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Old 03-14-2018, 05:08 PM
 
930 posts, read 326,713 times
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Quote:
Originally Posted by SportyandMisty View Post
I like a few of the economists' short responses.
... see prior post ..
Question A (Gold vs. Currency)
S&M, I knew I could count on you for a thoughtful response.

As long as one can't easily substitute for gold, like for bitcoins, or create it out of thin air, like fiat money, gold will always be something special, especially to a woman.

So I warn you guys, do NOT try to palm off 'Bitcoin earrings' for Valentines Day and expect to get to 'play ball'!... unless they're made of real gold!

Last edited by PamelaIamela; 03-14-2018 at 06:33 PM..
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Old 03-14-2018, 05:46 PM
 
Location: City of the Angels
2,223 posts, read 1,588,482 times
Reputation: 5370
There's a lot of shady behavior that's still involved with buying intangible nebulous currencies that exist only in a promise.
At least with Gold and Silver, you can physically hold it in you hand.
Giza
Cryptocurrency scammers run off with more than $2 million after ditching their investors
https://www.cnbc.com/2018/03/09/cryp...after-ico.html

Numerous other examples.

https://www.google.com/search?source....0.dGn9W7k5Ilk
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Old 03-15-2018, 09:38 AM
 
5,315 posts, read 3,480,690 times
Reputation: 5064
Quote:
Originally Posted by SportyandMisty View Post
Leading Economists weigh in on Bitcoin:

http://www.igmchicago.org/surveys/bitcoins

Question A: Bitcoins are more similar to gold than they are to currency: Agree or Disagree

Question B: Bitcoins are more similar to gold than they are to Dutch tulips in the 1630s: Agree or Disagree
A: Neither.

B: Disagree. There's a ton of different tulips. There's a ton of different cryptos. There is one gold.
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Old 03-15-2018, 12:49 PM
 
3,547 posts, read 2,265,106 times
Reputation: 2670
Quote:
Originally Posted by BeerGeek40 View Post
Have to disagree on that one.... Gold has been around for thousands of years and is a legitimately RARE commodity. It has some industrial uses as well as jewelry. I'm not crazy about gold as an investment that is going to make you great amounts of money - it pays no interest for one thing - but as a storehouse of value - it's very good.
Gold is rare, and it does have industrial use, but that doesn't justify its price. Gold attracts buyers who buy in the belief that the value will go up, or that it will have value when society collapses or whatever. The reality is that gold is just a commodity, like tulip bulbs. It's old and rare, but so are diamonds and dinosaur bones. It's been used as a medium for currency in the past, but so have paper and shells.
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Old 03-15-2018, 01:31 PM
 
2,418 posts, read 1,541,711 times
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Quote:
Originally Posted by PamelaIamela View Post
S&M, I knew I could count on you for a thoughtful response.

As long as one can't easily substitute for gold, like for bitcoins, or create it out of thin air, like fiat money, gold will always be something special, especially to a woman.

So I warn you guys, do NOT try to palm off 'Bitcoin earrings' for Valentines Day and expect to get to 'play ball'!... unless they're made of real gold!
Bitcoin earrings?!?! Oh so you’re saying I’m worth half as much as I was 2 months ago? *slap*
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Old 01-28-2019, 06:58 AM
 
Location: India
2 posts, read 529 times
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Yes I agree that Bitcoin is similar to gold by using bitcoin we can purchase gold also but its not applicable in all countries so you wan to check and buy the gold using Bitcoin.
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Old 01-28-2019, 11:22 AM
 
Location: North Idaho
21,549 posts, read 26,976,143 times
Reputation: 40890
Quote:
Originally Posted by GiantRutgersfan View Post
There are also a cap on the number of bitcoins that can eventually be mined. ...............

According to what law of nature? Bitcoin is computer generated. Its possible to computer generate an unlimited supply. You are depending upon the honesty of the fellow who invented it and the honor of all the hackers in the world. Not the very best gamble,


So far, gold can't be manufactured so the supply is limited to what Mother Nature provided. Gold has a lot of industrial uses as well as just being pretty, so there is real value there. Although my opinion is that it is overpriced due to speculators. And who knows; some explorer in Africa might discover a mountain of solid pure gold, thereby scuttling the value.
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Old 01-28-2019, 11:25 AM
 
9,719 posts, read 11,633,991 times
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Quote:
Originally Posted by Thatsright19 View Post
Bitcoin earrings?!?! Oh so youíre saying Iím worth half as much as I was 2 months ago? *slap*
Nah......in the last year you are worth about 1/3 of what you were last Valentines day!
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Old 01-28-2019, 11:27 AM
 
9,719 posts, read 11,633,991 times
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Best one liner for bitcoin........ SH itcoin!
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Old 01-28-2019, 11:50 AM
 
241 posts, read 201,817 times
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I wonder, who own these currencies and who control them...? Are they safe? (no currency is really but if there's value and use for let's say gold, which there is, it'll still have value even if it goes down. Not so with cryptocurrencies.
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