It could be but I don't think there are many of them shifting their loyalty from bitcoin to gold. This is clearly a fud. It is more reliable if the article says that the investors of gold also investing bitcoin. Aside from this I don't think their is another way of statement to beautify the statement.
That's where you are going wrong. It's an investment, loyalty doesn't come into it. |
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EU and UK are toothless loyal US dogs. They doesn't have own decision making process now. The point here isn't is Maduro good or bad, but the point is they are breaking all democratic principles.
Having Bitcoin will not help Maduro anyway. He will need to convert to fiat at some point. And all cryptos are what 120B? This is nothing compared to world finances and needs.
Well the UK and EU just buttfucked the US by launching a SWIFT payment alternative to continue trade with Iran. The EU is pushing an EU army to render the US redundant. What you are currently witnessing is the beginning of the end of the US with $ the world reserve currency and their role as "world police" |
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Some people call this news a fud.
it is not FUD, it is bullshit. there is a difference. bitcoin investors don't go for gold, they either already have gold as their other investment for diversification purposes or they don't. what they never do is to sell bitcoin to buy gold instead! not to mention that at this point, everyone is either sucking their greed up and are accumulating bitcoin before the big rise begins or are greedy and are waiting for their dream price to buy bitcoin. I dumper over 100 BTC and put it into gold and others have too Oh really ? When was the time you've done that ? 100 btc is too much and you could move the price downwards all by yourself but your decision was bad because you didnt know that bitcoin is the only one asset that can give you a 4 to 6 times return and gold or other investment options cannot obviously do that . poor little guy :| I sold an element for cash and purchased gold locally. The majority of gold I purchased directly with BTC on silvergoldbull (shipped from Canada) I did it when the price was significantly higher than it is now, bitcoin can possibly make you 4X - 6X profit but it can also wipe out 80% of wealth like it has currently. Gold is currently at an all time high in 72 currencies, I am happy with my decission and sleep easy at night. p.s also purchased a Lamborghi Gallardo LP560-4 Spyder with my profits too  |
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Some people call this news a fud.
it is not FUD, it is bullshit. there is a difference. bitcoin investors don't go for gold, they either already have gold as their other investment for diversification purposes or they don't. what they never do is to sell bitcoin to buy gold instead! not to mention that at this point, everyone is either sucking their greed up and are accumulating bitcoin before the big rise begins or are greedy and are waiting for their dream price to buy bitcoin. I dumper over 100 BTC and put it into gold and others have too |
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Any reason why you cant safely store it somewhere in your control? |
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If Maduro was holding Bitcoin instead of gold, specially gold outside of your borders, he wouldn't have had that little problem. Of course Maduro is probably too computer illiterate to get the thing done.
You could make the argument of "if he was holding his gold inside his country he wouldn't have been denied access". Well still, it would make sense to hold Bitcoin and not gold, specially when you have an empire like US always threatening anyone with entering your country and taking all of your gold and oil reserves as they will do with Venezuela. With Bitcoin they couldn't be able to take them as you could have safe backups overseas.
This is an unbeatable logical argument for the bullish case of institutions holding Bitcoin. Im not saying they should dump all of their gold, but definitely dump a certain % and diversify with Bitcoin. This will happen sooner or later, and it just takes a first mover for the rest to follow, they will not be able to afford not having some due game theory, similar to not having powder back in the way when when wars were fought with swords.
good luck trying to liquidate $1.2 billion in bitcoin if you needed too. You think the price is looking bad now, it would be under $1k Couldnt they just as easily block his access to exchanges rendering his bitcoin worthless? |
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One of the favorite pieces in collection, a gold double douboon of pirate fame. From King Phillip II of Spain's reign, dating between 1556 to 1598 and minted in Sevilla. Still worth a chunk of cash coming up to nearly 500 years later, with the speed technology advances I cant see any crypto currently in existence lasting a significant period of time.  |
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Gold is a piece of metal nothing less more. On the contrary, bitcoin is a digital assets backed up by blockchain technology. The bitcoin blockchain is a technology that can be used in financial transactions and in other fields. Thus, the existence of bitcoin is just starting. Once the blockchain technology has been maximized, there is no doubt bitcoin price will rise.
Is all that technology a strength or point of weakness though? "a piece of metal nothing less more" = no 3rd party risk or dependance on anyone or any support system such as power, internet, blockchain protocol, electronic devices. I could bury a gold bar, mark it on a treasure map and in 300 years the great, great, great grand kids could dig it up it is still valuable and hasnt changed since the day it was buried. |
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Most of those people (gold, silver and crypto vloggers) believe that we'll have a huge crash in markets. One that will last for years and put whole countries into the state of depression. They are preaching the collapse of the Dollar and/or the bursting of housing bubble and nothing happens. Real estate prices in some countries like the UK are going up like crazy and there are no signs of it changing. The Dollar, inflated as it is, is still doing fine. The stock market is acting like it might reverse, but the crash was prevented once in 2003, so they can always start another war (Iran) and keep it going. I just can't imagine a SHTF scenario in our near future.
What you dont realise is the above did happen and they kicked the can down the road by printing trillions in QE money. All the root causes of 2003 were not resolved, if anything they have got even worse so the clock is ticking again. |
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No kidding. The only reason I came back to this thread was to see if there were any posts worth meriting, but all I see are the typical one-line sig shitposts which demonstrate that they can barely comprehend the thread title, much less anything else here.
They give me stress. Sometimes I have to read the same post 3 times and it often comes to the point I wonder if I'm not the one who's dumb. Sure gold won't be used for our daily uses like it was used centuries ago, but as a store of value, it could easily happen. Today generations don't know how it is to live in a war (I don't too btw). If a day it happens they will quickly understand. Have a look at Glint, it lets you link a mastercard to an allocated gold holding and you can switch between several currencies. Makes saving and spending gold quick and simple: https://glintpay.com/ |
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Gold is not safe because of its physical presence it’s hard to keep it away from street robbers and thief’s so I am sure people are not going to connect with good again once they try investing in bitcoin now is hardly possible for them to move again to 19th century where people were not having any other option than Gold.
Owning physical gold exposes you to a few local thieves, owning bitcoin exposes you to a global network of hackers. How many exchanges been hacked? How many people have been scammed on this forum? Find me a precious metals forum with a section similar to the scam accustion thread on this forum, you wont find one. $40k gold is the size of a smart phone and very easy to hide away securely and if your discreet how would anyone know you have it? Buying gold with cash is anonomous, dealing with bitcoin leaves your digital fingerprint everywhere you go. |
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I wonder what is bigger, the current price of gold per ounce (as a number) or the number of articles on that blog in which the next gold run will start....soon..soon since 2011...even sooner in 2020...soon...2140...soon Seriously what do you people expect from a blog named "The Silver Liberation". I would rather take financial advice from rick and morty. actually can be said to be the same. because if seen, the gold market can be more stable, or the fluctuation is not as extreme as bitcoin. while the bitcoin fluctuation is very extreme which can make a big loss, but also huge profit. so I think the market between gold and bitcoin is the same.
The main difference is that people who have bought bitcoin in 2011 have made a fortune, people that have bought gold in 2011 are still counting loses. And if takes you more than 10 years to at least cover your investment... and people that bought bitcoin near the top lost their ass completely. |
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I think there are a number of other base metals/products that one can invest in to store wealth
The problem is wealth density. $40k gold is the size of a smart phone. $40k copper is 6.7 tonnes Reassure me, you don't know anyone with 6.7 tons of copper in his house, do you? Even the Gypsys don't have. More no copper lol. About 95% in gold and the rest in silver. Silver is bad enough for starting to take up space, wouldn't touch anything else |
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I think there are a number of other base metals/products that one can invest in to store wealth
The problem is wealth density. $40k gold is the size of a smart phone. $40k copper is 6.7 tonnes |
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Unless a new significant use case for gold arises within the next decades (which is not impossible, could be something space related), the price will go down to its intrinsic value (on computer chips and the likes). Jewelry, which is one important use case for gold right now, is quite useless apart from being a part of our culture. Once people start to realize this, gold will go down in price. At the very latest, the price will go down once supply increases.
On Bitcoin existing in 2100: It's absolutely impossible to predict that far into the future. The scenario was hypothetical, and deliberately exaggerated in order to make the point, that while the supply of gold might spike at some point in the future, Bitcoins cannot.
Countries such as China and Russia are accumulating gold as quickly as possible. Countries are fighting to repatriate their gold from the US and UK. Gold jewellery has been sought after since around 3100 B.C. that is not about to change any time soon. Gold does have a minimum floor price due to energy, equipment and people costs to pull it out of the ground all of which continue to increase in price with reducing yields. Gold hits an all time high in 72 currencies: https://www.zerohedge.com/news/2019-01-15/gold-hits-all-time-high-72-currenciesBitcoin has no new use cases, no mass adoption, no killer app. It has existed such a small amount of time it could disappear tomorrow and the majority of the world wouldnt even notice. There is no minimum floor price for bitcoin thanks to the automatic difficulty adjustment, 1 nerd mining on pentium III with bitcoin at $1 could happen. |
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Crypto is a generic term that people use to describe too many shitcoins and centralized bullshit that can't store value.  Have a thread about it here https://bitcointalk.org/index.php?topic=5084692There is no way for the average person to assess whether a "crypto" is truly decentralized and all these arguments about altcoins having "value" are getting boring. True value will show over time. Gold Portability - A bit of reality needs to be applied to this, considering a $40k bar of gold is the size of a smart phone how many of you would struggle transporting your wealth in gold. Highly divisible - Physical gold can be purchased in grains (not grams) = 0.06g how low do you need to go? Secure - Gold is secure and cannot be copied, you can can get copy coins that lack the detail of an original or bars that do not have the same dimensions or weight and can be checked with a specific gravity test, acid test or xrf test Easily transactable - Exactly the same as bitcoin, check out Glint which links a mastercard to allocated gold holdings Scarce - All the gold ever mined through history will fit in 1 olympic swimming pool Sovereign (government issued) - Ever hear of sovereign coins? Most governments have a state issued gold coin eg. sovereigns, britannias, eagles, krugerrands, pandas etc. etc. Decentralised - how many people own a piece of gold jewellery, gold dental work, gold components in electronic equipment, a gold coin. That chart is biased at best but personally I think its straight up incorrect bollocks. |
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Perhaps banks are now actively buying gold, but at the same time there is a very large number of OTC transactions during which various funds and individuals actively buy bitcoins from miners, and if they do this, this means that they have some kind of investment plan. I think that ultimately buying bitcoins is much more profitable than buying gold.
You have to factor in risk too as recent events have shown. |
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The only important fact is fiat is the worst thing to hold.
Inflation always exceeds any interest paid on cash savings so constantly erodes purchasing power year on year.
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I couldn't agree more with you. If only the members could understand that. Gold isn't an investment, I don't know any sane investor injecting money in the gold market to get gains. It's funny when you read the full topic, you can see who know nothing, not even a place to buy some...
In the first post I mentioned the central banks increasing their gold stock, why are they doing this? Not to invest and get a 5% within 12 months
Well my investement in gold paid off my current house after the post Brexit vote price spike. Currently holding 403oz gold + just under 2000oz of silver. Fully expect the gold to make me a millionaire when the next financial crisis kicks off in the not too distant future. Fast forward to the year 2100: If we manage to colonize our solar system, we will at some point be able to reach asteroids and planets with far more precious metals than we have on earth. With supply increasing, prices will fall. Bitcoin on the other hand, in 2100, will still be limited to <21 million
And you think they'll pull off deep space asteroid mining of gold at under $1300 an oz? Scarcity does not always equate to value also techology moves fast, do you think BTC will still be the no.1 crypto that far in the future? My bet it is it will be a distant memory and state issued and backed crypto will be the norm. |
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