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Author Topic: Bitcoin vs. Gold Prices  (Read 1828 times)
BobK71
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May 12, 2018, 02:49:40 PM
 #421

We see a pattern.  Gold basically holds flat most of the time, except for step-wise movements up ($35 to $300 to $1000.)  But each step up, or devaluation of the dollar, is accompanied by a big overshoot, followed by a big drop.  This overshoot-and-drop pattern also seems to hold with Bitcoin (and even more so with altcoins.)

Over the decades, we can formulate a theory *based on these numbers alone* that the dollar is essentially continuously devalued against gold, when the noise is taken out.   (And I won't explicitly speculate as to why the noise is there!)

This is not the case as I have already explained before. The rapid surge of gold prices (in terms of over the decades) is not actual dollar devaluation, depreciation, hyperinflation, and whatnot. It is an expectation of future events probably unfolding in that direction. So far these expectations didn't come true, and that accounts for the subsequent massive retreats of gold prices.

'Massives retreats' notwithstanding, the overall pattern from 1913 (the Federal Reserve's founding) to today is that the stable-over-long-period dollar price of gold went from $22, to $35, to around $300, to around $1000.  Call it whatever you like, we have never left the gold standard de facto, because we can't, and we have been continuously devaluing the dollar against gold to keep the system stable.

From $22 to $1000, the dollar lost 98% of its value against gold.  I'll let that speak for itself.
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May 12, 2018, 03:07:07 PM
 #422

I am a bit confused about the whole idea. Why would bitcoin be a part of the monetary engineering thing for any of these countries when it was not even made or invented to do this tasks? Is this just an analysis of yours trying to connect things or you do really have proofs for that statement. Or is this just all coincidence. This is not even under the government control so how can one country benefit from it?

That is totally understandable.  A country's government can benefit from Bitcoin by holding a lot of it and using its holdings to ensure its own currency doesn't drop too much in value against Bitcoin.  (This is assuming Bitcoin has gained widespread trust as a good store of value.)

This could hypothetically work out for smaller countries or countries in a dire economic situation such as Venezuela, Zimbabwe and other countries where local monetary systems have already failed (Zimbabwe) or are in the process of failing (Venezuela). Bigger and more powerful countries don't need that since they have enough power and economic as well as administrative muscle to force the use of a national currency onto the masses as long as they themselves pursue sane economic and monetary policies with inflation rates bridled.

State issued currency is being inflated all the time, because of the incentives for the elites to issue more money and debt.  From the elites' point of view, it's better to have a non-state money be the support for their issued money, in this way.  This is the entire reason for having hundreds of years of modern history under gold or silver standards.  (A stable gold/silver standard was the 'best' environment for the elites to skim off the cream of the economy by issuing money and debt.)

This is not the real reason behind gold and silver being used as money back in the day. The true reason is that states were weak then, rulers were often overthrown as a result of warfare or intrigue, and thus nobody would use paper money when it was guaranteed to lose all purchasing power in a couple of years, not even the kings themselves. Paper money, and especially paper money not backed up by anything (aka fiat) is an attribute of a powerful state.

You are joking, right Smiley  Gold/silver backed currency was the backbone of the British Empire and the Dutch Empire before it. It was also the case for the US until 1971.  Were these 'weak states' which were apt to fall in 'a couple of years?'

You seem to be overwhelmed (bordering on obsessed) with conspiracy theories.

The proof of the correctness of any idea must be by argument, not by labeling them as conspiracy theories or truths.  I only have to tell you that mainstream economists were totally in favor of the gold standard when the elites had enough gold, but are totally against the gold standard since all countries defaulted on gold (ie after 1971.)  With this alone, can you tell me there is no deception in either the system or the opinion of economists?

The problem with you is that you use your better knowledge in economics to overpower the average user, to push your elite-friendly agenda.  But you don't really understand money (and you still haven't responded to my point that deflationary pain, for which mainstream economists like to blame gold and the future use of Bitcoin, is only caused by elite-driven asset inflation and economic distortion in the first place.)  This lack of understanding is shown clearly by comments like the above, about the gold/silver standards.

But very few people really understand money (and I mean in practice, as opposed to what it 'should' be in theory.)  So you're far from being alone.
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May 13, 2018, 02:09:07 AM
 #423

It seems to me that if bitcoin is used for debt forgiveness it can do only Americans. I doubt that they will ever be able to give 20 trillion of its foreign debt. But for this they need a capitalization of bitcoin is still very much to increase. We have time to get rich. After the capitalization of bitcoin will reach the debt America I will sell your coins.
For me I dont know the Gold price but for for bitcoin price I'm surely that I will know it.I'm here not only for having a price of bitcoin but to know more about dealing crypto currency.

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May 13, 2018, 03:25:53 AM
 #424

If comparing the price of bitcoin and gold then like comparing the river water with sea water, everything is very different, bitcoin can rise and fall hundreds or even thousands of percent per year while gold is very stable and never fluctuate.

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May 13, 2018, 03:57:33 AM
 #425

If comparing the price of bitcoin and gold then like comparing the river water with sea water, everything is very different, bitcoin can rise and fall hundreds or even thousands of percent per year while gold is very stable and never fluctuate.

I found true situation with your quote. It is really different that gold price may the same compared to bitcoin price. Because gold price may not fluctuates everyday but bitcoin may too. In regards to investment gold profits is stable always but bitcoin investment are very volatile and unpredictable but the great chances of earning a lot of profit is with bitcoin because it always doubled the price of gold when good market correction comes out.

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May 13, 2018, 06:05:04 AM
 #426

Bitcoin price movement is more significant than the price of gold which is an investment commodity that has existed since long. But in this increasingly modern era investors are turning to bitcoin where these commodities are based on blockchain technology and gold is now beginning to be abandoned by some investors.

I like Gold better than bitcoin, because of bitcoins volatility, it makes it harder to purchase and it needs time to increase its value. But otherwise it is also the thing I like in bitcoin, it has a low point and a peak value, I can invest on it on the time of its lowest point and earn in its highest peak.

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May 13, 2018, 06:07:48 AM
 #427

Bitcoin is the clear winner.Gold prices are very stable and does not yield that much of profit.The users of gold receive very less or nil in terms of profits.Bitcoin's value is  very volatile and this is the main reason for the huge profit margin it gives.Bitcoin is a money earning opportunity for all of us.


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May 13, 2018, 06:35:18 AM
 #428

Bitcoin always wins the race, around an year the speculation around the cryptocurrency network was completely related to gold price to the bitcoin price. Later in unexpected time span bitcoin overtook the value of gold. This growth continued for a longer time period making bitcoin the best.

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May 13, 2018, 06:43:49 AM
 #429

In comparing with gold price in most countries, gold price is more or less stable, at the same time bitcoin prices are insane

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