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Question: Will you support Gavin's new block size limit hard fork of 8MB by January 1, 2016 then doubling every 2 years?
1.  yes
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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1808718 times)
bit.craft
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January 05, 2014, 11:10:17 AM
 #7321

Current price of GLD is unsustainable for many mining companies and they've been shutting down some of their sites in 2013. Yet the price has some way to go downward me thinks b/c at the end it's the traders that drives the market not producers.
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flynn
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January 05, 2014, 12:47:26 PM
 #7322

Global qty of gold in the world ~ 30,562,500 kg
Global qty of BTC in the world ~ 21,000,000

So 1kg ~ 1 BTC makes some sense. Even 1.455 kg/BTC  Smiley


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domob
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January 05, 2014, 01:09:51 PM
 #7323


  I felt then as I feel now;  Bitcoin/gold 'parity' is much closer to 1BTC/kg than 1BTC/oz just on the transmission utility alone.  Probably even higher.



yup. Can't wait to buy a kg of gold with 1 btc.

I bet it wont be as long as many might think Smiley

Definitely.  I have no founded opinion on when exactly this will happen, but I think it is likely to happen at some point; and then I will surely buy 1 kg of gold, just for the fun of it.  (I remember that just one or two years ago, 1 kg of gold seemed like something very far away for me to own; at least if I didn't want to spend everything on it.  Now it isn't anymore thanks to Bitcoin.)

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January 05, 2014, 01:12:01 PM
 #7324

Global qty of gold in the world ~ 30,562,500 kg
Global qty of BTC in the world ~ 21,000,000

So 1kg ~ 1 BTC makes some sense. Even 1.455 kg/BTC  Smiley

Is the global quantity of mined gold really only around 30 000 metric tonnes? That doesn't seem right..

It's all bullshit. But bullshit makes the flowers grow and that's beautiful.
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January 05, 2014, 01:29:33 PM
 #7325

That's the bank reserves http://fr.wikipedia.org/wiki/R%C3%A9serve_d%27or
http://en.wikipedia.org/wiki/Gold_reserve
(sorry it's in French)

Funny that the french wikipedia doesn't report the same amount than the english one.

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January 05, 2014, 02:43:36 PM
 #7326

Global qty of gold in the world ~ 30,562,500 kg
Global qty of BTC in the world ~ 21,000,000

So 1kg ~ 1 BTC makes some sense. Even 1.455 kg/BTC  Smiley



That would put the market capital of bitcoins and gold at equal levels, but I do not see any reason they would need to be equal? Once the powers that be and every body else in the world realizes the advantages bitcoins offer over gold, we could see bitcoin replace the market capital of gold. Someday you might be able to buy 100 kg of gold for a bitcoin, and the only people who do that are going to be jewelry makers and electronics makers.

Use CoinBR to trade bitcoin stocks: CoinBR.com

The best place for betting with bitcoin: BitBet.us
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January 05, 2014, 02:51:07 PM
 #7327


That would put the market capital of bitcoins and gold at equal levels, but I do not see any reason they would need to be equal? Once the powers that be and every body else in the world realizes the advantages bitcoins offer over gold, we could see bitcoin replace the market capital of gold. Someday you might be able to buy 100 kg of gold for a bitcoin, and the only people who do that are going to be jewelry makers and electronics makers.

I didn't realize that my remark could be understood as pessimistic Smiley

It is my understanding that, entering unknown realms, bitcoin needs references for its capitalization to make sense to anyone.

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molecular
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January 05, 2014, 02:57:23 PM
 #7328

Global qty of gold in the world ~ 30,562,500 kg
Global qty of BTC in the world ~ 21,000,000

So 1kg ~ 1 BTC makes some sense. Even 1.455 kg/BTC  Smiley

Is the global quantity of mined gold really only around 30 000 metric tonnes? That doesn't seem right..

Did some research a while back and came up with 160 000 tons of gold and 775 000 tons of silver existing above ground.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
molecular
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January 05, 2014, 02:58:19 PM
 #7329

Global qty of gold in the world ~ 30,562,500 kg
Global qty of BTC in the world ~ 21,000,000

So 1kg ~ 1 BTC makes some sense. Even 1.455 kg/BTC  Smiley



That would put the market capital of bitcoins and gold at equal levels, but I do not see any reason they would need to be equal? Once the powers that be and every body else in the world realizes the advantages bitcoins offer over gold, we could see bitcoin replace the market capital of gold. Someday you might be able to buy 100 kg of gold for a bitcoin, and the only people who do that are going to be jewelry makers and electronics makers.

And maybe some hopelessly nostalgic gold bugs.

EDIT: I might do it, just for nostalgia.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
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January 05, 2014, 03:19:46 PM
 #7330

Global qty of gold in the world ~ 30,562,500 kg
Global qty of BTC in the world ~ 21,000,000

So 1kg ~ 1 BTC makes some sense. Even 1.455 kg/BTC  Smiley

Is the global quantity of mined gold really only around 30 000 metric tonnes? That doesn't seem right..

Did some research a while back and came up with 160 000 tons of gold and 775 000 tons of silver existing above ground.


160000 ton is 145 M kg, so 6.9kgAU/BTC Smiley

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January 05, 2014, 03:33:06 PM
 #7331

Yes, the gold bugs seem to be slowly (or quickly - depending on your perspective) coming around. I was very impressed that James Turk of GoldMoney, is now a strong bitcoin advocate, and even investing in btc infrastructure projects. Pretty amazing to see.
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January 05, 2014, 04:04:31 PM
 #7332

cypherdoc come back! we will reach gold parity again soon!

No worries, I never left. BTW,

Gold collapsing. Bitcoin UP.
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January 05, 2014, 05:33:49 PM
 #7333

cypherdoc come back! we will reach gold parity again soon!

No worries, I never left. BTW,

Gold collapsing. Bitcoin UP.

Yes:

Gold collapsing to 250.-

http://www.dasgelbeforum.de.org/forum_entry.php?id=303145

@ELLI is probably the best elliott-wave analyst in western europe. He is the owner of that forum. Since he has a serious health problem and needs fulltime care, you can donate here, also with bitcoins:

http://www.dasgelbeforum.de.org/forum_entry.php?id=288000

"Staat nenne ich's, wo alle Gifttrinker sind, Gute und Schlimme: Staat, wo alle sich selber verlieren, Gute und Schlimme:
Staat, wo der langsame Selbstmord aller – »das Leben« heisst."
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January 05, 2014, 08:12:00 PM
 #7334

Global qty of gold in the world ~ 30,562,500 kg
Global qty of BTC in the world ~ 21,000,000

So 1kg ~ 1 BTC makes some sense. Even 1.455 kg/BTC  Smiley



That would put the market capital of bitcoins and gold at equal levels, but I do not see any reason they would need to be equal? Once the powers that be and every body else in the world realizes the advantages bitcoins offer over gold, we could see bitcoin replace the market capital of gold. Someday you might be able to buy 100 kg of gold for a bitcoin, and the only people who do that are going to be jewelry makers and electronics makers.

... it has been mentioned before somewhere that "gold silver shall be cast into the streets" ... ah yes here it is

Quote
These caves and rocks of the mountains will not furnish the desired protection from the wrath of this “evil day,” when the great waves of popular discontent are lashing and foaming against the mountains (kingdoms—Rev. 6:15-17; Psa. 46:3); and the time will come when men “shall cast their silver into the streets, and their gold shall be as though it were unclean [margin]: their silver and their gold shall not be able to deliver them in the day of the wrath of the Lord.

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January 05, 2014, 08:34:48 PM
 #7335

Global qty of gold in the world ~ 30,562,500 kg
Global qty of BTC in the world ~ 21,000,000

So 1kg ~ 1 BTC makes some sense. Even 1.455 kg/BTC  Smiley

Is the global quantity of mined gold really only around 30 000 metric tonnes? That doesn't seem right..

Did some research a while back and came up with 160 000 tons of gold and 775 000 tons of silver existing above ground.


160000 ton is 145 M kg, so 6.9kgAU/BTC Smiley

a ton is 1000 kg where I live. Should've said "metric ton"?

EDIT: so: 7.6 kgAU/BTC Smiley

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January 05, 2014, 08:51:01 PM
 #7336

Global qty of gold in the world ~ 30,562,500 kg
Global qty of BTC in the world ~ 21,000,000

So 1kg ~ 1 BTC makes some sense. Even 1.455 kg/BTC  Smiley

Is the global quantity of mined gold really only around 30 000 metric tonnes? That doesn't seem right..

Did some research a while back and came up with 160 000 tons of gold and 775 000 tons of silver existing above ground.


160000 ton is 145 M kg, so 6.9kgAU/BTC Smiley

a ton is 1000 kg where I live. Should've said "metric ton"?


I asked Google. People should really stop using all these retarded systems. Where I'm from an ounce is 100 gram and a pound is 500 gram but countries that aren't yet ready for the metric system have very weird quantities. Therefore I learned to ask Google but apparently that fails too sometimes.

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January 05, 2014, 08:51:44 PM
 #7337

Global qty of gold in the world ~ 30,562,500 kg
Global qty of BTC in the world ~ 21,000,000

So 1kg ~ 1 BTC makes some sense. Even 1.455 kg/BTC  Smiley

Is the global quantity of mined gold really only around 30 000 metric tonnes? That doesn't seem right..

Did some research a while back and came up with 160 000 tons of gold and 775 000 tons of silver existing above ground.


160000 ton is 145 M kg, so 6.9kgAU/BTC Smiley

a ton is 1000 kg where I live. Should've said "metric ton"?

EDIT: so: 7.6 kgAU/BTC Smiley


What is the total amount of gold above ground in mega-troy-ounces? This metric tonne stuff, it must be constructed to keep the good people in the dark. Manipulation!
flynn
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January 05, 2014, 08:53:05 PM
 #7338

maybe it's about Kibigrams ?

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January 05, 2014, 08:56:12 PM
 #7339

in weight equal to the amount of #2 bituminous coal necessary to drive a steam engine of the improved Newcomen design a distance of three tightly stretched ox hides

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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January 05, 2014, 09:00:59 PM
 #7340

in weight equal to the amount of #2 bituminous coal necessary to drive a steam engine of the improved Newcomen design a distance of three tightly stretched ox hides

Hey, that is the British Thermal Unit at five o'clock.

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