Remember a couple weeks ago everyone was "selling gold to buy Bitcoin"?

Discussion in 'Trading' started by contango321, Dec 28, 2017.

  1. Visaria


    Both of you are correct. It's simply a case of practical v statistical significance.
    #11     Dec 29, 2017
  2. Pekelo


    Crypto math checks out! :)
    #12     Dec 29, 2017
    Here4money likes this.
  3. helgen_1


    I disagree. Since the beginning of December it has been pretty clear. There is also a reason for it. It will attract some of the same players - think 'storage of value'.

    Got to love differing opinions.


    #13     Dec 29, 2017
  4. sle


    You are going to make an opinion regarding correlation based on a 20 day sample? That's bold :)
    #14     Dec 29, 2017
    Here4money likes this.
  5. LOL cherry picking last few weeks. Oh boyee Gold broke $1300!!!!

    "Only" needs to go up a little less than $700 to surpass its ATH from 7 friggen years ago.

    Meanwhile blink and BTCUSD could be up (or down) $700 in an hour.
    #15     Dec 30, 2017
  6. True. Point?
    #16     Dec 30, 2017
  7. Figuratively one crawls, the other leaps. Why would anyone think they are correlated?
    #17     Dec 30, 2017
  8. Overnight


    They aren't correlated. Bitcoin is not a "safe haven". Gold is. When people wish to hedge against inflation and geopolitical risk, they are not going to put all their shit into bitcoin. They are going to head into gold, the standard-bearer for many millennia.
    #18     Dec 30, 2017
  9. That much you got right.

    While gold has been around since forever .. very little time was it "money". Mostly a shiny trinket like sea shells and rocks.

    Good luck with lugging gold brick to Wallyworld to get a loaf of bread when the shit hits the fan.
    #19     Dec 30, 2017
  10. Overnight


    It is a store of value. Good luck accessing your wallets after the EMP hits and wipes all electronic data from the networks, your own computers and all other electronic devices.

    To be honest, when the shit hits the fan, the only true currency will be food, water and ammunition. Let's not kid ourselves here.
    #20     Dec 30, 2017
    ironchef likes this.