We have to thank Andrei Lazanu of School No. 205, Bucharest, Romania for this solution.

Given a general Fibonacci sequence Xn , that is a sequence satisfying the Fibonnaci relation: Xn+2 = Xn+1 + Xn , I have to prove the following (where ϕ is the golden ratio):
1. If the sequence is geometric, then the ratio of the first two terms is given by X1 : X0 =ϕ or X0 : X1 =-ϕ
2. If the ratio of the first two terms is X1 : X0 =ϕ or X0 : X1 =-ϕ then the sequence is geometric.

1. If a sequence is geometric, then its terms are of the form:
X0 , X1 = rX0 , X2 = r2 X0 ,... Xn = rn X0 .

Now, I have to find r, if the sequence is Fibonacci-type. Using the definition of a geometric sequence, I obtain:
rn+2 X0 = rn+1 X0 + rn X0 rn+2 = rn+1 + rn .

I see that r must be different from 0, so I could divide both sides by r which leads to the quadratic equation:
r2 =r+1 r2 -r-1 =0 r1,2 = 1±5 2 .

So
X1 X0 = 1+5 2 or 1-5 2 =ϕor -1 ϕ .

which completes the proof of (1).

2. If the ratio of the first two terms is given by
X1 = 1+5 2 X0

then, using the recursive formula for the sequence, I obtain:
X2 = X0 + X1 = X0 + 1+5 2 X0 = 3+5 2 .

I observe that:
3+5 2 = 6+25 4 = 5+1+25 4 =( 1+5 2 )2 .

So this gives X2 = ϕ2 X0 =ϕ X1 . and I have shown 1+ϕ= ϕ2 .

I calculate X3 : X3 = X2 + X1 = ϕ2 X0 +ϕ X0 =ϕ(ϕ+1) X0 = ϕ3 X0 .

But this is not enough, I have to utilise induction to show the sequence is geometric, that is Xn = ϕn X0 for all n. In the general case, I have, using the recurrence formula for the Fibonacci sequence:
Xn+2 = Xn+1 + Xn = ϕn+1 X0 + ϕn X0 = ϕn (ϕ+1) X0 = ϕn+2 X0 .

So by the axiom of induction, as I have shown Xn = ϕn X0 is true for n=1 and 2, it is true for all n and so the sequence is geometric.

A similar proof works when X0 =-ϕ X1 .