Quote from: Hanadawa on Today at 03:09:09 AM

Quote from: Sanitough on May 10, 2025, 09:42:31 PM

Quote from: Mansory22022 on May 04, 2025, 08:14:29 PM

Gold is useless for banks.....

Your statement is useless too as you didn’t even back it up with anything.

Even though we love Bitcoin and believe that Bitcoin is the best medium of exchange because of its transparency and minimal intervention, I think we all agree that gold is an asset that has existed since the beginning and has been an asset for thousands of years. I think it makes no sense for banks to sell gold and buy Bitcoin. I think even many countries in the world store their foreign exchange reserves in gold like China does. But on the other hand they also buy Bitcoin as a reserve and to make a profit. Every country will announce their Bitcoin holdings like giving a wallet address. But I am sure almost all countries never announce how many tons of gold they have.

You make little sense Hanadawa since you seem to be trying to proclaim that gold might have some money qualities that bitcoin does not have, and bitcoin is more than just a self-sovereign and transparent medium of exchange. If we take all of the monetary qualities besides the ones you mentioned that include scarcity, verifiability, transportability and perhaps some others then we can consider that bitcoin is better than gold in all of the money characteristics.... Even your description of "medium of exchange because of its transparency and minimal intervention" could imply that shitcoins might fit into
your consideration of what is in the monetary battles, when only bitcoin so far really contains all of the monetary values in a meaningful way that signifies that value is going to continue to flow into bitcoin based on the strength of its various monetary values, and the various weaker monies, whether referring to gold, fiat and/or various shitcoins, they may continue to exist, but the meaningful portions of value will continue to flow into bitcoin in Gresham law kinds of ways.

Sure, banks and status quo institutions may continue to gravitate towards wanting to keep some gold, but at the same time, they are merely sticking with outdated systems that they know, and they would be better off to increase their allocations towards bitcoin and to lessen their exposure to gold, whether they do it slowly or whether they do it rapidly is up to them, yet the ones who transition more promptly will likely enjoy more of the surplus value of having had transitioned early rather than late.. .and so there continue to be incentives for the early adopters into bitcoin, and we are still in early times and banks, financial institutions and governments seem to be lagging, even though the word is getting out more and more about the superior money qualities of bitcoin.

Again, yeah we can see status quo institutions hanging onto relic gold, yet that does not mean that those status quo institutions are either on the right path or handling this transition in a way that is to their advantage, and sure some status quo institutions may also be involved in trying to fight the actual trend, and the ones who fight harder will likely end up suffering more, even if they might experience some short term wins along the way in their battles to fight bitcoin.

Quote from: EarnOnVictor on Today at 08:55:13 AM

Quote from: bhadz on Today at 02:47:13 AM

I don't think so, most of the countries are keeping or buying more gold. Only a few sells

Nice seeing another unbiased person who says it as it is, unlike people with Trump's character who would blatantly lie about the obvious.

You are getting distracted if you consider that Trump is any kind of a meaningful character in bitcoin's adoption, even if there could be some impressions that he might be facilitating some acceleration of the process of having bitcoin as a potentially acceptable talking point. I will even concede that Trump is a liar who cannot be counted on for almost anything, unless he finds some ways to personally profit or even that he may also be grifting and conniving in regards to whatever deals that he is trying to make and/or manipulations that he is trying to carry out.

Quote from: EarnOnVictor on Today at 08:55:13 AM

They should prove how this is real/impactful when Gold is still retaining almost all the trillions of dollars it has gained in the past 1 year.

Don't get too distracted by the absolute numbers because percentages are also important.

Also zooming out is likely important rather than your seeming to get caught up upon short-term timelines in your over excitement about gold relative to bitcoin, and the actual numbers do not even justify your overexcitement about gold, even though you continue to pump such misleading narrative.. for what purpose? You trying to mislead forum members in regards to their bitcoin allocations.

See below that the trend in bitcoin versus gold continues to ongoingly favor bitcoin over gold, even if you are caught up upon gold's short term performance and/or even conceding that gold has gained in market cap more than several times the whole bitcoin market cap in the past 6 months.

Quote from: EarnOnVictor on Today at 08:55:13 AM

Talk is cheap, however, they should know that Gold is a national treasure that most countries, if not all, have tested for centuries and trusted. So they will now sell it to buy Bitcoin when no country has even actualised their talked-about strategic Bitcoin reserve? That's laughable!

It is not laughable because it is already happening. Sure it may ONLY be happening in low levels and sure it may take 50-200 years for status quo systems to convert over to bitcoin from gold, yet at the same time, we likely have one of the largest, if not the largest wealth transfers in the world happening before our eyes, even if there are a lot of folks, governments and institutions that do not see where we are at in these early stages of wealth transferance.

Quote from: EarnOnVictor on Today at 08:55:13 AM

Quote from: bhadz on Today at 02:47:13 AM

and that's the reason why if there are countries that have sold the most gold, it is our country. But guess what, it is not for buying more crypto or any other assets. It just vanished in the air and our local media don't even cover that news anymore.

I wish to know your country, but it sounds African. Corruption on the roof.

Getting distracted into crypto might be one of the things that some countries do.. but also anyone who is talking about crypto in regards to this ongoing value gravitation into bitcoin from gold (and from other inefficient ways of storing value) is missing both the BIG picture and also missing what is actually happening in current times in regards to bitcoin's ongoing adoption and the ongoing building of bitcoin's network effects (in the context of those described by Trace Mayer).

Quote from: Theupdude on Today at 08:59:59 AM

Quote from: Mansory22022 on May 04, 2025, 08:14:29 PM

Gold now is biggest dump project on the silly retail traders with the help of india and china together with wall street and western bankers.

There certainly seem to be a shift happening with how institutions evaluate gold versus crypto. Crypto delivers transparency and worldwide liquidity that gold just can't match in the digital era but I still think gold maintains value as a hedge and a physical asset, Banks moving into crypto makes sense strategically but I wouldn't rule gold out totally just yet.

Don't get distracted by crypto. Think about bitcoin in terms of your trying to figure out what is happening. If you learn bitcoin first, then you likely would realize that shitcoins are largely copy cats and/or affinity scams, and so bitcoin is where the value and innovation is.