Bitcoin and Gold - origins of value

[jostorres]

Transmitting wealth without boundaries and splitting currencies into 100 000 000 smaller pieces is just too attractive to miss out on. Who will not want to be part of a currency with no central authority? A currency that disrupts multi billion dollar companies? A currency with multiple use cases, like Smart contracts.

Bitcoin has broken the mold and no other currency can keep up with it. The financial world has changed and Bitcoin started it all. ^smile^

Yes, bitcoin has completely changed the map of financial world and it has removed all boundaries. Indeed, people are highly enchanted towards bitcoins because of their decentralized nature. People are damn sick of getting controlled by corrupt politicians and paying taxes for wars. Bitcoins are a relief for all of us.

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[bitcoinmaniac52]

Bitcoin does online what gold does offline. It really is that simple when it all comes down to it.

[Nerman]

Had a thought today while running...

There has been much discussion over the value of a Bitcoin when one removes its use as a money. There are issues with the regression theorem, etc.

Gold clearly has value beyond its use as money. Primarily, it looks pretty and is thus perpetually desired for ornamentation. There are other uses, but this is where gold originally got its value - from its pretty shine. Observers of gold are fascinated by it - attracted to it due to its properties.

Well... is this not also true with Bitcoin? When Bitcoin was first discovered and released, was it not initially desired for its curious nature? Were initial adopters not attracted to it due to its strange properties, much like ancient man was attracted to gold? Of course, it's the geeky crypto people who were initially attracted, but I think it's a fair point that they picked up these early bitcoins purely because "they were cool to look at and hold" - albeit on a digital drive.

Even for those like me who don't fully understand the cryptography, Bitcoins are damn cool. They are intrinsically interesting and attractive. Gold is also intrinsically interesting and attractive. Both commodities attract the observer, and their monetary usage subsequently sprang forth in like manner because both commodities possess those properties which make them great forms of money (scarcity, divisibility, authenticity, etc.). Does this not satisfy the regression theorem?

I agree with this 100% a value of anything will only depend on how many people are actually interested and attracted on it. As of the moment even though the price is around $3800 -$4000 there are still millions of people who don't know what Bitcoin is and also millions are still not invested on it. Once more people will invest in cryptocurrency i assure you the price will be 10x more the current price.

[Rajamuda]

The origin of bitcoin values is created by the growing technological development that is on the internet, the price grows from the development of bitcoin itself over time and everything that influences it. As for gold, we know the value of gold developed does not use technological developments such as the internet, gold is born from this natural wealth, the value of gold is influenced by the law of supply and demand is still unstable as like as bitcoin.

[BlueStackz]

Bitcoin does online what gold does offline. It really is that simple when it all comes down to it.

I think there is little bit difference. Gold is gold and bitcoin has no physical existence. Most of the people in the present do not believe in bitcoin. It is just a virtual currency. I think it will take a long time to hold all the markets in the world.

While just overcome gold will be I think not possible for bitcoin because the original money in this world is only gold and nothing else. Time will show what bitcoin can do for us.

[Shenzou]

Bitcoin does online what gold does offline. It really is that simple when it all comes down to it.

I think there is little bit difference. Gold is gold and bitcoin has no physical existence. Most of the people in the present do not believe in bitcoin. It is just a virtual currency. I think it will take a long time to hold all the markets in the world.

While just overcome gold will be I think not possible for bitcoin because the original money in this world is only gold and nothing else. Time will show what bitcoin can do for us.

I think that the gold and bitcoin are both very similiar, think about it centuries ago poeple used to mine gold and use it as a global currercy until poeple switched to currencies because gold became harder to find and this lead to those who own it save it and others spending times trying to find it, and bitcoin as weell started as an idea to replace the way we use real money on the internet but with it bieng limited its price began to fork and so did people started saving it, the way i see it is bitcoin is the  21 century gold, and probably the next gen will find a replacment for it, so did we find a replacemnet for gold.

[krogothmanhattan]

Only 21 million bitcoins to ever be mined.....many lost so that lowers the total amount that will ever be in circulation 

 Gold still being dug out there on a daily basis..who knows how many more tons to be discovered.

[Mr. Legendaris]

I think bitcoin investment is more profitable and valuable than anything including, after today the price reaches $ 5800 then tomorrow or Monday the price will reach $ 7000.

[pereira4]

Funny to see this guy now working for the banks and performing a 51% attack on bitcoin trying to push the segwit2x code with bribed miners and merchants. OP is the CEO of Shapeshift in case you missed it, and he supports segwit2x. A reminder to not use Shapeshift ever again.

[Jovovich]

I think bitcoin investment is more profitable and valuable than anything including, after today the price reaches $ 5800 then tomorrow or Monday the price will reach $ 7000.

And as long as you are knowledgeable in trading then its fine to be with the forum. A lot of price predicting are now being created in a thread but i suppose they can be achieved because their will are some upcoming events for new innovation of bitcoin technology.

[Smarty14392]

Only 21 million bitcoins to ever be mined.....many lost so that lowers the total amount that will ever be in circulation 

 Gold still being dug out there on a daily basis..who knows how many more tons to be discovered.

Well my friend, you have nicely explained why bitcoin is better than gold. Yes the most important factor that makes bitcoin a better selection is the limited supply of bitcoin whereas the gold is in countless tons available which does not allow gold prices to fluctuate much. Gold has become the traditional way of saving money and making profit.

It does not meet the demands of current era. Everything is so fats at present and so should be the method of making profit.

[zeaderza]

Only 21 million bitcoins to ever be mined.....many lost so that lowers the total amount that will ever be in circulation 

 Gold still being dug out there on a daily basis..who knows how many more tons to be discovered.

Tones and millions are just the no the main thing is popularity and bitcoin has beat gold in this aspect in past people buy gold when it is at low prices and then sell at high prices to earn profit but everything is changed now bitcoin replaces gold and now everyone is using bitcoin for this purpose and lot more one day bitcoin will take over the currency of the world.

[ReLieD]

Even though Bitcoin is on the headlines it doesn't mean that it will be used as a mean to compare means . Well , I use Bitcoin just to see the rates of other Cryotocurrencies and then compare it with Bitcoin just to make few predictions and assumptions.

[Monnt]

Funny to see this guy now working for the banks and performing a 51% attack on bitcoin trying to push the segwit2x code with bribed miners and merchants. OP is the CEO of Shapeshift in case you missed it, and he supports segwit2x. A reminder to not use Shapeshift ever again.

It is really funny. You are not going to be the first person I will get this news from and I was really puzzled on how those who started with the community and totally understood the concept right from the onset could get so greedy after all, and decided to usher in a centralized currency. That really sucks! Well, that is how life is anyway, but I am sure they will understand eventually that the community cannot be compromised as well as the dream. Shapeshift now in my blacklist forever.