Topic: Could Bitcoin Crash Gold? - page 3. (Read 5913 times)

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

There are nearly 6 billion ounces of gold as opposed to 15 or so million bitcoins. That's around 400 ounces per coin. The price would have to be in the several hundred thousand range to match gold's market cap.

If Bitcoin is compared to Gold, then maybe Bitcoin could crash Gold if it becomes very valuable. Lets say $1500 or more. Just my opinion. Please correct me if I'm wrong 

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

I SHOULD SAY nO.
gold is a luxury and very having prestise and high value,
the price is very expensive. and everyone love it..

And that's a huuuge difference between Gold and BTC that should keep it popular as a store of value well into the future.

• There's also no psychological significance to carrying around BTC in whatever tangible form (paper wallet) that says to the average person "this is valuable and will save my ass in desperate times."

• Let's say a natural disaster hits a part of the country. Gold is recoverable even amid the rubble, BTC on hard drives / paper wallets much less so, which would only further reinforce psychologically the value of gold in times of disaster.

• Also, in times of mass hysteria / panic in the streets, can you really be certain that the BTC network will be up? I will say that Jim Ryckards new book did mention that you shouldn't be holding "paper gold" as that too will likely be worthless when-the-sh*t-hits-the-fan.

i say No.
gold is legendary jewerly from oldest...
and have like a prefential position in everyone heart.
this is like symbol of luxury and rich when we can to see live...

I do not think that Bitcoin can crash gold.

Bitcoin is like any other type of money. It has no value in its own, only that many people agree in giving it value.

Gold, however, is agreed to have a value, but in addition, its useful. It is scarce, ductile, used as a conductor, and beautiful to be worked and made into jewels.

Bitcoin cannot trump gold in the same way it cannot trump iron, copper or other useful material. But in fact, gold has even more uses.

no. bitcoin is bitcoin and gold is gold.
can to replace one each other. they have a favorite in their place. bitcoin have a favorite and gold have a favorite.
they have a fans like that. and gold can we use to jewelry

I think Gold is not the opponent of BTC since i think gold is like oil. the price goes up and down.
I think that the main opponent of BTC is the fiat money

You do not need a computer to do that.. if you have a smart phone, you have Bitcoin. If your community have access to one computer, all of them have access to Bitcoin. How do you think things like Mpesa thrive in Africa?
If you use paper wallets, you would not need any electronic devices for a long time.

A computer crash should not be the end of the world for Bitcoin users. If it is, you are not using cold storage and paper wallets.

If we are realistic, only a small percentage of people in the world understand or trust Bitcoin now, after what happened with MtGox and Silkroad.

Agree. No one can imagine that someone have with himself at home for sure one functional computer (or something that substitute it in fewer measures) to store there its valued things. If computer crashes everything goes in trash. It is credible such thing as much as the gold which can be stored in secured vaults in banks?

The older generation would definitely invest in Gold as they are not aware of bitcoins. And there are many people who have hardly used computers in their lives, So getting into a digital currency would be much more difficult for them.

Yes Bitcoin can never crash gold  not in the coming years for sure, The market acceptance of Gold is more then Bitcoins, and market cap is also huge of Gold. Comparatively Bitcoin has a least market cap and many doesn't find it trustworthy. Gold is traditional and people have more faith in Gold as compared to Bitcoins and they hesitate in investing in crypto currency.

No, I don't think so.

I think no because gold have physically and bitcoin not have. I see bitcoin is most currency in the future, will see where bitcoin will go as a most currency or bitcoin die

Not only the economy is dependent on bank but the technological development also. A world without banks cant evolve the way we have until now. Dont know how long we can live in a bitcoin world of faucets, dice and porn.

Bitcoin will never take the place of gold.

I think, it would be hard to happen.
First, the earth have a lot of Gold and also so many many Gold that undiscovered yet.
Second, Gold is looks better then Bitcoin (which is a digital not physical thing).
It just my opinion

No.
People needs to physically hold their valuable things. I don't think someone will hold a flash drive and hey look it contains millions of dollars it's more valuable than your 1kg gold etc.

I disagree:


Uses of Gold in Electronics

The most important industrial use of gold is in the manufacture of electronics. Solid state electronic devices use very low voltages and currents which are easily interrupted by corrosion or tarnish at the contact points. Gold is the highly efficient conductor that can carry these tiny currents and remain free of corrosion. Electronic components made with gold are highly reliable. Gold is used in connectors, switch and relay contacts, soldered joints, connecting wires and connection strips.

A small amount of gold is used in almost every sophisticated electronic device. This includes: cell phones, calculators, personal digital assistants, global positioning system units and other small electronic devices. Most large electronic appliances such as television sets also contain gold.

One challenge with the use of gold in very small quantities in very small devices is loss of the metal from society. Nearly one billion cell phones are produced each year and most of them contain about fifty cents worth of gold. Their average lifetime is under two years and very few are currently recycled. Although the amount of gold is small in each device, their enormous numbers translate into a lot of unrecycled gold.


Use of Gold in Computers

Gold is used in many places in the standard desktop or laptop computer. The rapid and accurate transmission of digital information through the computer and from one component to another requires an efficient and reliable conductor. Gold meets these requirements better than any other metal. The importance of high quality and reliable performance justifies the high cost.

Edge connectors used to mount microprocessor and memory chips onto the motherboard and the plug-and-socket connectors used to attach cables all contain gold. The gold in these components is generally electroplated onto other metals and alloyed with small amounts of nickel or cobalt to increase durability.


Use of Gold in Dentistry

How would iron work as a dental filling? Not very well... your dentist would need blacksmithing tools, your smile would be rusty a few days after a filling and you would need to get used to the taste of iron. Even at much higher expense, gold is used in dentistry because of its superior performance and aesthetic appeal. Gold alloys are used for fillings, crowns, bridges and orthodontic appliances. Gold is used in dentistry because it is chemically inert, nonallergenic and easy for the dentist to work.

Gold is known to have been used in dentistry as early as 700 B.C. Etruscan "dentists" used gold wire to fasten replacement teeth into the mouths of their patients. Gold was probably used to fill cavities in ancient times, however there is no documentation or archaeological evidence for this use of gold until a little over 1000 years ago.

Gold was much more generously used in dentistry up until the late 1970's. The sharp run-up of gold prices at that time motivated the development of substitute materials. However, the amount of gold used in dentistry is starting to rise again. Some motivation for this comes from concerns that less inert metals might have an adverse effect on long-term health.


Medical Uses of Gold

Gold is used as a drug to treat a small number of medical conditions. Injections of weak solutions of sodium aurothiomalate or aurothioglucose are sometimes used to treat rheumatoid arthritis. Particles of a radioactive gold isotope are implanted in tissues to serve as a radiation source in the treatment of certain cancers.

Small amounts of gold are used to remedy a condition known as Lagophthalmos, which is an inability of a person to close their eyes completely. This condition is treated by implanting small amounts of gold in the upper eyelid. The implanted gold "weights" the eyelid and the force of gravity helps the eyelid close fully.

Radioactive gold is used in diagnosis. It is injected in a colloidal solution that can be tracked as a beta emitter as it passes through the body. Many surgical instruments, electronic equipment and life-support devices are made using small amounts of gold. Gold is nonreactive in the instruments and is highly reliable in the electronic equipment and life-support devices.


Uses of Gold in Aerospace

If you are going to spend billions of dollars on a vehicle that when launched will travel on a voyage where the possibility of lubrication, maintenance and repair is absolutely zero, then building it with extremely dependable materials is essential. This is exactly why gold is used in hundreds of ways in every space vehicle that NASA launches.

Gold is used in circuitry because it is a dependable conductor and connector. In addition, many parts of every space vehicle are fitted with gold-coated polyester film. This film reflects infrared radiation and helps stabilize the temperature of the spacecraft. Without this coating, dark colored parts of the spacecraft would absorb significant amounts of heat

Gold is also used as a lubricant between mechanical parts. In the vacuum of space, organic lubricants would volatilize and they would be broken down by the intense radiation beyond Earth's atmosphere. Gold has a very low shear strength and thin films of gold between critical moving parts serves as a lubricant - the gold molecules slip past one another under the forces of friction and that provides a lubricant action.


Uses of Gold Awards & Status Symbols

What metal is used to make the crown worn by a king? Gold! This metal is selected for use because gold it is THE metal of highest esteem. It would make no sense to make a king's crown out of steel - even though steel is the strongest metal. Gold is chosen for use in a king's crown because it is the metal associated with highest esteem and status.

Gold is associated with many positive qualities. Purity is another quality associated with gold. For this reason, gold is the metal of choice for religious objects. Crosses, communion ware and other religious symbols are almost always made with gold for this reason.

Gold is also used as the first place winner's medal or trophy in almost any type of contest. First place winners at the Olympic Games are given gold medals. The Academy Awards Oscars are gold awards. Music's Grammy Awards are made of gold. All of these important achievements are honored with awards made of gold.


Uses of Gold in Glassmaking

Gold has many uses in the production of glass. The most basic use in glassmaking is that of a pigment. A small amount of gold suspended in the glass when it is annealed produces a rich ruby color.

Gold is also used when making specialty glass for climate controlled buildings and cases. A small amount of gold dispersed within the glass or coated onto the glass surface will reflect solar radiation outward, helping the buildings stay cool in the summer, and reflect internal heat inward, helping them stay warm in winter.

The visor on the helmet of an astronaut's space suit is coated with a very thin film of gold. This thin film reflects much of the very intense solar radiation of space, protecting the astronaut's eyes and skin.


Gold Gilding and Gold Leaf

Gold has the highest malleability of any metal. This enables gold to be beaten into sheets that are only a few millionths of an inch thick. These thin sheets, known as "gold leaf" can be applied over the irregular surfaces of picture frames, molding or furniture.

Gold leaf is also used on the external and internal surfaces of buildings. This provides a durable and corrosion-resistant covering. One of the most eye-catching uses of gold leaf is on the domes of religious buildings and other important structures. The cost of this "roofing material" is very high per square foot; however, the cost of the gold is only a few percent of the total project cost. Most of the cost goes to the labor of highly skilled artisans who apply the gold leaf.


Future Uses of Gold

Gold is too expensive to use by chance. Instead it is used deliberately and only when less expensive substitutes can not be identified. As a result, once a use is found for gold it is rarely abandoned for another metal. This means that the number of uses for gold have been increasing over time.

Most of the ways that gold is used today have been developed only during the last two or three decades. This trend will likely continue. As our society requires more sophisticated and reliable materials our uses for gold will increase. This combination of growing demand, few substitutes and limited supply will cause the value and importance of gold to increase steadily over time. It is truly a metal of the future.


TL;DR

Gold is used in many different fields, in addition to the fact it's hard to get (mining etc.) there are many industrial uses.
Thus my stance remains, BTC may > GOLD in the future, but it wont crash it