Bitcoin Forum
March 28, 2024, 11:44:50 AM *
News: Latest Bitcoin Core release: 26.0 [Torrent]
 
   Home   Help Search Login Register More  
Poll
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
2.  no

Pages: « 1 ... 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 [338] 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 ... 1557 »
  Print  
Author Topic: Gold collapsing. Bitcoin UP.  (Read 2032125 times)
justusranvier
Legendary
*
Offline Offline

Activity: 1400
Merit: 1006



View Profile
November 23, 2013, 06:27:19 AM
 #6741

Will it ever be possible to buy 2 bitcoins with an ounce of gold again?

1711626290
Hero Member
*
Offline Offline

Posts: 1711626290

View Profile Personal Message (Offline)

Ignore
1711626290
Reply with quote  #2

1711626290
Report to moderator
1711626290
Hero Member
*
Offline Offline

Posts: 1711626290

View Profile Personal Message (Offline)

Ignore
1711626290
Reply with quote  #2

1711626290
Report to moderator
1711626290
Hero Member
*
Offline Offline

Posts: 1711626290

View Profile Personal Message (Offline)

Ignore
1711626290
Reply with quote  #2

1711626290
Report to moderator
"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
molecular
Donator
Legendary
*
Offline Offline

Activity: 2772
Merit: 1019



View Profile
November 23, 2013, 06:57:32 AM
 #6742

Will it ever be possible to buy 2 bitcoins with an ounce of gold again?



For the love of the flying spaghetti monster... this is madness!

People have been laughing at me since 2011 when I answered "at 1 oz gold / BTC, but only some" when being asked when I would sell.

People have stopped laughing and I'm reconsidering wether it'd really be the right thing to do Wink.


PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
marcus_of_augustus
Legendary
*
Offline Offline

Activity: 3920
Merit: 2347


Eadem mutata resurgo


View Profile
November 23, 2013, 07:11:42 AM
 #6743

Btc is gonna pass gold parity and no-one will hardly notice it will be gone that fast.

There is nothing so powerful as an idea who's time has arrived.

jojo69
Legendary
*
Offline Offline

Activity: 3122
Merit: 4271


diamond-handed zealot


View Profile
November 23, 2013, 07:13:07 AM
 #6744

sweet baby zombie jeebus

my pretty pretty precious...oh how I loved you

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.
cypherdoc (OP)
Legendary
*
Offline Offline

Activity: 1764
Merit: 1002



View Profile
November 23, 2013, 08:39:01 AM
 #6745

Btc is gonna pass gold parity and no-one will hardly notice it will be gone that fast.

There is nothing so powerful as an idea who's time has arrived.

That thunderclap is gonna rock the world.

And then gold will be forgotten, just like silver.
rpietila
Donator
Legendary
*
Offline Offline

Activity: 1722
Merit: 1036



View Profile
November 23, 2013, 09:03:31 AM
 #6746

Btc is gonna pass gold parity and no-one will hardly notice it will be gone that fast.

There is nothing so powerful as an idea who's time has arrived.

That thunderclap is gonna rock the world.

And then gold will be forgotten, just like silver.

The once allmighty gold is fast approaching 1% of my portfolio. From the above.




HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
Morbid
Legendary
*
Offline Offline

Activity: 1202
Merit: 1015



View Profile
November 23, 2013, 09:47:59 AM
 #6747

why you refer to price of gold as in oz? it might as well be in grams, kilos, tons. the price per weight value is irrelevant here. gold will always have value no matter how much 1btc is in relation to 1 oz.
marcus_of_augustus
Legendary
*
Offline Offline

Activity: 3920
Merit: 2347


Eadem mutata resurgo


View Profile
November 23, 2013, 10:09:54 AM
 #6748

why you refer to price of gold as in oz? it might as well be in grams, kilos, tons. the price per weight value is irrelevant here. gold will always have value no matter how much 1btc is in relation to 1 oz.

Good point ... I guess the only question left then is when do we switch the numeraire from tOZ/BTC to BTC/tOZ then right? ... that is when the psychological shift to unit of account occurs and btc becomes 'money'.

oakpacific
Hero Member
*****
Offline Offline

Activity: 784
Merit: 1000


View Profile
November 23, 2013, 10:15:51 AM
 #6749

why you refer to price of gold as in oz? it might as well be in grams, kilos, tons. the price per weight value is irrelevant here. gold will always have value no matter how much 1btc is in relation to 1 oz.

Because that's the unit they use in the gold market.

Yes, gold will always have value, as copper, nickel, and many other metals, but we are talking about speculative value here.


https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
oakpacific
Hero Member
*****
Offline Offline

Activity: 784
Merit: 1000


View Profile
November 23, 2013, 10:32:22 AM
Last edit: November 23, 2013, 10:48:13 AM by oakpacific
 #6750

It just occurs to me that divisibility is one of Bitcoin's great features as a investment, you can't normally buy fractional share on the stock market, or a fraction of an ounce of gold/silver, so when a bubble is forming small time investors have to avoid buying as they risk losing dearly in a market crash, but even when BTC price reaches $10000/BTC you can still buy 0.001 BTC and take advantage of the potential rally continuation, as the most you can lose is only $10, this would potentially make Bitcoin the first product to be investable, and investable rationally by everyone, even really deprived people.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
marcus_of_augustus
Legendary
*
Offline Offline

Activity: 3920
Merit: 2347


Eadem mutata resurgo


View Profile
November 23, 2013, 11:15:06 AM
 #6751

It just occurs to me that divisibility is one of Bitcoin's great features as a investment, you can't normally buy fractional share on the stock market, or a fraction of an ounce of gold/silver, so when a bubble is forming small time investors have to avoid buying as they risk losing dearly in a market crash, but even when BTC price reaches $10000/BTC you can still buy 0.001 BTC and take advantage of the potential rally continuation, as the most you can lose is only $10, this would potentially make Bitcoin the first product to be investable, and investable rationally by everyone, even really deprived people.

... what you mean like real money?! ... like that normal people can actually work and save in without being ripped off and corralled into "pension schemes", high-yield debt-instruments, shock markets and etc before being eaten alive by Wall St. sharks?

God, what a concept.

oakpacific
Hero Member
*****
Offline Offline

Activity: 784
Merit: 1000


View Profile
November 23, 2013, 11:33:07 AM
 #6752

It just occurs to me that divisibility is one of Bitcoin's great features as a investment, you can't normally buy fractional share on the stock market, or a fraction of an ounce of gold/silver, so when a bubble is forming small time investors have to avoid buying as they risk losing dearly in a market crash, but even when BTC price reaches $10000/BTC you can still buy 0.001 BTC and take advantage of the potential rally continuation, as the most you can lose is only $10, this would potentially make Bitcoin the first product to be investable, and investable rationally by everyone, even really deprived people.

... what you mean like real money?! ... like that normal people can actually work and save in without being ripped off and corralled into "pension schemes", high-yield debt-instruments, shock markets and etc before being eaten alive by Wall St. sharks?

God, what a concept.
 

PMs are real money, but they are like that nation under God, indivisible.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
BitcoinAshley
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250



View Profile
November 23, 2013, 05:47:06 PM
 #6753

It just occurs to me that divisibility is one of Bitcoin's great features as a investment, you can't normally buy fractional share on the stock market, or a fraction of an ounce of gold/silver, so when a bubble is forming small time investors have to avoid buying as they risk losing dearly in a market crash, but even when BTC price reaches $10000/BTC you can still buy 0.001 BTC and take advantage of the potential rally continuation, as the most you can lose is only $10, this would potentially make Bitcoin the first product to be investable, and investable rationally by everyone, even really deprived people.


Yes, the accessibility of Bitcoin is very important to its success. A few years ago I toyed with the idea of dividend-yielding investments and a few other things, but with the amount of money I was looking to invest (beans) the fees just wouldn't make it worth it. With bitcoin, it was much easier for me to start out investing teeny tiny amounts of money every week. Then, my tiny investment turned into gigantic amounts of money. Of course, later adopters won't see such a massive ROI, but they can still participate in its appreciation until it reaches a more stable adoption level, and after that, they can participate in sound money which is good for everyone. The barrier to entry is a powerful force as we see in socialist .gov-controlled markets i.e. here in the U.S.
The barrier to entry of bitcoin still involves at least a mobile device and internet, but it is much smaller than many markets currently in existence.
cypherdoc (OP)
Legendary
*
Offline Offline

Activity: 1764
Merit: 1002



View Profile
November 23, 2013, 06:13:42 PM
 #6754

It just occurs to me that divisibility is one of Bitcoin's great features as a investment, you can't normally buy fractional share on the stock market, or a fraction of an ounce of gold/silver, so when a bubble is forming small time investors have to avoid buying as they risk losing dearly in a market crash, but even when BTC price reaches $10000/BTC you can still buy 0.001 BTC and take advantage of the potential rally continuation, as the most you can lose is only $10, this would potentially make Bitcoin the first product to be investable, and investable rationally by everyone, even really deprived people.

And vice versa.

Unlike a stock or bond , which is for the most part illiquid, you can hold bitcoin as an "investment" right up to the moment you want to spend it on something useful. Take the Gyft card as an example. Hold Btc, let it appreciate, then buy at the most efficient time with a small fraction of your holdings.

I've been doing this with my vpn service. Put 0.8 btc on my phone at the beginning of the year and declined to pay for a year's worth of service and opted instead for monthly service knowing the value of the btc was going to be going up. Whereas I had about $80 of purchasing power at the time, now I have about $640.

Only with bitcoin.
bitcoinpsftp
Member
**
Offline Offline

Activity: 84
Merit: 10


View Profile
November 23, 2013, 08:19:27 PM
 #6755

Wow... bitcoin is at it again.  Will we sit it hit 1,000 USD on USD based markets?  Or will someone dump hard right before it gets there?  There's much money to be made dumping, and then buying everything back at lower prices.  We'll have to wait and see.

bassclef
Hero Member
*****
Offline Offline

Activity: 924
Merit: 1000



View Profile
November 23, 2013, 11:42:42 PM
 #6756

Wow... bitcoin is at it again.  Will we sit it hit 1,000 USD on USD based markets?  Or will someone dump hard right before it gets there?  There's much money to be made dumping, and then buying everything back at lower prices.  We'll have to wait and see.

Dumping is much riskier now. It used to happen quite a bit, sometimes accompanying a DDOS, with varying degrees of success. Now, it takes thousands of coins to move the market, and if you can't buy back lower (plus fees, slippage), then the manipulator is poised to lose big.
Adrian-x
Legendary
*
Offline Offline

Activity: 1372
Merit: 1000



View Profile
November 24, 2013, 12:05:06 AM
 #6757

why you refer to price of gold as in oz? it might as well be in grams, kilos, tons. the price per weight value is irrelevant here. gold will always have value no matter how much 1btc is in relation to 1 oz.

And Bitcoin may as well be mBTC
you are correct but even metric nations publish the price per 1oz. Having known gold for its colour all my life and never thinking people actually bought it, 1oz is the universal unit when the price is mentioned, so yes this will be huge news.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
oakpacific
Hero Member
*****
Offline Offline

Activity: 784
Merit: 1000


View Profile
November 24, 2013, 02:40:17 AM
 #6758

It just occurs to me that divisibility is one of Bitcoin's great features as a investment, you can't normally buy fractional share on the stock market, or a fraction of an ounce of gold/silver, so when a bubble is forming small time investors have to avoid buying as they risk losing dearly in a market crash, but even when BTC price reaches $10000/BTC you can still buy 0.001 BTC and take advantage of the potential rally continuation, as the most you can lose is only $10, this would potentially make Bitcoin the first product to be investable, and investable rationally by everyone, even really deprived people.


Yes, the accessibility of Bitcoin is very important to its success. A few years ago I toyed with the idea of dividend-yielding investments and a few other things, but with the amount of money I was looking to invest (beans) the fees just wouldn't make it worth it. With bitcoin, it was much easier for me to start out investing teeny tiny amounts of money every week. Then, my tiny investment turned into gigantic amounts of money. Of course, later adopters won't see such a massive ROI, but they can still participate in its appreciation until it reaches a more stable adoption level, and after that, they can participate in sound money which is good for everyone. The barrier to entry is a powerful force as we see in socialist .gov-controlled markets i.e. here in the U.S.
The barrier to entry of bitcoin still involves at least a mobile device and internet, but it is much smaller than many markets currently in existence.

And the snowball will get bigger and bigger, until no one in the world is left uninvested, then people will make a shocking discovery......"I have this, everyone has this, why don't we use it as a currency?"

That's the plan. Wink

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
Melbustus
Legendary
*
Offline Offline

Activity: 1722
Merit: 1003



View Profile
November 24, 2013, 04:25:02 AM
 #6759


And the snowball will get bigger and bigger, until no one in the world is left uninvested, then people will make a shocking discovery......"I have this, everyone has this, why don't we use it as a currency?"

That's the plan. Wink


Precisely. Bitcoin as a speculative asset is the ultimate currency trojan-horse. :-)

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
smoothie
Legendary
*
Offline Offline

Activity: 2492
Merit: 1473


LEALANA Bitcoin Grim Reaper


View Profile
November 24, 2013, 06:32:41 AM
 #6760

Next milestone: Gold/BTC parity.  Grin

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████æ   
  ,████²█████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       Ñ███████████`      ███████
███████         ╩██████Ñ         ███████
███████    ▐▄     ²██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                   ²²²                 
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.                  History of Monero development Visualization ★☆ .
LEALANA BITCOIN GRIM REAPER SILVER COINS.
 
Pages: « 1 ... 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 [338] 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 ... 1557 »
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!