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4.78 oz of gold or one bitcoin?

renman95renman95 Posts: 7,037 ✭✭✭✭✭
in Precious Metals

$6,114.97
;-)

Comments

  • bronco2078bronco2078 Posts: 10,244 ✭✭✭✭✭

    gold

  • ashelandasheland Posts: 23,231 ✭✭✭✭✭
    edited October 31, 2017 6:42AM

    I'd personally rather have just one ounce of gold than bitcoin.

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  • OverdateOverdate Posts: 7,017 ✭✭✭✭✭

    4.78 5.03 oz of gold or one bitcoin?

    $6379!

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  • CCC2010CCC2010 Posts: 1,997 ✭✭✭

    Gold for me...

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  • BoosibriBoosibri Posts: 12,145 ✭✭✭✭✭

    The only people I personally know who buy bitcoins are fools and were fools before they bought their first bitcoin.

    Latin American Collection

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Gold... every time.... I will refrain from predictions.... and I promise not to say 'I told you so.' Cheers, RickO

  • dpooledpoole Posts: 5,940 ✭✭✭✭✭

    I bought one Bitcoin when it was (relatively) cheap, out of fascination, if nothing else. The volatility (not to say resilience) of Bitcoin has been extraordinary.

    And no, I don't know Boosibri personally. ;)


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  • renman95renman95 Posts: 7,037 ✭✭✭✭✭

    @dpoole said:
    I bought one Bitcoin when it was (relatively) cheap, out of fascination, if nothing else. The volatility (not to say resilience) of Bitcoin has been extraordinary.

    And no, I don't know Boosibri personally. ;)

    Good for you dpoole.

    I'd file Bitcoin under 'speculation'. Only put in 'foolish' money one can afford to lose without care. ;-)

  • dpooledpoole Posts: 5,940 ✭✭✭✭✭
    edited November 1, 2017 7:22PM

    Unlike tulip bulbs, Bitcoin and other cryptocurrencies are not just a common thing that caught speculative fire. Instead, (and without precedent beyond transitory and unsustainable black markets) they present as a currency beyond the capacity of the powerful to control.

    That may or may not prove to be true. But if it is, it is genuinely a revolutionary phenomenon, the consequences of which are absolutely unforeseeable, and are clearly transformative in any event. We have seen the Chinese, for example, invite Bitcoin, become unsettled by it, and then to ban it. The (unique among cryptocurrencies) response has been an unexpected massive resurgence following an initial wary fall-off. (It is up to a ridiculous $6861/Bitcoin as I write).

    I don't know what to make of this, but I think we're arrogant to dismiss this phenomenon out of hand, or to discount what the internet, globalization and the geopolitical/social states of things introduce with regard to what people consider to be of value.

    And speaking of unprecedented stuff:

    Go Astros! :)


    Here's a warning parable for coin collectors...



  • cohodkcohodk Posts: 19,188 ✭✭✭✭✭

    Does bitcoin demonstrate that anything could be adopted as a currency?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,365 ✭✭✭✭✭

    Block chain technology is worth more than all the gold in the universe.

  • guitarwesguitarwes Posts: 9,266 ✭✭✭

    @cohodk said:
    Does bitcoin demonstrate that anything could be adopted as a currency?

    Yes, I believe that if it is accepted by a group of people that anything could be a currency. And Bitcoin, and other cryptocurrencies, have become just that to the technological age. People have traded spices, cloth, animals, minerals, etc all the way back to the beginning of time as a form of currency. Recently, a piece of paper with some ink and a promise on it. And even more recently, ones and zeros flying thru wires and showing up on computer screens.

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  • guitarwesguitarwes Posts: 9,266 ✭✭✭

    Blockchain Technology is an honest and accountable system. People in high places fear it.........BIG time.
    No one can stop it. Governments, Banks, Politicans. No one.

    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
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  • cohodkcohodk Posts: 19,188 ✭✭✭✭✭

    @guitarwes said:
    Blockchain Technology is an honest and accountable system. People in high places fear it.........BIG time.
    No one can stop it. Governments, Banks, Politicans. No one.

    Wait till the Space Bros find out. They ain't gonna be happy.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • MorganMan94MorganMan94 Posts: 1,330 ✭✭✭✭✭

    How is Bitcoin going to become a viable currency when $7,000 is equal to one bitcoin? The exchange rate is way too high to be used for everyday purchases. If I want to buy a pop at the local convenience store are they really going to accept .00001428 bitcoin? Fees would eat up the entire amount.

  • guitarwesguitarwes Posts: 9,266 ✭✭✭

    You're correct. Think Bitcoin for very large transactions (house, car, land purchase, shifting millions from one place to another, etc). Bitcoin is not efficient for buying a cup of coffee.
    There are several other micropayment coins that are better and faster than BTC for small purchases. Litecoin being one, if not the top, one. Dash is another popular one.

    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
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  • OverdateOverdate Posts: 7,017 ✭✭✭✭✭

    Bitcoin is rapidly appreciating for one reason only: I haven't bought any yet.

    Once I do, look out below!

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  • metalmeistermetalmeister Posts: 4,586 ✭✭✭✭✭

    Who's the guy who bot Bitcoin at $10? It's over $7000 now.

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  • DrBusterDrBuster Posts: 5,409 ✭✭✭✭✭
    edited November 2, 2017 4:48PM

    removed, not my place

  • renman95renman95 Posts: 7,037 ✭✭✭✭✭

    @metalmeister said:
    Who's the guy who bot Bitcoin at $10? It's over $7000 now.

    Go to the GBTC yahoo msg board...scroll down, a few bought in early and have several $100,000's...

  • renman95renman95 Posts: 7,037 ✭✭✭✭✭

    The current pop to over $7,000 is probably due to CME announcing they will launch bitcoin futures by the end of the year.

  • renman95renman95 Posts: 7,037 ✭✭✭✭✭

    Current ratio = 5.81:1.

  • metalmeistermetalmeister Posts: 4,586 ✭✭✭✭✭

    Back in 1998 in a famous transaction 10,000 bitcoins were used to purchase 2 Papa Johns pizzas. Crazy times.

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  • BruceSBruceS Posts: 1,355 ✭✭✭✭✭

    @metalmeister said:
    Back in 1998 in a famous transaction 10,000 bitcoins were used to purchase 2 Papa Johns pizzas. Crazy times.

    i don't think Bitcoin goes back that far. I think 2009 was when the first coin was mined.


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  • renman95renman95 Posts: 7,037 ✭✭✭✭✭

    @BruceS said:

    @metalmeister said:
    Back in 1998 in a famous transaction 10,000 bitcoins were used to purchase 2 Papa Johns pizzas. Crazy times.

    i don't think Bitcoin goes back that far. I think 2009 was when the first coin was mined.

    There's a good flick on Netflix regarding the early history of bitcoin. It goes back to the 90's.

  • metalmeistermetalmeister Posts: 4,586 ✭✭✭✭✭

    I Googled it on wikapedia

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  • BruceSBruceS Posts: 1,355 ✭✭✭✭✭

    https://en.m.wikipedia.org/wiki/History_of_bitcoin

    I don't see it? Seems like 09 to me. What am I missing? I see the papa John's reference but didn't see a date attached.


    eBay ID-bruceshort978
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  • TwoSides2aCoinTwoSides2aCoin Posts: 44,365 ✭✭✭✭✭

    You missed it because it’s crypto.

  • guitarwesguitarwes Posts: 9,266 ✭✭✭

    The first Bitcoin block was in 2009. The Whitepaper came out in Oct. 2008, just after the horrendous crash of the stock market. Perfect timing.

    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭

    Bitcoin has been a RIOT today, lol.
    GLTA.

  • Booger9989Booger9989 Posts: 406 ✭✭✭

    It can and may one day be shut down.... all that needs to happen is the government pull the plug on the Internet and its worthless! How do you access bitcoin in a natural disaster? EMP? I will take the gold.

    Even though I have a few I purchased at 11.00 each they will stay in cold storage for a long time. But the "what if's scare me.

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  • 1630Boston1630Boston Posts: 13,787 ✭✭✭✭✭

    Gold , still :smile:

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    Bad transactions with : nobody to date

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