wachtwoord
Legendary
Offline
Activity: 2324
Merit: 1125
|
|
November 22, 2013, 03:40:05 PM |
|
Neither does Bitcoin. This what you seem to fail to comprehend. Good luck I've asked you repeatedly to explain but you mostly answer questions with questions. If you have a sensible argument to refute what I've said, I'll listen. As I said, you simply saying something is so, doesn't make it so. Now, do you have such an explanation? I'd love to be educated. YES I have an answer. Explain to me how you would do it with gold. Then you have you're answer because it will be done EXACTLY THE SAME. Seriously, how difficult is this?
|
|
|
|
|
|
The block chain is the main innovation of Bitcoin. It is the
first distributed timestamping system.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
Heutenamos
|
|
November 22, 2013, 03:44:28 PM |
|
Are we talking about a post-apocalyptic future, where don't expect electricity to return? I'm pretty sure everything will lose value, except food and other necessities. You mean food production capacity is best investment today ? Becase foods can will not last long.
|
yo
|
|
|
Coinseeker
|
|
November 22, 2013, 03:49:19 PM |
|
YES I have an answer. Explain to me how you would do it with gold. Then you have you're answer because it will be done EXACTLY THE SAME.
Seriously, how difficult is this?
I'll take that as a no.
|
If your ignore button isn't glowing, you're doing it wrong.
|
|
|
afbitcoins
Legendary
Offline
Activity: 2100
Merit: 1061
|
|
January 20, 2014, 11:56:10 PM |
|
Will Gold and Silver lose all its speculative value to Bitcoin.
Short answer.
No
Gold and Silver have properties that bitcoin does not. Bitcoin cannot replace gold and silver. Also bitcoin itself may fail or become centralised. The scalability of bitcoins will become a problem in the future. Gold and Silver have no such issues and are tried and tested several times throughout history being used as money.
|
|
|
|
byronbb
Legendary
Offline
Activity: 1414
Merit: 1000
HODL OR DIE
|
|
January 21, 2014, 12:03:56 AM |
|
The cool thing bitcoin has going for it is there is no premium for fractional bitcoins. A gram of gold costs you a terrible premium of like 20% over spot value. I see a market in ripple (or colored bitcoins) to digitize gold and other assets.
|
|
|
|
XxionxX
Sr. Member
Offline
Activity: 254
Merit: 250
Digital money you say?
|
|
January 21, 2014, 12:05:53 AM |
|
I think bitcoin will take gold and silver's speculative value if we start asteroid mining. I don't think PMs will ever go away before that.
|
FAP Turbo 2.0, the FOREX trading robot which also trades bitcoin! I had to link it because I love the name. Seriously, that is the real name.
|
|
|
byronbb
Legendary
Offline
Activity: 1414
Merit: 1000
HODL OR DIE
|
|
January 21, 2014, 12:26:19 AM |
|
No one is mining any asteroids any time soon.
|
|
|
|
BlackBison
|
|
January 21, 2014, 12:37:35 AM |
|
The market doesn't need to be flooded with supply for the value to fall, demand just needs to drop. And this is exactly what's been happening for the last year 500 years or so.
Fixed that for you
|
|
|
|
Anon136
Legendary
Offline
Activity: 1722
Merit: 1217
|
|
January 21, 2014, 12:42:56 AM |
|
No one is mining any asteroids any time soon. it may be easier than you think. you dont have to like get a space suit, and a rocket and start swinging a pickaxe in zero g. it would be more like: buy up a SHIT load of unused desert; find a asteroid that is passing near earth soon and then doing another pass by again in the future. send an unmaned vehicle into space. attach the vehicle to the asteroid. use a rocket to nudge it ever so slightly in the right direction early on in its course so that the tiny effect had a disproportionately large impact over its 10 + year course before it returned. then steer it over your desert and let it burn up in the admosphere over your desert. then you just use big sand harvesters like in dune to sift through the surface layer of desert.
|
Rep Thread: https://bitcointalk.org/index.php?topic=381041If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited?
|
|
|
chessnut
Legendary
Offline
Activity: 924
Merit: 1001
|
|
January 21, 2014, 12:45:43 AM |
|
Will Gold and Silver lose all its speculative value to Bitcoin.
Short answer.
No
Gold and Silver have properties that bitcoin does not. Bitcoin cannot replace gold and silver. Also bitcoin itself may fail or become centralised. The scalability of bitcoins will become a problem in the future. Gold and Silver have no such issues and are tried and tested several times throughout history being used as money.
but bitcoin plays the same role as gold only better. 99% of gold will always be locked behind vaults were its intrinsic value will be worth diddily squat. This is only for the purpose of accounting. Bitcoin is the most sophisticated accounting system in history.
|
|
|
|
Anon136
Legendary
Offline
Activity: 1722
Merit: 1217
|
|
January 21, 2014, 02:19:03 AM |
|
No one is mining any asteroids any time soon. it may be easier than you think. you dont have to like get a space suit, and a rocket and start swinging a pickaxe in zero g. it would be more like: buy up a SHIT load of unused desert; find a asteroid that is passing near earth soon and then doing another pass by again in the future. send an unmaned vehicle into space. attach the vehicle to the asteroid. use a rocket to nudge it ever so slightly in the right direction early on in its course so that the tiny effect had a disproportionately large impact over its 10 + year course before it returned. then steer it over your desert and let it burn up in the admosphere over your desert. then you just use big sand harvesters like in dune to sift through the surface layer of desert. People are already working on it but sure it's not for tomorrow http://www.planetaryresources.com/mission/no but the market is already beginning to price it in, and will continue to price it in more and more the closer people come to figuring it out. I know this for a fact because i actually sold silver to buy my bitcoins for precisely this reason. so i was actually one of the people who participated in pricing this thing into the silver market. (man what a great choice that was)
|
Rep Thread: https://bitcointalk.org/index.php?topic=381041If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited?
|
|
|
aminorex
Legendary
Offline
Activity: 1596
Merit: 1029
Sine secretum non libertas
|
|
January 21, 2014, 06:42:04 AM |
|
No one is mining any asteroids any time soon. I would be willing to bet that all of the private space companies have a plan in the works to orbit and strip one of the 40 or so asteroids estimated to have economically viable quantities of platinum group metals. I'd give it 10 years, max, before a project is launched (literally).
|
Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
|
|
|
billyjoeallen
Legendary
Offline
Activity: 1106
Merit: 1007
Hide your women
|
|
January 21, 2014, 07:00:36 AM |
|
Gold became money (the most liquid commodity) because it is: Recognizable Portable fungible divisible and... scarce.
Bitcoin is more recognizable portable fungible divisible and scarce.
This is obvious and not even controversial. Any argument to the contrary inevitably breaks down into semantics.
Bitcoin is not yet money, but it's already a very marketable commodity, and becoming more so. Gold is becoming less marketable. Good luck trading gold for a beer.
|
insert coin here: Dash XfXZL8WL18zzNhaAqWqEziX2bUvyJbrC8s
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc
|
|
|
jofus87
Member
Offline
Activity: 85
Merit: 10
|
|
January 21, 2014, 07:29:57 AM |
|
I'm putting currency into BTC, gold, and silver. What could go wrong?
|
|
|
|
aminorex
Legendary
Offline
Activity: 1596
Merit: 1029
Sine secretum non libertas
|
|
January 21, 2014, 07:56:43 AM |
|
I'm putting currency into BTC, gold, and silver. What could go wrong?
The stock market could go up, and shale oil abundance could pressure metals down, while BTC does the usual irrational dip thing before it skyrockets, and your net worth is cut in half while your brother-in-law's 401k doubles. Not likely, but it is conceivable. Or DOGE could render them all obsolete.
|
Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
|
|
|
jofus87
Member
Offline
Activity: 85
Merit: 10
|
|
January 21, 2014, 10:16:53 AM |
|
I'm putting currency into BTC, gold, and silver. What could go wrong?
The stock market could go up, and shale oil abundance could pressure metals down, while BTC does the usual irrational dip thing before it skyrockets, and your net worth is cut in half while your brother-in-law's 401k doubles. Not likely, but it is conceivable. Or DOGE could render them all obsolete. That jerk brother-in-law of mine! My opinion based off the Dow/Gold ratio is that metals are undervalued currently. Plus, QE has just been inflating the stock market bubble while further devaluing the USD. I'm liking the idea of putting those dollars into real money that holds value (relatively).
|
|
|
|
600watt
Legendary
Offline
Activity: 2338
Merit: 2106
|
|
January 21, 2014, 01:03:25 PM |
|
Gold is tangible. Bitcoin can aspire to tap into the gold market sure, but gold is still a better store of value because it requires nothing to exist. Bitcoin will always require electricity.
Tangibility is actually an undesirable property. Time will show everyone because superior currencies will win in the end. the industrial revolution changed the face of this planet, the way we live, the way we think, work, etc. the digital revolution is of the same impact. and now the digital revolution gets directly monetized. all the wealth aquired by/since the industrial revolution can go digital, and some will. cryptocurrencies are fueling the digital revolution part II. gold and silver are ok, but they are no gamechangers.
|
|
|
|
CaptainBeck
|
|
January 21, 2014, 01:05:30 PM |
|
No, just straight up no!
Gold is a physical item that the world will always trust to be there and have a price.
|
|
|
|
billyjoeallen
Legendary
Offline
Activity: 1106
Merit: 1007
Hide your women
|
|
January 21, 2014, 01:19:36 PM |
|
No, just straight up no!
Gold is a physical item that the world will always trust to be there and have a price.
Yeah well aluminum will always be there and have a price too. Geologists say there is enough gold in the earth's crust and mantle to cover the surface of the planet eight feet deep. No asteroid mining required. Gold just isn't portable enough to be used in the digital age without counterparty risk. You can't email it. You can't text it. You can fill it with tungsten. You can triple count it in vaults, plate lead bars with it, or just leave it in the ground until it's profitable to pull it out.
|
insert coin here: Dash XfXZL8WL18zzNhaAqWqEziX2bUvyJbrC8s
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc
|
|
|
CaptainBeck
|
|
January 21, 2014, 01:45:30 PM |
|
Its pretty hard to steal and lose gold. It doesnt require internet connect and a world wide network of computers. Gold has real life uses.
|
|
|
|
|