weird invention?:
Right... and with the
.
heh
heh
That's why I said they a SIMILARLY divisible. You cannot say gold can't be divided down to say 0.1g, it's indisputable that it can. The theoretical limit of divisibility of gold is down to a single atom. It isn't as practicable as with Bitcoin and it's way more limited than it is with Bitcoin. But it is possible and that's all I was trying to say with the adjective similarly. If I was trying to claim there is no difference I would have used the adjective EQUALLY.
And to answer that other question, you're damn right if I had no other choice to buy some food and all I had was 50g gold bars I would have shaved one off a bit.
But my main point in mentioning the divisibility was that art and diamonds in comparison aren't at all. Meaning art and diamonds you either own them or you have to sell them while gold and bitcoins you can save the majority but only sell a small portion if you need to which spreads them around which is something the OP was arguing isn't happening because people are hoarding.
Now can we stop this on the level of the intelligence of a 9 year old discussion, pretty please?
And to answer that other question, you're damn right if I had no other choice to buy some food and all I had was 50g gold bars I would have shaved one off a bit.
But my main point in mentioning the divisibility was that art and diamonds in comparison aren't at all. Meaning art and diamonds you either own them or you have to sell them while gold and bitcoins you can save the majority but only sell a small portion if you need to which spreads them around which is something the OP was arguing isn't happening because people are hoarding.
Now can we stop this on the level of the intelligence of a 9 year old discussion, pretty please?
Why so hostile. His point is it is hard to accurately divide, and you haven't countered that point. Yes, it is theoretically divisible to a single atom, but practically it is a pain in the ass to divide.
heh
i know you know pm's are not similarly divisible in that how do u slice up a gold bar to pay for a candy bar?
I thought I expressed myself fairly accurately by using the adjective "similarly" instead of "equally". And if you think buying say a loaf of bread with gold is impossible because it's not divisible enough then I suggest you watch this: http://www.youtube.com/watch?v=7ubJp6rmUYM
the problem with this analogy is that those small grains in the video were panned out of a stream. as i said, here in the Western world which is the frame of reference from which i am coming from, 1 oz coins tend to be the most common form of gold that most of us hoard. even if it wasn't, you and i would have a hard time shaving off just the right portion to buy a loaf of bread. with Bitcoin and its ability to divide down to the Satoshi level, i submit it is so much more practical and divisible.
Are you seriously going to argue about this?
If he won't, I will. Bitcoin has a massive advantage over gold in this area.
Actually, I think the problem with gold is the counterfeiting. 1/4 grain is no problem.
unless you want 1/8 grain
Are you seriously going to argue about this?
If he won't, I will. Bitcoin has a massive advantage over gold in this area.
Actually, I think the problem with gold is the counterfeiting. 1/4 grain is no problem.
Are you seriously going to argue about this?
If he won't, I will. Bitcoin has a massive advantage over gold in this area.
Are you seriously going to argue about this?
i know you know pm's are not similarly divisible in that how do u slice up a gold bar to pay for a candy bar?
I thought I expressed myself fairly accurately by using the adjective "similarly" instead of "equally". And if you think buying say a loaf of bread with gold is impossible because it's not divisible enough then I suggest you watch this: http://www.youtube.com/watch?v=7ubJp6rmUYM
i'm willing to bet your gold comes in no smaller denominations than a 1oz coin. if it came down to it how comfortable would you be to shave off a small bit for a loaf of bread? totally impractical. Bitcoin is way more precise.
i know you know pm's are not similarly divisible in that how do u slice up a gold bar to pay for a candy bar?
I thought I expressed myself fairly accurately by using the adjective "similarly" instead of "equally". And if you think buying say a loaf of bread with gold is impossible because it's not divisible enough then I suggest you watch this: http://www.youtube.com/watch?v=7ubJp6rmUYM
i know you know pm's are not similarly divisible in that how do u slice up a gold bar to pay for a candy bar?
Sturdy tin snips.
i know you know pm's are not similarly divisible in that how do u slice up a gold bar to pay for a candy bar?
Exactly but unlike say diamonds or rare valuable art, bitcoins are highly divisible, so as their value and scarcity rises people can sell only a small fraction which is why I made the analogy to PMs as they are similarly divisible.
i have to agree with hazek.
look at rare art. it tends to hang on walls in ppl's homes for years on end and has a high value. this is a form of hoarding which Bitcoin will be subject to.
when the owner dies or the value gets so high only then will it be sold off at an auction. the key to the value in this case is its fixed supply and rarity. i strongly believe Bitcoin will be seen in this same light. Bitcoin has the added advantage in that it can also be used as a currency to buy goods and services in small micro tx's. the infrastructure has been built; its just a matter of time.
look at rare art. it tends to hang on walls in ppl's homes for years on end and has a high value. this is a form of hoarding which Bitcoin will be subject to.
when the owner dies or the value gets so high only then will it be sold off at an auction. the key to the value in this case is its fixed supply and rarity. i strongly believe Bitcoin will be seen in this same light. Bitcoin has the added advantage in that it can also be used as a currency to buy goods and services in small micro tx's. the infrastructure has been built; its just a matter of time.
Man when will they learn.. OP is another example of a central planner wannabe know it all.
Sure, you can lobby for people to spend their money now rather than save. But you can't show a single shred of evidence that bitcoins aren't going to get spread around without people spending them now. That is merely you making baseless statements.
Actually I'm going to go a step further. It is precisely because people tend to want to save Bitcoins that they will get spread around more than we can even imagine. Just look at gold. It's super limited in supply, people tend to save it, and yet people own it all around the planet (even I own 2.6oz).
Good thing this experiment is by design a free market and so it doesn't matter what any one person thinks should or shouldn't be done. I can't wait for about 15-20 years down the road where all these prophecies and central plans will get demolished by the cold hard reality and evidence.
OP is another example of a central planner wannabe know it all.Sure, you can lobby for people to spend their money now rather than save. But you can't show a single shred of evidence that bitcoins aren't going to get spread around without people spending them now. That is merely you making baseless statements.
Actually I'm going to go a step further. It is precisely because people tend to want to save Bitcoins that they will get spread around more than we can even imagine. Just look at gold. It's super limited in supply, people tend to save it, and yet people own it all around the planet (even I own 2.6oz).
Good thing this experiment is by design a free market and so it doesn't matter what any one person thinks should or shouldn't be done. I can't wait for about 15-20 years down the road where all these prophecies and central plans will get demolished by the cold hard reality and evidence.
bah!
I'm right, you're wrong. Face the cold hard reality!
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