Re: Will people come back to gold

[LeGaulois]

As a store value, maybe.

As a cash alternative? That option died the day the internet was invented.

Seriously, how is people gonna use gold? Let's say you bought a computer from amazon. How you gonna pay? Send coins with fedex?

Gold is done with being a cash alternative. And soon dollar will be following.

More from a funds management side with investors using Gold as a store of value. But if "a lot of investors" are buying gold at the same time, it could tell something, it can be a market collapse or simply nothing well performing for their taste currently so better to store and wait for an opportunity in some months.

We used gold centuries ago, we could be totally able to come back to it. Or at least back to the US dollar backed by gold like it was years ago.

[1715295362]

1715295362

[MetalGear]

I think some of the investor of cryptocurrencies started to back in GOLD because of the current situation of market. But, do you think some of them will back to investing in cryptocurrencies especially when the uptrend started?

[LUCKMCFLY]

In a recent news, I read that many millionaires have returned to believe in gold, since they think there will be a global crash for this year or next, the Rotschield case is one of them, although the best and according to a book Well called "A Random Walk for Wall Streeth" by Burton,teach that money should be diversified so that we have several protection options, so I would say it would be good to have gold, cryptos, fiat money, real estate, among others.,

[akram143]

People always made the hope with the gold is more than Bitcoin investment Vikas gold is more stable than Bitcoin from a long time ago so definitely if the blockchain technology will not been useful for the people they will return to Gold very easily this will definitely happen if the cryptocurrency field collapse.

[Best Dreams]

if that is certain while the market is getting worse, because going back to gold is a good choice to invest to get profits from surviving crypto is still difficult to get promising benefits

You seems to be so discoursing which is not good for sure, I think it is good to invest and keep investing in bitcoin only, don’t look at price change only as there are some issues to be consider as safety and holding issue, you can’t hold so much gold at your home that can be dangerous for your safety on other hand investing crypto will give you wallets online which is unable to hack or to steel so better invest in crypto only avoid investing in GOLD.

[angel55]

People always made the hope with the gold is more than Bitcoin investment Vikas gold is more stable than Bitcoin from a long time ago so definitely if the blockchain technology will not been useful for the people they will return to Gold very easily this will definitely happen if the cryptocurrency field collapse.

Based on history we know gold will still be valuable 500 years from now,  its difficult to imagine bitcoin being the same that far in the future.  The smart move is to invest in both.

[Beerwizzard]

If you're being practical, buy a gold for a good and trusted investment because that's a physical quantity. If there's a huge crisis in our country, lock down of internet, servers shutdown, and war, probably this gold might help me to bring me up again.

The problem is that physical gold might be a pretty bad investment. If you have a gold bar in your house then you should carefully watch over it because any tiny scratch will cause a significant price decrease while buying a "virtual" gold still can't guarantee 100% safety during a financial crisis. Also in case of any military conflict even physical gold won't really help you.

[palle11]

As a store value, maybe.

As a cash alternative? That option died the day the internet was invented.

Seriously, how is people gonna use gold? Let's say you bought a computer from amazon. How you gonna pay? Send coins with fedex?

Gold is done with being a cash alternative. And soon dollar will be following.

You have made a more practical analysis of the topic and I agree with you. The topic would have been better coined as "the challenges of gold in modern economics"  .

People these days want to handle lesser goods, properties in their hands. They want to be handy. Simplicity is taking over our lives, even with technology as we see.

Gold was known as a means of store of value, it defined riches, affluence and a show of better living but not anymore.

People find it difficult to carry themselves around and not to start worrying about how to carry their gold  

The physicality of gold , like fiat is its major undoing against bitcoin.

Its importance is no longer felt in modern phase of technological growth. More over, block chain apart from bitcoin, can be better utilized more than just a "gold".

[markj113]

The problem is that physical gold might be a pretty bad investment. If you have a gold bar in your house then you should carefully watch over it because any tiny scratch will cause a significant price decrease while buying a "virtual" gold still can't guarantee 100% safety during a financial crisis. Also in case of any military conflict even physical gold won't really help you.

Another example of someone that hasn't got a clue what he his taking about.  Gold bullion be it bars or coins are valued based on gold content. Scratches, finger marks or dents make no difference.    The only thing you need to keep perfect are proof quality coins.

The UK also issues gold sovereigns as part of air crew survival kits encase they are downed in enemy territory.  I think they are a little more knowledgeable than you.

[Vaskiy]

People always made the hope with the gold is more than Bitcoin investment Vikas gold is more stable than Bitcoin from a long time ago so definitely if the blockchain technology will not been useful for the people they will return to Gold very easily this will definitely happen if the cryptocurrency field collapse.

Based on history we know gold will still be valuable 500 years from now,  its difficult to imagine bitcoin being the same that far in the future.  The smart move is to invest in both.

Well said, a diversified investment seems to be the best way to go profiting and this lets an user go without loss even when there is some sort of bearish trend. Gold being historically valuable people tend to go on back to gold when bitcoin experience a downfall. As said when years pass bitcoin too might grow in the technical aspect same as gold which is asset based.

[Nolimitz84]

People always made the hope with the gold is more than Bitcoin investment Vikas gold is more stable than Bitcoin from a long time ago so definitely if the blockchain technology will not been useful for the people they will return to Gold very easily this will definitely happen if the cryptocurrency field collapse.

Bitcoin is only 10 years old.Many rich people are not even aware of the existence of bitcoin and cryptocurrencies.Let's understand the value of gold and the value of bitcoin.Gold is a unique metal without which in fact most industries will not exist.What is bitcoin-a virtual asset that can not be felt and stored with a 100% guarantee.What can be done with it?Just store in the hope that its emission is limited and it will be guaranteed to grow in value?Why is the state buying up that gold and not bitcoin?If you believe the author of this post and agree that really many countries are buying gold on a large scale,unfortunately it says only one thing-the world is either preparing for war or for a very protracted crisis.

[coinplus]

I doubt it would be a permanent thing.

Gold has always been a favorable thing to buy during the economic crashes but also do not forget that as soon as the crash happens and we go into the recovery period there would be people trying to sell their gold to buy low valued stocks to be bottom buyers in that sense. That is why there is really no trust in this gold buying period because the drop will be quick and people will sell their golds to buy stuff for sure. That is why I think it would be wiser to stay in crypto for now because if the markets fall there are not many people who will sell their crypto to buy stocks at the bottom unlike gold.

Price of gold could probably be going up for a while and that is decent but believe me when I say this it is temporary and it will fall back down.

[deisik]

We used gold centuries ago, we could be totally able to come back to it. Or at least back to the US dollar backed by gold like it was years ago

Not gonna work out

Well, it could actually work out if we got back to the state we had been in like 16-17th centuries (or even before that). Conspiracy theories aside, the major reason why governments dismantled gold backup of fiat currencies was because it had been a constant pain in the ass in the form of monetary imbalances which were caused by the rapid expansion of the world economy due to Industrial Revolutions (definitely not a bad thing on its own)

It had started to be acutely felt in the second half of the 19th century and ultimately led to the Great Depression of 1929 (with a train of minor crises before 1929). The Nixon shock of 1973 was sort of official divorce, but we could safely claim that gold and dollar parted their ways as early as 1933 after Franklin Roosevelt had signed his famous Executive Order 6102. In other countries the separation occurred even earlier

[sfr2017]

The current volatility in crypto currencies may attract investors as traders, to use gold for the foreseeable future as a substitute.
specially " the Gold Standard"is a monetary system as a value directly linked to gold.

[LUCKMCFLY]

Many economists, in favor of gold, recommend having gold shares even if gold falls, almost the entire metal market suffers, and as can happen with Bitcoin.

If Bitcoin falls, all altcoins suffer. It is not that we return to Gold, but it would be excellent to have some gold shares as a measure of protection.

Some think that this year and 2020 may be a global collapse of the economy, and a protection option would be gold, in fact, recently, there was a leak of news from the Rotschield family, which has changed all its investments to gold. It must be taken into account, gold represents solidity, security and under that premise are based on acquiring it.

[Beerwizzard]

The problem is that physical gold might be a pretty bad investment. If you have a gold bar in your house then you should carefully watch over it because any tiny scratch will cause a significant price decrease while buying a "virtual" gold still can't guarantee 100% safety during a financial crisis. Also in case of any military conflict even physical gold won't really help you.

Another example of someone that hasn't got a clue what he his taking about.  Gold bullion be it bars or coins are valued based on gold content. Scratches, finger marks or dents make no difference.    The only thing you need to keep perfect are proof quality coins.

The UK also issues gold sovereigns as part of air crew survival kits encase they are downed in enemy territory.  I think they are a little more knowledgeable than you.

Then go try to sell bank issued gold bar with a scratch back to the bank for approximately the same price as you paid for it.
Maybe it doesn't work the same in all countries but the general rule still looks like that.

[markj113]

Then go try to sell bank issued gold bar with a scratch back to the bank for approximately the same price as you paid for it.
Maybe it doesn't work the same in all countries but the general rule still looks like that.

You obviously have never owned any gold so why not stick to topics where you have a clue what you are talking about?

No bank or bullion dealer will pay you the exact same price as they sold it for or they would go out of business very quickly (taking out spot price variance)

There is always a buy/sell spread, typically I but at 2% - 3% over spot and if I were to sell immediately back to the same dealer I would get around 95% - 100% spot depending on demand at that time.

Bullion is called bullion for a reason, here is an example:

https://www.hattongardenmetals.com/sell-scrap-gold.aspx

See how prices are based on gold content with no mention of scratches?

[LeGaulois]

We used gold centuries ago, we could be totally able to come back to it. Or at least back to the US dollar backed by gold like it was years ago

Not gonna work out

Well, it could actually work out if we got back to the state we had been in like 16-17th centuries (or even before that). Conspiracy theories aside, the major reason why governments dismantled gold backup of fiat currencies was because it had been a constant pain in the ass in the form of monetary imbalances which were caused by the rapid expansion of the world economy due to Industrial Revolutions (definitely not a bad thing on its own)

It had started to be acutely felt in the second half of the 19th century and ultimately led to the Great Depression of 1929 (with a train of minor crises before 1929). The Nixon shock of 1973 was sort of official divorce, but we could safely claim that gold and dollar parted their ways as early as 1933 after Franklin Roosevelt had signed his famous Executive Order 6102. In other countries the separation occurred even earlier

Right, I didn't know what was the Executive Order 6102 and wasn't aware a few countries did it before the USA.
What you call "the monetary imbalances which were caused by the rapid expansion of the world economy due to Industrial Revolutions (definitely not a bad thing on its own)" could be also called as the new way to print money and the unlimited scriptural money based on nothing. To reply to the industrial revolution as you said.

[deisik]

We used gold centuries ago, we could be totally able to come back to it. Or at least back to the US dollar backed by gold like it was years ago

Not gonna work out

Well, it could actually work out if we got back to the state we had been in like 16-17th centuries (or even before that). Conspiracy theories aside, the major reason why governments dismantled gold backup of fiat currencies was because it had been a constant pain in the ass in the form of monetary imbalances which were caused by the rapid expansion of the world economy due to Industrial Revolutions (definitely not a bad thing on its own)

It had started to be acutely felt in the second half of the 19th century and ultimately led to the Great Depression of 1929 (with a train of minor crises before 1929). The Nixon shock of 1973 was sort of official divorce, but we could safely claim that gold and dollar parted their ways as early as 1933 after Franklin Roosevelt had signed his famous Executive Order 6102. In other countries the separation occurred even earlier

Right, I didn't know what was the Executive Order 6102 and wasn't aware a few countries did it before the USA.
What you call "the monetary imbalances which were caused by the rapid expansion of the world economy due to Industrial Revolutions (definitely not a bad thing on its own)" could be also called as the new way to print money and the unlimited scriptural money based on nothing. To reply to the industrial revolution as you said

It is more like all major countries did it before the US

Basically, the gold standard was effectively abandoned everywhere in the world (but in the US, obviously) when WWI started. That was a reasonable thing to do as belligerent countries started to print money like there was no tomorrow and for some of them there was not (as all countries do that when they are warring)

Germany as the Wiemar Republic had returned to gold standard in like 1923-24 for a short while to get down with the hyperinflation they succumbed to after they had lost the war and were obliged to pay heavy war reparations (which they fully paid out only in 2010)

[Best Dreams]

The problem is that physical gold might be a pretty bad investment. If you have a gold bar in your house then you should carefully watch over it because any tiny scratch will cause a significant price decrease while buying a "virtual" gold still can't guarantee 100% safety during a financial crisis. Also in case of any military conflict even physical gold won't really help you.

Another example of someone that hasn't got a clue what he his taking about.  Gold bullion be it bars or coins are valued based on gold content. Scratches, finger marks or dents make no difference.    The only thing you need to keep perfect are proof quality coins.

The UK also issues gold sovereigns as part of air crew survival kits encase they are downed in enemy territory.  I think they are a little more knowledgeable than you.

Then go try to sell bank issued gold bar with a scratch back to the bank for approximately the same price as you paid for it.
Maybe it doesn't work the same in all countries but the general rule still looks like that.

Yes if once you buy some gold and you store all of them in bank then after holding if you take It out for selling so it will not make profit for you but most of time it use to increase the value, so according to me investing your money is gold is not good investment and wise people never get back to this old system of investing our money.