The biggest secret is that banks buying crypto a lot not gold the gold is for retail buyers.
How do you know if it's such a huge secret? Do you have a private channel where bankers talk to you about their plan or something? I don't know, it sounds like you're just seeing what you want to see. It doesn't make sense for them to abandon gold even if they're going to buy more crypto, because it has a good record for a hundred years now. Most people still don't think crypto is as safe as gold, so there's a huge chance they'll just withdraw their money from the bank if they know about this.
No offense but I think OP doesn't know what he's talking about or he's telling us about his dream.
According to several reports from the World Gold Council, central banks have increased their gold holdings in recent years due to increasingly volatile geopolitical situations. In particular, the PBOC has accumulated an unprecedented amount of gold in recent years to prepare for China's de-dollarization idea. So, without concrete evidence, the claim that central banks are selling gold to buy crypto is a BS claim.
Crypto is just a speculative market, banks will not need such risky assets.Hopefully, any banks investing into bitcoin are able to recognize the difference between bitcoin and crypto, and so in that sense, any of them that have any clues would be ONLY investing into bitcoin - not shitcoins and/or crypto. Sure, some of them might not know the difference between bitcoin and crypto. .and they might be distracted into thinking that various shitcoins are valuable.
This makes absolutely no sense. Why would banks give up their gold to buy Bitcoin or cryptocurrencies? They could simply buy cryptocurrencies with their cash without compromising their gold...
I remember a senator had an idea for the United States to sell part of its gold reserves to buy Bitcoin, but the proposal was rejected. I don't think banks or governments would give up their precious gold for cryptocurrencies. If they were to buy Bitcoin, it would make more sense for them to give up their inflated fiat currency, not their precious gold.
You can proclaim that it makes no sense to sell gold and buy bitcoin, yet both will happen. You likely do not understand bitcoin if you are thinking that gold is as valuable as bitcoin in terms of its various monetary properties. Does it need to be repeated? Scarcity, verifiability, transportability, divisibility, ability to privately hold without as many costs and other monetary properties.
Banks, financial institutions, other institutions, governments and individuals will buy bitcoin and they will sell gold. It is already happening and will continue to happen, and sure it might not happen exactly in the order that you might expect and the action of buying bitcoin and/or selling gold is not always going to be clear, including the existence of paper gold/bitcoin and the existence of actual gold/bitcoin might sometimes cause confusion between the actual product and the various kinds of derivatives (and whether the derivatives are backed up).
Sure, some of institutions, governments and/or individuals will continue to hang onto that relic shiny rock, but sooner or later most of them, and then later all of them will recognize and/or appreciate the writing on the wall and that bitcoin is multiples, magnitudes and perhaps even in the 1,000x or more valuable than gold (referring to actual monetary properties and how each are valued in terms of market cap). Sure, some will go to their graves remaining poor and without bitcoin and in denial and perhaps even some will continue to cling onto their shiny objects, so there will likely continue to be those folks and perhaps some will even pass such outdated ideas onto the next generation, yet they are going to continue to be relative losers as compared to the folks allocating into bitcoin.
No bitcoin is not the same as shitcoins.. Even the title of the thread is wrong since crypto does not matter too much in terms of the value and competition with gold, and bitcoin is where the innovation exists in which digital scarcity has been largely resolved and the various meaningful network effects (
as outlined by Trace Mayer) have been growing on bitcoin and will continue to grow on bitcoin ..
Sure, there will be some who continue to not recognize the prize (bitcoin) and who are distracted into shitcoins and/or into other nonsense and/or believing that gold will recover.. but even some of them will end up realizing their mistakes and most if not all of that value will gravitate into bitcoin with the passage of time. and sure it could take 50-200 years for bitcoin/gold to actually reach an approximation of their relative values in which bitcoin is in the ballpark of 1,000x or more valuable than gold, so it is not as if the future can be known with any level of precision, and it is not even guaranteed to play out, even though any of us should be attempting to figure out our own allocations so that we are not fooled into thinking that gold has any kind of meaningful chance against bitcoin, even if maybe some of us might consider keeping up to 10% of our value in gold as compared with bitcoin, it may also not be necessary to keep any value in gold, since bitcoin serves such purposes (hedge against the dollar and other corruptions of the fiat-based systems), even better than gold - with bitcoin's unfair advantage of being in its relatively early adoption phases.
Retail buying gold and banks selling them to buy crypto.
Gold is useless for banks in the new financial system gold is not corruption free like btc or crypto there is no actual track of gold how much gold is minted and controlled so bankers don't need gold they need btc and crypto.
Retail buying gold so bankers selling gold and buying crypto.
The biggest secret is that banks buying crypto a lot not gold the gold is for retail buyers.
Which of the cryptocurrency are the banks buying?
Is there a source to this your points or you're working on assumption?
Only bitcoin, and I am not going to provide any sources. Hopefully, you can figure out these matters for yourself so that you can also invest into bitcoin rather than being distracted into overly allocating into gold.
Now what i have to say is this, gold is no more invoking as before because it is centralized, while bitcoin is decentralized, gold is in physical form while bitcoin in digital form, there are many things to consider why bitcoin in cryptocurrency should have more edge than gold starting form its profitability down to other benefits.
Both bitcoin and gold have paperized versions, so even with bitcoin, we cannot always be clear if the institutions have the quantity of bitcoin that they claim to have. It does become more difficult to fractional reserve bitcoin since it is much easier to take possession of your bitcoin, yet it still seems likely that there are going to exist quite a few instances in which third parties are not going to have the bitcoin that they claim to have, and some of them may well end up wrecking themselves and wrecking any clients that rely on their having the bitcoin that they claim to have. It is difficult to know how all of this is going to play out, since surely even in bitcoin there are some BIG players who are likely playing around with paper bitcoin.. and perhaps even thinking that they can manipulate bitcoin like has been done with gold over the past 20-30 years or so. Of course, some of the recent craziness in gold prices may well relate to suspicions that some entities do not have the physical gold that they had previously claimed to have had. It is difficult to know how these matters re going to play out, even though we know that it is a lot easier to take physical possession of bitcoin (the private keys) as compared with taking physical possession of gold, yet some folks, institutions and governments have intentionally entered into contracts in which they are not able to take possession of their claim on bitcoin, so from time to time, there surely are going to end up being questions in terms of if the entities who supposedly are holding the bitcoin (the private keys) actually have the quantity of bitcoin that they claim to have.
Retail buying gold and banks selling them to buy crypto.
You are telling this with such confidence as if you have inside information. Give examples of which banks are getting rid of gold and buying crypto.
I am not going to try to defend Mansory22022 here, yet he does not seem to be wrong.. at least when it comes to bitcoin. I doubt crypto matters, but bitcoin sure.
Gold is useless for banks in the new financial system
What new financial system? At the moment, the world still has the same traditional financial system. Changes have not yet occurred.
The new financial system is not necessarily going to announce itself to you, and so hopefully on an individual level, you have been making sure that you gain exposure to bitcoin in order to skate where the puck is going rather than skating to where it is. Since you have been registered and participating in this forum since 2017, you should know better m2017.
gold is not corruption free like btc or crypto there is no actual track of gold how much gold is minted and controlled
Who told you that? Quite the contrary, it is one of the controlled spheres. Banks are not some pawn shop off the street.
Maybe Mansory22022 is not 100% accurate, yet it seems that he is directionally correct, since it is way easier to audit bitcoin (every 10 minutes) as compared with gold, whether we are referring to physical gold or the various paper claims to gold. You better be careful m2017 if you are placing so much reliance on the supposed "controlled spheres" of gold, since many of us should already realize that there are likely around 100x or more paper claims to gold than what gold actually exists, and sure, I don't have the exact data, yet it seems to me that bitcoin's verifiability gives it a lot of advantages over gold, including affecting the dynamics in terms of how easy it is to manipulate gold as compared with bitcoin, yet surely there are going to be a lot of similar attempts to manipulate bitcoin,
yet bitcoin's characteristics are surely going to cause challenges in regards to whether bitcoin is going to be able to be as manipulated as gold.. and so sure, we still have to see how the manipulation attempts are going to play out, and bitcoin is surely not guaranteed to be victorious in regards to its not being manipulated. Personally, each of us should be attempt to figure out our own allocations, and even how we might hold bitcoin based on our own confidences, which in spite of some of bitcoin's potential faults, it seems that bitcoin is in a better than gold to withstand various manipulation attempts (it was designed for such, but they are not 100% guaranteed to withstand all of the possible attacks).
so bankers don't need gold they need btc and crypto. Retail buying gold so bankers selling gold and buying crypto.
If this were the case, banks would have started buying up crypto long ago. Somehow this is not observed.
You may be correct that banks are largely laggards when it comes to their bitcoin allocation (who cares about crypto?), yet it seems that they are ongoingly coming around to bitcoin, whether you recognize such dynamic or not. Some will end up buying bitcoin directly (or custodying it for clients) and others will be buying exposure through bitcoin spot ETFs or maybe buying MSTR or some other similar stocks. Sure, it might not be very prevalent for banks to be buying and/or holding bitcoin but they are increasingly looking into it and likely becoming more and more sympathetic to bitcoin, even though they likely recognize and/or appreciate bitcoin as a pretty stiff competitor. Sure some of them will get involved in stable coins, but the only part that really matters is their bitcoin strategy to the extent that their bitcoin strategy is still evolving. By the way, banks have quite a few restrictions, and even in the USA, many banks were being attacked for their being involved in bitcoin, and so recently some of those restrictions have been relaxed, which is likely going to continue to motivate banks to get involved in bitcoin.. whether custody or holding in their treasuries.
The biggest secret is that banks buying crypto a lot not gold the gold is for retail buyers.
It is no secret that banks make money by selling gold to retail buyers, because every bank offers this service. If it were not profitable, there would be no such offer.
You are likely correct that banks have historically bought and sold gold, and they may well continue in such practice as long as it remains profitable. I don't have any personal experience in it, yet I heard that Costco's recent entrance into the gold selling business has been pretty profitable for them, yet I think that Costco only sells gold, and they do not buy gold... so anyone buying gold then has to figure out where to sell it, and I usually hear about gold being bought at places like pawn shops and I had never really heard about being able to sell gold through a bank, even though maybe the bank deals with paper gold rather than physical gold? and maybe it depends on jurisdiction regarding what the banks are doing or able to do in regards to either buying and/or selling gold and in the future if some of them might get involved in buying and/or selling bitcoin (and perhaps shitcoins?).
Even If gold have utility and use case then corporations want to buy gold for cheap off course they do that when gold crashing while btc and crypto will go up.
All this gold shilling what's going on is just for bankers to get rid of their gold and buy btc you see brics nations buying up gold so that gomex of western countries can use gold futures to manipulate gold price up without even buying gold with eur usd or gbp currency.
Gold now is biggest dump project on the silly retail traders with the help of india and china together with wall street and western bankers.
I couldn't get through it and read it to the end.
No offense, but it sounds like a tabloid text. Where's the proof?
You may be correct that Mansory22022 could outline his various ideas a bit better in terms of gold getting dropped and bitcoin getting picked up, yet he likely is directionally correct - even though these matters take time to play out.
Even If gold have utility and use case then corporations want to buy gold for cheap off course they do that when gold crashing while btc and crypto will go up.
All this gold shilling what's going on is just for bankers to get rid of their gold and buy btc you see brics nations buying up gold so that gomex of western countries can use gold futures to manipulate gold price up without even buying gold with eur usd or gbp currency.
I am not trying to say gold is a dumping because it has been a good reserve for a long time but now that bitcoin is more popular there is a case to be made for buying it.
Most countries have been considering bitcoin as a strategic reserve and maybe they are starting to realize the long term effects that bitcoin can have.
Gold is much safer but the returns are quite slow so some countries are starting to take the risk for the new challenge in bitcoin.
Gold is also increasing in terms of reserves and most countries are increasing their gold reserves instead of selling them.
So there are certain reasons why gold and bitcoin are the choice of many countries now and maybe many of us have our views on this.
Since you have been on the forum since 2015 tottong, you should recognize and appreciate that adoption and/or allocation of bitcoin versus gold is not a static situation, whether we are referring to institutions (financial or otherwise), individuals and/or governments, and any of us should recognize/appreciate that bitcoin is becoming more and more adopted with the passage of time and more and more systems coming into place to facilitate its increasing adoption, including ways that institutions/governments and individuals can get in more easily through financialization products, such as the bitcoin spot ETFs and/or purchasing of stocks like MSTR that largely attempt to reflect bitcoin adoption/price/and/or leverage on bitcoin adoption/price, yet you seem to believe that gold is also getting adopted more and more by governments, which seems that you are getting distracted by some short-term gold flow (and short-term gold pumpening) dynamics, which are not likely to be lasting in regards to BIG picture momentum that we have around the actual superior monetary attributes of bitcoin as compared with gold and also the unfair advantage that bitcoin has in terms of it being so damned early in its adoption curve, that any of us should be nuts if we are even considering bitcoin to be even close to a mature asset in terms of comparing bitcoin to gold or to any other asset/monetary location that we might choose to allocate time, energy and/or value.
By the way tottong, your assertion that gold has been a good reserve seems to be out of touch with reality. Sure in long term historical terms gold might have had been a good reserve, yet since the introduction of bitcoin (even if we start fro 2012), gold has barely performed around the same as equities and/or property, which means that they were largely just staying the same as the debasement of the dollar, so yeah any of us would have had been better off to keep our value in gold, equities and/or property as compared with keeping our value in the dollar, yet that does not mean that gold, equities and/or properties appreciated much if any in terms of their value - as compared with bitcoin.. and surely since 2012, bitcoin has gone from about $5 to $96k, which is right around 19,000x..
and sure, the whole situation of bitcoin as compared with gold is a bit unfair since bitcoin is still in its very early stages of adoption (in spite of the ongoing retarded claims that try to suggest bitcoin is either a mature asset or that bitcoin has already had its pump), and bitcoin's future performance as compared with gold's future performance is quite likely going to continue to be quite unfair since only around 1% of the world's population has any kind of allocation to bitcoin (in spite rich folks, some institutions and some governments talking about and perhaps even acting upon hoarding it), so we are still in early stages and even unfair stages when it comes bitcoin adoption and to how bitcoin is likely going to continue to perform as compared with gold, and hopefully guys participating in this forum are not so dumb as to put any more than 10% the size of their bitcoin investment size into gold, and even 10% into gold as compared to what they have put in bitcoin is likely too much, but sure, guys can do what they like..including getting wrecked if they are of the belief that gold has hardly any chance to perform even close to bitcoin in the coming years.. and it is not merely because bitcoin is "popular," as some guys here have mentioned, but instead because bitcoin is a superior and more sound money as compared with gold and as compared with any other asset and/or money that is currently available as a possible alternative place to allocate time, energy and/or value.
I am not trying to say gold is a dumping because it has been a good reserve for a long time but now that bitcoin is more popular there is a case to be made for buying it.
As you said it is a good reserve and has been and I think that many countries are still holding on to their gold reserves. Buying bitcoin does not mean they will be totally replacing gold. Maybe they are just focusing on increasing their bitcoin reserve since they probably already have more of gold. Bitcoin seems to be a lot more volatile than gold which is riskier but also serves more opportunities for bigger profit so that might be why they are focusing on bitcoin more.
But if you have enough funds, why not invest in both?It seem that only both as long as you are aiming towards having bitcoin around 90% of the proportion and gold to be no more than 10% of the size of the bitcoin. Anything close to 50/50 would be retarded and failure/refusal to recognize the superiority of bitcoin.
Sure, several traditional institutions and older gold bug oriented institutions, governments and/or individuals might overly allocate to gold and/or fail/refuse to appreciate that bitcoin is the superior place to be putting time, energy and value, yet if they at least get off zero bitcoin and slowly continue to increase their bitcoin holdings, then they are at least heading in the right direction, and those who allocate to bitcoin sooner (and more) rather than later are likely going to fare better than those who are either slow to allocate, whimpy to allocate or fail/refuse to allocate to bitcoin because they are living in the past.
There is a need to recognize that bitcoin has been invented and/or discovered, and bitcoin is a paradigm changing asset that slowly is growing in its network effects and going to likely continue to take over the world, even though sure it is still small and it takes time for systems to evolve, even though some will adopt sooner and others will continue to be laggards.
Of course, institutions, and governments tend to be conservative (and some are even hostile to bitcoin), and sometimes institutions are slow to move in terms of their investments, which gives individuals advantages as long as individuals both see the place to allocate their value and as long as individuals take action to allocate towards bitcoin rather than sitting on their hands, whine about changes in the world and/or denying that allocation into bitcoin would be the right and/or the more appropriate course of action for any one who has discretionary income. Sure, some folks do not have discretionary income, so they likely will not be directly advantaged by bitcoin unless they can figure out ways to increase their discretionary income so that they are able to invest in bitcoin.. .yet even without discretionary income, individuals are still likely to be advantaged by the more fair monetary/value systems that bitcoin incentivizes.
But gold also still be used for corruption because who doesn't want to have gold?
Yeah sure.. as of now, gold is still valuable.. but not as valuable as bitcoin, whether referring to present value or expected future value..
[edited out]
"There's no actual track of how much gold is minted". Well gold is mined, however the amount that goes through mints is generally public knowledge, but even that is irrelevant because demand is high and production is much lower. If you're going to make such bold and blind claims, you'd look much less silly if you actually backed it up with hard evidence - because right now it's just your imagination and a pack of unfounded lies. It would make sense that banks and other financial institutions get involved with bitcoin, but they don't really care about the "currency" because they already trade in many different currencies - this is nothing new to them.
Sure it is better when any of us back up our statements, yet the mere fact that some statements are not backed up does not make them to be lies or to not be directionally correct... which generally speaking bitcoin is increasing in adoption relative to gold and gold is going to continue to have its lunch eaten by bitcoin, so that is the general direction (and likely to continue to be the direction), whether any of us back up our statements or not.
I don't know the yastic used by these banks that are selling gold so they can invest in Bitcoin because Gold is one thing that countries stored their wealth on because of it's value because gold is one commodity that never depreciate making it one of the most valued commodities on earth many people will not sell their gold in the place of Bitcoin.
Just because you do not see it does not mean that it is not happening.. .which is an overall, ongoing and persistent movement of value into bitcoin, whether from gold or from the various other ways that value is held in less efficient ways than it can be held in bitcoin... there is no asset (or money), whether gold or otherwise that holds its value as well as bitcoin, since bitcoin is superior to all of the other assets/monies in terms of its monetary properties, so value is going to continue to flow into bitcoin (including the ideas of Gresham's law) whether you can see it or not.
Bitcoin is one thing that is revolutionizing the entire financial sector as it's now a means of investments so I will not advice anyone to sell his or her gold so that they can buy Bitcoin as Bitcoin of them are stores of value
You make little sense. Sure, maybe sometimes other things will be sold prior to selling gold in order to buy bitcoin, yet at some point, there may well be a realization that bitcoin is a better store of value and so therefore, there will be reallocations into bitcoin rather than gold, whether reaching 90% allocations of bitcoin as compared to gold or most likely less, since even holding 10% in gold as compared to bitcoin may be overly allocated into an inferior asset/money as compared with bitcoin.
