Could Bitcoin Crash Gold? - page 2. | Bitcointalksearch.org

harrymmmm

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Quote from: markj113 on August 13, 2015, 11:08:57 AM

Also if bitcoin is causing the price of gold to drop then surely this huge influx of new money would be causing the price of bitcoin to go parabolic instead of downwards.

Bitcoin price hasn't been 'going downwards' for quite a few months now. And it does indeed appear to be rising on a parabolic curve.

markj113

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Quote from: ?? on ??

it could easily, and bitcoin has already done this, go to the "Gold collapsing , Bitcoin up" thread in speculation board, also seeing how gold is falling hard this time will be even more brutal, the distance that bitcoin will take with the next mega pump, will be bigger

You obviously have no concept of market cap, Bitcoin is a small drop in the ocean of total gold market cap.

Also if bitcoin is causing the price of gold to drop then surely this huge influx of new money would be causing the price of bitcoin to go parabolic instead of downwards.

There is only one reason why the price of gold is going down at the moment and that is the paper games being played to suppress the price of gold to enable china to accumulate a few more tonnes at a lower price.

We will see a significant increase in gold price in the not too distant future!

This chart really highlights your point of how bitcoin is currently causing the price of gold to crash Roll Eyes

flock123

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I do not think so, the price of gold is also always increasing, while bitcoin prices always go up and down

markj113

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Quote from: Derrike on August 13, 2015, 09:01:59 AM

Quote from: Insertion on August 13, 2015, 07:51:11 AM

Quote from: lottery248 on August 12, 2015, 08:58:03 PM

yes, dud.
gold is unlimited all over the universe, divided up to a particle.
bitcoin could only be divided as low as 1 out of 100 million and very limited as 21 million.

I think your completely wrong because according to some study (Goldman Sachs) in another 20 to 30 years, the world may run out of minable gold. Mining output has been fairly flat for these years and also new discoveries of gold mines have been very less in these days. So do not compare gold with bitcoins. If you have power then you can start mining bitcoins but gold is something completely natural so once finish it is gone for forever.

Yes gold will be finished on earth, some day.

Scientists have found many precious metals on asteroids and are working on methods to extract those metals from asteroids or capture them and bring them to earth.

First quantum computers are already functional - in the future all encryption will become useless killing bitcoin.

I would put money on scenario B happening before scenario A

alva5763

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Gold has been trusted over centuries and is a well-known and accepted investment worldwide. Bitcoin is still unknown to many,even in US,Europe and Asia never mind a trust factor.

Derrike

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Quote from: Insertion on August 13, 2015, 07:51:11 AM

Quote from: lottery248 on August 12, 2015, 08:58:03 PM

yes, dud.
gold is unlimited all over the universe, divided up to a particle.
bitcoin could only be divided as low as 1 out of 100 million and very limited as 21 million.

I think your completely wrong because according to some study (Goldman Sachs) in another 20 to 30 years, the world may run out of minable gold. Mining output has been fairly flat for these years and also new discoveries of gold mines have been very less in these days. So do not compare gold with bitcoins. If you have power then you can start mining bitcoins but gold is something completely natural so once finish it is gone for forever.

Yes gold will be finished on earth, some day.

Scientists have found many precious metals on asteroids and are working on methods to extract those metals from asteroids or capture them and bring them to earth.

Insertion

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Quote from: lottery248 on August 12, 2015, 08:58:03 PM

yes, dud.
gold is unlimited all over the universe, divided up to a particle.
bitcoin could only be divided as low as 1 out of 100 million and very limited as 21 million.

I think your completely wrong because according to some study in another 20 to 30 years, the world may run out of minable gold. Mining output has been fairly flat for these years and also new discoveries of gold mines have been very less in these days. So do not compare gold with bitcoins. If you have power then you can start mining bitcoins but gold is something completely natural so once finish it is gone for forever.

umaOuma

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Quote from: Investacoin on August 11, 2015, 07:15:28 PM

Gold and Bitcoin are different asset classes. Gold is a historical, traditional way of storing a value. Blockchain technology is a future. What's in common is that, if we set aside certain manipulation attempts, they can't be controlled by governments.
Long term, both of them are going to survive, which we can't say for certain about fiat currencies.

All 3 of them are going to survive in future, but the important thing is which would be more valuable in future, As bitcoin can never replace fiat that is for sure, and comparing bitcoin and gold is something comparing between mom and dad, and that is not possible. So as investment products both have great future and give us some best returns on our investments.

lottery248

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beware of your keys.

yes, dud.
gold is unlimited all over the universe, divided up to a particle.
bitcoin could only be divided as low as 1 out of 100 million and very limited as 21 million.

harrymmmm

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Quote from: megashira1 on August 11, 2015, 07:03:20 PM

Bitcoins flaw is that it relies too heavily on technology. And you all are putting way too much faith into this technology. One catastrophic event can change everything. And there's repeated evidence of this throughout human history. Look at all the advanced civilizations which have been wiped clean from earths surface. Yes, but gold still remains.

Your examples were caused by too heavily relying on people.
Reliance on tech is a way safer option. Isn't that obvious?

Another advantage of tech is, if you find bugs, they can be fixed. Not like people or even govts.

gripflierGO

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Quote from: aakashsangwan on August 12, 2015, 03:10:38 AM

Quote from: gripflierGO on August 12, 2015, 02:55:48 AM

Quote from: allthingsluxury on August 11, 2015, 05:42:42 PM

Bitcoin is never going to replace gold. It is a good alternative, but it is not intrinsically the same. Both have their benefits.

That is right, bitcoin is a new to the world yet, and gold is ruling the world since its inception, Bitcoin can never replace gold, but the only advantage with bitcoin is that you can carry any amount of bitcoin in your digital wallet, even if you are travelling across the countries, whereas gold is something that can catch an eye of customs if you are holding in a bulk.

Now a days we can also store gold digitally.
Then also customs can not get to know that how much gold we have with us.

But getting Bitcoin cashed out is a big deal because not much merchants accept bitcoins and which does have also trading fees.

But I get my bitcoins cashed out very easily and I don't feel that traders do have that high trading fees, I feel it very easy and best way to convert my bitcoins into fiat currency, I send them trade request and they transfer money to my bank account within minutes, So if you are not finding merchants I would suggest you to visit localbitcoins website.

aakashsangwan

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Quote from: gripflierGO on August 12, 2015, 02:55:48 AM

Quote from: allthingsluxury on August 11, 2015, 05:42:42 PM

Bitcoin is never going to replace gold. It is a good alternative, but it is not intrinsically the same. Both have their benefits.

That is right, bitcoin is a new to the world yet, and gold is ruling the world since its inception, Bitcoin can never replace gold, but the only advantage with bitcoin is that you can carry any amount of bitcoin in your digital wallet, even if you are travelling across the countries, whereas gold is something that can catch an eye of customs if you are holding in a bulk.

Now a days we can also store gold digitally.
Then also customs can not get to know that how much gold we have with us.

But getting Bitcoin cashed out is a big deal because not much merchants accept bitcoins and which does have also trading fees.

gripflierGO

hero member

Activity: 533

Merit: 500

Quote from: allthingsluxury on August 11, 2015, 05:42:42 PM

Bitcoin is never going to replace gold. It is a good alternative, but it is not intrinsically the same. Both have their benefits.

That is right, bitcoin is a new to the world yet, and gold is ruling the world since its inception, Bitcoin can never replace gold, but the only advantage with bitcoin is that you can carry any amount of bitcoin in your digital wallet, even if you are travelling across the countries, whereas gold is something that can catch an eye of customs if you are holding in a bulk.

Investacoin

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Gold and Bitcoin are different asset classes. Gold is a historical, traditional way of storing a value. Blockchain technology is a future. What's in common is that, if we set aside certain manipulation attempts, they can't be controlled by governments.
Long term, both of them are going to survive, which we can't say for certain about fiat currencies.

megashira1

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Bitcoins flaw is that it relies too heavily on technology. And you all are putting way too much faith into this technology. One catastrophic event can change everything. And there's repeated evidence of this throughout human history. Look at all the advanced civilizations which have been wiped clean from earths surface. Yes, but gold still remains.

Gyfts

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Gold will never lose it's value. That's the beauty of it, comparing it to something like Bitcoin. The two coincide nicely actually from an investment standpoint. To answer your question though, Bitcoin won't crash gold. Will one "outshine" the other? Probably. Too early to tell now.

allthingsluxury

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Bitcoin is never going to replace gold. It is a good alternative, but it is not intrinsically the same. Both have their benefits.

gentlemand

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Welt Am Draht

Quote from: aakashsangwan on August 11, 2015, 12:14:04 PM

Yes, not more than one million people do know about Bitcoins or any other crypto currency.
But when we see the statistics of gold then everyone knows about it and even a child can also tell us that what is gold.

But how many people do you know who actually own any gold? Out of everyone in my life I only know of one.

aakashsangwan

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Quote from: Xenoph0bia on August 06, 2015, 09:23:30 AM

Quote from: bitcoinmar on August 04, 2015, 04:38:51 PM

Quote from: Patatas on August 04, 2015, 12:48:00 PM

I think it will in the near future, who knows?

I don't think this is going to be happen because Gold has his own worth and bitcoin can give some good competition in near future in trading

Yes, bitcoin can never crash gold, as it has been proved to be the best investment product since past, and it will be the best in the coming future too, and the reason is there are many people who are not aware about the bitcoins so they would not prefer to invest in it.

Yes, not more than one million people do know about Bitcoins or any other crypto currency.
But when we see the statistics of gold then everyone knows about it and even a child can also tell us that what is gold.

Xenoph0bia

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Quote from: bitcoinmar on August 04, 2015, 04:38:51 PM

Quote from: Patatas on August 04, 2015, 12:48:00 PM

I think it will in the near future, who knows?

I don't think this is going to be happen because Gold has his own worth and bitcoin can give some good competition in near future in trading

Yes, bitcoin can never crash gold, as it has been proved to be the best investment product since past, and it will be the best in the coming future too, and the reason is there are many people who are not aware about the bitcoins so they would not prefer to invest in it.

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