Gold is monetarily obsolete since 2009. Too easy to counterfeit, heavy, physical, …
The future is controlled scarcity/inflation in the digital realm, and only Bitcoin can do that without a central authority.
It may be easy to dupe many end users for now, but it is much more difficult to fool dealers and virtually impossible to get one over on mints and refineries. Were gold more prevalent, people would have more familiarity to a point where the ear is attuned to the sound and the hand recognizes valid heft. Not that counterfeiting would be eliminated, but it would go a long way to reducing the ease.
I do agree with the latter point, I just think the world isn't at that transition point yet. Within a decade, perhaps - in the 2020-2040 range, it's almost guaranteed.
this is all in your mind. i asked you before; give me a link to where i can sell the last remaining gold coins i have for this mythical $35000/oz price you keep touting.
the fact is the USD is rising relative to everything. unfortunately, real prices are reflected in the charts. i can now buy 1 oz of silver for 54% of what i did last May despite what you're preaching.
That's exactly the point - there is no direct
way of approximating the price without being part of the highest circles of influence. All of the official numbers thrown at us have been tainted by such an extreme level of unreliability that there's no way to trust them as being legitimate. The US employment numbers alone are so blatantly rigged that even the MSM has finally capitulated and run the story.
extrapolate based on the divergence between gold production relative to existing reserves, versus rates of fiat creation and associated debt instruments. Based on that, they are so far apart that the current prices for gold are nowhere even close to the low end of possibilities in fiat terms.
The best approximation I've seen is: Priced In Gold
goes up in value no matter what!!! anyone with a brain can see this is wrong.
Not "goes up in value no matter what" - maintains purchasing power relative to other real goods
no matter what. This distinction is very important.
as the USD skyrockets. wasn't the whole premise of gold/silver to offset a USD plunge?
i truly wonder who the true marketers are? certainly you guys.
as pointed out in the Etsy Labs talk. you guys are losing out on both ends; rising USD and falling gold/silver. must hurt.
problem is, you better hope you're not wrong.
it's actually become a religion.
The dollar and other fiat currencies can whip up and down all they want: physical holders can ignore them and do things other than obsessively trade or invest - like live their lives! What hurts is the sad trend of western nations toward a modernized Hitler/Mussolini/Stalin-style fascism and the associated destruction of humanity.
hey bitcool; who's trying to scare ppl into investing in what? i'd say gold bugs are notorious for this.
Do not play the demagogic politician by conflating my stance on precious metals with the patterns I see in social leadership. They may be related, but are still separable concerns. I truly hope that I am
wrong in the social context, but nothing is suggestive of that save the potential of a singular, transcendent event.
unfortunately, the screens reflect real prices, ie, reality. you're living in a dream.
A lie behind a screen, masquerading as reality, is not
reality. Let me know when you've mastered the ability to grab smoke and hold a reflection.
Gold is monetarily obsolete since 2009....
"Extraordinary claims require extraordinary evidence" -- Carl Sagan
"Hope is the denial of reality."
Are you talking about gold, or its obsoleteness?
It can be interpreted either way
a gold bugs worst nightmare is Bitcoin.
A gold bug's best friend is Bitcoin. There is no other financial instrument capable of offering improved functionality with the same set of emergent benefits.
When the time finally comes to make the transition, what else would ever be able to hold the wealth accumulated from millennia of use as a store of value than Bitcoin? Only Bitcoin or a variant of it.
Gold is the most likely 'default' at this time and probably will be for the rest of my life. I'm not especially happy about that reality, and if it every does realize the (rather unwelcome) 'mantle' I expect that it would be transient, but I'm a realist and simply want to take as few chances with my core nest-egg as possible. I'm happy to gamble my excess on Bitcoin, and do, as I've stated many times.
Default how, realistically? A transient period measured in years to decades doesn't seem so bad to me as a way of preventing destitution at the hands of fiat-pushers.
excuse me, but what is the reserve currency of the world? USD's last i checked. and in the midst of turmoil, what exactly is going up? oh yeah, USD's. and what exactly has been going down for almost a year? gold and silver.
And look at how much it is being denied continuance of its legacy by growing powers around the world. The dominant Silverback only maintains power for so long before his demise.
what about all these articles lots of ppl have been linking to about asteroids and gold synthesis?
Those are years, if not decades
away from actually occurring, let alone being economically worthwhile or even possible.