Quote from: bananaControl on July 13, 2015, 05:04:43 PM

Quote from: aztecminer on July 13, 2015, 04:57:46 PM

Quote from: Richy_T on July 13, 2015, 04:18:53 PM

Quote from: aztecminer on July 13, 2015, 04:12:06 PM

metals have a intrinsic value while bitcoins does not. i no longer trust bitcoin because it is, in my opinion, manipulated by whales and exchanges.your in the club or your not... their are predators out hunting for some poor newb who invests a bunch money into the scheme while they pump it and then they turn around and dump on them causing them to fear and dump their coins at a loss for their gain.. you trying to claim that is a system we can trust ?? this is my new opinion about bitcoin.

There is no such thing as intrinsic value.

Gold's utility value is pretty low and its current price is mostly speculative. Good luck with that.

gold will ALWAYS FOREVER be worth something... while paper ( stock, bonds, etc) and digital currency can go to zero.

gold's current price is manipulated down which means it is not it's true value... which is exactly why a person would want to buy them.

bitcoin is a pump and dump and i am hoping for good luck with it since i own a bunch of it.

And it will reach the price of aluminium once the private space industry starts mining asteroids. There is NO limit to the amount of gold in existence out there, math on the other hand.

Quote from: bananaControl on July 13, 2015, 05:04:43 PM

Quote from: aztecminer on July 13, 2015, 04:57:46 PM

Quote from: Richy_T on July 13, 2015, 04:18:53 PM

Quote from: aztecminer on July 13, 2015, 04:12:06 PM

metals have a intrinsic value while bitcoins does not. i no longer trust bitcoin because it is, in my opinion, manipulated by whales and exchanges.your in the club or your not... their are predators out hunting for some poor newb who invests a bunch money into the scheme while they pump it and then they turn around and dump on them causing them to fear and dump their coins at a loss for their gain.. you trying to claim that is a system we can trust ?? this is my new opinion about bitcoin.

There is no such thing as intrinsic value.

Gold's utility value is pretty low and its current price is mostly speculative. Good luck with that.

gold will ALWAYS FOREVER be worth something... while paper ( stock, bonds, etc) and digital currency can go to zero.

gold's current price is manipulated down which means it is not it's true value... which is exactly why a person would want to buy them.

bitcoin is a pump and dump and i am hoping for good luck with it since i own a bunch of it.

And it will reach the price of aluminium once the private space industry starts mining asteroids. There is NO limit to the amount of gold in existence out there, math on the other hand.

Quote

ALUMINUM'S STATUS IN THE MID-1880s

To fully appreciate William Frishmuth's 1884 technical achievement in the casting of the pyramid, an appraisal of the aluminum industry (if, indeed, its limited size could be called an industry) at that time provides a good insight.
The 1884 price of aluminum was approximately $1 per ounce, the same as the then prevailing market price of silver, which was considered a precious metal. The world production of new mine silver in 1884 was approximately 2,834 tonnes. Best reported estimates for world aluminum production in 1884 were 3.6 tonnes, most of it in France and England and some in Germany. Frishmuth's Philadelphia works, the only U.S. producer at that time, is given credit for production of 51 kilograms in 1884. Thus, with the thousand-fold difference in new production between the two metals we might expect that the economic laws of supply would foster a much higher price for aluminum than for silver; however, the demand factor of the same economic law (or the lack of demand) had kept the price of aluminum fairly static for the previous 20 years.