Is the price of gold higher than Bitcoin?

forgxtea said:
It seems to me that comparing gold and bitcoin in general on the market is very stupid because bitcoin is a digital currency that is not backed up by anything and will soon have no weight in the financial market. It's only a matter of time here.
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I'm not sure where this user's account is going, but anyway.

@forgxtea, it really depends whether you only value physical attributes over digital etc. If so you'd have to dismiss any value assigned to intangible assets, for example honesty, love, perserverance, knowledge, goodwill etc or at least assign them lesser value. ;)
 
wat tho? btc killed an ounce a long time ago and got to kilo parity at its peak, was one of my better trades.
 
slavaja said:
I had this thought last night how the price of gold is unfairly compared to Bitcoin. I think we need to recapitalize gold to give it a fair comparison because way hold is priced is too diluted.

There is 21,000,000 units of Bitcoin and roughly 170,000 tonnes of gold ever mined. So we need to convert 170,000 tonnes into 21,000,000 units of gold which gives us roughly 8kgs per unit. Now 8kgs of gold is roughly $416,000.
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This is a very interesting idea to raise! I never thought of it this way...

This tells us Bitcoin can go to 400 k and beyond. This way, the 200+ k level on the logarithmic scale feels closer. VERY close.
So, 1 million $ Bitcoin is possible. By then, gold will be 3,000-5,000 $ per ounce.

The current price of gold and crypto are low due to the correction (which I think will drag them lower). Let's see how we go through this winter with the gas prices, oil prices, food prices 'n' all, then Bitcoin and gold can start rising again.
 
JohnnyBravo300 said:
The correlation gets further apart everyday. Gold still doing well.
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Gold should be worth 10 k USD per ounce at least, considering the economic madhouse they've put us through.

I think the total gold quantity in the hands of the BRICs could serve as the "blocks" backing their new currency, which could be a fully digital one. I mean, they could create a fully gold-backed digital currency, which will then be divisible into smaller units (similarly to Bitcoin). The solid gold will be reflected in the blockchain. No-one can create more, but they can mine more.

This could be a powerful competitor to Bitcoin, if it had the same (prolly slightly improved) principles, just that it would be 100% fully backed by gold. It mustn't inflate. The price of gold will keep going up and units will be simply "chopped" into smaller and smaller divisions. Countries like Honduras won't even be able to own a hundredth of a coin.
 
dozerz said:
gold buying opportunity coming up?

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At 1,300 $.

Gold is more bearish than Bitcoin.

Just see these:
- gold is bearish
- US stock market crash is expected (yeah, right... how many times we've heard that: "imminent stock market crash")

Do you think crypto will just "deny" the odds and keep rising?

No. I think Bitcoin will go down to 10 k or lower.

If we think of a really really big SHTF due to the Ukraine war-Europe energy crisis-inflation-food crisis, then I can imagine all of them to go down: gold, fiat, crypto.
PHYSICALs with intrinsic value (besides hookers) are going to rise in price (food, construction materials, technical equipment, fuel and energy sources). Hookers are already 25% cheaper - there will be a great rental opportunity this winter when they start freezing.
 
Weve been buying alot of extra storeable food every week and stocking up on feed for the chickens and turkeys, the dogs and cats too. It will be the same this week and with these two new shipping containers we have much more extra room now.

Prices just going up and with ham and beans being the best investment last year i dont guess that will change. Might as well get as much as i can now before it gets even more expensive or if anything gets weird. (Weirder than it already is)

Pms are still a good performer this year compared to most things so thats where my cash is going for the most part. Theres nowhere else to put it that isnt gambling and this downturn could go on for years. To each his own but for me its a no brainer.

I'm almost off work for the winter again so ive been limiting my purchases and saving more cash recently but i would like to buy some singles of the various crypto silver rounds just for fun. This last order i made is 4 weeks out...

Maybe the 2030s will look better!
 
JohnnyBravo300 said:
Weve been buying alot of extra storeable food every week and stocking up on feed for the chickens and turkeys, the dogs and cats too. It will be the same this week and with these two new shipping containers we have much more extra room now.

Prices just going up and with ham and beans being the best investment last year i dont guess that will change. Might as well get as much as i can now before it gets even more expensive or if anything gets weird. (Weirder than it already is)

Pms are still a good performer this year compared to most things so thats where my cash is going for the most part. Theres nowhere else to put it that isnt gambling and this downturn could go on for years. To each his own but for me its a no brainer.

I'm almost off work for the winter again so ive been limiting my purchases and saving more cash recently but i would like to buy some singles of the various crypto silver rounds just for fun. This last order i made is 4 weeks out...

Maybe the 2030s will look better!
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We're already screwed in the cities if trying to be self-sufficient:

https://newatlas.com/health-wellbeing/lead-eggs-backyard-hens-urban-farming-soil-safety/

And it looks like there's even downward pressure on the drug-lords:

upload_2022-11-2_14-7-40.png
 
The Fed is expected to keep raising interest rates (some say to 5-7 %, even or, beyond) next year.

What do you expect to happen with cryptos and with the stock markets if interest rates keep rising? (my guess is the markets will go lower, while the demand for US dollars will rise due to higher yields and as an alternative to the weakening European currencies).
 
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