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Author Topic: Investors dumping gold-switching to bitcoin?  (Read 1980 times)
digitokash
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January 25, 2017, 07:45:00 PM
 #1

Was reading a review about Simpefx day trading platform. As Im looking to get into Forex trading, and get away from gold. (for now)
Looks like im not the only one. Tons of investors are dumping gold....

"Gold has been on a wild ride since the U.S. election, plummeting immediately after Election Day and regaining a bit of ground since the final week of 2016."


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January 25, 2017, 07:57:30 PM
 #2

A trader should appreciate a wild ride, since this is how the make money. But Bitcoin price is usually also all over the place most of the time. However dumping all your Gold and putting it all on Bitcoin is not a smart move. Taking out a portion of your Gold and buying Bitcoin on the other hand is a good move.

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January 25, 2017, 08:02:26 PM
 #3

old news

sell 1ounce gold for $1200
buy bitcoin at $900 (1.33btc)

wait for bitcoin to go to $1200.. sell 1.33btcc for gold.(get 1.33 ounces)

this is why bitcoin topped out at $1200 2 times in the last 4 years and then sunk back down

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Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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January 25, 2017, 08:03:26 PM
 #4

People are more confident in the current state of the economy and when this happens, usually gold is traded off for better investment alternatives.

By no means are people afraid, the reverse boom effect is now shifting to greater times.

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January 26, 2017, 05:04:06 AM
 #5

Yes indeed now started a lot of gold investors are switching to bitcoin. Bitcoin has the equivalent of gold for those who keep their money outside of the central authority. But after a dramatic price movement and began to calm down, bitcoin has seen more attractive as a storage device wealth so as start a lot of people using bitcoin. But if I maybe interested in both seeing equally profitable, so that both are still worth trying.
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January 26, 2017, 05:11:39 AM
 #6

old news

sell 1ounce gold for $1200
buy bitcoin at $900 (1.33btc)

wait for bitcoin to go to $1200.. sell 1.33btcc for gold.(get 1.33 ounces)

this is why bitcoin topped out at $1200 2 times in the last 4 years and then sunk back down

I prefer it like this:
buy bitcoin at $900
wait for it to go to $1200
Sell
Wait for it to go down
Buy more bitcoin!

Gold and silver are a trap because they become hard to sell when you've held for years. My parents used to have silverware and coins stacked up somewhere in the house for over 40 years and never sold it. I'm sure they will die before they sell that stuff. Who needs a new car or a house when precious metals are so pretty and shiny.  Roll Eyes
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January 26, 2017, 05:25:49 AM
 #7

old news

sell 1ounce gold for $1200
buy bitcoin at $900 (1.33btc)

wait for bitcoin to go to $1200.. sell 1.33btcc for gold.(get 1.33 ounces)

this is why bitcoin topped out at $1200 2 times in the last 4 years and then sunk back down

I prefer it like this:
buy bitcoin at $900
wait for it to go to $1200
Sell
Wait for it to go down
Buy more bitcoin!

Gold and silver are a trap because they become hard to sell when you've held for years. My parents used to have silverware and coins stacked up somewhere in the house for over 40 years and never sold it. I'm sure they will die before they sell that stuff. Who needs a new car or a house when precious metals are so pretty and shiny.  Roll Eyes

you prefer it this way because you don't diversify.
but i like to diversify, obviously always buying and holding bitcoin for the long term but i also have gold and some stocks in my name to take advantage of other markets and their price volatility to make more money. but my main focus is on cryptocurrencies, bitcoin long and altcoins short.

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January 26, 2017, 10:56:50 AM
 #8

old news

sell 1ounce gold for $1200
buy bitcoin at $900 (1.33btc)

wait for bitcoin to go to $1200.. sell 1.33btcc for gold.(get 1.33 ounces)

this is why bitcoin topped out at $1200 2 times in the last 4 years and then sunk back down

I prefer it like this:
buy bitcoin at $900
wait for it to go to $1200
Sell
Wait for it to go down
Buy more bitcoin!

Gold and silver are a trap because they become hard to sell when you've held for years. My parents used to have silverware and coins stacked up somewhere in the house for over 40 years and never sold it. I'm sure they will die before they sell that stuff. Who needs a new car or a house when precious metals are so pretty and shiny.  Roll Eyes

Organized gold and silver markets don`t work that way.
People there are trading monetary gold (i think that was the term),not  golden jewelry and coins. Smiley

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January 26, 2017, 11:52:19 AM
 #9

People are diversifying to include some Bitcoin. They aren't going to put large amounts into it since it is still high risk, but it is good that people are looking to invest in Bitcoin.
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January 26, 2017, 12:02:11 PM
 #10

Was reading a review about Simpefx day trading platform. As Im looking to get into Forex trading, and get away from gold. (for now)
Looks like im not the only one. Tons of investors are dumping gold....

"Gold has been on a wild ride since the U.S. election, plummeting immediately after Election Day and regaining a bit of ground since the final week of 2016."


Full Article Here

If that is true then we will expect another price inflation in the bitcoins price. Bitcoin will become much stronger even after the bad impact of Chinese exchangers market manipulation and creation of fake volumes. This is a good thing that even forex investors have known bitcoins that much and its only a matter of time that bitcoins will reach the masses.
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January 26, 2017, 12:07:05 PM
 #11

old news

sell 1ounce gold for $1200
buy bitcoin at $900 (1.33btc)

wait for bitcoin to go to $1200.. sell 1.33btcc for gold.(get 1.33 ounces)

this is why bitcoin topped out at $1200 2 times in the last 4 years and then sunk back down

I prefer it like this:
buy bitcoin at $900
wait for it to go to $1200
Sell
Wait for it to go down
Buy more bitcoin!

Gold and silver are a trap because they become hard to sell when you've held for years. My parents used to have silverware and coins stacked up somewhere in the house for over 40 years and never sold it. I'm sure they will die before they sell that stuff. Who needs a new car or a house when precious metals are so pretty and shiny.  Roll Eyes

Your parents probably looked at it like savings, not investment, thats why they are hard to sell it. I would rather have it as physical gold stashed somewhere safe (as safe as it gets) then in stocks or bonds. And wouldnt mind selling it when opportunity comes. And I wouldnt put all my money on one thing, gold or bitcoin, whatever.
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January 26, 2017, 12:30:34 PM
 #12

old news

sell 1ounce gold for $1200
buy bitcoin at $900 (1.33btc)

wait for bitcoin to go to $1200.. sell 1.33btcc for gold.(get 1.33 ounces)

this is why bitcoin topped out at $1200 2 times in the last 4 years and then sunk back down

This will work until it doesn't. Eventually we will go way beyond $1200 and the people that sold for gold expecting the dip will miss on all the new gains. It's better to just hold it all. When bitcoin pumps for real it will go higher than everyone expects.
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January 26, 2017, 12:52:15 PM
 #13

old news
sell 1ounce gold for $1200
buy bitcoin at $900 (1.33btc)
wait for bitcoin to go to $1200.. sell 1.33btcc for gold.(get 1.33 ounces)

so in other words those who did it only did it two times in their whole life?!!! in the past 8 years once in 2013 and once in end of 2016 early 2017
that doesn't make sense Smiley

Quote
this is why bitcoin topped out at $1200 2 times in the last 4 years and then sunk back down

the reason why price went down twice from that price is because first time it went from $100-200 to $1200 in less than a month with MtGox fake pumps
and this time it went from $780 to $1160 in a couple of weeks again needed a correction.

--looking for signature--
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January 26, 2017, 12:58:08 PM
 #14

If I had too much gold and only a few Bitcoins, I would certainly do the same thing these investors are doing. I see much better possibilities in Bitcoin regarding potential for price increase, especially in the long run. Certain aspects give gold more stability, but if the investor wants to make big gains, he/she needs to take greater risks.
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January 26, 2017, 01:31:24 PM
Last edit: January 26, 2017, 01:43:33 PM by serjent05
 #15

old news

sell 1ounce gold for $1200
buy bitcoin at $900 (1.33btc)

wait for bitcoin to go to $1200.. sell 1.33btcc for gold.(get 1.33 ounces)

this is why bitcoin topped out at $1200 2 times in the last 4 years and then sunk back down


Pretty much a good strategy for me Smiley. Who ever doing this stuff will have both the currency and gold at the end Smiley Taking advantage of volatility of one item to accumulate more of the more stable items.  So now I know what to do next time we have a dip after a pump in Bitcoin.

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January 26, 2017, 01:38:08 PM
 #16

old news

sell 1ounce gold for $1200
buy bitcoin at $900 (1.33btc)

wait for bitcoin to go to $1200.. sell 1.33btcc for gold.(get 1.33 ounces)

this is why bitcoin topped out at $1200 2 times in the last 4 years and then sunk back down


Pretty much a good strategy for me Smiley. Who ever doing this stuff will have both the currency at the end Smiley Taking advantage of volatility of one item to accumulate more of the more stable items.  So now I know what to do next time we have a dip after a pump in Bitcoin.
Planning to buy gold or buy bitcoin next time we have a dip after get pump?
Bitcoin value could increase faster than gold but the value of gold won't fall too much and good to store your money.
Classic story of bitcoin and gold, I prefer to hold both of it but surely bitcoin is better.
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January 26, 2017, 01:53:08 PM
 #17

since i don't use gold as my investment, i never knew that investors dumping gold and if they are switching to bitcoin and if this news is real, it will be good for bitcoin because more people will using bitcoin and they will use bitcoin for many ways and not just for trading. beside that, in forex, we know that bitcoin is used to trade and forex have leverage to gain more bitcoin.

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January 26, 2017, 02:15:20 PM
 #18

So this is the reason the price of gold is dropping. It already shed 30$ just this week. I am just monitoring it for Spark Profit.

since i don't use gold as my investment, i never knew that investors dumping gold and if they are switching to bitcoin and if this news is real, it will be good for bitcoin because more people will using bitcoin and they will use bitcoin for many ways and not just for trading. beside that, in forex, we know that bitcoin is used to trade and forex have leverage to gain more bitcoin.

You are right, this will reflect in the price of bitcoin also if the news is real. I think we are feeling the effect now because the price of bitcoin is back to 900 + level again. I just hope it pump bitcoin more so we can reach 1000 level again.

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January 26, 2017, 02:57:28 PM
 #19

I don't think so. The investor base of Gold and Bitcoin are two different from each other.
Gold investors are still traditional ones and don't have much interest in tech based Bitcoin. However, we can compare between stock investors and bitcoin investors.
Also in my country, Gold has highest rate in 2015 and now around 5-6% below highest. So Bitcoin doesn't marked much impact on it.

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January 26, 2017, 03:18:51 PM
 #20

Was reading a review about Simpefx day trading platform. As Im looking to get into Forex trading, and get away from gold. (for now)
Looks like im not the only one. Tons of investors are dumping gold....

"Gold has been on a wild ride since the U.S. election, plummeting immediately after Election Day and regaining a bit of ground since the final week of 2016."


Full Article Here
Bitcoin has really good features in the end of the month i read it into one article about bitcoin saying that bitcoin can really reach speculation price of 2000$ usd dollar per coin, And other company now are starting to use bitcoin also investors who really switch their gold or their are now selling gold and switch into bitcoin.



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