Gold Losing It's Shine?

[operrajunk74]

I think gold still got the massive network effect, everyone in the world has the mental image of gold means wealth and luxury. What gold lacks and Bitcoin has, the excitement of novelty and revolution. Gold feels old and established and pretty boring, Bitcoin is an exciting roller coaster into the future. But remember that gold has its own importance in the world and it will be remain.

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[markj113]

I think gold still got the massive network effect, everyone in the world has the mental image of gold means wealth and luxury. What gold lacks and Bitcoin has, the excitement of novelty and revolution. Gold feels old and established and pretty boring, Bitcoin is an exciting roller coaster into the future. But remember that gold has its own importance in the world and it will be remain.

Try holding a large bar of gold and then the equivalent value in bitcoin on memory stick and tell me which one feels boring

[birdcat90]

based on the current trend..gold looking down and will hit the support line..

if demand more bigger than supply..of course gold will shine again..maybe i will invest some money on gold if it fall again below 1000$/ troy oz

[jefcacoinit]

Last two and half years gold could not find upward movement. The slow down in economy also a reason for slow gold movements. But gold will shine is future for sure as long as world countries accept it as medium of exchange.

[n2004al]

Last two and half years gold could not find upward movement. The slow down in economy also a reason for slow gold movements. But gold will shine is future for sure as long as world countries accept it as medium of exchange.

The years that gold is going down are near of five and only two and half. So the double of the years given form you. Five years are not few. So this long tendency need to make us to think about its value. It is as it was or it is (will be) a new one not more as it was?

Below the chart which show the price of gold in the last five years:

[thinkinger]

gold was p

Gold may lose its shine but it is only temporary, bitcoin and cryptocurrency
may take the spot light but it will only last for atleast 20-30 years IMO,
and in the end gold will still have its value even after a several century or more,

aggre .it is the game of holding more gold that makes the gold decrease

[qiwoman2]

I think gold will always be a part of a solid investment plan as long as the mentality of humanity remains the same. If our mindset alters and we look at wealth in a different way perhaps gold will not be as valuable. It all depends on where we are heading humanity wise.

[StevenLiang]

I think that gold is very precious and most trusted asset through out the history of mankind.It will always remain an important player to measure the value of the currencies even in future when only digital currencies will rule the financial system. Gold's shine can never be dimmed not even little.Recent decline in price of Gold was after effect of price hype which was created by elite now price is very fair in my opinion.

I am agree with your perspective. The Gold price is quite fair for now.
And gold will always remain in future, same as diamond, ruby, and any other gem.

Btw i'm not sure about BTC can always shining like gems or not? There many alt coin too nowadays who want to follow BTC wins.

[n2004al]

I think that gold is very precious and most trusted asset through out the history of mankind.It will always remain an important player to measure the value of the currencies even in future when only digital currencies will rule the financial system. Gold's shine can never be dimmed not even little.Recent decline in price of Gold was after effect of price hype which was created by elite now price is very fair in my opinion.

I am agree with your perspective. The Gold price is quite fair for now.
And gold will always remain in future, same as diamond, ruby, and any other gem.

Btw i'm not sure about BTC can always shining like gems or not? There many alt coin too nowadays who want to follow BTC wins.

If the "problem" of bitcoin will be another altcoin made from a developer or a group of them I think that it will never any risk for bitcoin. Maybe it will be problem if some country or to many countries (or every country) create and adopt as their currency a digital coin based currency. More this country will have power and will and more it will be developed, more this risk will be greater. If you like, you can learn more and give even your opinion following this thread here: https://bitcointalk.org/index.php?topic=1205842.0

[Mickeyb]

I don't think that hold will lose its shine in the future. Gold has survived 5,000 years, why would it dissappear now. Surely not because of Bitcoin.

If you look at the historical charts of the gold, you will notice that gold goes up and down in the long cycles. When I say long, I mean 2-4 years long. At the moment we are just in a downward long cycle. Experts do think that the gold will continue its decline in the near future. But one day, gold will climb back again.

[Poppy]

According to Mark O'Byrne of GoldCore, gold is slowly losing it's shine. And things like bitcoin and cryptocurrency are stealing the spotlight.

Wilfred Frost of CNBC:

Do you think markets are adequately pricing in the risks that are present around the world today, particularly in Europe and the gold price itself?

Mark O’Byrne of GoldCore:

No, I don’t think so. I think in light of the “Grexit”, which you just mentioned, and also the “Brexit” and the overall debt positions globally — we would have a concern that there is a global financial bubble with stock markets at all time record highs, bond markets at all time record highs.

Meanwhile, gold prices have traded sideways, as you said, for a long period of time. We have had a serious correction and we believe there is consolidation. It looks undervalued. At the same time it could go lower before it goes higher. I think technically there is a weakness there and I think there is support at $1140 so short-term there is weakness, quite possibly, but medium to long term the fundamentals look very sound.

Wilfred Frost of CNBC:

Do you think that’s because we have had a breakaway from the idea that gold remains a great hedge towards any risk that’s out there — whether that’s inflation, deflation or just big geopolitical crises or is it just because markets don’t understand that those risks are present and they are ignoring them?

Mark O’Byrne of GoldCore:

I think the latter…for the moment.

Recently gold prices have been fluctuating.  Some time in July the price of gold went down to its lowest but then it rose again, but it went down again. So we can never really say that gold is losing its shine

I think it’s very like the 2003 to 2006-2007 period. The imbalances were building up in the system – meanwhile stock markets kept gallivanting higher and gold was a very under-owned asset and there wasn’t an appreciation of gold as a safe haven asset.

I think you are right.. I think that perception of gold … it has fallen out of favour. Sentiment towards gold is as bad as we have seen it since the 2003/2004 period.

Bitcoin is the more sexy thing. People want to talk about bitcoin and anything with “bit” in the name seems to be doing very well.

Whereas gold is very much less sexy. It’s less on the radar because it has performed quite badly in the short term. But, I suppose past performance is no guarantee of future returns and you have to look at the long-term store of value characteristics of gold as a proven hedging instrument and safe haven asset… over the long term. Not in the short term, obviously.

Carolin Roth of CNBC:

Mark, there simply is no inflationary pressure… I don’t see why gold should be moving higher at all. We are in a disinflationary or low inflation world. I don’t see why gold should be moving past the $1200 level that we’ve been bumping around over the last couple of months. And then we’ve got a dollar that’s moving higher. It’s a bit of a rough patch for the dollar right now but it’s still moving higher. I don’t see why anything we are seeing in gold is more than a dead cat bounce, essentially…?

Mark O’Byrne of GoldCore:

You’re right — there [are] no inflationary pressures … right now.

The question is “is that inflation building up?” And I think it probably is.

At the same time gold is not just a hedge against inflation — it’s actually not a really a hedge against inflation per se, it’s more of a hedge against serious inflation and stagflation. It’s also a hedge against deflation.

So when you have a Lehman Brothers moment or a potential “Grexit” there is that significant counterparty risk. And gold — because it has no counterparty risk if you own the actually physical asset — it is actually a hedge against deflation as well.

There is a huge body of academic research that shows that.

[Supercrypt]

I don't think that hold will lose its shine in the future. Gold has survived 5,000 years, why would it dissappear now. Surely not because of Bitcoin.

If you look at the historical charts of the gold, you will notice that gold goes up and down in the long cycles. When I say long, I mean 2-4 years long. At the moment we are just in a downward long cycle. Experts do think that the gold will continue its decline in the near future. But one day, gold will climb back again.

Yes gold will never loose it's own shining. But may be it loose it's attractions towards the big investors as there are multiple other choices now available to them. Bitcoin is the one of them. I guess both bitcoin and gold will have more than enough significant appreciations in near future.

[designerusa]

It is hard for me to think that gold loses its value. It must be manipulation of them to pull gold's price to lows.
It is one of the most trusted things of economy. It won't lose its shine.

[neonshium]

It is hard for me to think that gold loses its value. It must be manipulation of them to pull gold's price to lows.
It is one of the most trusted things of economy. It won't lose its shine.

Yes, gold may be phased it's superlative jump in value appreciations in last 6 to 8 years comparing last 2 or 3 years. Some people claim it's just due to the raise of bitcoin. But we need to rethink for replacing gold with bitcoin it would definitely take more time. Till then gold will be shining more.

[n2004al]

It is hard for me to think that gold loses its value. It must be manipulation of them to pull gold's price to lows.
It is one of the most trusted things of economy. It won't lose its shine.

Yes, gold may be phased it's superlative jump in value appreciations in last 6 to 8 years comparing last 2 or 3 years. Some people claim it's just due to the raise of bitcoin. But we need to rethink for replacing gold with bitcoin it would definitely take more time. Till then gold will be shining more.

These people who think that must be drunk when told these words. Gold and bitcoin are very away with each other and the world of bitcoin is very small and new to affect the world of gold which is much more big and much more old and experienced. We all here are like bitcoin and maybe like this thoughts but that doesn't make true such hypothetical suppositions. I haven't read in all my life with bitcoin (which three years) even one data that can verify the part in bold. This doesn't mean nothing (because someone else might had read), but is important that when someone tell this kind of big things give some data to argue those. Otherwise, he/she first and bitcoin itself second become ridiculous.

Bitcoin is known in very few countries comparing to all the countries of the world and banned in even few of those. But the overall number of all the countries mentioned in the previous sentence is very small (8 banned +3 restricted + 33 regulated and legal = 44 country known bitcoin) compared to all the countries of the world. The countries of the world are more than 200. So about or than 160 country ignore or don't know at all bitcoin. But even in the countries when is known its majority use is in the dark web or to be changed with fiat money. How is possible that something like that, with this kind of activity, make possible the change or move of the price of gold?

Are only dreams....

It is another story the replacement of the position that gold have already in the world of values with the bitcoin. If bitcoin will be able to make true such heroic achievement need to do to many things before. It is very early to speak those big and beauty things. As it is written above, more than 160 countries ignore it. To many others banned it. It is a long long way ahead for bitcoin to dream such position. The first of whose is to wash and bleach itself. The above poster which before this post had hopes that this thing could be happen soon it is in a good way when think to rethink the time when bitcoin could replace gold. But must rethink even that this might not be possible not because bitcoin is not able to do but because are to many hard battles to do before. The end of whose is unknown for everyone.

[pereira4]

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

[n2004al]

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.

[HeroCat]

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

[markj113]

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

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  

If bitcoin had 5% the market that gold has there would be a lot of very rich individuals on this forum.

[AtheistAKASaneBrain]

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.