Topic: What It Means For Banks When Bitcoin Is Worth More Than Gold? (Read 2418 times)
I don't think that is happening lately in 2017. Just look around you the price of bitcoin has skyrocketed to $ 1700 at this very moment and gold is well just is gold. Bitcoin or Gold it does not really matter when it comes to profiting yourself from your investment. So why would anyone want to drop the prices of bitcoins if they are getting profit from bitcoins (more than gold) in real world. It may be just banks don't wanna accept the bitcoin as real world currency yet or they might be planning to launch big time project in near future. We can't predict the devils who play the game of money.
We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?
Bank in the whole world are not get easily worry about what is happening into bitcoin. I think they don't care about it, because it won't affect them at all anyhow. Maybe if some of their clients/customers will get shift to use into bitcoin and find/discover the feature usage of it, I think in that case bank has now has a reason to get panic and worry about it. What it would mean for Banks when Bitcoin will cost more than a gold?
Nearly nothing, bitcoin price shows nothing to banks. But when bitcoin will be used frequently by multinational companies or other export-import companies to speed up transactions, they will care about the technology. Banks nowdays are in the phase of developing a new, blockchain based solution for getting things done quicker, to meet the customers' needs. If they can finish this development before bitcoin will reach the status of mass adoption, it can have influence on the price of bitcoin.
February 26, 2017, 11:03:19 PM
If it is something that is not regulated or has no clear set polices, banks would not care too much about it, which is the case with bitcoin. They might be interested with the potential and the technology behind it, but they have other services to think of. Banks are all too careful when it comes to these things and would always prefer gold as the standard over any other digital currency that comes around.
February 26, 2017, 11:00:23 PM
We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?
What it would mean for Banks when Bitcoin will cost more than a gold?
Actually i don't know is banks do not want to see bitcoin cost more than gold. How about banks start accepting bitcoin ? I mean, bitcoin have a good prospect and future. I think gold, bitcoin and bank can make a good combination and it will be a new era of digital currency though.
if bank will adopt this a lots of things are needed to be change as we knew bitcoin already established lower fee in terms of transferring the certain amount unlike banks that have bigger one its very possible that bank will start looking for more ways how to adopt because bitcoin really showing much better value than gold.
February 26, 2017, 10:44:12 PM
We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?
What it would mean for Banks when Bitcoin will cost more than a gold?
Actually i don't know is banks do not want to see bitcoin cost more than gold. How about banks start accepting bitcoin ? I mean, bitcoin have a good prospect and future. I think gold, bitcoin and bank can make a good combination and it will be a new era of digital currency though.
February 26, 2017, 09:16:55 PM
Lets say 1BTC= $1200 how many grams of gold worth $1200? lets say 3 grams, now how much is the cost of mining 3 grams of gold and how much does it cost to mine 1BTC? what is the final amount of gold on earth reachable by mining and how many bitcoins will exist?
I'd say bitcoin worth more than gold already and they know it that's why demand has increased, they're trying to have the most mined coins for control over the economy in next 5 decades.
I'd say bitcoin worth more than gold already and they know it that's why demand has increased, they're trying to have the most mined coins for control over the economy in next 5 decades.
Ah, no. $1250 per 1 toz (toz = troy oz) of gold works out to some $40 / gram (approx. 31 gm / toz). Three grams would be worth approx. $120, NOT $1250.
European Central Bank just put out some pretty good figures. (By interesting coincidence there is roughly is 1 toz for every person on the planet.)
So, let's do a little more math. I saw at blockchain.info today that the total market cap of all the BTC out there is roughly $18.55 billion.
The total market cap for all physical gold held worldwide is about $8.75 TRILLION.
Look at that again:
Gold: $8.75 trillion
vs.
BTC: $18.55 billion
A big, big difference. And not just by an order of magnitude... All the gold is worth more than 400 x times the BTC.
February 26, 2017, 10:27:03 AM
so twentysomething replies and almost no stating of the most obvious fact?
1 bitcoin - $1170 ish right now.
1 ounce of gold - $1257
Total number of bitcoins in existence - about 16,200,000
Total number of ounces of gold in existence - approximately 6,500,000,000
can anyone else spot those extra 6,498,380,000 ounces more that happen to be out there?
i know it's a psychological barrier, but... sheesh.
1 bitcoin - $1170 ish right now.
1 ounce of gold - $1257
Total number of bitcoins in existence - about 16,200,000
Total number of ounces of gold in existence - approximately 6,500,000,000
can anyone else spot those extra 6,498,380,000 ounces more that happen to be out there?
i know it's a psychological barrier, but... sheesh.
February 26, 2017, 09:06:24 AM
We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?
What it would mean for Banks when Bitcoin will cost more than a gold?
Well, hope you know that gold is behind money and gold was the only worldwide thing, which was used everywhere as a payment. With that reason we can connect bitcoin with that persons which don't want bitcoin's price higher than gold. To my mind there are many reasons for that, low price is good sometimes for exchangers as higher price is good when someone is buying from them. No one can to give you real answer but mostly big players want to control it as they want for their aims.
February 26, 2017, 08:35:25 AM
We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?
What it would mean for Banks when Bitcoin will cost more than a gold?
Absolutely nothing. I am pretty sure that banks they don't give a penny if the price of bitcoin will sky rocket because they care only about the profit. Therefore, is anyone sure that banks have not bitcoins in their portfolio? For banks the bitcoin the gold, the oil or anything else is like stocks. Banks will fight against bitcoin when the local currency is threatened because of its circulation i.e the PBOC asked AML/KYC bitcoin regulations and ban the bitcoin withdrawals in chinese exchanges in order to defend yuan.
The banks will mind if bitcoin is worth than gold and it is widely used by the masses. If that happens there will be lesser depositors in the banks and that means less income production. As we all know that banks uses our deposits and release it as a form of loan to their clients but without the depositors they will be forced to find large shareholders to fix the problems. But when the majority of people are into bitcoins the banks will suffer huge losses since people will hold more bitcoin rather than cash.
February 26, 2017, 01:43:19 AM
We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?
I'd be hesitant to say anything right now, since it is entirely possible they can just ignore it.What it would mean for Banks when Bitcoin will cost more than a gold?
It's not like the value of something is the end all be all for investors, a lot of them do have to keep in mind that volatility is a factor, and over the past day we've seen a $80 change in the value, trending downwards. It's not like they think everything is hunky-dory.
Yeah banks won't get affected much because of bitcoin. People around the world depend much on banks for their financial needs. Bitcoin continues as an alternate solution for banking. This doesn't help bitcoin go mainstream and overcome the services provided by banks. Gold has got the trust of users much more than bitcoin. So surely people depend on gold and banks for emergency needs and bitcoin as a form of investment.
February 26, 2017, 01:26:36 AM
I don't think it is going to affect anything, maybe less people will invest in gold and maybe more people will invest in bitcoin, but not all people in the world know bitcoin and believe in bitcoin,so there will be always people who is going to invest in gold and put their money in the bank, no matter whta happen with bitcoin, gold and bank will never collapse
February 26, 2017, 01:05:56 AM
Lets say 1BTC= $1200 how many grams of gold worth $1200? lets say 3 grams, now how much is the cost of mining 3 grams of gold and how much does it cost to mine 1BTC? what is the final amount of gold on earth reachable by mining and how many bitcoins will exist?
I'd say bitcoin worth more than gold already and they know it that's why demand has increased, they're trying to have the most mined coins for control over the economy in next 5 decades.
I'd say bitcoin worth more than gold already and they know it that's why demand has increased, they're trying to have the most mined coins for control over the economy in next 5 decades.
February 26, 2017, 12:14:29 AM
The is a conspiracies from bank especially people bank of china to keep bitcoin below $1200 infact the first idea is to keep it below $1000. Like Rothschild said "give me the control and printing of the country money and I would not care who rule it" that is what you see happening. Bitcoin is bigger than any man or group of greedy elites who keep their investment in gold and don't what bitcoin to grew.
February 25, 2017, 11:47:22 PM
We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?
For Banks? I don't think it would be mean/affect them, maybe just a little bit, simply because bitcoin and banks are in different matter. Banks still handle fiat money transaction and bitcoin just an alternative currency for now. Although, we need fiat money to buy bitcoin which makes fiat as another major foundation for bitcoin environment.What it would mean for Banks when Bitcoin will cost more than a gold?
February 25, 2017, 09:39:30 PM
We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?
What it would mean for Banks when Bitcoin will cost more than a gold?
Absolutely nothing. I am pretty sure that banks they don't give a penny if the price of bitcoin will sky rocket because they care only about the profit. Therefore, is anyone sure that banks have not bitcoins in their portfolio? For banks the bitcoin the gold, the oil or anything else is like stocks. Banks will fight against bitcoin when the local currency is threatened because of its circulation i.e the PBOC asked AML/KYC bitcoin regulations and ban the bitcoin withdrawals in chinese exchanges in order to defend yuan.
February 25, 2017, 05:58:24 PM
We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?
For Banks? I don't think it would be mean/affect them, maybe just a little bit, simply because bitcoin and banks are in different matter. Banks still handle fiat money transaction and bitcoin just an alternative currency for now. Although, we need fiat money to buy bitcoin which makes fiat as another major foundation for bitcoin environment. What it would mean for Banks when Bitcoin will cost more than a gold?
February 25, 2017, 05:50:25 PM
We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?
What it would mean for Banks when Bitcoin will cost more than a gold?
To be honest i dont know, but Ben burnake said that gold isnt money which pretty much sounded like "i dont care" to me. If bitcoin takes over then we win so i doubt they will like it and will prob do everything to oppose it.
February 25, 2017, 03:57:14 PM
We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?
I'd be hesitant to say anything right now, since it is entirely possible they can just ignore it.What it would mean for Banks when Bitcoin will cost more than a gold?
It's not like the value of something is the end all be all for investors, a lot of them do have to keep in mind that volatility is a factor, and over the past day we've seen a $80 change in the value, trending downwards. It's not like they think everything is hunky-dory.
February 25, 2017, 11:55:45 AM
We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?
I'd be hesitant to say anything right now, since it is entirely possible they can just ignore it.What it would mean for Banks when Bitcoin will cost more than a gold?
It's not like the value of something is the end all be all for investors, a lot of them do have to keep in mind that volatility is a factor, and over the past day we've seen a $80 change in the value, trending downwards. It's not like they think everything is hunky-dory.
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