Gold and blockchain Technology - page 3.

NathanJB

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Quote from: Magkirap on January 04, 2020, 08:55:21 AM

Quote from: NathanJB on January 04, 2020, 04:59:58 AM

Quote from: Polo7 on January 03, 2020, 09:00:59 AM

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:)

Wait a minute, we have a lot of technologies here in our home and I cannot see a single one that has gold electrical wires and other stuff. The only stuff that has real gold here are jewelries and that's all. Your conclusion appears to be based on something wrong.

No he is just right dude, some computer or its components have golds and other materials but of course you can't see it by just looking outside, it is inside of them just like computer wires and circuit boards, it contains gold but i kinda disagree with gold having a high demand for we don't need that much and the world are using not just gold but also other materials so gold will still be the same and not be affected by blockchain technologies in a way that gold will have higher price for its high demand.

Just like the gold in sim cards? That's too insignificant. Well, it is still gold but that's not really much. And if the companies manufacturing all these things will see that gold's price is rising and that would make their products more expensive, they might switch to other materials not so expensive but equally efficient. I still can't see the connection.

avatar_kiyoshi

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Quote from: Bet1Coin on January 03, 2020, 12:54:20 PM

Quote from: DoublerHunter on January 03, 2020, 12:32:31 PM

Quote from: Polo7 on January 03, 2020, 09:00:59 AM

~snip~
Gold / electricity/ blockchain are similar asset or resource group

^ No, you have a wrong conclusion here. If you mean gold metal assets is the same with crypto digital asset because they had both have miners, you are definitely wrong. Cryptocurrency like Bitcoin has a fixed amount while the gold can increase and it has an unlimited amount depending on what miners got. Technically speaking, the demand and supply of gold did not affect the price while cryptocurrency was a matter of demand and supply because the more demand and less supply it will cause of pump the price. Nevertheless, they are not on the same side.

Question is will people keep buying bitcoins at any price while it is easier to replace bitcoin with similar blockchain technology than replace gold with another metal.

Bitcoin has it's own market, even is wider in crypto environment, bitcoin is the forerunner of cryptocurrency, it will be difficult to find better than bitcoin in this case "the demand".

Also Bitcoin and gold is different market, there are some metals that can be used as an alternative to gold, for example silver.

Magkirap

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Quote from: NathanJB on January 04, 2020, 04:59:58 AM

Quote from: Polo7 on January 03, 2020, 09:00:59 AM

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:)

Wait a minute, we have a lot of technologies here in our home and I cannot see a single one that has gold electrical wires and other stuff. The only stuff that has real gold here are jewelries and that's all. Your conclusion appears to be based on something wrong.

No he is just right dude, some computer or its components have golds and other materials but of course you can't see it by just looking outside, it is inside of them just like computer wires and circuit boards, it contains gold but i kinda disagree with gold having a high demand for we don't need that much and the world are using not just gold but also other materials so gold will still be the same and not be affected by blockchain technologies in a way that gold will have higher price for its high demand.

@prashant

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I think silver is the best conductor, as far as gold goes along with Blockchain , it is good thing if gold can be traded as virtual with decentalised technology. Majority of mining companies will not use gold to make conductive material as it will become very costly and i don't see it will increase adoption.

Dart18

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Not anymore.

Gold had been in demand ever since even without the cause of being the best conductor.
Biblically there are reasons also and people want it just as their savings instead of keeping money in the bank.
Family heirloom too. It can be passed to their heirs and can somehow make them happy. Grin

Rings, bracelets, earrings and a lot more are being created for the purpose of looking good in the public.

This is also why electronic devices now are getting cheaper. It doesn't need gold anymore.

SquallLeonhart

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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.

Harriti

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Quote from: Polo7 on January 03, 2020, 09:00:59 AM

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:)

In GPU devices, it only needs very little gold there to maintain its durability. In fact, more miners don't affect gold too much. If it had an impact, the price of gold would have increased sharply like BTC since 2016. Now modern technology, we only need copper wires to conduct electricity well. We don't need too many resources to conduct electricity bro. Grin

NathanJB

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Quote from: Polo7 on January 03, 2020, 09:00:59 AM

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:)

Wait a minute, we have a lot of technologies here in our home and I cannot see a single one that has gold electrical wires and other stuff. The only stuff that has real gold here are jewelries and that's all. Your conclusion appears to be based on something wrong.

kapalmabur

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Quote from: TastyChillySauce00 on January 03, 2020, 05:44:54 PM

Never I know blockchain could affect that much except pumping the GPU sales. Even if blockchain dominate the whole world through implementation for efficiency it'll not do any influence to the price of gold. I mean gold are dominated by those people who want to save their wealth value and industrial just need small portion of the whole market. In the future, the gold price will still be affected by people who hold it not blockchain.

this technology is only to help humans have different gold, gold is created by nature, and if gold can no longer be mined, then this asset will really be destroyed, only the rich have this gold, but the blockchain gives us the choice to can accept it as an asset, which is bitcoin and altcoin

Janation

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Quote from: Polo7 on January 03, 2020, 09:00:59 AM

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.

It is true that gold is used but I don't think it will be for electrical wires.

Gold is a good conductor but just imagine using a phone and all of its wires are made up of Gold, that would be so expensive. So they used cheaper metal, which is copper. Gold is mostly found on the circuit board of an electronic device. Another thing is that I think Gold's demand is really high right now since we are already using electronic devices every single day, I think what you are saying is that it would increase more.

crossabdd

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Well, many electronic components use gold. including the bitcoin mining machine. but what is the function of gold in electronic devices to improve algorithm solving in crypto mining? I don't yet understand that gold in electronics can improve crypto mining. hopefully when the halving has been carried out and will be made more powerful mining machines.

awik p

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Quote from: gunungkembar on January 03, 2020, 05:42:00 PM

Quote from: ReiMomo on January 03, 2020, 01:28:33 PM

Quote from: FLoving on January 03, 2020, 12:59:37 PM

Quote from: Polo7 on January 03, 2020, 09:00:59 AM

~snip~

You are not wrong that these electronic devices will need gold and the demand of gold will increase but the amount of gold with each miner will be in traces while they will have huge piles of bitcoin and cryptocurrencies so this condition will not increase the price the same as bitcoin and altcoins.

In electronic devices not only pure gold was there, but only a little amount of gold they are using especially in the circuit board. I think the more have usage are platinum, tin and the bronze. If there is a large demand for gold, it will not make sense that the price will go up because of the usage. Unlike Bitcoin, every fluctuation has and being volatile will make bitcoin goes up.

yes gold should be better used for a more profitable exchange value, if used for port boards in electricity it usually uses brass and there is no gold element because if there is an element of gold then the price will be expensive and of course gold will run out because it is widely used for electricity .

indeed there is gold used for electrical ports, but the amount is not much, and the average use of brass for the coating, will be very expensive if the electronic components use gold as a coating. and I think this will increase the need for gold

btccashacc

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Quote from: ReiMomo on January 03, 2020, 01:28:33 PM

In electronic devices not only pure gold was there, but only a little amount of gold they are using especially in the circuit board. I think the more have usage are platinum, tin and the bronze. If there is a large demand for gold, it will not make sense that the price will go up because of the usage. Unlike Bitcoin, every fluctuation has and being volatile will make bitcoin goes up.

Exactly, It wouldn't affect the gold price directly since they only use a little amount of gold. It might be a GPU, we all know that when the bitcoin launched and became popular the demand for GPU has been increased as well as the price. I have a couple of friends who are not crypto enthusiasts blaming crypto for making GPU so expensive, well I've never heard that blockchain development could affect the gold's price especially in manufacturing.

TastyChillySauce00

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Never I know blockchain could affect that much except pumping the GPU sales. Even if blockchain dominate the whole world through implementation for efficiency it'll not do any influence to the price of gold. I mean gold are dominated by those people who want to save their wealth value and industrial just need small portion of the whole market. In the future, the gold price will still be affected by people who hold it not blockchain.

gunungkembar

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Quote from: ReiMomo on January 03, 2020, 01:28:33 PM

Quote from: FLoving on January 03, 2020, 12:59:37 PM

Quote from: Polo7 on January 03, 2020, 09:00:59 AM

~snip~

You are not wrong that these electronic devices will need gold and the demand of gold will increase but the amount of gold with each miner will be in traces while they will have huge piles of bitcoin and cryptocurrencies so this condition will not increase the price the same as bitcoin and altcoins.

In electronic devices not only pure gold was there, but only a little amount of gold they are using especially in the circuit board. I think the more have usage are platinum, tin and the bronze. If there is a large demand for gold, it will not make sense that the price will go up because of the usage. Unlike Bitcoin, every fluctuation has and being volatile will make bitcoin goes up.

yes gold should be better used for a more profitable exchange value, if used for port boards in electricity it usually uses brass and there is no gold element because if there is an element of gold then the price will be expensive and of course gold will run out because it is widely used for electricity .

1Referee

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Quote from: ReiMomo on January 03, 2020, 01:28:33 PM

If there is a large demand for gold, it will not make sense that the price will go up because of the usage.

It's kinda funny how Gold bugs praise the industrial utility of the metal, yet are clueless when it comes to acknowledging the fact that its value is largely dependent on speculation. The higher the price of Gold is, which is driven up by speculation through derivatives, the lesser the industrial demand is for the metal.

Silver and some other metals have seen a massive spike up in industrial use throuhout the last decade, while Gold's industrial use keeps sinking. In a world where cheaper products matter, and we have so much choice between cheap products, it only makes sense to not use Gold because there is no way you can compete with the rest.

In terms of jewelry Gold isn't losing any popularity. The more expensive the metal becomes, the more people want it because it allows them to use their jewelry as symbol of status/wealth. Who doesn't want to own plenty of something so shiny and expensive? Added benefit is that it also represents money and value, which throughout the years will only further increase.

The Sceptical Chymist

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Nah. There may be tons of electronics out there, but each one only uses a very small amount of gold as far as I know, and a lot of it gets recycled anyway. It's not like they have to dig gold out of the ground in order to make those electronics.

And to relate that hypothetical situation to bitcoin? That's one hell of a leap in logic, and I'm not buying it. Gold and bitcoin are not correlated and bitcoin won't ever be dependent on the gold situation, whatever that is.

Quote from: FLoving on January 03, 2020, 12:59:37 PM

You are not wrong that these electronic devices will need gold and the demand of gold will increase

Then gold recycling will increase. The result will be that there won't be an increase in gold mining or even an increase in the price of gold. I've been hearing similar arguments for years now, especially regarding the use of silver in medicine. I don't think people understand how little of these metals get used and how much gets recovered.

ReiMomo

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Quote from: FLoving on January 03, 2020, 12:59:37 PM

Quote from: Polo7 on January 03, 2020, 09:00:59 AM

~snip~

You are not wrong that these electronic devices will need gold and the demand of gold will increase but the amount of gold with each miner will be in traces while they will have huge piles of bitcoin and cryptocurrencies so this condition will not increase the price the same as bitcoin and altcoins.

In electronic devices not only pure gold was there, but only a little amount of gold they are using especially in the circuit board. I think the more have usage are platinum, tin and the bronze. If there is a large demand for gold, it will not make sense that the price will go up because of the usage. Unlike Bitcoin, every fluctuation has and being volatile will make bitcoin goes up.

FLoving

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Quote from: Polo7 on January 03, 2020, 09:00:59 AM

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:)

You are not wrong that these electronic devices will need gold and the demand of gold will increase but the amount of gold with each miner will be in traces while they will have huge piles of bitcoin and cryptocurrencies so this condition will not increase the price the same as bitcoin and altcoins.

enhu

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There are synthetic gold already that they can use, it doesn't need to be mine. I think the manufacturer of the devices like motherboards which you sees to need gold uses these synthetic already. Not sure though but everything today can be created in a lab including diamonds which is almost same as real.

If we are to compare BTC and Gold, I guess convenience will win. You just can't bring large amount of gold anywhere but with BTC you can cross boarders with more than $10k in your phone wallet.

Topic: Gold and blockchain Technology - page 3. (Read 661 times)