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FrankNoland
Copper Member
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Activity: 560
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July 04, 2017, 01:26:53 PM |
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Yeah, Bitcoin value is twice the value gold ounce, so investing in bitcoin might be a better idea after all
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Digital asset exchange for settlement, clearing, custody and trading of various digital assets, utilizing distributed ledger technologies, programmed on the blockchain -https://bex.global
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VC George
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Carpe noctem
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July 05, 2017, 09:26:50 PM |
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That won't happen until 1BTC equals 1kg or at least one pound of Gold. One Oz is not that much money after all (2500$ is a month's wage in the Western Hemisphere).
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amaral1977
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July 05, 2017, 10:11:18 PM |
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While i understand the excitement. As 1 BTC is reference and 1 OZ is reference. I find it difficult to compare gold to BTC. A metal to a digital asset. the similarities i see is that both are good stores of value.
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CuriousGeorge
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KUWA.ai
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July 05, 2017, 10:41:42 PM |
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That won't happen until 1BTC equals 1kg or at least one pound of Gold. One Oz is not that much money after all (2500$ is a month's wage in the Western Hemisphere).
1 bitcoin = 1 kg worth of gold will never to be real, It means the bitcoin must be worthed over ten thousand dollars. OP, Bitcoin is not flipping the gold. My thought if the bitcoin is different with the gold itself. The value of the gold depends on the how many weight of the gold itself. And bitcoin is not. |
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cellard
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July 05, 2017, 11:08:31 PM |
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The next level of flippening is to get the marketcap of gold, once we hit 8+ trillion dollars for marketcap and pass gold it's when we all get rich and the domino effect will kick in where gold holders will start buying more bitcoin, and soon we go to 10+ trillion dollars. Once we pass gold we are the kings of the world.
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pooya87
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July 06, 2017, 03:34:49 AM |
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the word "flipenning" is used as meaning of "replacing" not price going higher. and it is the nonsense used by the ethereum shills wanting to pump their coin.
and while bitcoin price is going up and it has attracted a lot of attention from everyone and many gold investors are now also bitcoin investors but bitcoin is not "replacing" gold.
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aTriz
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July 06, 2017, 03:46:25 AM |
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Price doesn't matter at all in this case when comparing bitcoin to gold.
Obviously, gold has more recognition and international acclamation than bitcoin, right? Yes, bitcoin has risen more than gold. Yes, 1 bitcoin is now worth more than 1 troy ounce of gold. But 1 troy ounce of gold is just an arbitrary figure that people put on gold to make it easy for them to measure how much gold is there.
A more accurate measurement is market captilization, in which bitcoin is obviously still far far behind. Gold is estimated to have a market cap of a few trillion US dollars, whilst bitcoin has only 40 billion right now.
Plus, this isn't even news. This happened like in March/april.
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mrfreezeh
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July 06, 2017, 04:38:31 AM |
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That won't happen until 1BTC equals 1kg or at least one pound of Gold. One Oz is not that much money after all (2500$ is a month's wage in the Western Hemisphere).
1 bitcoin = 1 kg worth of gold will never to be real, It means the bitcoin must be worthed over ten thousand dollars. OP, Bitcoin is not flipping the gold. My thought if the bitcoin is different with the gold itself. The value of the gold depends on the how many weight of the gold itself. And bitcoin is not. Gold is a precious metals and not just for people want buy for holding or invest. Can make jewelry and Is a jewel of luxury, unlike Bitcoin, just is considered as a mere value. |
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L00n3y
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July 06, 2017, 04:53:02 AM |
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Yeah, Bitcoin value is twice the value gold ounce, so investing in bitcoin might be a better idea after all
Gold always have what we call material value. They praised golds value not because it might be the next reserve but the very definition of its build itself. Considered as one of the finest materials known to human, it became one of the worlds reserve. When the computer technology is introduced, digital technology made its name Bitcoin have successfully surpassed golds price in terms of 1 BTC = 1 onze of gold. Even if im into bitcoin when I have a lot of money I would still buy gold. Bitcoin might be more valuable than gold but in terms of material value, for me golds hands down. |
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SilverPunk
Sr. Member
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The Blockchain Evolution of Prediction Markets
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July 06, 2017, 05:00:50 AM |
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That won't happen until 1BTC equals 1kg or at least one pound of Gold. One Oz is not that much money after all (2500$ is a month's wage in the Western Hemisphere).
1 bitcoin = 1 kg worth of gold will never to be real, It means the bitcoin must be worthed over ten thousand dollars. OP, Bitcoin is not flipping the gold. My thought if the bitcoin is different with the gold itself. The value of the gold depends on the how many weight of the gold itself. And bitcoin is not. I agree nice analytic and i will add that bitcoin is too different investment in gold they have both good price but one exist in online and one is a physical materials. I weight comparison we cant but in 1oz. of gold in equivalent of $ and 1 bitcoin will be the base .Bitcoins have a big price through a years past than gold. |
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Nodari_Cindicator
Full Member
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Merit: 100
Cindicator Bounty Manager
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July 06, 2017, 05:06:44 AM |
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Bitcoin is not flipping the gold but Bitcoin have good chances because it is just more transportable than gold  |
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pinkflower
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July 06, 2017, 07:34:52 AM |
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BTC flippening gold doesnt really mean anything. Markets always go up and down and gold will find its luster back again as soon as theres bearish sentiment in the traditional markets around the world. Gold has always been one of the safest investments for thousands of years. That wont change flippening or no flippening.
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hase0278
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July 06, 2017, 08:12:16 AM |
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We can say that for now bitcoin has more value than 1 OZ of gold but I would like to see bitcoin having value more than 10 grams of gold at the very least and has to stay at that price for months for me to call it as bitcoin flippening gold. Like what the post above mine said, it doesn't really mean anything and it will not effect the future price movements of bitcoin. |
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Amph
Legendary
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Merit: 1069
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July 06, 2017, 08:52:10 AM |
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That won't happen until 1BTC equals 1kg or at least one pound of Gold. One Oz is not that much money after all (2500$ is a month's wage in the Western Hemisphere).
1 bitcoin = 1 kg worth of gold will never to be real, It means the bitcoin must be worthed over ten thousand dollars. OP, Bitcoin is not flipping the gold. My thought if the bitcoin is different with the gold itself. The value of the gold depends on the how many weight of the gold itself. And bitcoin is not. well it's not that unfeasible to have bitcoin worth $10k or more, will happen eventually in the near future bitcoin is more rare than gold, and therefore the chance to have it with a better value is high also gold will never grow more than that, gold is there in its stagnantion since ages... |
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roadbits
Legendary
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Activity: 1092
Merit: 1000
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July 06, 2017, 08:57:26 AM |
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BTC flippening gold doesnt really mean anything. Markets always go up and down and gold will find its luster back again as soon as theres bearish sentiment in the traditional markets around the world. Gold has always been one of the safest investments for thousands of years. That wont change flippening or no flippening.
You are right no coins will replace gold. It is a universal asset. And where you go in this world it has value. And all over the world, it has investors. You are right this is the safest investment for thousands of years. Bitcoin is now entering the market, and it is gaining more investors but it won't flippening gold. |
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Sled
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July 06, 2017, 09:23:57 AM |
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Even in the past few months, bitcoin already surpassed the price of gold based on the market price because bitcoin is a complete package for me because it is a currency and also a good investment for long term at the same time. Bitcoin is like the gold but it is the advanced version of gold and that is why people are moving from gold into bitcoin because of the complete features that they can get.
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jorneyflair
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July 06, 2017, 10:27:24 AM |
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How is this even news now? I remember it has basically been like this since the end of April, loll. Anyways, it's all psychology. Bitcoin is still a long way behind in terms of trust in the currency and stability. As we all know bitcoin market capitalization is many times smaller than gold's, and there are definitely a lot more people using gold as a store of value than there are people using bitcoin for the same purpose. So instead of comparing prices of each bitcoin and each ounce of gold, we as a community should focus on getting more people to adopt bitcoin and get to know what it is instead. Price rises are good for investors but don't benefit regular users that much. |
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Seansky
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July 06, 2017, 01:12:42 PM |
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I guess this was old news because a bitcoin values more than gold for months already and it really has not affected bitcoin price at all for the past few weeks. After all, bitcoin sitting at the price ranges that we see now might not last longer and we might see history repeating itself. For now I'm glad that bitcoin price is this high. |
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andrei56
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July 06, 2017, 06:16:42 PM |
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While what you are saying it is correct, it does not tell the whole story, look at the market cap of gold and the market cap of bitcoin and see the difference, bitcoin has a long way to go before even getting close to the market cap of gold, so as you see things can be seen from different angles in any situation. |
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