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Started By
Message
re: Gold-All time high
Posted on 3/8/24 at 8:33 am to slackster
Posted on 3/8/24 at 8:33 am to slackster
Slack did pick nearly the peak in 2021. So let's go one year further and do 4 years ago in 2020.
In 2020, Gold opened the year at $1520.25. Bitcoin opened the year at $7196.61. So let's go with that. If you prefer we can do March 12, 2020 when Bitcoin fell 40% to $3850 which was the low for the year.
Jan 1, 2020 (Open)
Gold - $1520.25
Bitcoin - $7196.61
March 7, 2024 {Close)
Gold - $2165.20
Bitcoin - $67000 (price appx at 4PM EST)
Percent change In Price Since Jan 1, 2020
Gold - 42.4% increase
Bitcoin - 930.9% increase
Now if you want to do exactly 4 years when Bitcoin was at its lowest for the year, similar to how we just did 3 years ago in March 2021 when Bitcoin was near its high for the year, then it will be a much greater difference than Bitcoin annihilating Gold's 42.4% increase by 22X fold more.
2024 and 2025 are going to be monster years for Bitcoin. Gold is a good investment, but Bitcoin will be multiples higher.
In 2020, Gold opened the year at $1520.25. Bitcoin opened the year at $7196.61. So let's go with that. If you prefer we can do March 12, 2020 when Bitcoin fell 40% to $3850 which was the low for the year.
Jan 1, 2020 (Open)
Gold - $1520.25
Bitcoin - $7196.61
March 7, 2024 {Close)
Gold - $2165.20
Bitcoin - $67000 (price appx at 4PM EST)
Percent change In Price Since Jan 1, 2020
Gold - 42.4% increase
Bitcoin - 930.9% increase
Now if you want to do exactly 4 years when Bitcoin was at its lowest for the year, similar to how we just did 3 years ago in March 2021 when Bitcoin was near its high for the year, then it will be a much greater difference than Bitcoin annihilating Gold's 42.4% increase by 22X fold more.
2024 and 2025 are going to be monster years for Bitcoin. Gold is a good investment, but Bitcoin will be multiples higher.
This post was edited on 3/8/24 at 9:41 am
2
Posted on 3/8/24 at 8:34 am to Pendulum
quote:
Why can't we just own both btc and gold
Then what are we going to argue about and measure dicks with?
Posted on 3/8/24 at 8:36 am to 98eagle
I think everyone knows BTC outperforms gold in 99.9% of time periods over the past 15 years. I read Slack's post as more of a joke/troll comment given the amount of posts on MT about bitcoin lately and the timing of 3 years being the perfect snapshot where gold outperforms. You don't have to get so defensive baw
Posted on 3/8/24 at 8:54 am to TigerTatorTots
I agree, I took the bait of a friendly joke/ troll. I didn't mean to be so defensive. I just wanted to point out that Bitcoin is a much better investment than Gold in my opinion especially now since the ETFs have made Bitcoin a new asset class just before the halving. Gold is also a good investment, just not the King it used to be.
Posted on 3/8/24 at 11:15 am to TigerTatorTots
quote:
I read Slack's post as more of a joke/troll comment given the amount of posts on MT about bitcoin lately and the timing of 3 years being the perfect snapshot where gold outperforms.
Precisely.
Imagine betting on gold vs BTC with I Love Bama at that time. Damn that would have been peak irony to get beaten by gold over 2-3 years.
This post was edited on 3/8/24 at 5:23 pm
Posted on 3/11/24 at 1:09 pm to I Love Bama
quote:
Then what are we going to argue about and measure dicks with?
A tape measure.
Posted on 3/11/24 at 2:42 pm to 98eagle
quote:
I just wanted to point out that Bitcoin is a much better investment than Gold in my opinion esp
But why?
I can see as a speculative trade but as an investment, I’d sleep much better at night with gold than bitcoin.
Also, I usually invest in things I can actually use. I can’t see much use for bitcoin
Posted on 3/13/24 at 9:30 am to LChama
People that own physical gold understand that the value of gold will only increase to it's true value against the dollar when the market values physical gold separately from paper gold.
Posted on 3/13/24 at 10:32 am to 98eagle
quote:
I just wanted to point out that Bitcoin is a much better momentum trade than Gold in my opinion
Neither are investments, FYI. Gold historically is not meant to be an investment.
Posted on 3/13/24 at 10:48 am to SlidellCajun
quote:
But why?
I can see as a speculative trade but as an investment, I’d sleep much better at night with gold than bitcoin.
Also, I usually invest in things I can actually use. I can’t see much use for bitcoin
To each his own. I do have a question for you though. Why do you think you can actually use gold more than Bitcoin? I think gold is much less useful than Bitcoin, but perhaps I am misunderstanding the use of gold.
Would you make jewelry out of gold? Would you send payments with gold? Would you barter with it? Is it useful building things that can conduct electricity? Just curious about all of the ways you can personally use gold.
With Bitcoin, I can purchase things online with it. I can use it like money to pay for things, currently with over 600 retailers and stores. I can send Bitcoin to anyone with a wallet anywhere almost instantly. I can easily exchange it to US dollars on an exchange. I don't have to worry about hauling around heavy gold bars worth a lot of money, and it would be an enormous waste of time and money to transport gold to try and use as money. Imagine trying to send gold overseas on an airplane. How do you divide a gold bar when trying to use it as a payment?
The Bitcoin network is secured by nodes that collectively have an order of magnitude more computing power than a supercomputer. Bitcoin is also going to appreciate much faster than gold over time and surpass gold in global market cap, so that's what allows me to sleep at night.
Posted on 3/14/24 at 1:14 pm to 98eagle
You are viewing this all wrong...gold is a storehouse of value and an insurance policy against inflation and unexpected/expected calamity impacting financial instruments and markets. It cannot be viewed simply for its transactional ability.
Posted on 3/14/24 at 7:03 pm to LSU4Life2021
quote:
You are viewing this all wrong...gold is a storehouse of value and an insurance policy against inflation and unexpected/expected calamity impacting financial instruments and markets. It cannot be viewed simply for its transactional ability.
Not really. I do think Gold is exactly what you say it is. I just think Bitcoin is exactly the same (but much better) plus it has more uses as actual money. I was really just responding to SlidellCajun's post stating that Bitcoin is speculative and he can't invest in something that is not actually useful.
Bitcoin is now a new asset class, thanks to the SEC approval of the Spot Bitcoin ETFs. The Bitcoin ETFs are already at 60% of all of the Gold ETFs in Assets Under Management in just 2 months. Bitcoin ETFs will surpass the Gold ETFs this year easily. Not long ago, Bitcoin was 1% of Gold's worldwide market cap. Now it's over 10%. Bitcoin will eventually have the largest capital market cap.
No way I would sell Bitcoin or the Bitcoin ETFs to buy gold or the gold ETFs. I'm staying with the long term winner.
Posted on 3/14/24 at 8:39 pm to LSU4Life2021
quote:
You are viewing this all wrong...gold is a storehouse of value and an insurance policy against inflation and unexpected/expected calamity impacting financial instruments and markets. It cannot be viewed simply for its transactional ability.
Gold being a safe harbor against inflation should be so thoroughly debunked by now.
Posted on 3/17/24 at 8:39 pm to slackster
quote:
Gold being a safe harbor against inflation should be so thoroughly debunked by now.
Gold isn’t a safe harbor against inflation, it’s a hedge against the stock market and/or economy as a whole cratering: because if that DOES happen I guarantee gold will shoot to the absolute MOON.
Posted on 3/17/24 at 9:26 pm to 98eagle
quote:
2024 and 2025 are going to be monster years for Bitcoin. Gold is a good investment, but Bitcoin will be multiples higher.
At what point is bitcoin considered fairly valued or over valued?
Posted on 3/17/24 at 11:20 pm to SlidellCajun
quote:
At what point is bitcoin considered fairly valued or over valued?
There are only 21 million that will ever exist. A solid 2 million that are lost forever. There are over 60 million millionaires on the planet. Eventually owning 1 bitcoin will be a status thing. The price will easily surpass $1m.
Posted on 3/18/24 at 7:53 am to tenderfoot tigah
quote:
There are only 21 million that will ever exist. A solid 2 million that are lost forever. There are over 60 million millionaires on the planet. Eventually owning 1 bitcoin will be a status thing. The price will easily surpass $1m.
And would that be fair value?
How would you know?
And what would you do with a $1mm bitcoin?
Heck, what would you do with a 67,000 bitcoin?
Posted on 3/18/24 at 8:47 am to SlidellCajun
nn
This post was edited on 3/22/24 at 9:31 pm
Posted on 3/18/24 at 12:26 pm to slackster
I'm not sure I understand the chart you posted. Here's GLD/DXY:
Unfortunately we would need hundreds of years of price history to definitively analyze gold as a store of value or inflation hedge. It seems to be okay as the former.
I would strongly suggest to not do this for education purposes
Unfortunately we would need hundreds of years of price history to definitively analyze gold as a store of value or inflation hedge. It seems to be okay as the former.
quote:
Anyone who wants to learn more, I suggest they search for Michael Saylor and Anthony Pompliano
I would strongly suggest to not do this for education purposes
This post was edited on 3/18/24 at 12:28 pm
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