How do you resolve this comment:
Satoshi Nakamoto: “The price of any commodity tends to gravitate toward the production cost.”
How do you resolve this comment:
Satoshi Nakamoto: “The price of any commodity tends to gravitate toward the production cost.”
I don't know ,I don't really keep up with commodities lately, but I don't think its entirely true.
It is true that producers who have a monopoly (oil) wont sell their commodity below production cost, but if there is no intrinsic demand for it, then it may very well fall below that.
Gold & Silver is pretty speculative, and it could very well fall below production cost, once cryptocurrencies replace them (as their industrial use is not that huge) compared to Oil that has a huge demand (Cars, Heating, Plastic, Medicine, etc)...
Besides the production cost is always rising due to inflation, and the commodity is inflating too,so it is hard to tell. It has to be researched.
For things like grain the production cost went down massively since the ancient times, yet the price stayed pretty much the same. A price of bread hardly changes except in inflation, shortage or famine.
heyy nice charts!! you make it in R ?
i am interested abouy historical data ....
meybe we can shared..
greatings
Hello, no I have my python scrips for market analysis.
But I am very busy these days so I only have longterm positions now (3-6 months). This year I will be very busy. I am getting married soon, so maybe in autumn I will have more time to talk about charts and markets, I am now just basically coming to steemit just to relax and talk about other stuff. I am too busy now to be stressed about short term investments.