Currently there are many coins that have a higher price than gold. however, it happened because of abundant demand, and limited stock. In addition, there are some coins that are even backed up by the gold itself. personally, i believe that sooner or later, there will be very many coins that have a much higher price, even with 1 coin you can get gold a few grams, or even kilograms
Gold and crypto can be said to be the two most promising types of assets at this time and now many cryptos are using the price of gold as a reference for the price in the market, just like usdt which uses usd as a benchmark, I think besides bitcoin there are some coins that are now even higher the price of gold today, but what is clear now is that crypto is starting to threaten gold because it has more attractiveness in terms of investing, cryptocurrencies, especially bitcoin, have been widely accepted in practical terms and adopted by various world entities.
Topic: Coins that are more expensive than gold (Read 350 times)
Currently there are many coins that have a higher price than gold. however, it happened because of abundant demand, and limited stock. In addition, there are some coins that are even backed up by the gold itself. personally, i believe that sooner or later, there will be very many coins that have a much higher price, even with 1 coin you can get gold a few grams, or even kilograms
I have to say the greatest thing about crypto right now is the fact that we do not have to worry about some artificially increased price product that we know that doesn't worth anything. Bitcoin may look like that, after all there is absolutely no reason why it shouldn't be 1 dollars, but nobody did it, nobody caused it to go to 60k+ , it was all of us together and not some company.
We "may" use gold for some stuff, but the price of gold is not estimated based on that, it is based on the fact that people actually invest into it and that is the main reason. Diamond is something else for example, DeBeers made it "valuable" but in reality it costs fractions of what they sell it for.
Crypto is nothing like that, it doesn't have a real value aside from what we all get together and say, there is no government behind it, there is no person or company behind it, we all decide it together. So when you see bitcoin being worth more than gold, you know that it is something we all decided, and not banks getting together and inflating it.
We "may" use gold for some stuff, but the price of gold is not estimated based on that, it is based on the fact that people actually invest into it and that is the main reason. Diamond is something else for example, DeBeers made it "valuable" but in reality it costs fractions of what they sell it for.
Crypto is nothing like that, it doesn't have a real value aside from what we all get together and say, there is no government behind it, there is no person or company behind it, we all decide it together. So when you see bitcoin being worth more than gold, you know that it is something we all decided, and not banks getting together and inflating it.
The value of gold is determined by grade and weight, of course it is difficult if we compare the value of gold with other types of investment, especially cryptocurrencies, even though bitcoin one day is worth millions of dollars but it cannot be compared to the value of 1 kg of gold because the two are difficult to compare.
Right now estimated gold marketcap right now is 11.65 Trillion dollars, estimated ALL of crypto is 3 trillion dollars (and not even). This shows you that Gold is nearly 4x more than all of crypto world combined together.
If you really want to compare prices and then go ahead and do that but that is literally mocking yourself and showing you have zero clue how finance world works.
The reality is that if you really want to compare something then you should be comparing what we have in marketcap, and gold vs crypto is not even a question, it is clear. One has 11.65 while the other as a group has 3, that is not a fight that we can win right now.
If you really want to compare prices and then go ahead and do that but that is literally mocking yourself and showing you have zero clue how finance world works.
The reality is that if you really want to compare something then you should be comparing what we have in marketcap, and gold vs crypto is not even a question, it is clear. One has 11.65 while the other as a group has 3, that is not a fight that we can win right now.
Honestly, I can understand that Bitcoin and Ethereum are more expensive than gold, but for the rest of the currencies, I don't know why they are more expensive than gold!!! It may be due to scarcity but it is not enough, what is the point of scarcity if there is no real use or need.
Bitcoin is similar to gold in terms of scarcity, value and difficulty extracting it, and this is what makes the price rise as the scarcity and difficulty of obtaining the thing increases. On the other hand, Bitcoin is superior to gold in terms of ease of use, ease of transportation, ease of storage, and protection costs. All of these things make Bitcoin superior to gold, but We can't say the same about other currencies.
Bitcoin is similar to gold in terms of scarcity, value and difficulty extracting it, and this is what makes the price rise as the scarcity and difficulty of obtaining the thing increases. On the other hand, Bitcoin is superior to gold in terms of ease of use, ease of transportation, ease of storage, and protection costs. All of these things make Bitcoin superior to gold, but We can't say the same about other currencies.
Those coins who are been much expensive than golds are just been hype or been much supported by many people for now but honestly its not good to compare gold to crypto since if we honestly look closely those existing coins are nothing when in terms of economical usage. Although its quite expensive to store this but you can make sure that your asset is totally safe from anyone who want to steal it compare with bitcoin where anytime the wallet we used can be hacked by talented hackers and we will lose everything we have in single instance if we do a mistake upon handling our wallet.
Honestly, I can understand that Bitcoin and Ethereum are more expensive than gold, but for the rest of the currencies, I don't know why they are more expensive than gold!!! It may be due to scarcity but it is not enough, what is the point of scarcity if there is no real use or need.
Bitcoin is similar to gold in terms of scarcity, value and difficulty extracting it, and this is what makes the price rise as the scarcity and difficulty of obtaining the thing increases. On the other hand, Bitcoin is superior to gold in terms of ease of use, ease of transportation, ease of storage, and protection costs. All of these things make Bitcoin superior to gold, but We can't say the same about other currencies.
Bitcoin is similar to gold in terms of scarcity, value and difficulty extracting it, and this is what makes the price rise as the scarcity and difficulty of obtaining the thing increases. On the other hand, Bitcoin is superior to gold in terms of ease of use, ease of transportation, ease of storage, and protection costs. All of these things make Bitcoin superior to gold, but We can't say the same about other currencies.
.\meaning Gold is being used as Investment material and what you are seeing being accessories is just a small faction of the totality of Gold worldwide.
You can never compare gold with cryptocurrency, because the units are different. The price of gold coin can vary, depending on the weight. I can go for a 0.001 oz gold coin, and then claim that now Cardano is more expensive than gold. On the opposite side, I can go for a 1kg gold bar, and claim that gold is more expensive than Ethereum. These sort of comparisons make little sense. The only parameter that can be directly compared is the market cap. Right now, the market cap of BTC is measured at $1.262 trillion, while that of gold stands at $11.621 trillion.
Definitely you have not been reading what we have been posting, just scroll up a little and see my comment, or to make the work easy for you, you can read the comment in below quote. I know it is the marketcap that should be used, not the price. But according to the topic title led to my reply.Yes bitcoin is more superior than any coin today, but the superiority is not in the price, it is in the market capitalization, gold is worth over 10 trillion today, even if bitcoin is at $200000 price which its marketcap should be around around $3 trillion, it is still not superior like bitcoin with marketcap of over $10 trillion.
What weight of gold?
Gold Bullion Bar 1 Kg
Weight: Buy Price:
32.15 oz $ 58800
If the buy price of 1kg of gold is almost $60000, only bitcoin is more expensive than gold among the coins in your image.
Gold Bullion Bar 1 Kg
Weight: Buy Price:
32.15 oz $ 58800
If the buy price of 1kg of gold is almost $60000, only bitcoin is more expensive than gold among the coins in your image.
^^^ This.
You can never compare gold with cryptocurrency, because the units are different. The price of gold coin can vary, depending on the weight. I can go for a 0.001 oz gold coin, and then claim that now Cardano is more expensive than gold. On the opposite side, I can go for a 1kg gold bar, and claim that gold is more expensive than Ethereum. These sort of comparisons make little sense. The only parameter that can be directly compared is the market cap. Right now, the market cap of BTC is measured at $1.262 trillion, while that of gold stands at $11.621 trillion.
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According to today's market below is the value of Bitcoin and Gold while writing the post.
Gold is into usage for thousands of years. This makes it more trusted. Bitcoin is highly volatile compared to the gold. Now the market has matured alot than past, which has caused the market fluctuate within specific range. Most of the gold investors have an understanding Bitcoin could drop 20% in no time out of the volatility, but gold won't. This has made them prefer gold for long term investment and bitcoin/cryptocurrencies for short term.
Gold is into usage for thousands of years. This makes it more trusted. Bitcoin is highly volatile compared to the gold. Now the market has matured alot than past, which has caused the market fluctuate within specific range. Most of the gold investors have an understanding Bitcoin could drop 20% in no time out of the volatility, but gold won't. This has made them prefer gold for long term investment and bitcoin/cryptocurrencies for short term.
What weight of gold?
Gold Bullion Bar 1 Kg
Weight: Buy Price:
32.15 oz $ 58800
If the buy price of 1kg of gold is almost $60000, only bitcoin is more expensive than gold among the coins in your image.
By the chart given by Op only Bitcoin expensive than gold but if we can compare with total market cap between gold vs Bitcoin than we can easily understand that gold is expensive than Bitcoin. Gold Bullion Bar 1 Kg
Weight: Buy Price:
32.15 oz $ 58800
If the buy price of 1kg of gold is almost $60000, only bitcoin is more expensive than gold among the coins in your image.
People who still think that "price" means anything are people who end up losing a lot of money in crypto. Price means nothing and market cap means everything. Unfortunately too many people already talked about this and yet there are still people who keep asking the same question anyway, no idea why. At the end of the day, I have to say the clear choice for investing is not to compare the price, but the market cap.
However there is nothing that has the market cap of gold, in fact all of crypto together doesn't have that. This is why do not compare stuff in crypto with gold, that is not correct and it will not help you at all. So, we should only focus on comparing it with what we have, which is crypto vs crypto, that gives better idea on which one goes better.
However there is nothing that has the market cap of gold, in fact all of crypto together doesn't have that. This is why do not compare stuff in crypto with gold, that is not correct and it will not help you at all. So, we should only focus on comparing it with what we have, which is crypto vs crypto, that gives better idea on which one goes better.
People focus too much on price rather than actual value. Bitcoin is barely worth $1 trillion, and Gold is worth much more than that, even if a lot of it isn't circulating much. Apart from Bitcoin topping out when the price of BTC was the same as one onze of gold in 2013, or Ethereum ATH in 2017 also reaching it and initially getting rejected, I don't see the relevance of the other low circulating / total supply coins referenced.
What might be more interesting is seeing other coins worth less than 1 onze of gold and how it might affect them when reaching this price; BCH, BNB, COMP or KSM for example.
What might be more interesting is seeing other coins worth less than 1 onze of gold and how it might affect them when reaching this price; BCH, BNB, COMP or KSM for example.
What weight of gold?
it makes sense, if the OP calculates the price of 1 gram of gold, of course it can be defeated by the coin, but try to calculate the price of weight and kilograms of gold, for today alone gold is valued at 1 kilogram at a price of $64,500, meaning gold is still superior to the coins the OP mentioned, including Bitcoin.
What weight of gold?
it makes sense, if the OP calculates the price of 1 gram of gold, of course it can be defeated by the coin, but try to calculate the price of weight and kilograms of gold, for today alone gold is valued at 1 kilogram at a price of $64,500, meaning gold is still superior to the coins the OP mentioned, including Bitcoin.OP, Bitcoin today is at $61,900 while 1 kilogram gold is priced at $64,500 today, obviously here gold wins, so in what way do you count coins and gold is more expensive, milligrams, centigrams, decigrams, grams, hectograms or kilograms, Tell us, to calculate who is more expensive.
What is the real intention of comparing the prices? Does it really make sense?
Since if you compare the usage well those coins you mentioned minus the bitcoin you cannot use it everywhere in offline places and gold has a major use economically so comparing it on standards for sure those coins will be nothing to gold.
Since if you compare the usage well those coins you mentioned minus the bitcoin you cannot use it everywhere in offline places and gold has a major use economically so comparing it on standards for sure those coins will be nothing to gold.
I don't know the motive of the OP here. But I do agree, we can't compare gold to most of these coins.
Gold has established physical uses and a lot of industries are relying from it.
Just take for example, the electronics industry. Gold is considered a vital part in most of their gadgets or equipment.
Even if some coins are expensive than gold, but gold has significant usage that no coins can provide.
Gold play a good role in the economy so its not comparable to any types of crypto and its just a crazy though for anyone that some crypto coin who's more expensive in price surpass it since in reality the use case really matter the most of it. And even bitcoin didn't defeat it yet since there's many things we need to look to and bitcoin need to prove more since adoption of it is not yet spreading like wild fire around the world.
@OP, did you go insane when you tried to compare Gold to these coins? I mean, Gold has its own place and it is touchable, a worthy asset due to its scarcity and though it's not performing well, it can only be compared to things like Palladium, Platinum, Silver, Copper, etc. because they all fit under the same category Gold comes from, i.e.; Metal. And even if we talk about the marketcaps, Gold is ten times that of Bitcoins and even if BTC takes over, both of them can't be compared due to the fact that BTC is a volatile asset that can only be held digitally but the same is not the scene with Gold aa it can be possessed and worn, liquified, hardened, shaped, etc. In short, comparison of these two asset classes is not possible.
What is the real intention of comparing the prices? Does it really make sense?
Since if you compare the usage well those coins you mentioned minus the bitcoin you cannot use it everywhere in offline places and gold has a major use economically so comparing it on standards for sure those coins will be nothing to gold.
Since if you compare the usage well those coins you mentioned minus the bitcoin you cannot use it everywhere in offline places and gold has a major use economically so comparing it on standards for sure those coins will be nothing to gold.
I don't know the motive of the OP here. But I do agree, we can't compare gold to most of these coins.
Gold has established physical uses and a lot of industries are relying from it.
Just take for example, the electronics industry. Gold is considered a vital part in most of their gadgets or equipment.
Even if some coins are expensive than gold, but gold has significant usage that no coins can provide.
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