Quote from: macsga on November 27, 2013, 10:31:31 PM

Quote from: derjanb on November 27, 2013, 10:30:10 PM

Quote from: macsga on November 27, 2013, 10:18:37 PM

The money in circulation today ($USA) is 1,18 trillion dolars (data 20.03.2013, Federal Reserve). Gold minted during our presence here is now 171,300 metric tons. Therefore there's $6,888.5 per kilo of gold. The current (27.03.2013) gold value per kilo is $51,267 (http://goldprice.org/) which means this is overpriced about a factor of circa 7.5. That's because NOT ALL of gold is available for trading.

So European and Chinese people are not allowed to buy gold unless they use dollars? ;-)

People: It's simple. Your money (wherever you are) are equals to SOME dollars. It's a THEORETICAL approach.

Ok, it's an approach, only IMHO it's very narrow in that you anly take into account money that is in circulation.

Then again, I certainly don't know how far bitcoin will go.