Could Bitcoin Crash Gold?

[zeraTunerse]

People still invest in ‘gold’ or ‘bonds’ as a way to save money an grow their wealth. But when you need to transfer your gold across the border or withdraw your bonds, you’re sure to draw some attention. Or worse, you might even get robbed. But if you use Bitcoin, then you can just store your money in a digital wallet, and take your property anywhere in the world without a single question being asked. Simple!

That is true, when it comes to transfer your funds, I think bitcoin is very safe as compared to the gold, As you cannot travel with the huge amount of gold to different countries as the custom departments would ready to question you, but in bitcoin you can travel with any number of bitcoins in your digital wallet.

[vm_mpn]

You tell me: http://www.marketwatch.com/story/why-gold-is-falling-and-wont-get-up-again-2015-07-20

[Amph]

Lol, do you really think something with a $4,000,000,000 market cap could crash something that has a known market cap at least 1000x that?


 

it mean reaching a price of 300k per coin to crash gold, well not impossible, but it could happen after 2024, even if it happen for 1 day, due to the unstable nature of bitcoin that can build random high pump, we could say that gold is crash

[OmegaStarScream]

Gold exists for thousands of years , There is nothing on the world that could screw Gold on the world including Bitcoin or any cryptoo currency  .

[vm_mpn]

Gold exists for thousands of years , There is nothing on the world that could screw Gold on the world including Bitcoin or any cryptoo currency  .

They did not need Bitcoin to screw up Gold: https://www.youtube.com/watch?v=6YtMaGEH2RQ

[g1974ak]

I don't think so. Are two different assets and everyone of them serve for different purposes. Bitcoin serve to pay for goods only in internet while gold serve as a reserve assets. Maybe are coins in gold but I don't think that someone use them to buy something in everyday life. Both of them has value and is thought that their value is or will be stable in time. Maybe their value even will be increased in time. Especially the value of bitcoin. But gold remain gold. It is the referring point for most of the fiat money in circulation even if this is not official. And this is not few.

[smith coins]

I dont think either, it can not bitcoin crash the gold, gold is something real and bitcoin is just digital

[Realpra]

Gold has already lost to fiat in terms of usage.

I don't know if gold will disappear, but its definitely in trouble because its difficult to check if the gold is real or tungsten-filled.
We also know that most "gold" is paper gold... which is quite funny really.

I have also seen physical gold that was marked with lasers or something - so am I trusting the lasers or the gold?

Actually trading real gold incurs heavy fees/costs of course.


Also what exactly is the case for gold?

Investment: Land is probably safer and more profitable.

Doomsday: Just buying supplies with cash will probably be more likely to work. If you CAN'T buy stuff anymore
where are you going to spend the gold/silver coins you hoarded 50 years waiting for disaster?
Canned food would help you more.

Currency: Hasn't been for decades/centuries?

Currency collapse: Any investment, bitcoin, job or ownership will help you there.


LTB told me they don't even use silver anymore at "Pork fest"? Its mostly Bitcoin now.

[smith coins]

Gold has already lost to fiat in terms of usage.

I don't know if gold will disappear, but its definitely in trouble because its difficult to check if the gold is real or tungsten-filled.
We also know that most "gold" is paper gold... which is quite funny really.

I have also seen physical gold that was marked with lasers or something - so am I trusting the lasers or the gold?

Actually trading real gold incurs heavy fees/costs of course.


Also what exactly is the case for gold?

Investment: Land is probably safer and more profitable.

Doomsday: Just buying supplies with cash will probably be more likely to work. If you CAN'T buy stuff anymore
where are you going to spend the gold/silver coins you hoarded 50 years waiting for disaster?
Canned food would help you more.

Currency: Hasn't been for decades/centuries?

Currency collapse: Any investment, bitcoin, job or ownership will help you there.


LTB told me they don't even use silver anymore at "Pork fest"? Its mostly Bitcoin now.

As far as i know the Gold will never disappear, at least not in the real life.
Maybe in digital tech it can be lost but in real life we will touch it

[jonald_fyookball]

OP, I'd be a bit skeptical that this perception has
reached the masses yet.  Otherwise we'd have
a larger market and higher price for Bitcoin.

But yeah, in the next 10,20,30 years, Gold
will go down for sure and Bitcoin will go up
for all the reasons you pointed out.

[bitcoinmar]

its need too many years because Gold is holding by many countries in huge amount and bitcoin is still no recognize by any government

[btcdealer]

yes bitcoin might crash gold because of its ever changing value....

[faridkifly]

I think yes dude, because in my country gold rate is down... And now I regret to invest in gold 

[aakashsangwan]

Yes Bitcoin Can crash gold very easily.
But first whales have to move out from Bitcoin so that there will be a steady growth and not these biweekly pumps and dumps.

[altcoinhosting]

OP, I'd be a bit skeptical that this perception has
reached the masses yet.  Otherwise we'd have
a larger market and higher price for Bitcoin.

But yeah, in the next 10,20,30 years, Gold
will go down for sure and Bitcoin will go up
for all the reasons you pointed out.

I can follow bitcoin going up and gold doing down... But BTC crashing gold seems impossible for me (just my opinion)

[madonnino]

gold is gold,It was used as a bargaining chip already two thousand years ago. Bitcoin is digital gold, another story

[BitProdigy]

Lol, do you really think something with a $4,000,000,000 market cap could crash something that has a known market cap at least 1000x that?


 

Yes. Just like the market cap of fax machines was still 1000x that of email at one time. It's not like they are going to use their market caps to buy weapons and fight each other to the death. The market cap comparison is irrelevant. Obviously if bitcoin crashed gold it would mean that all of the money from gold is transferring over to bitcoin. Gold's market cap shrinks as bit coin's rises. Bitcoin is sucking it's market cap straight out of gold's.

If someone is buying gold as a store of value, and then learns that bitcoin is a superior store of value, he's likely to start buying bitcoin, and perhaps buying bitcoin WITH his gold. Do you see? The value of gold being transferred to bitcoin as the worlds best store of value. The comparison of their current market caps give no indication as to whether or not bitcoin could crash gold.

[harrymmmm]

IMHO, the right way to think about bitcoin in the global economy is that it's kinda viral. Pretty much unstoppable; it will eat up most transactions over time.
As a result, I'd guess it will take over from gold as a wealth storage method, and gold price will drop - maybe not a sudden crash, but an inevitable gold decline.

[g1974ak]

The strong point of bitcoin is not the being currency but being technology. So the success of bitcoin will be more the technology behing it than the use of it like a currency. In this point of view has nothing to do with the gold. Gold is another thing. It serve as a world reserve while bitcoin as a technology which will disrupt to many other technologies.

[n2004al]

The strong point of bitcoin is not the being currency but being technology. So the success of bitcoin will be more the technology behing it than the use of it like a currency. In this point of view has nothing to do with the gold. Gold is another thing. It serve as a world reserve while bitcoin as a technology which will disrupt to many other technologies.

That's correct. The technology behind bitcoin will change most of the technologies actually in use becoming those obsolete and unusable because of not being competitive anymore. Bitcoin as a currency will profit from this and will emerge as a currency. But to tell that will crash gold seems something futuristic for me.