Gold & Crypto

[hexwin 4931]

 

What do you think should crypto be against gold or maybe gold and crypto work great together?

I don't see anything wrong in using both of them as Store of Value and as payment option.

There is also several tokens backed by real gold, and this proves that it can work in real life.

 

 

Edited October 19, 2019 by hexwin

[xBDT Script 4371]

Come on!

It's crypto, more precisely Bitcoin. 

I am not saying investing in gold is bad though. As long as you do not have fiat in the bank which will eventually lose the value overtime, you are fine.

[cryptokram 102]

Gold and crypto are two different things,

Gold is an investment also as it can't reproduce by people.

human uses them as jewelries and the price is going up slowly.

Cryptocurrency is an investment which we can't hold physically, this is currency!

So if FIAT will gone then GOLD = 0.01 BTC per gram? just like that!

[Glossy 615]

Both gold and crypto have its good and bad sides.

For crypto you don't have to have storage or pay for safe box.

For gold you don't depend on electricity and you don't have to have computer knowledge to sell it or buy it.

[cryptosix 1643]

Both are different, Gold has a stable price and dependent for some time, while Crypto can change in a hour or so to pump or dump. Gold prices are very low and they rise only some occasions, not all the time. People now a days moved from Gold to Crypto in order to make more profits.

[hexwin 4931]

Good article that talks more about connection that Gold and Crypto have,

and how it can benefit us who use this assets

https://cointelegraph.com/news/stablecoins-backed-by-precious-metals-how-do-they-work?utm_source=Telegram&utm_medium=social

Edited October 10, 2019 by hexwin

[lev 91]

Cryptocurrency value is unstable, on the other hand, Gold value is stable. Investing your money on something with stable value is not fun, cryptocurrency can offer more profit than gold, with higher risk than gold of course.

[Bills 583]

I have always seen gold as one of the most coveted, and bitcoin is more recent, it is barely 10 years old, instead gold is many years old, I think the only advantage that bitcoin has against gold is because transactions can be made of a lot of money with a not-so-expensive fee, however gold does not, you must have many permits to transfer it and it is heavy, which transport is complicated.

[Consignee 2395]

People are utlizing cryptocurrency for gold backed stable coin. I think it can be worked as sideways. For investment purpose, I would invest in crypto, gold will not give you great return as well as low risk too. In crypto, risk is high and chance of high return is there.

[hexwin 4931]

13 minutes ago, Apostlejustice said:

Gold has recently been an important leading indicator for Bitcoin (BTC). We have seen the price of Bitcoin react to movement in Gold. We do not know how real is this correlation and how much stage  but we know that correlation existed which alot of investors counted on to see when the price of Bitcoin is going to end next. Now Gold has run into a strong resistance at the 61.8% fib retracement level and is on the verge of potential trend reversal, it is reasonable to say that Bitcoin (BTC)could do the same? Most investors in the ctyptocurrency space it is either Gold or S&P 500 that they think Bitcoin had a positive correlation with. However at this point both are the verge of a sharp decline.

 

This post have been nothing but pure copy/paste plagiarism without posting original link

source article:

https://cryptodaily.co.uk/2019/10/could-a-trend-reversal-in-gold-mean-a-trend-reversal-in-bitcoin

Please avoid doing so, or you will end up on member report list

 

Quote

3. No plagiarism content without reference.

 

Edited October 4, 2019 by hexwin

[Madara 188]

Actually if we search the gold charts from 1900 years we will see that its almost identical with bitcoins but the sketchy thing is that after 3 bull runs the gold came back and never recovered which I doubt bitcoin will do it as its getting far away from being a bubble or being backed up by gold so good times ahead of us.

Still the safest investments remain in gold , land and probably bitcoin now.

[hexwin 4931]

Problem I find with gold and paper money is LIMIT you have by each country how much you can carry with yourself.

If they find that you are crossing border with more gold or cash you reported they will take it away from you

Edited October 5, 2019 by hexwin

[Sunn 7]

First both is demandable but I don't think the both is same. Because gold is hard but Bitcoin is just online virtual money. We cannot take the both same like. we can use both but we cannot different between that. 

[Grenbee 7]

I think it is a different version but it is similar to Bitcoin but in terms of price it cannot be compared with BTC.

[orangeC 26]

There is no doubt the bitcoin will replace gold in the future. Bitcoin already replaced gold in the mind of Millenials - the youth and entrepreneurs. Bitcoin is beating gold with a very high margin in terms of profits for the long-term investment

[Madara 188]

Both bitcoin and gold have similar charts so I would except another bull run in bitcoin which will be the biggest and then I don't know if we will have another one. Anyway the best investments right now are both gold and bitcoin and less altcoins.

[Kumar 260]

Both has somewhat same purpose but when you look at the investment vise, bitcoin has given and will be giving higher returns then gold.

[BitcoinCase 326]

2 minutes ago, bitcoworld said:

Well i like to explain it like that, 2000 Years ago you could probably mine daily Gold in Your garden. 100 Years ago probably in any small river around you but since we made so much mining since then the difficulty increased heavy and we have to mine deeper and it gets expensive. Pretty much this is why Gold is that much expensive right now. Bitcoin is designed on the same way Gold works with every 4 years you have a halving and the difficulty increasses everytime heavy. It gets harder and harder to mine Gold and prece icreasses tady. The key diffrence between Gold and Bitcoin is that Bitcoin is Limited to 21 Million and Gold exists in our hole Universe on probably a lot Planets and the most Asteroids.

Wow nice explanation there. Now someone speaks my language! There is so much more correlation between Bitcoin and Gold than people are aware of. When you research some statistical information and do some mathematics you find some very interesting similarities. Similarities that surely could not be by coincidence. 

[cryptosix 1643]

On 10/3/2019 at 4:53 AM, robelneo said:

I'll go for both and there's no harm for going on both, both are store of value and we all know we should not put all our eggs in one basket, it's important that you also diversify, both value goes up and down.

So, you put more eggs in more baskets? Does Gold price will jump just like Bitcoin? I have seen Gold price jumped in last 2 to 3 monhs here, but Bitcoin price jumps to more that is in hundreds or thousands.

Does Gold prices will get down like Bitcoi price dropped?

[BitcoinCase 326]

6 minutes ago, bitcoworld said:

I researched a lot because of this correlation between Gold and Bitcoin. Also iam sure Satoshi studyd the Gold very well and was always the idea behind to kinda Digitalize the Gold. Bitcoin is nothing else then the digitalization of Gold and if people wake up and adoption goes as it started we could see a Bitcoin Standard sooner then later

Well I will tell you this...... if the Bitcoin Market Cap was equal to the Market Cap of Gold........then 1 Bitcoin is worth roughly around $475K+-  or about 20 lbs. of Gold! I haven't done the math in a while but it's been around that price as it would correlate completey with Gold if they had the same Market Cap. If Bitcoin becomes the global currency than we would be talking about a value of some $4-5 Million per coin. These are 2 of the reasons I am invested heavily into Bitcoin as the potential is beyond anything we've ever seen. 

[BitcoinCase 326]

Sounds about right to me. I wouldn't argue against any of what you said. 

[Slavi 11287]

No wonder Bitcoin is called digital gold, this statement is completely justified and there are some important aspects between them, this is growth and long-term investments, and it is more convenient to trade bitcoin and you can even use a small amount for this

[hexwin 4931]

1 hour ago, bitcoworld said:

Wow this sounds very familiar to that what i researched. Did you researched that the 21 Million Bitcoin are very much in correlation with the total Gold Suppy which is mined and not mined are around 240 Metric Tons and also i think that CHarlie Lee the creator of Litecoin was one of the first people which understood this fact as he created Litecoin on the same correlation like Bitcoin to Gold just he made Litecoin correlation to Silver pretty much identically as we have 74 Million Litecoin and around 840 Metic Tons of Silver if iam not wrong.

Some smart people where doing some deep thinking when they designed Bitcoin in first place.
No number is added by accident, so nice observation from your side 😉

[MyThoughts 514]

On 01.10.2019 at 22:28, hexwin said:

What do you think should crypto be against gold or maybe gold and crypto work great together?

I don't see anything wrong in using both of them as Store of Value and as payment option.

There is also several tokens backed by real gold, and this proves that it can work in real life.

Yes, I think they will exist together.
I doubt the future of the fiat currency, but gold and cryptocurrency will remain.
After all, if someone wants to keep a certain amount incognito, he will be able to store it in gold and other jewelry.

[Satoshi Nakamoto 6]

2 hours ago, BitcoinCase said:

Well I will tell you this...... if the Bitcoin Market Cap was equal to the Market Cap of Gold........then 1 Bitcoin is worth roughly around $475K+-  or about 20 lbs. of Gold! I haven't done the math in a while but it's been around that price as it would correlate completey with Gold if they had the same Market Cap. If Bitcoin becomes the global currency than we would be talking about a value of some $4-5 Million per coin. These are 2 of the reasons I am invested heavily into Bitcoin as the potential is beyond anything we've ever seen. 

Nice point of view 👍