Gold: The Basics
Bitcoin is the new gold. This is a hated idea if you are a platinum group metal PGM stacker who has been stashing their metals for years awaiting the righteous comeuppance. So now at hand it appears up comes a crazy invention to spoil the show. If you love bitcoin you love the idea. Gold was an early technology. It was likely the first and only metal experienced by humans for many a century. You could form it into things, and it looked and acted like nothing else.
Its awe-striking look and feel is as strong today as ever and it remains precious to the primitive emotions of humans at every corner of the global economy. But its use case as the place to secure your net worth in times of trouble has been surpassed by bitcoin and this is only the beginning of the rise of digital assets as a safe haven.
Bitcoin is the king of this new space and will remain so. But these are just words. The digital world is full of them: where is the evidence for this grandiose claim? Well, today China announced tariffs on the U.
Clunk, down goes the market in the U. The market recovers. Crash, down goes the market when Trump responds. So much is to be expected, a reaction as text book as you can get, but what about gold, what about bitcoin?
Now you can take the line that this is a pure coincidence, but that is long since unbelievable to me. Information and money move like a gas and its almost impossible to keep them contained. We can see in the above chart how those with big enough or close enough ears to hear what is going on are parlaying that into cash and its bitcoin and gold, but bitcoin first and foremost. Bitcoin is the new gold, but what is good for bitcoin is good for gold, so the PGM fans need not despair because the main thing that will be driving them both is sat in the White House for at least another year or so and with "luck" will still be there for a few more years on top.
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HOW DO THE DIFFERENCES BETWEEN BITCOIN AND GOLD AFFECT TRADERS?
Without a currency peg, Bitcoin prices shift depending on how many people want to buy and sell them, at what price, and in what quantity. The rate provided by Google and other Bitcoin price trackers is usually an estimate or a recently traded price on an international exchange. Google uses the Coinbase API, which gives an estimate excluding fees. Not every platform that allows you to buy and sell Bitcoin with Malaysian ringgit will trade at that exchange rate. The price displayed on Luno is unique. The supply and demand — set by buyers and sellers- are unique and therefore different from other exchanges. If an exchange sees more people selling than they are buying, the price will drop.
A brief history of digital gold currency
Days or even Not a trading advice! Jul Patience is the key with such market. Aug This is not a trading advice however! I am curious if bump is possible, will be watching;. I of course will sell this 1btc on localbitcoins with even small profit, but when You trade only on exchange You will probably have now a loss. Waiting for another one entry point or signal from ermanometry. The situation of seeking that dip can last for me until tommorow.
From @CryptoKitties to @Decentraland, the market for non-fungible tokens is expanding dramatically. #NFTs are the stock-in-trade of @OpenSea, a 'marketplace for the decentralized web' - and trading in @NonFungibles is surprisingly healthy. https://t.co/mC0BFjiivv— Crypto Briefing (@crypto_briefing) October 8, 2019
Buy gold with bitcoin
Without a currency peg, Bitcoin prices shift depending on how many people want to buy and sell them, at what price, and in what quantity. The rate provided by Google and other Bitcoin price trackers is usually an estimate or a recently traded price on an international exchange.
Google uses the Coinbase API, which gives an estimate excluding fees. Not every platform that allows you to buy and sell Bitcoin with Malaysian ringgit will trade at that exchange rate. The why does trading gold look like bitcoin displayed on Luno is unique.
The supply and demand — set by pike and sellers- are unique and therefore different from other exchanges. If an exchange sees dods people selling than they are buying, the price will drop. The same goes article source more people buying than selling.
If you have identical items — say avocados or Bitcoin — and they fetch a higher price in one place than another; people will buy and at the same time, to profit from the difference. It seems simple: just buy all the avocados or Bitcoin in the supermarket, city or country where they are cheap. Then sell them where they are expensive. Soon, the novice trader will realise that it lie a little trickier than expected.
It all depends on the market conditions. On our way to the moon, we write about all things crypto. Our blog conveys the views of Luno and the many unique opinions and characters within our team. Want to let us know how much you love our blog?
Tweet us lunomoney. Price charts Bitcoin price Ethereum price Bitcoin Cash price. About Company Careers Press. On supply and demand Exchanges are places where people who have Bitcoin can sell to those who want it. Arbitrage So, if Bitcoin trades at different prices on different exchanges, is there money to be made? Common in Bitcoin and other markets, this process is known as arbitrage.
Some more useful links: Bitcoin price on Luno How is the price of Bitcoin calculated? Luno Exchange Luno Wallet. Hot topics.