Gold and blockchain Technology | Bitcointalksearch.org

Webetcoins

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Quote from: LUCKMCFLY on January 15, 2020, 12:53:47 PM

It is time to get the idea that gold will be integrated in some way to Blockchain technology, I like the idea, of course it is my particular way of thinking, in this article it is said that you can buy Gold through BitPay:BitPay Integration Lets Users Buy Gold With Cryptocurrency, currently after Conflict that occurred between the US and Iran has increased interest in acquiring both.

I think it is positive, the movement of money towards assets such as gold that are safe and towards Bitcoin, which in the view of many economists is not completely safe due to volatility, but that many people in the world are adopting as a refuge of value ignoring the advice of those economists.

For me, bitcoin is more volatile than the gold. I also disagree with the economists point of view of supporting gold and considering it better than the bitcoin. By carrying on this idea I think the people who are taking refugee in this digital technology ignoring the idea of economist are more on safe side. In the near future the value that bitcoin will gain will never be achieved by the gold.

STT

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That is the main drawback, somewhere the gold must exist physically which means the system will be based on a centralised trust type system subject to confiscation and other types of loss. The accounting could be done via blockchain to be more transparent perhaps but the actual security will still be reliance on conventional business and legal systems.
I have some involvement with crypto use for gold purchasing and it just ended up being hijacked by red tape from central government unfortunately. Gold is not that well suited to very small transactions in this way, it requires major backing to operate indirectly and then you are reliant on that backer.

vintages

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Quote from: LUCKMCFLY on January 15, 2020, 12:53:47 PM

It is time to get the idea that gold will be integrated in some way to Blockchain technology, I like the idea, of course it is my particular way of thinking, in this article it is said that you can buy Gold through BitPay:BitPay Integration Lets Users Buy Gold With Cryptocurrency, currently after Conflict that occurred between the US and Iran has increased interest in acquiring both.

I think it is positive, the movement of money towards assets such as gold that are safe and towards Bitcoin, which in the view of many economists is not completely safe due to volatility, but that many people in the world are adopting as a refuge of value ignoring the advice of those economists.

In as much as we have and love to include Bitcoin or Blockchain in almost everything we do as modern technology. I still think most people will prefer to own Gold in it solid form. Though portability might another issue but offline Gold can't be replaced for an online one.

FLoving

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Quote from: CarnagexD on January 15, 2020, 12:27:16 PM

Quote from: iv4n on January 15, 2020, 11:04:49 AM

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

Coz Every electronic device need gold Gold is best metal for Electrical wires and small things.

The most highly conductive metals are silver, copper, and gold. Of course that gold is too expensive, but is it so better than silver? In the end is it matter which metal is the best conductor? It's just piece of metal that have some purpose, for which can be used some other metal as well. On other side blockchain technology is an idea, amazing invention that allows digital information to be distributed but not copied!
People are comparing bitcoin and gold since ever, but truth is that this two can't be compared.

This pretty much points that bitcoin and gold will have minimal effects between each other. In the first place bitcoin itself has a different investment environment from gold, and just because gold is used for construction of technological products it doesn't necessarily mean that it will pump along with an increase on bitcoin's price.

If everyone will have money and everyone will be able to buy instruments for mining then it will have a little bit affect on the price of gold as well but it will not be that much that it will give a profit to the investors. If everyone will know about bitcoin then they will not invest in gold and it is also expected that in that time many investors of gold shift to bitcoin with which I have a doubt that the price of gold may reduce.

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It is time to get the idea that gold will be integrated in some way to Blockchain technology, I like the idea, of course it is my particular way of thinking, in this article it is said that you can buy Gold through BitPay:BitPay Integration Lets Users Buy Gold With Cryptocurrency, currently after Conflict that occurred between the US and Iran has increased interest in acquiring both.

I think it is positive, the movement of money towards assets such as gold that are safe and towards Bitcoin, which in the view of many economists is not completely safe due to volatility, but that many people in the world are adopting as a refuge of value ignoring the advice of those economists.

Visbay

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Quote from: Amel on January 14, 2020, 07:28:45 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.

The use of gold in electronic devices in my opinion is very minimal, although later the demand for electronic devices is higher but it is still inferior to the demand for jewelry and jewelry has a much higher gold content than electronic devices. So my conclusion with the many crypto miners is not very helpful in increasing gold, maybe only very little.

Crypto and hold both of them are not the same then how can blockchain take part in progress or increase in the price of Gold. We know Gold is jewelry but how many people are interested in wearing it. People only want a good income and better life that’s only possible with blockchain technology and crypto so Gold can never get the same value as a blockchain because it’s all about crypto now.

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Quote from: iv4n on January 15, 2020, 11:04:49 AM

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

Coz Every electronic device need gold Gold is best metal for Electrical wires and small things.

The most highly conductive metals are silver, copper, and gold. Of course that gold is too expensive, but is it so better than silver? In the end is it matter which metal is the best conductor? It's just piece of metal that have some purpose, for which can be used some other metal as well. On other side blockchain technology is an idea, amazing invention that allows digital information to be distributed but not copied!
People are comparing bitcoin and gold since ever, but truth is that this two can't be compared.

This pretty much points that bitcoin and gold will have minimal effects between each other. In the first place bitcoin itself has a different investment environment from gold, and just because gold is used for construction of technological products it doesn't necessarily mean that it will pump along with an increase on bitcoin's price.

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

Coz Every electronic device need gold Gold is best metal for Electrical wires and small things.

The most highly conductive metals are silver, copper, and gold. Of course that gold is too expensive, but is it so better than silver? In the end is it matter which metal is the best conductor? It's just piece of metal that have some purpose, for which can be used some other metal as well. On other side blockchain technology is an idea, amazing invention that allows digital information to be distributed but not copied!
People are comparing bitcoin and gold since ever, but truth is that this two can't be compared.

davinchi

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There has been many tries to combine gold and blockchain together, like have some sort of stable currency just like USDT but for gold instead of dollar but because it is hard to move gold digitally compared to dollars, it never really worked out. If we could somehow manage to peg crypto into gold with a stablecurrency that represents gold instead of fiat, we could actually have something very solid which would affect the price of bitcoin a lot.

People don't want to move their money into fiat because they know even if bitcoin is about to drop and they have to move out, they would prefer to move out to something more valuable like gold instead of fiat which loses its value due to inflation every single year. These are two very different but both loved things, combining them both would be awesome.

Shasha80

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In my opinion gold and bitcoin with blockchain technology is similar but not the same. Indeed, both gold and bitcoin are assets
which is very good to save. Because the price will both go up in the future, but the difference is that gold the price increase is slow.
And bitcoin increase is very significant. From this comparison alone I conclude more people prefer investing in bitcoin compared to gold.
Even investing in bitcoin is very risky.

STT

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Gold is used in more electronic devices then ever but in far smaller finer precise amounts then was true in the 1980's Technology has brought us a long way and finer circuits are the norm now, its far less profitable to recycle a new motherboard over the really ancient technology.

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If the metal is gold, then the demands of gold will be decreasing,

Gold as a metal is in a bull market for over a decade. The reasons are monetary, central banks are net buyers for a long time because we have such loose monetary policy world wide to an extent we are more reliant on debt and the promise to repay then any other time for hundreds of years. Its very likely we peak in this promises meta and politics control of economies and return to commodities and basic supply and demand, part of that will be gold but we hope also technology such as Bitcoin is greatly useful for security.

carter34

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Quote from: heidikim on January 03, 2020, 10:23:38 AM

Now, if gold and blockchain build an economy together, I think a very solid order can be established.

These are isolated in nature and might not be compared in that way. The thing about this is that you blockchain is more of an abstract that has produced an important outcome which happens to be bitcoin. This has really made bitcoin to be relevant lately and much people are looking inwards to investing in crypto than in gold.

salad daging

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Gold is widely used for core hardware, but using other components as a coating, if the majority of parts use gold, then the demand will be very little because the price is very expensive, sellers also think to reduce the budget as effectively as possible to be able to adjust prices. gold and blockchain will not have a large dependency if only associated with part of the device, the gold fundamentals are much greater than that.

Amel

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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.

The use of gold in electronic devices in my opinion is very minimal, although later the demand for electronic devices is higher but it is still inferior to the demand for jewelry and jewelry has a much higher gold content than electronic devices. So my conclusion with the many crypto miners is not very helpful in increasing gold, maybe only very little.

blckhawk

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I don't think it's that much, and there are also other factors to consider in Gold's price. Demand is there, but it might also depend on its reputation of being an accessory, and if people would not consider it that lustrous, then it's sole purpose might only be on electronics, which would also decrease its value.

Although it might be true, and to know that Gold has always been a standard of luxury due to its scarcity and real-life applications, and your argument might be true to some extent.

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Quote from: HarmonyA on January 12, 2020, 06:28:14 PM

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.

Gold is mostly used in jewelry and for building precious ornaments like rings, necklaces, etc so it is not really used for any kind of wiring. Yes, even in this year gold is been used in some of the technical gadgets but the prices of those gadgets too is much higher and it does not benefit the firm manufacturing such devices and hence they have shifted onto other metals possessing the properties of gold but at a cheaper rate.

Gold is also malleable which allows us to mold it without actually destroying its components also we all know the properties of gold which makes it one of the most precious metal on the earth. The precious nature of gold does not make it highly usable in the wiring or the electrical devices.

barabarian1

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Quote from: oktana on January 03, 2020, 11:27:41 AM

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.

I agree with you that the use of gold in electronic equipment is only 0.2 grams of very little gold. so I don't think the use of blcockhain technology will make the gold price go up. the value of gold is greatly influenced by the exchange rate of US dollars, the amount of world gold production and gold reserves in banks.

TheCoinGrabber

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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.

Depends on how much gold is being used in these mining components. Does anyone have an estimate? But from the looks of it, the amount of gold is minimal. I saw a chart showing electronics as the largest user of gold but its' only slightly more than jewelry and coinage, which together makes up 60%.

Still, the demand for industrial use is slow to rise, much of gold's movement is still due to speculation.

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Quote from: Janation on January 04, 2020, 01:15:45 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.

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.

If you're listening to your science teacher, you're not going to state this. There are a lot more kinds of metals that is also a good conductor of electricity, but not gold. Gold is primarily preserved as a source of money or as an asset but not as an conducting material. If you're a wise you should know that gold can buy you more metal conductor and you should also know that copper, steel, and aluminum are much cheaper to use. You can sell your Gold for a money to be used to buy those materials. Gold is more important and don't just waste it for something that can be solved with any other solution.

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Quote from: BigBos on January 13, 2020, 08:37:35 AM

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.

Gold is a precious metal. Although it is indeed used in so many technologies, the amount is only very little. This is not enough for the price of gold to rise exponentially. Other than that, the prices of gold and Bitcoin are not directly correlated.

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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.

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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.

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Quote from: msarro on January 07, 2020, 09:23:26 AM

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.

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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.

Brunus

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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.

msarro

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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.

EdvinZ

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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.

cutesgirl

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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.

carlzec

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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.

RealMalatesta

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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.

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Quote from: Aying on January 05, 2020, 01:01:24 AM

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.

Theb

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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.

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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.

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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.

fullhdpixel

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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.

merchantofzeny

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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.

Aying

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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:)

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.

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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.

"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.

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Quote from: SquallLeonhart on January 04, 2020, 07:15:10 AM

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.

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.

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.

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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:)

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.

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.

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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.

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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.

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

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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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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

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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 (Read 661 times)