Topic: Gold collapsing. Bitcoin UP. - page 1481. (Read 2032274 times)

Right now the battle is to control the majority of all available gold supply. As long as there is still physical present that can be extracted from current holders, and no other catastrophic catalysts occur, the game continues. Basically, anyone who can be persuaded or forced to sell his physical holdings is a target and will be squeezed until there is barely any but direct mine supply available from mining operations that can't be nationalized.

That's when revaluation is guaranteed. It's a possibility at any point from now until then - the probability just increases until that limit is reached.

The concern that tvbcof expressed about excessive concentration is real and valid. If there is too great a centralized holding of gold, whatever authority has it will wield an undue amount of influencing power. Yet again, that's where Bitcoin comes in

Markets sometimes follow rumors more than reality... Should your cost of doing business really be exposed to a 10% rise if someone plants a few false seeds in the media?  Sure, it's no worse than the current situation, I'm just saying Bitcoin would be superior and thus eventually it will win out as long as the internet and globalized trading continue.

have you ever heard of pirates?

So kick up the value of gold to match the worldwide economy/developement level...  Its just a means to keep score, if that much weight of gold is required to settle up for smaller transactions obviously the value of gold is too low..  Oh wait we have.. gold is 1600 an ounce now, not 30..

See the bolded parts.

Using gold as a reference/reserve and marking to market daily as the Euro does, trends can be spotted quickly. It isn't necessary to transfer gold back and forth constantly, only at thresholds - e.g. BoP settlement is initiated at 5% of GDP. That could take months or even years. With daily feedback, the sample size should be great enough for financial firms to take rapid corrective action by slowing investments in less effective ventures while increasing others.

In concert with Bitcoin, balance of payments transactions could actually be conducted daily. This way, there would be an imbalance in the ratio of Bitcoin to gold present between two separate entities (banks, corporations, nations, etc). Failure of a cryptocurrency is necessarily greater than that of gold (at present), so there would be a somewhat greater risk to holding Bitcoins over gold. This incentive would spur the primary Bitcoin holder to acquire more gold.

ok??  and how does that mean that if your a default risk you shouldn't be required to settle on the spot??

Go lend Dank some BTC if you think everyone should be given credit..

What do you think paper is?  It's a promise to settle later.

The cost of moving gold isn't very high, international wires aren't free either..  I can't imagine that at all, if you can't settle up on the spot, then you probably shouldn't be making the purchase..  

This is where Bitcoin comes in. Rather than being restrained in the physical space but unrestricted in the financial arena (leading to fractionalization), with Bitcoin there are limits in both the physical and finance. Fractionalization can then only occur outside of Bitcoin, allowing for a steady ratio between gold and Bitcoin, unfettered by fiat issues.

Ya.  In my dream fantasy-land, a multitude of crypto-currencies are constantly growing, shrinking, being born, dying, and most importantly, evolving.

The peeps choose freely what they want to uses.  Cornering and abuse of a particular crypto-currency would hasten it's demise into the dustbin of history, and the a-holes who ruined it would be out whatever it cost them to get in in the first place.

Merged mining could tie the crypto-currencies together tightly enough so that they all realized certain benefits complements of the group, but not so tightly than any one really effected any other in a tangible way.

This is the picture I was trying to paint with the 'bakcoin' idea.

So then the peeps have made their beds  and the goose has been cooked, some peeps are on top, some are in the in the middle, some are at the bottom..

Nothing to see here move along .  The people can't learn from history

How much gold do you need? How many gold dealers are there around the world? Don't they generally have several dozen to a few hundred ounces available most of the time, even in poorer countries?

Do you walk around with wads of cash in your pocket, just in case you need to buy a condo on a whim? Why would you have to do the same with gold?

If I want to transfer my gold assets from Calgary to Quito, I can contact my gold dealer and have him get in touch with a Quito dealer. If he has a contact there already, great - there's a trusted network already set up. If not, he can inform the Quito dealer how much I purchased and then digitally exchange the balance using a contemporary currency.

When I go to Quito, I can either pick up my metal from the dealer there or keep it there in storage for a fee if that service is offered. Either way, my gold has moved without moving. If I need to move tons at a time, there would simply have to be larger nodes involved as close as possible to the destination.

In a stable worldwide economy, moving that much around would be exceedingly rare, especially with gold revalued into the tens of thousands of dollars level. How often would most people need to transfer an ounce at a value of an average American's yearly salary. Using Bitcoin instead of fiat for transfer would be more reliable, safer, and definitely faster for large amounts.

A global financial system with gold integrated into it is viable now just using gold dealers - not even banks. The physical asset doesn't have to move but locally!

As soon as a default risk appears, people won't do business with them unless they can settle on the spot.  If this means moving gold across the globe their cost of doing business skyrockets.  Can you imagine the newsmakers spreading rumors and forcing countries to go bankrupt even when they were fine before business became prohibitively expensive?  I can.

Settle up every few weeks with cargo jets.  *shrug*  In WW2 they used boats filled with gold and silver, but its the modern age, jets will work just as well..

We been over this, of course you can, so long as a good chunk of the peeps keep the majority of their assets in physical.  It's all a matter of whether you trust the bank more, or your neighbors..

I believe the topic was international settlements.  The problems with paper in this area have been addressed.

lol, what you want every transaction to be in physical?  You can't have some in physical and some in paper??    and just maybe some wait for it... electronic..

And it's exactly this saver instinct the boomers exploited to rob them.  It's okay, the boomers will get what's coming now that they all need to retire at once.  Last one out's a rotten egg!

No more inconvienent then writing a check or transfering money from savings to checking..

AV gas is pricey.  Bitcoins can be moved across the globe much cheaper.  Even dollars are cheaper to move since gold is so damn heavy.