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seafarer124 (OP)
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October 15, 2013, 02:56:39 PM |
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I have been a client of a company in Istanbul for four years trading foreign exchange. They have returned an average of 3.5%/month over the four years. I have bank accounts in Australia, UK and Thailand. The problem is when you wish to withdraw funds it is taking longer and longer. The reason given is the banks and AML laws which are the problem. I have now been waiting more than six weeks for a funds transfer. I am concerned that I am holding too much with the one company. I only found out about Bitcoin about three months ago and have since purchased. Average purchase price to date is US$111.00/BTC. I am unsure if I should invest more in Bitcoin or go with gold and silver, or, a combination of the three. I am considering using - http://www.bullionvault.com/guide/gold/Ready-to-buy-gold#section-Ready-to-buy-gold-InsuranceIt would be nice if BullionVault accepted Bitcoin, they do not at this time. I realise all your eggs should not be in one basket. I feel gold and silver are quite low at present and there is the possibility of good gains. I really do not trust banks. Any thoughts, thank you? |
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"With e-currency based on cryptographic proof, without the need to
trust a third party middleman, money can be secure and transactions
effortless." -- Satoshi
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NewLiberty
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Gresham's Lawyer
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October 15, 2013, 03:21:39 PM
Last edit: October 15, 2013, 04:13:43 PM by NewLiberty |
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Not only do we refine and mint silver and gold bitcoin specie, we gladly accept bitcoin and can vault or deliver fine precious metal bitcoin pieces. Check the links in the tag or send a pm and I'll happily answer any questions on this.
Bullionvault is a decent company, and you should do your research on them. There are better deals, there are more solid enterprises, and no they don't yet take bitcoin (we are encouraging them to do so) but they do a pretty good business.
If you want a Bitcoin specialist, who focuses not on government produced precious metal mintings but on private minting using designs sourced from the Bitcoin community (and very notably these pages of BitcoinTalk), you will find us to be your choice.
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hulk
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October 15, 2013, 04:06:44 PM |
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You are asking this question in Bitcoin forum, sure I will tell you Bitcoin  |
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AU
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October 15, 2013, 08:43:15 PM |
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can't go wrong with silver.. but gold & bitcoin requires perfect strategy
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countryfree
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Your country may be your worst enemy
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October 15, 2013, 11:49:56 PM |
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You are hesitating between metals and a currency. I think you just can't compare them, they have different purposes.
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I used to be a citizen and a taxpayer. Those days are long gone.
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westkybitcoins
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October 16, 2013, 03:24:43 AM |
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Safest bet is to invest in all three, in the proportions one feels reflect the relative risks. Higher risk of loss = smaller investment percent-wise.
I've already got a small amount of each, but were I to suddenly have a lot to invest, my view of the relative risks (over the long term; 10 years minimum) would be like so:
Bitcoin - 30%
Silver - 50%
Gold - 20%
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Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
... ... In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber... ... ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)... ... The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
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AU
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October 16, 2013, 04:05:07 AM |
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Bitcoin - 30%
Silver - 50%
Gold - 20%
This is good. I would follow that if I were just starting out |
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seafarer124 (OP)
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October 16, 2013, 07:25:52 AM |
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Safest bet is to invest in all three, in the proportions one feels reflect the relative risks. Higher risk of loss = smaller investment percent-wise.
I've already got a small amount of each, but were I to suddenly have a lot to invest, my view of the relative risks (over the long term; 10 years minimum) would be like so:
Bitcoin - 30%
Silver - 50%
Gold - 20%
Thanks to all. Your figures are about what I was thinking. I am frustrated at the moment waiting for funds to transfer. Possibly banks are dragging the chain to keep funds as long as possible, a little scary, especially as you do not own your money in their bank. |
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Chief Satangkai
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October 16, 2013, 10:31:39 AM |
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Diversify between Silver and Bitcoin (and altcoins if you are ballsy)...
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chmod755
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October 16, 2013, 12:37:45 PM |
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Any thoughts, thank you?
I'd suggest buying some more Bitcoins and using them to acquire gold and silver for BTC. This way you're empowering the Bitcoin economy and diversifying at the same time. |
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hulk
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October 16, 2013, 01:18:30 PM |
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This is a better diversification.
Bitcoin: 10%
PPcoin: 10%
Litecoin: 10%
Primecoin: 10%
Feathercoin: 10%
Stock: 10%
Property: 10%
Gold: 10%
Silver: 10%
FD: 10%
There....
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Johnny Bitcoinseed
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Johnny Bitcoinseed
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October 16, 2013, 01:49:23 PM |
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Gold and Silver have been stores of wealth for thousands of years. Nothing has changed.
Good to have all three. Start with gold and silver first. Those are sure things. But put at least some of your nest egg into Bitcoin just in case it goes mainstream and rockets upward in value.
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Kaiji
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Hoist the Colours
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October 16, 2013, 03:20:10 PM |
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The gold and silver ETFs (GLD & SLV) are determining the physical metals price. The amounts of paper silver and paper gold traded per day is many times the amount of physical gold and silver available for delivery. This game has to continue to ensure that the quantitative easing (money printing) appears effective. Do your due diligence, if you believe this to be the case, and you have strong hands, and a long term perspective, then gold and silver appear very attractive as an investment and as a store of value. Comparing charts of metals to btc does not correlate due to this, availability, desirability, popularity, and quantity. Gold, silver, bitcoin - all are equally attractive, in different ways and scenarios.
Never understood why such business practices are allowed. It's just plain fraud that only a select few can perpetuate. Any normal person who tries to sell "fake" goods that they don't have will go to jail plain and simple. To answer the author: I am no economist and have been wrong before but in the short term Bitcoins is the best bet for a hefty return. There have been a string of good news pushing the price higher and higher. And now there is no Silkrd (SR) to be hacked causing prices to fluctuate. The fact we are having a huge rise after SR was taken down is unbelievable good news. Gold and silver are more longterm. People might flock to them more as the economic uncertainty increases. |
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westkybitcoins
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Firstbits: Compromised. Thanks, Android!
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October 16, 2013, 04:50:18 PM |
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Gold and silver are more longterm.
Good point. If the price of bitcoins skyrockets in the short term (say 5 years or less) relative to precious metals, it's likely a wise idea to diversify some of the profits back out toward other assets. I'm confident bitcoins will appreciate, but I acknowledge that there's a caveat--there does exist the chance of it being rendered obsolete by a better cryptocurrency in the next several years (although the longer it lasts, the less likely the risk of that particular situation occurring.) |
Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
... ... In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber... ... ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)... ... The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
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peonminer
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October 16, 2013, 10:14:08 PM |
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Gold:  Bitcoin:  Take your pick. |
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domob
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October 17, 2013, 06:21:42 AM |
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This is a better diversification.
Bitcoin: 10%
PPcoin: 10%
Litecoin: 10%
Primecoin: 10%
Feathercoin: 10%
Stock: 10%
Property: 10%
Gold: 10%
Silver: 10%
FD: 10%
There....
While I do have some altcoins as diversification, I (personally) would suggest to a) include Namecoin, as it seems to be the most promising alt-coin (even after the recent bug and upcoming hardfork), b) exclude FTC and XPM, as I don't see them as that important/useful, and c) put way less money into altcoins and much more into PMs and Bitcoin. I have like 5-10% of my BTC holdings in altcoins, and am not really sure whether even that is a good strategy. |
Use your Namecoin identity as OpenID: https://nameid.org/Donations: 1 domobKsPZ5cWk2kXssD8p8ES1qffGUCm | NMC: NC domobcmcmVdxC5yxMitojQ4tvAtv99pY BM-GtQnWM3vcdorfqpKXsmfHQ4rVYPG5pKS | GPG 0xA7330737 |
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LiteCoinGuy
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In Satoshi I Trust
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October 17, 2013, 11:20:51 AM |
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all 3.
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Johnny Bitcoinseed
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Johnny Bitcoinseed
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October 17, 2013, 01:33:52 PM |
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The current value of gold is kind of a lie...the reason being the Fed pumping billions of fiat dollars every month is fueling the stock market, which continues to rise in spite of the poor economy (the exact opposite of what should happen).
This causes people to put their money into stocks instead of into gold because they think the Fed will continue to print, print, print. You see this when another round of QE goes through - stocks rise and gold falls. The stock market is vastly inflated and gold is deflated because of this.
When the money printing stops (and it will have to eventually), the people who have money in stocks are going to get slammed hard as everyone tries to get out fast. Some will flock back to precious metals, where they really would be if the Fed wasn't printing money like its out of style to prop up the market.
When it comes crashing down, you can keep your dollars and I will keep my gold and silver. We will see who has best maintained their wealth :-)
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