Bitcoins - How is your investment

[SOMEPARTS]

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...

Gib 2nd gimmick confirmed. Not healthy to talk to yourself.

I have crypto. About the amount I'd be willing to blow on a week trip to Vegas. I'm not impressed. All my spam email is about buying crypto just like like the same spam I got in 2006 about flipping houses.

[Griffith]

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...

Gold is used in semiconductors and computer chips and diamonds are used for saw disks which are essential for cutting certain materials. They both contribute to production and manufacturing.

Gold has been used for thousands of years as a currency and store of value.

[Kim Jong Bob]

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...

eh diamonds and gold are used for more then just jewelry... Electronics and cutting for example

[gib]

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

Up over the last 24 hours you mean? Perhaps though I haven’t checked. But for sure up significantly over the last 3 months, year, 3 years, 5 years etc. And of course has significantly outperformed gold over any of these periods.

Yes both gold and crypto do have some functional utility (as do rocks and pieces of wood and bananas).  But this is not what drives their value. Rather they both act as stores of wealth and as such have a dependency on the collective value that others place on them.

[DooM_]

Up over the last 24 hours you mean? Perhaps though I haven’t checked. But for sure up significantly over the last 3 months, year, 3 years, 5 years etc. And of course has significantly outperformed gold over any of these periods.

Yes both gold and crypto do have some functional utility (as do rocks and pieces of wood and bananas).  But this is not what drives their value. Rather they both act as stores of wealth and as such have a dependency on the collective value that others place on them.

cryptocurrencies contribute nothing to society

[gib]

cryptocurrencies contribute nothing to society

Lol! Lol! Lol! That is one of the silliest comments I have heard for a while. Please do a little research. But either way they contribute far far more than gold’s “contribution to society” (which is primarily to look shiney and to be heavy”.

[SOMEPARTS]

Lol! Lol! Lol! That is one of the silliest comments I have heard for a while. Please do a little research. But either way they contribute far far more than gold’s “contribution to society” (which is primarily to look shiney and to be heavy”.

[Mayday]

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.

The problem is gold/silver has been outperformed by..... well, everything for decades. If you purchased a Corvette in the mid 1970s you would have a better return on investment than silver (approx 5x vs 3x).  

When the day happens when we see a tv priced in ounces of silver, you have a point. So something that has never happened in our lifetime you are saying will happen when?  

[SOMEPARTS]

The problem is gold/silver has been outperformed by..... well, everything for decades. If you purchased a Corvette in the mid 1970s you would have a better return on investment than silver (approx 5x vs 3x).  

When the day happens when we see a tv priced in ounces of silver, you have a point. So something that has never happened in our lifetime you are saying will happen when?  

Again, you are confusing risk/profit investing to an instrument that has an economic insurance value with no counterparty risk. The stock market has outpaced the value of a life insurance policy in those terms - does that mean you shouldn't have life insurance as well? Not everything is about profits if you have capital to protect.

Saying you can go back in time and buy something that outperforms metals or any other market is cherrypicking data and using hindsight to confim your own bias. Silver was $6 only 15 years ago so I could do that as well. Could it go back to $6? Maybe, but most likely not based on real demand both and actual mining cost. Either way if it stays at $16-17 forever it doesn't matter to me.

[Mayday]

Saying you can go back in time and buy something that outperforms metals or any other market is cherrypicking data and using hindsight to confim your own bias. Silver was $6 only 15 years ago so I could do that as well. Could it go back to $6? Maybe, but most likely not based on real demand both and actual mining cost. Either way if it stays at $16-17 forever it doesn't matter to me.

50yrs of being outperformed by everything is cherry picking data?

You are muddling yourself saying you are happy if it stays at $16 forever effectively never providing any profit and being outperformed by everything, again.  Yet you get upset when it's pointed out it has been a crap investment compared to others long term.

You are a doomsday prepper. Just say you are buying silver only for the event of when the global fiat system collapses, civil war errupts, computers crash. That's fine btw,   Just come out and say it because you sound like a whackjob trying to skirt around it.  Saying 50yrs of data is cherry picked is crazy talk.

[be back]

50yrs of being outperformed by everything is cherry picking data?

You are muddling yourself saying you are happy if it stays at $16 forever effectively never providing any profit and being outperformed by everything, again.  Yet you get upset when it's pointed out it has been a crap investment compared to others long term.

You are a doomsday prepper. Just say you are buying silver only for the event of when the global fiat system collapses, civil war errupts, computers crash. That's fine btw,   Just come out and say it because you sound like a whackjob trying to skirt around it.  Saying 50yrs of data is cherry picked is crazy talk.

if that happens why would silver be worth anything, without a medium of exchange in place its just a lump of metal.

[Mayday]

if that happens why would silver be worth anything, without a medium of exchange in place its just a lump of metal.

Why wouldnt it?

Why do you think exchanges for metals would vanish?

[mazrim]

if that happens why would silver be worth anything, without a medium of exchange in place its just a lump of metal.

I agree. I only have some gold and silver in the hopes that it goes up so I can sell it and make a profit. If it gets really bad, I would speculate that bread/bullets would be much more well received/valuable.

[Irongrip400]

I have a few thousand dollars, face value, of silver coins. I've read somewhere that old silver coins are worth 3x face value based on weight. Might be old data. Either way, they were my great grandmothers and I ended up with them.

[SOMEPARTS]

50yrs of being outperformed by everything is cherry picking data?

You are muddling yourself saying you are happy if it stays at $16 forever effectively never providing any profit and being outperformed by everything, again.  Yet you get upset when it's pointed out it has been a crap investment compared to others long term.

You are a doomsday prepper. Just say you are buying silver only for the event of when the global fiat system collapses, civil war errupts, computers crash. That's fine btw,   Just come out and say it because you sound like a whackjob trying to skirt around it.  Saying 50yrs of data is cherry picked is crazy talk.

Well, sounds like nobody is upset but you. I expect ignorance if I were to start discussing annuities but the willful doubting of metals by some is just puzzling because the value there is so simple. Just speaks to the fact that the continued beating down of sentiment has worked. Again, it's financial insurance. It's not money I intend to spend. It's not money I need to pay bills.

As I said, I hold multiple types of assets including some crypto. I can tell you that metal in the safe doesn't require checking if my app wallet password still works daily or checking the price every hour like crypto does right now. Just old time value that nobody can do anything to other than the paper markets suppressing prices...which again is fine because I still buy now and then.

[Mr Anabolic]

Mr. BLIPCONS TO ONE MILLION! (and those like him) just like to argue... chasing their tails... round and round they go.  He's trying very hard to stay relevant.  Too late.  He's outed himself with his absurd claims, contradictions, lies and multiple gimmicks.    

The price of blipbulbs will continue to fall with time.  It will never make new highs.  As I said many weeks ago, blipcons are played out.  The whales desperate defense of $10K area is so obvious.  

The morons here who are claiming that gold and silver are not valuable are just spewing verbal diarrhea.  They completely ignore 5000+ years of monetary history.  Notice how bliptards get so butthurt and defensive against anyone who pokes holes in their new religion.  It's quite amusing.  That is what manias do to people.  Remember... fear and greed.

The hate of precious metals and hard money advocates seems to be peaking.  Many previous G&S advocates have capitulated, dumped their PMs and bought blips with it.  Now, people are pumping blipcoins/cryptos on bodybuilding forums and claiming that gold is worthless.  Those are fantastic contrary indicators.  

[be back]

Mr. BLIPCONS TO ONE MILLION! (and those like him) just like to argue... chasing their tails... round and round they go.  He's trying very hard to stay relevant.  Too late.  He's outed himself with his absurd claims, contradictions, lies and multiple gimmicks.    

The price of blipbulbs will continue to fall with time.  It will never make new highs.  As I said many weeks ago, blipcons are played out.  The whales desperate defense of $10K area is so obvious.  

The morons here who are claiming that gold and silver are not valuable are just spewing verbal diarrhea.  They completely ignore 5000+ years of monetary history.  Notice how bliptards get so butthurt and defensive against anyone who pokes holes in their new religion.  It's quite amusing.  That is what manias do to people.  Remember... fear and greed.

The hate of precious metals and hard money advocates seems to be peaking.  Many previous G&S advocates have capitulated, dumped their PMs and bought blips with it.  Now, people are pumping blipcoins/cryptos on bodybuilding forums and claiming that gold is worthless.  Those are fantastic contrary indicators.  

Gold and silver stopped being used as a common medium of exchange years ago mate.

[Griffith]

Gold and silver stopped being used as a common medium of exchange years ago mate.

It's still used as a way to store wealth or as an investment.

[Mr Anabolic]

Gold and silver stopped being used as a common medium of exchange years ago mate.

Yeah "mate", so forgot about G&S.   

BUY BLIPCOINS INSTEAD!

[Mr Anabolic]

It's still used as a way to store wealth or as an investment.

Oh, wealth smealth.   Blipcoins to $100,000!... shortly after that they'll hit $1 MILLION !

[Zillotch]

arguing the value of gold is like arguing the shape of earth... a waste of time.

[be back]

arguing the value of gold is like arguing the shape of earth... a waste of time.

stopwatches are a waste of time..

[polychronopolous]

Ethereum still hanging tough and challenging $1200.

Will be interesting to see if it can maintain and ultimately build upon that .1 price ratio versus Bitcoin(currently @ 11,400)

[polychronopolous]

Ole boy loses his life savings investing in Bitconnect: "My heart is hurting. These people need to pay, they did us wrong"

[ratherbebig]

feel free to post pictures of mansions, cars etc