Pokapoka124 (OP)
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May 28, 2021, 09:10:47 AM |
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If you understand this picture, congratulations, if you don’t , then you don’t understand money , no matter how much you have in the bank. #Bitcoin is down 4% today. But next few months BTC could pump 400%. Pump or dump, storing your money in crypto beats saving up in the bank.
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Kong Hey Pakboy
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May 28, 2021, 09:21:06 AM |
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Well, 1967 has a different value of money back then and the money right now is just the same as back then, the difference is that there is an inflation so whatever you are trying to imply on this post, you failed. You are right about storing your money on crypto in a bank though, crypto is a poor man's hedge for inflation.
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Tytanowy Janusz
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May 28, 2021, 01:20:12 PM |
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If you understand this picture, congratulations, if you don’t , then you don’t understand money , no matter how much you have in the bank. #Bitcoin is down 4% today. But next few months BTC could pump 400%. Pump or dump, storing your money in crypto beats saving up in the bank.
"Gold is good store of value, so buy bitcoin" That's what you just said Good picture: In term of store of value - I can't imagine a rational,experienced investor that go all in Bitcoin to "store value of his money". But I do understand a rational investor that puts 10% of his money into bitcoin, and the rest in gold, silver, value stocks, reits, real estate. Thats the true bulletproof portfolio for inflation hedge.
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c_atlas
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May 28, 2021, 01:44:36 PM |
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This picture is misleading, gold prices in 1933 cost around $500 USD (adjusted for inflation). The image suggests that each dollar in the 2 stacks has the same value, when in reality, the right stack is 1933 US dollars, and the left stack is 2020 US dollars. The correct comparison would have been to have a stack of ~500USD on the right side, but that doesn't convey the pro-gold dogma as clearly. Also: We can pick dates as arbitrarily as we like. How small would my money stack be today, compared to 1980? Less than 15% the height of the 1980 stack.
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RealMalatesta
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May 28, 2021, 06:19:46 PM |
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If you understand this picture, congratulations, if you don’t , then you don’t understand money , no matter how much you have in the bank. #Bitcoin is down 4% today. But next few months BTC could pump 400%. Pump or dump, storing your money in crypto beats saving up in the bank. Even though I agree with the sentiment that having fiat means absolutely nothing at all and everyone should own something else to fight inflation. I however do not agree with the photo there, it is deliberately done that way. You can use just 100 dollar papers and it would look so much smaller, photo uses 1 dollars to make it even more higher than what it should have been, you would have either 1 20 dollar bill versus 17-18 bills and that would basically be it, you could literally use 1 dollar bill and have 20 bills for 1933, and use 100 dollar bills and have 18 bills for 2020, so 2020 would have less bills even though it is so much more money. We already have a valid point and when you have a valid point there is really no reason why we should also look for other angles to carry out the message. Always but ALWAYS have something other than fiat that will value over time, usually people prefer real estate which works if you make a good investment, but gold would be fine, bitcoin would be great anything but fiat.
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Fortify
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May 28, 2021, 06:47:38 PM |
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If you understand this picture, congratulations, if you don’t , then you don’t understand money , no matter how much you have in the bank. #Bitcoin is down 4% today. But next few months BTC could pump 400%. Pump or dump, storing your money in crypto beats saving up in the bank.
I'm quite confused by the photo you decided to use. I guess you are trying to explain that the Dollar is worth much less but selectively choose to ignore the fact that gold is worth much more. One is not directly connected to the other. The gold standard was not fit for purpose in the 19th century and giving governments the flexibility to set monetary policy has been a major benefit to the vast majority of people around the world. A relatively small amount of gold is extracted each year - some is put to industrial purposes, some is used for making jewelry and some is just hoarded as a store of value like Bitcoin. That does not make gold special and gold has actually been losing ground to other precious metals in the last few years, so be careful which "horse" you back.
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jaysabi
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★777Coin.com★ Fun BTC Casino!
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May 28, 2021, 07:01:28 PM |
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If you understand this picture, congratulations, if you don’t , then you don’t understand money , no matter how much you have in the bank. #Bitcoin is down 4% today. But next few months BTC could pump 400%. Pump or dump, storing your money in crypto beats saving up in the bank. Only if your intention is to speculate and not preserve wealth. As you mentioned, bitcoin is down 4% today. Do you know how frequently the USD is down 4% in a day? Never. That's the difference. People who understand that bitcoin is nothing but speculation understand the true risk of putting all your wealth in a speculative asset. That's why even the most bullish crypto enthusiasts who are actually wealthy advocate for maximizing your crypto exposure at only a few percentage points of your wealth.
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Hydrogen
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May 28, 2021, 08:50:26 PM |
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I feel like there are many different morals and narratives to this story. The US abandoning a gold standard in 1933 is certainly relevant. The rise of the US dollar as a global reserve currency in 1944. To nation's like china working to undermine and replace the US dollar as the reserve currency in 2021. I've seen charts claiming average worker productivity from the 1950s to the present having almost doubled. While the average working day could be longer today than it was in the 1950s. There are many different trends at work. Different dimensions which make analysis complicated. The correct comparison would have been to have a stack of ~500USD on the right side, but that doesn't convey the pro-gold dogma as clearly. If inflation metrics were accurate. Wouldn't there be $1700 stacks on both sides of the table? One potential explanation for only $500 on the right side is inflation metrics being under reported. The way unemployment and virtually every other vital statistic has been under reported for decades.
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c_atlas
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May 28, 2021, 09:17:26 PM |
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The correct comparison would have been to have a stack of ~500USD on the right side, but that doesn't convey the pro-gold dogma as clearly. If inflation metrics were accurate. Wouldn't there be $1700 stacks on both sides of the table? One potential explanation for only $500 on the right side is inflation metrics being under reported. The way unemployment and virtually every other vital statistic has been under reported for decades. I don't think you can justify saying that the price of gold has not actually changed between 1933 and 2020 (after adjusting for inflation in all parts of the economy, not just normalizing against CPI). Gold itself is inflationary too, so if anything its price would have decreased. Keep in mind that the right side being $500 simply means that in 2020, you would need $500USD to buy 1oz of gold at 1933 prices (~20USD from 1933 = ~500 usd from 2020).
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jossiel
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May 28, 2021, 09:42:26 PM |
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I see inflation and bitcoin is one of the ways to beat it. if you don’t , then you don’t understand money , no matter how much you have in the bank.
It is okay, they may be hark working and a saver person and that's a good thing already for them as a start to learn how money works because they're responsible in keeping and saving. #Bitcoin is down 4% today. But next few months BTC could pump 400%. Pump or dump, storing your money in crypto beats saving up in the bank.
Yeah, literally said that beats the inflation.
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stompix
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Blackjack.fun
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May 28, 2021, 09:45:59 PM |
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"Gold is good store of value, so buy bitcoin" That's what you just said Pretty nice giving an example with the one thing Bitcoin might replace as a store of value, I wonder if that happens we're ever going to see these pics again but with just a few copper coins on the table this time? If you understand this picture, congratulations, if you don’t , then you don’t understand money, no matter how much you have in the bank.
If you would indeed be an expert you should have posted how much those 20$ would be now if put in a bank too with the annual interest But that would screw up the whole point you're trying to make, right? Or better, but for this you need to get 3 more tables, do one by putting that coin in Coca-Cola shares in 1919!
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just_Alice
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May 28, 2021, 09:55:26 PM |
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Wait-wait, how did we jump from gold straight to crypto? Are you suggesting that crypto is as good an instrument for hedging inflation as gold? Then I'm about to disappoint you... First of all, gold isn't such a good hedge, it's been shown many times. Secondly, crypto is even something riskier. Yes, Bitcoin can be up by 400% anytime soon, but have you considered that it's as likely to be down? No matter how much you believe in crypto, you have to be rational. Putting all assets at stake is irrational, IMO.
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perfect999
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May 29, 2021, 08:28:00 AM |
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If you understand this picture, congratulations, if you don’t , then you don’t understand money , no matter how much you have in the bank. #Bitcoin is down 4% today. But next few months BTC could pump 400%. Pump or dump, storing your money in crypto beats saving up in the bank. Yeah that’s true. If you take a look at the all time chart of Bitcoin you wouldn’t need anyone to tell you that investing in cryptocurrency would be the best thing to do for a long term because Bitcoin will eventually have more value than the fiat and only those who were able to have the level of patience to hold for a long time will benefit from it. Although looking at the image you have here – 1933 – 2020, that’s around 88 years and I don’t think anyone will be ready to hold for that long. Five years is good, because you need to reap the fruits of your labor.
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Kittygalore
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May 29, 2021, 01:38:10 PM |
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Wait-wait, how did we jump from gold straight to crypto? Are you suggesting that crypto is as good an instrument for hedging inflation as gold? Then I'm about to disappoint you... First of all, gold isn't such a good hedge, it's been shown many times. Secondly, crypto is even something riskier. Yes, Bitcoin can be up by 400% anytime soon, but have you considered that it's as likely to be down? No matter how much you believe in crypto, you have to be rational. Putting all assets at stake is irrational, IMO.
If people were to choose, I think that a lot of them would probably choose bitcoin and roll the dice whether it is going to go up or down unlike gold that doesn't even guarantee a big profit. Of course, you don't have to put everything that you have as an investment because it would be stupid to do so otherwise.
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charlesmichel1
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May 29, 2021, 02:04:19 PM |
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Amazingly. Hyperinflation will make the US dollar useless one day.
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so98nn
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May 29, 2021, 02:43:26 PM |
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I understood one thing from this picture: Gold is now very costly and so as to a candy bar, clothes, vehicles, broom stick and what not!! There are multiple angles to look at this picture. I mean if the cost of living is compared to that gold then be it, our wagers are being adjusted in the same manner. (Except developing & underdeveloped countries).
However, if we gonna consider the Fiat to crypto angle then yeah, crypto is the winning stick here and it’s gonna hit dollar bill very hard one day.
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Midy
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May 29, 2021, 06:10:04 PM |
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A person who invests in cryptocurrency might become rich overnight, if the moment he buys and sells is on time, but you need to take into account the risk when you buy bitcoin at a high price, and have to wait a long time, while the price of Fiat currency fixed and there is no risk of losing the money we have
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fiulpro
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May 29, 2021, 06:22:56 PM |
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See, fiat is important. Cryptocurrencies are important. Both of them has their own place which is irreplaceable. You have to understand for a fact that storing everything in cryptocurrencies might be efficient for rich and the wealthy. But you have to keep in check about the present too. The problem is, you can't take out money that instant. You would have to wait for the price go pump up so that you are not in a loss. Which does mean you might have to always keep some amount of money in cash. As an investment it's good but as a sole Investment entirely. It's foolish. There is nothing like banks are superior or cryptocurrencies are superior it's a synergistic relationship and the faster you understand it, the better it would be for your economic situation.
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GeorgeJohn
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May 29, 2021, 08:30:17 PM |
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Cryptocurrencies is very important to the global nations as we can see since the existence of cryptocurrency in the year 2009 and 2010, but right now we can't compare cryptocurrency with Fiat, because fiat has been in existence over ages which people values fiat than crypto, looking at the scenario very well young adults that are up to 70 years don't really value crypto but up till date old adults values fiat because they are have been acclimatized with physical currency than digital currency.
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