Help me out here - page 2. | Bitcointalksearch.org

kissme09

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Quote from: coinycoiny on April 24, 2018, 10:09:33 AM

So imagine I can make a copy of all the gold in the world and then sell it. Maybe not exactly the same but 99%. Perhaps a bit lighter or a little less golden in colour.

But in reality, this copy would be as near identical that it could be used in jewelry, electronics etc. Bit it wouldn't be gold.

Lets just call it new gold. Then I gave everyone who currently possed gold the same amount of new gold.

What would happen to the value of gold?

What do you think the value of new gold would be?

Its accuracy of 99% means that it still has incomplete scores and is sure it can not pass the gold test. If you can make copies of gold and it is accepted by gold, through like real gold, I think you will be able to change the price of gold quickly in a short time.

hurry_hore

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Quote from: coinycoiny on April 24, 2018, 10:09:33 AM

So imagine I can make a copy of all the gold in the world and then sell it. Maybe not exactly the same but 99%. Perhaps a bit lighter or a little less golden in colour.

But in reality, this copy would be as near identical that it could be used in jewelry, electronics etc. Bit it wouldn't be gold.

Lets just call it new gold. Then I gave everyone who currently possed gold the same amount of new gold.

What would happen to the value of gold?

What do you think the value of new gold would be?

I think it will depend on the acknowledgement of people who use gold, if they admit new gold with nearly similar to gold then call it "new gold' then the price will be increased. Gold price itself perhaps influenced by this new gold but it depends on the people acknowledgement, how "identical" with original gold. I think we already customized with this analogy in actual life, there were gold imitation made of some material just to substitute gold for jewelry in lower economic people. But unfortunately, the community hadn't acknowledge to be identical and this was admitted by the user itself then the value is much lower than original gold while the original gold price was not affected at all.

ralle14

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Quote from: coinycoiny on April 24, 2018, 10:09:33 AM

What would happen to the value of gold?

What do you think the value of new gold would be?

The value of gold could increase because people who received the new gold would sell it and they'll use that money to buy more gold there's no point in using new gold. The value of new gold won't be close to the old gold because it's quality isn't the same. The current price of gold is at $1300~ if there was a "new gold" to be distributed in the future my estimate would be at $100 or lower.

pooya87

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you can never "replace" the original thing. gold is a bad example in my opinion i prefer "diamond". we all know it is valuable and it has some utilities as jewelry and because of its mechanical properties such as high hardness it is used in machining,...
some day someone created a "copy" of diamond known as synthetic diamond. it exists today and it is used but it can not replace the original thing. because this "copy" has good properties it is used in same applications as real diamond and that makes it valuable but real diamond is still valuable too.

Drimoge

newbie

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I suppose to make a genuine copy of it impossible, and if you do such a copy you are deceiving a customer or a gold buyer if you do not tell the customer.

fabioganga

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Quote from: coinycoiny on April 24, 2018, 10:09:33 AM

So imagine I can make a copy of all the gold in the world and then sell it. Maybe not exactly the same but 99%. Perhaps a bit lighter or a little less golden in colour.

But in reality, this copy would be as near identical that it could be used in jewelry, electronics etc. Bit it wouldn't be gold.

Lets just call it new gold. Then I gave everyone who currently possed gold the same amount of new gold.

What would happen to the value of gold?

What do you think the value of new gold would be?

I believe we should stop seeing Bitcoin on one side and all other coins as if they were clones of Bitcoin. They are not. Each project is an INDIVIDUAL COIN. Same project are very valid and will create coins that last and stand out (Litecoin, Dash, Dogecoin and more recently Bitcoin cash and Bitcoin Private) and some instead end up being shitcoins.

Assuming that all altcoins are just surrogates of Bitcoin is definitely incorrect and would convey a very distorted image of cryptocoins.

BrewMaster

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There is trouble abrewing

while you are at it, you can start up the oldest scam in the book. you gather a bunch of people around and tell them you are an "Alchemist" and capable of turning other metals into gold. you take these metals like copper to have a similar color at least and use some showmanship and fool some of them into paying you money to buy your "gold" Wink

or you know, you do a modern version of it using the blockchain technology.

Xavofat

hero member

Activity: 938

Merit: 559

Did you see that ludicrous display last night?

Of course this is impossible, but if it were possible, the price of gold would fall drastically in the long-term as businesses would decide to use the "new gold" in their products.

Anyway, I'm not an idiot. Clearly you're making the veiled point that since cryptocurrencies can be easily created which are a copy or near-copy of Bitcoin, Bitcoin should be worth less.

The reason that the same logic isn't applicable to Bitcoin is because Bitcoin's security is dependent on having a large userbase. A new cryptocurrency is easily attacked, and since an infinite number can be created, it's incredibly difficult for it to gain momentum.

First-mover advantage may not last forever, but at this point turning the tables is so difficult that the possibility of it happening is negligible.

coinycoiny

member

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So imagine I can make a copy of all the gold in the world and then sell it. Maybe not exactly the same but 99%. Perhaps a bit lighter or a little less golden in colour.

But in reality, this copy would be as near identical that it could be used in jewelry, electronics etc. Bit it wouldn't be gold.

Lets just call it new gold. Then I gave everyone who currently possed gold the same amount of new gold.

What would happen to the value of gold?

What do you think the value of new gold would be?

Topic: Help me out here - page 2. (Read 401 times)