Well I'll tell you this.. I ain't walking to the jeweller and cashing any of the hard stuff. Yes I agree the SPECULATORS will hurt the comex price; but when it comes to delivery from a COMEX contract.. HAHAHA that's the fire works.
Gold works a lot slower.. Bitcoin is hyper fast and volatile. If Bitcoin get's too high in the eyes of those who are keeping gold's price low.. well.. it's something to consider.
The thing with gold has always been that when the price goes up, miners ramp up production. So there is a supply increase any time gold goes up. Not to mention there is asteroid mining etc that is going to start becoming a thing in the coming decade. I saw report out of NASA where they were offering incentives to companies willing to mine asteroids, the moon, etc over the coming years... All things that are going to impact the price. Not to mention how much easier it is to counterfeit gold compared with bitcoin. That's a major concern for anyone buying gold. Tungsten coated with a thin layer of gold feels and looks an awful like the real thing...
Of course the bullion banks play games.. old news. Mining an asteroid will cost billions of dollars.. cost vs reward.
Now what I keep telling you is the amount of unearthed gold compared to what is traded DAILY COMEX is completely fabricated. Banks borrow gold from each other 100 vs 1 . I said re-hypothecation for a reason. It's real. Now bitcoin does not have re-hypothecation (yet). In fact, anyone hoping for 25K Bitcoin or 100K Bitcoin or 1 Million K bitcoin has a lot more worrying to do. You think broke governments won't get all up in there? Of course they will.
Why did governments get RID of the gold standard to begin with.. (they didn't have enough of it). You think they have enough of it now? Or is it easier to control with manipulation. I do not think we are going back onto a gold standard.. in fact the future is digital (assuming we don't EMP ourselves).
Gold is here to stay..
Bitcoin is still a baby..
Both are speculative assets and have positives and negatives to them both. Bitcoin is just so young; you haven't seen the negatives yet.
I know that gold is being suppressed, but what is going to change that? It's been the case for several decades now with no end in sight. It's the reason I mostly abandoned precious metals investing long ago. Though I do still old some physical.
Regarding space mining...
It gets much cheaper when NASA says they will subsidize it:
https://www.washingtonpost.com/technology/2020/09/10/moon-mining-nasa-search/
In my opinion the only way bitcoin doesn't succeed in becoming massively valuable and eating a big part of everyone's lunch (especially gold's) is if every large country got together and banned it outright. It be a big undertaking and would take a coordinated effort but it could, in theory, be done. Barring that from happening it's from the lower left to the upper right for bitcoin as far as I'm concerned.
Like a coordinated Covid-19 effort type coordination.
I hear what you are saying completely. Bitcoin bypasses so much regulation, such bullshit from the banks..
I think it WILL cross a certain barrier where it will be too much of a threat. I also try to think about how any central bank can print and buy. What stops them from printing and buying crypto? Gold isn't so easy (physical) because you need to have it in your hand. Paper contracts are easy.
Though it becomes a lot cheaper when that gold in your hand is simply gold plated tungsten or copper. ;)
Theoretically what should happen to the price of gold real gold without manipulation