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trendal
J♠



Registered: 04/17/01
Posts: 20,815
Loc: Ontario, Canada
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Bitcoin is now worth more than gold
#24133219 - 03/03/17 09:38 AM (6 years, 10 months ago) |
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I'm lucky I got out of one of them and into the other! The question is: where does bitcoin go from here? Will we see the day where it is a valid alternative money?
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Once, men turned their thinking over to machines in the hope that this would set them free. But that only permitted other men with machines to enslave them.
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qman
Stranger

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Re: Bitcoin is now worth more than gold [Re: trendal]
#24133225 - 03/03/17 09:41 AM (6 years, 10 months ago) |
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Quote:
trendal said: I'm lucky I got out of one of them and into the other! The question is: where does bitcoin go from here? Will we see the day where it is a valid alternative money?
I think they're going to have Bitcoin start trading on the exchanges in ETF form, that will destroy it.
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trendal
J♠



Registered: 04/17/01
Posts: 20,815
Loc: Ontario, Canada
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Re: Bitcoin is now worth more than gold [Re: qman]
#24133230 - 03/03/17 09:43 AM (6 years, 10 months ago) |
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How so?
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Once, men turned their thinking over to machines in the hope that this would set them free. But that only permitted other men with machines to enslave them.
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koods
Ribbit



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Re: Bitcoin is now worth more than gold [Re: trendal]
#24133235 - 03/03/17 09:46 AM (6 years, 10 months ago) |
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Bitcoin is a fiat currency that doesn't have a government guaranteeing its value. It won't last
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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qman
Stranger

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Re: Bitcoin is now worth more than gold [Re: trendal]
#24133240 - 03/03/17 09:50 AM (6 years, 10 months ago) |
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Quote:
trendal said: How so?
Bitcoin has been allowed to trade freely on just the existing supply of coins and demand, when it goes on the exchanges the boys on Wall Street will start using their usual tactics of naked shorting (selling units of coin that don't even exist) to drive the price down at will.
This will most likely start discouraging the existing holders of Bitcoin which will lead to even more selling and then the rest is history.
This doesn't mean that Bitcoin will not exist, but the pricing on the unit will no longer be a natural market, the crooks will now control the pricing of it, I would imagine TPTB do NOT want to see Bitcoin to be a real alternative currency.
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BANANA.MAN
Turd Ferguson


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Re: Bitcoin is now worth more than gold [Re: trendal] 1
#24133246 - 03/03/17 09:54 AM (6 years, 10 months ago) |
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How can bitcoin be worth more than gold?
You cant weigh bit coin.
How can you compare the values? How many bitcoins = how much gold?
If you say 1 btc = 1mg gold then yeah for sure BTC is worth more but if you say 1 btc = 1 ton of gold then gold is worth more. Who decides? Nobody because you cant compare two things if there is no common method of measurement.
Could you explain it to me please? Im sure there is an answer but im puzzled.
Edited by BANANA.MAN (03/03/17 09:55 AM)
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koods
Ribbit



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Re: Bitcoin is now worth more than gold [Re: BANANA.MAN]
#24133253 - 03/03/17 09:58 AM (6 years, 10 months ago) |
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1 bitcoin will buy one ounce of gold .
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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spirit_shadow
Feature not a bug



Registered: 08/15/11
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Re: Bitcoin is now worth more than gold [Re: koods]
#24133264 - 03/03/17 10:03 AM (6 years, 10 months ago) |
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Will gold retailers trade an once of gold for 1 bitcoin though?
-------------------- ERROR 418 IM A TEAPOT.....(this account is automated, all posts related to illegal activities or advice thereof are strictly from numerous online sites and are for informational purposes only)- Circa 2011 Ban lotto
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BANANA.MAN
Turd Ferguson


Registered: 01/11/15
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Re: Bitcoin is now worth more than gold [Re: koods]
#24133268 - 03/03/17 10:04 AM (6 years, 10 months ago) |
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So if you trade btc in for gold you are getting a worse deal than if you traded the same amount of btc for money? Because you only get an ounce per bitcoin but one bitcoin is worth more than an ounce? Am i understanding this correctly?
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trendal
J♠



Registered: 04/17/01
Posts: 20,815
Loc: Ontario, Canada
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Re: Bitcoin is now worth more than gold [Re: BANANA.MAN]
#24133297 - 03/03/17 10:19 AM (6 years, 10 months ago) |
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The difference is still comparatively small - like a percent or so.
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Once, men turned their thinking over to machines in the hope that this would set them free. But that only permitted other men with machines to enslave them.
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psi
TOAST N' JAM


Registered: 09/05/99
Posts: 31,456
Loc: 613
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Re: Bitcoin is now worth more than gold [Re: koods]
#24133304 - 03/03/17 10:21 AM (6 years, 10 months ago) |
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Quote:
koods said: It won't last
That's what I thought when I sold mine for $10-20.
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natedawgnow
Rocky mountain hood rat



Registered: 02/09/15
Posts: 8,939
Loc: ation
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Re: Bitcoin is now worth more than gold [Re: BANANA.MAN]
#24133315 - 03/03/17 10:25 AM (6 years, 10 months ago) |
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Quote:
BANANA.MAN said: So if you trade btc in for gold you are getting a worse deal than if you traded the same amount of btc for money? Because you only get an ounce per bitcoin but one bitcoin is worth more than an ounce? Am i understanding this correctly?
This isn't the first time bitcoin has been in the 1000+ dollar range.
Gold hovers around 1300 usd per troy oz (30 grams). Bitcoin is currently at 1270 usd so 1 bitcoin is worth the same amount of usd as 1 troy oz of gold
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tyrannicalrex
Strange R



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Loc: subtropics
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Re: Bitcoin is now worth more than gold [Re: psi] 1
#24133330 - 03/03/17 10:35 AM (6 years, 10 months ago) |
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Quote:
psi said:
Quote:
koods said: It won't last
That's what I thought when I sold mine for $10-20.
OUCH!
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DieCommie

Registered: 12/11/03
Posts: 29,258
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Re: Bitcoin is now worth more than gold [Re: spirit_shadow]
#24133340 - 03/03/17 10:40 AM (6 years, 10 months ago) |
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Quote:
spirit_shadow said: Will gold retailers trade an once of gold for 1 bitcoin though?
Yes, many places including precious metal dealers, accept bitcoin.
When I mined bitcoins I bought gold an silver with them from this place; https://www.amagimetals.com/
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DieCommie

Registered: 12/11/03
Posts: 29,258
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Re: Bitcoin is now worth more than gold [Re: DieCommie] 4
#24133371 - 03/03/17 10:51 AM (6 years, 10 months ago) |
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For some nostalgia, here is my old main mining rig. This must be from 2012 or so.
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Niffla



Registered: 06/09/08
Posts: 46,481
Loc: Texas
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Re: Bitcoin is now worth more than gold [Re: DieCommie]
#24133399 - 03/03/17 11:02 AM (6 years, 10 months ago) |
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I had one last year when it was around $300
In fact I think it was slightly under $300
Like a week or two ago that shit was at $1,200
that shit is mind boggling
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HAIL OUR NEW OTD KING
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zZZz
jesus


Registered: 12/28/07
Posts: 33,478
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Re: Bitcoin is now worth more than gold [Re: Niffla]
#24133511 - 03/03/17 11:52 AM (6 years, 10 months ago) |
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All the money is temporary anyway
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Crazy_Horse
I’m Rick James, bitch!


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Posts: 13,283
Loc: Hampsterdam
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Re: Bitcoin is now worth more than gold [Re: koods]
#24133513 - 03/03/17 11:53 AM (6 years, 10 months ago) |
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Quote:
koods said: Bitcoin is a fiat currency that doesn't have a government guaranteeing its value. It won't last
I used to drive a fiat.
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Brian Jones
Club 27



Registered: 12/18/12
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Re: Bitcoin is now worth more than gold [Re: Niffla]
#24133517 - 03/03/17 11:56 AM (6 years, 10 months ago) |
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I'm not an expert nor even an educated observer but I read some money guru (maybe Buffett, I'm not sure) say that there will be a digital currency in the future, but it might night be bitcoin.
-------------------- "The Rolling Stones will break up over Brian Jones' dead body" John Lennon I don't want no commies in my car. No Christians either. The worst thing about corruption is that it works so well,
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Connoisseur

Registered: 05/13/11
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Re: Bitcoin is now worth more than gold [Re: trendal]
#24133555 - 03/03/17 12:16 PM (6 years, 10 months ago) |
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wow, too bad i never took the time to get into using bitcoin
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