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Bitcoin v Gold XBT : XAU

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Garpal Gumnut

Garpal Gumnut

Ross Island Hotel
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Thanks to Xe, I have again been able to find some tasty charts of BTC/Gold.

They track how many ounces of gold it takes to buy one bitcoin. I enclose some daily to a yearly chart.

I don't discount crypto btw, it may have some value going forward but not at these prices for me, and I prefer the vibe of ETH were I to jump in. Gold has stagnated somewhat and BTC is in a longer term downtrend.

I mean to say you got to buy something when it gets very cheap when your gold bar starts to appreciate, if it does.

Interesting times.




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gg
 
Garpal Gumnut said:
Thanks to Xe, I have again been able to find some tasty charts of BTC/Gold.

They track how many ounces of gold it takes to buy one bitcoin. I enclose some daily to a yearly chart.

I don't discount crypto btw, it may have some value going forward but not at these prices for me, and I prefer the vibe of ETH were I to jump in. Gold has stagnated somewhat and BTC is in a longer term downtrend.

I mean to say you got to buy something when it gets very cheap when your gold bar starts to appreciate, if it does.

Interesting times.




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gg
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gg, is that inferring that gold is undervalued? What's the play here?
 
Sean K said:
gg, is that inferring that gold is undervalued? What's the play here?
Click to expand...
My take on it is that Gold is very undervalued given the Fed, Geopolitics and overvalued Tech stocks on NASDAQ.

I believe it will take very little to have a much bigger fall in value or change for the worse, in all of the above.

BTC has been sucking up much of the money that traditionally went to Gold when these events were about to happen.

It has been crazily overpriced.

Being an anarchist at heart I do believe Crypto has a place, although ETH for me given its platform is a more pure play.

Fear as alway is the key. I can quickly buy anything with my gold bar. Could I, if if I held Crypto and everything corrected down?

gg
 
Garpal Gumnut said:
My take on it is that Gold is very undervalued given the Fed, Geopolitics and overvalued Tech stocks on NASDAQ.

I believe it will take very little to have a much bigger fall in value or change for the worse, in all of the above.

BTC has been sucking up much of the money that traditionally went to Gold when these events were about to happen.

It has been crazily overpriced.

Being an anarchist at heart I do believe Crypto has a place, although ETH for me given its platform is a more pure play.

Fear as alway is the key. I can quickly buy anything with my gold bar. Could I, if if I held Crypto and everything corrected down?

gg
Click to expand...
Just an update on how many ounces of Gold one would need to buy one Tulip, sorry a Freudian slip, one Bitcoin.

BTC now down to 22.7783 oz give or take a touch on a bar.

If one were that unwise to trade an ounce of the good stuff for a "Coin" existing only in the Ether.

I'm considering going all in on Gold.

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gg
 
Garpal Gumnut said:
I'm considering going all in on Gold.
Click to expand...

I think the mid term thesis on gold breaking up is correct, but I'm waiting for it to break. I thought it did late last year and started buying but JP Morgan has deeper pockets than I and stopped the run. Having said that, at the moment, it seems the risk to the break in the flag is to the upside as opposed to down. Although, I do know your upper resistance line is slightly different to mine and it's already well broken on your chart I think. But even so, if we do believe in the gold bull thesis, who cares what's happening in the very short term and a breakdown is just a buying opportunity. (I'm still working on the courage of my convictions mindset.)
 
Garpal Gumnut said:
I'm considering going all in on Gold.
Click to expand...
as is one of the freebie commentariat that sends a weekly the inbox (get what U pay for).

....There are a lot of dillweeds out there who play the chart game and say gold has had negative returns since 2011. True. But if you go back to the lows of 2000, gold has actually returned more than stocks. That was my thesis when I invested in gold in 2005—that it would outperform stocks over time. And for most of the last 17 years, my allocation to gold has met or exceeded my stock allocation. I don’t regret that, though the last couple of years have admittedly been difficult.

If an asset goes down or sideways for a period of time, investors lose faith. I used to have a Daily Dirtnap subscriber with enormous gold holdings who wrote me lengthy emails expressing his frustration with gold. I played gold psychologist for a while, but eventually left him to his own devices. I had my own problems with gold. How else to explain the fascination with bitcoin over the past few years? Who needs gold? It doesn’t go up?

It might be tempting to replace your gold holdings with bitcoin, but bitcoin does not solve any problems you currently have. When you add it to your portfolio, it increases your risk. It is highly correlated with tech stocks—it has turned into a long-duration asset. When you add gold to your portfolio, it decreases your risk. It isn’t much correlated with stocks or bonds or anything else. Everyone should hold a little gold, even if only for diversification purposes.

So, I think things are going to get better soon. I am somewhat sad to say that at the moment, it is my best idea. Kind of tough to pick stocks in a correction. I’m not that good.

Of course, all of this could turn to dust if gold breaks down instead of up. Gold does have an infinite capacity to disappoint. But I am excited that people I respect are getting excited about it. I have good company in the trade...

Jarad Dillian - The 10th Man - This Time I Mean It
 
Just a morning update on BTC and Gold.

BTC has completed a double head and shoulders and I weep for daffodils and tulips. It ain't looking good.

Gold is stationary so the central bankers are either asleep or coking the night away in Europe and the USA. Vlad is probably playing chess still.

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gg
 
As Gold heads for $USD2000, BTC has plummeted overnight by 7% and falling.

It takes closer to 20oz and falling of Gold to buy one Bitcoin, which seems like a lot to me.

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gg
 
It would appear that War unlike Plague favours Gold over Bitcoin.

One BTC can now be bought with less than four 5oz bars of Gold.

Hardly a fair exchange.


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gg
 
I must admit that I am tiring of this Bitcoin fantasia.

It is a post Boomer American invention and as a proud boomer who loved boomer America I will accept nothing except Bitcoin's complete annihilation.

It alone is preventing Gold from cruising to USD$3000-5000.

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gg
 
Less than good news for Gold bugs this morning.

BTC has recovered with the clarification of the Tsar's intentions while Gold has retraced.

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gg
 
Trader X said:
The debate over which asset is a better store of value and safe haven should now be decided. Gold is both and Bitcoin is neither.
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Thanks @Trader X .

Your summary is spot on, and speaking of spot, my good friend Gold sits at $USD1889 for the weekend.

I must admit to having been drawn away by the smell of blood in the Crypto space but after sitting with the Finance and Expenditure arm of "The Eat, Drink and Be Merry Committee" last night at the hotel I have awoken to decide that Crypto for me is a Volatility indicator rather than a store of value or wealth.

The madmen rush about.

I will buy Gold under $USD1800.

The XBT:XAU remains in the ascent with Bitcoin becoming too expensive in Gold ounces for this little digger.

gg
 
Sean K said:
We need it to stay above breakout 1850, GG. I'm a bit overbalanced in yellow stuff at the moment.
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Volatility may spread from the American markets to all assets and a dip below $USD1800 is not impossible for Gold.

My overall sentiment for gold is very bullish.

I would much prefer to be OW Gold than OW NASDAQ or Crypto.



gg
 
1 XBT = 19.8449 XAU
Feb 27, 2022, 21:56 UTC
Feb 28, 2022 07:56 AEST

Gold starts trading in about 1 hour.

When do you guys down south get off sook time and back on to Australian time ? It must be soon.

gg
 
Garpal Gumnut said:
1 XBT = 19.8449 XAU
Feb 27, 2022, 21:56 UTC
Feb 28, 2022 07:56 AEST

Gold starts trading in about 1 hour.

When do you guys down south get off sook time and back on to Australian time ? It must be soon.

gg
Click to expand...

Mad Vlad has gone full troppo. Looks like he's bogged down and Ukraine hasn't rolled over like he thought. Answer, hey, I've got nukes!

First Sun in April I think.
 
Bitcoin made a spirited rally yesterday presently trading at $43,000 while Gold appreciates as it does in war.

BTC v Gold has favoured BTC as the Russian oligarchs are forced to convert their il-gotten gains in to a transmissible "currency" back to Mother Putin.

This has not been lost on the cousins at Langley, nor by the comrades in Osint and Anonymous.

If this war spreads an attack on either BTC or Gold will begin.

It will be difficult to destroy gold, as it has survived bigger empires than Russia over millennia.

Bitcoin on the other hand is set for a DDOS or worse.

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gg
 
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