Bitcoin Forum
November 22, 2017, 10:48:08 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Price of gold crashes to nothing  (Read 1149 times)
shady financier
Member
**
Offline Offline

Activity: 84


etcetera


View Profile
June 23, 2011, 10:21:12 AM
 #1

Some-random-supernova ltd, (the manufacturer of gold) to be hauled before the courts. Investors wait to see if shinny lumps of yellow metal will be worth anything.


1G8AUgSTAw8hfatNnDHuYEqBAUzC3qvAAL

Bitcoin news: http://thebitcoinsun.com/

Rapidlybuybitcoin here.

The value of goods, expressed in money, is called “price”, while the value of money, expressed in goods, is called “value”. C. Quigley
1511347688
Hero Member
*
Offline Offline

Posts: 1511347688

View Profile Personal Message (Offline)

Ignore
1511347688
Reply with quote  #2

1511347688
Report to moderator
1511347688
Hero Member
*
Offline Offline

Posts: 1511347688

View Profile Personal Message (Offline)

Ignore
1511347688
Reply with quote  #2

1511347688
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511347688
Hero Member
*
Offline Offline

Posts: 1511347688

View Profile Personal Message (Offline)

Ignore
1511347688
Reply with quote  #2

1511347688
Report to moderator
shady financier
Member
**
Offline Offline

Activity: 84


etcetera


View Profile
June 23, 2011, 10:29:43 AM
 #2

Ok fine, it's not the same. The bitcoin network does not match the vast magnificent power of the natural phenomena from which gold and other metals are created. Nonetheless I stand by the illogic in the comparison. The price of bitcoin flash-crashing on an exchange does not mean bitcoin is now valueless any more than gold would become valueless if a major gold exchange got robbed (or any commodity for that matter). Can the media please stop attempting to give that impression. Bitcoin holders are not now holding their breath because of the misfortunes of MtGox "to see if their bitcoins are now worth less than the cost of the usb on which they are held" or whatever.

thank you, that is all.

1G8AUgSTAw8hfatNnDHuYEqBAUzC3qvAAL

Bitcoin news: http://thebitcoinsun.com/

Rapidlybuybitcoin here.

The value of goods, expressed in money, is called “price”, while the value of money, expressed in goods, is called “value”. C. Quigley
Archatos
Newbie
*
Offline Offline

Activity: 12


View Profile
June 23, 2011, 10:36:45 AM
 #3

If there was a robbery, no.

However, if someone suddenly flooded the market selling their gold reserves, the price would take a drastic hit.
Oldminer
Legendary
*
Offline Offline

Activity: 1022



View Profile
June 23, 2011, 11:07:20 AM
 #4

mmmmm......passionfruit....

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!