Gold: Let's get this parity started!

[abercrombie]

http://goldprice.org/spot-gold.html

https://bitcoinity.org/markets/bitfinex/USD

[edgar]

Kitco says - GOLD  03/02/2017    08:28    1238.40    1239.40

Bitcoin says -  high: 1239.0000

is crypto dead....

[BillyBobZorton]

Forget about parity, we have no officially surpassed gold and we are sitting comfortably on $1250. $2000 will be the new floor in no time if ETF passes, if not, then buy the dip and wait since it will keep growing anyway.

[Sundark]

Forget about parity, we have no officially surpassed gold and we are sitting comfortably on $1250. $2000 will be the new floor in no time if ETF passes, if not, then buy the dip and wait since it will keep growing anyway.

Eat this gold lovers!

Gold is officially worse store value material than bitcoin! Now every gold hoarder will wonder, if it is really good idea to keep it around?
Selling your gold stash and buying BTC is not that bad idea now. But we still have one major problem, bitcoin volatility, this issue can't be solved.

[OROBTC]

Forget about parity, we have no officially surpassed gold and we are sitting comfortably on $1250. $2000 will be the new floor in no time if ETF passes, if not, then buy the dip and wait since it will keep growing anyway.

Eat this gold lovers!

Gold is officially worse store value material than bitcoin! Now every gold hoarder will wonder, if it is really good idea to keep it around?
Selling your gold stash and buying BTC is not that bad idea now. But we still have one major problem, bitcoin volatility, this issue can't be solved.

I would not dismiss gold as a store of value just yet.

Yet, a H/T to the Bitcoin optimists, as it is very possible that BTC could have a nice run up from here.

But, they are different assets!  Which move differently, with different fundamentals.  Holding both gold and BTC is a winning strategy, hey whatever holdings you have in gold may not show such nice speculative gains as BTC, you are SAFER holding both.

While my guess (and my price predictions/guesses are of very little value) is that BTC will do great, it could go back down below $1000 or even below $700 if the past is any guide...  Still, as a HODLER of BTC, if the price keeps going up, up and away, that's really great!

[HanSchultz]

Forget about parity, we have no officially surpassed gold and we are sitting comfortably on $1250. $2000 will be the new floor in no time if ETF passes, if not, then buy the dip and wait since it will keep growing anyway.

Eat this gold lovers!
Gold is officially worse store value material than bitcoin! Now every gold hoarder will wonder, if it is really good idea to keep it around?
Selling your gold stash and buying BTC is not that bad idea now. But we still have one major problem, bitcoin volatility, this issue can't be solved.

You really cannot underestimate the valuation of gold just like that and people are trading it for a very long time,no one would sell off their gold stash for buying bitcoin even at this stage. The price is really volatile and you really cannot expect the price to be this high 100 years from now.

[pawel7777]

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 its value equals the value of ~10.6 kg of gold.

sources: google + coinmarketcap

[BurtW]

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.

[eddie13]

So not quite there yet.

Another month or 2 ya figure?

[BurtW]

So not quite there yet.

Another month or 2 ya figure?

Not possible based on the total power consumption of the Bitcoin network.

Read here:

https://bitcointalk.org/index.php?topic=1418964.msg15094043#msg15094043

[equator]

Forget about parity, we have no officially surpassed gold and we are sitting comfortably on $1250. $2000 will be the new floor in no time if ETF passes, if not, then buy the dip and wait since it will keep growing anyway.

Eat this gold lovers!

Gold is officially worse store value material than bitcoin! Now every gold hoarder will wonder, if it is really good idea to keep it around?
Selling your gold stash and buying BTC is not that bad idea now. But we still have one major problem, bitcoin volatility, this issue can't be solved.

Dont know why still everyone is comparing gold and bitcoin as both are good for investment and both are having their own value and we cannot compare both with which is superior for investment. Gold you can keep for investment and if you make some jewelry you can use it and enjoy also. Bitcoin is also good investment as the price is fluctuating and it is moving high only.

So saying that gold is not needed and only bitcoin is enough is foolishness

[Sundark]

So saying that gold is not needed and only bitcoin is enough is foolishness

Because of the volatile nature of BTC we don't know what will happen. That will be the biggest argument against bitcoin, always.
Gold is stable and secure. I get it. Best to grab both yada, yada. You are right, it is the best option.
But if you are not willing to risk and take your chances with BTC then gold is for you. Be safe.
And the thing is you can't get rich with gold, you can only swim with the tide.

[kehtolo]

Just wanted to stop by and give abercrombie kudos for the title of this thread!

 

[Pattberry]

I am glad to see the party going but i want to see how many days this party continues.It is quite evident that the price is going up simply because we do expect that the ETF is approved and so many people are taking their chances and i really do hope the party will continue even after this month.