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1  Economy / Economics / Re: BTC to GOLD on: December 27, 2019, 08:46:46 PM
Yes I think it would be a good thing to convert BTC to GOLD especially since i am an American and our money is based on the value of gold. Right now BTC is not really recognized as money in the UNITED STATES but I hope it will be soon enough.

hate to burst your bubble but your USD fiat hasn't had any relation to gold in quite some time
2  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: October 24, 2019, 03:45:36 PM
Just so you know if I sold my bitcoin’s & spent all the fiat on silver (looking at the price of around 1kg = £500) I’d probably fill a couple of large cargo trucks.


Seen as your quoting £'s silver isnt the best investment in the UK due to VAT applied.

Try gold, at about £38k a kg you wont have the same cargo truck issues lol.
3  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: October 21, 2019, 01:15:27 PM
Fake-branded bars slip dirty gold into world markets.

https://mobile.reuters.com/article/amp/idUSKCN1VI0DD?__twitter_impression=true

You do realise they are still pure gold so who cares?
4  Economy / Economics / Re: Fake-branded bars slip dirty gold into world markets on: September 04, 2019, 10:30:11 AM
At least bitcoin isn't easy to counterfeit Smiley

Everyone who buys gold should have a simple test kit and if they are purchasing large bars only buy them from a reputable dealer.  I do like bitcoin a lot but I still think gold is a solid hedge because it has held value for thousands of years.

These bars are real gold, they are just stamped with fake refinery stamps.
5  Economy / Economics / Re: Will people come back to gold on: June 22, 2019, 08:27:59 PM
if there is a cycle in the world and everything ends with what began, then in any case gold will always have value.  but it’s very good that in the cryptocurrency market there are quite a lot of cryptocurrencies and different projects that offer different services and their possible uses.  If we compare Bitcoin with gold, because of their limited quantity, then we must first understand how to create a full-fledged infrastructure for its use, since gold is used only as a means for investment.

except its also used for jewellery, dental, electronics and industrial processes.

6  Economy / Economics / Re: Gold exist 1000+ years. while bitcoins exist 10 years. on: June 03, 2019, 05:47:45 AM
But I can't use my gold to buy pc-parts on my eshop.

yes you can, you can use a glint card
https://glintpay.com/
7  Economy / Economics / Re: Gold & Silver are safe than bank deposits ?? on: April 22, 2019, 08:42:06 AM
Bank deposit will be secure your amount of money in the future and anytime once you want to get it you will get it for sure.
Gold and silver gives you high profit everyear and your income from them you can deposit it through bank.

I think you need to read up on the bank bail in laws and Cyprus as a test case.



In as much as government take over people found in the bank this thread is solely for interest differences between bank deposits and sivlve and gold, while the interest on bank account comes in annual rate some time 3 months or 6 months to one year if you add them together you may end up generating interest higher then that of gold and silver. Just done a proper review on the interesta base on the percentage you stated in the post.

Most banks pay an interest rate below inflation so year on year any funds held in a bank account lose purchasing power.

8  Economy / Economics / Re: Will people come back to gold on: February 28, 2019, 12:04:10 PM
Gold practically has no use except for to accessorize.

What about the 429 tonnes used for industrial purposes.

I wish people wouldn't comment when they don't know what they are talking about.
9  Economy / Economics / Re: Will people come back to gold on: February 26, 2019, 07:13:48 PM
Then go try to sell bank issued gold bar with a scratch back to the bank for approximately the same price as you paid for it.
Maybe it doesn't work the same in all countries but the general rule still looks like that.

You obviously have never owned any gold so why not stick to topics where you have a clue what you are talking about?

No bank or bullion dealer will pay you the exact same price as they sold it for or they would go out of business very quickly (taking out spot price variance)

There is always a buy/sell spread, typically I but at 2% - 3% over spot and if I were to sell immediately back to the same dealer I would get around 95% - 100% spot depending on demand at that time.

Bullion is called bullion for a reason, here is an example:

https://www.hattongardenmetals.com/sell-scrap-gold.aspx

See how prices are based on gold content with no mention of scratches?
10  Economy / Economics / Re: Will people come back to gold on: February 25, 2019, 03:10:34 PM
The problem is that physical gold might be a pretty bad investment. If you have a gold bar in your house then you should carefully watch over it because any tiny scratch will cause a significant price decrease while buying a "virtual" gold still can't guarantee 100% safety during a financial crisis. Also in case of any military conflict even physical gold won't really help you.

Another example of someone that hasn't got a clue what he his taking about.  Gold bullion be it bars or coins are valued based on gold content. Scratches, finger marks or dents make no difference.    The only thing you need to keep perfect are proof quality coins.

The UK also issues gold sovereigns as part of air crew survival kits encase they are downed in enemy territory.  I think they are a little more knowledgeable than you.
11  Economy / Economics / Re: The Consensus is Clear: You Should Own Gold Now on: February 17, 2019, 11:01:02 AM
I really do enjoy seeing how Gold bugs blindly try to shill their bags, which very much reminds me of what we see in the crypto space.

I once saw a discussion between a hardcore Gold fanatic and a journalist, where the fanatic pointed out how you can spend Gold in every store by first converting it to US dollars, and then spend the dollars, which makes zero sense. What it does is point out even more how useless Gold is as local currency for day to day transactions.

I can see some utility when it comes to large transactions settled with physical Gold, but that's about it.

You can do this with Glint, links allocated gold holdings to a mastercard:
https://glintpay.com/

Traditional gold holdings are not for daily spend either, they are for long term preservation of wealth.

Only people buying gold are those who aren't modern or smart enough to buy bitcoin. Someone tell them to sign up at coinbase, it's a simple exchange and even n00bs can buy a bitcoin or two

I'm sure those that bought BTC near $19k are feeling really smart right now.  

Also with regards to being modern, most of the electronic world we have currently uses gold to function.
12  Economy / Economics / Re: Will people come back to gold on: February 15, 2019, 07:39:27 AM
Why do you have to rent a safety deposit box?  $40k gold is the size of a smart phone, very easy to hide away safely.
That's definitely true, and why people pick gold over silver. I think that the main problem for average joes is that they don't trust themselves holding anything of significant value at home, doesn't matter what it is, gold, crypto, jewelry, and so forth.

People feel comfortable having a bank do the work for them, where in some cases they are even insured up to a certain amount. I can have a safety deposit box be insured up to €50k, but that requires total openness.

If you don't want that your bank knows what you store, you can skip the insurance part, but that comes at a risk--frequently you see criminals accurately dig tunnels to where these units are, and we all know how this ends....

Using a safety deposit box introduces another element of risk.

During the recent Cyprus banking crisis with capital controls in place customers were prevented by the banks from accessing their safety deposit boxes.

Always comes back to "if you dont hold it you dont own it", same applies to leaving all your crypto sitting in an exchange.
13  Economy / Economics / Re: Will people come back to gold on: February 14, 2019, 09:28:56 PM
Who buys gold?
Central banks, Indians, rich Arabs. In Europe, gold is very, very regulated. In some countries, every transaction has to be declared, and sometimes, it's also taxed. It's a bit better in the US, but not by much. Gold also requires you to rent a deposit box at your bank, and it's hugely difficult to travel with. Shares or cryptocurrencies, which you can trade online, are a much smarter choice for the individual.

Your whole post is pretty much misinformation.

What do you mean by gold is well regulated in Europe?  Some of the largest dealers are EU based such as the european mint, silver to go, goldsilver.be.

In the UK you can buy as little or as much as you want pretty much hassle free.  

If you spend over £5k in one transaction or £10k a year with a single dealer you just give them a copy of I.D, this is not submitted to the authorities routinely but just filed away.  If you dont wish to do this there are plenty of dealers out there to spread your buys around.

You can also import gold into the UK tax free.

Not every transaction has to be declared.
Gold is completely tax free to buy
Legal tender gold is capital gains tax free if you sell at a profit
Why do you have to rent a safety deposit box?  $40k gold is the size of a smart phone, very easy to hide away safely.
Allocated gold can be traded as easily as crypto with services such as bullionvault or goldmoney.
Gold can be spent as easily as crypto with Glint
Gold is not difficult to travel with, you just have to declare over a certain value at customs.  There are several members of a precious metals forum I am a member that often travel to europe and bring large volumes of gold and silver back.

Shares or cryptocurrencies serve different purposes to gold as they contain significantly more risk than physical gold (see my above post video link)

I do not know much about the gold-dollar relationship. But I'm interested in the maximum supply of gold. It is a finite resource and can get exhausted like most mineral resources.
Is there any duration period (or estimate) of when the total gold bars could be all mined globally, just as we have with bitcoins?
And how would exhaustion of the metal affect it's market value?

There is still plenty of gold out there to mine e.g. in sea water, deeper down but it comes down to how cost effective it is to mine.  I think most of the low hanging fruit is already gone and with decreasing gold yields, increased energy, people and equipment costs the price will have to climb just to hit break even point.

I think in the not too distant future it will be more profitable to recover gold from e-waste rather than trying to dig it out of the ground.
14  Economy / Economics / Re: Will people come back to gold on: February 14, 2019, 09:22:05 PM
I posted the below link in the other thread but will stick in here too.

A very clever indvidual talking about wealth preservation and the criteria he uses:

https://www.youtube.com/watch?v=a4_U6bS-cU4

If you have the time to sit, watch and absorb what the guy is saying it should help position you for the future if you apply the same principles.

15  Economy / Economics / Re: Gold exist 1000+ years. while bitcoins exist 10 years. on: February 14, 2019, 09:19:28 PM
Gold has no intrinsic value and the same is true for everything else including bitcoin, people have the illusion that gold has intrinsic value because it has been valuable for thousands of years, but the value of gold comes from its use as money and its scarcity, but if something better than gold was created then gold could begin to lose some of that value, which is why some speculate that the market cap of bitcoin will grow because it will take money away from the gold market.

Gold's value comes from its unique properties and not the fact it was used as money.

Gold was valuable way before it was ever used as money.

I would suggest everyone watch this video, a very clever individual:
https://www.youtube.com/watch?v=a4_U6bS-cU4


16  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 13, 2019, 03:36:29 PM
Its clear that crypto has failed as a currency for the most part.  Its mainly a store of value, digital gold.  Store of value is better imo.

How can something with the volatility of BTC be a store of value.

It's just become a speculative gamble.
17  Economy / Economics / Re: Gold exist 1000+ years. while bitcoins exist 10 years. on: February 08, 2019, 05:29:15 PM
Bitcoin has that super advantage over gold.

and gold has advantages over bitcoin but they cannot be directly compared.

the only reason these threads keep popping up in the first place is because consciously or subconsciously people recognise gold as the ultimate form of wealth.
18  Economy / Economics / Re: Gold exist 1000+ years. while bitcoins exist 10 years. on: February 08, 2019, 12:23:55 PM
Do you say gold exist 1000+ years "maybe?"Huh  Cheesy from what planet you are?!
If you love to compare bitcoin with gold they have different history. The price of gold was high from the most beginning and now its lower because the mass of gold increased. Number of bitcoin's is limited and this factor can make it super expensive at the moment when all coins will be on the market.

Well thats complete crap.  Gold is mined every year so by your theory as supply increases every year then the price should decrease every year.

Gold price is a measure of confidence in the global economy with a floor price based on mining costs.

When the world economy is stable and growing the gold price tends to drop back, when fear and uncertainty raises its head then gold price increases.

Central banks are currently accumulating gold at the fastest rate since 1971, that should be enough to tell you what is about to happen.  Gold is also currently at an all time high in 72 currencies.

Also considering Comex is currently leveraged at over 200 paper gold oz's to every real physical oz of gold its easy to see that physical metal supply has little impact on price at this current time.  If Comex ever goes under due to customers demanding physical delivery of the metal during a financial crisis you can imagine the impact on gold price.
19  Economy / Economics / Re: Will people come back to gold on: February 06, 2019, 11:36:11 AM
With Bitcoin you can run a full node and nobody ever will be able to steal your bitcoin.
Regarding Gold: you can desposit your gold in Bank of England and still they can refuse to give you such gold.
This a huge difference in favour of bitcoin.
This is why you should run a Bitcoin full node (follow my guide in signature if you can speak Italian).

Putting your gold in someone else's possession be it a bank, vault or security box is the same as holding all your crypto on an exchange.  It introduces another element of 3rd party risk.

The safe way is to hold your own private keys and hold your own physical gold.

I would be amazed if there was anyone on this forum with so much wealth they couldnt easily hide it in the form of gold in their own house considering how value dense gold is.  $40k gold is around the size of a smart phone, how hard is that to hide.
20  Bitcoin / Bitcoin Discussion / Re: Bitcoin investors now moving to gold on: February 02, 2019, 12:01:14 PM
Bitcoin investors are now moving to gold citing the cryptocurrency’s issues with liquidity and store of value

There is no way that Bitcoin investors are going to switch over to gold

I can tell you that even without reading the piece you linked to. I can even go so far as to claim that it is a complete junk. Why am I so sure? The reason is surprisingly simple. Because Bitcoin and gold are assets which are on the opposite ends of the investment landscape (with many other asset classes in between). People invest in gold if they want to save the wealth they have already accumulated, while people who invest in Bitcoin are speculators and looking to multiply that wealth or create it in the first place. So it is two entirely different groups of people with completely different goals in mind, and there is not a single chance for the massive switch-over between them. It simply doesn't happen in real life

So what about people like myself that speculated in bitcoin, made a decent profit then cashed out the lot into gold to stabilise the gains made?
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