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Author Topic: Bitcoin more expensive than gold today.  (Read 387 times)
serchanto (OP)
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March 02, 2017, 07:57:04 PM
 #1

For the first time ever, one Bitcoin is more expensive than one ounce of gold today.  How high is it going to go I wonder.

DoublerHunter
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March 02, 2017, 10:41:16 PM
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I think the price of bitcoin would reach 2000$ price for this year because you can see even now that the price is slowly climbing up to 2000$. News like this is a big help for bitcoin to rise even more because people will amaze to this kind of news and they will start getting curious and in the end of the day, they will invest in bitcoin.
BurtW
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March 02, 2017, 10:43:11 PM
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For the first time ever, one Bitcoin is more expensive than one ounce of gold today.  How high is it going to go I wonder.

Gold is measured by mass and priced in USD/gram.  How much does a Bitcoin weigh?  You cannot compare the two.

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
Creepings
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March 02, 2017, 10:48:56 PM
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For the first time ever, one Bitcoin is more expensive than one ounce of gold today.  How high is it going to go I wonder.

Gold is measured by mass and priced in USD/gram.  How much does a Bitcoin weigh?  You cannot compare the two.

Point taken, we dont really need to differentiate these two. And bitcoin reached almost $1900 in the past, I think if bitcoins price reached $2000, i will rejoice!
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March 02, 2017, 10:49:21 PM
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From another thread:


Total estimated gold ever mined: 171,300,000 kg
1 kg of gold = $39,847
Market cap: $6,825,791m

Total bitcoins ever mined: 16,193,587
1 btc = $1,249
Market cap: $20,230m

You should postpone the 'parity party' until 1 BTC = $421,512, or when it's value equals the value of ~10.6 kg of gold.

sources: google + coinmarketcap


Exactly.

For "parity" a BTC would need to be about 39,847 * 171,300,000 / 16,193,587 = $421,511

So not quite there yet.

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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