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Topic: Timothy Coles is Selling His $2 Million Gold Mine for Bitcoin - page 2. (Read 2263 times)

hero member
Activity: 798
Merit: 1000
In theory a good hedge but mining for gold is not a simple process sans domain expertise and tech investment
Let's wait and see how this plays out

This is absolutely true, hence why you might want to take him up on the offer of his willingness to stay on to manage the property for up to five years to ensure the operation runs smoothly  Wink
hero member
Activity: 784
Merit: 1000
So is he basically putting everything he owns into Bitcoins?  That doesn't seem like the smartest idea...Never put all your eggs in one basket.
member
Activity: 70
Merit: 10
Bitcoin is more valuable than gold in the future IMO.
legendary
Activity: 1260
Merit: 1029
Good move. Gold is worthless.

This is just plain and simple ignorant. As much as i love bitcoin, i still think that gold will be valuable much much longer than Bitcoin. Bitcoin will eventualy be replaced (in 5...10..50...100 years, doesnt matter) with coin that is more advanced, but gold will never be replaced untill time comes when human kind can produce gold out of another materials that have no traces of gold in themselves.

And to be able to produce gold out of other materials you need energy of two colliding dead stars. And once we get there, money will be irrelevant all together.
full member
Activity: 181
Merit: 100
Good move. Gold is worthless.

Russia and China central banks holding a lot of gold. You think you know more than them?
member
Activity: 70
Merit: 10
Good move. Gold is worthless.
hero member
Activity: 686
Merit: 500
A pumpkin mines 27 hours a night
Miners have a thing for work in hot conditions, uncertain chances for success, eating out of tin-pans, and being trapped by a rock-slide.
sr. member
Activity: 644
Merit: 260

If the sale will end well there will be another wave of adopters coming in the bitcoin business, I hope some whale will buy it soon.
hero member
Activity: 490
Merit: 500
In theory a good hedge but mining for gold is not a simple process sans domain expertise and tech investment
Let's wait and see how this plays out
hero member
Activity: 798
Merit: 1000
This could be a great hedge for some of the more welathy BTC owners that are around. After two years you have your investment back and can then produce your own gold.

sr. member
Activity: 476
Merit: 250
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