Bitcoin acting like proxy for Gold ?

[PancherBitCoin]

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.

Your arguments are very tangible, but I would like to get an answer to the question, What to do when at some point there will be no electricity or the Internet. The world has become so dangerous that every day you can expect some kind of cataclysms or even a warrior. And then what to do when high technologies can come to an end.

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[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.

Your arguments are very tangible, but I would like to get an answer to the question, What to do when at some point there will be no electricity or the Internet. The world has become so dangerous that every day you can expect some kind of cataclysms or even a warrior. And then what to do when high technologies can come to an end.

Bitcoin is money for Internet. Internet was planned to survive a war or a cataclysm. I know - some resource, i.e. bitcoin will went lost in such situation. But the remaining supply will be working. What should I tell more?

At this time exists some war in our earth. If somebody want survive there - it is easier escape with a piece of papier or with an usb stick or a mobile. As refugee it is not possible to rescue 1-2 kg gold and your life also. Later - in an other country maybe, i.e. in europe - it is possible to pay with bitcoin. Buy a house, and other things.

But if our civilisation ends - no more need for gold, silver, other money, electricity or internet also - I think.

[mrcash02]

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.

Your arguments are very tangible, but I would like to get an answer to the question, What to do when at some point there will be no electricity or the Internet. The world has become so dangerous that every day you can expect some kind of cataclysms or even a warrior. And then what to do when high technologies can come to an end.

Bitcoin is money for Internet. Internet was planned to survive a war or a cataclysm. I know - some resource, i.e. bitcoin will went lost in such situation. But the remaining supply will be working. What should I tell more?

At this time exists some war in our earth. If somebody want survive there - it is easier escape with a piece of papier or with an usb stick or a mobile. As refugee it is not possible to rescue 1-2 kg gold and your life also. Later - in an other country maybe, i.e. in europe - it is possible to pay with bitcoin. Buy a house, and other things.

But if our civilisation ends - no more need for gold, silver, other money, electricity or internet also - I think.

Thinking in a war like this, in the end money will be worthless, the same applies for Bitcoin, even with internet access. People will focus in primarily items for basic surviving, like food, water, clothes... And they will trade this kind of item among themselves, nobody will want Bitcoins, gold, wealth items that only deserve to show power to others.

Bitcoin, gold or any other kind of currency, asset is only useful if there is organized society, without it, everything is worthless.

[Yuuto]

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.

It's not. There isn't an explanation for why bitcoin price went from the same as gold to double gold and now more than double. If you call that a correlation then i think i can see correlation between the price of oil and bitcoin as well lol.

And bitcoin is a store of value - in the long run there will only be this much bitcoin produced. You cannot mint bitcoin out of nothing like governments do with fiats. Thats what makes bitcoin special, its decentralization and it has a limit on the amount of coins ever existing.

[DrGuns4Hands]

Accurate! Bitcoin is a proxy to a gold. If you have more account? The more earning you have. It's just a matter of waiting. Waiting because you have to wait bitcoin with there correction or it's low key for you to purchased more and not thinking how you would earn money when your at home.

[xypos]

To have a correlation with another asset bitcoin has to be used to actually buy the asset. However I think that it's not that. Nobody actually buys gold with bitcoins or vice versa. Either that it's just a coincidence, or this is just false(i don't see anything that represents a completely 100% correlation between gold and bitcoin anyways).

The currency that bitcoin has a definite correlation is altcoins. This is because bitcoin acts as a gateway for people to buy into altcoins. To get into altcoins you must buy into bitcoin first. So either altcoins will have a positive or negative correlation with btc.

[appon12]

Like bitcoin dream we got bitcoin acting in the  middle of gold.

[CyberKuro]

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 really like the analogy like proxy of gold, yes bitcoin has higher value even more expensive than gold per ounce.
People could store value into both of it but most people think bitcoin is more profitable but risky and gold seems steady and stable.
In some cases, bitcoin has some advantages than gold, so yes it is like proxy  for gold. But in some countries, you can't really hand over gold to someone who pay it with bitcoin due to there are some documents about it.

[Turkiwi]

BTC and gold are actually a good combination.. BTC is very volatile and gold is relatively stable. So you can have high returns while being hedged by gold, which will increase as well in case the economy goes down, in that case from the other hand, it's more likely that BTC will increase in value as well - so a better combination would be maybe equity / stocks or crypto's / equity

[skyline247]

Bitcoin is called the gold of the internet. There is the physical gold of the real world (of course) and virtual gold online, aka Bitcoin.

[Proton2233]

Bitcoin is called the gold of the internet. There is the physical gold of the real world (of course) and virtual gold online, aka Bitcoin.

When you compare gold with bitcoin is wrong. Yes, bitcoin is now more profitable than any other investment but for how long this will continue nobody knows. Gold has a physical form and therefore will always be more protected from collapse. The value of bitcoin in the hopes. If these expectations are not met, all users will lose their money without any hope of compensation.

[konco_kenthel]

after this information I think many bitcoiner happy and breathe because they are no longer so dizzy every time they want to buy the same btc or gold has a high selling value. So the point can be a great opportunity in searching for more profits if you can hoard them together in a short amount of time.

[MMysterious]

I can't say Bitcoin is acting like proxy for Gold because gold is in a physical form therefore the value of Gold and Bitcoin is beyond incomparable. Sure I do like Bitcoin because of how much it's value cost and how it had progressed over how many years but let's face the fact that we all don't know until when Bitcoin will be here. While Gold has been here for over how many centuries already and it's value is also progressing over the years that's why some also buys gold for investment because it's price or value is not depreciating.

[sukamasoto]

When I saw bitcoin in first glance, I'm still interest on gold as my main investation
And for somehow and after some time, I find that bitcoin have a potential for a better investment compare than gold and voilaaa .. it's proven now that bitcoin value has increased significantly over 7 years , up to 400% !!

[kimochidesh]

Bitcoin is acting proxy to Gold in term of international transaction. It is acting alternative to an economy driven by fiat currencies. But gold is not feasible for a transaction, so bitcoin serves to be the best alternative to it. On the other hand, increasing value of BITCOIN makes it as an investment tool also.