Zimbabwe launches gold coins to tackle soaring inflation

[Martin Everson]

Is the gold standard coming back?

https://www.bbc.com/news/world-africa-62298319

 

[lostguy]

They needed to invent something!

 

[void]

gold standard is their second best option, good for them, lesson learned (at least to some extent)

 

[369]

planned long time ago.
all gold miners in zimbabwe are already forced for years to sell their gold directly to their central bank and best of all they dictate the price they get

Is the gold standard coming back?

https://www.bbc.com/news/world-africa-62298319

to reply on that once this happen people will realise how gold outperformed bitcoin in this decade

 

[JohnnyDoe]

to reply on that once this happen people will realise how gold outperformed bitcoin in this decade

26 July 2012:
Gold price: $1,618
Bitcoin price: $8.8

26 July 2022:
Gold price: $1,718
Bitcoin price: $20,871

10 years performance:
Gold: +6.18%
Bitcoin: +237,070%

Really a bad decade for bitcoin

 

[369]

26 July 2012:
Gold price: $1,618
Bitcoin price: $8.8

26 July 2022:
Gold price: $1,718
Bitcoin price: $20,871

10 years performance:
Gold: +6.18%
Bitcoin: +237,070%

Really a bad decade for bitcoin

i said this decade........which means starting from 2020
also how many bitcoin did you had from $8.8 or even $100 ?

 

[JohnnyDoe]

i said this decade........which means starting from 2020

Ah ok, you derive data from 2 years

also how many bitcoin did you had from $8.8

Zero. Even though I mined it when it was worth nothing, but that computer is gone.

or even $100 ?

I won’t tell you

26 July 2020
Gold price: $1901.85
Bitcoin: $9714.90

26 July 2022:
Gold price: $1,718
Bitcoin price: $20,871

2 years performance:
Gold: -9.67%
Bitcoin: +114.83%

What a bad ”decade” for bitcoin!

Ps. If you want to take the 1 january prices the story doesn’t change.

 

[clemens]

Something to fall back on. Indeed good for Zimbawe.

 

[Martin Everson]

If it helps Zimbabwe reduce inflation its a win. It will be interesting to see how effective the implementation is and how it fairs over next few years.

 

[jjrapy]

Ah ok, you derive data from 2 years

Zero. Even though I mined it when it was worth nothing, but that computer is gone.

I won’t tell you

26 July 2020
Gold price: $1901.85
Bitcoin: $9714.90

26 July 2022:
Gold price: $1,718
Bitcoin price: $20,871

2 years performance:
Gold: -9.67%
Bitcoin: +114.83%

What a bad ”decade” for bitcoin!

Ps. If you want to take the 1 january prices the story doesn’t change.

So why are you putting price to bitcoin or even calculating performance if you just post everywhere that 1 btc is 1 btc, you don’t care about the price and bla bla bla

 

[JohnnyDoe]

So why are you putting price to bitcoin or even calculating performance if you just post everywhere that 1 btc is 1 btc, you don’t care about the price and bla bla bla

Because I am comparing btc with gold using a common parameter. I could do the same using the usual Lamborghini: how many btc and how many kilos of gold did you need to buy one 10 years ago and how many do you need today? That’s assuming someone is willing to sell a Lambo for some gold bars.