... Ah, BitChick, but cash is even better then BTC for buying gold... All of the online gold sellers have to ship the gold to you, ruh roh, there's a trail. If I go to either of my LCS (local coins shops), I pay cash, no invoice...  |
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... Rickards needs to think BIG re future price of gold. $55,000 - $100,000 per oz. Non-hyperinflated dollars. Long and hard reading, but pretty much required if you really like gold, start way back in late-2009 if possible, although his second newest post is an acceptable summary of his ideas: fofoa.blogspot.comI am not FOFOA. |
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... @ Dr Bloggood and fellow BTC Talkers interested in money Thank you for the review, Doc! I have read many books that are in this general "space", and believe that our monetary systems are in peril for several reasons. I appreciated very much your views on Europe and especially Germany. Most of what I read says that Germany is really rockin' even while not mentioning the strong ties that Germany has with the rest of (faltering) Europe. Your comments balance that noise... While I believe that a full-blown collapse of the financial system is unlikely (that is, taking us to a "Mad Max" or TEOTWAWKI...), there is an excellent chance of what I call "Great Depression v. 2". Where it gets very hard to get work, crime goes up (typical in very hard times) and a variety of ugly after-effects. The probability of something bad is pretty high, IMO. And it will be worldwide. What to do? Saving money, in various forms (gold, BTC, etc.) is part of the equation. Getting out of debt. Owning other hard assets, including CA$H at home. And depending on how severe you think our system might crash: guns & ammo, water & food, etc... The big question is, how much (and how) do you prepare? That depends on your level of financial paranoia (I am financially paranoid) and your own situation. Excellent thread! |
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Nice video, balanced as commented above. OP, I missed it on CNBC, thanks for sharing the link!
***
Regulate BTC? I hope not!
"Money Laundering" is any money that the government does not know about.
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I always recommend diversification, even if young. Since this is money that could be lost without too much heartache, I would go something like:
1/3 in gold
1/3 in silver
1/3 in BTC.
Bulletproof!
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... I have not put in enough time in the whole BTC business to really know, but here is what I think. I believe the above comment re "averaging in" to BTC is probably an excellent idea, I just buy gold, for example, when I have the money. I do not even look at the price other than to make sure that my LCS (local coin shop) is not charging too much. If you believe in BTC, which I do to at least some extent, averaging in has worked for me in gold, and would likely work for BTC fans too. (I will eat that dogfood soon, as BTC prices are down so much from the $760 or so when I got in)   |
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I saw at Zero Hedge today that apparently some gold dealers will not accept tumbled nor shared BTC.
I do understand that people have their reasons for making their BTC a little harder to track.
But, the gold dealers still have to ship their coins... So, what's the problem? This may be a very n00b question, but I always thought a Bitcoin was a Bitcoin.
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... Arguably (and for me the this argument makes a lot of sense), Bitcoin technology is most revolutionary in that you can take it with you, without detection. Out of the country even... |
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@ crazy_rabbit
Your device looks like it will fill a hole in BTC storage options. Good luck! Once you are in reliable production, keep us informed!
I like very much your idea of EMP-proof packaging. Make your device very tough too!
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I am sure this has been discussed ad nauseam before, but I looked around and could not find a thread. Nor have I been able to find a good BTC price graph for, say, the past three years.
I own some BTC that I bought around (average price) of $765 or so, so I am down. I have read that when BTC prices were lower in the past that there were also BIG percentage price swings. Are we seeing something similar (%-age price) drops that has happened, maybe often, as in the past?
In other words, perhaps at its current price of $412 (10 April, approx. 2:00 AM US ET), is this a good opportunity to "BTFD"? I appreciate the perspective offered here by experts as well as those who have been in the game longer than I have.
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armspir, argh! TWICE today!
EDIT: Maybe I should just drive back home and go to bed...
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Wow, I hope it's true, that would be big!
BTCBTCBTC !!!
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OP, thanks for posting this. Excellent ideas "that guy" had.
EDIT: Newb Jr. Member OROBTC apppreciates it!
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I know a guy (from whom I bought BTC), who went to a BTC conference in Argentina a few months ago. He told me that among the people he talked to (granted, likely to be all tekkies) the interest was huge... Argentina has LOTS of problems, it is governed terribly by an incompetent blowhard Socialist (Cristina Kirchner). So, BTC would enable many locals to avoid the currency restriction and other roadblocks their .gov lays in to block their citizens from financial protection...
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Other than the USA, my beat is Peru. Hardly anyone there accepts BTC, nor even knows what they are... Yet, all the young ones I saw (albeit in better parts of Lima, in general a big poor city) are running around poking on the smartphones just like here...
I agree that in countries that inefficient and corrupt, BTC has great potential, but IMO it will take a BUNCH of time. Who in Africa will take your BTC for gold?
No one (among jewelers, etc.) I could find in Peru (in March) would take BTC.
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I mentioned WAY upthread that BTC and gold are complementary, and this decision should not be either BTC or gold, but both!
I would further add that diversification into other precious metals (Pt, Ag and Pd) might be a good idea for those inclined. Pd has lots of interesting properties as a metal, and there are only two major producers (Russia and South Africa). But, you can find Pd Maples if you look around.
Re diversification into other alt-coins, I suspect that might be a good idea if there are others which are well-designed. But, I only hold BTC. I should find a thread discussing OTHER alt-coins for us poor newbs...!
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In the short-term, there is no other currency that could replace the dollar. Nor are China and Russia serious threats to the USA. Both have huge problems, both demographic and environmental.
If our country fails, the USA will fail because of its own internal rot.
A reserve currency is not always such a good thing. Triffin's dilemma... Must run a trade deficit (loose economic talk here) to keep those $$$ flowing around the world.
China is not willing to take on nor up to the task.
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... Doh! Polycoin got me! WHY do I always fall for April Fool's, I even have the date on my computer down there at the bottom on the right...  |
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@ vpitcher07
Someone sent me ANOTHER document (I am still trying to find it) showing that even a big quantum computer, running full blast, would have to depend on other components (input/output, other peripherals, etc?) that could not keep up (speed of light, mechanics of other pieces of physics) with the computer.
If I find the document ("a tad technical"), I will post it.
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