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Title: Price of gold crashes to nothing Post by: shady financier on June 23, 2011, 10:21:12 AM Some-random-supernova ltd, (the manufacturer of gold) to be hauled before the courts. Investors wait to see if shinny lumps of yellow metal will be worth anything.
http://memecaptain.com/i?u=http%3A%2F%2Fwww.wired.com%2Fimages_blogs%2Fwiredscience%2Fimages%2F2008%2F12%2F03%2Ftycho.jpg&tt=A+gold+exchange+was+robbed&tb=Future+of+supernova+uncertain+as+gold+loses+all+value+in+flash-crash Title: Re: Price of gold crashes to nothing Post by: shady financier on June 23, 2011, 10:29:43 AM Ok fine, it's not the same. The bitcoin network does not match the vast magnificent power of the natural phenomena from which gold and other metals are created. Nonetheless I stand by the illogic in the comparison. The price of bitcoin flash-crashing on an exchange does not mean bitcoin is now valueless any more than gold would become valueless if a major gold exchange got robbed (or any commodity for that matter). Can the media please stop attempting to give that impression. Bitcoin holders are not now holding their breath because of the misfortunes of MtGox "to see if their bitcoins are now worth less than the cost of the usb on which they are held" or whatever.
thank you, that is all. Title: Re: Price of gold crashes to nothing Post by: Archatos on June 23, 2011, 10:36:45 AM If there was a robbery, no.
However, if someone suddenly flooded the market selling their gold reserves, the price would take a drastic hit. Title: Re: Price of gold crashes to nothing Post by: Oldminer on June 23, 2011, 11:07:20 AM mmmmm......passionfruit....
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