Quote from: iamnotback on April 16, 2017, 06:10:36 PM

Lol. Bitcoin and gold are roughly the same price. Gold is going to $5k max, Bitcoin to $500k.

Buying gold is an impoverishment plan.

Crypto-currency and blockchains will subsume everything.

Tinfoil hats and @dinofelis will be left behind.

Now we know why the Bible says we will throw our gold and silver into the street. Precious metals will become relatively worthless. Remember iron used to be a precious metal (its documented in Rise of Knowledge, Decline of Finance essay). Commodities are on inexorable trend of lower value (because we can increase their supply at lower costs with new technologies for mining). And gold can't compete with Bitcoin's better attributes.

When you say gold and bitcoin are the same price you are ignoring total market cap and just cherry picking units of measure as they are not directly comparable.

Why do you think bitcoin will be the crypto of choice. Why won't the central banks and governments steal and improve the tech and launch an international crypto they control? (It would also have all the required legislation and incentives in place to attract large investment organisations)

Bitcoin proves the theory and nothing more.

You say commodities are getting cheaper due to better tech but they are reliant on energy and energy prices only ever go one way over the long term.

Also trying to discredit those that invest in previous metals by calling them tin foil hats doesn't further your argument.