The one big difference between Bitcoin and Gold

Shaun108 said:
Guy wearing a 8 bitcoin necklace. Wonder how many rands this is now?
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I wonder when we are going to start seeing scams where people try and sell "physical" bitcoins? That would be funny.
 
Swa said:
Switzerland for one. Why it is the preferred destination for wealthy individuals to keep their dosh in case of a complete currency collapse.

Also just because most money in the world is created through debt doesn't mean it isn't real. If you understand how money is created you'd know why this is a necessary complication of the system. It doesn't mean that it's all just digital based on nothing with governments printing it and handing it out. Zimbabwe tried that and it didn't end too well.
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Nope... They're not on the gold standard anymore.... Try again
 
R13... said:
The Swiss franc? They abandoned the gold standard in 2000.
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Official policy. Practically a large amount is still gold and there's continuous pushing to return to a gold requirement.
 
supersunbird said:
Eish, better the Devil you know haha.

Anyway, an EMP or such destroys electronics... how's your bitcoin gonna pay for anything now?
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Bitcoin paper wallet generated at bitaddress.org
Bitcoin_paper_wallet_generated_at_bitaddress.jpg
 
Swa said:
Official policy. Practically a large amount is still gold and there's continuous pushing to return to a gold requirement.
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That ended in 2000...And in 2014 the last vote to return to a form of gold standard was voted down...

Dude if you're going to make claims at least research them to see if you're making an idiot of yourself or not
 
The last thing the current monetary authorities and hegemons in the US want is a remonetisation of gold. The Fed will pull whatever levers it can do keep gold low in order to protect the dollar.
 
ponder said:
No it's a finite 'resource' unlike fiat money you just print.
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Until someone launches a *cough* competing *cough* interchangeable currency. :p

ToxicBunny said:
That ended in 2000...And in 2014 the last vote to return to a form of gold standard was voted down...

Dude if you're going to make claims at least research them to see if you're making an idiot of yourself or not
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You're talking policy wise, I'm referring to the practicality. 20% is pretty much all the real money in existence. What is then a gold standard to you if that isn't one? And the moves indicate there are factions trying to ensure a gold standard is made mandatory.
 
Swa said:
Until someone launches a *cough* competing *cough* interchangeable currency. :p


You're talking policy wise, I'm referring to the practicality. 20% is pretty much all the real money in existence. What is then a gold standard to you if that isn't one? And the moves indicate there are factions trying to ensure a gold standard is made mandatory.
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Them keeping a reserve of 20% which I don't think they do anymore anyway is not a gold standard. The currency is not tied to their gold holdings.
 
milomak said:
no the gold standard is each unit of currency backed by gold

all you are describing is that central banks make decisions about the mix of the reserves they hold. hell last i looked the sarb had gold reserves.

edit - https://www.resbank.co.za/Markets/ForeignReserves/ManagementOfGoldReserves/Pages/default.aspx
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They never had 100% so that metric fails. Yes SA has gold, much more relatively that countries like America.

ToxicBunny said:
Them keeping a reserve of 20% which I don't think they do anymore anyway is not a gold standard. The currency is not tied to their gold holdings.
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Seems arbitrary as the gold is still there, and yes by reports they still have 20% (or more).
 
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