Bitcoin Forum

http://www.ahametals.com/gold-companies-rushing-into-bitcoin/ (http://www.ahametals.com/gold-companies-rushing-into-bitcoin/)

Very interesting article, thank you for sharing.
I really hope Bitcon became mainstream in the future.
This part is specially interesting: Is gold going the way of bitcoin?

Most important and enlightening part of the article. Bring on the ETFs, the Gold Bugs, companies offering discounts for using Bitcoin and whatever else = market cap going^

Where investors see oppertunity , they will come. So far bitcoin had increased publicity which bring more people, but there allways seams to be more and more bad news associated with bitcoin.
I believe we have huge amount of observers and lurkers, rather than investors.
Would you invest your capital into something that can be stolen from you in a second ? I think not.

Bitcoin needs some defense against acts of theft, only then will we see real capital  poured here.

Bitcoin is barely starting its own way, it is just evolving, with time we will discover how to protect ourselves.

Gold, Oil, Shares, buy now before is too late !

Your welcome, Sure bitcoin is going mainstream soon with its high potential in the current market.
Good News is Bitcoin will reach at $1k by the end of the year with its continuous price soar on a daily basis.
 

If this is true, I'm holding. Holding, holding, holding.

I won't mind it if it continues upwards, and even if it's only $500/year increase, I'm 100% happy with that. Great time to amass some BTC and then make some good profits.

Bitcoin going mainstream wouldn't be bad either, as I would then be able to send my BTC at more places. But I already said I'm holding, so that is out of the question.

It would make the price rise and get more people into it, and the value would keep going up, so I think that's all right if it does go mainstream.

And then the conspiracy theorists would be all over it.

I strongly agree! If bitcoin can take any meaningful amount of market share away from gold then it's price will go up, creating more interest in bitcoin, causing more merchants to wish to accept bitcoin, causing more people to start using bitcoin to purchase things.

I've been using portions of my mined BTC to buy in on silver and gold from amagimetals actually so i'm not all to surprised gold companies are doing the same with BTC they go hand in hand.

Sure, if bitcoin takes meaningful market share from any liquid market, it's price will rocket. But I don't quite understand how gold and bitcoin are similar. Is this just based on limited supply?

...

My thinking is that BTC and gold compliment each other nicely.  I have some BTC, but I own more gold, having bought on-and-off since the 1980s.

I have even bought gold with BTC (from goldsilverbitcoin.com (http://goldsilverbitcoin.com)), see my article from December:

http://goo.gl/pJM7UE

There are at least THREE other online companies who sell gold coins for BTC.

***

I am becoming more convinced that BTC is reasonably safe, stable and secure.  And OK for even beginners like me (with proper homework).  I am actively trying to increase by BTC holdings and to learn to obscure my trail from any nosy types (mixing services, a used computer from the pawnshop paid with cash, etc.)...

While I agree that BTC was created for transactions (and cheap fees as a bonus), BTC has a real role as a Store of Value (albeit volatile over any short-term) as well as giving anyone the ability to quietly move your wealth almost anywhere you want.

I think the perception is that they are similar. Both are viewed as a quasi currency that exist outside the realm of traditional banking and both are seen as an inflation hedge.

I see them as quite different myself.

They are similar in that they both are a hedge against inflation and both have some level of use that it can provide.

5% of the gold market right now would make each bitcoin worth about $27000

It will probably happen sooner or later.

Do you know they can soon buy bitGold on the BitShares Blockchain?

It isn't a stretch to see it getting that far in the next 5 years or so. Especially if the etfs and oil rumors start happening. 

gold is getting killed by the etfs and gold exhanges which dont have gold but paper gold
there is about 100 contracts of paper gold to 1 physical in the paper exchanges
making the price of gold artificially low
bitcoin should avoid or be careful of making these paper exchanges where price is discovered

not sure if that is good, bad, or indifferent for bitcoin.

Very nice read. More people should read this.

Honestly, I'd say good. In theory, bitcoin could become gold 2.0. A lot of things would have to happen though.

It's really a good article. If more and more companies are involved soon bitcoin will be the mainstream in the current market.

Obviously I am a fan of bitcoin and hope the price goes up.  While I think it's great that more companies are looking into trading bitcoin I don't think it will have much acceptance as a gold substitute.  While I think of bitcoin as "electronic gold" the simple fact is that it's price is far too volatile to be a good store of value at this point.  Maybe some day, but not anytime soon.  Most defenses of bitcoin's value I see now are focused on the value of the network.

I do worry that the rise of ETFs, which I think are great and will help the price, may encourage more fractional reserve type activities that in turn bring bitcoin additional negative attention.

Cool, thanks for the share. Hope BTC really becomes like gold in futue :)

Well if it was true, the BTC price, would have skyrocketed to $10 000+ per BTC

If only a small percentage of the gold investors convert to BTC you would see the biggest rise in the BTC price, since it's existence.

But people love the shiny yellow metal too much. {They need to invest in something they can touch, even if they cannot lift it.} ;D

I see loads of companies targeting BTC hoarders to buy gold and that worries me, more.    

I think it is feasible for every investor to have small portion invested in bitcoin, especially gold bug could embrace the idea of bitcoin. There is so much upside in bitcoin, and bitcoin should work as a very good diversification strategy for open minded investors.

If goldcompanies were rushing then the price wouldn't have been stagnant for this long. These are articles that are trying to hype things a little extra which isn't bad really.
Fact is we are in range $400 - $670 range for already 7 months. Hopefully september can bring some change and take us above $700 again.