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Title: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: bitmover on February 17, 2021, 06:17:09 PM I saw this interesting tweet today.
https://i.postimg.cc/zBSXtLvM/image.png source: https://twitter.com/Schuldensuehner/status/1361944837742874631 As we can see, GOLD price is dropping the last 6 months (-10%), while Bitcoin is doing really well (-317%). Some of the gold market cap might be moving to BTC. https://i.postimg.cc/50tLSmKj/image.png Would it be an interesting idea to take some profits from BTC recent gains and buy some gold? Gold is the oldest asset I know of, and it will certainly hold value over the next years to come. I am still accumulating BTC, but to accumulate some Gold is always a good idea. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: jackg on February 17, 2021, 06:29:29 PM Tbh I prefer platinum but gold has a value in history (and then less of a value if you drop murcury on it 😁).
I was thinking of making a thread recently as in the last cycle, a friend sent me a message of bitcoin surpassing an ounce of gold and were now almost at a kilogram. Gold saw quite a dramatic bull run though. When I first looked at buying some I think 100g in 2015 was a lot lower. It mightve been pushed up because of negative interest rates too (or no interest) and people needing a hedge. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: aoluain on February 17, 2021, 07:29:24 PM I have been talking just at the weekend to a BTC friend about
taking profits and maybe buy Gold and Property but we were aiming for later in the year when [hopefully/potentially] that Gold/Bitcoin gap will be even wider. If you listen to Michael Saylor, Bitcoin is really the only store of value, its really hard to know what to do, is there going to be a correction like 2017/2018? will we actually need to diversify into Metals or Property? Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: dkbit98 on February 17, 2021, 07:45:11 PM Would it be an interesting idea to take some profits from BTC recent gains and buy some gold? Gold is the oldest asset I know of, and it will certainly hold value over the next years to come. I am still accumulating BTC, but to accumulate some Gold is always a good idea. I am following Gold in comparison with Bitcoin for few years and currently we can get 29.1 XAU for 1 Bitoin, but I am sure that Gold price is heavily manipulated and underrated compared with fiat currencies. Peter Schiff would love to see you buy some of is beloved gold and he would try to tell you how bad bitcoin is :) Having some gold is not a bad idea at all but keep in mind that holding it may not always be free and you need to pay some fee, and I see that Michael Saylor is saying that gold peaked in 2020 and that Bitcoin is superior asset now. Gold market cap is still huge with over $11.25 Trillions but we are slowly going there with Bitcoin and I am expecting big changes in next few years. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: ChiBitCTy on February 17, 2021, 07:53:53 PM Like I tell my clients everyday all day long, diversification is key and what it's all about. Lets keep in mind that gold is still towards it's all time high and that it really isn't an asset that is meant for growth. I think anyone with a sound portfolio that has the means to be able to afford some silver and gold certainly should ( physical, do not buy Mutual Funds/ETFs etc).. but bitcoin is a growth story like no other, so if you do buy gold with it, don't expect a ton of upside.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Xavofat on February 17, 2021, 08:11:20 PM I don't think there's a strong connection. The historical value of gold derives from its physical properties including:
1. The fact that it is the least reactive metal. It can be kept in storage for thousands of years and never rust. 2. The fact that it is appropriately scarce. Storing the right amount of value in other metals (excluding silver, which is also traded as a store of value), is difficult. 3. The fact that it is shiny and beautiful, it's a show of wealth like in jewellery. Those intrinsic aspects of gold will remain and so its value will never be very low. Unlike gold, Bitcoin is easily replicable in the form of altcoins, but these generally do not get much traction unless they are hugely different to Bitcoin, so it has value in its scarcity and security. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Hydrogen on February 17, 2021, 11:23:14 PM A big part of the reason gold is considered one of the best recession performing assets, is due to it having many real world applications in industry.
Gold is commonly utilized in electronics components, aerospace and for various industrial processes similar to rare earth minerals and other scarce assets. One example of this is the degree to which gold can be scavenged from scrap metal and components people commonly dispose of in their trash: https://www.youtube.com/watch?v=5MYomuvrry4 Gold Recycle from scrap components electronics. connectors Electronic circuit Boards computer parts. I think the above describes areas where gold is strong. Gold needs a reboot and makeover for it to reach its profit potential post 2000. It needs to become more convenient and accessible. In a way that appeals more to younger generations. A high percentage of gold and precious metals investors are boomers who are middle aged and older. Gold and precious metals don't have age demographic support among millennials or younger generations, the way cryptocurrencies do. Perhaps one of many significant obstacles gold must overcome if its to improve its standing. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Darker45 on February 18, 2021, 01:35:41 AM Personally, I would. It doesn't hurt to trim down a bit on Bitcoin's profit and diversify it to precious metals. While there are speculations of space mining and all, I guess it won't happen anytime soon. And gold would definitely stay precious for the next several decades. For me, it is still a wise decision to buy gold, silver, platinum, and so on during their respective dips. In fact, precious stones could also be added to your portfolio if you have a vast amount of wealth. Having several baskets is always better than having only one.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: South Park on February 18, 2021, 03:05:15 AM I have been talking just at the weekend to a BTC friend about Except for those that have been holding bitcoin for a very long time I think the most common plan for those that are holding bitcoin is to hold their coins for long enough to exchange their bitcoins so they can buy real estate, but it is too soon for that, for the average person their home is probably where they have their biggest investment but so far that market has not gone down enough, you need to wait until things get so bad that a lot of people begin to sell their homes and the price of bitcoin is skyrocketing, that would be the perfect time to get as much real estate for your bitcoin as you can, I do not know when that will happen but that it is an a scenario that I'm waiting for.taking profits and maybe buy Gold and Property but we were aiming for later in the year when [hopefully/potentially] that Gold/Bitcoin gap will be even wider. If you listen to Michael Saylor, Bitcoin is really the only store of value, its really hard to know what to do, is there going to be a correction like 2017/2018? will we actually need to diversify into Metals or Property? Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: crwth on February 18, 2021, 03:16:19 AM Surely enough, it would be great to diversify your assets as long as you can do so. If you were ever available to buy from your BTC Gains, you should. Remember that if it receives a lower high, you can never go wrong to average your entry point as well there. If you are going to profit from it, it's a great time now to buy.
I think we can be safe to assume that Gold is a safe asset and not fiat. Your money should be an asset instead of a fiat. Inflation hurts for sure. Additionally, I like how Hydrogen included the recycling of Gold because everywhere you can see the practical applications in it with our technology. When the technology improves and moves to a more sustainable area, the research aims to lower manufacturing costs. Gold would be less used to the application and probably put into Gold reserves, hence a great asset. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: amishmanish on February 18, 2021, 04:07:31 AM This makes me wonder if possible Gold devaluation is one of the reasons that the Indian Govt is getting so proactive about small retail investors making money through crypto in India?!!
You see Gold is seen as a big motivator for savings as well as spending in India. A huge percentage of the population is young and digitally active. If the concept of bitcoin as digital gold catches up, Gold may lose its dominant role and cost for the population. Cryptocurrecies and the accompanying innovations also make people way more spartan with respect to their savings and investments. Majority of Indians prefer staying in safe Govt issued instruments and put money in Govt owned banks. All of that could possibly change with Bitcoin. Instead of letting innovation and good business drive growth in the sector, the reactionary and conservative policymakers are resorting to moves like banning all cryptos. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: jrrsparkles on February 18, 2021, 02:58:08 PM Investing on Gold is always a good idea and why not you too invest on it? It is mandatory to hold few hundred grams of Gold in or savings all the time for emergency needs when nothing is liquidated as Gold. I guess some of the rich people are moving to BTC from Gold that is why the price is dropping but still gold remains in the top of total marketcap and it deserves it.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: buwaytress on February 18, 2021, 03:28:46 PM Well, the last time Bitcoin "ate" gold in 2019, using the very same dataset from the chart shared, gold then proceeded to trump Bitcoin for the majority of that time since -- until today. That's a good year and a half of gains, so sounds perfectly legitimate rationale for a trader who believes in at least one cyclical repeat.
But if we believe Bitcoin's entering a new era now, it's hard to see another repeat performance. Which means the narrative hasn't changed for Bitcoin or gold people -- so I don't see a lot of Bitcoin people switching over. Institutionals might view it as a hedging opportunity though. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: oHnK on February 18, 2021, 03:37:42 PM If you look at the development of the number of people investing in Bitcoin at this time, I think it's only natural that BTC eats gold. Major companies openly display their recent investments in BTC. While gold does not develop just as usual and considers itself the safest asset because it is recognized by everyone. However, gold has low price volatility so it will be very possible for BTC to surpass it even though I think it is still very early to declare BTC safer than gold.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Mauser on February 18, 2021, 03:58:42 PM A little bit of Gold can never be wrong in your portfolio. Diversification is the best way to protect our portfolios from dropping too hard in a downturn. I am holding a small part of my portfolio in a commodity fund that mainly buys Silver and Gold. When the big bang is going to happen I hope they will go up in value. However the upside is fairly limited in Gold in my opinion. If Gold would go up 20% this would be huge, but seeing Gold go up 100% or 200% like bitcoins seems very unrealistic. I would prefer crypto currencies just because the upside potential is so much bigger.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: avikz on February 18, 2021, 07:35:11 PM Would it be an interesting idea to take some profits from BTC recent gains and buy some gold? Gold is the oldest asset I know of, and it will certainly hold value over the next years to come. I am still accumulating BTC, but to accumulate some Gold is always a good idea. Investing in gold is always a good idea from the perspective of capital protection. People who usually wants to avoid risk but have a inflation proof portfolio, always invests in Gold. I personally have not seen any downfall in investing in gold at all and it is a must have in anyone's portfolio. If you are accumulating bitcoin, no harm in it. But you need to understand that bitcoin's price is super volatile. Today's ATH can't guarantee that bitcoin will hold onto this price level tomorrow. So for common investors, bitcoin is a very risky proposition. While gold is relatively stable and it's acceptance is really high around the world. Nowadays, investing in gold has become very easy with the introduction of paper gold. You invest according to your capacity and you sell from the comfort of your home. Around 10% of my monthly investment goes into such paper gold and I have the choice of either holding that paper gold or get delivery of the physical gold whenever needed! Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: DoublerHunter on February 18, 2021, 08:32:20 PM A little bit of Gold can never be wrong in your portfolio. Diversification is the best way to protect our portfolios from dropping too hard in a downturn. I am holding a small part of my portfolio in a commodity fund that mainly buys Silver and Gold. When the big bang is going to happen I hope they will go up in value. However the upside is fairly limited in Gold in my opinion. If Gold would go up 20% this would be huge, but seeing Gold go up 100% or 200% like bitcoins seems very unrealistic. I would prefer crypto currencies just because the upside potential is so much bigger. ^ Investing in gold and investing in BTC is might a good idea as well, everything is good for me if you are talking about investing is sounds good either that is crypto or gold. If you can invest in both of them, why not? They had the same movement but I think BTC is easy to gain profit than gold because BTC is become very expensive, even if you will buy. Nevertheless, all of these are temporary, because we know that someday, gold was hold in a passion.Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: el kaka22 on February 19, 2021, 10:10:23 AM This makes me wonder if possible Gold devaluation is one of the reasons that the Indian Govt is getting so proactive about small retail investors making money through crypto in India?!! Gold is not really dropping in just one nation, it is dropping in all nations right now, and the fact is that bitcoin is doing a lot better than anything else scares governments because people may not need them. Think about a nation that has citizens that doesn't use that nations currency, main thing they use is crypto, and they do pay their taxes they do nothing illegal, but they just refuse to use that nations fiat, in the nation itself, wouldn't that make nations currency worthless?You see Gold is seen as a big motivator for savings as well as spending in India. A huge percentage of the population is young and digitally active. If the concept of bitcoin as digital gold catches up, Gold may lose its dominant role and cost for the population. Cryptocurrecies and the accompanying innovations also make people way more spartan with respect to their savings and investments. Majority of Indians prefer staying in safe Govt issued instruments and put money in Govt owned banks. All of that could possibly change with Bitcoin. Instead of letting innovation and good business drive growth in the sector, the reactionary and conservative policymakers are resorting to moves like banning all cryptos. I mean what is the point of a fiat currency if nobody uses it? Of course it could never be as severe as nobody uses it, but the reality is that we are in a situation where more and more people uses crypto and that means less and less people use fiat which makes fiat a lot less valuable. That is the main reason governments are against it, or at least the ones that are against it. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Lorence.xD on February 19, 2021, 10:21:04 AM Tbh I prefer platinum but gold has a value in history (and then less of a value if you drop murcury on it 😁). Hard to find a market for platinum and street value isn't really known in my country but gold and silver are some of the big ones in my country. I think that this is an opportunity to buy gold now that its bull run is over the prices is slumping back, the prices will definitely go up someday and I think that anyone who passes the opportunity to buy one now is a fool.Gold saw quite a dramatic bull run though. When I first looked at buying some I think 100g in 2015 was a lot lower. It mightve been pushed up because of negative interest rates too (or no interest) and people needing a hedge. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: ivankoh on February 19, 2021, 11:51:22 AM I saw this interesting tweet today. That is one of your options. Looks like comparison is misleading. https://i.postimg.cc/zBSXtLvM/image.png source: https://twitter.com/Schuldensuehner/status/1361944837742874631 https://i.postimg.cc/50tLSmKj/image.png I am still accumulating BTC, but to accumulate some Gold is always a good idea. because in my opinion, in economics, bitcoin is defined as an asset that represents tangible core intelligence. Gold is a traditional existing asset. The emotional order and the frequency of dependence are different. You buy gold and send it at the bank? I don't think so if you have a better space to keep it as safe as bitcoin - And you can customize it to be used as you like. ;) Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: LeGaulois on February 19, 2021, 12:46:08 PM Comparing Bitcoin and Gold yeah, the gold's price dropped a bit since the last months but for the long term gold is still performing nicely.
I bought gold and silver some days ago (and physical, not paper gold haha). I should have waited a bit since I paid it with bitcoins and the price seems to be going up (I don't look at the price of bitcoin every day). I'll probably buy some more in the next month to decrease a bit the purchase cost. It wasn't really to make a profit, I mean I'm fine if I don't make any because it's not what I was looking for. Rather for diversity and the safe haven benefit. I plan to keep it for about 5-10 years. I'm not in my twenties so I can't have the same portfolio and take the same risks. If I was looking for an asset with a performance I would have taken something else. This is what I mean https://i.imgur.com/HVrFyGw.jpg source (https://bitcointalk.org/index.php?topic=5176101.msg56378138#msg56378138) Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Nunoluck on February 19, 2021, 12:47:38 PM It is a good time to buy gold, the price is tend to rise. But I want to wait until gold price reach the lowest level. Storing gold is not as easy as storing bitcoin so my first priority is still bitcoin. I don't want to miss this good market condition. I am not sure that gold investors sell their gold to buy bitcoin because it so unbelievable. Maybe gold investment is too safe for them so they want to get involved in bitcoin investment that the risk is very big.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Oshosondy on February 19, 2021, 01:35:53 PM I am not sure that gold investors sell their gold to buy bitcoin because it so unbelievable. Maybe gold investment is too safe for them so they want to get involved in bitcoin investment that the risk is very big. Gold with over 10 trillion marketcap while bitcoin with $900 billion marketcap, I do not think it is the appropriate time to say bitcoin is eating up gold because gold is still far stronger than bitcoin. About bitcoin being risky, you should know that in some centuries ago, gold was also volatile, while the price was not strong unlike now, the investors especially the institutions have seen value in bitcoin, that it will be the future asset that may surpass gold, which means bitcoin is still at its early stage, while taking the opportunity now to secure the future as the marketcap and price of bitcoin will be increasing. As the marketcap will be increasing, bitcoin will be more safe and strong, but as you say bitcoin is not as safe as gold, I believe the volatility will make you make such statements, only those that are not passionate about bitcoin can lose because they sell their bitcoin when the marketcap is reducing, while the marketcap still later increase beyond what is expected. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: stompix on February 19, 2021, 02:03:36 PM Gold with over 10 trillion marketcap while bitcoin with $900 billion marketcap, I do not think it is the appropriate time to say bitcoin is eating up gold because gold is still far stronger than bitcoin.As the marketcap will be increasing, bitcoin will be more safe and strong, Why would care about this so-called "market cap" when analyzing the two, does that mean that you only invest in the top 10 largest companies listed on the stock market and the rest are garbage? As for the safer part, wasn't bitcoin safe five years ago or two years ago at 300$ and 6000$? I don't understand this fixation people have with comparing bitcoin and gold, one was around for thousands of years, you can't expect its value to shoot up by 100x and if that would happen we would be probably in a mess no gold or silver or crypto would be able to pull us out of it. Bitcoin it's at the beginning of its life, it's normal for it to grow x10 x5 but at one point it will find its level and from there on you can compare the evolution of the two and how they perform during different world events. Has bitcoin clearly outperformed any gold investment over a longer period, yes undoubtedly, but will it prove to be a store of value as safe as gold once it matures? Time will tell and probably too few of us will be around to say it for sure it had so. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: bitbollo on February 19, 2021, 02:10:37 PM gold isn't easy to store/ trade / buy or sell. I am not sure it's easy as investment and there is not only a transaction fee but also a shipment fee or a custodial fee. I will continue to invest in bitcoin since it's more easy to trade (and manage).
Probably thanks to early appearance on the market, more surprises will come on the next years, and we have just seen a small part of this technology. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: oHnK on February 19, 2021, 02:58:28 PM gold isn't easy to store/ trade / buy or sell. I am not sure it's easy as investment and there is not only a transaction fee but also a shipment fee or a custodial fee. I will continue to invest in bitcoin since it's more easy to trade (and manage). Probably thanks to early appearance on the market, more surprises will come on the next years, and we have just seen a small part of this technology. This convenience is what makes people prefer Bitcoin and think of it as the digital version of Gold. But anything that is too liquid is very risky. At any time, the gains and losses can be dramatic. I am grateful that I got the opportunity to get to know Crypto and this is the real proof. Already many people are rich because of this. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: whyrqa on February 19, 2021, 03:40:45 PM gold isn't easy to store/ trade / buy or sell. I am not sure it's easy as investment and there is not only a transaction fee but also a shipment fee or a custodial fee. I will continue to invest in bitcoin since it's more easy to trade (and manage). Probably thanks to early appearance on the market, more surprises will come on the next years, and we have just seen a small part of this technology. This convenience is what makes people prefer Bitcoin and think of it as the digital version of Gold. But anything that is too liquid is very risky. At any time, the gains and losses can be dramatic. I am grateful that I got the opportunity to get to know Crypto and this is the real proof. Already many people are rich because of this. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: darewaller on February 19, 2021, 06:42:29 PM Personally, I would. It doesn't hurt to trim down a bit on Bitcoin's profit and diversify it to precious metals. While there are speculations of space mining and all, I guess it won't happen anytime soon. And gold would definitely stay precious for the next several decades. For me, it is still a wise decision to buy gold, silver, platinum, and so on during their respective dips. In fact, precious stones could also be added to your portfolio if you have a vast amount of wealth. Having several baskets is always better than having only one. Due respect to your vision and to an extent even I agree that gold will remain precious for years and decades. But the thing with gold is that you are paying charges when you buy gold and when you sell gold you again have to pay some fees as the gold degrades a bit and you don't get 100% value of your gold.With bitcoins there is a volatility issue but I rather consider it as an opportunity and the best part with bitcoins is that you don't have to be worried about theft and robbery but with gold you always have to keep these things in mind. Having several fruits in the basket is absolutely important but you need to also keep in mind that if something is not moving with the pace of how market is moving then you have to switch. Again, everyone have their own view and diverse actions is what makes the market worth it. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: philipma1957 on February 19, 2021, 06:51:53 PM I saw this interesting tweet today. https://i.postimg.cc/zBSXtLvM/image.png source: https://twitter.com/Schuldensuehner/status/1361944837742874631 As we can see, GOLD price is dropping the last 6 months (-10%), while Bitcoin is doing really well (-317%). Some of the gold market cap might be moving to BTC. https://i.postimg.cc/50tLSmKj/image.png Would it be an interesting idea to take some profits from BTC recent gains and buy some gold? Gold is the oldest asset I know of, and it will certainly hold value over the next years to come. I am still accumulating BTC, but to accumulate some Gold is always a good idea. No it is not. The down side of gold is 11 trill cap drops to under 1/2 or 5.5 trillion cap the upside is small. If asteroid mining becomes real gold will tank as a wealth storage. Has it occurred to you that Musk is pioneering space to mine gold on those asteroids and is buying btc on the real cheap? If so gold will drop a lot. Historically, we rarely get more than 6 month of highs, so don't expect to see a dollar soon. We may reach 60K by April or May as a maximum, but I would not be surprised if we settled for a longer time. If what happened in 2017 were to repeat, we would witness torpor for some time and then crazy spikes. Healthy growth requires a constant increase, slow correction like this, not crazy speculation. But if gold is going to be bigly mined on asteroids it will devalue like mad. gold is 11 trillion btc is 1 trillion. maybe in ten years gold is 5 trillion btc is 10 trillion maybe people in the know see the writing on the wall for gold as king of wealth storage Thus the real reason for btc growth is transfer of gold to btc. If so BTC has a huge upside. This is not a bull run. Like any other one for btc. WE never had every day of the year beat any and all ATH for any other time in BTC other than 2009. Look at this below Quote https://bitcointalk.org/index.php?topic=138109.msg56368498#msg56368498 BitStamp USD/BTC CoinFloor GBP/BTC Kraken EUR/BTC Kraken CAD/BTC CoinCheck JPY/BTC ------------------------ ----------------------- ----------------------- ----------------------- -------------------------- 1 2021-02-16 48,997 | 1 2021-02-14 35,325 | 1 2021-02-16 40,445 | 1 2021-02-14 62,046 | 1 2021-02-16 5,162,652 2 2021-02-14 48,746 | 2 2021-02-16 35,036 | 2 2021-02-14 40,324 | 2 2021-02-16 61,955 | 2 2021-02-14 5,102,687 3 2021-02-12 47,548 | 3 2021-02-12 34,454 | 3 2021-02-15 39,350 | 3 2021-02-12 60,686 | 3 2021-02-15 5,007,391 4 2021-02-15 47,515 | 4 2021-02-15 34,390 | 4 2021-02-12 39,318 | 4 2021-02-15 60,532 | 4 2021-02-12 4,993,437 5 2021-02-13 47,122 | 5 2021-02-13 34,184 | 5 2021-02-13 39,068 | 5 2021-02-13 60,301 | 5 2021-02-13 4,974,107 6 2021-02-11 46,872 | 6 2021-02-11 34,035 | 6 2021-02-11 38,664 | 6 2021-02-11 59,824 | 6 2021-02-09 4,889,502 7 2021-02-09 46,705 | 7 2021-02-09 33,771 | 7 2021-02-09 38,627 | 7 2021-02-09 59,095 | 7 2021-02-11 4,879,658 8 2021-02-10 45,554 | 8 2021-02-10 32,882 | 8 2021-02-10 37,629 | 8 2021-02-10 57,583 | 8 2021-02-10 4,789,692 9 2021-02-08 43,069 | 9 2021-02-08 31,367 | 9 2021-02-08 35,596 | 9 2021-02-08 54,955 | 9 2021-02-08 4,442,800 10 2021-01-09 40,348 | 10 2021-01-09 29,772 | 10 2021-02-06 33,057 | 10 2021-01-09 50,984 | 10 2021-01-09 4,189,918 11 2021-01-08 39,991 | 11 2021-01-08 29,727 | 11 2021-01-09 32,844 | 11 2021-02-06 50,653 | 11 2021-02-06 4,171,680 12 2021-02-06 39,835 | 12 2021-02-06 29,056 | 12 2021-01-08 32,672 | 12 2021-01-08 49,929 | 12 2021-01-08 4,123,916 13 2021-01-14 38,606 | 13 2021-01-14 28,497 | 13 2021-02-07 32,094 | 13 2021-01-14 49,229 | 13 2021-02-07 4,075,827 14 2021-02-07 38,571 | 14 2021-01-07 28,351 | 14 2021-01-14 31,840 | 14 2021-02-07 49,117 | 14 2021-01-10 4,071,622 15 2021-01-10 38,553 | 15 2021-01-10 28,256 | 15 2021-02-05 31,422 | 15 2021-01-10 48,796 | 15 2021-01-14 4,003,206 16 2021-01-07 38,299 | 16 2021-02-07 28,094 | 16 2021-02-04 31,274 | 16 2021-02-05 48,160 | 16 2021-02-05 3,972,736 17 2021-02-05 37,729 | 17 2021-02-05 27,589 | 17 2021-01-07 30,967 | 17 2021-02-04 47,914 | 17 2021-02-04 3,943,049 18 2021-02-04 37,458 | 18 2021-02-04 27,472 | 18 2021-01-10 30,814 | 18 2021-02-03 46,962 | 18 2021-01-07 3,940,384 19 2021-01-19 36,921 | 19 2021-01-19 27,115 | 19 2021-01-16 30,544 | 19 2021-01-16 46,912 | 19 2021-01-15 3,854,972 20 2021-01-15 36,803 | 20 2021-01-16 27,040 | 20 2021-01-19 30,490 | 20 2021-01-15 46,845 | 20 2021-01-19 3,835,782 21 2021-01-16 36,797 | 21 2021-02-03 26,885 | 21 2021-01-15 30,451 | 21 2021-01-07 46,824 | 21 2021-01-16 3,827,147 22 2021-02-03 36,640 | 22 2021-01-18 26,816 | 22 2021-02-03 30,404 | 22 2021-01-19 46,766 | 22 2021-02-03 3,816,459 23 2021-01-18 36,132 | 23 2021-01-15 26,799 | 23 2021-01-18 29,906 | 23 2021-01-18 46,224 | 23 2021-01-18 3,751,618 24 2021-01-29 35,574 | 24 2021-01-17 26,104 | 24 2021-01-17 29,308 | 24 2021-01-17 45,623 | 24 2021-01-29 3,710,865 25 2021-01-17 35,389 | 25 2021-01-29 26,094 | 25 2021-01-29 29,288 | 25 2021-01-29 45,428 | 25 2021-01-17 3,677,563 26 2021-01-06 34,979 | 26 2021-01-13 25,864 | 26 2021-02-02 29,013 | 26 2021-01-13 45,194 | 26 2021-01-20 3,638,207 27 2021-01-20 34,861 | 27 2021-01-06 25,727 | 27 2021-01-13 28,893 | 27 2021-02-02 44,658 | 27 2021-02-02 3,618,369 28 2021-02-02 34,861 | 28 2021-01-20 25,549 | 28 2021-01-20 28,855 | 28 2021-01-12 44,340 | 28 2021-01-12 3,610,230 29 2021-01-12 34,778 | 29 2021-02-02 25,518 | 29 2021-01-12 28,588 | 29 2021-01-20 44,278 | 29 2021-01-13 3,589,117 30 2021-01-13 34,751 | 30 2021-01-12 25,078 | 30 2021-01-06 28,416 | 30 2021-01-30 43,629 | 30 2021-01-06 3,587,351 31 2021-01-30 33,988 | 31 2021-01-30 24,738 | 31 2021-01-30 28,051 | 31 2021-02-01 43,109 | 31 2021-01-30 3,551,718 32 2021-02-01 33,790 | 32 2021-01-03 24,548 | 32 2021-02-01 27,962 | 32 2021-01-31 42,705 | 32 2021-01-11 3,521,604 33 2021-01-11 33,575 | 33 2021-01-25 24,363 | 33 2021-01-25 27,603 | 33 2021-01-25 42,333 | 33 2021-02-01 3,511,602 34 2021-01-25 33,485 | 34 2021-01-11 24,327 | 34 2021-01-11 27,453 | 34 2021-01-11 42,223 | 34 2021-01-31 3,493,845 35 2021-01-03 33,463 | 35 2021-02-01 24,286 | 35 2021-01-31 27,403 | 35 2021-01-06 41,789 | 35 2021-01-25 3,468,615 36 2021-01-31 33,299 | 36 2021-01-31 24,222 | 36 2021-01-21 26,678 | 36 2021-01-28 41,173 | 36 2021-01-03 3,457,542 37 2021-01-05 32,341 | 37 2021-01-05 23,716 | 37 2021-01-23 26,582 | 37 2021-01-23 41,137 | 37 2021-01-21 3,363,063 38 2021-01-23 32,331 | 38 2021-01-28 23,447 | 38 2021-01-03 26,548 | 38 2021-01-26 40,734 | 38 2021-01-23 3,359,913 39 2021-01-21 32,321 | 39 2021-01-21 23,380 | 39 2021-01-05 26,417 | 39 2021-01-24 40,553 | 39 2021-01-24 3,355,909 40 2021-01-24 32,091 | 40 2021-01-26 23,362 | 40 2021-01-28 26,354 | 40 2021-01-21 40,384 | 40 2021-01-28 3,325,020 41 2021-01-26 31,995 | 41 2021-01-23 23,349 | 41 2021-01-24 26,340 | 41 2021-01-05 39,706 | 41 2021-01-26 3,313,775 42 2021-01-28 31,973 | 42 2021-01-24 23,319 | 42 2021-01-26 26,272 | 42 2021-01-27 39,583 | 42 2021-01-05 3,288,363 43 2021-01-22 31,363 | 43 2021-01-22 22,953 | 43 2021-01-22 25,923 | 43 2021-01-22 39,391 | 43 2021-01-22 3,240,591 44 2021-01-02 31,348 | 44 2021-01-02 22,890 | 44 2021-01-27 25,391 | 44 2021-01-03 39,297 | 44 2021-01-04 3,211,787 45 2021-01-04 31,099 | 45 2021-01-04 22,545 | 45 2021-01-02 25,248 | 45 2021-01-04 38,339 | 45 2021-01-27 3,211,295 46 2021-01-27 30,809 | 46 2021-01-27 22,351 | 46 2021-01-04 24,961 | 46 2021-01-02 38,298 | 46 2021-01-02 3,190,696 47 2021-01-01 29,279 | 47 2021-01-01 21,429 | 47 2021-01-01 23,880 | 47 2021-01-01 36,510 | 47 2021-01-01 2,997,708 ... all top 47 days are in this year and no other year for all 5 currencies . That is an historical set of numbers. I only know that you simply can't compare this to any year ever. Which so far is really really good. It may be we go beyond 150k and then fall back. Why not? 150k is 3 x what we are but we are around 1 trillion value. gold is about 11 trillion value. Maybe we end the year with: btc market cap at 3.5 trillion gold market cap at 8.5 trillion Gold is not scarce https://theprint.in/opinion/giant-asteroid-has-gold-worth-700-quintillion-but-it-wont-make-us-richer/260482/ So how about the people in the know realize that gold will be easily mined and drop in value a shit ton. Good old BTC is right there to capture that value. To think that today all the gold is worth 11 trillion and that all the btc is worth 1 trillion is going to change quite a bit In ten years maybe btc is 10 trillion and gold drops to 5 trillion. why the fuck not. if so BTC will be 500,000 a coin Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Twentyonepaylots on February 19, 2021, 10:42:07 PM If you want to diversify your portfolio and try out tangible assets, gold is definitely a valuable asset to add in your folder. Reading Robert Kiyosaki's statements also urges me to invest in silver which at this moment is a sleeper asset, contrary to what most people say or think about it.
It is a good time to buy gold, the price is tend to rise. But I want to wait until gold price reach the lowest level. Storing gold is not as easy as storing bitcoin so my first priority is still bitcoin. I don't want to miss this good market condition. I am not sure that gold investors sell their gold to buy bitcoin because it so unbelievable. Maybe gold investment is too safe for them so they want to get involved in bitcoin investment that the risk is very big. Gold may not drop in value anytime soon, so I highly suggest you buy now and execute dollar cost averaging instead to ensure you don't get fomoed, otherwise you can bet your bottom dollar you'll be hoping you bought gold today. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: aesma on February 19, 2021, 11:26:23 PM If you're bitcoin rich there is nothing wrong with selling a bit of it to buy something less volatile like gold. Or more useful/revenue generating like real estate.
However if you feel you don't have enough BTC, then I wouldn't do it, gold isn't particularly attractive, and institutions buying BTC might indeed lower gold price even more. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: AndySt on February 19, 2021, 11:59:10 PM If you're bitcoin rich there is nothing wrong with selling a bit of it to buy something less volatile like gold. Or more useful/revenue generating like real estate. In its current state, gold is a more interesting asset for large financial organizations and entire states, represented by their central banks, than for small investors. And the goals of small and large investors are different. If for large investors the main task is to preserve and only then increase financial resources,then for small investors, the most important task is often to increase. Just for this, bitcoin has been very well suited recently.However if you feel you don't have enough BTC, then I wouldn't do it, gold isn't particularly attractive, and institutions buying BTC might indeed lower gold price even more. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: why on February 20, 2021, 04:12:06 AM It would be wise to buy some gold. I have invested a lot of money in the Bitcoin market and I will buy gold with whatever profit I can get from it. I have done such work before. Gold is a very ancient asset. Bitcoin prices often go up and down. It can make a lot of money but there are some risks. But the price of gold is almost stable. Like Bitcoin, the price of gold does not rise or fall very fast.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: beerlover on February 20, 2021, 05:41:11 AM Hard to find a market for platinum and street value isn't really known in my country but gold and silver are some of the big ones in my country. I think that this is an opportunity to buy gold now that its bull run is over the prices is slumping back, the prices will definitely go up someday and I think that anyone who passes the opportunity to buy one now is a fool. It is not hard to find considering there are two ways to go for it, one is you do not buy platinum like directly at the streets, you go to exchanges and find an exchange that allows you to own platinum on paper, of course you will not physically own it, you will just have it on some computer screen.Most nations have that kind of asset exchanges here and there, banks do have that too, just look for places that does it, and when the price increases you can sell it on the same exchange as well. Secondly you could actually go and buy some, which would be not a smart move if you ask me, there is no need to hold it, none of us actually hold bitcoin in our hands neither, so it is really a bad move but you CAN do it if you want to. However after all that said and done, I do prefer gold as well, gold is something you can use anywhere in the whole world and has a good value and very easy to cash out. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: tygeade on February 20, 2021, 06:45:46 AM Investing on Gold is always a good idea and why not you too invest on it? It is mandatory to hold few hundred grams of Gold in or savings all the time for emergency needs when nothing is liquidated as Gold. I guess some of the rich people are moving to BTC from Gold that is why the price is dropping but still gold remains in the top of total marketcap and it deserves it. Gold remains on the top because it is recognized globally. Imagine if gold was being mined more than iron then it would have absolutely no value so its valuable because the demand is always there because the supply is very limited.I don't hold much gold but my parents do and I respect their decision because not everyone has the same confidence in Bitcoins or crypto currencies as I have or anyone here in the forum has. I don't want to force my decision onto them either, but yeah whatever money I manage to earn and save in my life all goes towards either spending on needs or if I am saving, it always is saved in the form of bitcoins or sometimes other coins like ETH, DOT,etc Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Darker45 on February 20, 2021, 10:31:07 AM Personally, I would. It doesn't hurt to trim down a bit on Bitcoin's profit and diversify it to precious metals. While there are speculations of space mining and all, I guess it won't happen anytime soon. And gold would definitely stay precious for the next several decades. For me, it is still a wise decision to buy gold, silver, platinum, and so on during their respective dips. In fact, precious stones could also be added to your portfolio if you have a vast amount of wealth. Having several baskets is always better than having only one. Due respect to your vision and to an extent even I agree that gold will remain precious for years and decades. But the thing with gold is that you are paying charges when you buy gold and when you sell gold you again have to pay some fees as the gold degrades a bit and you don't get 100% value of your gold.You will also pay premium and fees when you buy and sell Bitcoin. Sometimes, you even allow yourself to have the spread get the better of you if you are in a hurry to sell a certain amount. Quote With bitcoins there is a volatility issue but I rather consider it as an opportunity and the best part with bitcoins is that you don't have to be worried about theft and robbery but with gold you always have to keep these things in mind. Theft is a really huge problem with Bitcoin, probably more than with gold. There are probably more ways for thieves to steal Bitcoin than with gold. Furthermore, with gold you oftentimes don't have them in your possession except if you intend to keep physical gold. Volatility is both good and bad. It is both an opportunity and a disaster. Quote Having several fruits in the basket is absolutely important but you need to also keep in mind that if something is not moving with the pace of how market is moving then you have to switch. You may adjust your portfolio as you wish but you probably does not fully switch more often. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Cling18 on February 20, 2021, 11:05:21 AM Investing on Gold is always a good idea and why not you too invest on it? It is mandatory to hold few hundred grams of Gold in or savings all the time for emergency needs when nothing is liquidated as Gold. I guess some of the rich people are moving to BTC from Gold that is why the price is dropping but still gold remains in the top of total marketcap and it deserves it. I'm actually wondering why people keep on comparing these two when we could actually have them both as assets. Gold will always remain gold and Bitcoin will always remain as cryptocurrency. One of the few differences that we could notice is more people trust Bitcoin since it has proven a lot for years while Bitcoin is just starting to gain other's trust when it comes to investment. I'm sure that both could strike higher in the future but both are worth investing in. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: hatshepsut93 on February 20, 2021, 11:49:15 AM I'd rather sell my Bitcoin for fiat and buy back Bitcoin in bear market. In the past cycles it crashed 80% from the peak of the bull market, and it's a huge opportunity to buy more coins for the next bull run which will happen in 2024. Or maybe there will even be a smaller bull run in 2023.
Gold isn't really exciting, and when it comes to traditional investments I'd rather choose real estate - it generates stable income and it's always in demand. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Lucius on February 20, 2021, 03:18:36 PM If asteroid mining becomes real gold will tank as a wealth storage. Has it occurred to you that Musk is pioneering space to mine gold on those asteroids and is buying btc on the real cheap? If so gold will drop a lot. I don't understand why you are spreading theories about gold mining somewhere in space as something that will happen in the next 10 years when most experts say it will take at least 50 years to make it available and commercially viable? Gold and other metals are very likely to be mined on asteroids, but not in the near future - certainly not in the next 10 years. But this does not mean that BTC does not have an impact on gold even now, because a certain outflow of funds from the gold market to BTC has already been recorded. Quote from: https://www.mining.com/web/the-golden-asteroid-that-could-make-everyone-on-earth-a-billionaire/ Can we actually extract this space gold? That is the quintillion-dollar question, certainly. Speaking to Outerplaces, Professor John Zarnecki, president of the Royal Astronomical Society, estimates that it would take around 25 years to get ‘proof of concept’, and 50 years to start commercial production. @bitmover, I don't see why it would be bad to diversify into things like gold and silver as some kind of insurance in case BTC experiences some catastrophic drop - smart investors know it's never wise to keep all eggs in the same basket, no matter what some say are 100% in BTC - but I think that's far from the truth. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: nicecrypto on February 21, 2021, 09:52:11 AM I have been talking just at the weekend to a BTC friend about taking profits and maybe buy Gold and Property but we were aiming for later in the year when [hopefully/potentially] that Gold/Bitcoin gap will be even wider. If you listen to Michael Saylor, Bitcoin is really the only store of value, its really hard to know what to do, is there going to be a correction like 2017/2018? will we actually need to diversify into Metals or Property? Diversification is always a good idea in investments and i particularly always like property investments which is where my next target is. With regards to Bitcoin price correction, I believe that correction will still come but understand that after this, we will still see the years ATH before the Bear market sets in. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: so98nn on February 21, 2021, 10:19:52 AM I’m not sure with what reference they are correlating the Gold and Bitcoin ? Though both the markets are different and share no investors equally!! You might say people are selling Gold and buying bitcoin. That’s not true 100%. The fan base of Gold may or may not be in the crypto. Gold is traditional asset, mostly the holders are from big old wallet or fresh investors who see Gold as low value asset as compared to bitcoin.
So considering this fact they may not affect each other to this extent. Gold is centralised stuff, controlled, manipulative with Government holdings. So it’s always good if you buy it when it’s lowering the value. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: bryant.coleman on February 21, 2021, 01:41:13 PM It is true that gold is going down right now. But I don't agree when you say that gold is going down because people are increasingly flocking to Bitcoin. What happening with gold right now is a temporary slump. In the long-term I expect gold to trade at around $5,000 per oz. Gold remains the most trusted and accepted store of value. Bitcoin will take a long time to overtake gold in this regard.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: AndySt on February 21, 2021, 11:59:23 PM It is true that gold is going down right now. But I don't agree when you say that gold is going down because people are increasingly flocking to Bitcoin. What happening with gold right now is a temporary slump. In the long-term I expect gold to trade at around $5,000 per oz. Gold remains the most trusted and accepted store of value. Bitcoin will take a long time to overtake gold in this regard. Yes, I also think that bitcoin and gold are two parallel topics not competing directly with each other. Gold is a more conservative source for investment, dealing not only with individuals, but also with large organizations and even states, and it is unlikely to have a level of volatility in size and time of change comparable to bitcoin and other cryptocurrencies. Bitcoin at this point in time is more of a speculative asset than an object for long-term investment.Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Hughes_Ryan on February 22, 2021, 04:02:25 AM Yes, gold is always available and has a good meaning in life. Bitcoin will be the intellectual property of the future but it's good to buy some gold when it falls in price.
Because, gold is the first jewelry mentioned in the wedding, not bitcoin. I will buy them for marriage in the near future :)) and leave a bit of dowry for my children. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: South Park on February 22, 2021, 05:59:16 AM This makes me wonder if possible Gold devaluation is one of the reasons that the Indian Govt is getting so proactive about small retail investors making money through crypto in India?!! That is an interesting theory and one that may as well turn out to be true, India is always at the top of the net buyers of gold, if people there begin to prefer bitcoin over gold not only this will affect the market of gold in India it will also begin to affect the capability of the government to keep track of what their citizens are doing with their money, and that is something they do not want to tolerate because as we have seen over the years they have implemented cash restrictions on India as well and bitcoin could give their citizens some of the freedom they have lost over the years because of those policies.You see Gold is seen as a big motivator for savings as well as spending in India. A huge percentage of the population is young and digitally active. If the concept of bitcoin as digital gold catches up, Gold may lose its dominant role and cost for the population. Cryptocurrecies and the accompanying innovations also make people way more spartan with respect to their savings and investments. Majority of Indians prefer staying in safe Govt issued instruments and put money in Govt owned banks. All of that could possibly change with Bitcoin. Instead of letting innovation and good business drive growth in the sector, the reactionary and conservative policymakers are resorting to moves like banning all cryptos. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: molsewid on February 22, 2021, 06:57:57 AM Yes, gold is always available and has a good meaning in life. Bitcoin will be the intellectual property of the future but it's good to buy some gold when it falls in price. Maybe gold is always been the first thing older people is asking for some marriage and downry but that was before but I don't think it will be the same for now maybe yes, maybe in some countries yes it is. I love bitcoin as well as gold, maybe I could buy at least small pcs or 1bar if I could afford it but I don't know the price of it now. But I will not turn all of my bitcoins into gold, bitcoin is much precious than gold now, they are in different categories with different amount now so I don't think we could also compare them now. Because, gold is the first jewelry mentioned in the wedding, not bitcoin. I will buy them for marriage in the near future :)) and leave a bit of dowry for my children. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: bryant.coleman on February 22, 2021, 10:40:40 AM Yes, I also think that bitcoin and gold are two parallel topics not competing directly with each other. Gold is a more conservative source for investment, dealing not only with individuals, but also with large organizations and even states, and it is unlikely to have a level of volatility in size and time of change comparable to bitcoin and other cryptocurrencies. Bitcoin at this point in time is more of a speculative asset than an object for long-term investment. Bitcoin may be regarded as a speculative asset at this point, but I disagree when you claim that it is not suitable for long-term investment. With institutions pouring more and more of their funds in to Bitcoin, in the long term the potential for returns are much higher. Many of these institutions are claiming that they have 10-year or even 15-year targets. So unlike the individual investors, they are not going to dump their coins at the first opportunity. This definitely means that the corporations are expecting good returns in the long-term. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: 777Jolami on February 22, 2021, 11:47:55 AM I saw this interesting tweet today. Perhaps everyone will think of buying gold, and want to trace to the nearest place for immediate consultation. But personally I would choose bitcoin. Gold is too pragmatic and is in the idyllic category, so I chose bitcoin because of my personality like bitcoin's macro and progressiveness. Bitcoin has also become popular in life, free to use for all types and purposes. https://i.postimg.cc/zBSXtLvM/image.png source: https://twitter.com/Schuldensuehner/status/1361944837742874631 As we can see, GOLD price is dropping the last 6 months (-10%), while Bitcoin is doing really well (-317%). Some of the gold market cap might be moving to BTC. https://i.postimg.cc/50tLSmKj/image.png Would it be an interesting idea to take some profits from BTC recent gains and buy some gold? Gold is the oldest asset I know of, and it will certainly hold value over the next years to come. I am still accumulating BTC, but to accumulate some Gold is always a good idea. I think everything is cyclical, in the long run bitcoin will be number 1. today there is a correction and I will continue to buy some bit more bitcoins and dream my beef in the future. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: shoreno on February 22, 2021, 12:08:41 PM is that 166k usd is the price of 1 gold ? that was still alot and btc has still a long way to fully overcome gold even if we say that gold dropped a thousand dollar and that price of 166k per gold is still expensive so i think ill wait for more price drops of gold before i finally buy it but in the meantime i can be able to buy more btc and im going to finish my btc accumulating first before transfering to gold so that i can foccus properly .
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: darewaller on February 22, 2021, 05:40:06 PM -snip Depends on where you buy it of course but you usually do not pay premium fee's to buy or sell bitcoin, you do pay a huge sum when you are sending your bitcoin somewhere which should be definitely fixed but you can't easily send 10 million dollars worth of gold to another nation neither, it would be near impossible to do something like that and even if you can it would be very very difficult.You will also pay premium and fees when you buy and sell Bitcoin. Sometimes, you even allow yourself to have the spread get the better of you if you are in a hurry to sell a certain amount. Quote With bitcoins there is a volatility issue but I rather consider it as an opportunity and the best part with bitcoins is that you don't have to be worried about theft and robbery but with gold you always have to keep these things in mind. Theft is a really huge problem with Bitcoin, probably more than with gold. There are probably more ways for thieves to steal Bitcoin than with gold. Furthermore, with gold you oftentimes don't have them in your possession except if you intend to keep physical gold. Volatility is both good and bad. It is both an opportunity and a disaster. Quote Having several fruits in the basket is absolutely important but you need to also keep in mind that if something is not moving with the pace of how market is moving then you have to switch. You may adjust your portfolio as you wish but you probably does not fully switch more often. However in crypto you can send money around the world in a matter of few hours at most with just 100 bucks at most cost. Yet that is not what I was talking about, I meant "sending money from your bank to local exchange, buying bitcoin, wait for it to go up, sell bitcoin, withdraw fiat back to bank account" this is really not that expensive, gold is quite expensive to buy and sell because of premium charges but bitcoin is not in that regard, it is quite inexpensive. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: bitgolden on February 22, 2021, 06:12:16 PM Maybe gold is always been the first thing older people is asking for some marriage and downry but that was before but I don't think it will be the same for now maybe yes, maybe in some countries yes it is. I love bitcoin as well as gold, maybe I could buy at least small pcs or 1bar if I could afford it but I don't know the price of it now. But I will not turn all of my bitcoins into gold, bitcoin is much precious than gold now, they are in different categories with different amount now so I don't think we could also compare them now. I think it is still about diversification for the future generations as well, not like people will "hate" gold nowadays, they will still think it is a good investment but they will not see it as the only thing. My dad and mom collected gold like miners and they have paid so many things with that "savings", I would literally put it on an index and it would have made at least that much money unless it was a market crash.Long story short I personally (and many people in my generation) would love to have some stocks too, some gold, even silver, some crypto and some other things if we can, diversification is a lot more available to the new generation. Next generation will probably not have that much gold or stocks and more crypto but they will still not have zero gold, we are not going to see gold suddenly going to zero and being unimportant in the world in 50 years. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: aTriz on February 22, 2021, 06:20:43 PM I do think that it is a good time to buy some gold and store them for future. as you said gold will hold it's value in future as it's the one of oldest and most valuable asset in world. and I don't think there is any connection with Bitcoin in dropping of GOLD's value.
is that 166k usd is the price of 1 gold ? that was still alot and btc has still a long way to fully overcome gold even if we say that gold dropped a thousand dollar and that price of 166k per gold is still expensive so i think ill wait for more price drops of gold before i finally buy it but in the meantime i can be able to buy more btc and im going to finish my btc accumulating first before transfering to gold so that i can foccus properly . I don't know what do you mean by 1 GOLD. it could be one gram, one killo or any amount of GOLD. I don't think we can count gold itself. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: South Park on February 25, 2021, 01:26:25 AM Yes, gold is always available and has a good meaning in life. Bitcoin will be the intellectual property of the future but it's good to buy some gold when it falls in price. Maybe gold is always been the first thing older people is asking for some marriage and downry but that was before but I don't think it will be the same for now maybe yes, maybe in some countries yes it is. I love bitcoin as well as gold, maybe I could buy at least small pcs or 1bar if I could afford it but I don't know the price of it now. But I will not turn all of my bitcoins into gold, bitcoin is much precious than gold now, they are in different categories with different amount now so I don't think we could also compare them now. Because, gold is the first jewelry mentioned in the wedding, not bitcoin. I will buy them for marriage in the near future :)) and leave a bit of dowry for my children. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Sithara007 on February 25, 2021, 03:10:46 AM Ideally we would have expected the gold prices to go up along with the hyperinflation caused by the stimulus measures, but the prices are actually going down. Many of the analysts are saying that there is an oversupply of gold at the market right now, because of people liquidating their gold savings to survive during the pandemic period. This is especially true here in India and I have seen for myself how people are selling their gold ornaments and coins after losing their jobs.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: magneto on February 25, 2021, 04:14:46 AM I think so.
With the hype surroundings cryptocurrencies it seems as if people have forgotten that precious metals are still a very useful long term hedge against inflation as well. Even though the narrative right now is that bitcoin and other cryptos will become long term store of values, when a correction hits BTC markets people will likely overreact and revert back to gold/silver as safe havens for a while. So yes, if you want to hedge your Bitcoin bets, having PMs in your portfolio will be very effective and much safer in the long run compared to having fiat - which will imminently depreciate. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: laredo7mm on February 25, 2021, 03:45:37 PM Bitcoin is not eating gold. Instead it reflect the gold.The price of bitcoin over a period increased some high.Now the price of gold also increased to next level.Many people who holding gold over decade had sold gold at highest price and make use of that money to buy their home.This growth only happen in bitcoin and it's now happening with gold. Actually, it shows what the community wants. Gold is a very precious metal that has been used for transfer value from the past. The price growth of bitcoin is higher than bitcoin because young people like to invest in bitcoin rather than gold. If you check the past 10 years' chart for both of them then you will see the difference in price growth and that is the reason the young generation wants to invest in bitcoin to be rich very quick. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: SquallLeonhart on February 26, 2021, 09:29:07 AM With the hype surroundings cryptocurrencies it seems as if people have forgotten that precious metals are still a very useful long term hedge against inflation as well. Well, the idea is that gold is still better than fiat, but crypto is better than both gold and fiat. That is the point here, that is what people are after as well, I personally do not like it when people actually end up saving fiat at the side, but I am find with precious metals. Also it doesn't make sense to own gold on your bank account, there are offers like that, and you can do it for silver as well, like those are not really smart moves, if you really want to, go out and buy real gold and that would be better, it would be a cool investment to own.Even though the narrative right now is that bitcoin and other cryptos will become long term store of values, when a correction hits BTC markets people will likely overreact and revert back to gold/silver as safe havens for a while. So yes, if you want to hedge your Bitcoin bets, having PMs in your portfolio will be very effective and much safer in the long run compared to having fiat - which will imminently depreciate. However just because I am fine with gold, doesn't change the fact that bitcoin has moved 5x in the last year, that is really the reason why people like crypto more than gold, because it doesn't make sense to buy gold when you can buy crypto and double your money every year, and that seems to be the case for now. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: TheGreatPython on February 27, 2021, 04:42:16 AM Ideally we would have expected the gold prices to go up along with the hyperinflation caused by the stimulus measures, but the prices are actually going down. Many of the analysts are saying that there is an oversupply of gold at the market right now, because of people liquidating their gold savings to survive during the pandemic period. This is especially true here in India and I have seen for myself how people are selling their gold ornaments and coins after losing their jobs. You have a very valid point as during pandemic a lot of assets were liquidated in the market including gold, silver and other valuable metals. This might be a reason why gold has seen a downfall despite expectations being the opposite.Also it will take some years to get back to normal conditions which means people still haven't settled like before and hence cannot buy gold right now. The main focus is surviving and after that things like gold, silver or even Bitcoins are being considered. I was shocked why Bitcoin market is doing so good lately because people were saving money after the pandemic rather than spending but maybe Musk and other investors have impacted the Bitcoin market too much. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: geegaw on February 27, 2021, 10:53:09 AM Bitcoin is not eating gold. Instead it reflect the gold.The price of bitcoin over a period increased some high.Now the price of gold also increased to next level.Many people who holding gold over decade had sold gold at highest price and make use of that money to buy their home.This growth only happen in bitcoin and it's now happening with gold. Actually, it shows what the community wants. Gold is a very precious metal that has been used for transfer value from the past. The price growth of bitcoin is higher than bitcoin because young people like to invest in bitcoin rather than gold. If you check the past 10 years' chart for both of them then you will see the difference in price growth and that is the reason the young generation wants to invest in bitcoin to be rich very quick. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: oHnK on February 27, 2021, 01:35:05 PM young people like us have plenty of time to make up for the setbacks and bitcoin is the perfect place to start a journey. I see that trend among young people. Because young people are an attractive market because they are who dare to take risks for big profits and are not like the old man. Crypto like Bitcoin is the most suitable investment for young people. Because it is volatile, so it has a high return but a very high risk. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: doomloop on February 27, 2021, 02:00:57 PM It is true that gold is going down right now. But I don't agree when you say that gold is going down because people are increasingly flocking to Bitcoin. What happening with gold right now is a temporary slump. In the long-term I expect gold to trade at around $5,000 per oz. Gold remains the most trusted and accepted store of value. Bitcoin will take a long time to overtake gold in this regard. I don't think gold prices has much to do with Bitcoins either. Yes the trend has changed and people might be buying more virtual or online shares as compared to physical assets but that doesn't mean there is any shortage of buyers and investors in gold. The prices for gold are always going up or down without much of a reason.Bitcoin is not eating gold. Instead it reflect the gold.The price of bitcoin over a period increased some high.Now the price of gold also increased to next level.Many people who holding gold over decade had sold gold at highest price and make use of that money to buy their home.This growth only happen in bitcoin and it's now happening with gold. Yes, gold is still as scarce as ever and unless Musk finds a planet for gold which I heard in some article, it is going to remain scarce for years to follow. Yes, I don't invest in gold but that doesn't mean I hate or underrate gold investors and holders. Everyone have their own preferences/priorities when investing and gold is still one of the top preferences, Bitcoin has raised in priority no doubt though.Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: jaysabi on February 27, 2021, 03:27:40 PM I saw this interesting tweet today. https://i.postimg.cc/zBSXtLvM/image.png source: https://twitter.com/Schuldensuehner/status/1361944837742874631 As we can see, GOLD price is dropping the last 6 months (-10%), while Bitcoin is doing really well (-317%). Some of the gold market cap might be moving to BTC. https://i.postimg.cc/50tLSmKj/image.png Would it be an interesting idea to take some profits from BTC recent gains and buy some gold? Gold is the oldest asset I know of, and it will certainly hold value over the next years to come. I am still accumulating BTC, but to accumulate some Gold is always a good idea. Gold is an inferior investment in almost every regard. It's a hedge against extreme economic upheaval, which makes it a conservative investment. The market has absolutely destroyed gold since 2008 (before the financial crisis). Since 2008, gold has returned 77% while the S&P has returned 261%. The opportunity cost of owning gold over long periods of time is very high, but you are more protected in the case of extreme volatility. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: slapper on February 27, 2021, 04:31:53 PM Instead of taking profit from bitcoin to buy gold, why not wait for the price of bitcoin to drop and then rebuy it? I believe this is a better idea than buying gold. Gold is known as the oldest asset on the planet but it does not mean it is the profitable one. Bitcoin has a significant performance recently and because of that reasons, bitcoin should be bought and accumulate not just short term but also for the future purposes
Indeed, you can buy gold if you afford a smaller profit but along with it is the safer haven with less volatility. Though, if I had to invest in gold, I would use leverage to intensify my profit. It is up to you Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Casdinyard on February 27, 2021, 04:56:37 PM I saw this interesting tweet today. https://i.postimg.cc/zBSXtLvM/image.png source: https://twitter.com/Schuldensuehner/status/1361944837742874631 As we can see, GOLD price is dropping the last 6 months (-10%), while Bitcoin is doing really well (-317%). Some of the gold market cap might be moving to BTC. https://i.postimg.cc/50tLSmKj/image.png Would it be an interesting idea to take some profits from BTC recent gains and buy some gold? Gold is the oldest asset I know of, and it will certainly hold value over the next years to come. I am still accumulating BTC, but to accumulate some Gold is always a good idea. Gold is an inferior investment in almost every regard. It's a hedge against extreme economic upheaval, which makes it a conservative investment. The market has absolutely destroyed gold since 2008 (before the financial crisis). Since 2008, gold has returned 77% while the S&P has returned 261%. The opportunity cost of owning gold over long periods of time is very high, but you are more protected in the case of extreme volatility. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: South Park on February 28, 2021, 01:50:24 AM Ideally we would have expected the gold prices to go up along with the hyperinflation caused by the stimulus measures, but the prices are actually going down. Many of the analysts are saying that there is an oversupply of gold at the market right now, because of people liquidating their gold savings to survive during the pandemic period. This is especially true here in India and I have seen for myself how people are selling their gold ornaments and coins after losing their jobs. That is very common, it is known that at the beginning of an important economic crisis people and businesses have the tendency to sell their best assets, this puts more of that asset on the market and makes the price to go down significantly, but then once those people run out of that asset the price begins to climb relatively quickly, in fact we saw something similar with bitcoin during the crash of March and then we saw and impressive increase in its price as well.Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: jaysabi on February 28, 2021, 05:38:21 AM I saw this interesting tweet today. https://i.postimg.cc/zBSXtLvM/image.png source: https://twitter.com/Schuldensuehner/status/1361944837742874631 As we can see, GOLD price is dropping the last 6 months (-10%), while Bitcoin is doing really well (-317%). Some of the gold market cap might be moving to BTC. https://i.postimg.cc/50tLSmKj/image.png Would it be an interesting idea to take some profits from BTC recent gains and buy some gold? Gold is the oldest asset I know of, and it will certainly hold value over the next years to come. I am still accumulating BTC, but to accumulate some Gold is always a good idea. Nobody who wants to make money accumulates gold. Gold is only for people who have immense wealth and want to protect against the unlikely scenario where there is mass economic upheaval and you want to lose as little money as possible during it. Gold returns are inferior to just about every major asset class- real estate, the stock market, etc. Gold has returned about 75% since just before the housing crisis while the S&P has returned more than 300%. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: oHnK on February 28, 2021, 01:20:32 PM Gold returns are inferior to just about every major asset class- real estate, the stock market, etc. Gold has returned about 75% since just before the housing crisis while the S&P has returned more than 300%. Isn't that a natural thing? Because whatever has a low risk, the return will also be low. The higher the risk, the higher the resulting return. I think it's talked about very often here. Stocks, real estate and Bitcoin carry a much higher level of risk than Gold. Even though Bitcoin and other investments are able to exceed the price of gold, gold is still believed to be a safe asset. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: hahay on February 28, 2021, 01:52:53 PM I personally only believe gold can be the safest investment in the long term, so buying it when its value drops or not I think it's a good choice. Buying gold and bitcoin is basically the right investment so there is nothing wrong with it, then the choice goes back to individual confidence as there is nothing to research anymore for both of which are basically places for us to invest.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: South Park on March 04, 2021, 01:27:27 AM I personally only believe gold can be the safest investment in the long term, so buying it when its value drops or not I think it's a good choice. Buying gold and bitcoin is basically the right investment so there is nothing wrong with it, then the choice goes back to individual confidence as there is nothing to research anymore for both of which are basically places for us to invest. People have different preferences, for those that do not trust the new technology gold can be a good option and for those that prefer the ease of use of bitcoin then they will choose it over gold, the big issue is that very few people are holding any of the two so when an economic crisis happens they lose their jobs and their wealth, it is sad but at the same time that is the fate of those that do not take the time to care about their finances and study the field to improve their lives.Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: LUCKMCFLY on March 04, 2021, 04:25:26 AM I personally only believe gold can be the safest investment in the long term, so buying it when its value drops or not I think it's a good choice. Buying gold and bitcoin is basically the right investment so there is nothing wrong with it, then the choice goes back to individual confidence as there is nothing to research anymore for both of which are basically places for us to invest. People have different preferences, for those that do not trust the new technology gold can be a good option and for those that prefer the ease of use of bitcoin then they will choose it over gold, the big issue is that very few people are holding any of the two so when an economic crisis happens they lose their jobs and their wealth, it is sad but at the same time that is the fate of those that do not take the time to care about their finances and study the field to improve their lives.Gold has a lot of history, in fact gold is always seen as the safe haven, in the worst world crises the only way out is through gold. Currently Bitcoin is being presented, for some it represents Digital Gold, but in general terms it represents Value and Money, the great boom of Bitcoin has made many investors have migrated from gold investment to Bitcoin, in fact, in times of pandemic, the The least suffered from market declines was gold and bitcoin, bitcoin recovered quickly and continues to provide good news, some predict it will reach $100k. Always the best option will be to have an investment in Gold and Bitcoin, I think it would be the best way to diversify our money. Bitcoin has been gaining more confidence, of course that Gold represents security, especially for governments and banks in general, bitcoin today has a value in dollars that is higher than gold, but despite this, many continue to trust more in gold. As time goes by and people know more about Bitcoin, it will have more acceptance, in the near future bitcoin may be more accepted worldwide even by governments, since you cannot cover the sun with a finger. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: South Park on March 07, 2021, 05:45:09 AM Gold has a lot of history, in fact gold is always seen as the safe haven, in the worst world crises the only way out is through gold. While the history of gold is undeniable I think the preference of gold over bitcoin is also a generational thing, young people those that are 30 years old or less prefer bitcoin over gold, if we give it a few decades and the young people still prefer bitcoin over gold and those that are currently 30 years old maintain their current preference we could see a massive migration from gold to bitcoin simply because of that generational change in the way people prefer to store their value.Currently Bitcoin is being presented, for some it represents Digital Gold, but in general terms it represents Value and Money, the great boom of Bitcoin has made many investors have migrated from gold investment to Bitcoin, in fact, in times of pandemic, the The least suffered from market declines was gold and bitcoin, bitcoin recovered quickly and continues to provide good news, some predict it will reach $100k. Always the best option will be to have an investment in Gold and Bitcoin, I think it would be the best way to diversify our money. Bitcoin has been gaining more confidence, of course that Gold represents security, especially for governments and banks in general, bitcoin today has a value in dollars that is higher than gold, but despite this, many continue to trust more in gold. As time goes by and people know more about Bitcoin, it will have more acceptance, in the near future bitcoin may be more accepted worldwide even by governments, since you cannot cover the sun with a finger. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Vishnu.Reang on March 07, 2021, 01:56:00 PM I strongly believe that one of the reason investors are getting rid of gold is because it is more vulnerable to confiscation. The government, with the multi-trillion stimulus measures is fast running out of cash. The federal debt is ballooning. The only way for them to move forward is wealth confiscation. In Cyprus they targeted the savings bank accounts. But I have a feeling that this time it will be worse. The governments will start confiscating equities, bullion and real estate. They will implemented the tried and trusted method of stealing from the top 10%, to feed the remaining 90%. This may be one of the reasons why assets such as Bitcoin (that can be protected from confiscation) is rising, while physical assets such as gold and silver are going down.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: ven7net on March 07, 2021, 02:12:49 PM Although I am a supporter of crypto and I believe that cryptocurrencies will continue to occupy a part of the world market, however, as for gold, there is an opinion that over the next 1 to 3 years the price of gold may fly farther than the moon. This is not my opinion, but one person and it is based on the future solution of problems associated with the global monetary system. In general, there is a high probability that in the near future there will be a return to the gold standard system and the currencies of states will again be tied to gold. According to this person, from the beginning we will observe a fall in the price of gold and an increase in the US dollar, and after a collapse of both the dollar and the crypto market and a crazy rise in gold. I would not underestimate this opinion, since it makes sense and the likelihood that everything will happen just like that. Of course, this does not mean that the US dollar and cryptocurrencies will disappear, no, it may mean that they will lose their value.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: jaysabi on March 07, 2021, 03:07:10 PM Gold returns are inferior to just about every major asset class- real estate, the stock market, etc. Gold has returned about 75% since just before the housing crisis while the S&P has returned more than 300%. Isn't that a natural thing? Because whatever has a low risk, the return will also be low. The higher the risk, the higher the resulting return. I think it's talked about very often here. Stocks, real estate and Bitcoin carry a much higher level of risk than Gold. Even though Bitcoin and other investments are able to exceed the price of gold, gold is still believed to be a safe asset. Yeah, it's definitely related. Risk is associated with volatility, so things with lower volatility are considered "safer." Gold doesn't have the volatility of other asset classes, so by definition it's not going to rise as high in good economic times but it's not going to fall as low in bad economic times. But it's why it's a bad investment if you're trying to make wealth and not protect it. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: South Park on March 11, 2021, 04:18:53 AM I strongly believe that one of the reason investors are getting rid of gold is because it is more vulnerable to confiscation. The government, with the multi-trillion stimulus measures is fast running out of cash. The federal debt is ballooning. The only way for them to move forward is wealth confiscation. In Cyprus they targeted the savings bank accounts. But I have a feeling that this time it will be worse. The governments will start confiscating equities, bullion and real estate. They will implemented the tried and trusted method of stealing from the top 10%, to feed the remaining 90%. This may be one of the reasons why assets such as Bitcoin (that can be protected from confiscation) is rising, while physical assets such as gold and silver are going down. Smart people are aware of history, those that say that gold is better seem to conveniently forget there was a time in which the US government basically made illegal for their citizens to hold gold and confiscated the gold that was in private hands, while economists tried to make it seem as if the crisis of 2007 was worst than the great depression that is false, if something as big as that happens now then I can clearly see governments turning to confiscatory policies way worse than that and they may even demand that you give them your bitcoin, which is why it is important to remain silent about your bitcoin holdings.Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: jaysabi on March 14, 2021, 04:31:09 AM I strongly believe that one of the reason investors are getting rid of gold is because it is more vulnerable to confiscation. The government, with the multi-trillion stimulus measures is fast running out of cash. The federal debt is ballooning. The only way for them to move forward is wealth confiscation. In Cyprus they targeted the savings bank accounts. But I have a feeling that this time it will be worse. The governments will start confiscating equities, bullion and real estate. They will implemented the tried and trusted method of stealing from the top 10%, to feed the remaining 90%. This may be one of the reasons why assets such as Bitcoin (that can be protected from confiscation) is rising, while physical assets such as gold and silver are going down. This isn't true, the government literally can't run out of money because it creates the money supply. The way to move forward isn't wealth confiscation, it's either austerity to get the deficit under control, or monetizing the debt by having the Fed continue to buy treasury issues which increases the money supply. There will not be confiscation in the US, property law is too much ingrained into the system and undermining that would be far worse than any benefit of confiscation. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: South Park on March 15, 2021, 05:50:40 AM I strongly believe that one of the reason investors are getting rid of gold is because it is more vulnerable to confiscation. The government, with the multi-trillion stimulus measures is fast running out of cash. The federal debt is ballooning. The only way for them to move forward is wealth confiscation. In Cyprus they targeted the savings bank accounts. But I have a feeling that this time it will be worse. The governments will start confiscating equities, bullion and real estate. They will implemented the tried and trusted method of stealing from the top 10%, to feed the remaining 90%. This may be one of the reasons why assets such as Bitcoin (that can be protected from confiscation) is rising, while physical assets such as gold and silver are going down. This isn't true, the government literally can't run out of money because it creates the money supply. The way to move forward isn't wealth confiscation, it's either austerity to get the deficit under control, or monetizing the debt by having the Fed continue to buy treasury issues which increases the money supply. There will not be confiscation in the US, property law is too much ingrained into the system and undermining that would be far worse than any benefit of confiscation. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: MCobian on March 15, 2021, 08:15:25 AM It's a very good idea to take some profit from Bitcoin to buy Gold, because the current Bitcoin price is quite high to sell. Moreover, Gold is one of
the oldest assets which has proven to be very good for holding in the long term. Sometimes to make us richer, we do have to invest in more than one asset. For now I invest not only in Bitcoin and Gold, but I also invested in Real estate which proved to be good for long term investment too. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Mauser on March 15, 2021, 09:12:21 AM It's a very good idea to take some profit from Bitcoin to buy Gold, because the current Bitcoin price is quite high to sell. Moreover, Gold is one of the oldest assets which has proven to be very good for holding in the long term. Sometimes to make us richer, we do have to invest in more than one asset. For now I invest not only in Bitcoin and Gold, but I also invested in Real estate which proved to be good for long term investment too. I am not sure about this because the gold price is also fairly high right now. I have been holding some gold index funds for a while now and think it might be better to take a profit in Gold rather than Bitcoin. If the corona pandemic is really over now than the stock market should be taking off again. I might switch my gold into stocks for now. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: jaberwock on March 18, 2021, 10:18:59 AM It's a very good idea to take some profit from Bitcoin to buy Gold, because the current Bitcoin price is quite high to sell. Moreover, Gold is one of the oldest assets which has proven to be very good for holding in the long term. Sometimes to make us richer, we do have to invest in more than one asset. For now I invest not only in Bitcoin and Gold, but I also invested in Real estate which proved to be good for long term investment too. I am not sure about this because the gold price is also fairly high right now. I have been holding some gold index funds for a while now and think it might be better to take a profit in Gold rather than Bitcoin. If the corona pandemic is really over now than the stock market should be taking off again. I might switch my gold into stocks for now. That is why I think it is quite important to realize gold is not really as valuable as it is right now, if we remove all the traders and just let regular buyers who use it to buy it physically, we will have a much much lower price for gold. But in the long run it will go up slight bit every year so people still invest into it. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: mindrust on March 18, 2021, 10:29:38 AM I think everybody should own some Gold whether they like it or not. It is like an insurance. Bitcoin is seen as an insurance too but there is still a possibility that bitcoin can fail but gold has proven its worth over 5000 years as the ultimate store of value.
Diversification is the key. Get some gold, get some crypto, get some FIAT, get some stocks, some real estate... Sell the one that has mooned and buy the one that is still cheap. Imo Gold is now very cheap. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: oHnK on March 18, 2021, 11:55:44 AM I think everybody should own some Gold whether they like it or not. It is like an insurance. Bitcoin is seen as an insurance too but there is still a possibility that bitcoin can fail but gold has proven its worth over 5000 years as the ultimate store of value. Diversification is the key. Get some gold, get some crypto, get some FIAT, get some stocks, some real estate... Sell the one that has mooned and buy the one that is still cheap. Imo Gold is now very cheap. Asset diversification is indeed a mainstay of large investors because by implementing a good portfolio strategy you can increase the wealth you have invested. Not only nowadays, but people have always used gold as one of their safe assets so that they can mitigate if the volatility of other assets is bad enough. However, the proportions given are quite difficult choices. Because the higher the return, the higher the risk. Gold is an asset that is quite low in risk compared to other assets and that is why the price of gold is not very attractive to invest in in the short term. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Trinx01 on March 18, 2021, 01:02:23 PM Investing in both assets is a good thing, there are a lot of benefits that we can have for investing in bitcoin and gold, but as of now I still haven't tried investing in Gold because I am still focused on bitcoin which is what I love and believe that it could still go up but now I am already planning to invest in Gold so that I could give it to my future children whenever I wasn't able to teach them about the crypto world.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: mindrust on March 18, 2021, 02:14:15 PM I think everybody should own some Gold whether they like it or not. It is like an insurance. Bitcoin is seen as an insurance too but there is still a possibility that bitcoin can fail but gold has proven its worth over 5000 years as the ultimate store of value. Diversification is the key. Get some gold, get some crypto, get some FIAT, get some stocks, some real estate... Sell the one that has mooned and buy the one that is still cheap. Imo Gold is now very cheap. Asset diversification is indeed a mainstay of large investors because by implementing a good portfolio strategy you can increase the wealth you have invested. Not only nowadays, but people have always used gold as one of their safe assets so that they can mitigate if the volatility of other assets is bad enough. However, the proportions given are quite difficult choices. Because the higher the return, the higher the risk. Gold is an asset that is quite low in risk compared to other assets and that is why the price of gold is not very attractive to invest in in the short term. You shouldn't see it as an investment. I mean, it is an investment but it is more of an insurance. There might be a time in the future where you'll need physical gold. I am not talking about the gold in your bank account. I am talking about a mad-max like scenario. Gold will be your hedge against the full system collapse. It is a life insurance. What happens when your home catches fire and you don't have an insurance? You'll lose your house and get nothing from anywhere to compensate the damages. The same idea applies. If the whole systems goes down and people go back to the gold standard, then you'll have 2 options: 1- You have some gold and survive. 2- You don't have any gold and die. You can apply the same logic to bitcoin as well. If the whole world wants to use bitcoin as the new reserve currency, it is probably good idea to have some around. Diversification... Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: conected on March 18, 2021, 04:37:43 PM I think everybody should own some Gold whether they like it or not. It is like an insurance. Bitcoin is seen as an insurance too but there is still a possibility that bitcoin can fail but gold has proven its worth over 5000 years as the ultimate store of value. - There's no denying that gold has been a very good asset over time but because we consider it as a store of value, that makes the price of gold relatively stable every year and if we invest too little, profits cannot be satisfied according to our needs, more investment will make us do not have the capital to diversify investments. So, before we confirm the idea of buying gold, we should look at our total capital, if it is really not enough for too many types of investments, bitcoin is still a choice that offers more opportunities regardless its risksDiversification is the key. Get some gold, get some crypto, get some FIAT, get some stocks, some real estate... Sell the one that has mooned and buy the one that is still cheap. Imo Gold is now very cheap. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: wheelz1200 on March 18, 2021, 10:34:34 PM Yeah bitcoin has definately gained ground. There will always be a space for fine metals and gold is king. For me I always think buying any long term investment amongst a nice dip is always smart. Buying multiple asset classes is smart. No need for full exposure with just one asset and leave yourself apt for some wrecked years.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: AndySt on March 18, 2021, 10:53:21 PM Yeah bitcoin has definately gained ground. There will always be a space for fine metals and gold is king. For me I always think buying any long term investment amongst a nice dip is always smart. Buying multiple asset classes is smart. No need for full exposure with just one asset and leave yourself apt for some wrecked years. The classic rule that you should not keep all your eggs in one basket should be the law for any investor ;) It's just that bitcoin and other cryptocurrencies have now been added to the classic market assets such as bonds, stocks, and precious metals. One thing, of course, will not replace the other, and you should not have any illusions about this, so the diversification of the investment portfolio and the determination of the shares of assets in the portfolio should be the main task of the investor.Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: South Park on March 19, 2021, 01:09:57 AM It's a very good idea to take some profit from Bitcoin to buy Gold, because the current Bitcoin price is quite high to sell. Moreover, Gold is one of If you are going to do something like that then make sure that you are fine with holding your gold for decades, people already have some problems holding their bitcoin but gold takes an even longer amount of time to show great profits, time that you could have used to invest in something else and then make money that way as well, however investing in gold is one of the safest options there are and can be extremely profitable if done at the right time.the oldest assets which has proven to be very good for holding in the long term. Sometimes to make us richer, we do have to invest in more than one asset. For now I invest not only in Bitcoin and Gold, but I also invested in Real estate which proved to be good for long term investment too. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: oHnK on March 19, 2021, 01:33:38 AM You shouldn't see it as an investment. I mean, it is an investment but it is more of an insurance. There might be a time in the future where you'll need physical gold. I am not talking about the gold in your bank account. I am talking about a mad-max like scenario. Gold will be your hedge against the full system collapse. It is a life insurance. What happens when your home catches fire and you don't have an insurance? You'll lose your house and get nothing from anywhere to compensate the damages. The same idea applies. If the whole systems goes down and people go back to the gold standard, then you'll have 2 options: 1- You have some gold and survive. 2- You don't have any gold and die. You can apply the same logic to bitcoin as well. If the whole world wants to use bitcoin as the new reserve currency, it is probably good idea to have some around. Diversification... Maybe I am getting too used to seeing all assets as investments. Indeed, on the other hand, the assets we have can be used as insurance for life today. The investment concept is the same as the advanced version of savings. When talking about savings as life insurance, this is the basic thing that everyone thinks. Indeed, the fact is that by having assets such as gold and bitcoin, the bad conditions we experience can be covered by assets that we have set aside from all the necessities of life. Income = Expenses - Saving. With this concept, life can be maintained in the future. And if you choose the type of asset, the financial concept is used so that it can generate great benefits. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: jaysabi on March 19, 2021, 02:08:34 AM I think everybody should own some Gold whether they like it or not. It is like an insurance. Bitcoin is seen as an insurance too but there is still a possibility that bitcoin can fail but gold has proven its worth over 5000 years as the ultimate store of value. Diversification is the key. Get some gold, get some crypto, get some FIAT, get some stocks, some real estate... Sell the one that has mooned and buy the one that is still cheap. Imo Gold is now very cheap. Asset diversification is indeed a mainstay of large investors because by implementing a good portfolio strategy you can increase the wealth you have invested. Not only nowadays, but people have always used gold as one of their safe assets so that they can mitigate if the volatility of other assets is bad enough. However, the proportions given are quite difficult choices. Because the higher the return, the higher the risk. Gold is an asset that is quite low in risk compared to other assets and that is why the price of gold is not very attractive to invest in in the short term. If the whole systems goes down and people go back to the gold standard, then you'll have 2 options: 1- You have some gold and survive. 2- You don't have any gold and die. This takes too many things for granted to be accurate. First of all, being on the gold standard just means the currency is backed by gold. If we "went back to the gold standard" that wouldn't mean you need gold to operate in the system since your currency would be redeemable for gold. Further, people without gold wouldn't simply die for a lot of different reasons. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: mindrust on March 19, 2021, 07:46:52 AM This takes too many things for granted to be accurate. First of all, being on the gold standard just means the currency is backed by gold. If we "went back to the gold standard" that wouldn't mean you need gold to operate in the system since your currency would be redeemable for gold. Further, people without gold wouldn't simply die for a lot of different reasons. I didn't want to mean that you die, literally. You'll die financially. If gold becomes the main thing again, gold will shoot up and everything else will be worthless compared to it. You'll want that gold backed currency but how are you gonna get it if your whole assets collapsed against gold and you have no gold? Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: OROBTC on March 19, 2021, 05:22:12 PM This takes too many things for granted to be accurate. First of all, being on the gold standard just means the currency is backed by gold. If we "went back to the gold standard" that wouldn't mean you need gold to operate in the system since your currency would be redeemable for gold. Further, people without gold wouldn't simply die for a lot of different reasons. I didn't want to mean that you die, literally. You'll die financially. If gold becomes the main thing again, gold will shoot up and everything else will be worthless compared to it. You'll want that gold backed currency but how are you gonna get it if your whole assets collapsed against gold and you have no gold? Gold standard or not, owning some physical gold is just smart. Diversification. Owning some BTC is just smart too, BTC and Au have different "fundamentals" so each is good diversification. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: SquallLeonhart on March 19, 2021, 07:18:05 PM I am not sure about this because the gold price is also fairly high right now. I have been holding some gold index funds for a while now and think it might be better to take a profit in Gold rather than Bitcoin. If the corona pandemic is really over now than the stock market should be taking off again. I might switch my gold into stocks for now. Gold prices are not at the peak right now, it dropped a bit, I think it will not be like this for a long time but it also did dropped a lot so we can't argue that we should take out our profit right now. If you took it out during the peak I wouldn't be against it, but you could wait a bit more if you ask me.However if you are going to end up buying bitcoin with that money I would suggest you to do it right away, bitcoin will always move faster than gold, gold is very slow whereas bitcoin is very volatile. I am sure during a period when gold goes up 50%, bitcoin could drop 50%, increase 3x, drop another 30% and increase another 3x and it would still have time left as well. That is why if you are going to buy bitcoin with that money you could sell your gold, but if you are just waiting to get back into gold, then I would say being a bit more patient. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: cabalism13 on March 19, 2021, 07:55:29 PM Imo Gold is now very cheap. Might that depends on a place? Gold here is still pricey and more valued than Bitcoin or any form of currency.So investments on gold here is not an option, people here might just want to invest on land. You'll want that gold backed currency but how are you gonna get it if your whole assets collapsed against gold and you have no gold? Good Question, but too far from reality as we are already out on Stone Age :P most of the people now wants that piece of paper than anything.Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: mindrust on March 19, 2021, 08:18:45 PM Imo Gold is now very cheap. Might that depends on a place? Gold here is still pricey and more valued than Bitcoin or any form of currency.So investments on gold here is not an option, people here might just want to invest on land. It is cheap if you are earning Euros or Dollars I guess. If gold is very expensive in where you live, probably everything is expensive for you. Land is good too. I don't know which country you are in though. If you are planning to retire in your country and you are buying your land there, yeah it is also a good investment. You'll want that gold backed currency but how are you gonna get it if your whole assets collapsed against gold and you have no gold? Good Question, but too far from reality as we are already out on Stone Age :P most of the people now wants that piece of paper than anything.It doesn't necessarily mean "returning to the Stone Age" While we are speaking right now, it is possible that the central banks are working on a new digital currency that operates on a blockchain and backed by gold. That's just speculation of course I have no insider information. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: cabalism13 on March 19, 2021, 08:27:20 PM Imo Gold is now very cheap. Might that depends on a place? Gold here is still pricey and more valued than Bitcoin or any form of currency.So investments on gold here is not an option, people here might just want to invest on land. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: hulla on March 19, 2021, 08:47:29 PM Since the bullish of Bitcoin market seems to impact the dump in price of Gold i believe this is also the chance to accumulate some Gold but not through Gold standard monetary system which the fiat may experience devaluation and if this system seems not to be a failure Satoshi wint have create Bitcoin in the first place.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: oHnK on March 20, 2021, 07:49:08 AM Quote from: mindrust link=topic=5317999.msg56605715#msg56605715 It is cheap if you are earning Euros or Dollars I guess. If gold is very expensive in where you live, probably everything is expensive for you. Land is good too. I don't know which country you are in though. If you are planning to retire in your country and you are buying your land there, yeah it is also a good investment. Yeah, that could be a good one only if in Euro or USD, and only rich families can afford that Golds. Anyways, unluckily I'm from Philippines where most people are too dumb to realize something important and from what I see on the economy right now, Land is the only thing to have a good investment with, good thing I have known crypto even if it's a bit late on 2018.Although land investment is quite good, this asset is not liquid, because there are many factors in it. Such as geographic factors and price factors that are not fixed and price determination is only through negotiation. If gold is too expensive, perhaps it is best to buy crypto assets apart. Because seeing the many comparisons, gold is cool but it is too old if investing in an insurance context always ends in gold because at this time. Printing of money is not even guaranteed by gold anymore. So what's interesting is Bitcoin and other crypto assets. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: jaysabi on March 21, 2021, 04:03:52 AM This takes too many things for granted to be accurate. First of all, being on the gold standard just means the currency is backed by gold. If we "went back to the gold standard" that wouldn't mean you need gold to operate in the system since your currency would be redeemable for gold. Further, people without gold wouldn't simply die for a lot of different reasons. I didn't want to mean that you die, literally. You'll die financially. If gold becomes the main thing again, gold will shoot up and everything else will be worthless compared to it. You'll want that gold backed currency but how are you gonna get it if your whole assets collapsed against gold and you have no gold? I guess I would say that gold was never the main thing. Even when fiat was back by gold, nobody transacted in gold, they transacted in fiat. The fiat was redeemable for gold, but that was rarely ever used compared to the number of transactions in fiat overall. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: sujon5 on March 21, 2021, 06:57:00 AM Bitcoin outperforms gold because it's a rarer asset. That's why I'd rather invest in digital gold.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: mindrust on March 21, 2021, 08:08:16 AM This takes too many things for granted to be accurate. First of all, being on the gold standard just means the currency is backed by gold. If we "went back to the gold standard" that wouldn't mean you need gold to operate in the system since your currency would be redeemable for gold. Further, people without gold wouldn't simply die for a lot of different reasons. I didn't want to mean that you die, literally. You'll die financially. If gold becomes the main thing again, gold will shoot up and everything else will be worthless compared to it. You'll want that gold backed currency but how are you gonna get it if your whole assets collapsed against gold and you have no gold? I guess I would say that gold was never the main thing. Even when fiat was back by gold, nobody transacted in gold, they transacted in fiat. The fiat was redeemable for gold, but that was rarely ever used compared to the number of transactions in fiat overall. You should be pretty illiterate to say something like this. Gold has been the main thing for over 5000 years. It still is. Maybe some people don't realize it now... but people can change pretty quickly. Once the paper manipulation goes down and gold raises its head, people will pile up. https://i.imgur.com/fctL2Uq.png https://www.federalreserve.gov/data/intlsumm/current.htm Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: angrynerd88 on March 21, 2021, 06:29:15 PM Past period individuals consider gold as extraordinary resource to HODL but presently Bitcoin most prevalent any else.Investing on Gold is continuously a great thought and why not you as well contribute on it, It is obligatory to hold few hundred grams of Gold in or reserve funds all the time for crisis needs when nothing is sold as Gold. I figure a few of the wealthy individuals are moving to BTC from Gold that's why the cost is dropping but still gold remains within the beat of add up to marketcap and it merits it.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Myleschetty on March 21, 2021, 07:23:33 PM I also see Gold to remains as an extraordinary resource to hold as reserve asset but the FOMO make alot of institutional investors to see Bitcoin as an alternative to make a perfect profit within a short period but Gold price will shoot up soon.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: AndySt on March 21, 2021, 11:50:20 PM Past period individuals consider gold as extraordinary resource to HODL but presently Bitcoin most prevalent any else.Investing on Gold is continuously a great thought and why not you as well contribute on it, It is obligatory to hold few hundred grams of Gold in or reserve funds all the time for crisis needs when nothing is sold as Gold. I figure a few of the wealthy individuals are moving to BTC from Gold that's why the cost is dropping but still gold remains within the beat of add up to marketcap and it merits it. Undoubtedly, gold will retain its position, but it is still worth considering that for small investors in the form of individuals, operations with physical gold are some inconveniences, and yet gold in physical form is still more convenient for large investors. Therefore, for the convenience of such investors, it is quite possible to recommend, for example, the purchase of gold coins, but not gold bars, or some investment instruments derived from gold, such as metal accounts in financial institutions, etc., etc.Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: South Park on March 22, 2021, 01:44:36 AM Past period individuals consider gold as extraordinary resource to HODL but presently Bitcoin most prevalent any else.Investing on Gold is continuously a great thought and why not you as well contribute on it, It is obligatory to hold few hundred grams of Gold in or reserve funds all the time for crisis needs when nothing is sold as Gold. I figure a few of the wealthy individuals are moving to BTC from Gold that's why the cost is dropping but still gold remains within the beat of add up to marketcap and it merits it. Undoubtedly, gold will retain its position, but it is still worth considering that for small investors in the form of individuals, operations with physical gold are some inconveniences, and yet gold in physical form is still more convenient for large investors. Therefore, for the convenience of such investors, it is quite possible to recommend, for example, the purchase of gold coins, but not gold bars, or some investment instruments derived from gold, such as metal accounts in financial institutions, etc., etc.Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Spaffin on March 24, 2021, 03:32:55 PM Buying gold is fine, but the profits from gold from holding gold over the long term will not be equal to Bitcoin. Consider the year 2011 when gold reached $ 1900 Bitcoin was only $ 10 and now gold is $ 1750 while Bitcoin is worth $ 55,000. In addition to the faster increase in value, Bitcoin is much easier to use and manage than gold. You can not keep $ 10 in gold without the thief's eyes or the scrutiny of relatives and friends. Currently, I still considered gold as a reliable storage, since Bitcoin is still very volatile and I cannot use it as a reliable storage. Of course, Bitcoin can be profitable, given the growth of the exchange rate in the cryptocurrency market, but I share two different concepts, like savings and an asset for profit.For me, Bitcoin is still better. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: South Park on March 25, 2021, 06:23:39 AM If you are going to try to use gold as a hedge against inflation then you better use the real thing instead of a paper asset, the companies selling those paper assets promote those gold certificates as being as good as gold and maybe that is the case when things are still fine but when things get ugly and you want to get your gold you will find out that they never had that gold on the first place and they have to buy it at the current market rates which at that time will be way higher than what they are now. By the way, similar considerations also surfaced in my head when I wrote my comment, because I am also a realist and in addition to the ideal development of the situation, I also try to keep in mind a not so favorable scenario for the development of the situation ;) But I still think that with the situation not so apocalyptic for the economy, my proposals for investing in gold are quite viable ;)Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: (o)(o)ilikeboobs(o)(o) on March 25, 2021, 03:46:38 PM Buying gold is fine, but the profits from gold from holding gold over the long term will not be equal to Bitcoin. Consider the year 2011 when gold reached $ 1900 Bitcoin was only $ 10 and now gold is $ 1750 while Bitcoin is worth $ 55,000. In addition to the faster increase in value, Bitcoin is much easier to use and manage than gold. You can not keep $ 10 in gold without the thief's eyes or the scrutiny of relatives and friends. Currently, I still considered gold as a reliable storage, since Bitcoin is still very volatile and I cannot use it as a reliable storage. Of course, Bitcoin can be profitable, given the growth of the exchange rate in the cryptocurrency market, but I share two different concepts, like savings and an asset for profit.For me, Bitcoin is still better. Gold has existed for thousands of years, and our ancestors have accumulated them steadily over time. What they do is the truth until another asset appears, Bitcoin. Bitcoin is new because it has only been around for the past 12 years. It takes a long time to test their validity. I think keeping both gold and Bitcoin is a safe and balanced option. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Clairvoyance on March 25, 2021, 06:45:46 PM Quote Would it be an interesting idea to take some profits from BTC recent gains and buy some gold? Gold is the oldest asset I know of, and it will certainly hold value over the next years to come. Yes, diversifying your investment is a good practice. Bitcoin will definitely grow more in value as massive adoption take place whilst gold which is a much stable and safer investment though it will not yield as much but it is a guaranteed profit. Take a look at this Analysis (https://www.tradingview.com/chart/BTCUSD/Wz8qZwtR-BTCUSD-XAUUSD-ratio-secrets/): A price comparison of BTCUSD/XAUUSD When Bitcoin gains momentum the chart shows gold somewhat static in that regard. It goes to show that the two are clear indicators of one another. Therefore, between Bitcoin and XAU the ratio (https://www.tradingview.com/chart/BTCUSD/7vRYjSKn-Bitcoin-vs-Gold-ratio/) widens by large margin as the years progress. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Ewox on March 26, 2021, 07:05:50 AM I think it would be a good idea to invest in some gold too other than Bitcoin, and since gold has been here longer than Bitcoin; it would be safe for us to also invest in it although the price sometimes deflates just like Bitcoin but it is also an old form of money too. I don’t think gold will ever go extinct for as long as people still buy them, same goes with Bitcoin. And that was also one reason why I bought some small amounts of gold when I profited from the Bitcoin investment I had way back in 2017.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Emitdama on March 26, 2021, 06:55:19 PM Sure that would be a good thing to do, if you have enough and you want to invest in gold, then you can do that. Gold holds a lot of value and even if it’s going down now there is the possibility of it going up again in future.
I have invested in gold once, but didn’t take long before I discovered Bitcoin and decided to switch so I can focus more on Bitcoin. But before now, gold has always been my favorite investment and holding it then gives me a lot of joy, only Bitcoin was able to change that lol. I’m still looking forward to buying gold again, and maybe that I have seen this topic I might start looking into it and if it reaches a low that I’m comfortable with I might go ahead and buy it. Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: hahay on March 26, 2021, 07:00:00 PM I did this but what happened after I bought gold a few weeks ago, it looks like the price of gold has continued to decline until now but I don't really care about it because I only believe about the recovery and the next pump. Buying gold from bitcoin profits is a good idea but still, you have to do your research first because otherwise you will have to wait longer to get profit from investing in gold.
Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: South Park on March 30, 2021, 07:56:19 PM I did this but what happened after I bought gold a few weeks ago, it looks like the price of gold has continued to decline until now but I don't really care about it because I only believe about the recovery and the next pump. Buying gold from bitcoin profits is a good idea but still, you have to do your research first because otherwise you will have to wait longer to get profit from investing in gold. Investing in gold is definitely not a bad idea since I really think is going to do well during the next decades, the problem is how long you have to hold your gold in order to obtain significant profits, that is something that is going to discourage a lot of young people and I think they would prefer to own bitcoin not only because the profits can be bigger and can be gotten way faster but also because bitcoin is digital, which is something in which they have a lot more experience than something that seems old-fashioned like gold.Title: Re: "Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? Post by: Fortify on March 30, 2021, 10:00:57 PM In my opinion gold is a useful asset for some precious metal diversity - it seems wise to mix it with silver, platinum, palladium and a few others that have become rather useful over the years. 5% of a wider portfolio seems fair, you might even want to hold gold ETF's that allow easier trading. Over the long term gold will do ok because it always has a market as a reserve form of value for people who don't have easy access to a bank account and it also has many industrial uses. It seems that the amount being extracted keeps the price suppressed, whereas we all know there is a fixed supply of Bitcoin. That makes Bitcoin a rather useful asset that can beat inflationary pressure seen elsewhere. The one big obstacle that I found with gold was the practical side during a pandemic. There was a global worldwide emergency that actually restricted people from being able to physically trade gold in person - I am simply not comfortable shipping off gold via the post which was the alternative at the time. This really highlighted a weakness to me in holding these physical assets, although it does seem rather limited to pandemic conditions only.
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