I have a few questions regarding gold

New_Cliche
New_Cliche

I have a few questions regarding gold.

Does gold's value come simply from people believing that it's worth that much for so many years? If so, how is it different from bitcoin?

What will happen if people stop believing that its worth so much?

How does gold protect from market or economic crash like 2008?

Why do hedge funds own so much gold?

What are other or better ways to protect yourself from economic crashes like the one in 2008?

Where is the gold that you buy online? I'm not talking about gold in its physical form.

All urls found in this thread:

bbc.com/news/magazine-21969100
worldatlas.com/articles/did-you-know-the-gold-in-the-earth-s-core-could-cover-the-earth-in-a-knee-high-layer.html

takes2long
takes2long

If so, how is it different from bitcoin?
not by much, bitcoin is harder to confiscate but golds health and value is not dependent on the wholeness of internet.

while governments could force isps to filter out the bitcoin protocol effectively making the currency worthless enforcing a gold ban is much more difficult if citizens decide to hide it and privately trade.

so it all depends what do you expect to happen in your country in which one is better, but they both serve the same purpose.

How does gold protect from market or economic crash like 2008?
by doubling in price in a few years.

SomethingNew
SomethingNew

gold is real with centuries of history as a currency/desirable item

bitcoins are not real and attracting unwanted attention from governments that see it as a threat

gold/silver bugs will tell you: if you cant hold it, its not yours. This is their guide in choosing a secure investment, you have to decide if this is of any value to you position or not.

TreeEater
TreeEater

gold doubling in a few years
gold isn't a money making investment

TurtleCat
TurtleCat

gold isn't a money making investment
more like gold is not an investment it's insurance

but aside from that your observation is so goddamn idiotic given the context it kinda hurts.
gold was sub $700 pre 2008 and 2008 autumn then hiked to $1700-1800 for 2011-2013 a few times. actually that's almost tripled not doubled.

DeathDog
DeathDog

you will never ever see that again

FastChef
FastChef

doubtful we will not see greater hikes in the coming years. the only problem is even if you see golds value quadruple in usd that doesn't necessarily mean anything.

BunnyJinx
BunnyJinx

read my lips and screencap this post. NEVER. EVER.

haveahappyday
haveahappyday

sure sure, the usd is about to tank we will see gold above $3000 by the end of next year, but whatever you say.

my only problem again that doesn't mean anything to me, as my national currency is tied to the euro.

PurpleCharger
PurpleCharger

What are other or better ways to protect yourself from economic crashes like the one in 2008?
The only way to be secure from economic crises is by having a competent active management firm that operates 24/7 trade your equity. Gold is only insulation for most market crash scenarios, not all.

Bitcoin is easy to confiscate, imagine how hard it would fall if the Fed shut down all public Bitcoin exchanges.

whereismyname
whereismyname

imagine how hard it would fall if the Fed shut down all public Bitcoin exchanges.
lol. fed now has power over websites and in other countries too? sure any government action would hurt the price short term and wighout exchanges bitcoin is worth nothing.

haveahappyday
haveahappyday

Gold is so low and 2008 is about to happen again

Bidwell
Bidwell

only it will be worse. maybe by a magnitude if the crows get it right.

lostmypassword
lostmypassword

Can someone answer all the questions individually?

Methnerd
Methnerd

no

takes2long
takes2long

reading lips after 1988

Methshot
Methshot

This question is dumb so I'll give you an elegant answer.

Gold is a finite resource, your meme coins are toys the government is letting you play with.

RavySnake
RavySnake

Gold is a finite resource
only practically the amount of gold on planet earth alone could cover the surface a meter high. it's a very very abundant element actually.

coins are artificially designed to be scarce which is good but having a finite amount is not. i think bitcoin is retarded and will never be adopted for this very reason. doesn't mean you can't have fun with it short term.

TreeEater
TreeEater

only practically the amount of gold on planet earth alone could cover the surface a meter high.

stop making bull shit up

bbc.com/news/magazine-21969100

not only gold is sacarse but it takes a shit ton on resources to mine it and in top of that is being used as consumers product, meaning it now serves a purpose other than being a shining honk of metal collecting dust in a warehouse.

gold is one if not the most reliable form of currency until they find a practical an economic way to inject particles in to led.

meme coins are fun as fuck but I can guarantee you in an economic crisis no one will trade you a can of fucking tuna for them

New_Cliche
New_Cliche

stop making bull shit up
i'm not making this up it's an estimate by geologists.
worldatlas.com/articles/did-you-know-the-gold-in-the-earth-s-core-could-cover-the-earth-in-a-knee-high-layer.html
modest estimates were about feet high but i read somewhere there are good indicators it might actually be more.

Raving_Cute
Raving_Cute

Umm, no sweetie.

The value of gold comes from not only it's scarcity, utility as a currency but mostly from the fact that it's in your cellphone and we can make shiny things from it.

I would never be seen dead wearing a Bitcoin necklace.

happy_sad
happy_sad

in those estimates they also add the gold that's spread in every grain of earth but only consists of some atoms in every ton of earth or the gold in the oceans.
If you could extract all of that gold with the use of memes and magic you could cover the whole earth in a thick layer of gold...

WebTool
WebTool

i really was just arguing about the "rare element" meme.
it's not rare it's awfully abundant in the universe it comes from dying stars very stable and there is a lot of it on earth alone.

practical supply is limited but so far we found new gold deposits faster than they had been mined. we had to we experienced a population growth that was insane in the past century.

really gold can turn out to be the same as oil. people getting hysterical about it running out but then we just keep on finding it.

Disable AdBlock to view this page

Disable AdBlock to view this page

Confirm your age

This website may contain content of an adult nature. If you are under the age of 18, if such content offends you or if it is illegal to view such content in your community, please EXIT.

Enter Exit

About Privacy

We use cookies to personalize content and ads, to provide social media features and to analyze our traffic. We also share information about your use of our site with our advertising and analytics partners.

Accept Exit