Gold and blockchain Technology

[Polo7]

If the blockchain Technology rises more miners more it Technology and servers and computers.

Then the Gold Price will Go up as demand too
Coz Every electronic device need gold Gold is best metal for Electrical wires and small things.



Gold / electricity/ blockchain are similar asset or resource group




That's my Conclusion:)

[1714950396]

1714950396

[1714950396]

1714950396

[1714950396]

1714950396

[rijaljun]

In your point, we should know that today there are so many wireless products and it's less and less wires to use. So, it means that the metal you are talking will have less demand in the future.

If the metal is gold, then the demands of gold will be decreasing, and you can't compare it with Bitcoin anymore.

[heidikim]

Gold is already a scarce mine. And valuable all over the world. How Blockchain appreciated. Blockchain got us into bitcoin. He became famous for bitcoin. Now, if gold and blockchain build an economy together, I think a very solid order can be established.

[dark08]

In your point, we should know that today there are so many wireless products and it's less and less wires to use. So, it means that the metal you are talking will have less demand in the future.

If the metal is gold, then the demands of gold will be decreasing, and you can't compare it with Bitcoin anymore.

I agree to your opinion dude now a day theres a lot of devices that no need wire I dont think if this will have an effect to Gold price but we all know that Gold is one of the popular metal all over the world compare to block chain that not yet know of every people/country but the good thing its been increase the demand for the past several years.

[oktana]

the greatest influence of gold is related to currency reserves and gold trading in a purer form.

Electronic device components and electrical cables only involve a small percentage because they are still mixed with other metal materials, especially silver, iron, and fiberglass. Not only for blockchain technology because the gold component is also used by many other large industrial technologies, I think this is not a strong reason for speculation regarding macro demand.

[Ucy]

Guess you're suggesting that Gold is as useful as cryptocurrency.
Well, seems it is mostly used for making complex things/technologies... And it's quite scarce. You wouldn't want to waste something that is that scarce & valuable.
I guess it can be considered a very good store of value, and could be useful as currency. Though it could only be very useful in a world with no choas and scarcity of basic things.
There are probably other more useful purposes of gold we don't know much about. That could add to its value/price due mainly to scarcity and its other valuable features .

[DoublerHunter]

~snip~
Gold / electricity/ blockchain are similar asset or resource group

^ No, you have a wrong conclusion here. If you mean gold metal assets is the same with crypto digital asset because they had both have miners, you are definitely wrong. Cryptocurrency like Bitcoin has a fixed amount while the gold can increase and it has an unlimited amount depending on what miners got. Technically speaking, the demand and supply of gold did not affect the price while cryptocurrency was a matter of demand and supply because the more demand and less supply it will cause of pump the price. Nevertheless, they are not on the same side.

[Bet1Coin]

~snip~
Gold / electricity/ blockchain are similar asset or resource group

^ No, you have a wrong conclusion here. If you mean gold metal assets is the same with crypto digital asset because they had both have miners, you are definitely wrong. Cryptocurrency like Bitcoin has a fixed amount while the gold can increase and it has an unlimited amount depending on what miners got. Technically speaking, the demand and supply of gold did not affect the price while cryptocurrency was a matter of demand and supply because the more demand and less supply it will cause of pump the price. Nevertheless, they are not on the same side.

Interesting point, but in my opinion it is more a question of demand than supply.
Both resources are scarce, but demand on bitcoin is way more likely to explode than it is for gold.
Question is will people keep buying bitcoins at any price while it is easier to replace bitcoin with similar blockchain technology than replace gold with another metal.

[enhu]

There are synthetic gold already that they can use, it doesn't need to be mine. I think the manufacturer of the devices like motherboards which you sees to need gold uses these synthetic already. Not sure though but everything today can be created in a lab including diamonds which is almost same as real.

If we are to compare BTC and Gold, I guess convenience will win. You just can't bring large amount of gold anywhere but with BTC you can cross boarders with more than $10k in your phone wallet.

[FLoving]

If the blockchain Technology rises more miners more it Technology and servers and computers.

Then the Gold Price will Go up as demand too
Coz Every electronic device need gold Gold is best metal for Electrical wires and small things.



Gold / electricity/ blockchain are similar asset or resource group




That's my Conclusion:)

You are not wrong that these electronic devices will need gold and the demand of gold will increase but the amount of gold with each miner will be in traces while they will have huge piles of bitcoin and cryptocurrencies so this condition will not increase the price the same as bitcoin and altcoins.

[ReiMomo]

~snip~

You are not wrong that these electronic devices will need gold and the demand of gold will increase but the amount of gold with each miner will be in traces while they will have huge piles of bitcoin and cryptocurrencies so this condition will not increase the price the same as bitcoin and altcoins.

In electronic devices not only pure gold was there, but only a little amount of gold they are using especially in the circuit board. I think the more have usage are platinum, tin and the bronze. If there is a large demand for gold, it will not make sense that the price will go up because of the usage. Unlike Bitcoin, every fluctuation has and being volatile will make bitcoin goes up.

[The Sceptical Chymist]

Nah.  There may be tons of electronics out there, but each one only uses a very small amount of gold as far as I know, and a lot of it gets recycled anyway.  It's not like they have to dig gold out of the ground in order to make those electronics.

And to relate that hypothetical situation to bitcoin?  That's one hell of a leap in logic, and I'm not buying it.  Gold and bitcoin are not correlated and bitcoin won't ever be dependent on the gold situation, whatever that is.

You are not wrong that these electronic devices will need gold and the demand of gold will increase

Then gold recycling will increase.  The result will be that there won't be an increase in gold mining or even an increase in the price of gold.  I've been hearing similar arguments for years now, especially regarding the use of silver in medicine.  I don't think people understand how little of these metals get used and how much gets recovered.

[1Referee]

If there is a large demand for gold, it will not make sense that the price will go up because of the usage.

It's kinda funny how Gold bugs praise the industrial utility of the metal, yet are clueless when it comes to acknowledging the fact that its value is largely dependent on speculation. The higher the price of Gold is, which is driven up by speculation through derivatives, the lesser the industrial demand is for the metal.

Silver and some other metals have seen a massive spike up in industrial use throuhout the last decade, while Gold's industrial use keeps sinking. In a world where cheaper products matter, and we have so much choice between cheap products, it only makes sense to not use Gold because there is no way you can compete with the rest.

In terms of jewelry Gold isn't losing any popularity. The more expensive the metal becomes, the more people want it because it allows them to use their jewelry as symbol of status/wealth. Who doesn't want to own plenty of something so shiny and expensive? Added benefit is that it also represents money and value, which throughout the years will only further increase.

[gunungkembar]

~snip~

You are not wrong that these electronic devices will need gold and the demand of gold will increase but the amount of gold with each miner will be in traces while they will have huge piles of bitcoin and cryptocurrencies so this condition will not increase the price the same as bitcoin and altcoins.

In electronic devices not only pure gold was there, but only a little amount of gold they are using especially in the circuit board. I think the more have usage are platinum, tin and the bronze. If there is a large demand for gold, it will not make sense that the price will go up because of the usage. Unlike Bitcoin, every fluctuation has and being volatile will make bitcoin goes up.

yes gold should be better used for a more profitable exchange value, if used for port boards in electricity it usually uses brass and there is no gold element because if there is an element of gold then the price will be expensive and of course gold will run out because it is widely used for electricity .

[TastyChillySauce00]

Never I know blockchain could affect that much except pumping the GPU sales. Even if blockchain dominate the whole world through implementation for efficiency it'll not do any influence to the price of gold. I mean gold are dominated by those people who want to save their wealth value and industrial just need small portion of the whole market. In the future, the gold price will still be affected by people who hold it not blockchain.

[btccashacc]

In electronic devices not only pure gold was there, but only a little amount of gold they are using especially in the circuit board. I think the more have usage are platinum, tin and the bronze. If there is a large demand for gold, it will not make sense that the price will go up because of the usage. Unlike Bitcoin, every fluctuation has and being volatile will make bitcoin goes up.

Exactly, It wouldn't affect the gold price directly since they only use a little amount of gold. It might be a GPU, we all know that when the bitcoin launched and became popular the demand for GPU has been increased as well as the price. I have a couple of friends who are not crypto enthusiasts blaming crypto for making GPU so expensive, well  I've never heard that blockchain development could affect the gold's price especially in manufacturing.

[awik p]

~snip~

You are not wrong that these electronic devices will need gold and the demand of gold will increase but the amount of gold with each miner will be in traces while they will have huge piles of bitcoin and cryptocurrencies so this condition will not increase the price the same as bitcoin and altcoins.

In electronic devices not only pure gold was there, but only a little amount of gold they are using especially in the circuit board. I think the more have usage are platinum, tin and the bronze. If there is a large demand for gold, it will not make sense that the price will go up because of the usage. Unlike Bitcoin, every fluctuation has and being volatile will make bitcoin goes up.

yes gold should be better used for a more profitable exchange value, if used for port boards in electricity it usually uses brass and there is no gold element because if there is an element of gold then the price will be expensive and of course gold will run out because it is widely used for electricity .

indeed there is gold used for electrical ports, but the amount is not much, and the average use of brass for the coating, will be very expensive if the electronic components use gold as a coating. and I think this will increase the need for gold

[crossabdd]

Well, many electronic components use gold. including the bitcoin mining machine. but what is the function of gold in electronic devices to improve algorithm solving in crypto mining? I don't yet understand that gold in electronics can improve crypto mining. hopefully when the halving has been carried out and will be made more powerful mining machines.

[Janation]

If the blockchain Technology rises more miners more it Technology and servers and computers.

Then the Gold Price will Go up as demand too
Coz Every electronic device need gold Gold is best metal for Electrical wires and small things.

It is true that gold is used but I don't think it will be for electrical wires.

Gold is a good conductor but just imagine using a phone and all of its wires are made up of Gold, that would be so expensive. So they used cheaper metal, which is copper. Gold is mostly found on the circuit board of an electronic device. Another thing is that I think Gold's demand is really high right now since we are already using electronic devices every single day, I think what you are saying is that it would increase more.

[kapalmabur]

Never I know blockchain could affect that much except pumping the GPU sales. Even if blockchain dominate the whole world through implementation for efficiency it'll not do any influence to the price of gold. I mean gold are dominated by those people who want to save their wealth value and industrial just need small portion of the whole market. In the future, the gold price will still be affected by people who hold it not blockchain.

this technology is only to help humans have different gold, gold is created by nature, and if gold can no longer be mined, then this asset will really be destroyed, only the rich have this gold, but the blockchain gives us the choice to can accept it as an asset, which is bitcoin and altcoin