Bitcoin Forum

it's bound to happen. who the fuck cares about a shiny yellow metal anymore. not us geeks ;)

so i've been thinking about this and i'm fairly confident gold will plummet back down to 200 or so soon.
let's make predictions
2018?

I would be happy to wager against Gold going to $200.

you've got to have actual money or coins to make a wager...

If BTC does pass Gold value then all media therefore the world will be eyes on Bitcoin

Price increases a sh!t ton after that

If you are fairly confident about that, take some of your Bitcoin profits and get busy on the comex futures market. It would be stupid not to.

You are also fairly alone with that too and many people would take the counterpoint of your position as heavy resistance at gold parity suggests. Look over to China... I'm sure there enough people with plenty of funds.

horrible advice as usual. if i believe i can make more money from bitcoin's appreciation then from gold' depreciation it makes no semse to sell any coins to short gold. gold will go down on it's own. i'll just eat popcorn and watch

Agree with the sentiment generally, but not the target or timeframe. IIRC, the "industrial demand" component of gold's value is something like $400-$600/oz, so that's a pretty natural floor. I also think it'll take decades for the monetary component of gold to fully collapse (ie, we still have a nasty generation-gap; many people with decades of investing life left don't "trust" digital things). And if China declares gold-backing for the Yuan (or succeeds in getting the IMF to create a new basket reserve currency that includes gold), that could make it take 50-100yrs longer.

The non stop printing presses will ensure gold doesn't go below $200 an ounce ever.  Hell it might go to $100,000 per ounce although $100,000 someday might be low enough to qualify for food stamps.  The dollar has lost 99.2% of its purchasing power in the past 80 years.  That trend isn't slowing down.

The problem is that we need everyone else and not only geeks to think that way  :P

LOL

how many times in history people must've proclaimed the death of gold, yet it's survived every fiat and other forms of money. Now , it's btc's turn to put the nail in the coffin. Man, it's funny how people underestimate gold's staying power, you'd think after thousands of years it would gain a little respect lol

Btw, u'll never see gold at $200 or even $500 ever again. With all the printing going on, it's just a matter of time that it shoots up to $3000 and beyond. The chinese, indians, east asians are buying it hand over fist. The real stuff, not comex crap. The West is dead !

There is still a lot of upside with "just the geeks" Market share of GNU/Linux on the desktop 1.56% http://www.netmarketshare.com/ (http://www.netmarketshare.com/). World M1 money supply 21 Trillion USD,  1.56% of 21 Trillion USD, 327 Billion USD or 27,000 USD per BTC.

Hm.... I could live with that geeky 27k per bitcoin i guess....

Any basis to back up your opinion? Is it because the dollar is so strong and the DOW has lots of room still to rise?
Or that tapering will help markets, and when rates rise it won't be a problem because America is almost debt free and there are so many buyers for bonds?

Those things are all good for gold.

How many times? Probably not that many, seeing as dollar convertibility was only ended in 1971. This pure-fiat experiment is very very young. For most of civilized history, gold and silver coin were mainstays of many societies. It's really only been the last 40yrs where gold has not served any direct monetary purpose for most of the world.

So I'd imagine the "gold is dead" proclamations haven't been going on that long. Might've had some rumblings in 1913 and then again with Bretton Woods, but nothing too credible since the gold peg to the dollar was still the underlying monetary paradigm until the 1970s.

Obviously the 1.56% that use linux isn't the 1.56% of the world population. On top of that those that use linux are not going to convert all their usd on bitcoins and more important we want whales to join bitcoin. Off shore money and funds money.

honestly, i'd prefer regular people over whales anyday. i'd rather joe shmoe get a bit rich than a rockefeller getting even more rich.

Someone will be richer than the other anyway. That doesn't changes with bitcoin. Regular joe can join the coin like the sheep he is anyway but bitcoin has to be noticed first. And price is why 99% of the people notice bitcoin.

If Bitcoin passes Gold market cap, then:

http://2.bp.blogspot.com/-xWoVnlsLkgo/UPXVQdmPOPI/AAAAAAAAFKM/vPn3IXiOyn8/s1600/farnsworth+futurama+meme+i+don't+want+to+live+on+this+planet+anymore+good+news+everyone+lol.jpg

 :o :o :o :o :o :o :o :o :o

2020

 ;D ;D ;D ;D ;D ;D ;D ;D

gold to $200 , what gold , which amount of gold?
It's a comparison between two different things.

https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcTouF_oas5JYJWSrpgnKf7YFO-fo8xM9XnMPufK0wjvVmh4WpIa


Well , I haven't seen any rapper with laptops hanging from their neck recently:)

have you heard of snoop dogg? :D

Course , but he is just talking about bitcoins , he still has a gold necklace , not one made out of usb erupters.
My uncle has a 300K usd JD combine , but he won't get as many chick with it as a guy driving a 50k Mercedes. ;)

Without gold , there are no geeks.
This shiny metal ha some interesting uses nowadays.

Arabs and cable companies of course, they basically drive the mark :D

February 16th 2023 at 6PM GMT

 

Im affraid, but bitcoin's market cap CANNOT surpass gold's market cap

It is simply impossible. Gold is valuable store of wealth for thousand of years

Gold is recognized as the true standard of value across the globe since thousands of years ago and will probably still a good value of insurance nevertheless you can still invest in a Bitcoin.

Gold is in a 4000 year uptrend. Have fun fighting that trend.