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Watched some video back when one reporter took a gold bar to shops to make payment for goods. Even though it was a gold bar, none of the shops accept it. Meanwhile, some shops allow Bitcoin to be used for payment.

 

Both gold and Bitcoin have limited supply. Both have no real intrinsic value for general public. Both are controlled by the financial systems and if one day these systems declare them as useless, they will have no value. 

 

Bitcoin is the new gold. The value may crash, or it may continue to be bullish. Nobody can really predict the future.

 

Using the same monkey analogy, buy from employee $700, then sell $800 to other people who are willing to buy. Earn $100 first, which is certain, as opposed to $300, which is uncertain.

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So what you're saying is that gold is valuable because people think it is valuable?

 

Yes, because its valued by countries and governments. If all of them stop wanting it, its price drops drastically.

 

Bitcoin is backed by people who you cannot verify. Dont get caught with your pants down.

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I'm aware of the gold standard, bretton woods, etc.

 

My question is actually more simple: what makes gold valuable? 

 

Bro..it is in the link I gave you : http://www.kelseywilliamsgold.com/gold-real-money/

 

To be real money it has to have some characteristics. 

 

The banks while telling you that gold has no "use", are also filling up their vaults with gold. Every central bank has vault filled with tonnes of gold. If gold has no meaning and no value, they might as well bury all their gold in the ground and save some vault spaces. 

 

Gold has lasted thousand of years.......I am not sure about bitcoin though. 

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Watched some video back when one reporter took a gold bar to shops to make payment for goods. Even though it was a gold bar, none of the shops accept it. Meanwhile, some shops allow Bitcoin to be used for payment.

 

Both gold and Bitcoin have limited supply. Both have no real intrinsic value for general public. Both are controlled by the financial systems and if one day these systems declare them as useless, they will have no value. 

 

Bitcoin is the new gold. The value may crash, or it may continue to be bullish. Nobody can really predict the future.

 

Using the same monkey analogy, buy from employee $700, then sell $800 to other people who are willing to buy. Earn $100 first, which is certain, as opposed to $300, which is uncertain.

 

U should bring both gold & bitcoin to bank for sale n see which one is the real deal... It's really that simple.

 

One is back by government n one is back by ah beng ah seng, u say which 1 is more secure n reliable?

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Watched some video back when one reporter took a gold bar to shops to make payment for goods. Even though it was a gold bar, none of the shops accept it. Meanwhile, some shops allow Bitcoin to be used for payment.

 

 

They don't accept it probably due to many factors : Ignorance, hassle to exchange, no place to safely store the gold,  not sure how to give back change, not sure the value for that gold in the first place or not sure if the gold is even real! 

 

 If I am just a shop employee, I wouldn't want to accept either......so much hassle....

 

Same like when I offer Brunei dollars to a shop before and they refuse to take even when I say it is the same value. They just want SGD.

 

But their reluctance has nothing to do with the value of gold or in my case the value of Brunei dollars.

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well, for all those saying bitcoin is finite. That is true...

 

However, don't forget there's a dozen new crytocurrencies being released every month.

 

As for trading and investment, I think everyone here is matured enough to make your own decision. There's no right and wrong in this, just do it within your means.

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Watched some video back when one reporter took a gold bar to shops to make payment for goods. Even though it was a gold bar, none of the shops accept it. Meanwhile, some shops allow Bitcoin to be used for payment.

 

Both gold and Bitcoin have limited supply. Both have no real intrinsic value for general public. Both are controlled by the financial systems and if one day these systems declare them as useless, they will have no value.

 

Bitcoin is the new gold. The value may crash, or it may continue to be bullish. Nobody can really predict the future.

 

Using the same monkey analogy, buy from employee $700, then sell $800 to other people who are willing to buy. Earn $100 first, which is certain, as opposed to $300, which is uncertain.

Bitcoin cannot be physically smelted into becoming my Rolex watch.

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Bitcoin cannot be physically smelted into becoming my Rolex watch.

Edited by meowc4tz
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Don't buy Rolex la. Casio can le. [laugh]

 

 

Don't buy Rolex la. Casio can le. [laugh]

 

 

Don't buy Rolex la. Casio can le. [laugh]

 

 

Don't buy Rolex la. Casio can le. [laugh]

 

 

Don't buy Rolex la. Casio can le. [laugh]

 

 

Don't buy Rolex la. Casio can le. [laugh]

Wah lau, dont repeat so many times leh.

 

Answer is Cannot

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Wah lau, dont repeat so many times leh.

 

Answer is Cannot

 

My internet suddenly lagged leh  [:p]

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Don't buy Rolex la. Casio can le.  [laugh]

 

Casio?...alamak...

 

:a-bang:

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So what you're saying is that gold is valuable because people think it is valuable?

Gold is valuable. The acceptance is so general that it is like fundamental. Even some images of bitcoin look like gold coins with letter B to bring the message across that bitcoins are valuable. 

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my post is based on my experience/loss:

 

gold is crap, I will lose more than 30% if I am to liquidate now...so I LLST hold and give my son during his wedding. goodness know WHY the F I bought so much last time. Ethereum make usd3k in less than 1 month BUT how to sell when stupid site constantly under maintenance or unable to access??? so once again, I  LLST watch the prices soar in the charts. End of the day, cryptos are nothing more than gambling...just invest in what you can afford to lose. 

 

I wish all brothers & sisters BIG HUAT in 2018!!!  

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Only @babyblade knows my pocket well  [nod]   :D

 

I don't want to know. Haha.

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http://www.todayonline.com/world/south-korean-cryptocurrency-exchange-file-bankruptcy-after-hacking?cid=whatsapp_dailystories_social_03082017_today

 

South Korean cryptocurrency exchange to file for bankruptcy after hacking

Broken representations of the Bitcoin virtual currency, placed on a monitor that displays binary digits, are seen in this illustration picture. Reuters file photo

Broken representations of the Bitcoin virtual currency, placed on a monitor that displays binary digits, are seen in this illustration picture. Reuters file photo

Published19 December, 2017

Updated 19 December, 2017

 

SEOUL ― A South Korean cryptocurrency exchange said on Tuesday (Dec 19) it is shutting down and is filing for bankruptcy after it was hacked for the second time this year, highlighting concerns about security as trade in bitcoin and other virtual currencies boom.

 

The exchange, called Youbit, had been hacked once before in April when nearly 4,000 bitcoins were stolen in a cyber attack that the country’s spy agency linked to North Korea, according to a South Korean newspaper report on Saturday.

 

Youbit announced on its website that it had been hacked at 4.35am local time on Tuesday, causing a loss worth 17 per cent of its total assets.

 

It did not elaborate on the amount, but said all customers’ cryptocurrency assets will be marked down to 75 percent of its value, adding it has stopped trading and will work to minimize customer losses.

 

Youbit is a smaller player in South Korea’s cryptocurrency market, with the world’s busiest cryptocurrency exchange Bithumb accounting for about 70 per cent of the country’s market share.

 

An official at Korea Internet & Security Agency (KISA), the state agency that responds to cyber attacks, said the police and KISA officials were starting an investigation into the hacking.

 

Bitcoin exchanges and wallets have a history of being targeted, and security experts say they become more vulnerable to cyber-crime as valuations rise.

 

Bitcoin traded near a record high at US$18,759.67 (S$25, 270) on the Luxembourg-based Bitstamp exchange as of 0703GMT (3.03pm, Singapore timing). REUTERS

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The only  virtual money i have was in maplesea  :D

 

Yeah, I spent a lot of money for my wife in MapleSea until it got hacked.

 

What character you playing? I have a 4th job Hero and my wife's an Ice Mage also 4th job.

Watched some video back when one reporter took a gold bar to shops to make payment for goods. Even though it was a gold bar, none of the shops accept it. Meanwhile, some shops allow Bitcoin to be used for payment.

 

Both gold and Bitcoin have limited supply. Both have no real intrinsic value for general public. Both are controlled by the financial systems and if one day these systems declare them as useless, they will have no value. 

 

Bitcoin is the new gold. The value may crash, or it may continue to be bullish. Nobody can really predict the future.

 

Using the same monkey analogy, buy from employee $700, then sell $800 to other people who are willing to buy. Earn $100 first, which is certain, as opposed to $300, which is uncertain.

 

Bro, bitcoin is just gambling. Never trust anything that is not backed by any authorities.

 

Maybe I'm just old school because half my career is in banking.

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Yeah, I spent a lot of money for my wife in MapleSea until it got hacked.

 

What character you playing? I have a 4th job Hero and my wife's an Ice Mage also 4th job.

 

 

 

I stopped long ago ... me was hero , I think level 160 . 

 

spend alot on scrolling item with 10% ... always Poof !  [bigcry]

 

NEver play in public shops ...  

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I stopped long ago ... me was hero , I think level 160 . 

 

spend alot on scrolling item with 10% ... always Poof !  [bigcry]

 

NEver play in public shops ...  

 

We also never play in public LAN shops, our accounts got hacked from the server end.

 

I managed to get some 10% scrolls, best is I think +3 but worth it already. Some 10% can't sell so just use and hope for best.

 

Sometimes I just go FM, stripped to noob and jump around lol.

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I don't want to know. Haha.

 

 

You may find these ......

 

[grin]  [thumbsup]

 

Loose-Diamond-4.jpg

 

 

 

 

 

although ... likely these ....

 

 

 

 

 

stock-photo-a-handful-of-coins-in-the-pa

 

 

:D

Edited by Angcheek
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I think he got this instead

 

289Slaking_AG_anime.png

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