Bitcoin Forum

gold:
https://pbs.twimg.com/media/B-qTMOPUEAA42I_.png

bitcoin:
https://pbs.twimg.com/media/B-qTMdzVIAAlkDu.png

Striking similarity. I thought it's worth sharing.


seen here: https://twitter.com/CryptOrca/status/570430146433437696

Nice observation.

http://media.tumblr.com/tumblr_m0nlwiuBkV1qzogo3.gif

All bubbles look like that.


Some bubbles recover (NASDAQ at the dotcom bubble, gold) some don't (South Sea Stock, Tulips, Beanie Babies, Random Penny Stock Pump&Dumps, shitcoins).


That shape alone doesn't tell you whether a bubble will recover or not.

The similarity will end going forward. Bitcoin will continue its death march to zero, while gold maintains and even increase its value.

I'll not listen to you.  We are Bitcoiners!

https://media.giphy.com/media/GNQSWovPVcx7W/giphy.gif

do you happen to be an alt of legendary member kwukduck? some members can't seem to stop with spreading negativity. they use plenty of low activity accounts to do so.

Except bitcoin has never been in a bubble.  That is decades away.

Nice observation OP. Good times ahead for bitcoiners. :)

We cannot compare the two charts , the first one " 1970 - 2011" the second (bitcoin) 2009 - 2015. Bitcoin is like gold (yes it is 'like' not identical).

Are those pinksheets?  How dare you compare Bitcoin to those pump and dump junk stocks.

Why?

A lot of penny stock pump&dumps end up at $5-$10 billion marketcap before crashing.

Guess where bitcoin is and was at around $1000 in terms of marketcap.

Woops  ;D

I'll not listen to you.  We are Bitcoiners!

https://media.giphy.com/media/GNQSWovPVcx7W/giphy.gif

Wow, nice work! Never thought of this. But thats very cool to see.

I wonder what those Bitcoin bashers even do here in the forum  ::)

It actually is quite an interesting comparison. Of course it is much too early to actually tell whether Bitcoin will go the same way. But it shows one thing: Assets are (at times) more than able to recover and even achieve new highs! Also, you might want to take a look at AMZN or even AAPL when it comes to assets 'returning from the dead' - I don't even consider Bitcoin dead, actually...

ath of bitcoin was faked by willy bot, and unless willybot was playing with those rubbish stock too, i don't think there is much to compare

bitcoin is actually rising, despite the recent down-trend

those charts share somehow the same beginning, but how they will evolve will be different without question

I do not think it is rising (if we compare it to the old 1'000 dollars per bitcoin). However until one bitcoin will be valued 0.01 $ I think it is more better than other alternative.

Judging from optical comparison alone there's certainly a high degree of similarity. But I don't think it's appropriate to draw conclusions from optical similarities for these reasons:

1. The charts have entirely different time spans: Gold >30 years, Bitcoin 10 months.

2. Being allowed to pick an arbitrary amount of data from an arbitrary asset and from arbitrary points in time to compare it to equally arbitrary data from another asset has a 100% probability to find similarities if you search for them.

3. Gold and Bitcoin are not from the same class of assets. At least, gold has been and is subject to intervention from central banks - it's not a free market.

4. Past results are not an indicator of future performance. You will find other charts (already posted in this thread) that will also look similar to Bitcoin's current chart but will show a totally different future projection.

ya.ya.yo!

The difference? the time in the charts...
IF the trend keeps up (yes it's extremely similar) we have a good time up ahead, but, if it continues to follow the trend expect it to fall over again. And then we wait, 30 odd years lol....

We'll see what happens, I have faith holding over 100BTC with small sells at a time.

Looks like quite an old gold chart that one. But I guess the point is yes bitcoin can recover from a bubble, as gold has done and bitcoin has already before.

With each bubble eventually looking like a tiny bump compared to the next. Get ready for take offfff

http://www.tylervigen.com/correlation_project/correlation_images/us-spending-on-science-space-and-technology_suicides-by-hanging-strangulation-and-suffocation.png
That is all.

spurious correlations are fun!
http://www.tylervigen.com/

Well if its such a similar comparison, why the value so damn low?

Because the demand of all that use would see more people repurchasing btc right if its like based on daily usage or whatever. But, yeah gold had more duration time obviously so its pretty huge that bitcoin is doing it in 10 months then years.

Yes, and that's actually the only valid point we can gather from that chart. If you take a loot at the other charts posted on the last page, you can see that a lot of investments that had a bubble-period also tend to "pop" and never recover. I guess the jury is still out on Bitcoin's future, but I think it is at least reasonable to include both possibilities into your considerations.

in the sense that it is rising per day, look at the grand scale of the chart, not just the peak


basically looking at another graphic to tell how another one will go, is bullshit, because they all seems the same apparently

Yes, but do you have the log version of this chart?

Alright, I'll just answer this seriously... With banks you don't necessarily trust some random bankers with your money. The banks are still governed by certain rules and regulations. With a regular savings account, "bankers" can't just go and do whatever they like with your money. There are safety nets and insurance funds in place in case that a bank has to fold. Bitcoin is still much more risky (although potentially more profitable - otherwise no one would be invested in it, right?).

You must have missed the financial crisis of 2008.

It always depends on which financial products you use. In the EU there are perfectly fine insurance funds and policies that guarantee private customers that they won't lose any money. I believe Germany even gave out guarantees backed by the state itself that funds, up to a certain limit, will be safe from any potential collapse of a bank.

Until you realize that there is not enough "funds" in these insurances to cover a multibank failure. Also are you not read up on the most recent G20 meeting about worldwide bail-in's ("hair cuts") in the case of the next bank failures?

I was also under the impression that personal savings were rather safe, at least in Europe. Multi-bank-failures can be a bit tricky, sure. But do you really think it will come to this? What do those "hair cuts" imply, if they should happen, can you elaborate?