Gold and blockchain Technology - page 4.

Bet1Coin

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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.

Interesting point, but in my opinion it is more a question of demand than supply.
Both resources are scarce, but demand on bitcoin is way more likely to explode than it is for gold.
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.

DoublerHunter

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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.

Ucy

sr. member

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Compare rates on different exchanges & swap.

Guess you're suggesting that Gold is as useful as cryptocurrency.
Well, seems it is mostly used for making complex things/technologies... And it's quite scarce. You wouldn't want to waste something that is that scarce & valuable.
I guess it can be considered a very good store of value, and could be useful as currency. Though it could only be very useful in a world with no choas and scarcity of basic things.
There are probably other more useful purposes of gold we don't know much about. That could add to its value/price due mainly to scarcity and its other valuable features .

oktana

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Eloncoin.org - Mars, here we come!

the greatest influence of gold is related to currency reserves and gold trading in a purer form.

Electronic device components and electrical cables only involve a small percentage because they are still mixed with other metal materials, especially silver, iron, and fiberglass. Not only for blockchain technology because the gold component is also used by many other large industrial technologies, I think this is not a strong reason for speculation regarding macro demand.

dark08

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Quote from: rijaljun on January 03, 2020, 10:21:32 AM

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.

I agree to your opinion dude now a day theres a lot of devices that no need wire I dont think if this will have an effect to Gold price but we all know that Gold is one of the popular metal all over the world compare to block chain that not yet know of every people/country but the good thing its been increase the demand for the past several years.

heidikim

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Gold is already a scarce mine. And valuable all over the world. How Blockchain appreciated. Blockchain got us into bitcoin. He became famous for bitcoin. Now, if gold and blockchain build an economy together, I think a very solid order can be established.

rijaljun

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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.

Polo7

jr. member

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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:)

Topic: Gold and blockchain Technology - page 4. (Read 661 times)