Bitcoin Forum

precious metals and crypto currencies are the only things in the world that can be money, simply because you can't easily create more of them and they store alot of purchasing power in a compact package.
banks printing fiat money and arbitrarily investing it are causing the misallocation of resources, shifting production resources from goods people really want to crap nobody needs.
their central planning experiment will destroy the fiat economy before the end of this decade.
jump off the titanic and get on the bitcoin life boat, its going to be rough...

Well said. While you can't be sure that bitcoin will be the primary life boat, you can be sure that the fiat titanic will sink.

There is a lot of noise in the marketplace that can be ignored. Those who are patient and strictly follow the most simple fundamental logic will be better off.

ya.ya.yo!

What is the fundamental?

Who is to say the price is undervalue or overvalue?

Precious metals are horrible investments. They can go down for several decades like they did in the 80s and 90s and even under perform inflation.

As for cryptos, there is a time to buy and sell. Blindly hodling can be very costly.

As a crude oversimplification:

Fiat economony > $100 Trillion

Crypto economy < $10 Billion

Fiat economy = Doomed

Crypto economy = The future

Therefore:

Crypto = Real cheap right now

Banks in general can't print money, only the central bank can.

Also the modern conception of money envolves it being backed by a central bank that will be responsable to emission of the coin. So silver and gold, or bitcoin, can't be considered money in the modern sense.

Also where are the fundamentals about the bitcoin's moon mission? If we take your speak as true, then gold and silver can very well replace bitcoin as money, so there is no warranty of bitcoin not going to 0.

i think the OP is fundamentally confused. i get the sentiment, but.....no.

There is really nothing fundamental on the coin other than buyer/seller willingness to transact at certain price.

The core of the issue is, how do you change how people view the coin and convince buyer to buy at high price and convince seller to sell at higher price.

Bitcoin and precious metals are being pushed by clever salesmen on ZeroHedge and certain other conspiracy theory websites. What they have in common, is a total inability to accurately predict the future. Hence their numerous failed predictions of when the "economic armageddon" will start. Gerald Celente, Peter Schiff, Marc Faber and Max Keiser are just some of these crooks. (Yes, I know that some of them are sceptical towards BTC, but they all push precious metals, since they make a lot of money doing so.)

2020. This was predicted several years ago elsewhere on the net. You don't wanna listen to the media or anyone with an obvious economic agenda.

just throwing this out there -- been hearing this crap from gold bugs for years. meanwhile, gold bugs are hurting fucking BAD.

gold can't be transferred across continents instantly for practically free. neither can cash through banks. that is bitcoins advantage, and its a doozy.

Heh, far from it.  It all depends on when you get in.  I'd argue the coinbugs are the ones who are really struggling right now.

Anyway, comparing gold to Bitcoin doesn't make any sense.  It's like comparing Bitcoin to real estate.  They achieve completely different goals.  Bitcoin is a securely shared ledger, period.  That's it, nothing more.

No , for example, see http://www.bankofengland.co.uk/publications/documents/quarterlybulletin/2014/qb14q1prereleasemoneycreation.pdf

you are wrong, 90% of money is created through fractional reserve lending by private banks

Forget crypto, man. Canned food and bullets. We're talking World War III, complete infrastructure breakdown. Internet? LOL -- what a joke. We're talking survival, man. Bitcorn ain't gonna get you nowhere after this Titanic sinks.

/insanity

gold has outperformed every other asset class except bitcoin for the last 14 years with the exception of 2013.

Yeah, what's that -- 30+ % down from the top? Just saying. ;D

I'd agree that gold is an important consideration for any diversified portfolio. But some of the rhetoric presented here is just so LOL...

bitcoin and gold are not investments they are money.
in a free market stocks outperform money.
but we don't have a free market anymore, we have a centrally planned economy with the banks redistributing purchasing power as they see fit.
untill this monetary system fails the best we can do is maintain our purchasing power by having real money.

You think so? Then what is the capital adequacy ratio you know? I'll make it easy - ratio between what bank owes and what it actually has; means it can give out about 10 times more money (in the most regulated markets) than it has thanks to the digital nature of money - you just add more zeroes; that is pretty much printing money.

That's just because of the Gold bull market since 9/11, which has ended.

Compare it to something like Apple or Berkshire Hathaway stock since the 80s and it looks pretty weak in comparison. In general blue chip stocks massively outperform gold over the very long term.

Large correction like this week is not just short term volatility and fluctuation.

The price shows the asset fundamental strength and weakness.

the gold standard ended in 71 it took a while for the banks to redistribute purchasing power enough to ruin the economy.
stocks will not outperform money anymore, not as long as the paper fiat scheme continues and banks continue to prop up failed businesses, causing resources to be diverted from producing goods people actually want to buy.

It's not absolutely comparable because in a cryptocurrency you can change the block reward with a hard fork. Many altcoins already had hard forks and the block reward was changed. It's more difficult with bitcoin but not impossible, so it's not comparable to precious metals.

a hard fork is no longer bitcoin.
i can dilute gold coins with nickel too.

There doesn't exist a "very long term" history for blue chip stocks. The argument that blue chips stocks outperform gold can be based only on about 40 years of history. That's the time when consumer loans became more and more available to artificially boost spending.

In contrast gold is used for centuries. It does not increase in value longterm, but it preserves its value perfectly. The gold bull market has not ended, it is just beginning. In fact it is not a gold bull market, it's a dollar bear market because of inflation by central banks.

But if Bitcoin succeeds it will outperform any investment on the planet until it reaches maximum adoption.

ya.ya.yo!

This assumption is simple but correct, the crypto economy is at its very beginning and it can only grow in the future.
Bitcoin can reach new highs in the future, but in the short term all can happen.

There is time to buy and there is time to sell. Now all should sell. Will be good time to buy just in month time.

no one knows what will happen in a month.
but i can tell you what will happen in at most 6 years.

bad unprofitable companies (that would have never existed in the first place if it weren't for the massive money printing that has happened in the last 7 years), will start to fail.
this will cause the stock market to crash similar to 2000 and 2007.

this will cause the world's central banks to unleash an even bigger dose of money printing in an attempt to prop the markets back up.
which will cause massive price inflation and a loss of confidence in paper money, pushing hard assets like real estate, precious metals and bitcoin through the roof as everyone tries to sell bonds and fiat cash to buy real assets.

don't fool yourself, no paper money system has ever survived, none, they all failed.
this time is NOT different.