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  1. #3241
    Ignorant. Just ignorant.
    Join Date
    Jan 2005
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    Irresident
    Posts
    898

    Default

    Out of idle curiosity, does the "Gold Standard" mean that a nation can only issue money to the value of it's gold reserves?

    If it does, how is the "price" of gold set and maintained?

  2. #3242
    Guru
    Join Date
    Dec 2006
    Location
    New Zealand.
    Posts
    2,909

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    Buddy,
    The government fixes the price of gold to buy and sell gold at a set rate say for example $1000 per oz...the fixed price is used to determine the value of the currency... so 1 dollar would be equal to 1/1000 an oz of gold...the problem with the gold standard is the supply of gold couldn't match the pace of the growth of the global economy...
    Did you know there are cryptocurrencies backed by gold???
    Jbmurc can have his crypto backed gold if he wanted...
    cc
    >>>http://www.coinmarketcap.com
    <<<
    The fastest growing asset class the world has ever seen

  3. #3243
    Guru
    Join Date
    Dec 2006
    Location
    New Zealand.
    Posts
    2,909

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    Gold backed crypto currency cake...
    You can have your cake and eat it all too...

    ...
    Geeze dobby...
    Bitcoin hits $7100us tonight I'm back in...
    cc
    >>>http://www.coinmarketcap.com
    <<<
    The fastest growing asset class the world has ever seen

  4. #3244
    Member
    Join Date
    Jun 2011
    Location
    Wellington
    Posts
    79

    Default

    Have you ever done the analysis to show how much you make and lose trying to time the market?
    I setup weekly automatic payments to dollar cost average into crypto.

    Easy Cypto has the best fees. Choose to use my referral and I'll earn 10% of the fees they make from you :-)

    https://www.easycrypto.nz/?ref=14255

    Vimba seems to have less problems for ANZ customers. Choose to use my referral and we'll each earn $20 worth of Crypto.

    https://vimba.co/register?referrer=jdkmlQeq

  5. #3245
    Guru
    Join Date
    Dec 2006
    Location
    New Zealand.
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    2,909

    Default

    Quote Originally Posted by smpl View Post
    Have you ever done the analysis to show how much you make and lose trying to time the market?
    Yeah man way up got out at a good price as crypto started to corona crash...
    But crypto been looking mighty fine lately so I'm coming out of tether when bitcoin hits $7100....
    cc
    >>>http://www.coinmarketcap.com
    <<<
    The fastest growing asset class the world has ever seen

  6. #3246
    Senior Member
    Join Date
    Sep 2009
    Posts
    1,323

    Default

    Quote Originally Posted by Crypto Crude View Post
    Yeah man way up got out at a good price as crypto started to corona crash...
    But crypto been looking mighty fine lately so I'm coming out of tether when bitcoin hits $7100....
    cc
    What about the house?

  7. #3247
    Guru
    Join Date
    Dec 2006
    Location
    New Zealand.
    Posts
    2,909

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    Quote Originally Posted by kiora View Post
    What about the house?
    Pretty much good to go now but October November this summer!....
    cc
    >>>http://www.coinmarketcap.com
    <<<
    The fastest growing asset class the world has ever seen

  8. #3248
    Senior Member
    Join Date
    Sep 2009
    Posts
    1,323

    Default

    Quote Originally Posted by Crypto Crude View Post
    Pretty much good to go now but October November this summer!....
    cc
    Good luck.Should be getting cheaper.Buyers market?

  9. #3249
    Guru
    Join Date
    Dec 2006
    Location
    New Zealand.
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    Quote Originally Posted by kiora View Post
    Good luck.Should be getting cheaper.Buyers market?
    Thank you,
    Everything is or will be a buyer's market...
    Would have thought crypto would have crashed more than anything, but after bitcoins initial slide to $4100 ... now at $6700 looking way better... the crypts far more volatile and risky than stocks and are down by less...! Amazinggggg
    cc
    >>>http://www.coinmarketcap.com
    <<<
    The fastest growing asset class the world has ever seen

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