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Bitcoin Forum > Economy > Economics > Speculation > Will today's Gold crash have any effect on Bitcoin price?
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Author Topic: Will today's Gold crash have any effect on Bitcoin price?  (Read 859 times)
Spekulatius (OP)
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April 15, 2013, 09:29:03 PM
 #1
The title says it all, 10% down in a single day, didnt happen in a long long time on the gold market, any implications for Bitcoin?
http://www.cnbc.com/id/100640665
superside
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April 15, 2013, 09:47:42 PM
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welp, dow drops, gold drops, silver drops, bitcoin drops.
Dollar seems pretty stable now doesn't it?
Sorry in conspiracy mode today
Qoheleth
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April 15, 2013, 09:50:08 PM
 #3
Quote from: superside on April 15, 2013, 09:47:42 PM
welp, dow drops, gold drops, silver drops, bitcoin drops.
Dollar seems pretty stable now doesn't it?
Sorry in conspiracy mode today
Treasuries are doing well.
If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
n8rwJeTt8TrrLKPa55eU
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April 15, 2013, 09:51:28 PM
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I think that there is a (possibly negative) implication to the extent that such drops in paper gold & silver might signal diminished liquidity in the monetary system, margin calls, and increased risk aversion.  Action in commodity & equity markets is starting to feel a bit like 2008.  Additionally goldbugs who also hold BTC might be getting tempted to buy this gold dip with their hefty Bitcoin profits from the beginning of this year.
ManBearPig
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April 16, 2013, 02:23:08 AM
 #5
There's form that as the economy improves, the price of gold drops as money is put into riskier holdings like stocks. Or it just gets spent on yachts, cocaine, hookers. Except the whole of the market seemed to be down today. Except maybe purveyors of yachts, cocaine and hookers.

Expect the money to turn up somewhere.
I tweet crypto nonsense: https://twitter.com/DunningKruger_
bitrider
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April 16, 2013, 03:37:19 AM
 #6
Quote from: n8rwJeTt8TrrLKPa55eU on April 15, 2013, 09:51:28 PM
 Action in commodity & equity markets is starting to feel a bit like 2008.


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April 16, 2013, 03:39:10 AM
 #7
Quote from: superside on April 15, 2013, 09:47:42 PM
welp, dow drops, gold drops, silver drops, bitcoin drops.
Dollar seems pretty stable now doesn't it?
Sorry in conspiracy mode today

If everything drops compared to the dollar, it actually means that the dollar is increasing in value.
BitCoin is NOT a pyramid - it's a pagoda.
boscorocks
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April 16, 2013, 03:53:39 AM
 #8
Quote from: Qoheleth on April 15, 2013, 09:50:08 PM
Quote from: superside on April 15, 2013, 09:47:42 PM
welp, dow drops, gold drops, silver drops, bitcoin drops.
Dollar seems pretty stable now doesn't it?
Sorry in conspiracy mode today
Treasuries are doing well.

Lately, I think the only bubble left is ammo.
1m1nd
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April 16, 2013, 03:59:53 AM
 #9
Quote from: boscorocks on April 16, 2013, 03:53:39 AM
Quote from: Qoheleth on April 15, 2013, 09:50:08 PM
Quote from: superside on April 15, 2013, 09:47:42 PM
welp, dow drops, gold drops, silver drops, bitcoin drops.
Dollar seems pretty stable now doesn't it?
Sorry in conspiracy mode today
Treasuries are doing well.

Lately, I think the only bubble left is ammo.

Fear bubble is at an all time high!
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