China tells people to buy gold & silver

[nelsledma]

I think that's just a way to take people's attention away from crypto...

Bitcoin was $10 in 2010. Look at events from 2009 to 2016.

It is also good to buy gold and silver but now china has announced that Chinese should invest in bitcoin which is good for bitcoin and other crypto investors. Now they can also buy bitcoin and the rest. Now they are free in their investment choice. China government realizes the importance of bitcoin that’s why they decide to allow people to invest in bitcoin.

[marsmyname]

I think that's just a way to take people's attention away from crypto...

Bitcoin was $10 in 2010. Look at events from 2009 to 2016.

I think it depends on a country economical reason if they promote gold and silver they will in good development of their country and also they will de promote crypto from their country.

Before allowing people to trade and invest in bitcoin it was strongly believed that china is going to launch its own crypto and that’s why they banned bitcoin. China has big industry and they supply almost everything to the whole world and they know the importance of bitcoin therefore now they allow its people to invest in bitcoin and there cryptocurrency.

[chibimanau]

Perhaps the Chinese government does not want their people to invest in Crypto. So they choose real value products and use precious metals instead. Asian countries often use gold as jewelry, and China is the world's biggest consumer of gold

[Urtaev]

Thus, the Chinese authorities want to shift the attention of citizens from a more profitable investment in crypto-currencies.

[Legone]

I don't see any problem with that. Our family business is about gold and silver since the 90's and I think, 2012 is the year were gold and silver has its highest price. I think China promoting gold and silver works because the demand is really high that time. The sad thing is that it declined from 2013 until today. The demand for gold and silver goes down. People just want to buy smartphones and gadgets instead of jewelries.

Indeed, gold and silver were the oldest business since 1st century before the existence of paper money and crypto.  I believed that smartphones and gadgets are more demand than jewelries.6

[notary]

we can buy gold and silver if u r a conservative investor and I don't have any disagreements to the China if they r telling their citizens to buy gold and silver because they r indeed great investment though but if u r into more a high risk investment then BTC and other crypto are the best option.

[paulaitwesley]

Investing is risky.

However, the risk of gold and silver investment is stable and suitable for small and medium-sized investors.

And the investment risk of digital encryption money is very big! And digital cryptography is forbidden in China!

[Rizky Aditya]

I think that's just a way to take people's attention away from crypto...

Bitcoin was $10 in 2010. Look at events from 2009 to 2016.

I think it depends on a country economical reason if they promote gold and silver they will in good development of their country and also they will de promote crypto from their country.

That makes sense. Yes this is their democratic way to deal with things. They don’t force anyone to go for one thing. Rather choice is there for, things are clearly defined in front of public that is ultimately for the good sake of country. So definitely people go for that option and make better decision by buying the things are being described. So yes, good for them if they want to focus on gold and silver.

[Technos]

I'm surprised that one of the most authoritarian governments in the world is asking people to buy other store of value than their own fiat currency. Let's hope people follow that advice, so they protect themselves against inflation.

[miltonpogi]

As I see China advertise the form of investment a long time ago where in gold and silver are dominant, Some might say that this process is a technique for china to force there investors to buy gold rather than investing in cryptocurrency, but for me I don't see any malisious agenda of China in that idea.

[scorpionso]

this very wisdom advice because both of them world's ancient payment methods. and it seems they never lose their values in the near times. in my country gold is also very common investment tool for people.
if you make investment gold is really good tool. because everyday it is getting more and more valuable as btc.

[TooDumbForBitcoin]

lol Canada's gold reserve is still on zero from 2016 sell off. Nice strategy if you don't expect a crysis

[biskitop]

I don't see any problem with that. Our family business is about gold and silver since the 90's and I think, 2012 is the year were gold and silver has its highest price. I think China promoting gold and silver works because the demand is really high that time. The sad thing is that it declined from 2013 until today. The demand for gold and silver goes down. People just want to buy smartphones and gadgets instead of jewelries.

now demands on gold is goes down. because everyone thinks smartphones are more important than gold to support work and school. after all trading and online investment is currently more in demand than gold.

[Docafid888]

Well, thats something that they predicted best, china know how to invest and their government seem would like to keep their citizen safe by investing in gold and silver. The safest way to invest in long term.

[Opekin]

I don't see any problem with that. Our family business is about gold and silver since the 90's and I think, 2012 is the year were gold and silver has its highest price. I think China promoting gold and silver works because the demand is really high that time. The sad thing is that it declined from 2013 until today. The demand for gold and silver goes down. People just want to buy smartphones and gadgets instead of jewelries.

now demands on gold is goes down. because everyone thinks smartphones are more important than gold to support work and school. after all trading and online investment is currently more in demand than gold.

For real investors and businessman they will going to buy some gold because it was a good investment much more in the future. Kids or teenagers would value gadgets more than real assets that can be a source of big profits. Chinese peoples are smart in terms of business matters that is a reason why they are a rich country.

[darewaller]

Some major events as seen by China.

More....

It turns out that there is also “advertising” for gold and silver in China, too. The big difference here is that it is China's government which is advertising the “opportunities” in gold and silver and it is urging the Chinese people to buy gold and silver.

An article from mining web-site, Mineweb quotes a program which appears on China's largest (state-owned) television company, promoting bullion-buying in general, but stressing that silver is currently the best value for investors (no surprise to regular readers):

https://seekingalpha.com/article

Chinese government told/encourages its citizens to buy gold and silver in 2012.

Governments, always looking for ways to suck their citizens pocket dry. How can you be telling me to invest my money on gold and silver, what benefits are my going to get by investing my money into gold and silver ?

Yes, they are good, but you can’t use them to compare to what you will able to accomplish with the help of Bitcoin and other cryptocurrencies. Anyone that doesn’t succeed with Bitcoin can hardly succeed with Gold and Silver, and I’m serious when I say that, cause those things ain’t leading you to no where. Let them hold their gold and silver and let us choose what you need. They are not the ones to tells.

[ferrybitcoin.1996]

this very wisdom advice because both of them world's ancient payment methods. and it seems they never lose their values in the near times. in my country gold is also very common investment tool for people.
if you make investment gold is really good tool. because everyday it is getting more and more valuable as btc.

Besides that you already know, Jewelry has constant price. So, it will safe when you spend all money on it.
Rather you speculating with something virtual and you can get heart attack everytime. And, i think China Goverment has big plan for their economics with this persuation.

[noormcs5]

If China do it then what is problem in it? Because every government take a step and advertise these things to welfare the people. If China do it then definitely it has a benefit for China's people. Gold and Silver both are big business, and mostly trader do it and earn big profit from it.
But now a days, then trend has been changed people like laptop, mobile and trade with altcoin currency than gold and silver. May be that was the reason for China tell the people to buy gold and silver.

[First77]

As I see China advertise the form of investment a long time ago where in gold and silver are dominant, Some might say that this process is a technique for china to force there investors to buy gold rather than investing in cryptocurrency, but for me I don't see any malisious agenda of China in that idea.

Gold price have fallen from $1660/ounce in 2013 to $1350/ounce

[goldcoinminer]

As I see China advertise the form of investment a long time ago where in gold and silver are dominant, Some might say that this process is a technique for china to force there investors to buy gold rather than investing in cryptocurrency, but for me I don't see any malisious agenda of China in that idea.

Gold price have fallen from $1660/ounce in 2013 to $1350/ounce

I think in my own point of view,buying some gold or silver from the expense of bitcoin is not really a bad idea.They are still considered investments and they can be a good diversions aside from investing in bitcoin.