Gold dips under $1,800 for the first time in months

Discussion in 'Bullion Investing' started by potty dollar 1878, Feb 4, 2021.

  1. GoldFinger1969

    GoldFinger1969 Well-Known Member

    $1,800 is great if gold is going to $3,000 in 2 years. :D
     
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  3. BobStockington

    BobStockington New Member

    Lets hope it can!
     
  4. fretboard

    fretboard Defender of Old Coinage!

    Yep, it dropped again to $1783. Anyone who has a small pile, won't worry about it at all, or they shouldn't. Better, I should say I'm not concerned! :D
     
  5. GoldFinger1969

    GoldFinger1969 Well-Known Member

    BitCoin is simply sucking all the "fear" investment that would go into gold. :(
     
  6. fretboard

    fretboard Defender of Old Coinage!

    Yes, BitCoin is certainly taking some of the investment action away from gold, no doubt about it! :D

     
  7. Tater

    Tater Coin Collector

    It will be interesting to see if this is a fade or if this is the new reality. Maybe the bitcoin is the flashy gold for millennial's.
     
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  8. Tater

    Tater Coin Collector

    Right now the premiums to make the switch will suck up most of the profits.
     
  9. GoldFinger1969

    GoldFinger1969 Well-Known Member

    BARRON'S had an article noting that a good portion of the BitCoin "mined" is from the region of China with human rights abuses.
     
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  10. Tater

    Tater Coin Collector

    Not Russia?
     
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  11. GoldFinger1969

    GoldFinger1969 Well-Known Member

  12. Tater

    Tater Coin Collector

  13. baseball21

    baseball21 Well-Known Member

    It's never been a secret that it's the most popular in Asia, the more that have been mined the more computing power you need to do the next one
     
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  14. Tater

    Tater Coin Collector

    I haven't been tracking cryptos but how are the others like Lithcoin and Ethercoin doing. My spelling could be off.
     
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  15. baseball21

    baseball21 Well-Known Member

    Litecoin is significantly up at over 200 now, Ethereum (the second biggest one) is just about 2k now,

    https://goldprice.org/cryptocurrency-price/tether-price
     
    Last edited: Feb 20, 2021
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  16. Tater

    Tater Coin Collector

    About 5 years ago I was just about ready to buy in on the Ethereuym and buy one Litecoin but I got cold feet. Too bad.
     
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  17. baseball21

    baseball21 Well-Known Member

    I wouldn't be surprised to see Ethereum continue to go up right alone with bitcoin. There's a big market gap size after that one
     
  18. GoldFinger1969

    GoldFinger1969 Well-Known Member

    I still don't understand the "mining" part.....they solve equations and get rewarded in BitCoins ?

    This is like from some Sci-Fi movie..........:D
     
  19. Tater

    Tater Coin Collector

    I hear you. I imagine some dude in his mother's basement late at night checking his "mining operation" between D and D games just about ready to earn a Bitcoin when the dreaded Microsoft and Java update and reboot start and everything is lost just like a cave in in a traditional mine shaft.
     
  20. Santinidollar

    Santinidollar Supporter! Supporter

    Gold fell below $1,800 this week as the 10 year Treasury hit 1.3 percent. There’s definitely a connection there.
     
  21. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Maybe, but I doubt it. Rising rates from faster GDP growth -- and inflation -- should be good for gold.

    I think BitCoin continues to suck $$$ from gold.
     
    potty dollar 1878 likes this.
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