Gold at $1247, BTC at $1861. Lowest Au:BTC Ratio I've Ever Seen (0.67)

darthmaul

sr. member

Activity: 714

Merit: 252

Quote from: OROBTC on May 18, 2017, 01:46:10 PM

...

At least for now, Bitcoin fans have won vs. Gold. Even with BTC's various serious (IMO) problems with scaling, etc.

I am glad I bought earlier, but Au:BTC ratio could come way down if they don't FIX the BTC issues likely scaring off new potential users.

ounce.me shows the ratio for easy reference. Own both BTC and gold!

Such good news for all of us. Im also thankful to myself that I did save some bitcoins recently. I did this due to hype that everybody was saying bitcoin will reach 2000 dollar soon. And Im so glad that already went off the chart for us. This happened all because of its popularity in the market as well as efforts of devs who are working around the clock to make it better bitcoin. Au:BTC ratio may not fall that easily but though it falls as we know from the past as well as from the present it goes up and up very quickly leaving us with loads of profits. Cheesy

OROBTC

legendary

Activity: 2940

Merit: 1865

Quote from: iluvpie60 on May 19, 2017, 09:00:38 AM

The problem with gold is that thete is no innovation to be had. Btc can keep getting better and become more worthwhile of using. Gold is mainly used in computers and electronics in small amounts. Other than everyone speculating on it, it serves no purpose.

Gold has a 6000 year history of being used as the best Store of Value. Read history.

When dictators quickly leave their countries as they are about to be overthrown, what do they steal? The gold.

What is the last legacy still being sought from the German Nazis? Oh yeah, the gold.

What do the world's Central Banks store? Ahh, that would be gold.

Gold is wealth. No counterparty risk.

iluvpie60

hero member

Activity: 700

Merit: 500

The problem with gold is that thete is no innovation to be had. Btc can keep getting better and become more worthwhile of using. Gold is mainly used in computers and electronics in small amounts. Other than everyone speculating on it, it serves no purpose.

Idrisu

sr. member

Activity: 924

Merit: 260

Quote from: OROBTC on May 18, 2017, 01:46:10 PM

...

At least for now, Bitcoin fans have won vs. Gold. Even with BTC's various serious (IMO) problems with scaling, etc.

I am glad I bought earlier, but Au:BTC ratio could come way down if they don't FIX the BTC issues likely scaring off new potential users.

ounce.me shows the ratio for easy reference. Own both BTC and gold!

Bitcoin will continue to be greater than gold and commodities because of it inherent values and it nature as a decentralized crypto currencies. What we just need to do is to keep buying bitcoin and hold it for long time and you will become one of the rich person on earth in 2024.

OROBTC

legendary

Activity: 2940

Merit: 1865

Quote from: Nagadota on May 18, 2017, 03:16:10 PM

Yeah, an ounce of Bitcoin is worth way more than an ounce of gold.

...Oh yeah, back to reality. There are many, many times more ounces of gold in existence than the amount of Bitcoin - one estimate being around 171,300 tonnes or about 6 billion ounces.

Furthermore, even a tenth of Bitcoin being sold on exchanges right now would completely destroy the price and market cap if it were to happen in reality. It's not the same as gold in that regard.

Bitcoin being higher than the gold price per ounce is a completely arbitrary way of measuring the two.

Well, yes it is arbitrary. But the ratio between the two changes, so that ratio is not that arbitrary. In that it shows changes in relative values between the two. Today's ratio is the lowest I have ever see.

With many investments, a ratio so out of normal range would suggest an action: in this case sell BTC / buy gold. Which I will not do for a couple of reasons. Still, the ratio and its changes are worth keeping an eye on for the relative values of the two assets.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

I've always fancied a gold coin just to lick and sniff. I think I'll wait until I can get one for 0.1 BTC. I've seen quite a few people on here turning many bitcoins into one ounce. That would piss me right off.

Quote from: Nagadota on May 18, 2017, 03:16:10 PM

Bitcoin being higher than the gold price per ounce is a completely arbitrary way of measuring the two.

Correct. But many people are fucking stupid and they find it a meaningful figure no matter what.

Nagadota

hero member

Activity: 574

Merit: 500

ClaimWithMe - the most paying faucet of all times!

Yeah, an ounce of Bitcoin is worth way more than an ounce of gold.

...Oh yeah, back to reality. There are many, many times more ounces of gold in existence than the amount of Bitcoin - one estimate being around 171,300 tonnes or about 6 billion ounces.

Furthermore, even a tenth of Bitcoin being sold on exchanges right now would completely destroy the price and market cap if it were to happen in reality. It's not the same as gold in that regard.

Bitcoin being higher than the gold price per ounce is a completely arbitrary way of measuring the two.

OROBTC

legendary

Activity: 2940

Merit: 1865

...

At least for now, Bitcoin fans have won vs. Gold. Even with BTC's various serious (IMO) problems with scaling, etc.

I am glad I bought earlier, but Au:BTC ratio could come way down if they don't FIX the BTC issues likely scaring off new potential users.

ounce.me shows the ratio for easy reference. Own both BTC and gold!

Topic: Gold at $1247, BTC at $1861. Lowest Au:BTC Ratio I've Ever Seen (0.67) (Read 405 times)