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Author Topic: Bitcoin comparison to Gold and Silver price graphs against USD  (Read 39 times)
lucymary
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January 26, 2018, 06:38:27 AM
 #1

Guys, I know that this comparison is like apples to oranges, not like for like. But looking at the 10-year price chart history of gold and silver, there was a spike in 2011 to 2013 which is much like what happened to bitcoin in 2017. I was just wondering that maybe this could happen also to bitcoin price - that it has reached it's peak in 2017 and then for the next 3 years it could rally between 10k to 20k before settling or stabilizing at $5k again for the next many years (and this maybe due to government regulations and bank suppression of prices). Do you have the same fears?  

I hope it does not happen, but the graphs trend looks similar Sad
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August 18, 2018, 05:47:24 PM
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Bitcoin $200 to $19000 can be compared to Silver $80/ounce in 1980 when Hunt brothers bought all the Silver from the market.

Now Silver is $16/ounce. Now bitcoin has been declared as a digital asset.
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August 18, 2018, 06:47:19 PM
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Bitcoin $200 to $19000 can be compared to Silver $80/ounce in 1980 when Hunt brothers bought all the Silver from the market.

Now Silver is $16/ounce. Now bitcoin has been declared as a digital asset.

Nope. Silver, gold and other materials are minable and its price could be adjusted by governments in a way or another. For bitcoin it is a fixed minable amount and you cannot pass it so the price will definitely rise when we get closer to that limit. For the next years halving will took place in ~2020 so  Wink



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August 21, 2018, 01:10:23 PM
 #4

Economist Paul Krugman says that the exploitation of Bitcoin uses a lot of electrical energy, but the largest codified currency is worth more than gold.
He said, "Gold is dead ... Bitcoin is more valuable than gold. It has more opportunities to increase value in the future.
When compared to Bitcoin's use of prepaid currencies, Krugman says the biggest problem is the transaction cost used to transfer BTCs from electronic wallets. He believed that if these costs were cut, it would probably wipe out his previous preconceptions about coding.
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