Bitcoin acting like proxy for Gold ?

[anneiS_02]

Bitcoin price is acting like it is related to the gold price. This is happening regardless of whether you or I think Bitcoin has or should have any inherent value.
Bitcoin may not be a wise store of wealth, but it is reaching and achieving Facebook-style dominating and recognition.
An even 1.0 Bitcoin to Gold Ratio was strong resistance for a long time, but now bitcoin has broken above it and the gold price may act as strong support.
Bitcoin has been acting like gold, not silver. And if bitcoin even began to move closer to the total market value of gold.

[FanatMonet]

Bitcoin price is acting like it is related to the gold price. This is happening regardless of whether you or I think Bitcoin has or should have any inherent value.
Bitcoin may not be a wise store of wealth, but it is reaching and achieving Facebook-style dominating and recognition.
An even 1.0 Bitcoin to Gold Ratio was strong resistance for a long time, but now bitcoin has broken above it and the gold price may act as strong support.
Bitcoin has been acting like gold, not silver. And if bitcoin even began to move closer to the total market value of gold.

Gold is a more predictable market in which everyone knows how much gold, how much will be extracted and so on. But BTC is more prone to price jumps, and some fear because of this BTC and it's hard to accept BTC as a payment instrument because of this.

[anneiS_02]

Thinking about it,
Gold value is much stable .
But it is amazing how Bitcoins move closer and closer to the total market value of gold.

Is it possible that it can exceed more than gold value ? What do you think ?

[GreenBits]

Thinking about it,
Gold value is much stable .
But it is amazing how Bitcoins move closer and closer to the total market value of gold.

Is it possible that it can exceed more than gold value ? What do you think ?

I'm thinking that bitcoin is starting to become attractive to the same class of investor as gold, for the same reasons. Unless you are a gold bug and you need the physicality to make it real, paper gold and bitcoin are way more liquidable and thus, much easier to make profit on.  Gold actually has physical utility, you can use it for products and such, yet bitcoin has a higher value. Which is absolutely insane in my opinion..

[Gilboa]

I'm thinking that bitcoin is starting to become attractive to the same class of investor as gold, for the same reasons. Unless you are a gold bug and you need the physicality to make it real, paper gold and bitcoin are way more liquidable and thus, much easier to make profit on.  Gold actually has physical utility, you can use it for products and such, yet bitcoin has a higher value. Which is absolutely insane in my opinion..

I wouldn't say it's as farfetched as you may think. This is the next evolutionary step for money.

The road to understanding Bitcoin really starts when you begin to try and wrap your head around fiat currencies.

It's one of the many eureka moments that come about if you've been involved in the space for some time.

[Sled]

Bitcoin is not acting like a proxy for gold because bitcoin has its own way and people are just saying that it is like acting like gold because of the price growth of bitcoin that is like gold but in fact, bitcoin has its own way why its price is keep on rising like the good development and promising features that can be used in the future by the people in the whole world.

[acid31]

bitcoin is not like gold, the reason why currency using gold as a guarantee because gold value is stable. And gold has limited amount.
Is bitcoin too ? you can answer that.

and that's why bitcoin has it's own way to increase or decrease the value.
a couple months ago, I remember bitcoin price at $700,- and now even more than $2000,-.

I think, it's purely about supply and demand, but the negative thing is, there is chance for someone to monopoly the price, someone or some people who have a lot bitcoin or resources.
Why I say that ? because until now, for myself, I don't even know what makes bitcoin has a value except that everybody want it.

[giveen]

No naming bitcoin as gold will just be a insult for bitcoin. Before people did compare it with gold but always bitcoin won against it , now bitcoin has gone way for far than gold has ever even reached , bitcoin is just bitcoin , bitcoin can be called like a new investment opportunity like estates , stock or even gold.

[PrinceCaspian]

Bitcoin price is acting like it is related to the gold price. This is happening regardless of whether you or I think Bitcoin has or should have any inherent value.
Bitcoin may not be a wise store of wealth, but it is reaching and achieving Facebook-style dominating and recognition.
An even 1.0 Bitcoin to Gold Ratio was strong resistance for a long time, but now bitcoin has broken above it and the gold price may act as strong support.
Bitcoin has been acting like gold, not silver. And if bitcoin even began to move closer to the total market value of gold.

Gold is a more predictable market in which everyone knows how much gold, how much will be extracted and so on. But BTC is more prone to price jumps, and some fear because of this BTC and it's hard to accept BTC as a payment instrument because of this.

Yeah thats the big difference advantage and disadvantage of bitcoin to gold and gold to bitcoins.Volatility in bitcoins market is really  fast,you may lose money in just a blink of an eye due to high volatility and you may earn too.In gold that has low volatility is good for long term investment and earning

[radjie]

As we know today the rise in bitcoin prices could rise beyond the gold price, So the price of gold can be defeated by bitcoin so that the movement of bitcoin price increase faster than gold.

[farharhadi]

Do not let the same bitcoin insult just because naming bitcoin because of gold. Bitcoin has now moved away from the gold that has never existed,
Bitcoin can be called like the latest investment opportunities like plantations etc.

[avikz]

Bitcoin price is acting like it is related to the gold price. This is happening regardless of whether you or I think Bitcoin has or should have any inherent value.
Bitcoin may not be a wise store of wealth, but it is reaching and achieving Facebook-style dominating and recognition.
An even 1.0 Bitcoin to Gold Ratio was strong resistance for a long time, but now bitcoin has broken above it and the gold price may act as strong support.
Bitcoin has been acting like gold, not silver. And if bitcoin even began to move closer to the total market value of gold.

Bitcoin and Gold are two different assets classes and both are technically and fundamentally different. Gold has many other uses apart from only investment but bitcoin is good as an investment instrument. You can't make ornaments with your bitcoins.

So as an investor of bitcoin, I must say bitcoin is outplaying gold since long in terms of growth percentage since long. Gold has never given that much of return that bitcoin has given in the last year. So I don't think gold can be a good competitor to bitcoin ever. Bitcoin is great for investment while gold is good for preserving your wealth.

[TrumpD]

There is no way the price of bitcoin prices is linked with the price of gold. The good thing about gold is that it's been there since forever, stable and one can make very good predictions. Bitcoin and crypto generally is in it's infancy, and nobody knows for sure how big it will grow. I expect unprecedented price rises in the near future.

[milewilda]

It may act the same as gold but making it as a proxy would really not be possible. They might have value but we cant really compare of a digital currency on a precious metal which is already here for how many years. We do know that gold does really have value and even bitcoin surpasses its value but still gold doesnt really be affected at all.We us people are just making comparison among these two things.

[Angel777]

Bitcoin  now is acting like proxy of gold.That after a long time past by it become more expensive.Its not a lost if you keep it but gives you a big profit for the future.
Karrats of gold is stable but the price is increasing as time goes by.People worth it because the value of bitcoin is in a very good price same as gold.

[izanagi narukami]

Bitcoin is unique investment and it's has unique way to being popular by seeing bitcoin value able to compete gold's value for example
Let see that bitcoin was being made on 2010 meanwhile gold already exist for a long time but bitcoin able to chase gold's popularity

[Hazir]

Bitcoin price is acting like it is related to the gold price. This is happening regardless of whether you or I think Bitcoin has or should have any inherent value.

You can say that gold prices/fiat prices are connected to every other asset. It is economy, holistic theory of things is telling us that everything is connected.

Bitcoin may not be a wise store of wealth, but it is reaching and achieving Facebook-style dominating and recognition.

I am gonna disagree, Bitcoin is great store of value. The best in recent history. You can compare currency/economic system to software/hardware.

An even 1.0 Bitcoin to Gold Ratio was strong resistance for a long time, but now bitcoin has broken above it and the gold price may act as strong support.
Bitcoin has been acting like gold, not silver. And if bitcoin even began to move closer to the total market value of gold.

Gold prices are arbitrary, are we talking about ounces, kilograms or other standard? In the end 1 Bitcoin will be more valuable that 1 kilogram of gold.

[webtricks]

Bitcoin price is acting like it is related to the gold price. This is happening regardless of whether you or I think Bitcoin has or should have any inherent value.
Bitcoin may not be a wise store of wealth, but it is reaching and achieving Facebook-style dominating and recognition.
An even 1.0 Bitcoin to Gold Ratio was strong resistance for a long time, but now bitcoin has broken above it and the gold price may act as strong support.
Bitcoin has been acting like gold, not silver. And if bitcoin even began to move closer to the total market value of gold.

I don't feel any parity between Bitcoin and Gold. Gold is much-much stable as and when compared to Bitcoin. Even 2-3% gain/drop in case of Gold is big thing and matter of interest for business page of newspaper while Bitcoin's similar fluctuations are usual than anything.
Bitcoin has provided new dimensions to the definition of volatility.

[flower1024]

There is no way the price of bitcoin prices is linked with the price of gold. The good thing about gold is that it's been there since forever, stable and one can make very good predictions. Bitcoin and crypto generally is in it's infancy, and nobody knows for sure how big it will grow. I expect unprecedented price rises in the near future.

Yes, we can't compare these two products. Gold is accepted by all governments and institutions as the best asset to invest money during financial uncertainty. On the other had bitcoins are just started growing up and mostly popular in gambling and some grey market dealings. And in most countries, it is not accepted and regulated as well. So even though its prices are higher than gold as of now we can't compare these two products.

[ifinta]

Bitcoin price is acting like it is related to the gold price. This is happening regardless of whether you or I think Bitcoin has or should have any inherent value.
Bitcoin may not be a wise store of wealth, but it is reaching and achieving Facebook-style dominating and recognition.
An even 1.0 Bitcoin to Gold Ratio was strong resistance for a long time, but now bitcoin has broken above it and the gold price may act as strong support.
Bitcoin has been acting like gold, not silver. And if bitcoin even began to move closer to the total market value of gold.

Gold is a money of goverments and rich people. Bitcoin is the first serious money of the internet.
In the earth exists some gold. In the universe exists much more.
In the earth exists at the time 16,381,700 bitcoins. In the universe exists nothing more! Max. supply is fix: 21,000,000 and not more.
The gold has a weight. Bitcoin has no weight - you can hold it on a piece of papier.
Gold can't be transported with a speed of the light. Bitcoin can do it.
Gold is visible for everybody - if you hold/transfer it. Bitcoin can be protected through cryptography.
Gold can be seized by the court. If you are clever - your bitcoin can't be seized.