GreenStox
Sr. Member
 Offline
Activity: 1148
Merit: 252
Undeads.com - P2E Runner Game
|
 |
May 17, 2015, 08:47:20 PM |
|
I'm not going to start a flame war, but it seems that it is you who should go study, though not sociology but rather psychology, and what people actually think (and feel). An average Joe will stay away from Bitcoin after he even temporarily loses his Bitcoin savings due to a blackout or Internet connection failure. And I don't even mention that 99% of populace will not be quite happy about losing 10-20% of their savings value on a daily basis due to Bitcoin price volatility...
Well the volatility is only temporary, the more people use it the less volatility. Secondly do you think the FOREX markets are a flat line or what? Every single currency is volatile, however in a EUR/USD market you only see like 300-400 pips movement in a day, because it's so giant,so this really proves that volatility will decrease over time. The volatility can only decrease if the market grows bigger by a few orders of magnitude. For Bitcoin that would mean tens of thousands of dollars per coin (simple arithmetics). This won't happen until the Bitcoin user base grows accordingly. But it won't grow while the volatility is as high as it is as of now. So you obviously have a vicious circle... Has the Bitcoin user base been actually growing for the last 2 years? That would be true only in a socialist utopia. In the current world wealth is not proportionally distributed, 60% of the wealth is in the top 2-3% of the humans. It doesnt need a 1000x in the userbase to grow the price, it only needs a few whales from wallstreet to open up their purse. And contrary to mainstream average users, the whales are in a "for profit", if they would decide to invest in it. So about a 10% of the population needs to be there to ensure an ongoing demand, while the big whales can just use this as a collateral for their enterprises. Online stores, gambling, entertainment, gaming, movies, and such, it can be a good investment for any millionaire, because the demand is already there, it only needs a shift of currency. I guess we will need to wait until the fiat inflation becomes untolerable, but we shall see. It's up to wallstreet now to push prices up. Things are cooking up extremely nice, with the NASDAQ news it's clear where things are going. Whales are probably silent buying on a daily basis as we speak already, before they go full throttle to drive the price higher than the world trade center, and all the panic seller gazelles get caught. Silent buying? Thats not possible here, this is not Wallstreet. You can keep the gold price artificially down, by buying PHYSICAL GOLD, but selling wortless piece-of-toilet-paper-ponzi-scheme gold certificates at the same time.But how are you going to sell fake bitcoin certificates to keep the price artificially down while buying spot BTC? (Or are you talking about PAPER BTC cards with fake private keys  ) |
|
|
|
|
|
|
Unlike traditional banking where clients have only a few account numbers, with Bitcoin people can create an unlimited number of accounts (addresses). This can be used to easily track payments, and it improves anonymity.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
gentlemand
Legendary
Offline
Activity: 2590
Merit: 3013
Welt Am Draht
|
|
May 17, 2015, 09:01:20 PM |
|
But how are you going to sell fake bitcoin certificates to keep the price artificially down while buying spot BTC? (Or are you talking about PAPER BTC cards with fake private keys ) If there's extra money in it someone's going to try and find a way. That's what they do. |
|
|
|
|
GreenStox
Sr. Member
Offline
Activity: 1148
Merit: 252
Undeads.com - P2E Runner Game
|
|
May 17, 2015, 09:05:01 PM |
|
But how are you going to sell fake bitcoin certificates to keep the price artificially down while buying spot BTC? (Or are you talking about PAPER BTC cards with fake private keys ) If there's extra money in it someone's going to try and find a way. That's what they do. It's hard to make a fraud like that. See gold certificates will only get debunked after the traders realize that there are 10,000x more certificates sold than there is gold on the Planet. And that might take a few more years for them to realize. However if you buy a "bitcoin certificate" you can verify INSTANTLY that that address has bitcoin on it, and that the private key corresponds to the address. |
|
|
|
deisik
Legendary
Offline
Activity: 3444
Merit: 1280
English ⬄ Russian Translation Services
|
|
May 17, 2015, 09:25:01 PM
Last edit: May 17, 2015, 09:53:15 PM by deisik |
|
Silent buying? Thats not possible here, this is not Wallstreet.
You can keep the gold price artificially down, by buying PHYSICAL GOLD, but selling wortless piece-of-toilet-paper-ponzi-scheme gold certificates at the same time.
But how are you going to sell fake bitcoin certificates to keep the price artificially down while buying spot BTC?
That wouldn't be difficult to do with bills of exchange, which are written orders requiring one party to pay a fixed sum of money to another party at a fixed date in the future. In fact, such promissory notes were the first paper money in Europe (since medieval times). So, in a sense, the history would repeat itself... |
|
|
|
GreenStox
Sr. Member
Offline
Activity: 1148
Merit: 252
Undeads.com - P2E Runner Game
|
|
May 17, 2015, 09:30:44 PM |
|
Silent buying? Thats not possible here, this is not Wallstreet.
You can keep the gold price artificially down, by buying PHYSICAL GOLD, but selling wortless piece-of-toilet-paper-ponzi-scheme gold certificates at the same time.
But how are you going to sell fake bitcoin certificates to keep the price artificially down while buying spot BTC?
That wouldn't be difficult with bills of exchange, which are written orders requiring one party to pay a fixed sum of money to another party at a fixed date in the future. In fact, such promissory notes were the first paper money in Europe. So, in a sense, the history would repeat itself... I dont understand, do you mean future contracts or forward contracts? But bitcoin cant be minted fraudulently, so that is not like a price manipulation, but rather a direct theft. See when you create a derivative, you will always need a liquidity provider who can take short term loans, if not from reserves, then from the central bank. So the entire current system is based on money printing (even for a short term 2-3 hour loan). But you cant built complext derivatives on Bitcoin because the bitcoin supply is not modifiable, and you cant place a trade without margin That would be like saying, give me 100$ and i`ll pay it back if i want it. |
|
|
|
deisik
Legendary
Offline
Activity: 3444
Merit: 1280
English ⬄ Russian Translation Services
|
|
May 17, 2015, 09:45:51 PM |
|
Silent buying? Thats not possible here, this is not Wallstreet.
You can keep the gold price artificially down, by buying PHYSICAL GOLD, but selling wortless piece-of-toilet-paper-ponzi-scheme gold certificates at the same time.
But how are you going to sell fake bitcoin certificates to keep the price artificially down while buying spot BTC?
That wouldn't be difficult with bills of exchange, which are written orders requiring one party to pay a fixed sum of money to another party at a fixed date in the future. In fact, such promissory notes were the first paper money in Europe. So, in a sense, the history would repeat itself... I dont understand, do you mean future contracts or forward contracts? I mean neither. I'd recommend you go (finally) study the history of paper money. Bills of exchange (otherwise known as promissory notes) are a form of privately emitted money (they are transferable by endorsements), still in existence even today... |
|
|
|
Erdogan
Legendary
Offline
Activity: 1512
Merit: 1005
|
|
May 17, 2015, 09:50:59 PM |
|
Silent buying? Thats not possible here, this is not Wallstreet.
You can keep the gold price artificially down, by buying PHYSICAL GOLD, but selling wortless piece-of-toilet-paper-ponzi-scheme gold certificates at the same time.
But how are you going to sell fake bitcoin certificates to keep the price artificially down while buying spot BTC?
That wouldn't be difficult with bills of exchange, which are written orders requiring one party to pay a fixed sum of money to another party at a fixed date in the future. In fact, such promissory notes were the first paper money in Europe. So, in a sense, the history would repeat itself... I dont understand, do you mean future contracts or forward contracts? I mean neither. I'd recommend you go (finally) study the history of paper money. Bills of exchange (otherwise known as promissory notes) are a form of private money, still in existence today... We can't get rid of those, and we don't want to, because they are useful, and they also adjust the money volume when needed in an otherwise hard money economy. The question is, will they expand out of control? No, traders will keep the volume in check because they carry some risk. |
|
|
|
|
|
sdmathis
|
|
May 17, 2015, 09:59:26 PM |
|
Gold is a good hedge against inflation where Bitcoin isnt. It could go either way in the face of inflation. Since I see Bitcoin as a currency rather than an investment, I'd have to choose gold.
|
|
|
|
|
wearepoor
|
|
May 19, 2015, 05:01:47 AM |
|
For thousands of years, gold has been the international currency, and for good reason. Gold is a substance that is in high demand and there is a finite amount that can be produced.
Bitcoin, through cryptography,was created on this very principles.Bitcoin must be mined,is in high demand and there is a only finite amount that is available-just like the gold.
Relatively to its short history, Bitcoin has made a significant global impact and has become popular with those who seek an alternative to fiat currency. Only time will tell which has more upside : Bitcoin or Gold.
|
|
|
|
|
|
zendantom
|
|
May 19, 2015, 07:41:40 AM |
|
Gold is a good hedge against inflation where Bitcoin isnt. It could go either way in the face of inflation. Since I see Bitcoin as a currency rather than an investment, I'd have to choose gold.
Remember the goal of currency is to be fairy stable. Stability makes a currency a store of value, which is important for saver and investors. Gold was the asset of choice for these investors in 2013,but that bet turned into bust and much worse than a dollar. Bitcoin hasn't been much better than gold. The value of bitcoin collapsed. The fact of the matter,both the gold and bitcoin are much too volatile to be considered ideal store of value, as least in the recent history. |
|
|
|
GreenStox
Sr. Member
Offline
Activity: 1148
Merit: 252
Undeads.com - P2E Runner Game
|
|
May 20, 2015, 07:41:51 PM |
|
Gold is a good hedge against inflation where Bitcoin isnt. It could go either way in the face of inflation. Since I see Bitcoin as a currency rather than an investment, I'd have to choose gold.
How? Gold doesnt inflate? Then what are gold mines exactly? Yes bitcoin does inflate too, but not like the Argentine Peso, the Mexican Peso or the Swiss Frank or the Ukrainian hryvnia. When the CB mechanism goes total printing, then Bitcoin will be a hedge agains inflation. You are crying about BTC 10% yearly inflation, wait until your $ or € or £ gets 500% yearly inflation |
|
|
|
|
operrajunk74
|
|
May 31, 2015, 06:58:31 PM |
|
Gold is a good hedge against inflation where Bitcoin isnt. It could go either way in the face of inflation. Since I see Bitcoin as a currency rather than an investment, I'd have to choose gold.
Remember the goal of currency is to be fairy stable. Stability makes a currency a store of value, which is important for saver and investors. Gold was the asset of choice for these investors in 2013,but that bet turned into bust and much worse than a dollar. Bitcoin hasn't been much better than gold. The value of bitcoin collapsed. The fact of the matter,both the gold and bitcoin are much too volatile to be considered ideal store of value, as least in the recent history. That is correct but I believe both products are good for the investment purposes. The future is uncertain but you can afford to take a risk and can go for either of any product if you are looking for good investment for the future. Neither any product guarantees the profit but this is the right time to invest. |
|
|
|
|
|
torrentheaven
|
|
May 31, 2015, 09:31:55 PM |
|
Gold is a good hedge against inflation where Bitcoin isnt. It could go either way in the face of inflation. Since I see Bitcoin as a currency rather than an investment, I'd have to choose gold.
Remember the goal of currency is to be fairy stable. Stability makes a currency a store of value, which is important for saver and investors. Gold was the asset of choice for these investors in 2013,but that bet turned into bust and much worse than a dollar. Bitcoin hasn't been much better than gold. The value of bitcoin collapsed. The fact of the matter,both the gold and bitcoin are much too volatile to be considered ideal store of value, as least in the recent history. I keep my money on gold over bitcoin as you cannot trust bitcoin as it exist since last 6 years but the gold is traditional currency so would definitely prefer to invest in gold as we are aware that gold have not disappointed anyone since its inception so would gamble on gold. |
|
|
|
|
|
umaOuma
|
|
May 31, 2015, 10:26:48 PM |
|
Gold is a good hedge against inflation where Bitcoin isnt. It could go either way in the face of inflation. Since I see Bitcoin as a currency rather than an investment, I'd have to choose gold.
I would prefer gold too.. if you are looking for safe and long term investment then i think gold is the better option as compared to bitcoin.. no one is aware about the bitcoin in my country so they would definitely hesitate in investing in bitcoin gold would be their first option |
|
|
|
|
|
TrackCoin
|
|
May 31, 2015, 10:35:49 PM |
|
Bitcoin popularity how much running day by day it's not very much far not only Gold in this world every business should deals by great Bitcoin. Gold and Bitcoin almost similar who have Bitcoin they can buy anytime any moment everywhere Gold and who have gold they can buy too both is I think related each others and both is valuable things.
|
|
|
|
gkv9
Legendary
Offline
Activity: 1246
Merit: 1000
!!! RiSe aBovE ThE StoRm !!!
|
|
June 01, 2015, 07:21:30 AM |
|
Gold is a good hedge against inflation where Bitcoin isnt. It could go either way in the face of inflation. Since I see Bitcoin as a currency rather than an investment, I'd have to choose gold.
I would prefer gold too.. if you are looking for safe and long term investment then i think gold is the better option as compared to bitcoin.. no one is aware about the bitcoin in my country so they would definitely hesitate in investing in bitcoin gold would be their first option Would you mind if I ask which country do you belong to??? There's no such place unaware of Bitcoins currently, whether or not, everyone knows Bitcoins either as a P&D currency or as an opportunity after that $1k spike... |
|
|
|
BTCevo
Legendary
Offline
Activity: 1834
Merit: 1008
|
|
June 01, 2015, 03:03:51 PM |
|
Bitcoin popularity how much running day by day it's not very much far not only Gold in this world every business should deals by great Bitcoin. Gold and Bitcoin almost similar who have Bitcoin they can buy anytime any moment everywhere Gold and who have gold they can buy too both is I think related each others and both is valuable things.
Bitcoin and Gold doesnt correspond to each other because bitcoin is a short term investment but gold is a long term investment so both of them is much a like just as investments but both of them doesnt affected to each other. Their market doesnt same too. And gold is more valuable things since their market is much much more larger than bitcoin plus bot of their price is a matter. Gold will rise every year but it doesnt go to bitcoin that still have a volatile price until now |
|
|
|
|
|
|
|
bitparadise
|
|
June 01, 2015, 05:20:46 PM |
|
Both have pros and cons, so why not both?
|
|
|
|
|
|
oblivi
|
|
June 02, 2015, 05:15:43 PM |
|
Bitcoin popularity how much running day by day it's not very much far not only Gold in this world every business should deals by great Bitcoin. Gold and Bitcoin almost similar who have Bitcoin they can buy anytime any moment everywhere Gold and who have gold they can buy too both is I think related each others and both is valuable things.
Bitcoin and Gold doesnt correspond to each other because bitcoin is a short term investment but gold is a long term investment so both of them is much a like just as investments but both of them doesnt affected to each other. Their market doesnt same too. And gold is more valuable things since their market is much much more larger than bitcoin plus bot of their price is a matter. Gold will rise every year but it doesnt go to bitcoin that still have a volatile price until now How is Bitcoin a short term investment? Anyone that is on here should be aiming 10+ years, anything less and it's a waste of time and you'll likely sell way too early and lose money. Gold, it is what is. It may take half a lifetime for a pump and meanwhile stay solid. Not very exciting investment wise. |
|
|
|
|
|
