Quote from: tomcollins on May 01, 2011, 10:13:44 PM

Quote from: Ulysses on May 01, 2011, 06:53:25 PM

If bitcoin will be a success (e.g. 10% of US economy), than i think it will demonetize gold relatively quickly, so gold's price will be around industrial use price. This is the same effect, that happened to silver in 19-20th century.

Betting on something 2 years old with 10,000 users vs. something with 5,000 of history seems like a bad mistake IMO.

Past performance is no indication of future results.

That said, I don't think gold is likely to ever fully demonetize to the extent that it trades at intrinsic value.