How the Winklevoss Twins Found Vindication in a Bitcoin Fortune

Post by loceng » Tue, Dec 19, 2017, 10:51 PM UTC

pingec wrote: post #95

sytelus wrote: post #74

Earlier quoted context omitted.

That's quite a balony. - Both are in fixed quantity so none is more rare than other. - Gold has practical use in industry which puts lower bound on its value. BTC has no lower bound. - Gold is exchangeable virtually in any country and any culture regardless of how technologically advanced that society is. - Thousands of years of history has proven that humans have almost natural lust for this shiny metal and it gets…

One disadvantage of gold I can think of is you cannot hide it in your head.

Post by keypress » Tue, Dec 19, 2017, 10:53 PM UTC

pingec wrote: post #95

sytelus wrote: post #74

Earlier quoted context omitted.

That's quite a balony. - Both are in fixed quantity so none is more rare than other. - Gold has practical use in industry which puts lower bound on its value. BTC has no lower bound. - Gold is exchangeable virtually in any country and any culture regardless of how technologically advanced that society is. - Thousands of years of history has proven that humans have almost natural lust for this shiny metal and it gets…

One disadvantage of gold I can think of is you cannot hide it in your head.

Post by dahdum » Tue, Dec 19, 2017, 10:54 PM UTC

bradleyjg wrote: post #89

dahdum wrote: post #43

Earlier quoted context omitted.

"So I'd agree that the sum of all e-coins will surpass gold, but I see no reason for Bitcoin to do it alone." We could pick any number of gold-like commmodities, but like Bitcoin, gold has had a history of large expenditures to acquire it. Both are buoyed by that past. So many tokens and blockchains are coming out with incremental improvements or niche capabilities, but in the end I think consolidation of market cap…

We could pick any number of gold-like commmodities, but like Bitcoin, gold has had a history of large expenditures to acquire it. Both are buoyed by that past. I would have put that the other way around ("like gold, bitcoin ...") but even so the scale of the relevant histories are not even in the same ballpark. Bitcoin has had held value for seven years. Gold for more than seven thousand years.

Post by victor106 » Tue, Dec 19, 2017, 10:55 PM UTC

sytelus wrote: post #98

milcron wrote: post #91

Earlier quoted context omitted.

> Both are in fixed quantity so none is more rare than other. There is 80% more gold aboveground today than there was in 1980.

Gold exploration had been going on for thousands of years which means every new piece of gold is being discovered at much higher cost. So while supply increases, prices don't go down.

Post by cdolan » Tue, Dec 19, 2017, 10:56 PM UTC

sytelus wrote: post #98

milcron wrote: post #91

Earlier quoted context omitted.

> Both are in fixed quantity so none is more rare than other. There is 80% more gold aboveground today than there was in 1980.

Gold exploration had been going on for thousands of years which means every new piece of gold is being discovered at much higher cost. So while supply increases, prices don't go down.