Bitcoin Forum

As of this post gold is trading at $1234 an ounce and bitcoin is trading at $1021.

Any of you want to speculate on when bitcoin will surpass the price as gold?

Commodity prices for reference: http://finance.yahoo.com/commodities (http://finance.yahoo.com/commodities)

With each passing day the bitcoin market supports a greater use of the cryptocurrency as an asset class/store of value over an actual currency. I don't see much growth in opportunity to use bitcoin as currency - maybe you are witnessing different. I genuinely think bitcoin's future is in investment, not currency.

There's already a thread dedicated to this.

https://bitcointalk.org/index.php?topic=1776981.0

It's also been beaten to death in the Wall Observer. Be prepared to be flamed for arbitrarily choosing a troy ounce as the default gold unit.  :)

Jimbo, thanks for sharing the other thread. I didn't know one existed.

It's really funny that people are bitching about the unit size of gold as a comparison. The Troy Oz is the most recognized unit of measure for gold as an investment. I suppose the alternative is grams? I'd love to find out what the argument against Oz is.

Locking thread.

It's hard to say because people could shift to gold for some of the same reasons that they would shift to Bitcoin (from stock, bonds, etc.). I think Bitcoin does have more potential to increase more just because there is a limited supply. It could take a few years though.

The price for gold is growing much slower than for bitcoin's price> so bitcoin will cross gold's price very soon, maybe this or second month already. Bitcoin and gold have many things in common and i think that the high price is going to be something common as well.

Nobody knows. Bitcoin's price doesn't grow linearly (those people talking about only 700-800 at the end of 2016 were very wrong because of that!), and neither does gold's. My best guess is it'll take four or five years for it to finally surpass gold, but in reality bitcoin could surpass it tomorrow, even though the odds of that happening are low.

Dont expect this to happend before the end of the year. By now theres a lot of water going under the bridge, the Chineses are playing with that big issue of not being able to withdraw bitcoins. After that thing is solved, then maybe we can surpass the gold price if the global media helps with a lot of news of bitcoin hitting it ATH.

I agree with you . development and bitcoin price movements much faster than gold. gold and bitcoin can be used as a profitable investment. but for me to invest with bitcoin is much more profitable than investing in gold. we have to look at in terms of where to compare a gold and also one Bitcoin.  ??? ???

it really doesn't matter much if bitcoin price and gold come to parity or whatever. it is just a number.

the important thing about price of bitcoin is how it is changing, and so far bitcoin has been rising and being profitable but gold has not been even remotely profitable as bitcoin. and there will be no way gold can be as profitable.

Though these were just numbers, it has values. Gold has got a increased price compared to bitcoin based on the quote from Op. The profit earned with bitcoin is higher than gold, because gold has a stable price which gives a guaranteed profit after a long term but with bitcoin the same can be earned even in a weeks time as the price variation happens often.

I feel it shall outdate gold very soon not only in price comparison but also as a saving tool. People prefer gold cause it's gives you a good return and good price but I feel over the years it's to stagnant. Look at Bitcoin it goes up and comes down. Gives you a chance to get in and make some money. I would and I actually dp suggest people to get into Bitcoins. As a financial planner I have asked my clients to move 5-10% of their corpus in Bitcoins and they are loving it. Gold for me is a thing of the past, no point now investing in it.

gold price incraese constant although onlye few incraese price
bitcoin very high incraese but fluctuative price sometime down price is crash, if nothing crash bitcoin price can easy above to gold price , but is imposible bitcoin not down price always incraese

Yes indeed now bitcoin have been considered because it has almost the same price as gold. It proved there are many people who previously use gold became interested in bitcoin. But it requires a fairly long time for bitcoin prices could surpass gold prices, even bitcoin prices could fall at any time so it is not permanent. Need a little more development so that it can happen, and I'm sure one day bitcoin will be better than gold. And I agree with you that bitcoin is more suitable for investment in the future.

if people start finding out about bitcoin more, and if the FUD stops spreading by idiots who spam everywhere, then bitcoin price can easily go much higher, surpassing Gold price.

and soo nwe will be talking about when price of bitcoin surpasses price of 1 ton of Gold not an ounce!

FUD will only stopped getting spread when participants in the market would learn to ignore that.
But in the history of trading and investing this never happened.There will always be people believing even the dumbest shit.
Therefore FUD will exist forever and be used to influence the market.

bitcoin has surpassed gold in the past and the last pump wasn't $1160 or more? they had almost the same price but their marketcap is very different gold is a monther there bitcoin still too small, i would look at that more


gold price do not increase costantly, it was below 1000 not long time ago and it has recovered to above $1000 after few months, now it's stagnant

BY what means, we are comparing 1 ounce gold prices with 1 bitcoin prices ?
It is just a physiological comparison as we are referring bitcoin as gold 2.0 or digital gold. There would be no logical relevance between these two.

Bitcoin is being predicted to have more demand in near future whereas bitcoin demand may remain same. Hence bitcoin will be having prices in millions but hardly in next 5 years gold may reach $1500 or $2000 levels.

Bitcoin might surpass golds value but regarding volume i could say bitcoin wont stand a chance in my own opinion. Gold price is somehow stable as of these days which we could able to see that its also a good investment it may fluctuate but a very very small amount unlike bitcoins price movement.

Gold is a physical valuable object while bitcoin isn't judged on it's value in this way.
So I don't see how they can be compared in this way. :-[

Comparing bitcoin and gold is as comparing dollar and gold. Bitcoin is is a crypto currencies were as gold is physical commodity. In  terms of value I think bitcoin several times has surpass the price of gold and when bitcoin got to the level gold is today in terms of age then expect it price to be millions ahead of gold. We should know now that bitcoin is the new brides of investors.

I agree with the fact that bitcoin being a new entrant it still needs time for people to start investing heavily into it .The valuation of bitcoin will surpass gold in a matter of time and the main attraction is because of the limited supply,the price could triple from the current evaluation .

Spain looted central and south america for centuries because of their gold and US got the gold from Spain by sending the pirates to steal them.
Now you can sit in your house and have access to gold without waging wars and killing people, yes you can mine bitcoin then sell for gold or first for fiat and then buy gold, you could even give cows and eggs to trade with gold if that counts :) now can you tell me how much gold can you buy with 1BTC? then calculate how much did it cost you to mine that 1 coin. did you get my point? if bitcoin price is $1000 and you just mined 1 bitcoin by spending $700, and if you can buy 10 grams of gold with $1000 could you go and mine 3 grams by spending 7 grams of that gold?


I'll make it simple for you can you buy more gold with spending the gold that you already have?
Can anyone give 10 grams of gold to someone else and then receives 20 grams after a few weeks?

You can spend money on mining bitcoin and then have more money later, show me anything similar and I'll jump on it.

Although bitcoin did well in 2016, but the scale and depth of the encryption of the currency market, compared with $7 trillion in gold market, just pale into insignificance by comparison. Gold is still the only truly global currency, the scale and volatility of comparable currency. Bitcoin (or the currency itself) is one of the most exciting monetary experiments in modern society.
 

If you gold price chart with bitcoin chart or if you compare with carat. In all the aspects bitcoin is better then gold. Even i saw that gold price fluctuating from past 3 months. As today it dipped around 3$ for 24carat gold in world market.

On this log chart gold is the yellow line along the top. I think a good chance we surpass gold this year

https://www.tradingview.com/x/Fclj2Dcc/

Gold price per ounce is $1239 and bitcoin price seems start to rise again at $1035/BTC1.
Bitcoin may surpass gold price in the next month if I guess as long as there's no any issue appear to the surface again, mostly because government regulations such as happened in the last time in China. I think, we still on grow phase and many people consider bitcoin as investment than currency, but if we have more adopters and more merchants accept bitcoin transaction, bitcoin can spend easily as fiat money.

It depends on what unit you use for both things.Why you take 1 ounce of gold equal to 1 btc? You can compare 1 kg gold to 1 btc or 1 ounce to 1 btc.Since one is tangible thing and other is not,their unit of measurement are different hence they cant be compared

I think imhash has a point which bitcoin is better option than gold as how fast bitcoin growing compare to gold.
Bitcoin will surpass gold in price of course, and maybe surpass gold in term of market cap $7 trillion? But in decades to chase as gold has been around for centuries.

I must agree of those everybody said in this thread and that made a good point with bitcoin digital currency has more advantages compared to gold and it is really fast growing, which people prefers to have an investments like holding it. This will surpass the price of gold even though it is a history that creates popularity by means of jewelry demand  from the past years, and bitcoin will surely be adopted and earned by the modern day society who has passion for profitable income.

Bitcoin is the future of money, gold is stable and won't get pump hard in the following years. I think bitcoin will surpass gold in price this year, it is very probable.

i think in this situation, we can see that bitcoin is surpass gold in price in short time because bitcoin price have up trend from time to time and although there is a down trend but the price is always rise again to back the high price. so we should wait for a moment until the price is really surpass the gold price and bitcoin will increase to for the price.

This must be a valid point we need to consider and unfortunately both got struck around $1000 price levels which makes people compare them in more preciously bitcoiners are considering gold as a competitor in value race. Nothing would be wrong here imho, we can expect another competitor around $10k levels when bitcoin will be trading there.

If I remember right, in late 2013 itself, gold prices were beaten by bitcoin. But did not hold. The current sustaining prices may land bitcoins into $1500 levels hence we can expect gold prices will get out numbered.

Taking a look at the chart, it's clear that how much difference bitcoin and gold have. I have already mentioned this, but comparing bitcoin to gold is not a good idea. When was the last time gold took a $100 jump? Probably years ago(maybe never, too lazy to check) But we know that bitcoin did it just last month and its not uncommon for bitcoin to do that. Secondly, Gold's price graph is almost a straight like, while Bitcoin's graph is an exponential graph. But still if you want an estimate as of when BTC will surpass gold, then it wouldn't be more than few months but the question is will it stay that way?

it will be a great day of bitcoin. make a lot of gold investors turn to bitcoin, and of course it would also make the price even higher. when that happens, the user may bitcoin, will sell part they have. The price would be very high.

IMO, at 2019 since bitcoin will reach another halving and I'm sure more investor interest on bitcoin especially Chinese people like they did on early year 2017
Bitcoin have hidden potential as investment , more than you can imagine !

bitcoin has a great opportunity in terms of price. although the price is not stable, but the rise in the price of bitcoin so fast, and it makes me think that someday, bitcoin will have a higher price than gold, and even able to exceed gold in any case.

One bitcoin is just an arbitrary and meaningless division of btc currency. And if you want to compare one two the other you would have to compare the total market cap which is hundreds if not thousands less for btc. So you will have to wait a lot since they will come close to eachother.

There are problems in counting up the gold market cap since there are so many virtual gold IOU, that makes catching up of bitcoin market cap to gold even harder to achieve.

Yeah everyday we are seeing any site or businesses are adopting bitcoin. Investing in the sense, I do not agree any of the normal ideas to earning such as lending, trading or gambling. These won't provide big profit. When we see with gold we already surpassed the gold value, if we compare the value of bitcoin with each gram of gold.

Is that a right comparison ? I do not think so.
Only because of denoting bitcoin as a digital gold, people are considering gold prices to compare with bitcoins still world wide gold has different volume based standards. Some countries are following ounce and some others are following 10gram and 8gram measurement also in practice in some countries.  

yes i am also hopping so that in future the price of bitcoin will increase more and more because more and more people are entering in the world of bitcoin.

Lol in 2019 we will be at around $2,000++, we are just weeks away from reaching gold parity then to surpass it. Gold will keep stagnating as the useless piece of shit it is and bitcoin will keep growing by cold hard facts such as it being more useful than any other method to store and money wealth outside of the government control machine.

I believe that it will surpass gold price in March, 2017. it's about 1,250$ or 1,280$ I think.

I don't think it's that relevant if Bitcoin surpasses gold in price because that won't make everyone suddenly think Bitcoin is a better stable asset to hold.  What's relevant is whether the market cap of Bitcoin surpasses the value of all gold in circulation, which will take a long time if it ever happens - and it's hard to say when Bitcoin's value objectively passes that of gold because while Bitcoin is a specific unit, gold is different as it could be a coin, a certain weight etc with different numbers of carats as well.

It's also about how volatile Bitcoin and gold prices are and spreading awareness about the benefits of Bitcoin as a non-physical asset.  People often invest in gold for stability when their currency is unstable, and those people need to be convinced that Bitcoin won't just disappear because they're not quite used to the idea of something which doesn't physically exist.  They also need to be informed about the benefits of being able to exchange it with any currency anywhere in the world as long as you have access to the Internet - you don't have to put the work into taking gold anywhere.

Quite the opposite!  I am planning to swap some bitcoins for gold ounces if/when we reach parity!
We have bounced off the price of gold twice now, I think we might break though this time :)

Picking the time to buy will be the issue then. I would like a few ounces, but don't want to buy before a rise, or fail to buy before a fall!  1st world problems eh!