what if bitcoin was as common as gold - page 2.

adamstgBit

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Quote from: ElectricMucus on August 11, 2012, 08:33:53 PM

Quote from: mc_lovin on August 11, 2012, 08:29:08 PM

plus bitcoin is more spendable than gold. you can't easily send 0.01 Oz of gold to someone, but you could with bitcoin!

gold has very few uses in this world except just sitting there and holding value.

Sooner or later you will be able to trade single gold atoms.

physically transferring single gold atoms isn't easy

physically transferring 0.00023 BTC on the other hand is very easy Wink

ElectricMucus

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Quote from: mc_lovin on August 11, 2012, 08:29:08 PM

plus bitcoin is more spendable than gold. you can't easily send 0.01 Oz of gold to someone, but you could with bitcoin!

gold has very few uses in this world except just sitting there and holding value.

Sooner or later you will be able to trade single gold atoms.

mc_lovin

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www.bitcointrading.com

plus bitcoin is more spendable than gold. you can't easily send 0.01 Oz of gold to someone, but you could with bitcoin!

gold has very few uses in this world except just sitting there and holding value.

TECSHARE

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There is a problem with your premise. We do not know how much gold we have on earth or if it can be found on other planets even, we do however know EXACTLY how many Bitcoins will be mined. Kind of comparing apples and something somethings.

ElectricMucus

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Playing devils advocate here, you people forget golds 6000 year track record. That means alot and is the main reason it is viewed as valuable.
So I doubt BTC would even reach gold parity within ~~our lifetime.~~ (That would be 1BTC == 1OZ gold) the next two decades.

Once you can give BTC to your grandchildren you can think about gold parity and beyond. But first it has to stick around some time to be recognized.

conspirosphere.tk

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Moreover the gold world stock is growing at around 2% per year if I remember well, and there is still a lot of it to mine on the bottom of the seas and in the earth mantle (if they find a way). And no part of the gold world stock can be lost forever nor destroyed easily if at all (in contrast with BTC), so BTC are going to be very deflationary compared with gold (I fear quite too much).

Roger_Murdock

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Quote from: BrightAnarchist on August 10, 2012, 11:31:44 PM

I think another interesting ratio is # ounces gold / # btc

Which is 5,079,817,925 / 21,000,000 ~= 241

That is, BTC should be worth 241 ounces of gold if we assume parity in terms of utility.

With gold at $1571, that's 241 * $1571 ~= $378K per BTC

and with bitcoin at $11.42, if we went to $378K, that would be a gain of 33,000 times your investment, or about a 3 million percent gain.

LOL

Parity with gold is a completely unrealistic assumption. Bitcoin is as least ten times better than gold. It should be worth, at a minimum, $3.8 million per BTC. Wink

BrightAnarchist

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I think another interesting ratio is # ounces gold / # btc

Which is 5,079,817,925 / 21,000,000 ~= 241

That is, BTC should be worth 241 ounces of gold if we assume parity in terms of utility.

With gold at $1571, that's 241 * $1571 ~= $378K per BTC

and with bitcoin at $11.42, if we went to $378K, that would be a gain of 33,000 times your investment, or about a 3 million percent gain.

LOL

adamstgBit

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Quote from: legolouman on August 10, 2012, 10:52:50 PM

Quote from: adamstgBit on August 10, 2012, 10:45:01 PM

Quote from: ElectricMucus on August 10, 2012, 10:36:11 PM

Nifty another bullion vs. bitcoin thread. Grin

It's somthing like if the entire gold were in good delivery bar there would be as many bars as bitcoin. Does that answer your question?

Any plan on convincing the Rothschilds to switch to Casasicus coins yet? Tongue

huh?

i want to know what the price would be if the supply of bitcoin was the same as the supply of Oz's of gold

assuming their is about 5,079,817,925 Oz of gold

bitcoin would be worth 0.0475$ each with the same supply

Where did you get that number?

http://www.coinweek.com/bullion-report/how-much-gold-is-there-in-the-world/

then i did

21,000,000 / 5,079,817,925 * 11.5

legolouman

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Quote from: adamstgBit on August 10, 2012, 10:45:01 PM

Quote from: ElectricMucus on August 10, 2012, 10:36:11 PM

Nifty another bullion vs. bitcoin thread. Grin

It's somthing like if the entire gold were in good delivery bar there would be as many bars as bitcoin. Does that answer your question?

Any plan on convincing the Rothschilds to switch to Casasicus coins yet? Tongue

huh?

i want to know what the price would be if the supply of bitcoin was the same as the supply of Oz's of gold

assuming their is about 5,079,817,925 Oz of gold

bitcoin would be worth 0.0475$ each with the same supply

Where did you get that number?

ElectricMucus

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Yeah that sounds about right. So in about 6000 years bitcoin prices should be up by a factor of 34,000.

Tongue

adamstgBit

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Quote from: ElectricMucus on August 10, 2012, 10:36:11 PM

Nifty another bullion vs. bitcoin thread. Grin

It's somthing like if the entire gold were in good delivery bar there would be as many bars as bitcoin. Does that answer your question?

Any plan on convincing the Rothschilds to switch to Casasicus coins yet? Tongue

huh?

i want to know what the price would be if the supply of bitcoin was the same as the supply of Oz's of gold

assuming their is about 5,079,817,925 Oz of gold

bitcoin would be worth 0.0475$ each with the same supply

ElectricMucus

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Nifty another bullion vs. bitcoin thread. Grin

It's somthing like if the entire gold were in good delivery bar there would be as many bars as bitcoin. Does that answer your question?

Any plan on convincing the Rothschilds to switch to Casascius coins yet? Tongue

adamstgBit

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what would bitcoin price be, if their were as many bitcoins are their is Oz of gold?

put that in your pipe and smoke it!

Cheesy

Topic: what if bitcoin was as common as gold - page 2. (Read 1829 times)