You probably think it’s a coincidence that gold broke out of an 11-year consolidation against Bitcoin at the exact moment spam started flooding the chain in February 2023? Now, as the anti-spam war is reaching its peak, gold has once again fallen back below that trendline for the first time in 3.5 years. What do you think happens to this trend if the anti-spam effort loses in September and Bitcoin no longer competes with gold as a monetary commodity? image

Replies (3)

I was right about this one, as it seems. Since the BIP-110 chain tip stalled, Gold has pumped over 10%. The sudden price reversal started just hours before block 961,632 got mined. I watched the chart live. It gained about 4% in a single day. Prediction: Over the next few years Gold will probably massively outperform Bitcoin. All downstream effects of eroding the monetary use of the protocol. Thanks Big Bitcoin. View quoted note →