The relationship between Ethereum and gold
bitcoin, a blockchain based digital currency, is often regarded as a global safe haven asset like gold. In this age of global turmoil, even gold has become unreliable and may be confiscated as India has. Some people have begun to think that bitcoin can replace gold, because bitcoin not only has the reserve capacity of gold, but also has some capabilities that gold does not have, such as low handling charges, rapid transfer capacity, decentralization and so on. With the increasing popularity of bitcoin and the decreasing volatility, the status of gold has been threatened
will bitcoin shake the status of gold?
gold has a long history, almost as long as the history of human civilization, and has withstood numerous tests in history. Bitcoin is less than a decade old, but its value has risen sharply. There is no support behind bitcoin. Of course, since the end of the gold standard, there has been no support from other currencies, except that there is no support from the central bank behind bitcoin. It's hard to predict whether bitcoin will exist in the next decade, a hundred years or even a thousand years.
2. A piece of paper is not money. A piece of paper with a specific drawing is money, because national credit supports it. What you believe is actually national credit. This belief leads to the fact that this piece of paper can be exchanged, but sometimes the state does not realize it. If there are too many pieces of paper, there will be problems, such as Thai baht, money from the late Republic of China, Zimbabwean currency, etc... If the state can't control foreign exchange, it will naturally have the money to go out and exchange for us dollars, RMB, etc. Bitcoin can also be used as an option
3. Bitcoin exists objectively. As long as you believe in it, it can circulate. The more people you believe in, the more valuable it is. But he was contrary to the government's right to coin. If a country's people believe in it, its central bank will be weakened or even lose its role
4. In reality, what is most like bitcoin is gold, which can not be eaten or worn, but it can be used as an equivalent exchange. It is a hard currency that has been tested by history. Of course, it is too early to say that bitcoin has been tested.
money is widely accepted as a medium of exchange. Gold is classified as money, which can be traced back to the early capitalism. At that time, gold could be used to exchange anything, but it didn't play much role. Gold is often in short supply. As a tradable tool and asset currency, it can be exchanged for a certain amount of US dollars
bitcoin has now become a means of online and offline payment, which has been accepted by many countries, but it has not been accepted by the whole world
2. The two are not irreplaceable: gold was used a long time ago, but it was rarely found and created by substitutes like gold. Bitcoin has many substitutes. Who knows what other encrypted electronic currency and technology will destroy the current market
3. Gold is a commodity, but bitcoin is not
gold is a basic commodity or hard asset that can be used in business, and can be used as a material to proce other commodities. People can also use gold for physical delivery and then make it into some other form for use. Although bitcoin is storable, it is not physical and cannot be held, felt or transferred
4. Are bitcoin and gold risk averse
bitcoin and gold are rare, their prices may be volatile, and each of them serves as an alternative investment to those who lack confidence in fiat money and monetary policy. Bitcoin trading is not as easy as gold, because people have to buy bitcoin through online trading platforms or invest in over-the-counter bitcoin trusts.
There is no direct link between gold and bitcoin
neither of them is money: money is widely accepted as a medium of exchange, and gold is classified as money. To a large extent, it can be traced back to the early capitalist period, when gold could be used to exchange for anything, as a tradable tool and asset currency, to exchange for a certain amount of US dollars
bitcoin has now become a means of online and offline payment, and many countries have accepted this way, but it has not been accepted by the whole world
< H2 > extended data:
unlike all currencies, bitcoin does not rely on specific currency institutions to issue. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, And the use of cryptography design to ensure the security of all aspects of money circulation
the decentralized feature and algorithm of P2P can ensure that it is impossible to artificially control the value of bitcoin by mass manufacturing. The design based on cryptography can make bitcoin only be transferred or paid by the real owner
This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcityPermanent magnetic drum separator is mainly composed of cylinder, roller, brush roller, magnetic system, tank body and transmission part. The cylinder is welded by 2-3mm stainless steel plate, and the end cover is cast aluminum or workpiece, which is connected with the cylinder by stainless steel screws. The motor drives the cylinder, magnetic roller and brush roller to rotate through the recer or the stepless speed regulating motor. The magnetic system is an open magnetic system, which is installed in the cylinder and exposed. The magnet block is installed on the bottom plate of the yoke with stainless steel bolts, the shaft of the yoke extends out of the cylinder, and the shaft end is fixed with a crank arm. The magnetic deflection angle can be adjusted by pulling the crank arm, and it can be fixed by the pull rod after proper adjustment. The working area of the tank body is made of stainless steel plate, and the frame and other parts of the tank body are welded with ordinary steel
the magnetic circuit of magnetic separator adopts five pole magnetic system. Each magnetic pole is bonded by ferrite and NdFeB permanent magnet block. It is fixed on the magnetic guide plate through the central hole of the magnetic block with screws. The magnetic guide plate is fixed on the shaft of the cylinder through the bracket. The magnetic system is fixed and the cylinder rotates. The polarity of the magnetic poles is arranged alternately along the circumference, and the polarity is the same along the axis. The drum is made of stainless steel non-magnetic material, which is sheathed outside the magnetic system. The non-magnetic material is used to prevent the magnetic line of force from entering the selective zone through the cylinder and forming a magnetic short circuit with the cylinder. Non magnetic materials should also be used at the position of the tank close to the magnetic system, and ordinary steel plate or hard plastic plate can be used for the rest. For example, Yantai Xinhai mining machine's permanent magnetic drum separator has the advantages of simple structure, reliable operation, saving power consumption, suitable for the site, so it is widely used
when there is a trust crisis in the world's major currencies, people's first thought is to buy gold to avoid risk. When the trust crisis in the world's major currencies graally passes, they can throw away gold to prevent gold from plummeting
the above are personal opinions, not necessarily all right, just for reference!
--- generally speaking, when a country's currency appreciation, its gold reserves are larger, but the devaluation does not necessarily mean that its gold reserves are reced; Examples can be found in China and Japan. We should know that the yen is often devalued for the sake of trade; I don't care about the example of China. On the contrary, if you want to say that if you have more gold reserves, the currency will appreciate, that is unreasonable. Exchange rate is the comparison of purchasing power, and its essence is the comparison of economic strength
2. If someone deposits a large amount of cash in the people's Bank of China and transfers it to the United States, if he wants to withdraw cash in the United States, does the Bank of America need to ask for the same amount of gold in the Bank of China. Not money
- - it's not entirely true that gold is coming and going, which wastes transfer costs and custody costs. In today's advanced communication and technology, it's inconceivable to use gold for delivery. In addition to gold, there are many other international reserves, such as payment units. Generally speaking, in the banking system, gold is only used for clearing and position leveling< The economic strength of a country is directly related to its gold reserves
- - generally speaking, with strong economic strength and developed instry, the ability to buy gold will be greatly enhanced, and processing needs a lot of gold, so those with strong economic strength naturally need a lot of gold reserves, one for finance, the other for instry, and the third for luxury goods< Only the banks that can store gold in the world have the right to issue currency
- in theory, it can be said that, but in fact, it is too wide. Money is compulsory and legal by the state, and can not be issued by any bank with gold. In fact, there is no gold. As long as we have the power to issue currency, there will be a lot of gold right away. China 49 years ago proved that. Of course, issuing currency by banks without gold reserves was a disaster for users, as was the case in the Yuan Dynasty, the Ming Dynasty and the Republic of China< The military expenditure needed by the United States to fight against Iraq has reced the gold reserves of the US Treasury, and its currency has depreciated e to the decrease of the gold reserves.
- this is too far fetched. The US military expenditure is hundreds of billions every year. The war in Iraq is not the main reason. The sluggish economic development is the result of trade measures and monetary policy, Although the status of the US dollar can no longer be described by us gold, it does not need gold to support it. Considering the trade deficit and capital surplus of the United States, it is making great use of the gold reserves of other countries. From a certain point of view, many of the gold reserves of China and Japan are actually serving the United States.
The strength of the US dollar in the foreign exchange market is an important factor affecting the price of gold market. The mechanism between us dollar and international gold price is as follows:
1. Gold and US dollar foreign exchange are important financial asset instruments that people choose to invest, each with different characteristics. In essence, the US dollar is an disrespectful credit currency and debt financial asset. In the era of credit, gold is undoubtedly a kind of financial asset and one of the few non debt financial assets
2. The US dollar is internationally recognized as a hard currency. Gold has not been monetized for more than 30 years, and it has become the most reliable international gold reserve. There is a trade-off between the two, which means the dollar will weaken and the price of gold will rise The gold market in the world is generally priced in US dollars. When the U.S. dollar depreciates, the price of gold in other currencies also shows a decline, because the U.S. dollar price of gold has not changed or has little change, thus stimulating non-U.S. housing. The increase of gold demand eventually leads to the rise of international gold price The U.S. GDP accounts for 1 / 4 of the world's GDP, foreign trade ranks first in the world, and the world economy is deeply affected by it. The price of gold is inversely proportional to the quality of the world economy. Therefore, the US economy and the US dollar exchange rate have a direct impact on the international gold market. Price it can be seen that the strength of the US dollar is basically inversely related to the international gold price, and the former is the relationship between the latter's influence and influence, decision and decision. The premise of US dollar exchange rate and gold price mechanism the normal mechanism of interaction between us dollar exchange rate and gold price is restricted by some preconditions
this premise is an important factor affecting the gold price, including the stability of the international geopolitical situation, the stability of the international economic and financial situation, and the absence of major turbulence. Only when the International Geopolitics, international economic situation and international financial situation are relatively stable
extended data
exchange rate system
also known as exchange rate arrangement: it is a system commonly used by countries to determine the exchange rate of their own currency and other currencies. It is a systematic regulation made by various countries or the international community on the principles, methods, methods and institutions for determining, maintaining, adjusting and managing exchange rates. The exchange rate system has a great influence on the exchange rate decisions of various countries
According to the fluctuation of exchange rate, exchange rate system can be divided into fixed exchange rate system and floating exchange rate systemfixed exchange rate system is a kind of exchange rate system which takes the base currency itself or the legal gold content as the benchmark to determine the exchange rate and the exchange rate is relatively stable. There are different fixed exchange rate systems under different monetary systems
floating exchange rate system refers to an exchange rate system in which a country does not stipulate the gold parity between the local currency and foreign currency and the boundary of exchange rate fluctuation, and the monetary authority no longer undertakes the obligation of maintaining the boundary of exchange rate fluctuation, and the exchange rate floats up and down freely with the change of supply and demand in the foreign exchange market. This system has existed for a long time in history, but its real popularity came after the collapse of the fixed exchange rate system centered on US dollar in 1972
international monetary system, international gold standard, gold exchange standard, Bretton Woods system, Triffin Dilemma, special drawing rights, Jamaica monetary system, European monetary system, European monetary exchange rate mechanism, fixed exchange rate, floating exchange rate, adjustable fixed exchange rate, managed floating exchange rate, linked exchange rate, dollarization, exchange rate target zone
International Monetary System: refers to the principles, measures and organizations established by governments to play the role of world currency in the international scope in order to meet the needs of international trade and international payment. It is the sum of the international monetary system, international financial institutions and the international monetary order formed by custom and historical evolution
international gold standard: it is a monetary system in which gold of a certain weight and quality is used as the base currency and a fixed exchange relationship between various currencies and gold in circulation is established. Its characteristics are: bank notes can be freely exchanged for gold coins; Gold coins can be cast freely; Gold can be exported and imported freely; All the money reserves are in gold; Gold is used in international settlement
The Bretton Woods system is a man-made international monetary system, the core content of which is that the US dollar is linked to gold and the currencies of various countries are linked to the US dollar Triffin's dilemma: in order to meet the needs of world economic growth for the growth of international means of payment and reserve currency, the supply of US dollar should continue to grow; The increasing supply of US dollars will make it increasingly difficult to maintain the convertibility between US dollars and gold. This dilemma of US dollar points out the inherent instability of Bretton Woods system and the inevitability of crisis Jamaica agreement: the foundation for the formation of a new international monetary system, whose core ideas are: diversification of exchange rate arrangements, non monetization of gold, diversification of international reserves and diversification of balance of payments adjustment mechanism Fixed exchange rate system: a country's government sets the exchange ratio between its own currency and foreign currency in legal form, and limits the fluctuation of exchange rate to a small rangefloating exchange rate system: it refers to the exchange rate that is not restricted by parity, and is mainly based on market supply and demand, and is adjusted by the market mechanism. The government does not specify the exchange ratio between domestic currency and foreign currency, nor does it limit the fluctuation range of exchange rate
adjustable pegging exchange rate system: it refers to the legal parity between the domestic currency and a major foreign currency and the range of allowed exchange rate fluctuation obtained by the government's pre-determined, public commitment and intervention in the market. However, the legal parity can be adjusted regularly to correct the imbalance of international payments by devaluation or appreciation of currency, This is an international exchange rate system based on the Bretton Woods system
managed floating exchange rate: the long-term trend of exchange rate is not affected by government management, but determined by market supply and demand, but the short-term fluctuation of exchange rate is affected by the intervention of monetary authorities; Also known as dirty floating
source of reference:
network exchange rate
Network gold