Quote from: HeRetiK on July 23, 2017, 10:04:42 PM

Quote from: European Central Bank on July 23, 2017, 07:57:19 PM

the people without computers don't have any effect on the gold price. that's set by people with computers.

once more of those people with computers realise what bitcoin is and can do then it's off to the races.

it's been nearly 40 years since gold's all time high. in the meantime paper gold has completely detached the price from any type of reality and there's more fake gold than ever. it's ripe to be superseded by young and savvy people at least.

...what do you mean by "it's been nearly 40 years since gold's all time high"? Using what metric? The gold price peaked just 5 years ago...

Quote from: d5000 on July 23, 2017, 09:56:44 PM

I don't see Bitcoin as much as a competitor for gold than for Western Union. Remittances is, as of now, the field where Bitcoin really excels: The volatility is almost non-relevant - even in bear markets - as Bitcoin remittances take place in minutes to a few hours, and there are no international barriers (apart from prohibitions in, at most, a handful countries).

Yes, so much this. International remittances are abysmal. Even leaving the SEPA zone feels like entering the middle ages and it's still the same continent.

The same is true for international stock trading. The regulations make it quite a painstaking process. Hence, equity participation is another market that the crypto-scene could one day start gobbling up in large chunks. There are already initial signs and tasters for this in some actually legitimate ICOs popping up here and there.