Will Gold and Silver lose all its speculative value to Bitcoin? - page 4.

windjc

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Quote from: adamstgBit on November 21, 2013, 07:11:49 PM

Will Gold and Silver lose all its speculative value to bitcoin?

http://www.youtube.com/watch?v=35r9VHUblVM

i'm been saying this for years now, will my dream come true?

Is it just me or does Shift seem defensive and a little uptight about Bitcoin.

I mean if he really doesn't see it as a threat to gold, why is he talking about it? Why even bother? If its REALLY a TULIP, then he shouldn't even be giving BTC lip service.

bitcon

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also some early adopters (smart ones anyways) have used profits from their Bitcoin investment to diversify their portfolio with precious metals that they otherwise could not afford.

Coinseeker

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Quote from: adamstgBit on November 21, 2013, 08:11:52 PM

well gold can be filled with tungsten so it has "counter-party-risk" as well

That's not counter party risk, that's gold being susceptible to counterfeit. Something Bitcoin prevents.

Quote from: bitcon on November 21, 2013, 08:15:29 PM

i don't think Gold is dropping value because of Bitcoin. i think Gold is losing value because people are regaining confidence in Fiat/Stocks etc. silly humans.

Likely this. ^^ Just as when stocks and economy tumble people run to gold.

windjc

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Quote from: adamstgBit on November 21, 2013, 07:11:49 PM

Will Gold and Silver lose all its speculative value to bitcoin?

http://www.youtube.com/watch?v=35r9VHUblVM

i'm been saying this for years now, will my dream come true?

This is an amazing video!

Shitf single handedly refutes all his arguments over the last month against Bitcoin. Now all he is arguing is intrinsic value!

Wow, this is actually a major shift.

And the intrinsic value argument is ridiculous! You've got to be kidding me. There are dozens of metals with more intrinsic value than gold.

bitcon

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i don't think Gold is dropping value because of Bitcoin. i think Gold is losing value because people are regaining confidence in Fiat/Stocks etc. silly humans.

adamstgBit

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Quote from: Coinseeker on November 21, 2013, 08:10:38 PM

Quote from: wachtwoord on November 21, 2013, 08:05:46 PM

I completely disagree. Bitcoin improves on gold for every property. Bitcoin is an evolution over gold. Cryptocurrencies are an evolution over PMs.

How does Bitcoin has "counter-party-risk" anyway? You can store your own private keys, it's actually easier than storing your own gold in sufficient quantities.

And stability? I think that's overrated, but at some point the value will stop its explosive growth.

Think we'll just have to agree to disagree. Wink

Bitcoin has "counter-party-risk" because it's digital. Requires electricity, among other things. If all the lights go out, Bitcoin is useless but gold will still be extremely valuable, as it's been for thousands of years. You can't digitally evolve gold. You can digitally evolve fiat currencies, but not gold.

well gold can be filled with tungsten so it has "counter-party-risk" as well

Coinseeker

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Quote from: wachtwoord on November 21, 2013, 08:05:46 PM

I completely disagree. Bitcoin improves on gold for every property. Bitcoin is an evolution over gold. Cryptocurrencies are an evolution over PMs.

How does Bitcoin has "counter-party-risk" anyway? You can store your own private keys, it's actually easier than storing your own gold in sufficient quantities.

And stability? I think that's overrated, but at some point the value will stop its explosive growth.

Think we'll just have to agree to disagree. Wink

Bitcoin has "counter-party-risk" because it's digital. Requires electricity, among other things. If all the lights go out, Bitcoin is useless but gold will still be extremely valuable, as it's been for thousands of years. You can't digitally evolve gold. You can digitally evolve fiat currencies, but not gold. As awesome as Bitcoin is, it still has no intrinsic value.

Stability overrated for a currency? Yeah, probably not going to get many that agree with that. Stability is essential for usefulness.

wachtwoord

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Quote from: Coinseeker on November 21, 2013, 08:01:21 PM

Quote from: wachtwoord on November 21, 2013, 07:53:50 PM

People will see that that's actually the same thing. This is why fiat "currencies" are so incredibly bad currencies.

Well if Bitcoin doesn't become stable, it will never find usefulness as a currency. It will merely be a digital store of value. Gold has survived every type of fiat ever created. I think comparing Bitcoin to Gold is honestly, wishful thinking. As I said, gold requires nothing to exist. Bitcoin, at it's most fundamental level, still has "counter-party risk". Thus, I don't think the two can accurately be compared. They are completely different. That's not to say, many gold speculators wont jump on Bitcoin. It's highly possible they will.

I completely disagree. Bitcoin improves on gold for every property. Bitcoin is an evolution over gold. Cryptocurrencies are an evolution over PMs.

How does Bitcoin has "counter-party-risk" anyway? You can store your own private keys, it's actually easier than storing your own gold in sufficient quantities.

And stability? I think that's overrated, but at some point the value will stop its explosive growth.

Coinseeker

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Quote from: wachtwoord on November 21, 2013, 07:53:50 PM

People will see that that's actually the same thing. This is why fiat "currencies" are so incredibly bad currencies.

Well if Bitcoin doesn't become stable, it will never find usefulness as a currency. It will merely be a digital store of value. Gold has survived every type of fiat ever created. I think comparing Bitcoin to Gold is honestly, wishful thinking. As I said, gold requires nothing to exist. Bitcoin, at it's most fundamental level, still has "counter-party risk". Thus, I don't think the two can accurately be compared. They are completely different. That's not to say, many gold speculators wont jump on Bitcoin. It's highly possible they will.

wachtwoord

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Quote from: adamstgBit on November 21, 2013, 08:00:00 PM

Quote from: wearepoor on November 21, 2013, 07:59:25 PM

Quote from: Coinseeker on November 21, 2013, 07:44:39 PM

Quote from: wachtwoord on November 21, 2013, 07:39:15 PM

Quote from: Coinseeker on November 21, 2013, 07:38:19 PM

Gold is tangible. Bitcoin can aspire to tap into the gold market sure, but gold is still a better store of value because it requires nothing to exist. Bitcoin will always require electricity.

Tangibility is actually an undesirable property. Time will show everyone because superior currencies will win in the end.

True, we will see but gold is not trying to be a currency. It's store of value.

Not only store of value, gold is used in electronic and some other areas aswell. It is usefull metal

aluminum is useful too

Yes and we're merely talking about speculative value here. Industrially gold will continue to be used and don't forget jewelry. But that makes up such a tiny portion of the market cap ...

adamstgBit

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Quote from: wearepoor on November 21, 2013, 07:59:25 PM

Quote from: Coinseeker on November 21, 2013, 07:44:39 PM

Quote from: wachtwoord on November 21, 2013, 07:39:15 PM

Quote from: Coinseeker on November 21, 2013, 07:38:19 PM

Gold is tangible. Bitcoin can aspire to tap into the gold market sure, but gold is still a better store of value because it requires nothing to exist. Bitcoin will always require electricity.

Tangibility is actually an undesirable property. Time will show everyone because superior currencies will win in the end.

True, we will see but gold is not trying to be a currency. It's store of value.

Not only store of value, gold is used in electronic and some other areas aswell. It is usefull metal

aluminum is useful too

wearepoor

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Quote from: Coinseeker on November 21, 2013, 07:44:39 PM

Quote from: wachtwoord on November 21, 2013, 07:39:15 PM

Quote from: Coinseeker on November 21, 2013, 07:38:19 PM

Gold is tangible. Bitcoin can aspire to tap into the gold market sure, but gold is still a better store of value because it requires nothing to exist. Bitcoin will always require electricity.

Tangibility is actually an undesirable property. Time will show everyone because superior currencies will win in the end.

True, we will see but gold is not trying to be a currency. It's store of value.

Not only store of value, gold is used in electronic and some other areas as well. It is usefull metal

wachtwoord

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Quote from: Coinseeker on November 21, 2013, 07:44:39 PM

Quote from: wachtwoord on November 21, 2013, 07:39:15 PM

Quote from: Coinseeker on November 21, 2013, 07:38:19 PM

Gold is tangible. Bitcoin can aspire to tap into the gold market sure, but gold is still a better store of value because it requires nothing to exist. Bitcoin will always require electricity.

Tangibility is actually an undesirable property. Time will show everyone because superior currencies will win in the end.

True, we will see but gold is not trying to be a currency. It's store of value.

People will see that that's actually the same thing. This is why fiat "currencies" are so incredibly bad currencies.

Coinseeker

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Quote from: wachtwoord on November 21, 2013, 07:39:15 PM

Quote from: Coinseeker on November 21, 2013, 07:38:19 PM

Gold is tangible. Bitcoin can aspire to tap into the gold market sure, but gold is still a better store of value because it requires nothing to exist. Bitcoin will always require electricity.

Tangibility is actually an undesirable property. Time will show everyone because superior currencies will win in the end.

True, we will see but gold is not trying to be a currency. It's store of value.

wachtwoord

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Quote from: Coinseeker on November 21, 2013, 07:38:19 PM

Gold is tangible. Bitcoin can aspire to tap into the gold market sure, but gold is still a better store of value because it requires nothing to exist. Bitcoin will always require electricity.

Tangibility is actually an undesirable property. Time will show everyone because superior currencies will win in the end.

Coinseeker

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Gold is tangible. Bitcoin can aspire to tap into the gold market sure, but gold is still a safer store of value because it requires nothing to exist. Bitcoin will always require electricity.

wachtwoord

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Quote from: adamstgBit on November 21, 2013, 07:30:45 PM

this is what Petter Shitf thinks -> http://www.youtube.com/watch?v=0L7SOPDOvvI

Ah

and he started so well. (although he shouldn't say replicate but rather improve for each of the characteristics)

He doesn't understand intrinsic value.

adamstgBit

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this is what Petter Shitf thinks -> http://www.youtube.com/watch?v=0L7SOPDOvvI

YoYa

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Always verify deals with me through my public key!

Quote from: adamstgBit on November 21, 2013, 07:11:49 PM

Will Gold and Silver lose all its speculative value to bitcoin?

http://www.youtube.com/watch?v=35r9VHUblVM

i'm been saying this for years now, will my dream come true?

also can someone post a GOLD VS BTC price chart

Nah.....some people will always demand tangible assets that can be held in ones hand. Granted you can make casscis coins, but still there will always be a demand the known safe reliable bet......and I sure as hell ain't a gold bug but feel obliged to say it.

adamstgBit

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%5 of gold is about 9 trillion dollars, apply that to 21 million bitcoins and we get a price of over 37,000$ pre bitcoin.

Grin

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