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Author Topic: Bitcoin value tops gold for first time  (Read 1098 times)
iamTom123
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March 09, 2017, 01:32:33 PM
 #21

People will always compare one asset with another and that is quite normal. Bitcoin against gold can be a good yardstick when evaluating how far that Bitcoin has gone to conquer the financial world but may not be considered to be the absolute yardstick as there can be other factors to also consider. Bitcoin and gold can be good assets to invest with as they can withstand some disruptions in the global economy (though I don't have the facts for this and the readers should be supplying them lol).
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March 09, 2017, 01:34:44 PM
 #22

Sadly, the price has dropped now, but this comparison is a good evidence of bitcoin's unstoppable and rapid growth. It reflects how much attention people are paying for it and how surprisingly successful bitcoin has become. Like 7 years ago, who would ever think there does exist a day when an ounce of gold can be bought with just one bitcoin. That bitcoin has gained what gold has right now while it's still young is a clear evidence for a potential future.

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March 09, 2017, 01:35:33 PM
 #23

Price have already dropped from that level and it is under the price of one once gold right now, so this news doesn't make sense in current situation but price will get pumped again and i am quite sure it will again cross price of one once gold really soon.
Yes right now the news makes no sense and also is its a 1 week old news. And the price drop right is just momentary, with ETF and other things coming up soon the price is bound to rise.
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March 09, 2017, 02:11:21 PM
 #24

Sadly, the price has dropped now, but this comparison is a good evidence of bitcoin's unstoppable and rapid growth. It reflects how much attention people are paying for it and how surprisingly successful bitcoin has become. Like 7 years ago, who would ever think there does exist a day when an ounce of gold can be bought with just one bitcoin. That bitcoin has gained what gold has right now while it's still young is a clear evidence for a potential future.

Most of the first people that bought bitcoins, obviously. If we weed out those people that bought bitcoins because somebody close to them is highly recommending it that it's almost as if they were forced to buy bitcoins, what will be remaining are the true investors. Those true investors are either very lucky people that have stumbled upon a good article about bitcoins and believed in it right away or people that knew what was going on. It's not like the existence of bitcoin was kept secret. If you were already a trader at that time, you'd know about bitcoins since somebody in your circle of friends surely had the time to look at the incoming trends.

So yeah, those people believed in bitcoins and some of them are probably still holding tons of bitcoins. It didn't cost that much back then so holding tons of bitcoins isn't that big of a deal.

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piloder
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March 09, 2017, 02:55:54 PM
 #25

And the price drop right is just momentary, with ETF and other things coming up soon the price is bound to rise.
But i expect this downtrend to continue because there is no doubt that bitcoin ETF will not get approved by SEC on current situation. Price may see some more correction after tomorrow than within next few weeks price may regain $1300+ price.
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March 09, 2017, 03:48:54 PM
 #26

No wonder, bitcoin is really powerful. The falling down of the bitcoin's price is jsut a little compare if it rise again. Are those gold holders willing to sell it for bitcoins? So what would be there prefer for? Is it still gold to make there as the first priority?

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March 09, 2017, 04:05:49 PM
 #27

It's nothing to feel surprised about it because bitcoin has much more potential than that of gold (consider the growth of both the things) and I am sure in next few years bitcoin will have double price than that of gold. People are looking for an advanced type of investments and expecting a faster growth and bitcoin fulfils their expectations.
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March 09, 2017, 06:17:14 PM
 #28

this comparison is stupid, because the amount of gold KG that exist is not the same as the amount of bitcoin that will ever exist
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March 11, 2017, 02:37:42 AM
 #29

As per BBC news update
A unit of the digital cryptocurrency Bitcoin has exceeded the value of an ounce of gold for the first time.
It closed at $1,268 on Thursday while a troy ounce of gold stood at $1,233.

Read more http://www.bbc.com/news/business-39149475

It maybe true that bitcoin value tops gold for the first time, but because of the volatility of bitcoin has it is still not like gold. Though gold was   ancient and bitcoin is not, gold is physically can be touch while bitcoin is not but bitcoin has many things had which gold don't have. But lets see what will happen on the upcoming weeks.
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