Bitcoins - How is your investment

[Mayday]

holding gold/silver for hedging inflation is fine. 1980 at $6/ounce is three times that today at close to $18/ounce. So its 3 x in 37yrs.

I pick a median house price of 100k for 1980 and its 2M 37yrs later. 20x return.

So, sure PMs go up but so do other asset classes.

The silver bubble in 2011/2012 was to small. barely hit what it peaked at 30yrs prior. Inflation should have had it pegged closer to 200/ounce but it's so corrupt the cut it down early.


Playing in PMs the banks are on the other side so they strangle it in their favour so the returns are limited to pretty much whatever currency inflation does.

It doesnt do banks any good to let PMs fly up as seen in the last silver spike that couldnt even better the previous one 30yrs ago. Metals are good for banks and govts to run countries.

[be back]

No, but that is the main reason why all fiat currencies are worth less and less as times goes by.  

We do not truly know how much gold the US has.  There hasn't been a audit of Fort Knox since the mid-50's.

The question you should be asking is why do countries even have gold reserves?  Because gold is a stable store of value... whatever currency it's dominated in.  The amount of fiat cash you are getting per ounce of gold only increases with central bank printing.  More printing = more currency devaluation.  

Seems you are trying to make a case for holding dollars that depreciate instead of something stable that retains value.  That doesn't make any sense.  

FYI, I once traded a 1oz gold coin for a vintage guitar.

the main supply of Gold in the USA isnt even in Fort Knox...

Jeez, go Google and clue yourself up.

[Mr Anabolic]

the main supply of Gold in the USA isnt even in Fort Knox...

Jeez, go Google and clue yourself up.

Wherever they say they are holding the gold... there has been NO audit and there NEVER will be.

You picked on this point because you have nothing else.  Very weak.  You cannot debate me and win.  Admit it.  

[be back]

Wherever they say they are holding the gold... there has been NO audit and there NEVER will be.

You picked on this point because you have nothing else.  Very weak.  You cannot debate me and win.  Admit it.  

you still havent told me how much an ounce of Gold is worth without discussing a currency.

And you never will...

[Mr Anabolic]

holding gold/silver for hedging inflation is fine. 1980 at $6/ounce is three times that today at close to $18/ounce. So its 3 x in 37yrs.

I pick a median house price of 100k for 1980 and its 2M 37yrs later. 20x return.

So, sure PMs go up but so do other asset classes.

The silver bubble in 2011/2012 was to small. barely hit what it peaked at 30yrs prior. Inflation should have had it pegged closer to 200/ounce but it's so corrupt the cut it down early.

Playing in PMs the banks are on the other side so they strangle it in their favour so the returns are limited to pretty much whatever currency inflation does.

It doesnt do banks any good to let PMs fly up as seen in the last silver spike that couldnt even better the previous one 30yrs ago. Metals are good for banks and govts to run countries.

Housing prices are allowed to rise because banks make trillions off all the mortgage loans.  Insurance companies make billions too.  Government makes a killing from the RE taxes and the list goes on and on.  

Silver is one of the most undervalued assets on the planet right now.  Extremely undervalued.  Banks cannot hold the G&S prices down forever.  You can act or do nothing, it's entirely up to you.

[denarii]

as long as people have faith and trust in the system of creating money its fine.
When people lose interest or governments fail to instil confidence in the money supply then your fucked.

We could use anything as a medium of exchange, as long as people believe it has value and they can also exchange it for goods and services then its acceptable, shiny pebbles and tally sticks for example...

Read the book the fourth turning

[Mr Anabolic]

you still havent told me how much an ounce of Gold is worth without discussing a currency.

And you never will...

People have traded gold for "things" other than currency many, many times in history when there were financial upheavals.  Don't make me make you look stupid, please.  

Another Gib gimmick perhaps?

[be back]

People have traded gold for "things" other than currency many, many times in history when there were financial upheavals.  Don't make me make you look stupid, please.  

Another Gib gimmick perhaps?

stop dodging the question, gold has no value to you until you exchange it for cash, how are you going to get a haircut or a quart of milk, gold shavings perhaps?

[Mr Anabolic]

stop dodging the question, gold has no value to you until you exchange it for cash, how are you going to get a haircut or a quart of milk, gold shavings perhaps?

Gold has no value huh?   lol

[be back]

Gold has no value huh?   lol

of course it has value, its value is how much you can get in currency when you exchange it.

[Mr Anabolic]

of course it has value, its value is how much you can get in currency when you exchange it.

2 posts above this, you said gold has no value.  lol


Another Gib gimmick.

[be back]

2 posts above this, you said gold has no value.  lol


Another Gib gimmick.

stop waffling, it has value based on currency, take away the currency then how much an ounce is it?

The currency gives it value...

[Griffith]

The graph of Bitcoin prices is in the shape of a classic bubble.

[be back]

The graph of Bitcoin prices is in the shape of a classic bubble.

a classic bubble?

as opposed to a mens open class bubble?

[Griffith]

a classic bubble?

as opposed to a mens open class bubble?

Textbook bubble.

[Mayday]

Housing prices are allowed to rise because banks make trillions off all the mortgage loans.  Insurance companies make billions too.  Government makes a killing from the RE taxes and the list goes on and on.  

Silver is one of the most undervalued assets on the planet right now.  Extremely undervalued.  Banks cannot hold the G&S prices down forever.  You can act or do nothing, it's entirely up to you.

Silver isnt undervalued.  It is under speculated.

Yes they can hold prices down because they hold virtual warehouses. Thats why it hasnt done shit for 6yrs and why its underspeculated. The banks cut the legs off it so nobody plays.

Sprott still spruiks the shit out of silver but he hasnt been right about anything since the housing crash.....7yrs of making wrong calls with wrong timelines. The US has probably 20yrs until govt debt is an issue. The govts will then forgive debt to avoid hyperinflation. He still hangs onto the old economic playbook which isnt followed anymore. it is corrupt. it is fucked with. they will not allow it to crash. Soooo join the party lol.

The ultimtate irony is people buy silver with fiat. they measure the growth of silver in fiat. to be able to buy something and realise that wealth growth they sell the silver to get fiat lol.

[be back]

The ultimtate irony is people buy silver with fiat. they measure the growth of silver in fiat. to be able to buy something and realise that wealth growth they sell the silver to get fiat lol.

its the same with gold, fiat currency gives it value, without currency as a medium of exchange gold and silver have no value attached.

[Irongrip400]

2 posts above this, you said gold has no value.  lol


Another Gib gimmick.

It's Be There.

[Disgusted]

The quick, simple answer?...

Because 5000+ years of monetary history says it is.

AH no. People used to trade salt and other spices for goods doesn't make gold worth anymore. Our money is not backed by gold or silver anymore.

[oldschoolfan]

bit coin  sucks, i have bought and sold it before,  now it costs alot just to make a transaction, and you really cant buy much of anything with it, not like i can go to sams club or the grocery store and pay in bit coin,  bitcoin got big because criminals liked to use it, now that the goverments are stepping in, bitcoin will not be so hot anymore, the shit is useless

[ESFitness]

The market determines the value of everything.

Gold is just a shiny rock. Same as a diamond.

[SOMEPARTS]

The market determines the value of everything.

Gold is just a shiny rock. Same as a diamond.

A diamond IS just a pure carbon rock. Metals have utility. Well, diamonds do also but I don't see anybody crushing up 3 carat stones to make diamond saw blades.

Silver is one of the most varied use commodities in the world, that has also happened to be money for the past 5000 years...up until 1913 and then again in 1964 in fact. They convinced people it was a good idea to use worthless non-backed paper as money and now they are convincing people that 1s and 0s are money. Most gold is stored as bullion or used for jewelry but silver is used up in production of goods.

People who bash metals don't have enough assets to understand how they are insurance and a hedge against inflation that is stored outside of the banking system. You SHOULD have 10% of your net worth in them. If you have no net worth you can play the Bitcoin lottery...

Oh and by the way - this thread is a Gib-free zone.

[gib]

The market determines the value of everything.

Gold is just a shiny rock. Same as a diamond.

Oh the irony - on this thread Mr A is trying to explain and justify why something inherently valueless has value. Hilarious example of self-owning considering his comments about bitcoin...

[SOMEPARTS]

Well, well....BTC must be up a little today.

[be back]

In 1963 my parents paid £325 for their house, today its worth £100,000
If they had bought 20 ounces of gold (at $35 an ounce) it would now be worth around $20,000

Yep, Gold is a real solid investment...