Yes, I might agree with you that gold being most precious metal has the properties like electricity conduction, heat resistance, etc but I am not really sure most of the devices really use gold for their wiring or any chip-sets, etc.
There are been a number of metals, alloys which are been introduced by mixing two or more metals to form a more cheaper but convenient of metal/alloy which can be replaced to used in electrical wiring or chip-sets. This minimizes the cost required to develop the chip or the wiring and also increases the life of the device.
Also, this era is converting into a digital and technical era which is including wireless devices which actually work without any wiring so I do not really think that the increasing use of blockchain technology might really affect the price of gold. It is something beyond comparison.
Topic: Gold and blockchain Technology - page 2. (Read 642 times)
that makes sense, it's just that I don't think like that. as I know, gold is a good conductor of gold, so it is only used for certain components because the price is quite high, so gold is not used in large quantities. however, when the price of bitcoin goes up, I don't feel that gold will also go up. however, nowadays people don't do so much mining, especially when mining costs are greater than other prices.
OP Gold is best metal for electrical wires. Thanks for telling this, as I was told since I was student of lower grade that copper is used to make electrical wires as silver is best conductor but can’t be used to make wires because it’s too expensive. Correct me if I am wrong.
You're correct that silver is the best conductor however it is very expensive unlike copper. And I think gold isn't the "best" but can also be good for electric wires. But due to its expensiveness, they don't offer use gold unless for special things that needs it. Computers also use gold but not in electric wires I think. It's more on computer chips. OP's logic is quite interesting though. But regardless if blockchain technology would rise or not, gold will still remain valuable. And can also increase through time even if not with blockchain.
Gold remains relevant and valuable in every decade. There are precious minerals that are more expensive than Gold, but gold price remain non depreciating on second hand stock.
Now talking about it usage in electrical conductivity, some would argue that there are many wireless devices, therefore the value of gold will reduce, but this is not through because gold is a store of value.
Now talking about it usage in electrical conductivity, some would argue that there are many wireless devices, therefore the value of gold will reduce, but this is not through because gold is a store of value.
Interesting opinion, but it seems to me that this aspect won't be a problem:
any system is somehow a self regulating one, so - after little time - anything will achieve a natural balance.
any system is somehow a self regulating one, so - after little time - anything will achieve a natural balance.
OP Gold is best metal for electrical wires. Thanks for telling this, as I was told since I was student of lower grade that copper is used to make electrical wires as silver is best conductor but can’t be used to make wires because it’s too expensive. Correct me if I am wrong.
In electronics, relatively little gold is used than in the same jewelry industry. In addition, every year the share of wired devices decreases. Gold is undoubtedly a reliable asset for saving money. But I do not think that in the future its price will rise mainly because of the demand in the electronics market.
How if combine between gold and blockchain adoption in one unity I think give most benefit between gold and blockchain, but many people look for safety assets investing although with little profit earning every year like gold only could increase 7% higher price each year, whit bitcoin can raise more than 100% when bitcoin halving coming and have higher price.
Gold is a very valuable mine. But people need new excitement. The price of gold is very still. Now bitcoin is more attractive. How to integrate gold with Blockchain. They can only register gold with blockchain.
From a simple research how much gold in laptops and smartphones, the google shows that its a very tiny amount and its in old computers, the results vary from those old white huge computers having about 9 dollars worth of gold per computer (which is the highest that can be found but they are very old, 90's style so not many left that is intact) and in the newer versions there is usually so so little that per ton of smartphones there is 10 ounces of gold and five ounces in 200 laptops, so its a lot lot less nowadays for sure because technology has found a way to use something other than gold to improve the current system.
Long story short its still used, its still relevant and gold prices do affect the miners in a minuscule level but its too small to really care.
Long story short its still used, its still relevant and gold prices do affect the miners in a minuscule level but its too small to really care.
The demand of gold will affect but the price? I am not sure because in many years the price of gold is still stable. even we buy more electric devices it won't affect because it uses copper and silver, if this will have gold with cheaper price then why we mine btc if we can have gold in our electric devices? All that is certain is that the demand of gold will be more higher because of btc investor that want to hold their funds through gold because it is stable.
Indeed there are some computer and mobile components that contain gold but not all of it, gold is used as a conductor and to coat to prevent corrosion. The existence of gold content in electronic devices is what makes the recycling business rampant. Export demand for computer and handphone waste is very high to India and China.
This recycling process is also the reason for the increased use of computer equipment will not affect the increase in gold prices because there is a recycling process. The more electronic products are used, the more waste is produced.
I don't think that the demand from these companies for these precious metals are really that high especially when you think about them having cost-cutting on their products for instance iPhones or Samsung Galaxies will tend to prefer more copper and aluminum build on their hardware and just a little bit of the rarer metals such as gold and platinum, here is an article on the metal composition of a regular Iphone product. Another thing why tech companies won't affect the prices of precious metals that much is they are keen on recycling their own products and recovering their resources to be use again, one good example for this is why Phone companies such as Apple, Samsung, HTC always have a trade-in deal for the consumers so that they can recycle their old phones and salvage these components. They won't simply just buy new supply of these resources if they could get it a lot cheaper or for free when they just get it from us.
gold only can give the witness for you but blockchain technology and cryptocurrency can give security for your businesses or your money and at the same time value of Bitcoin will help you to earn some money in in many field available in the cryptocurrency industry. Always I suggest everyone to to invest little bit and trading and it is themselves for next month trading.
There has been a constant criticism of Bitcoin mining. Electricity costs in everyone's language. I think we should look at it from another angle. How much does gold cost? Workers are also working several meters of gold. How many workers are involved in an accident. When we consider these, bitcoin is going through a much safer production process.
Gold is used in many of the worlds electronics, not at the level you think of, gold is a very expensive material and all those wires and thinks are not gold but even on a simple home computer there is enough gold that its worth mining out the old computers to make some money.
https://www.youtube.com/watch?v=zU62hh3DBfg . If you watch this video you will see that micro processors do have gold in them, and the regular computer parts as well and even some small tiny wires as well. So, there are gold in the computers we use, electronics do require a bit of gold but not as much as you might imagine, we are talking about grams and even less than grams here.
I am sure there could be newer computers with absolutely no gold in them probably (no idea if they do or not) but the old ones definitely had it in them, that is why recycling is not really something common because if it had too much gold in them everyone would recycle but it has very very tiny amounts.
https://www.youtube.com/watch?v=zU62hh3DBfg . If you watch this video you will see that micro processors do have gold in them, and the regular computer parts as well and even some small tiny wires as well. So, there are gold in the computers we use, electronics do require a bit of gold but not as much as you might imagine, we are talking about grams and even less than grams here.
I am sure there could be newer computers with absolutely no gold in them probably (no idea if they do or not) but the old ones definitely had it in them, that is why recycling is not really something common because if it had too much gold in them everyone would recycle but it has very very tiny amounts.
I don't know how much gold go into each component but I don't think gold will necessarily spike due to blockchains starting to become more common. What I think can happen though is that it'll be easier to to use gold to back currency.
We already heard of China's planned gold-backed cryptocurrency, which other countries can possibly emulate. That meant more gold being stockpiled as reserve, which would make acquiring them even harder. Especially since many mines has already ran out.
We already heard of China's planned gold-backed cryptocurrency, which other countries can possibly emulate. That meant more gold being stockpiled as reserve, which would make acquiring them even harder. Especially since many mines has already ran out.
If the blockchain Technology rises more miners more it Technology and servers and computers.
Then the Gold Price will Go up as demand too
Coz Every electronic device need gold Gold is best metal for Electrical wires and small things.
Gold / electricity/ blockchain are similar asset or resource group
That's my Conclusion:)
Then the Gold Price will Go up as demand too
Coz Every electronic device need gold Gold is best metal for Electrical wires and small things.
Gold / electricity/ blockchain are similar asset or resource group
That's my Conclusion:)
The demand of gold will affect but the price? I am not sure because in many years the price of gold is still stable. even we buy more electric devices it won't affect because it uses copper and silver, if this will have gold with cheaper price then why we mine btc if we can have gold in our electric devices? All that is certain is that the demand of gold will be more higher because of btc investor that want to hold their funds through gold because it is stable.
If the blockchain Technology rises more miners more it Technology and servers and computers.
"Blockchain technology" doesn't mean more mining. Cryptocurrencies use proof of work, but not all, and many new coins use other consensus algorithms, and second-biggest coin in terms of PoW - Ethereum - is going to switch to PoS. And then you have non-crypto uses of blockchain, which is what people actually mean when they say "blockchain technology" - these permissioned, private databases - they don't need PoW, it would be a waste of resources to use it there.
You just have to know that wires are not the only thing that Gold is being used for.. and... I’m never aware that gold is being used for wires, anyway... There are a lot more to it than just making wires, and though there are lots of wireless techs these days, meaning there is a lesser demand in that area, it still doesn’t mean that gold is becoming useless.
There are main areas where gold is needed and those areas are where the demand for it would keep increasing from. Gold is not dying and that’s the same thing with Blockchain and Cryptocurrency, they are not going to die, I believe they are all here to stay and as time goes on we will keep on improving with all of them.
There are main areas where gold is needed and those areas are where the demand for it would keep increasing from. Gold is not dying and that’s the same thing with Blockchain and Cryptocurrency, they are not going to die, I believe they are all here to stay and as time goes on we will keep on improving with all of them.
In your point, we should know that today there are so many wireless products and it's less and less wires to use. So, it means that the metal you are talking will have less demand in the future.
If the metal is gold, then the demands of gold will be decreasing, and you can't compare it with Bitcoin anymore.
Nowadays, we are having so much many developing technology like gadgets, cellphones, computers and many more that also helps us in our daily lives. We should consider some factors that might affect how the price goes up and goes down like the supply and demand. We should be aware of the happenings in our society because it affects one another like gold is the materials somehow in our technologies.So if the price of gold goes up, also the technologies with gold goes the same too. If the metal is gold, then the demands of gold will be decreasing, and you can't compare it with Bitcoin anymore.
If the blockchain Technology rises more miners more it Technology and servers and computers.
Then the Gold Price will Go up as demand too
Coz Every electronic device need gold Gold is best metal for Electrical wires and small things.
Gold / electricity/ blockchain are similar asset or resource group
That's my Conclusion:)
We might slightly consider your thought however we are in the age where electronic devices are in demand. Blockchain tech could impact the Gold industry very little, take note that some electronic manufacturers already using alternative to Gold in there production so we really can't assure that the price of Gold may boom in the next few decades. Then the Gold Price will Go up as demand too
Coz Every electronic device need gold Gold is best metal for Electrical wires and small things.
Gold / electricity/ blockchain are similar asset or resource group
That's my Conclusion:)
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