What will happen when BTC and Gold hits parity?

[Chris4210x]

The Bitcoin price is raising and the Gold price is falling. We are only a few USD away from parity, maybe even a head on head rally between the too.

What will happen if BTC beats Gold?

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[sakinaka]

It is the price of a troy once, so I don't think that we can take this price as "the price of gold". The price of a kilogram, about 33000$ would be more appropriate for me. For passing the troy once, I don't think it will matter a lot, but when will we have passed the price of a kilogram of gold, that'll be for sure an awesome milestone, but quite funnily absolutely nothing will happen ! The sea won't turn red and planets won't align. That'll just be cool to tell to our children.

[mrcash02]

I don't think it will have shocking consequences, what can happen is to have some good news about Bitcoins on the internet on economy and speculation sites. A good event for Bitcoin and Crypto-Currencies, luckly if this happen, Bitcoin can gain attention from more people that could start buying some BTCs to see what happens, new enthusiasts.

[franky1]

look at your chart at december 2013.. when it nearly hit parity.

people got scared and thought it wont be sustainable

this time it may do the same thing again and plunge down or it may hold at parity or it may exceed gold.
no one can predict the future but only wager the chances based on past trends and also current trends/tendancies

[bamboylee]

People will dump their gold and start buying bitcoin instead, is what I wish will happen. But no, I doubt people will start to move from gold to bitcoin just because they reach parity. I am sure bitcoin will draw more attention though when it does happen.

[Raize]

Gold = Longer history as a store of value, poor record as a medium of exchange (price above spot, shipping and handling fees, bank transaction fees, credit card fees, and high security costs).
Bitcoin = Short history (but good!) as a store of value, moderately good record as a medium of exchange (transaction fees and maybe moderate security costs [for a hardware wallet]).
Fiat = Horrible history as a store of value (due to inflation), reasonably high record as a medium of exchange (no to low fees, credit card fees, bank fees, storage fees).

The price of one ounce isn't a big deal. People thought parity with the US dollar was going to be a big deal and it went to $1.22 before falling back down to $0.60 and then going to over $30 around 3 months later.

[remotemass]

There are about 210,000,000 kg of gold in the world.
And so, 1 BTC is comparable to 10 Kg of gold.

[TopherB]

Calculate the value of a gram of Bitcoin and get back to me.

[th3nolo]

People will dump their gold and start buying bitcoin instead, is what I wish will happen. But no, I doubt people will start to move from gold to bitcoin just because they reach parity. I am sure bitcoin will draw more attention though when it does happen.

Dump their gold I don't think so maybe the price will have a resistance right there for a couple months, and a great campaign about Bitcoin by the media but nothing special.

[e1ghtSpace]

There are about 210,000,000 kg of gold in the world.
And so, 1 BTC is comparable to 10 Kg of gold.

Perfect, this is how we calculate parity.

[Meuh6879]

The Bitcoin price is raising and the Gold price is falling.
What will happen if BTC beats Gold?

People want profit.
They sell gold (to indian ?) and buy bitcoin instead (because of the long term graphic).

After all, Bitcoin is like gold in 2000 = 300 USD.
16 years later = 1400 USD.

Bitcoin ? do this in 2 years.

[IIOII]

Actually, gold is rising today. I don't see why anything should happen when gold and btc hit parity. Platinum and rhodium already were more expensive than gold and nothing happend.

What do you expect? People throwing away their gold?

I'm sure that both gold and Bitcoin are much better than Dollars or Euros.

[Yakamoto]

$200 isn't exactly being close to parity, but it is definitely closer than it has been.

Considering the volatility of Bitcoin, a lot of things can happen. We might get a lot of excited investors jumping off of the gold boat and putting more money into something like what we have here, or they might see it as the new gold and invest in it to maintain value.

With the volatility, it is entirely possible that we could see a lot of money pumped in followed by a massive dump, or any number of other things. Considering we're this close to $1k at the New Year, and it's been steady, anything is possible now.

[yayayo]

The Bitcoin price is raising and the Gold price is falling. We are only a few USD away from parity, maybe even a head on head rally between the too.

What will happen if BTC beats Gold?

Better do not prematurely conclude that parity is coming in no time...

There might be a lot of media reporting, telling you the obvious. Maybe some old school gold bugs might start considering to add Bitcoin to their portfolio.

Besides that pretty much nothing will happen. Gold will not be replaced by Bitcoin in the foreseeable future, regardless what many Bitcoiners seem to think. I think both will coexist peacefully, simply because gold has a long tradition and a trust advantage because it is a physical asset.

ya.ya.yo!

[beerlover]

$200 isn't exactly being close to parity, but it is definitely closer than it has been.

Considering the volatility of Bitcoin, a lot of things can happen. We might get a lot of excited investors jumping off of the gold boat and putting more money into something like what we have here, or they might see it as the new gold and invest in it to maintain value.

With the volatility, it is entirely possible that we could see a lot of money pumped in followed by a massive dump, or any number of other things. Considering we're this close to $1k at the New Year, and it's been steady, anything is possible now.

It is not a surprise that the bitcoin will reach 1k $ by the end of this year, and maybe the gold is far from pairing with the bitcoin price , but we might see some big changes in the next year, who knows maybe the price will go down significantly or maybe the gold will jump, no one has a clear idea on what things turn out to be.

[JimboToronto]

The Bitcoin price is raising and the Gold price is falling. We are only a few USD away from parity, maybe even a head on head rally between the too.

What will happen if BTC beats Gold?

It will get media attention and maybe a few people will learn about Bitcoin as a result.

Other than that it doesn't mean much. As others have stated, a troy ounce is an arbitrary measure. It could as easily be a gram, a dram, a grain, or a carat.

Anyone care to calculate what a carat of .999 gold is worth in satoshis at today's prices?

edit: just did it myself... 1,036,190 satoshis /carat of fine gold. wow. 

[Biodom]

All gold (Au) transmutates into a new stable 'island' element, Nakomotin (Nn)   

[Hazir]

look at your chart at december 2013.. when it nearly hit parity.

people got scared and thought it wont be sustainable

this time it may do the same thing again and plunge down or it may hold at parity or it may exceed gold.
no one can predict the future but only wager the chances based on past trends and also current trends/tendancies

I thought it already happened, but people keep forgetting about it... I always assumed that the first time Bitcoin reached 1:1 parity with gold happened on 29 November 2013.
2013 was a dismal year for gold while Bitcoin was rising like crazy so when bitcoin reached its ATH at $1242 gold parity was reached (mainly due to exceptionally low gold price at that time).

[arara]

nothing

can't people people going to gold to BTC or from BTC to gold only because the price changed

other stuff probably are in the same price level, but nothing will happen too if one becomes cheaper or more expensive than the other

[Kevin77]

What will happen if BTC beats Gold?

The wall street investors usually do not care traditional values, they just want travel with secured investment types. Maybe after bitcoin outnumber gold's prices, it may get the attentions of big investors and then the real rally of bitcoin may take off.

But I read to attract wall street investors, a stock must need minimum 100 billion market cap. But that will not happen until bitcoin gains 5x value of one ounce of gold.

[pooya87]

gold and bitcoin aren't really directly connected,  so apart from the news and possibly lots of media coverage nothing serious is going to happen. but that is not a small thing. it means lots of attention and since it is a positive attention, makes it good and it can lead to more people coming in and price going even higher.

[bitjoin]

There are about 210,000,000 kg of gold in the world.
And so, 1 BTC is comparable to 10 Kg of gold.

Perfect, this is how we calculate parity.

So thats like $300k or $400k per BTC for parity i think. It will be funny to see how the media will bend this to the price per ounce like its even relevant.

[BitcoinPC]

Well, now i have no enough information about Gold, but so far as i know bitcoin can't bear the gold and gold can't bear the bitcoin. Because both are investment ways, both give us a lot of profit from different kind of people. So if gold suddenly down, so it doesn't matter, because many time gold suddenly down and on the other time, it is up, and same situation is here in bitcoin, sometime bitcoin price down and on the other day bitcoin going up. So i don't think that, it mean Bitcoin beat the Gold.