One Bitcoin Is Now Worth More Than One Ounce of Gold (techcrunch.com)

An anonymous reader quotes a report from TechCrunch: For the first time ever, the price of one bitcoin has surpassed the price of one ounce of gold. While today's swap can be attributed to a good day for bitcoin (up ~3%) and a bad day for gold (down ~1.3%), the big picture is that bitcoin has more than doubled in the last year (up ~185% from a year ago) while gold is essentially trading exactly at the price it was a year ago. Even though bitcoin and gold are both thought of as alternative assets, they don't usually trade in correlation. Still, it's notable that bitcoin has (at least temporally) surpassed the price of gold. Gold is quite literally the "gold standard" of alternative assets, often used by investors to hedge against potential losses in more traditional assets like real estate and the stock market.

Comments

Re:One bitcoin is worth more than gold to idiots

[ASDFnz]

Gold has several properties that make it useful - it is non-reactive, corrosion resistant, quite biocompatible (has been used by dentists for centuries), an excellent conductor and so on.

Remember, this is a world where the laws of physics have changed (yeah, it is ridiculous but he bought it up) so there is no electricity.

Gold would not be useful for any of your applications (especially being an excellent conductor) in that parallel universe.