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Author Topic: Bitcoin has defeated gold  (Read 28024 times)
tbonetony
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March 02, 2017, 09:20:09 PM
 #21

This is invalid comparison for the reasons others have mentioned above.

One Apple share today is around $139 and IBM is at $180/share, so IBM is more valuable than Apple? Oh, and I sold my R4 miner last week for $1500, so my miner was 10+ times more valuable than Apple the company?

If you think this is a milestone, let's set a milestone for every $10 change in btc price. I am sure we have enough items for sale at different price tag so you can celebrate every half an hour?

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March 02, 2017, 09:25:37 PM
 #22

Well, bitcoin's price just got higher than gold, but that doesn't mean that bitcoin is better than gold. Gold is mined like bitcoins but gold are older than bitcoin and it is still be there. Gold is Gold, Bitcoin is Bitcoin.
I dont really care really whether bitcoin got its price higher than gold because I do not really own or make profit from gold.

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March 02, 2017, 09:35:02 PM
 #23

Why do people think 1 troy oz gold equates to 1BTC for direct comparison ?

Why not 1g, an imperial oz, a tola, a tael, a kg?

You cannot make a direct comparison between the two.





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March 02, 2017, 09:40:34 PM
 #24

I think bitcoin has not really defeated gold since the gold market was larger than crypto-currency market right now and the users of gold is more than the user of crypto-currency. Bitcoin just passed gold in terms of price but it didn't defeat it yet and I guess it will never be since bitcoin is seen as an investment opportunity by many, not as a currency that can be used to pay online for services.

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March 02, 2017, 09:42:59 PM
 #25

I think bitcoin has not really defeated gold since the gold market was larger than crypto-currency market right now and the users of gold is more than the user of crypto-currency. Bitcoin just passed gold in terms of price but it didn't defeat it yet and I guess it will never be since bitcoin is seen as an investment opportunity by many, not as a currency that can be used to pay online for services.

I would even disagree with this statement, if bitcoin had passed gold in terms of price it would have exceeded its market cap and its not even 0.3% of it (physical market not including leveraged paper contracts)

Total physcial gold market cap = $7,412,468,544,642
Total bitcoin market cap =              $20,219,997,543

And thats not even counting the Comex 145:1 leverage paper shit on top.





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March 02, 2017, 09:45:37 PM
 #26

Why do people think 1 troy oz gold equates to 1BTC for direct comparison ?

Why not 1g, an imperial oz, a tola, a tael, a kg?

You cannot make a direct comparison between the two.
We are comparing apples and oranges here, but you have to admit that this comparison is inevitable.
Why not 1g or other units? It's simple, because 1 troy ounce is within current price range of bitcoin.
In the future when bitcoin will maybe reach $40k or more we will be comparing BTC to kilogram of gold.


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March 02, 2017, 09:52:03 PM
 #27

already know that it will happen soon but it got much soon what I expected .
Well here no doubt that it's price will cross 1500$/BTC . Recently a news in many blogs and sites is spreading that the price will go to about 30-40% more ,And the main news source is from coindesk , Since we can't believe at any predictions but we can see reality that is happening with us the current price .


I admire your foresight.
I started to get it when it was $ 450.
I sold it when the price was $ 900.
I'm very regretful.


arizn

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BitDane
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March 02, 2017, 11:32:18 PM
 #28

already know that it will happen soon but it got much soon what I expected .
Well here no doubt that it's price will cross 1500$/BTC . Recently a news in many blogs and sites is spreading that the price will go to about 30-40% more ,And the main news source is from coindesk , Since we can't believe at any predictions but we can see reality that is happening with us the current price .


I admire your foresight.
I started to get it when it was $ 450.
I sold it when the price was $ 900.
I'm very regretful.


You can always come back you know, It is not yet late if you are thinking of 5k USD Smiley.



It is a great news to know Bitcoin had already surpassed the gold price.  It is always inspiring if something like this happen to the economy that we are actively participating and supporting.  I hope Bitcoin will be the highest among the stocks / commodities being traded.




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March 03, 2017, 12:50:55 AM
 #29

Seems like overkill, I'm sure gold is still superior compared bitcoin. can not be disputed that the current bitcoin looks very favorable, but I'm not sure it will survive until a long time.
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March 03, 2017, 12:56:30 AM
 #30

Why do people think 1 troy oz gold equates to 1BTC for direct comparison ?

Why not 1g, an imperial oz, a tola, a tael, a kg?

You cannot make a direct comparison between the two.
of course you cannot, this whole thing always sounded like bullshit for me, the only way you can compare it is by checking the market caps of both and currently gold market cap is way bigger than the bitcoins thus gold is still more powerful. But in the future if bitcoins keep on evolving with time in my opinion they might become stronger than the gold is at the moment and maybe even in several decades replace the fiat we are using every single day.
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March 03, 2017, 01:04:35 AM
 #31

Bitcoin: $1260/BTC
Gold: $1241/xau
Well, I can not believe that the Bitcoin prices has crossed over gold sooner than I expect. I thought the process would be finished in April. Wow, Bitcoin is truly worth and everyone who has sold their Bitcoin has made a huge mistake. Nothing can stop Bitcoin right now.
This is cool and all, but gold moves a lot more money than bitcoin does, when the bitcoin market moves as much money as the gold market then we can proclaim victory, so while this is good news, bitcoin is far away to defeat gold.
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March 03, 2017, 01:07:02 AM
 #32

it's crossed gold before...briefly
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March 03, 2017, 01:10:30 AM
 #33

You can always come back you know, It is not yet late if you are thinking of 5k USD Smiley.



It is a great news to know Bitcoin had already surpassed the gold price.  It is always inspiring if something like this happen to the economy that we are actively participating and supporting.  I hope Bitcoin will be the highest among the stocks / commodities being traded.

maybe, It will be 2400USD before the end of this year, and 10,000 USD in 2020
Nobody can predict it.


arizn

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March 03, 2017, 01:16:25 AM
 #34

gold is getting down $1233 now and bitcoin $1272 a good move for bitcoin in early March and I hope this is a step of bitcoin to increasingly recognized by the public

          
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OROBTC
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March 03, 2017, 01:40:53 AM
 #35

...

While BTC's price move is very impressive, the above replies show that other than a relatively meaningless (but symbolic, OK) ratio of BTC:Au are indeed two different and too comparable measures.  BTC:Au price ratio (about 1.03 now) does show relative strength of BTC to gold over the past few years.

But I assign a higher probability of BTC going down below $1000 (say) than I would gold.  Of course a BTC price over $2000 is more probable than a gold price over $2000.

Also, gold will still be around in 10 years, or 20, BTC may not be.

They are different investments with different fundamentals.  Own both!
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March 03, 2017, 01:57:07 AM
 #36

Bitcoin: $1260/BTC
Gold: $1241/xau
Well, I can not believe that the Bitcoin prices has crossed over gold sooner than I expect. I thought the process would be finished in April. Wow, Bitcoin is truly worth and everyone who has sold their Bitcoin has made a huge mistake. Nothing can stop Bitcoin right now.
Unbelievable, bitcoin has reached and settle new ATH right now : $1276.97 on coinbase, fabulous.
Yes, bitcoin value has surpassed gold and seems still climb up during ETF approval on process, I don't know but maybe others already got leaked news about SEC final decision? Or people expect SEC will approve ETF, just maybe.

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March 03, 2017, 02:27:40 AM
 #37

gold is getting down $1233 now and bitcoin $1272 a good move for bitcoin in early March and I hope this is a step of bitcoin to increasingly recognized by the public
Bitcoin's price may get a lot higher than the gold price for the following weeks. From which may attract the publics eye. And when it does bitcoin may probably gets a big step forward against gold.


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March 03, 2017, 03:45:08 AM
 #38

Well this month, I think bitcoin defeated Gold of its price because it became higher for the next days and its not impossible Gold will be defeated. So we must take this better opportunity so that investments will be the best options to do today because its so profitable. I must recommend bitcoin with my friend to invest and earn bitcoin from service section of btc talk and should learn bitcoin now for better future.

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March 03, 2017, 04:01:33 AM
 #39

Defeated?

You are comparing apples to oranges.

Comparing 1 bitcoin's price to an ounce of gold's price absolutely makes no sense at all. If you want to make some sense, compare their market cap's.

Luckily for you, zerohedge already did that.



Can you see the tiny %0.1?

%49 vs %0.1

Who defeated who? Wake up.
http://www.bbc.com/news/business-39149475

I think this is just a hype from the bitcoin ETF.... But the total of the market capitalization of the gold is over trillion dollar.

Bitcoin never defeat the gold. I guess this is fact.


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March 03, 2017, 04:03:53 AM
 #40

gold is getting down $1233 now and bitcoin $1272 a good move for bitcoin in early March and I hope this is a step of bitcoin to increasingly recognized by the public
Bitcoin's price may get a lot higher than the gold price for the following weeks. From which may attract the publics eye. And when it does bitcoin may probably gets a big step forward against gold.

Bitcoin prices may be higher as of now and in future as well, but I don't think it will overtake the popularity of gold investments. Most of the governments invested in these gold but none the governments invested in bitcoins yet. Bitcoins are popular only in gambling and porn industry now, and only a few % of people are using bitcoins as of now in the world. So it is not so easy to overtake gold.
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