Bitcoin Forum
December 11, 2016, 12:25:03 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 »  All
  Print  
Author Topic: Bitcoin vs gold ?  (Read 3436 times)
grondilu
Legendary
*
Offline Offline

Activity: 1134


View Profile
October 04, 2010, 06:24:20 PM
 #1

In 2000, the smart move was to buy gold.

In 2010, is it to buy bitcoins ?


Could it be the winning trade of the century ?
1481459103
Hero Member
*
Offline Offline

Posts: 1481459103

View Profile Personal Message (Offline)

Ignore
1481459103
Reply with quote  #2

1481459103
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481459103
Hero Member
*
Offline Offline

Posts: 1481459103

View Profile Personal Message (Offline)

Ignore
1481459103
Reply with quote  #2

1481459103
Report to moderator
S3052
Legendary
*
Offline Offline

Activity: 1946


BTC Up or Down? go to www.bullbearanalytics.com


View Profile WWW
October 04, 2010, 06:29:11 PM
 #2

if more people buy bitcoins than sell them, .... YES

>15years analysis experience

Always do your own due diligence & consult your financial advisor. Never invest unless you can afford to lose your entire investment.

http://twitter.com/BitcoinAnalyst

Subscribe here
Timo Y
Legendary
*
Offline Offline

Activity: 938


bitcoin - the aerogel of money


View Profile
October 04, 2010, 07:05:48 PM
 #3

Bitcoin has most of the advantages of gold and few of its disadvantages.

I think that some manner of cryptocurrency is likely to become the next gold. However, it might not be Bitcoin and it might not be the current block chain.

Once cryptocurrencies enter the mainstream, the price of gold will probably drop to something that reflects only its usefulness in jewellery, electronics, etc., as people stop perceiving it as useful currency.

This is likely to be a slow process, because the perception of gold as a currency is ingrained into most cultures.  It could take a couple of generations.  

GPG ID: FA868D77   bitcoin-otc:forever-d
S3052
Legendary
*
Offline Offline

Activity: 1946


BTC Up or Down? go to www.bullbearanalytics.com


View Profile WWW
October 04, 2010, 07:09:54 PM
 #4

Why not bitcoin.

If the bitcoin developers and this very community here continues to develop it further, without any compleceny, BTC will always keep the first mover advantage.
Gillette was the first proper razo in most countries and still it dominant market leader, despite all the competive pressure.

>15years analysis experience

Always do your own due diligence & consult your financial advisor. Never invest unless you can afford to lose your entire investment.

http://twitter.com/BitcoinAnalyst

Subscribe here
Timo Y
Legendary
*
Offline Offline

Activity: 938


bitcoin - the aerogel of money


View Profile
October 04, 2010, 08:05:44 PM
 #5

Why not bitcoin.

If the bitcoin developers and this very community here continues to develop it further, without any compleceny, BTC will always keep the first mover advantage.
Gillette was the first proper razo in most countries and still it dominant market leader, despite all the competive pressure.

On the other hand:

Google vs. Altavista
Facebook vs. Friendster
IE vs. Netscape

I'm not saying that Bitcoin won't become the market leader; I think it has a good chance.

All I'm saying is that the first mover advantage can be overestimated.

GPG ID: FA868D77   bitcoin-otc:forever-d
S3052
Legendary
*
Offline Offline

Activity: 1946


BTC Up or Down? go to www.bullbearanalytics.com


View Profile WWW
October 04, 2010, 08:08:28 PM
 #6

Agree 100%.

We need to use this advantage rigorously. The more we slow down the more likely someone will overtake us.

>15years analysis experience

Always do your own due diligence & consult your financial advisor. Never invest unless you can afford to lose your entire investment.

http://twitter.com/BitcoinAnalyst

Subscribe here
MoonShadow
Legendary
*
Offline Offline

Activity: 1666



View Profile
October 04, 2010, 08:15:57 PM
 #7

Bitcoin has most of the advantages of gold and few of its disadvantages.

I think that some manner of crypocurrency is likely to become the next gold. However, it might not be Bitcoin and it might not be the current block chain.

Once cryptocurrencies enter the mainstream, the price of gold will probably drop to something that reflects only its usefulness in jewellery, electronics, etc., as people stop perceiving it as useful currency.

This is likely to be a slow process, because the perception of gold as a currency is ingrained into most cultures.  It could take a couple of generations.  

This could take a couple thousand years.  Gold has a history as a stable form of money for all of recorded human history.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
FreeMoney
Legendary
*
Offline Offline

Activity: 1246


Strength in numbers


View Profile WWW
October 04, 2010, 10:38:28 PM
 #8

Agree 100%.

We need to use this advantage rigorously. The more we slow down the more likely someone will overtake us.

The first mover advantage is not like getting an 18 month head start, it's way more than that. If someone is interested in doing something similar they're very likely to join than to restart the project. And even if a few do start over unless theirs is way different newcomers will prefer to join our established infrastructure.

If someone comes up with something totally better, that a different story.

Companies like those mentioned can get first mover advantages and lose only later once they get oversized and bogged down. I don't see how that can happen here. As more people adopt bitcoin it just gets better.

This is not meant to mean "Go slow no worries" There are lots of reasons to develop quickly, including personal gain. I think the world really needs something like this to flee to or else life is going to suck big time. Trade makes awesome shit possible. And at this point on of those awesome things is life imo.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
grondilu
Legendary
*
Offline Offline

Activity: 1134


View Profile
October 04, 2010, 11:06:01 PM
 #9

I am so selling my gold now.

Indeed maybe the winning cryptocurrency won't be bitcoin.   But it's the first one, in what I consider to be a new area in history of economics.

2009 will be written in history as the year when cryptocurrencies were invented.
Anonymous
Guest

October 04, 2010, 11:33:41 PM
 #10

I am so selling my gold now.

Indeed maybe the winning cryptocurrency won't be bitcoin.   But it's the first one, in what I consider to be a new area in history of economics.

2009 will be written in history as the year when cryptocurrencies where invented.


I enjoy your enthusiastic posts about bitcoin Smiley.
Anonymous
Guest

October 04, 2010, 11:39:26 PM
 #11

Maybe you will be able to buy and sell the competitor for bitcoin using bitcoins . Cheesy
grondilu
Legendary
*
Offline Offline

Activity: 1134


View Profile
October 04, 2010, 11:54:50 PM
 #12

I am so selling my gold now.

Indeed maybe the winning cryptocurrency won't be bitcoin.   But it's the first one, in what I consider to be a new area in history of economics.

2009 will be written in history as the year when cryptocurrencies where invented.


I enjoy your enthusiastic posts about bitcoin Smiley.

Honnestly it must be difficult to be bigger a fan of bitcoin than me, for I've been waiting for such a currency to appear for years now.
finn
Newbie
*
Offline Offline

Activity: 1


View Profile
December 08, 2010, 10:22:44 PM
 #13

2009 will be written in history as the year when cryptocurrencies where invented.

I remember something called "Yodel" from a few years ago.

http://en.wikipedia.org/wiki/Yodelbank
The Madhatter
Hero Member
*****
Offline Offline

Activity: 490


My avatar pic says it all


View Profile
December 08, 2010, 10:26:28 PM
 #14

I remember Yodel. It was centralized and it wasn't online for very long.
grondilu
Legendary
*
Offline Offline

Activity: 1134


View Profile
December 08, 2010, 10:57:40 PM
 #15

2009 will be written in history as the year when cryptocurrencies where invented.

I remember something called "Yodel" from a few years ago.

http://en.wikipedia.org/wiki/Yodelbank

Well it is/was anonymous banking, it's not cryptocurrency, is it ?
S3052
Legendary
*
Offline Offline

Activity: 1946


BTC Up or Down? go to www.bullbearanalytics.com


View Profile WWW
December 19, 2010, 07:32:13 PM
 #16

Gold is on its way down from 1430 $ towards at least 1150, and then potentially further into the 650-800 $ area.This is based on my technical analysis.

However, the dollar will strengthen at the same time, hence, I'd not recommend to sell physical gold and move into other risky assets.

If one wants to trade the gold decline, better use futures and keep your physical gold.

... and I forgot,.. trading gold into butcoins is the only trade that may be the exceptions.. as bitcoins may be getting even more stable and stronger vs. everything on earth  Kiss


>15years analysis experience

Always do your own due diligence & consult your financial advisor. Never invest unless you can afford to lose your entire investment.

http://twitter.com/BitcoinAnalyst

Subscribe here
bitcool
Legendary
*
Offline Offline

Activity: 1441

Live and enjoy experiments


View Profile
December 31, 2010, 05:52:24 AM
 #17


On the other hand:

Google vs. Altavista
Facebook vs. Friendster
IE vs. Netscape

I'm not saying that Bitcoin won't become the market leader; I think it has a good chance.

All I'm saying is that the first mover advantage can be overestimated.

agreed. I'm a big fan of bitcoin but also try to keep a cool head here. there are just too many unknown factors that may have huge impact on the fate of this currency, both technical and political.

another question: since bitcoin is open source, what will prevent another similar or slightly different(better?) system come out to compete?
FreeMoney
Legendary
*
Offline Offline

Activity: 1246


Strength in numbers


View Profile WWW
December 31, 2010, 06:18:13 AM
 #18


On the other hand:

Google vs. Altavista
Facebook vs. Friendster
IE vs. Netscape

I'm not saying that Bitcoin won't become the market leader; I think it has a good chance.

All I'm saying is that the first mover advantage can be overestimated.

agreed. I'm a big fan of bitcoin but also try to keep a cool head here. there are just too many unknown factors that may have huge impact on the fate of this currency, both technical and political.

another question: since bitcoin is open source, what will prevent another similar or slightly different(better?) system come out to compete?

If you want to accept P2P money for your business you choose the one that actually has people securing the chain and people spending and accepting it. There would need to be a pretty compelling reason to start a new system.

Imagine if a new fax machine was invented 5 years after the original fax machine, but it didn't work with any other machines already in use. It would have to be a lot better to overcome that. I think it would have to be a whole new thing not just an improvement.

I'm sure it will be tried though so we'll see. I bet there will be an inflatocoin tried.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
bitcool
Legendary
*
Offline Offline

Activity: 1441

Live and enjoy experiments


View Profile
December 31, 2010, 07:40:18 AM
 #19

it won't be easy for late comers, unless they have some other advantages, such as the backing of Google, or Chinese government. we shall see.
Phinnaeus Gage
Legendary
*
Offline Offline

Activity: 1302


Bitcoin: An Idea Worth Spending


View Profile
August 18, 2013, 08:25:24 PM
 #20

2009 will be written in history as the year when cryptocurrencies where invented.

I remember something called "Yodel" from a few years ago.

http://en.wikipedia.org/wiki/Yodelbank

I have no idea who this finn guy was, but Sonny Vleisides had his hand in the creation of YodelBank. Millions more people were scammed for.
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!