Bitcoin Forum

^ I just read about the prediction that the price of gold will go to the moon.


the price of Gold for the past few years
https://i.imgur.com/GXwEHJD.png
https://goldprice.org/spot-gold.html

are you sure the price of gold will break $ 321.54 / gram and how will it affect the crypto backed-gold currencies like GOLD Stablecoin. (https://bitcointalk.org/index.php?topic=5161544)

#feel free to discuss

Not only gold but silver prices will also rise high. Both Gold and silver are safe heaven if you are looking to invest your money.

Unsafe Investments: Stocks / Land  Property / Fiat Money
Safe Investments:  Gold / Silver / Bitcoin

I kinda agree but I would separate land and property. Many properties are hugely overvalued, typically apartments in town centres (who wants to live there if pandemics become regular) but land - real land where you can grow food - is the best investment of all. You can't eat gold.

Gold become best and secure investment for the future without risk lower price, different with bitcoin and altcoin because have bigger risk when bitcoin and altcoin going down, many people like for investing with gold for long term and take much profit with bitcoin as short investment term, by the way bitcoin could up suddenly more than 100% few years only.

Natural resources that cannot be replenished will only get higher prices as far as the demand goes, in my opinion the price will only get bigger but now is not the time. These gold backed cryptocurrencies will have the advantage, the only problem with gold is that there isn't that much market that is available to the public, that is about it, in terms of security in investment, the chances of gold price plummeting is low.

I dont completely agree with your choices though. This is a bitcoin forum and thus a thread like this will get a response like yours but still it is not a logical one.

You see, gold and property are limited resources and thus their demand will be rising as population grows, because hey, they love to breed like rabbits dont they? ;D

Anyway bitcoin is also having a limited supply so it is also a winner here. But fiat money is obviously not a good thing to keep your money in. Stocks are good if you know what the put money into and when to exit. Its needs more daily analysis to keep up and difficult to maintain a proper portfolio. Invest in consumer good sector in stocks when prices are low, you will be getting a green streak.

Basically he's saying that gold will moon, that is go 10x higher than it is now.
Honestly, i doubt it. IMHO it might go up or down, but not by 10x for sure, atleast not in the sence we're seeing in crypto.
In the next 5000 years it might be worth 10x than now, once all ores are depleted and we have 1 trillion population

Many investors feel that now is not the right time to add gold investment because the price is high. The soaring prices of gold and precious metals are very likely in the future with the simple consideration that with the existence of a pandemic and the uncertainty of the global situation about the end of the pandemic, people assume that gold is still the safest asset in the long run. Everyone hopes that the pandemic ends as soon as possible and with minimal damage, only:
"The certainty of recession + fear of depression + experience of great depression + uncertainty about vaccines = pessimism on fiat and its derivative products and optimism on gold"

On the US side, the creator of the world economic system. The US realized that the creation of a dollar without an underlying gold could cause fragility even to fiat that was as strong as the dollar. Subprime mortgages provide enough valuable lessons for the US that printing money needs to be underlying so that the dollar does not overvalue. The actions of many countries that add gold as foreign exchange reserves will also make gold more valuable.

The latter though is considered without a scientific foundation. The increasing Muslim population in the world also makes gold more valuable. Because in Muslim teachings only gold and silver are recognized as money and a monetary system with an underlying gold that creates justice for all humans. There is even a certainty in the teachings of Islam that there will be a value of cooking there will be no value and only gold and silver are valuable. With the increasing population of Muslims in the world, the demand for gold will be even greater which will ultimately affect prices.

https://www.visualcapitalist.com/golden-bulls-the-price-of-gold/

I agree on that. And I don't see bitcoin go 10x neither, its just too unrealistic (in compare to bitcoins supply and demand)

Gold price is likely going to continue to increase steadily but won't spike like the way most Gold bugs are predicting because FEDs and Central bank Governors won't allow that to happen. I see people calling $5k price but I don't see that happen because it is going to make things go out of control for the FEDs

I would recommend to invest in both, if possible. Diversification is always best when investing, unless you're all-in or you really prefer one against the other forms of investments.

Gold is considered one of the valuable assets for investment, moreover for long term investment. What makes gold so special? At least, there are three features of gold as the basic criteria and also features:

Besides, gold is also valuable because of some reasons:
1. there is the weakness of the fiat (especially USD)
2. Inflation Hedge
3. Deflation Protection
4. Limited Supply Constraints
5. Increasing Demand
6. Portfolio Diversification
7. Gold is available to be investment assets, stock, jewelry, and also other function.

In this case, I'm not good at predicting the price and I don't have any ideas about it. however, the value of gold will never decrease, it will always increase during the time, moreover when there are most demand and limited supply.

related to the price of the crypto-backed by the gold, it will depend on their initial product. If the price is set following the price of gold, of course yes, the price of the crypto-backed by gold will also be increasing if the project still exists.

I found a platform years ago where to invest in gold. It's called global intergold. Not sure if it is still operating, but it is a legit business. Only thing that you need to make sure is that you join the legit team in order to claim your gold mini bar. You actually have the option to earn gold or have it encash. It's your choice.

The increase in gold prices is a reflection of the assumed inflation and therefore a measure of the real value of the dollar.
The price of the dollar is declining and therefore the value of gold is rising.
I expect to break the 2000 $ or $ 2,500 in worst case but I may assume that we will take some time to get that value.
The pandemic continues to have a major impact and strain the economy.

We have noticed in the recent period a significant rise in the price of gold globally as a result of the Corona virus and people's fear of the collapse of the economy, this is normal when the economy of a country collapses its currency becomes worthless and therefore people resort to buying gold to preserve the value of the currencies they have, this leads to a rise The demand for gold has increased dramatically and its price has increased dramatically. This is what happened. I think the price of gold will increase more and more. Of course, the price of cryptocurrencies associated with gold will increase because people will also buy these cryptocurrencies like GOLD stable coin.

Is he joking? I mean gold is something that gains value over time and I agree that in 20 years gold will become a lot more, but seriously? That much? Gold doesn't increase that much at all. If anything even bitcoin may not gain that much value.

However I wouldn't want to scare off any gold investors, gold is something very valuable and scarce and I have always considered gold to be the original bitcoin, it was used for transactions for a long period as well as gold coins too but eventually became very expensive to use as a momentary  thing and stopped using gold and turned into silver and other stuff over time. If you can buy gold, you should definitely buy gold, it would at least prevent you from losing the worth of your assets in the long run when fiat is losing value at the same time.

There will be a greater rise once this pandemic ends. As you can see, many are losing jobs, there's no more job security on these times. This will make them think about how to retain the value of their savings and will make them find a store of value.

Gold could be the first option of those people that are not aware or scared of bitcoin. There will be an impact because economy's not that good. And as for wise investors, they understand that this time is the best time for most investments to get in such as gold.

In my opinion, gold has value due to its chemical properties. That is, if a chemical element is found that is better than gold, then gold will depreciate. Sooner or later this must happen

What do you mean? I mean gold has existed for thousands of years and within that time frame, no one has discovered, of course there is Platinum and Rhodium, more expensive but it can't really replace Gold up to this point.

Gold has been steadily climbing in the last decade or so, but just like any other investments out there, it also went into a bubble. However, it still has the potential to grow in the future, but it will take some time to see a good returns, $ 10,000 / troy ounce? I don't know how long will it take to reach that levels.

the price of gold started mooning after 2009 because people started learning about the history of money and the end of the gold standard. When Quantitative Easing started in 2009 people googled it and found some gold bug youtube videos, or articles on gold bug websites. They learned about the history of money and how paper currency is trash.

Pirior to the internet people had no way of learning much about monetary policy and the history of gold/fiat/money.(unless they wanted to spend days in the library reading books, which is really uncommon). So as the internet and espcailly high speed internet became popular it became easier for people to learn about this stuff. And thus gold buying by the masses begun.

The price of gold will break $ 321.54 grams and it will not affect crypto backed-gold currencies like the gold stable currency because bitcoin investments are more profitable than gold. Its demand is higher than gold Everyone's opinion is different because the gold market is pumped by different companies It will depend on us for long term investment.

The gold price will go up,but 10K USD  per troy ounce is a crazy prediction.During the 2007-2011 global financial crisis,the gold prices never reached 10K USD,even though gold is considered to be a safe heaven.
I'm seeing bullish predictions about the gold price every day and none of them happened so far.
All the gold investors are always so hyped up about gold.It's kinda annoying. ;D
Some analyst at Bankbazzar is expecting gold price to reach 5K USD per ounce(28 grams) in 2020.Half of the year is gone.Let's see will this prediction happen until the end of 2020.Highly unlikely,if you ask me. ;D

It’s only going to affect the gold stablecoin you have mentioned, and has nothing to do with others such as Bitcoin, Ethereum, XRP, etc. These ones are not stablecoins, they are volatile and they are not backed by any of those the community that is backing them. Gold stablecoin will be affected by any move the real gold makes because it’s backed by that. And if the price of gold should increase, then we should get ready to see assets that are backed by it as they increase in worth as well. I don’t invest in gold, so I don’t really follow up with what’s happening with it, I don’t check any updates about it.

But, as gold and bitcoin belongs to same category (alternate instruments against stocks and bonds) for institutional investors, we can assume bitcoin will follow the "trend" of gold. There were times when bitcoin was struggling to surpass one ounce price of gold after beating bitcoiners do never consider gold as a reference, it seems.

i kept on reading it again and again but i dont find the connection of what you have said  .  whats the conection of btc being profitable to the gold ? or you mean to say there is more demand on btc because people think its profitable and that counters the effect of gold to btc if ever there is  .

 gold back cryptos are related to gold ?  if yes then they can be affected majorly    . the effect is good because its an increase on gold so why are all worrying   . 

With a limit of materials, gold and silver can increase higher. If you want to buy gold right now, you should buy it before the price increase, and you will be too late.

As a stable investment, gold will become something that people will want to buy because they want a safe investment that will not too volatile from time to time.

There have been many crypto projects in past which tried to peg their coin's value to gold but failed. However, Digital Gold or simply GOLD is a project which stood out and successfully created an ecosystem of gold pegged cryptocurrency which is highly liquid and can be used on ETH blockchain for making instant payments or for simply storing value in gold.

GOLD team is providing high liquidity on exchanges so the value of GOLD token is always equal to market price of 1g gold. Hence, it is surely related to gold and you are correct in saying that anticipated increase in prices of gold in upcoming days/months will positively impact the price of GOLD token.

More about GOLD project: https://gold.storage/en/home

There is zero % chance that ounce of Gold will not be $10000. It is just a mater of time. USD will lose value. And Gold will keep or even gain value. Most likely ounce of gold can be $10000 already in this decade.

Yeah, gold will rise in the long run for sure. I think in every portfolio there should be some diversification into commodities and crypto currencies. Gold and silver are a good bet. But don't forgot that the gold price is already fairly high at the moment. With all the central banks printing so much money and injecting into the economy, investors don't know where to put all there money. There is no interest on savings and you don't want to put everything into stocks. At the moment we see a high demand for gold.

The logic is this; there are stablecoins that are connected to dollars, and there are stable currencies that connected to stuff that is connected to dollars which is a long way of doing it. One example is stable currencies connected to gold, gold is usually connected to dollars.

Now, you can use USDT type of currency which would be directly dollars, or you can find coins that are calculated exactly the same way but for gold. It means your currency value increase over time like gold would increase. However bitcoin is more profitable because many people here think that bitcoin will go up higher than gold would and will be more profitable. Of course, there is no proof of this but there is no proof of anything going up or dow, it is a prediction, just like in all financial predictions.

I think that Gold's positive predictions will certainly have an impact on cryptocurrencies. Although the price of gold does not fluctuate much, people prefer gold to invest their money for safety. If the price of gold continues to rise at a relatively rapid rate and the above predictions come to fruition, it could have a profound effect on cryptocurrency. Especially those who have not acquired much skill and knowledge about cryptocurrency and have suffered losses in cryptocurrency trading and preservation may turn away from the cryptocurrency. However, it will have little effect on those who are well versed in cryptocurrency and trade it efficiently. Therefore, it can be said that if the gold price prediction comes true, it will have an impact on the cryptocurrency.

Most people refer to Bitcoin as "Digital Gold" but not a lot of investors see it that way. Gold is a better store of value, because it has a lot less price volatility. Bitcoin is still seen as a high risk investment by many and a higher Gold price will just draw in more speculators to Gold.

I think once Gold has reached a peak, some investors might take profits and they might diversify into other so-called safe-havens with higher risk. If many of these Gold investors looked at history, they would reconsider Gold as a true safe-haven, because under current federal law, gold bullion can be confiscated by the federal government in times of national crisis. (Governments can change policies as they want and when they want)  :P

https://www.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization-2020/

The gold market cap is $10 trillion, and global stock market $100 trillion, money supply $100 trillion.
If us dollar collapsed and 10% money was invested to gold, gold price will go to moon. So do bitcoin.

Would you rather have a percentage of your wealth in something that is difficult to carry and that can be easily seized off you (GOLD) or would you prefer something that is invisibile, easy to carry and that you can safely hide in any possible place (Bitcoin)? I have personally chosen Bitcoin over gold and I exchanged my previous gold holdings in BTC and tokenized gold (10%). ;)

Investors tend to turn to gold as a safe-haven asset when other financial instruments are unstable, as it is one of the oldest and most valuable assets in the world. Gold continues to attract intense interest to traders and investors today, partly due to its ability to retain its value over time, along with its position. As a relatively safe asset it can act as a hedge against unstable conditions and uncertain financial conditions. So yes, it is possible that the price of gold will reach numbers that we do not expect.

If a cryptocurrency (stablecoin) is backed by an asset such as gold, they will be moving accordingly. If you’re buying a stablecoin that claims to be backed by gold and precious metals, then you’re basically buying those assets, the tokens/coin you’re buying is like buying a share that gives you a possession that the company that owns the cryptocurrency is selling. That’s how it is, so they are going to be increasing in price when gold is going up.

I have seen a lot of cool gold-backed coins, and there was one I saw that is backed by several precious metals, and it’s really cool. I just have to take my time and look into them before investing.

Why dont you simply buy Gold? You hold gold then without any risk that that company that issued token backed with gold will scam you. You will have Gold in your hands.

Gold is a natural resource that can not be replenished and as such is limited. Gold will continue to increase in price as the population grows based on the law of supply and demand. Therefore, it is only natural that gold-backed cryptocurrencies experience the same increase in price. These crypto are dependent on gold and will increase when gold does and decreases when gold decreases too.

I was wondering about these 'gold-backed' coins, I never give a damn about it coz I never believe they really have gold to back their coins, I mean if there is then it is a stable coin which is futile to invest into. True, you could have just bought a gold and keep it to yourself, you don't need intermediaries when having gold it is better to have it on your hands. If you want gold in digital form, bitcoin is winking at you right now lol

Gold had an impressive run. Moving an asset upwards as big as gold is a huge success. I remember not so long ago (few years back) gold's market cap was $7 trillion, what is it now? In March it was ~$9T (https://www.coindesk.com/bitcoin-and-gold-evaluating-hard-cap-currencies-in-times-of-financial-crisis), it is probably now closer to $10T now.

I'd say It would keep climbing till we go back to normal.*

*By "normal" I mean before Covid19. December 2019 and before. Probably won't happen.

its really good to invest on gold nowadays..I am seeing lots of people interested in selling gold but i prefer to buy for my investment..and ofcourse I will continue to do cryptocurrency as this is a good investment too.

It is still a prediction and that prediction maybe right but when it comes to inflation rate I guess it is much faster tha ln the bullish thing predicted with gold. Inflation rate is always high and this is why we experience buying basic commodities too expensive.

Here in our place if then oil company can make a high increase in just a short period of time and if this happen other commodities too will increase this because most of the products depend on the oil company like most are doing transportation of products from one place to another.

And if it really happen that gold will make an increase cryptocurrency with back up gold will likely to make a increase too.

your just in time because if many people sells gold that means gold will dump in price  while you , you can score more gold for a friendly price .

 we dont need to be discourage if we see many people sell gold but there could be a different reason why they do that . it can be that they got interested on crypto but they dont have funds yet so they sell gold for a while

It is not just that they are intending to scam you. Anything can happen. They can make some bad investment and to pay debts debtor takes "your" gold. Or they get robbed. Or ...  A lot of unneeded additional risk.  If you own apartment or house, where you can safely store your gold it should be no brainier. If you dont own apartment or house you should rather use money there and not buying gold in first place.

I still perceive things that are not the same as the purpose of bitcoin itself, I understand that maybe he wants to invest in gold in the form of metal with the symbol of bitcoin but what is the benefit because investing in gold is just different from what is usually possible in the form of bars, necklaces, bracelets and other.

Bitcoin investing is not the same as investing in gold for two different things and you won't get more of what you do. and it is true that the other colleagues said why not just do it for gold.

Gold is one of the few assets, which has given consistently good returns for the past 100 years or so. But the problem with gold is that it is a long-term asset. It is not suitable for short-term investments. Also, storage of gold is an issue. In order to circumvent this problem, you can go for the paper gold (ETF), but I won't regard them as 100% safe.

Gold doesn't impact bitcoin prices but the same thing impacts both bitcoin and gold. People have to realize this, gold and bitcoin are both store of value stuff and there is no way that people could see them any differently from each other in that sense.

Obviously gold is a much much bigger investment thing in the world, god knows what the marketcap for gold overall is, I am not even sure if we know total supply of gold as a whole between all the gold lost and all the gold not accounted for and so forth but that same thing could be in bitcoin as well, tons of bitcoin has been lost as well. In any case, we are looking at two investments people put money into because they believe fiat will devalue and they want to keep their purchasing power the same so they invest into these two.

Bitcoin is not a token backed by gold. Bitcoin is bitcoin and if some want to call it digital gold that is just that. My point was that I would chose real gold over gold backed tokens. 
Why I am choosing Bitcoin over Gold? Simply because of my speculation that price of Bitcoin will move up much more then Gold in next 10 years.

I won't be surprised if the gold price gone that far in the future. It's a precious metal with a limited stock as after a certain period finding gold will be too difficult.  In the Asian countries each people store the GOLD as treasure. They rarely trade with it.


The coin you referred, is a stable coin, promised to be backed up by real gold,( a coin priced equally as 1 gram of gold). The project is new and we need to wait and see how they performed. I have seen some of the cryptocoins back by precious metal has not performed well in earlier. They were not stable coin though. 

Putting Bitcoin as a safe investment along with gold and silver is laughable. Things that routinely fluctuate 10% or 20% in a day are not safe havens to store wealth.  Gold has thousands of years of history as a (relatively) stable store of value, but bitcoin has barely a decade and it's rife with horrific crashes. There's no way you can make a credible argument that something that volatile can be a safe haven. And to be clear, investing in gold and silver doesn't make you rich, it protects what you already have from inflation (generally speaking). So that's why people call them safe havens. On the whole, they're rather terrible investments though.

Agreed, but I do think Bitcoin's monetary policy lends itself to being a store of value. It just can't be done overnight. This volatile price discovery is theoretically just part of the early adopter phase, for the same reason startup penny stocks can be so volatile. Investors are speculating on a rather binary situation: mass adoption (or capturing major market share)......or failure.

If the first scenario plays out, I could see price plateauing an order of magnitude or two higher than now, with volatility gradually declining as the speculative nature of Bitcoin becomes fully priced in over time.

Gold is still considered a rather volatile asset, easily fluctuating 1-5% in a day (it fell 6% in a day last month). I could see BTC eventually occupying a similar store of value niche and degree of volatility to gold, or certainly silver. It might take decades to get there, and maybe I won't live to see it.

Lots of articles that show Gold price prediction performance, and like the prediction in the opening post it shows that Gold really is
good as a safe investment. That's why big investors like Warren Buffet finally decided to buy Gold. This has become strong evidence
that Gold is indeed a safe investment. And some of the articles I read show Gold is getting popular  in 2020. In my opinion Bitcoin
and land property are another safe investment alternative besides Gold.

Really, are you certain about that?  Have you taken inflation into consideration?  And anyway, I'd say that gold has been a lousy investment since 2011 when it peaked and then started its long, slow decline.  Interestingly enough, from 2011 to present, you could constantly read quotes like this:


....and articles hyping gold's value as a hedge against inflation, and all of the same arguments for gold that goldbugs make whether the market for gold is up or down.  For them, there's never a bad time to buy or a good time to sell.  You know why?  They want to sell you gold.

My advice would be to tune out anyone who makes outrageous predictions about the price of gold (or silver), because those predictions are usually made to keep the name of the person who made the prediction in the news, to keep themselves relevant.

That's highly unlikely, and I'm assuming you're not familiar with Buffett's investing style.  He actually invested in a mining company and not physical gold, and my guess is that he sees value in the business itself rather than being bullish on gold.

Gold and silver in many predictions will go up high, I also got info from some stock players and investors that I know. Seen from gold, which is a safer and more useful investment to avoid inflation, which is quite good. Whereas stable gold coin I pay less attention to it because I prefer real gold for a safe investment, but if I think it will also affect the stable coin, it is the same as USDT with the dollar price.

I think you are a little wrong, you have to put property in place of bitcoin, because after all property is still more desirable than bitcoin,
I corrected:
Unsafe Investments: Stocks / bitcoin / Fiat Money
Safe Investments:  Gold / Silver / Land  Property  :P




So in fact, whether it's gold, silver, bitcoin, or any other commodity, nothing is too good, only those who promote it make the price go up / down depending on the news reported.
and of course keep their names relevant.

Don't even compare shitcoins such as USDT with gold. Gold is being used as a store of value for thousands of years. USDT is a token issued by the Bitfinex exchange, which is pegged to the USD. The USDT can lose its value anytime, if something untoward happens to the Bitfinex exchange. On the other hand, the value of gold is indestructible. As the human population goes up, the per capita availability of gold will decline, and as a result its purchasing power will continue to increase.

Gold really very often affects other currencies, which is why you need to monitor it carefully.

That's cherry picking though. I could also cherry pick and say gold rose 650% between 2001 and 2011. Those are very impressive returns for a decades time, don't you think?

Even though the world is currently controlled by the dollar without an underlying gold as collateral. However, many countries and even the United States themselves realize that gold as the underlying currency printing is a necessity. Without "underlaying" the currency as strong as the dollar will be vulnerable. Evidenced by the subprime mortgage.

The actions of China and Russia to increase their gold reserves are a sign that the United States will return to using gold for the underlying dollar in the future. Although the penetration of the Yuan can be ignored in international trade, the dominance of trade and financing has been dominated by China, but to win the currency warfare and maintain the currency domination of the petrodollar, the steps that America can play are to increase its gold reserves and manipulate the price of gold to increase its value, balanced with the dollar value that has been printed so that the dollar has a foundation. Don't forget that gold is a commodity that is easy and full of manipulation.

As an investment advisor by trade I'm often reading articles about the market and that includes commodities such as gold.  I personally think this guy is completely full of shit and had no idea what he's talking about.  Gold does have solid and important real world uses, physical uses ( example used for jewelry and HDMI cables) that should keep it's value relatively high and stable, but seeing it go up this high is extremely hard to comprehend since we've just recently seen all time highs.  Personally I think this guy is at his all time high, and has no idea what he's talking about.

Gold is literally physical bitcoin. I have never seen a single difference between them except for the fact that gold is regulated heavily whereas bitcoin is not regulated at all. You can send 10 billion dollars worth of bitcoin from any nation to any nation, even from China to USA which is a very very difficult task to do with fiat or gold because of political reasons but when talking about bitcoin you can do it in 30 minutes and not have any problems because you are anonymous.

Whereas if you want to do the same thing with gold, take from one nation to another, it is a bunch of headache and paper work. Aside from that mobility issue, gold and bitcoin are the same things, just a store of value thing where you try to keep your money eroding in value because of inflation.

Gold vs Crypto (Such as Bitcoin) = Crypto has a limited supply but gold is ancient and not that limited like Bitcoins. So do the math. 

Nope it's not, yes they are both highly valuable but bitcoin is only for a moment, one day it is at $10K tomorrow it will be at $9K. People often compare these two assets because they are pricy, but once bitcoin falls down to zero, though it is unlikely to happen, no one will ever speak about it again/

LOL you compare the aspect of gold being a tangible asset to bitcoin, when I wanna send 10 billion dollars I won't send it as gold bars lmao, I'll sell it in a bank then make a transfer to whom I wanna make transaction with, you're taking it very literally. Though transferring a huge amount of money would take several days to complete, if you're a highly classified person/personality that would just take a serious day to be transferred.

You are showing a single advantage of bitcoin to gold's weakness. This is absurd.

Gold is indeed a safe investment ever since from ancient times and even up to the present seeing its price is rising slowly. But bitcoin could be a good investment too particularly if its price suddenly goes to the moon and makes all its investors instantly rich. They are both safe investments for me but the risk for bitcoin and other cryptos is definitely higher compared to gold.

Tbh, anything that gets too much higher in demand due to the fact that it's being seen as a safe haven asset to invest into, but has a very limited supply to serve against that demand, then the value of that thing will definitely rise. Say for example, think that you and me are the very first people who took birth on the earth. We learnt values. You've got food because you're, let's say, a farmer and I've got clothes as I'm (let's assume) a tailor. You live at a place where there's too much winter but you have some reserved food for yourself that can save you from that winter (but not forever). On the other hand, I live in an area where everything remains too hot (summer tbh) and I can't manage any cold food that could cool down my stomach but you have it. What will we do? Trade. You trade your food for the clothes I have and I'll give you clothes for your food. But you have the power here as you can ask for more because you've got something that needs to be consumed daily while a pair of clothes are enough for you to survive, but you'll still take more because either your greed or need will make you do that and I'll even give more clothes to you because I know that food is all I need to survive (we can't eat clothes eh!). But TBVH, I don't think Gold can ever reach $10k (even Jeff Bezos will be worth $1 trillion before Gold reaches $5k).

I don't think the Gold price prediction will have any effect on cryptocurrency. Because both are feasible as investment options this year.
Since the beginning of the year I have even invested in Gold, because Gold has indeed been a safe investment for a long time. So from
that in my opinion it is wrong if someone compares between Gold and Bitcoin, don't compare the two, because they are two different things.
But both are very worth buying this year, for Bitcoin it is a little riskier compared to Gold. But if we analyze deeper and see Bitcoin fundamentals
are getting stronger. There is no reason not to invest in Bitcoin.

Exactly. I would say that the dip during 2012-14 was a small correction after the impressive rise in 2001-11. But we need to admit that gold is also a very volatile asset. Its valuation can go up or down by as much as 50% in a single year. Even this year, the gold price have gone from $1,500 per oz to around $2,100 per oz, before slightly correcting to $1,928 per oz. But all of us can agree that gold will give very good returns in the long term.

I mean, there is always a chance for such thing to happen in this unpredictable world.
However, my inner analytical sense tells me that gold is a thing that could hit $1k per gram in 5-7 years and history clearly shows us that gold's growth is stable, but the pace is not as fast as crypto's for instance

Sure, when there's too much money, people buy finite assets like real estate, gold, Bitcoin, and blue-chip stocks.
Can anyone know how much extra money they'll print next year?
Hoarding finite assets is a smart investment, good anti-inflation, and stable value increase.

Well it has its ups and downs so we can't really say that it is a safe investment. There are a lot of factors that could affect gold, even the pandemic affected its price. Bitcoin may dump at that time but we never know. During the pandemic btc went up to $10K, dropped to almost $4K then stabilize and went up to $11K then went back to now $10K. Bitcoin is already a good investment, it is volatile, yeah but within these changes it gave me some good profits, gold can't do that.

The gold price will continue to rise as long as women like it, and people use it as a symbol for love, marriage, and wealth. Regarding the impact on crypto, of course there is, because some people (a very small group) consider both as substitute goods. The question is whether it will be significant or not. IMO it won't be significant.

Inflation lowers a country's economy a lot the gold market usually depends on the country's economy when the economy goes down the gold market goes down a lot. But it has no effect on crypto is decentralized and has nothing to do with economics Bitcoin investment is better than gold. Bitcoin is not under the control of the government. As the gold market applies to Fiat currency the government now pays tax subsidies. The safest investment in Bitcoin is to make a profit when the price rises.

There is no one who don't know to gold, although the price always increasing there will be many people who still buying it, that's is the power of gold. Yeah, I just hope it will continue until whenever. So as bitcoin will be considered as a digital gold by most people. I know a few months ago gold has touch its new all time high and also bitcoin touch $12.000 for the second time after slumped down form its all time high. And I just guessing if the investor gold have invested as well in bitcoin.

I agree with you, people are more familiar in Gold than bitcoin. So, if they invest, probably they will choose gold which is tangible, valuable  and already exist long time ago. But i believe wise investors will invest both in gold and bitcoin which is also known as digital gold.

I still think that classic investors will not touch cryptocurrencies if they choose between them and gold simply because gold is valuable in itself, while the price of btc depends only on the demand for it and its popularity (and speculation).
Even if you imagine an apocalyptic version of the development of history, you will be able to pay with gold at least somehow but not with btc (unfortunately)

That's where most of gold's value is derived from too. Only a very small part of gold's market (~10%) can be attributed to actual industrial or medical uses, what you might consider inelastic demand. It's mostly used for value storage, jewelry (which largely falls under value storage), and speculation.


Maybe right now, but 2-3 decades from now? I'm not sure. Before long, apocalyptic versions of history will include peer-to-peer mesh networks and other technologies that will sustain Bitcoin.

Every thing is valued based on demand and supply, silver could have been more valuable than gold if most of people demands a lot of silver than gold, but the only thing is gold is more rare than silver. It is same with bitcoin, the difference is that its core pricing is speculation. If bitcoin would be adopted in the future, the price of it will skyrocket as people will choose to have it for convenient in  paying online.

The time is running, world is progressing, and you can't predict the future. All that happens now will just be a history.

It is not, please dont put that thought in your head.

A difference is asset class and you have not seen it already?

I dont think you have the idea of mobility of gold? It has a higher resell value than any other asset, fiat for example or other precious metals.

Mistaken here, bitcoin does have a lot of consequences that can follow depending upon the regulation. You have to "sell" it somewhere. That means an exchange and exchange means you have to undergo somewhat a KYC for being able to trade.

Is doing a KYC on an exchange not a headache and paperwork?

Beg to differ a lot here. These two are different asset classes. Gold has a higher value of being able to be sold and a store a value than bitcoin unless in future bitcoin becomes a legally acceptable and easily trade-able asset.

As for a long-term investment? Gold is really the best and suitable for it.

You don't need to make it move in the market, you don't need to buy and sell when it is necessary. It is really far different from cryptocurrencies that should be utilized depending on the market. Bitcoin, ETH, DEX and etc, are for a short-term investments where you can make profits once you buy and sell and make transactions in the right time.

I really want to invest in both, so that i can learn the two and it will surely improve my mindset towards investments.c 

Gold and other minerals are being consumed and probably, only a few will left that's the reason why the gold prices will become profitable soon.

Every day, gold is one of the resources that are being consumed in electronic products, jewelry, and medicines so there's a chance that it'll outplay cryptocurrency's value soon.

But I guess this gold is nothing to do with cryptocurrency since they have different features and purposes so it will cause less impact on crypto. Both of them have potential in the market but the only difference, gold is less risky than cryptocurrency.

Gold is already there since the start and it is already valuable before Cyptocurrency was created. Gold is precious and it's value is really high but despite of this ,it doesn't have impact to crypto currency because they have different features ,use and demand although they have both limited supply that one reason makes it's value increasing.

My position is that gold (and any other precious metal) is valuable in itself, not only because they were chosen long ago as a material for minting coins.
Any precious metal has quite a practical application. You can find it in any kind of electronics. This is a physical object that has many different purposes and hence its usefulness.
BTC (let's be honest) exists OUTSIDE of the real world and it has no other application other than the conventional acceptance of it as the equivalent of the price. That's what I'm talking about.

Have you ever wondered why metals are used for savings? Yes, because it is a PHYSICAL object with which nothing will happen and which is independent of electricity, the Internet and the blockchain.

In this scenario, people will not be able to raise networks to support the use of cryptocurrencies as much as possible. Even if you recall one of the popular games on this topic - Fallout - then there are used as money caps from Cola, and not some electronic money (despite wide usage of electricity). Providing a communication system and the Internet in the case of post apocalypse is the most non-trivial and rather useless task in terms of survival.

Though there might be other Gold mining places in existence the problem is those are not being founded and maybe not in the near future so
yeah Gold will grow in value sooner,Like what bitcoin will be
in the next years to come.
The demand of Gold is increasing day by day but i believe Bitcoin also has the same though because this is a Volatile
 market it has been played by Whales.
That is what exactly the fact,why they are both being compared when the truth is they have own market and own believers .

In theory, the artificial scarcity should help rather than hurt the price, but there are a couple of caveats to consider.  For one, plenty of things are scarce and not valuable, so scarcity itself doesn't equal an ability to be valuable or hold value.  Value has to come from somewhere else, like utility.  On that front, there are plenty of cryptos that are more useful than Bitcoin (faster, cheaper, etc.).  Pretty much the only thing Bitcoin has going for it is first mover advantage and inertia.  I don't see Bitcoin ever reaching the kind of mass adoption you're envisioning because on just about every functional utility criteria you can measure it against, there's another crypto that does it better.  For these reasons, I never see Bitcoin entering a phase of price stability necessary for it to be a long term store of value.

You're misreading the situation.  Warren Buffet hasn't bought gold.  Warren Buffet has a long history of speaking on the record of what he thinks of gold as an investment, and he thinks it's trash.  Buffet bought a stake in a gold mining company.  He's not interested in the gold they produce, he's interested in the cash flow the mining operations produce because he feels the business is undervalued based on the fundamentals of the business.

Buffet is a value investor. He buys businesses that produce cash flow when the current value of the business is lower than the expected future cash flows the business will generate. Since bitcoin and gold are not a business and do not produce cash flow, Buffet isn't interested in trying to value them and it's the reason he will never own them.

I am not entirely sure if the world is moving towards something better for us or better for richer wealthy people which does really have an impact on gold and crypto. First of all the super wealthy will not care about crypto if there is even a bigger wealth gap, I mean cartoon levels of gap, so that is gone, gold is something they already deal with and they will try to get all of it obviously but after a while there will be none left, all will be in their vaults.

So, that means as long as capitalism continues to hurt the poor people and let them to die and just tells them to keep grinding (like that works, people have 3 jobs to survive, do not tell them to grind) and meanwhile steal money from the poor via legal means we will not really see neither gold nor crypto to go super high after a while, eventually they will stop.

I don't think the price of gold influences the price of Bitcoin.
Both act due to the supply and demand of the market. It is interesting how Bitcoin has been compared to a currency, a commodity in relation to gold. What makes us show that Bitcoin is of interest to investors due to the benefits that are obtained when making their transactions.

https://www.google.com/amp/s/cointelegraph.com/news/new-data-suggests-bitcoin-and-gold-arent-as-correlated-as-you-think/amp (https://www.google.com/amp/s/cointelegraph.com/news/new-data-suggests-bitcoin-and-gold-arent-as-correlated-as-you-think/amp)

When a cryptocurrency is backed by Gold, I think that it should be worth the same price which Gold have/will have in the future. And to reach that price, gold will need too much money to be poured in it by the investors to let it take off. Instead, I see it going inverse and getting crashed a bit. The aggregate value of gold is much less compared to what we see in the markets, but the demand after covid-19 surged for gold and that is the only source for Gold to remain high.

Traders who invest in gold are no longer dealing with a physical object. For such investors, gold has long been a digital currency, which is expressed in numbers on the monitor screen. Although everyone understands that this digital asset cannot be exchanged for physical gold.

That is not always the case, I know some friends of my parents who are older and they all store real gold at a deposit in a bank. Among the elderly population it's pretty common to invest in physical gold, they just don't trust financial derivatives that mirror the gold price. In my opinion the motivation to buy gold is very similar to buy cryptos. Investors want security which they can't find in the traditional assets like stocks and bonds.

Over the long term the price of gold should always go up, after all even if gold is mined every year the rate at which this happens is lower than the rate at which governments print their fiat currencies, however the speed at which this happens is very slow compared to bitcoin so anyone thinking about investing in gold should think about doing so over at least a decade and even that amount of time could not be enough to see any results if paper assets perform well during that time.

In this corona,some hidden money had play a vital role.And it's one of the cause of the rise of demand of the gold.Secondly many marriages was get into action and increase the demand of gold in the market.The gold merchant made a statement of,the demand is high and we can't get gold to corona.Like this the price of gold reached the new high price.

So this is not surprising. I would buy physical gold myself if I didn't constantly ride around the cities of my country - it's just physically more pleasant to have metal bars at home than some numbers on a metal account/in cryptocurrency. In addition, in the case of any global financial crisis I will be able use this gold either for direct payment (since gold is a soft metal and it will not be difficult for me to divide it into the number of parts I need) or as technical assistance for something (less likely outcome of events, but still).

Physical gold - for those who are in no hurry and have a permanent home. And as we know, a person's home is his fortress (which I myself am gradually striving for).

It makes me a little sad, to be honest. Even the precious metal that laid the Foundation for stable economic relations "goods-money-goods" turned into bytes of information and nothing more. I certainly understand that this is progress and so much more convenient (in General) but still somehow it's a shame that even such things are digitalized.
I may be wrong, but I think some things should be left unchanged.

What Hidden money are you talking about here mate?who has the hidden money and how did they affect the crypto market?
and many marriage happens?people has no money now so why need to prioritize marriage when they need Money to survive?
i don't think your idea is appropriate in this thread,No offense.

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Gold has its own market same as Crypto so it is irrelevant to compare them both.

Lol.. what is the relation between the number of marriages and gold price? Even if there is some relation, how can you claim that the number of marriages are increasing now? At this time, the number of marriages should actually go down, due to lockdowns and other restrictions. So if your theory is correctm then the gold prices should decline now, right?

This should not be a cause for frustration. For people like you, it is still possible to buy gold in Bank bars or jewelry. But you must remember that such purchases become profitable only for the long term. Otherwise, the Bank's commission will only bring a loss from such a purchase/sale of gold.

Profit, even if you hold your gold bars or gold jewelries is not assured, though it's not guaranteed, yes time really matter for commodity investments like gold, but it is not always assured, as you will remember, Musks is planning to mine gold on an asteroid, if that happened, the supply of gold on our planet will be enormous making a massive drop to it's value.

But if that didn't happened, expect gold's value to go higher as years pass.

Gold had a significant value since time immemorial and I think it will continue to have value in the future.  Gold is one of the daily necessities of human life so we can expect gold price will be rising in the future.

If you’re referring to cryptocurrencies that are backed by gold, I don’t see the difference, because holding a cryptocurrency that is said to be backed by gold is the same as holding gold; the token that is being given to you as an investor is a like a receipt or proof to show that you own a share in whatever possession of gold the company holds. So, when the price of gold is going up these ones will go up as well. Unless you’re referring to other cryptocurrencies like Bitcoin.

Although Bitcoin has been said to have a correlation with gold, by some people who also call it digital gold, I don’t believe such thing because from what I have seen the both of them only show such correlation when there are crisis that generally affects the market.

I don't agree. In case of cryptocurrencies that are backed up by fiat currency or gold (there are quite a few of them in the market), the money is being held by someone else, and you are only holding a token. This goes against the original idea of cryptocurrency as proposed by Satoshi Nakamoto. By holding these tokens, you are not holding the real gold or fiat. Someone else claim that they are holding these assets for you. And there is nothing that you can so, if they vanish all of a sudden with all the funds.

There's no pressure among gold and bitcoins. Since bitcoin is decentralized and its gracefully is high.
Gold may begin expanding its rate however it can't outperform the bitcoins or any cryptocurrencies.
Anyways I don't think gold can be increment that much even bitcoin can't reach on such rate and we know its decentralized.

I have a couple of bars that I bought a long time ago - and I'm not going to sell them until the very severe days.
This is my most solid reserve of all, and I have never regretted that I bought "physical" gold instead of opening a metal account or just buying virtual gold.

Gold bars are too expensive nowadays, what I have is gold jewelries. For years that im collecting gold, I can say that the price is really going up as time goes by though little by little. Now the value of my accessories if I sell at the current price is really worth it. I have gold and bitcoin (virtual gold) as an asset.

If the price of gold rises in the international market, it will have an effect on the country's market this is one of the reasons for the rise in gold prices in the local market. If the dollar price rises a lot in the international market the price of gold goes down. It is also seen that when the price of dollar goes down the price of gold goes up. But its impact on crypto is rare as crypto has nothing to do with the country's economy so it is good for long-term investment.

The problem with precious jewelry is that there will always be scoundrel appraisers who will try to dump the price of your jewelry to the maximum possible price. There are fewer such problems with gold, because if you buy it from a bank and just store (without even opening it) there will be too little reason to reduce the price of the bullion to worry about them.

I have heard of those things before and while it is nice to hear we need to be honest that is not going to happen anytime soon, I think that gold will probably remain scarce for the next century or two but once we can mine in space then you will be right and the scarcity of gold will drop to the floor, this is why something like bitcoin is important, we need to create artificial scarcity and bitcoin is perfect for that which is the reason it has such a bright long term future and it even surpasses gold in its potential.

I won't be surprised if bitcoin reaches 20K in the next movements but $300+ per gram of gold looks unbelievable and it may take decades to reach even though people consider gold as safe heaven of all assets in the world.Demand for gold is always there and it is same as before even in the economic crash condition.

We dont control the tides, its a lesson every man must learn to be humble and accept what he can control and what will always exist repeating with or without him.   The FED is already out of control, we're really speculating on what already happened and how it will appear in pricing but its certain they cannot put the genie back in the lamp here.     The FED giant as it may be cannot control the tides, we are in a situation now where most believe FED and other central banks limitless in their powers but unfortunately they are not.   I say unfortunate because the world finding out the truth and handling that misstep we've all taken is going to make me poorer and every country poorer related to the dollar  reliant on FED actions and similarly the global reserve system will revoke its bias to just one national currency and other effects.   Its a big deal probably one of the largest stories within the span of my life time, I dont think we'll be in the same place fifty years from now and if that were true we'd be poorer then just failing now and rebuilding from that realised mistake.

Gold isnt going to the moon or to 5k, we are talking about the dollar losing value or being recognised for the lower value it will have and does have after dilution.   Its not the gold which alters but the dollar which already has, price is a market that can be delayed or deceptive in its reaction but it'll reflect reality of that situation just like every other currency that lost value previously even when it was part of an empire.    The timing of when this happens and how is more convoluted, I think gold price can still 'lose' 50% possibly, volatility is certain and prices will show this as they result from bids and offers and they wont always be even.   The appreciation of gold relies on it being more reliable then the other side of the ratio which is dollar, similarly for BTC if it should be more reliable it'll likely appreciate nominally even if the value were to stay the same.

It's true that gold and bitcoin are unlikely to be affecting each other's prices, but they are correlated in that there is a decent amount of people using bitcoin as a hedge against inflation, as gold is traditionally used. In that sense, you can expect larger macro trends in the economy that affect the price of gold to impact bitcoin in the same way (to a limited extent).

the price of gold per day has increased quite significantly and reportedly in my area, many people are selling their gold. moreover, the new year is near.

btw, the FTX collapse made the crypto market fluctuate, and this moment was used by the braggart Peter Schiff to attack crypto lovers.

https://i.imgur.com/Qz12S4N.png

https://i.imgur.com/3AsNLMv.png

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https://twitter.com/PeterSchiff/status/1592175901546274816
https://twitter.com/PeterSchiff/status/1592315625476882434

I do not believe in a rapid rise in the prices of gold and silver in the short term.  

At the same time, from a fundamental point of view, the growth in the price of gold, silver, platinum and palladium is justified.  However, all these metals have not only a monetary function, they are also actively used in industry, in particular, in the production of microelectronics.  No one is interested in rising prices for processors and slowing down scientific and technological progress.

In addition, the main exporters of precious metals are Iran and Russia, which are under sanctions.  Western countries are not interested in increasing foreign exchange earnings and capitalization of the gold and foreign exchange reserves of the Central Banks of these countries.

In addition, gold is a direct competitor to the US dollar.  The rise in the price of gold weakens the authority of the US dollar.

All these circumstances hinder the growth of gold prices in the short term.