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Author Topic: Remember when Bitcoin reached parity with the $ it's now just passed Gold  (Read 475 times)
calkob
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March 02, 2017, 05:41:04 PM
 #1

Bitcoin is now worth more Gold.  I can remember when it was a big deal when it reached parity with the US Dollar.  And now it is way beyond the dollar, do you think that we will be looking back in 8 years and saying "remember when Bitcoin reached parity with gold" and at that time it will be way beyond that.  Next thing is 1 BTC reaches parity with the Dow.   Shocked
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User365
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March 02, 2017, 05:50:23 PM
 #2

Bitcoin is now worth more Gold.  I can remember when it was a big deal when it reached parity with the US Dollar.  And now it is way beyond the dollar, do you think that we will be looking back in 8 years and saying "remember when Bitcoin reached parity with gold" and at that time it will be way beyond that.  Next thing is 1 BTC reaches parity with the Dow.   Shocked

Well saying "remember when Bitcoin reached parity with gold" is from my point of view strange because gold is a type of material and you can get it in different sizes. So do you refer to 1kg/1oz/one specific type of coin/... ?

I think the only valid way to tell what is worth more is it to put the 21 million BTC available in relation to the whole amount of gold on the world (which is hard to tell because there is still some under the earth) and of course put that in relation to the price.

PS: i know you relate to xau, just saying

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March 02, 2017, 06:04:51 PM
 #3

Bitcoin is now worth more Gold.  I can remember when it was a big deal when it reached parity with the US Dollar.  And now it is way beyond the dollar, do you think that we will be looking back in 8 years and saying "remember when Bitcoin reached parity with gold" and at that time it will be way beyond that.  Next thing is 1 BTC reaches parity with the Dow.   Shocked

Well saying "remember when Bitcoin reached parity with gold" is from my point of view strange because gold is a type of material and you can get it in different sizes. So do you refer to 1kg/1oz/one specific type of coin/... ?

I think the only valid way to tell what is worth more is it to put the 21 million BTC available in relation to the whole amount of gold on the world (which is hard to tell because there is still some under the earth) and of course put that in relation to the price.

PS: i know you relate to xau, just saying
Just as expected and predicted, I know you can hold gold in your hand but you should consider that there are hundreds of millions invested solely to protect the integrity and security of bitcoin's blockchain, I'm talking about the miners, so there are actually physical infrastructure backing the whole network.
And yes we'll be even more proud and wealthy 8 years from now, bitcoin is truly a phenomenal event and no longer just an idea, take the recent debates about serious improvements to the network even with them being an advantage and an improvement to further the development into the future yet proven to be extremely difficult to simply talk about something and immediately doing it. all the nodes and miners resisting for change until seeing some practical support from the community.

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Hydrogen
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March 02, 2017, 06:11:53 PM
 #4

With counterfeiters known to use tungsten to make fake gold bullion bars, one might say gold is more vulnerable to fraud than btc.

Gold is also more difficult to transport, easier to steal & more difficult to store safely.

Bitcoin definitely has some advantages over gold.   Smiley

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March 02, 2017, 07:23:59 PM
 #5

With counterfeiters known to use tungsten to make fake gold bullion bars, one might say gold is more vulnerable to fraud than btc.

Gold is also more difficult to transport, easier to steal & more difficult to store safely.

Bitcoin definitely has some advantages over gold.   Smiley

I agree with you but in case of a millenium bug, gold definitely wins  Wink

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March 02, 2017, 07:51:52 PM
 #6

Bitcoin is now worth more Gold.  I can remember when it was a big deal when it reached parity with the US Dollar.  And now it is way beyond the dollar, do you think that we will be looking back in 8 years and saying "remember when Bitcoin reached parity with gold" and at that time it will be way beyond that.  Next thing is 1 BTC reaches parity with the Dow.   Shocked

It is true that's what we have seen in our faces and congratulations it happened in our own very life time still in this world but the most important is sustainability at that because when the price might fall, it won't notify anybody and might take another long while to recover to the feat that was achieved today but hopefully the price will be maintained and we don't get to witness any event that will take us back to the bad old days...
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March 02, 2017, 09:20:27 PM
 #7

Another big milestone!

That said, I don't remember when BTC reached parity with the Dollar. I wasn't active until BTC reached parity with $10. Needless to say it's amazing to see how far things have come. We now see a bitcoin mention in a mainstream media article twice every other week, when before it was twice yearly.

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March 02, 2017, 09:32:19 PM
 #8

I think we just need to be happy about it because the bitcoin price is not still popping. And when someone compared that to gold, I think it is not that important, yes it is a good feat by bitcoin, I know that, but bitcoin did this feat a while ago, so it is not a big news for me. I will be very happy if bitcoin beats its own record at $1800.

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March 02, 2017, 10:14:59 PM
 #9

Well maybe right now we are happy that it had just passed gold. Someday maybe this will be yet another historical mark on bitcoin that made people trust it more than they trust it before this event happens. Someday though we might not speculate about 1000$ and such as bitcoin's future price but maybe more, way more than what many are speculating now.
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March 04, 2017, 06:50:26 AM
 #10

I think we just need to be happy about it because the bitcoin price is not still popping. And when someone compared that to gold, I think it is not that important, yes it is a good feat by bitcoin, I know that, but bitcoin did this feat a while ago, so it is not a big news for me. I will be very happy if bitcoin beats its own record at $1800.

100 years ago there was a gold standart for all the national currecies.Maybe in the future the central banks will adopt a bitcoin standart and all the national currencies will be covered with bitcoin.
I think it`s important that bitcoin price beats the gold price for that reason.

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March 04, 2017, 08:44:19 AM
 #11

It doesn't matter much actually. For example, one Omani Riyal is equivalent to 2.6 US Dollar. Does that mean that the Omani Riyal is more valuable than the US Dollar? Same here. The market cap of BTC is just around $20 billion, which is just 0.3% of that of gold.

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March 04, 2017, 11:29:52 AM
 #12

It doesn't matter much actually. For example, one Omani Riyal is equivalent to 2.6 US Dollar. Does that mean that the Omani Riyal is more valuable than the US Dollar? Same here. The market cap of BTC is just around $20 billion, which is just 0.3% of that of gold.
But the buying capacity of your mentioned one Omani Riyal is more than one dollars. In some sense it really matters. Even it is just an imbalanced comparison, traders and investors will value this a weighing criteria toward bitcoin side. Hence we can expect more buying to happen with bitcoins.

Bitcoin will keep on moving from the point it stat attracting new investors then those investors will turn slowly as adopters. This way main stream adoption of bitcoin is going to happen very soon.

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Xester
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March 04, 2017, 11:37:06 AM
 #13

It doesn't matter much actually. For example, one Omani Riyal is equivalent to 2.6 US Dollar. Does that mean that the Omani Riyal is more valuable than the US Dollar? Same here. The market cap of BTC is just around $20 billion, which is just 0.3% of that of gold.

You are right in that point that its no issue if bitcoin is much valuable than gold or vice versa.  It is hard really to compare gold with bitcoins, with bitcoins we use the counting numbers like 1 bitcoin, 2 bitcoins but what are we going to use in gold in order for us to compare it with bitcoin grams, ounce, kilo, tons or per karat. But it does not matter anymore the only thing that matters is that bitcoin is always increasing in value and that is what is important.
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March 04, 2017, 12:06:09 PM
 #14

Not much of a feat in my eyes. Bitcoin is still very, very cheap. Not many people understand the true potential of bitcoin, it being a proof of concept and the original blockchain implementation.

When one bitcoin is enough to buy me a house for myself, i'll be impressed.

WTS 27/100 funded bitpiece, dm me offers

Also looking for a signature campaign, dm me for that too
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March 04, 2017, 12:43:53 PM
 #15

Yes, A single bitcoin has surpassed the value of an ounce of gold for the first time
as its price surged to an all-time high. However, I want to see bitcoin become stable
the same characteristics of durability like gold or silver. And if bitcoin proves that
it has the kind of staying power as gold then mass adoptation will follow as well.
But it will still years I think to achieve a stable price for it. This is still just another
milestone in bitcoin history, to surpass the price of gold. So let's just enjoy the ride
and wait until March 11 and see what will happen.




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March 04, 2017, 01:10:35 PM
 #16

With counterfeiters known to use tungsten to make fake gold bullion bars, one might say gold is more vulnerable to fraud than btc.

Gold is also more difficult to transport, easier to steal & more difficult to store safely.

Bitcoin definitely has some advantages over gold.   Smiley

I agree with you but in case of a millenium bug, gold definitely wins  Wink
They have their own disadvantage gold and bitcoins. Users may prefer gold over bitcoin and bitcoin over gold because we do have our own views related to each thing. I cant still believe that bitcoin could able to surpass golds price and lets see & follow on what bitcoin would potential go over regarding on its value.

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March 04, 2017, 01:43:03 PM
 #17

With counterfeiters known to use tungsten to make fake gold bullion bars, one might say gold is more vulnerable to fraud than btc.

Gold is also more difficult to transport, easier to steal & more difficult to store safely.

Bitcoin definitely has some advantages over gold.   Smiley

I agree with you but in case of a millenium bug, gold definitely wins  Wink
They have their own disadvantage gold and bitcoins. Users may prefer gold over bitcoin and bitcoin over gold because we do have our own views related to each thing. I cant still believe that bitcoin could able to surpass golds price and lets see & follow on what bitcoin would potential go over regarding on its value.

The value of gold worth can't be just directly decided based on their current market prices because gold has a solid stability of its prices and its prices will not fluctuate so much, and many big institutions and governments have invested in it. But bitcoin prices not so stable compared to gold. It can come down very fast if somethings goes wrong. I still value gold is best and consider both for my investments because both has different advantages.
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