Jump to content

  • Search this thread
  • Reply to this topic
135 replies to this topic | 374 praises

#21

Posted 19 December 2017 - 12:59 PM

Kusje
  • Kusje
    2Fast2Furious
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    32,032
      Joined: 05 July 2007
      Posts: 17,011
     

Its been accepted over the years that gold is valuable by all countries and they hold it as currency.

Same like why your paper printed money is valuable. 

People recognize that this currency is backed by the countries and their governments.

 

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

 


Edited by Kusje, 19 December 2017 - 01:01 PM.

1 Anonymous member praised this
That is all.

#22

Posted 19 December 2017 - 01:01 PM

Angcheek
  • Premium member
    Angcheek
    2Fast2Furious
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    214,646
      Joined: 23 November 2009
      Posts: 14,332
     

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

 

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

 

Items that cannot be reproduced , rare  .... been shinny does help though   :D  

 

COE is exceptional.  <_<  


Mercs and 1 Anonymous member praised this
樹多總有枯枝,人多總有白痴

#23

Posted 19 December 2017 - 01:05 PM

Angcheek
  • Premium member
    Angcheek
    2Fast2Furious
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    214,646
      Joined: 23 November 2009
      Posts: 14,332
     

However , RBC is very positive about abit of coin though ...

 

https://cryptovest.c...-frame-unknown/


Spring, Mercs and Uncle2 praised this
樹多總有枯枝,人多總有白痴

#24

Posted 19 December 2017 - 01:05 PM

Enye
  • Enye
    2Fast2Furious
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    66,185
      Joined: 23 June 2002
      Posts: 13,124
     

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

i suggest you go back to barter trade

😂
Cheesey74 and 1 Anonymous member praised this

#25

Posted 19 December 2017 - 01:11 PM

kdash
  • Premium member
    kdash
    2Fast2Furious
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    61,980
      Joined: 11 October 2017
      Posts: 9,992
     

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

its probably a combination of perceived and intrinsic value.

for diamond, percentage of perceived value should be much higher...
Spring praised this
Sienta X 2009, Sienta Hybrid X 2017
PSA: Get car cam if you still have not done so...
PSA2: Apply for vCashcard...

#26

Posted 19 December 2017 - 01:18 PM

meowc4tz
  • Premium member
    meowc4tz
    4th Gear
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    545
      Joined: 07 December 2017
      Posts: 161
     

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.


1 Anonymous member praised this

#27

Posted 19 December 2017 - 02:09 PM

Unfair
  • Premium member
    Unfair
    6th Gear
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    2,542
      Joined: 08 August 2008
      Posts: 2,365
     

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.


Cheesey74 and 2 Anonymous members praised this

Pepi18022009 (For Fifa14/GTA V)


#28

Posted 19 December 2017 - 02:21 PM

Icedbs
  • Icedbs
    NOS-ed
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    16,020
      Joined: 27 May 2010
      Posts: 6,220
     

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.kelseywil...old-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. 


1 Anonymous member praised this

#29

Posted 19 December 2017 - 02:23 PM

Cheesey74
  • Premium member
    Cheesey74
    6th Gear
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    3,082
      Joined: 05 May 2004
      Posts: 660
     

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?


Throttle2 and 1 Anonymous member praised this
BSS "From Each His Best"
_______________________
Good Practice cultivate Good Karma. Be nice to people :-)

#30

Posted 19 December 2017 - 02:29 PM

Icedbs
  • Icedbs
    NOS-ed
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    16,020
      Joined: 27 May 2010
      Posts: 6,220
     

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.


Sadan and 1 Anonymous member praised this

#31

Posted 19 December 2017 - 02:37 PM

Kurumanbo
  • Premium member
    Kurumanbo
    4th Gear
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    578
      Joined: 08 August 2017
      Posts: 159
     

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.


Tianmo, Volvobrick, Throttle2, Sadan and 1 Anonymous member praised this

#32

Posted 19 December 2017 - 02:38 PM

Throttle2
  • Throttle2
    2Fast2Furious
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    41,711
      Joined: 19 January 2008
      Posts: 28,912
     

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. 😩

Muayhahaha
Volvobrick praised this
Targetting to truly retire by 2028
Give away my CPF
Travel the world and smoke those Cubans!

#33

Posted 19 December 2017 - 02:45 PM

meowc4tz
  • Premium member
    meowc4tz
    4th Gear
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    545
      Joined: 07 December 2017
      Posts: 161
     

 

Bitcoin cannot be physically smelted into becoming my Rolex watch. 😩

Muayhahaha

 

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


Edited by meowc4tz, 19 December 2017 - 02:47 PM.

1 Anonymous member praised this

#34

Posted 19 December 2017 - 02:47 PM

Throttle2
  • Throttle2
    2Fast2Furious
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    41,711
      Joined: 19 January 2008
      Posts: 28,912
     

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
Targetting to truly retire by 2028
Give away my CPF
Travel the world and smoke those Cubans!

#35

Posted 19 December 2017 - 02:49 PM

meowc4tz
  • Premium member
    meowc4tz
    4th Gear
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    545
      Joined: 07 December 2017
      Posts: 161
     

Wah lau, dont repeat so many times leh.

Answer is Cannot

 

My internet suddenly lagged leh  [:p]



#36

Posted 19 December 2017 - 02:54 PM

Icedbs
  • Icedbs
    NOS-ed
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    16,020
      Joined: 27 May 2010
      Posts: 6,220
     

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

 

Casio?...alamak...

 

:a-bang:



#37

Posted 19 December 2017 - 06:22 PM

Unltd
  • Unltd
    Supercharged
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    5,759
      Joined: 12 August 2005
      Posts: 4,790
     
Shouldn’t this whole thing be merged here?

http://www.mycarforu...-576/?p=6296409
1 Anonymous member praised this
My mechanic told me, "I couldn't repair your brakes, so I made your horn louder."
Smile, and the world will smile with you. Laugh and they'll all think your on drugs
"i'm not tailgating, i'm keeping up with the pace car"
When it's a question of money, everybody is of the same religion

#38

Posted 19 December 2017 - 10:47 PM

Volvobrick
  • Volvobrick
    2Fast2Furious
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    30,774
      Joined: 03 April 2013
      Posts: 4,293
     
Gold cannot be stolen by Ah Bui....

#39

Posted 19 December 2017 - 10:59 PM

JonathanTan_197641
  • THREAD STARTER
  • JonathanTan_197641
    Neutral Newbie
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    18
      Joined: 14 December 2017
      Posts: 20
     

2018 got more room to run thou


1 Anonymous member praised this

#40

Posted 20 December 2017 - 12:04 AM

pi3142
  • pi3142
    2nd Gear
    The points of the user determines the rank. The higher the points, the higher the rank.
    Author Image
    The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
     
    Points:
    Points are accumulated from other users who Praise or Disliked this users' posts.
    226
      Joined: 06 October 2016
      Posts: 72
     

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. 


1 Anonymous member praised this


Back to Investment & Financial Matters  ·  Non-Car Related Top Reply to this topic



Quick Reply



Tags: crypto bitcoin ethereum, bitcoin and 6 more...

0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users