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Author Topic: Gold Losing It's Shine?  (Read 6648 times)
n2004al
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October 21, 2015, 02:35:10 PM
Last edit: October 21, 2015, 02:49:06 PM by n2004al
 #121

Gold is just all network effect, other than that it's an useless piece of mineral. Sure it can be used here and there but that's all. Meanwhile Bitcoin outdoes every other form of money we've ever seen:



It's all a matter of fighting the network effect in favor of Bitcoin. Bitcoin already won every other battle, it just lacks the popularity and acceptance

Gold is a fact, bitcoin is a dream. Gold has its consolidated place in the world of values for thousand years, bitcoin has only 6 year of life and until today is ignored and not known by almost 3/4 of all the countries of the world. I love bitcoin but must give the gold its real place and value. Those are all I can add to my previous post.

Edit: I had a mistake in one my expressions used in my previous post: it must be "might not be" and not "cannot" (as it was before) the possibility that bitcoin replace the gold.
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October 25, 2015, 01:38:36 PM
 #122

Gold is not so popular due to many factors, except may be in Switzerland bank sector  Wink But many private investors are keeping their assets in gold anyway  Wink
markj113
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October 25, 2015, 01:44:48 PM
 #123

Gold is not so popular due to many factors, except may be in Switzerland bank sector  Wink But many private investors are keeping their assets in gold anyway  Wink

Really, do the words "market cap" mean anything to you.

10.9bn ounces of gold are traded daily worth $15,200bn

Do you or family own any gold jewellers, have any electronic devices - contain gold.

So many clueless people spouting crap about gold that know nothing about the subject it makes my head hurt  Shocked

If bitcoin had 5% the market that gold has there would be a lot of very rich individuals on this forum.
AtheistAKASaneBrain
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October 25, 2015, 03:45:13 PM
 #124

Gold is just all network effect, other than that it's an useless piece of mineral. Sure it can be used here and there but that's all. Meanwhile Bitcoin outdoes every other form of money we've ever seen:



It's all a matter of fighting the network effect in favor of Bitcoin. Bitcoin already won every other battle, it just lacks the popularity and acceptance

Gold is a fact, bitcoin is a dream. Gold has its consolidated place in the world of values for thousand years, bitcoin has only 6 year of life and until today is ignored and not known by almost 3/4 of all the countries of the world. I love bitcoin but must give the gold its real place and value. Those are all I can add to my previous post.

Edit: I had a mistake in one my expressions used in my previous post: it must be "might not be" and not "cannot" (as it was before) the possibility that bitcoin replace the gold.

Bitcoin is already a fact, the protocol is solid and it's working. Bitcoin is way more complex than gold because it's intelligent, there's code, it's programmable, gold is just gold, a dumb piece of mineral.
Bitcoin is the future, gold is old and boring. Bitcoin is for the youth, gold is for old people that already has money and just wants to keep it.
markj113
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October 25, 2015, 03:58:34 PM
 #125

Gold is a metal not a mineral.

Yes bitcoin is code,  but whatever encryption man can make another man can break.

Gold has no third party risk.  You hold it and its yours, what you class as a weakness is in fact a strength.
OROBTC
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October 26, 2015, 03:13:41 AM
 #126

Gold is a metal not a mineral.

Yes bitcoin is code,  but whatever encryption man can make another man can break.

Gold has no third party risk.  You hold it and its yours, what you class as a weakness is in fact a strength.


I like gold a lot.  But, there are some risks to gold: it can be stolen, it may be hard to get out of the country (gold shines brightly in the X-Ray machines) and it may be a little hard to exchange depending on where you are/go.

Re Bitcoin, from what I am reading (not an expert), the math is pretty convincing that the system itself is quite robust.  The major weaknesses seem to be when the user (payer and payee) interact.  Exchanges, weak wallet passwords, etc.

So, gold is NOT losing its shine for me.  But there are risks in almost any investment holding.
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