Erdogan
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August 14, 2015, 06:28:16 PM |
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Alright then I was a bit wrong, so that gives intrinsic value to gold, splendid.
However I still disagree with the gold price. If that is all what gives value to gold, then perhaps gold should be = to silver.
Remember that the mining scheme of BTC is economically modeled, in a way, after gold mining and commodity production costs as fair value. Satoshi said: " The price of any commodity tends to gravitate toward the production cost. If the price is below cost, then production slows down. If the price is above cost, profit can be made by generating and selling more. At the same time, the increased production would increase the difficulty, pushing the cost of generating towards the price. In later years, when new coin generation is a small percentage of the existing supply, market price will dictate the cost of production more than the other way around." BTC and Gold, in a way, are similar due to the energy-value-backing used to mine them. But he was wrong. It is the production cost that gravitates towards price. The value consumers allocate through the market, based on everything in the individuals' minds. |
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AlexGR
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August 14, 2015, 07:29:45 PM |
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Yea but why would you buy gold if bitcoin is a better alternative. Sure there could be some rich guys in India that dont know or dont trust bitcoin yet, but once they begin to trust bitcoin more, i`m sure bitcoin will prevail.
Not really. You have to see this: https://www.youtube.com/watch?v=sUr2E4dfs0Y to understand the culture, how they buy gold and not intend to sell it, how they see the ever-increasing price of gold, how even the poorest of the poor go out to buy 1g gold bars etc, how they dump fiat to buy gold and do not even consider that they have "spent" money because gold IS money for them, etc etc. Bitcoin is not a real rival to gold in cultures like these (which, incidentally, has a population that EU+N.America can't match). Bitcoin is more like a facilitator of online transactions and something that gives you access to p2p banking services, without banks. If it can also be a great store of value, or even give multiple % gains, that's great. Gold is your "savings" while bitcoin is more like your online banking. Since gold cant be used as a currency, i already told you that the only thing you can do is to BUY LOW & SELL HIGH (OR BUY HIGH & SELL LOW if you get suckered into the ride)
It is already used as a currency but we don't think in that way. Citizens of india often think prices or salaries in terms of gold weight, which we don't. The fiat they get is just the vehicle to acquire more gold. And they don't even plan on selling, because they know that gold (as measured in terms of their national currency and always in the long-term) is always going up, so why sell? What we as westerners consider a given, isn't really a given for the rest of the planet, and to populations outnumbering us, and populations that have a large effect on the gold market (India and China imports are something like 2000 tons per year, when global production is like 2500 tons). Here we see a gold/silver stacker and we are like "huh?". There it's much different as to the reasons why they are buying, how they are selling and if they are selling, how they view gold in their societies etc etc. We can't really get a proper sense of the gold market if we project our own rationale into the global population, without that rationale actually being true for all. I tend to view money in two forms: Sound money and scam money. Precious metals and bitcoin would definitely go in the sound money category (with the current parameters being intact - that is if a btc flaw isn't discovered tomorrow that renders it useless), while fiat goes in the scam category because it's just cotton and paper that they are printing "value" on it. They can print as much as they like - making "wealth" appear out of nowhere. In that sense, gold and btc are complimentary and not pitted against one another. Many western gold bugs or silver bugs (which are in essence fiat bugs that have a rationale of buying low / selling high, to maximize their fiat holdings, and not the india-attitude of HODLing forever) hate btc for reasons like "if you don't have it in your hand, it's vapor", or believing there is fiat dilution in BTC that should be going only to PMs and raising PM prices, but there is an increasing number of them that realize btc can indeed be a profit hedge. If gold/silver price is manipulated and the gains aren't forthcoming, why not hedge with a little crypto that can give explosive gains? Even some shit-hit-the-fan preppers have started to realize that btc is useful for online or global transactions when the banks fail them or prevent access to banking services, while gold/silver exchange is for a more local scenario. Eventually the role of btc will be seen for what it is and not draw the same amount of hostility from both PM crowd and fiat crowd. But he was wrong. It is the production cost that gravitates towards price. The value consumers allocate through the market, based on everything in the individuals' minds.
His observation isn't inaccurate per se although what causes what can be debatable in some cases. |
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fullypak
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August 15, 2015, 01:06:18 AM |
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If I got more money to invest then I will buy first gold than bitcoin reason is simple more stable and safe investment.
yes this is correct way if somebody's going to invest in gold rather than bitcoin , gold also have some other advantages like in case if you need money but don't want to lose your gold, you could put it in a pawnshop and later pay the interest after you have money Yes surely for long term investment definitely I will not suggest bitcoins because so for in the world no country is considered as a official currency hence the future of bitcoin is completely unknown. Every one is just hoping that in future most of the businesses will accept bitcoins and it will grow faster but all these are just a hopes so do not put your long term investments on hopes. So gold is the best option for long term investment compared to bitcoins. Gold also is a limited so sure it will grow over the years and just forget all these short term price movements. |
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umair01
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August 15, 2015, 04:58:11 AM |
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If I got more money to invest then I will buy first gold than bitcoin reason is simple more stable and safe investment.
yes this is correct way if somebody's going to invest in gold rather than bitcoin , gold also have some other advantages like in case if you need money but don't want to lose your gold, you could put it in a pawnshop and later pay the interest after you have money Yes surely for long term investment definitely I will not suggest bitcoins because so for in the world no country is considered as a official currency hence the future of bitcoin is completely unknown. Every one is just hoping that in future most of the businesses will accept bitcoins and it will grow faster but all these are just a hopes so do not put your long term investments on hopes. So gold is the best option for long term investment compared to bitcoins. Gold also is a limited so sure it will grow over the years and just forget all these short term price movements. yes you have a point here but it's really hard to completely rule one another out against each other , there is already some restaurant,pharmacy and small hospital (forgot where was it) that accept bitcoin but its hard to find similar situation in which you can say I will pay with the gold I have for their services |
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XY_Z
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August 15, 2015, 05:01:03 AM |
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I have considered both, but I see more future in Bitcoin than in Gold. We're in the computer age now, and it will be like this for a very long time.
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Andy4.4
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August 15, 2015, 05:24:28 AM |
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First I prefer Bitcoin and by trading I will earn money and store it in the form of gold.
Both of these assets have a good market and according to me, it will never end.
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deisik
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English ⬄ Russian Translation Services
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August 15, 2015, 07:49:48 AM |
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Alright then I was a bit wrong, so that gives intrinsic value to gold, splendid.
However I still disagree with the gold price. If that is all what gives value to gold, then perhaps gold should be = to silver.
Remember that the mining scheme of BTC is economically modeled, in a way, after gold mining and commodity production costs as fair value. Satoshi said: " The price of any commodity tends to gravitate toward the production cost. If the price is below cost, then production slows down. If the price is above cost, profit can be made by generating and selling more. At the same time, the increased production would increase the difficulty, pushing the cost of generating towards the price. In later years, when new coin generation is a small percentage of the existing supply, market price will dictate the cost of production more than the other way around." BTC and Gold, in a way, are similar due to the energy-value-backing used to mine them. But he was wrong. It is the production cost that gravitates towards price. The value consumers allocate through the market, based on everything in the individuals' minds. You remind me of someone who in reply to the statement that the glass is half full is breaking himself to pieces to prove that the glass is actually half empty, wtf... It is the profit margin that is being rebalanced through the supply-and-demand mechanism |
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Erdogan
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August 15, 2015, 11:29:22 AM |
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Alright then I was a bit wrong, so that gives intrinsic value to gold, splendid.
However I still disagree with the gold price. If that is all what gives value to gold, then perhaps gold should be = to silver.
Remember that the mining scheme of BTC is economically modeled, in a way, after gold mining and commodity production costs as fair value. Satoshi said: " The price of any commodity tends to gravitate toward the production cost. If the price is below cost, then production slows down. If the price is above cost, profit can be made by generating and selling more. At the same time, the increased production would increase the difficulty, pushing the cost of generating towards the price. In later years, when new coin generation is a small percentage of the existing supply, market price will dictate the cost of production more than the other way around." BTC and Gold, in a way, are similar due to the energy-value-backing used to mine them. But he was wrong. It is the production cost that gravitates towards price. The value consumers allocate through the market, based on everything in the individuals' minds. You remind me of someone who in reply to the statement that the glass is half full is breaking himself to pieces to prove that the glass is actually half empty, wtf... It is the profit margin that is being rebalanced through the supply-and-demand mechanism You are right that the problems deserve a slightly longer explanation and I do not doubt that you understand it. But... it is good to remember sometimes, because an investor can come to the wrong conclusion. In bitcoin and also in gold, the cause and effect is rather straightforward and easy to see, but for instance in housing, you can hear a statement like this: "Houses can not be cheaper, because it cost so and so much to build one." But no, that is not the direction of the relationship. The consumers of houses (and speculators) value the houses, and if they value them less, the building cost will have to come down. How? For instance by easier regulation, cost saving in the production chain, reduced wages in the production, choosing less expensive land spots, smaller units, thinner walls. And of course also building less houses, more people crammed into the old houses (you might think this is not cost reduction, but it is when you think that the houses that are not built, are those who would be more costly). Whatever it takes, the cost must go down when the price goes down. |
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bitcollins85
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August 15, 2015, 09:22:33 PM |
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no matter what happen, i prefer gold for now
Can you pay for things online with gold or silver instantaneously, or send fractions of gold or silver over the Internet to friends or family in seconds? |
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gablay12
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August 15, 2015, 10:33:45 PM |
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Gold is for chaotic times.When there is high inflation and you search for an address to park your money you buy gold.It does not burn, it is phisical.It is a tangible asset.However, Bitcoin is intangible, easy to carry, easy to hide.BTC is not for chaotic times but on contrary.
Both gold and BTC is fully convertible.They both have dividends and multiples.
Which I prefer?Both.
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The more I meet people, the more I like my dog.
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Scream
Sr. Member
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U will never know the true answer, before you try
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August 16, 2015, 02:24:08 AM |
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any 1 can give me 1 reason why Gold is better than bitcoin ?
i never think to invest at gold, Invest at stock, bitcoin is best way
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MinerHQ
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August 16, 2015, 04:01:17 AM |
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any 1 can give me 1 reason why Gold is better than bitcoin ?
i never think to invest at gold, Invest at stock, bitcoin is best way
If your read the earlier posts then you will get many reasons why you gold is better option then bitcoin for long term investment. I think you have posted this question without reading the thread. |
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devil11
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August 16, 2015, 10:34:34 AM |
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My choice..... Bitcoin  |
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gablay12
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August 16, 2015, 04:40:30 PM |
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There is a war in Syria at the moment.You are a man who has a family.You want to escape.If you have gold or USD you may save your life and belovings.If you have BTC, you can not.
If you survived you may carry your BTC with you to a safe city / country and and save your life quality.
Everyone must have some gold, USD/EUR and BTC.They are instruments with cons and pros.You must know how and where to use them.
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The more I meet people, the more I like my dog.
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RealBitcoin
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August 16, 2015, 06:07:06 PM |
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There is a war in Syria at the moment.You are a man who has a family.You want to escape.If you have gold or USD you may save your life and belovings.If you have BTC, you can not.
If you survived you may carry your BTC with you to a safe city / country and and save your life quality.
Everyone must have some gold, USD/EUR and BTC.They are instruments with cons and pros.You must know how and where to use them.
And like how do you escape a country with a bag of gold, don't you think you get robbed? Perhaps by even border guards? There are tons of corrupt border guards that just steal your stuff on plain sight with the justification that: "you cannot bring that out of the country". I know this for a fact because I have been robbed by them pigs. Same with cash, sure if you put it in your panties then it might be safe (although not if you are a woman, because who knows what rapist can find it there).
Bitcoin is the only choice to move money safely, although I see your point that bitcoin can't buy you food and water in a warzone, but soon it will, so time will tell |
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IDKwhatimdoing
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August 16, 2015, 08:23:11 PM |
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I could choose both because Bitcoin currency is quite strong, all gold and gold remains
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roadbits
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August 17, 2015, 12:30:10 AM |
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Bitcoin is much easier to divide than gold is. Gold was also used as currency for thousands of years. Many countries and civilizations used gold coins as their currency. Bitcoin can be used just like gold was as a currency in the past.
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Luqman
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August 17, 2015, 03:06:15 AM |
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Surely is Gold, honestly I would prefer Gold than BTC for my invest if I had a lot of money.. IMO
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sempak
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August 17, 2015, 03:45:32 AM |
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I choose GOLD  |
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fruito
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August 17, 2015, 03:50:24 AM |
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I could choose both because Bitcoin currency is quite strong, all gold and gold remains
So do i, we have a same way how to predict it. Bitcoin is much easier to divide than gold is. Gold was also used as currency for thousands of years. Many countries and civilizations used gold coins as their currency. Bitcoin can be used just like gold was as a currency in the past.
so what is your choice ? gold or bitcoin |
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