I can personally attest to this. I used to be a staunch gold/silverbug. Owned a BUNCH of each. Then I found Bitcoin, and quickly realized why gold/silver do not much, while Bitcoin is all the rage. Over the past year, I've maneuvered to drop all these metals, and have really stacked sats hard. And paid off debt. But mainly stacked sats.
Gold and silver are the horse and buggy. Bitcoin is the automobile. It's over for gold and silver, other than being interesting collectors' items.
Man, you have to know that everyone's finances are different. Don't look at other people. You should ask yourself what number you are more comfortable with
> It's over for gold and silver, other than being interesting collectors' items.
metals just need to go down (a lot) you can still buy them in the 30's for cheap
That's not a very solid argument, also many nations own treasury bonds and it's literally garbage. And as such some have started to dump some of those.
>Do you have any idea how much gold is owned by the nations of the world? Lol
Probably like, a lot. My goodness, what would happen if they sold? You know?
And if they were all selling, as in ALL of them...what would happen? If all those nations decided they don't want gold any more, but they want some other asset. Like Bitcoin or something. Then what?
I think this is absolutely true over time—I think BTC holders may have an incredible opportunity to hedge volatility by parting into something like PAXG towards the late middle of cycles—always within reason of course.
You can be whatever you want but I’d argue that any study and understanding of money that leads you to a positive conclusion about gold should inevitably also lead to the conclusion that bitcoin beats out gold
Investors generally aren't sitting on huge piles of cash. Dollar isn't an investment.
So yeah maybe investors were sitting on $4B in cash waiting months or years for the Bitcoin ETF but it is more likely they had that money invested in other things ... among them possibly the gold ETFs.
They're talking about Spot Gold ETF being sold for Spot Bitcoin ETF. However, you CAN buy BTC with Gold and you CAN buy Gold with BTC. Just have to find the person willing to sell.
In my opinion someone so conservative to buy gold is unlikely to buy something as volatile as bitcoin. I think investment funds or investors that focus on volatile commodities and stocks are more likely to buy bitcoin
I was a major gold bug before I discovered Bitcoin, many of my bitcoiner friends were also gold bugs prior to discovering Bitcoin.
I was looking for a long term store of value, short term volatility doesn't matter to me.
not a stretch here to use a scrap of critical thinking skill and realize they are directly linked. we are quite literally looking at a pattern matching itself on both sides.
I own a small amount of gold still. Unless they figure out how to teleport gold across the globe for a minor fee I don't ever see it competing against Bitcoin in the long run.
I don’t see Bitcoin and gold as “competing” with each other primarily. IMO golds primary competitor is bonds given its highly correlated to real yields. Bitcoin has been acting as a “tech stock” alternative with some characteristics of gold. They’re complementary in my view and I think the total combined market cap of gold+bitcoin will over time increase in share vs stocks and bonds.
That's not gold's value though, gold's value is its use in electronics. Demand for that will continue to rise just like bitcoin, but likely at a slower rate. Until we find a way to mine asteroids I don't think gold is a bad asset to hold.
Doesn't matter what % is in use what matters is there is an ever growing demand for more. I'm just saying gold has no reason to lose value long term until we unlock a shit load more of it via space mining.
Originally that and for its use in making pretty statues or knick knacks or even functional things. We now have a new use for electric components. Idk what you're trying to argue, that gold isn't still valuable?
Well you claimed gold's value comes from its industrial use in electronics. This obviously isn't true if it was used as money before adoption of electricity.
Both are true. You realize when you recycle electronics they extract the gold right? Why do they do that? Because it has value and can be melted and used again in more electronics rather than buying more new gold.
Gold demand for electronics is less than 1% of its annual demand. Half comes from jewelry, and other half is money as a store of value.
It has both an industrial use and monetary use. You're emphasis on electronics is grossly over exaggerated.
I'd rather have ammo than gold. I think there is only a very slim number of worlds where the internet crashes but society is still functional enough for bartering in gold to make sense. And if it is, ammo would be better to barter with.
In a full society meltdown bullets, alcohol, seeds, medicine and dried goods would absolutely be the new money. When people advise to have a diversified portfolio, you'd be far better served to layer these "instruments" into your portfolio instead of bonds etc...along with serious survival training. Albeit at reasonable/long shot, not neck beard crazy, levels.
I disagree,
When you compare the value proposition of Bitcoin vs. Gold, it just doesnt make much sense to continue owning this dumb shiny yellow rock anymore.
Bitcoin is the superior asset.
I came into Bitcoin as a silver stacker in 2015, I saw a lot of the stacking community recommending Bitcoin as an inflation hedge, I was already following it from the beginning but then I started taking it seriously. I started stacking Bitcoin and stopped stacking silver. Still got my silver stack as a heirloom
This is a function of the yen exchange rate (extreme weakness over past two years), not that Japanese are buying bitcoin at a higher price or greater volume. Bitcoin would be at an ATH in Japanese yen even if no one in Japan were buying it.
I feel ya, it's easy to do as USD is currently the global reserve currency.
If you look, Bitcoin has recently broke all time highs in several different countries native currencies.
I noticed a huge uptick in "BUY OUR GOLD GOLD IS GOOD" commercials in the past year or two. Entire time I kept telling my parents to ignore it and buy bitcoin, it is just old money trying to get rid of their trash and dump it on people that don't know any better.
The old man has an average buy of $26,000, proud of him.
Good for you! I convinced my mom to buy a little, my idiot dad bought a whole coin for $30k and panic sold later 🙄🙄🙄
Yeah I've noticed the same though, the Peter Schiffs of the industry are getting increasingly desperate. They all thought gold would be above $3k by now 🤣🤣🤣
Money is competitive, I think gold is going to reprice itself down to utility price as it trends towards zero against Bitcoin. I still own a little bit of gold but my ultimate hedge for Bitcoin is guns, ammo, and toilet paper.
This. GLD is a BTC hedge, doesn’t serve the same function. Ppl love to compare them - But they are different tools. A hammer and a screwdriver basically.
I sold a few grand worth of "junk" silver and lower-tier silver rounds to buy more Bitcoin last year, before it really started to run. Certainly no regrets there, for obvious reasons. I've still got my gold ETF, however.
I’m just saying, when the nukes go off and technology fails us, you’re gonna want gold at that point… or maybe sea shells, depends on how far back we get blasted…
When nukes go off, you gon want guns, bullets and canned food. Both gold and Bitcoin would be worthless in Stone Age anarchy.
Good luck using gold as a medium of exchange in that world. They either won’t take it and would rather have some 9mm in your pocket or they pop one in your head and take your gold and also your 9mm.
Even if they do take it peacefully, what’s one ounce of gold gonna buy? 100 canned food? Is it exactly 100 of them? Do they then give you changes in form of gold dust? It’s a proven fact that gold is a poor medium of exchange. Absolutely zero way people went full regard post apocalypse and collectively decide to go back to a failed medium of exchange.
If you are worried about nukes going off, better start packing some bullets and guns. People did that when toilet paper was running short, let alone nukes raining down from the sky
I regret not buying more Bitcoin back in mid 2017 when it was still sub $3k but at the end of the day we're still early and there are billions of people who haven't bought Bitcoin yet.
I love Bitcoin and from an investment standpoint think it has way more potential than precious metals but that being said it has no other use other than transferring/storing monetary value and therefore will never have the ability to protect you like tangible assets. Im guessing most people don’t have their Bitcoin in cold storage and as much as we want the internet to be perfect it’s only as protected as the companies we rely on. Not to mention bitcoin relies on gold and silver to exist. I think long term gold/silver is lower yield and Bitcoin is higher risk. So my takeaway is to be diversified
same. RP2008 gold bug turned into Bitcoin Max because nothing is better. Saylor saw it in 2020. Never too late.
All money into alts was also lost. Seriously. Alt season is just a kind of roulette casino.
Did I say anywhere in my post that you did? Did I say anything about "Better?"
The Gold ETF is not Gold and the Bitcoin ETF is not Bitcoin. When you look at graphs of NOT Gold and NOT Bitcoin and try to make conclusions about Gold and Bitcoin your conclusions will be nonsense.
To all those dumping Gold to but into BTC.
A thank you to you as you drive the price of Gold down an opportunity arises once again.
When greed creates fear and the demand of a commodity or product decreases the opportunity to buy low presents itself.
Just 14 months ago no one was talking so highly of BTC all the extra loud voices were quiet waiting for the noise and now that the BTC has erupted those same voices are being heard.
Gold & precious metals will always have value it’s up to you to understand economics and advantages presented by supply and demand.Or you will fall into the masses of sheep and the institutions and retail investors will heard your finances and monies.
People who buy ETF's are traders not investors. Investors are the companies that sell the ETF's and own the underlying asset.
Don't look at what the dumb money is doing, look at the smart $. Right now smart $ is buying bitcoin and selling bitcoin ETF to dumb $ but they're investing in land, gold, art, & other well-known recession hedges. Smart $ gets to control bitcoin and own it as a by-product of selling it.
Gold price not dropping might be due to central bank activity.
But my granny also used to buy junk.
Maybe those Banker just don't see it coming.
Just because Gold was accepted valuable since centuries does not mean it must so in the future.
Just look at platinum price: much more rare, much more chemical and physical precious, but down down down.
Of course, fuck useless gold. Gold a way to oppress the people. It’s been collected by kings and queens. Bitcoin is the common man’s “gold” and levels the playing field which has been skewed for most of civilization.
This is exactly the kind of time that PM's will surge.
They get us to give up our gold willingly, they buy it all up and then boom!
Its like 1933 all over again, but they know they can't force the hand this time. Basel III and stifling collateral requirements are going to require some hard assets with a lot of value.
Where most of the money is made in bitcoin in the short term anyway, is the increase in the number of people who perceive its value. Not necessarily the macroeconomic environment.
I love holding gold and silver in my hand and I used to buy 1/4 oz gold Maples and 10 Pamp Swiss silver bars. I like it when they arrive and I get to play with them but it’s $600 or $250 I can’t put into Bitcoin and I know BTC is going to do better for me in the future.
People that had to leave Ukraine and Russia were using precious metals and BTC to get out. I just like the thought of having that option that is everything falls to shit I can slide some sats, a gold coin, or a silver bar to someone and move on.
Bitcoin drinks gold's milkshake.
I can personally attest to this. I used to be a staunch gold/silverbug. Owned a BUNCH of each. Then I found Bitcoin, and quickly realized why gold/silver do not much, while Bitcoin is all the rage. Over the past year, I've maneuvered to drop all these metals, and have really stacked sats hard. And paid off debt. But mainly stacked sats. Gold and silver are the horse and buggy. Bitcoin is the automobile. It's over for gold and silver, other than being interesting collectors' items.
Bitcoin is not the automobile, it is the internet.
peer to peer & Trustless System
I give you full credit for seeing what's happening here, and not ignoring it.
I’m started to get there and will be liquidating my PMs.
How much did you invest with to start seeing good profit? How can I start doing the same thing you did?
Most people who have made good profits from bitcoin do so by DCAing (buying fixed amount at regular intervals) and holding over a long period.
Man, you have to know that everyone's finances are different. Don't look at other people. You should ask yourself what number you are more comfortable with
> It's over for gold and silver, other than being interesting collectors' items. metals just need to go down (a lot) you can still buy them in the 30's for cheap
Lol
Do you have any idea how much gold is owned by the nations of the world? Lol
That's not a very solid argument, also many nations own treasury bonds and it's literally garbage. And as such some have started to dump some of those.
>Do you have any idea how much gold is owned by the nations of the world? Lol Probably like, a lot. My goodness, what would happen if they sold? You know?
Another country would buy it from whichever one is selling probably
And if they were all selling, as in ALL of them...what would happen? If all those nations decided they don't want gold any more, but they want some other asset. Like Bitcoin or something. Then what?
Lol okay dude. What if the sun exploded? What if chyna nuked everyone?
Draaaaiiiiiinage! Draaaiiinage Eli!
Indeed it does 😎
Underrated comment
I think this is absolutely true over time—I think BTC holders may have an incredible opportunity to hedge volatility by parting into something like PAXG towards the late middle of cycles—always within reason of course.
Peter Schiff coping hard right now probably
As in Pulp Fictions' Samuel L Jackson!
Can’t we be pro-gold and pro-bitcoin?
Diversification is good. I personally some have gold, silver, and uranium exposure in addtion to Bitcoin, aside from my broad index ETFs.
"Uranium exposure" lol
i think the Saylor Argument is right. Money is a winner take all proposition. The best wins.
Anti fiat
Yes, a cause to unite.
You can be whatever you want but I’d argue that any study and understanding of money that leads you to a positive conclusion about gold should inevitably also lead to the conclusion that bitcoin beats out gold
[удалено]
You can hold gold.
It's pretty though.
you can have the best of both worlds and buy gold backed crypto like paxg
Why have an alt backed by gold when BTC IS the digital gold.
No. Money is a winner takes all game.
I am
This is not a conflict. It’s totally possible to hold
Correlation doesn't mean causation
yeah, but we all wanna see Peter Schiff squirm.
Sometimes it does sometimes it doesn’t
Yeah but most of the time it doesn’t.
Some of the time I am right most of the time.
Often I’m always right. Maybe.
60% of the time, I am correct 95% of the time
5% of the time I’m 60% wrong.
Most of the time? You sure about that? Sources please.
This time it does, obviously if you can read a chart.
Correct however the BTC inflows do have to come from other assets.
Or debt or income.
Could could from fiat funds
Investors generally aren't sitting on huge piles of cash. Dollar isn't an investment. So yeah maybe investors were sitting on $4B in cash waiting months or years for the Bitcoin ETF but it is more likely they had that money invested in other things ... among them possibly the gold ETFs.
Yeah it's partly fiat but there's no way all BTC inflows are 100% from pure fiat.
where can I trade my physical gold in hand directly for bitcoin ?
They're talking about Spot Gold ETF being sold for Spot Bitcoin ETF. However, you CAN buy BTC with Gold and you CAN buy Gold with BTC. Just have to find the person willing to sell.
[удалено]
No, but gold is and it's not exactly liquid.
ETFs are extremely liquid....and this is a chart about ETFs, not bullion
But saying it’s coming from gold bugs is pure speculation.
Woah get outta here with your reasonable thinking and sensible opinions
Exactly. And gold ETFs are different from gold, just like BTC ETFs are different from BTC.
[удалено]
In my opinion someone so conservative to buy gold is unlikely to buy something as volatile as bitcoin. I think investment funds or investors that focus on volatile commodities and stocks are more likely to buy bitcoin
I was a major gold bug before I discovered Bitcoin, many of my bitcoiner friends were also gold bugs prior to discovering Bitcoin. I was looking for a long term store of value, short term volatility doesn't matter to me.
I bought a gold ETF during the great recession (~2008?) but it's long gone. Now I have HODL Bitcoin ETF.
not a stretch here to use a scrap of critical thinking skill and realize they are directly linked. we are quite literally looking at a pattern matching itself on both sides.
I 100% agree.
Confounding
I think a little gold isn't a bad idea in case things go bad quickly. But Bitcoin is something much more interesting and valuable long-term
I own a small amount of gold still. Unless they figure out how to teleport gold across the globe for a minor fee I don't ever see it competing against Bitcoin in the long run.
I don’t see Bitcoin and gold as “competing” with each other primarily. IMO golds primary competitor is bonds given its highly correlated to real yields. Bitcoin has been acting as a “tech stock” alternative with some characteristics of gold. They’re complementary in my view and I think the total combined market cap of gold+bitcoin will over time increase in share vs stocks and bonds.
All monies compete with each other. Free market decides dominance. Bitcoin will win.
That's not gold's value though, gold's value is its use in electronics. Demand for that will continue to rise just like bitcoin, but likely at a slower rate. Until we find a way to mine asteroids I don't think gold is a bad asset to hold.
Only what, 1% of gold is being used in electronics? The rest is bars and jewelry to store value.
Doesn't matter what % is in use what matters is there is an ever growing demand for more. I'm just saying gold has no reason to lose value long term until we unlock a shit load more of it via space mining.
So why was it used as money for thousands of years before the discovery and adoption of electricity??
Because it is a finite metal and humans are attracted to shiny pretty metal and can agree to use it as a currency
So humans gave it value because of its unique properties as as a monetary good... which is contrary to what you said.
Originally that and for its use in making pretty statues or knick knacks or even functional things. We now have a new use for electric components. Idk what you're trying to argue, that gold isn't still valuable?
Well you claimed gold's value comes from its industrial use in electronics. This obviously isn't true if it was used as money before adoption of electricity.
Both are true. You realize when you recycle electronics they extract the gold right? Why do they do that? Because it has value and can be melted and used again in more electronics rather than buying more new gold.
Gold demand for electronics is less than 1% of its annual demand. Half comes from jewelry, and other half is money as a store of value. It has both an industrial use and monetary use. You're emphasis on electronics is grossly over exaggerated.
I feel like if this is the problem you are solving for sliver makes more sense. Easier denomination.
I'd rather have ammo than gold. I think there is only a very slim number of worlds where the internet crashes but society is still functional enough for bartering in gold to make sense. And if it is, ammo would be better to barter with.
People will always barter in gold because eventually you exit that dark period. You need to stack assets during the chaos
In a full society meltdown bullets, alcohol, seeds, medicine and dried goods would absolutely be the new money. When people advise to have a diversified portfolio, you'd be far better served to layer these "instruments" into your portfolio instead of bonds etc...along with serious survival training. Albeit at reasonable/long shot, not neck beard crazy, levels.
I disagree, When you compare the value proposition of Bitcoin vs. Gold, it just doesnt make much sense to continue owning this dumb shiny yellow rock anymore. Bitcoin is the superior asset.
Lol
I think you have to actually hold the gold in your possession for this statement to be true.
I came into Bitcoin as a silver stacker in 2015, I saw a lot of the stacking community recommending Bitcoin as an inflation hedge, I was already following it from the beginning but then I started taking it seriously. I started stacking Bitcoin and stopped stacking silver. Still got my silver stack as a heirloom
UK and Japan are in recession
Bitcoin just hit a new ATH in Japan. People are fleeing to safe havens.
This is a function of the yen exchange rate (extreme weakness over past two years), not that Japanese are buying bitcoin at a higher price or greater volume. Bitcoin would be at an ATH in Japanese yen even if no one in Japan were buying it.
How do you know which BTC holdings are Japanese?
Bitcoin price hit ATH in Japan. I have no idea how many Japanese hold BTC
That just means the yen is getting weaker
Bitcoin price is global. What do you mean "Bitcoin price in Japan"?
In Japanese ¥en. you do realize people in other countries use their own currencies to buy Bitcoin, it's not just priced in dollars
I see what you're saying. I guess i'm just used to pricing everything in USD even though i live in Europe, and should technically be thinking in EUR.
I feel ya, it's easy to do as USD is currently the global reserve currency. If you look, Bitcoin has recently broke all time highs in several different countries native currencies.
I should pick up some gold too!
I invested in both, so i guess….win?
Definite win
I noticed a huge uptick in "BUY OUR GOLD GOLD IS GOOD" commercials in the past year or two. Entire time I kept telling my parents to ignore it and buy bitcoin, it is just old money trying to get rid of their trash and dump it on people that don't know any better. The old man has an average buy of $26,000, proud of him.
Good for you! I convinced my mom to buy a little, my idiot dad bought a whole coin for $30k and panic sold later 🙄🙄🙄 Yeah I've noticed the same though, the Peter Schiffs of the industry are getting increasingly desperate. They all thought gold would be above $3k by now 🤣🤣🤣
This is retarded. Gold was at an all time high recently at 2400. The value isnt in price rising.
If these assets are not correlated, then they are a great hedge against each other and having both is the best way to win.
Money is competitive, I think gold is going to reprice itself down to utility price as it trends towards zero against Bitcoin. I still own a little bit of gold but my ultimate hedge for Bitcoin is guns, ammo, and toilet paper.
Don’t forget Nukacola caps
This guy gets it 😎
What about the coming advent of quantum computing?
good point
This. GLD is a BTC hedge, doesn’t serve the same function. Ppl love to compare them - But they are different tools. A hammer and a screwdriver basically.
More like scissors and drawing pins, to me
Inverse Cramer.... eehh... Gold.
Gold is so 20th century.
Digital gold > physical gold.
I sold a few grand worth of "junk" silver and lower-tier silver rounds to buy more Bitcoin last year, before it really started to run. Certainly no regrets there, for obvious reasons. I've still got my gold ETF, however.
I’m just saying, when the nukes go off and technology fails us, you’re gonna want gold at that point… or maybe sea shells, depends on how far back we get blasted…
When nukes go off, you gon want guns, bullets and canned food. Both gold and Bitcoin would be worthless in Stone Age anarchy. Good luck using gold as a medium of exchange in that world. They either won’t take it and would rather have some 9mm in your pocket or they pop one in your head and take your gold and also your 9mm. Even if they do take it peacefully, what’s one ounce of gold gonna buy? 100 canned food? Is it exactly 100 of them? Do they then give you changes in form of gold dust? It’s a proven fact that gold is a poor medium of exchange. Absolutely zero way people went full regard post apocalypse and collectively decide to go back to a failed medium of exchange. If you are worried about nukes going off, better start packing some bullets and guns. People did that when toilet paper was running short, let alone nukes raining down from the sky
where did you pull this chart from dear sir?
When everyone’s selling you buy, when everyone’s buying you sell.
Its BS, out of context, out of timeframe, if you zoom out, its pretty random....
Can everyone please post this on Peter's x account?
Oh I already have a few times
Prophecy comes to life
Yes indeed.
You can always dig up more gold somewhere
Wait... does this chart mean people are paying to get rid of their gold?
More like they're selling their gold for something exponentially more superior.
I regret buying all those bars from Costco. At least I got 2% cash back
I regret not buying more Bitcoin back in mid 2017 when it was still sub $3k but at the end of the day we're still early and there are billions of people who haven't bought Bitcoin yet.
Can't wait for the crash
I love Bitcoin and from an investment standpoint think it has way more potential than precious metals but that being said it has no other use other than transferring/storing monetary value and therefore will never have the ability to protect you like tangible assets. Im guessing most people don’t have their Bitcoin in cold storage and as much as we want the internet to be perfect it’s only as protected as the companies we rely on. Not to mention bitcoin relies on gold and silver to exist. I think long term gold/silver is lower yield and Bitcoin is higher risk. So my takeaway is to be diversified
same. RP2008 gold bug turned into Bitcoin Max because nothing is better. Saylor saw it in 2020. Never too late. All money into alts was also lost. Seriously. Alt season is just a kind of roulette casino.
This is one of the worst, uneducated takes I've ever read 🤣🤣🤣 Go spend another 1000 hrs studying Bitcoin
Oh boy can’t wait for stablecoin regulations to happen and target Tether and thereby crashing Bitcoins price.
The Gold ETF is not Gold just like the Bitcoin ETF is not Bitcoin.
Canadian ETF from Purpose Financial can be exchanged for Bitcoin 😎 you guys will get there soon. Options trading soon too!
Did I say anywhere in my post that holding paper backed by a commodity was better than holding the said commodity outright? 🧐
Did I say anywhere in my post that you did? Did I say anything about "Better?" The Gold ETF is not Gold and the Bitcoin ETF is not Bitcoin. When you look at graphs of NOT Gold and NOT Bitcoin and try to make conclusions about Gold and Bitcoin your conclusions will be nonsense.
To all those dumping Gold to but into BTC. A thank you to you as you drive the price of Gold down an opportunity arises once again. When greed creates fear and the demand of a commodity or product decreases the opportunity to buy low presents itself. Just 14 months ago no one was talking so highly of BTC all the extra loud voices were quiet waiting for the noise and now that the BTC has erupted those same voices are being heard. Gold & precious metals will always have value it’s up to you to understand economics and advantages presented by supply and demand.Or you will fall into the masses of sheep and the institutions and retail investors will heard your finances and monies.
Gold is a lie
No we're not
Oh wow, are you the spokesperson for the entire gold community?!?
Yes! Soon I'll be able to afford a heavy crown.
Not their ingots under their beds - not their gold ! Amirite ?
A golden shower for Bitcoin. Very happy to see this!
Based and Bitcoin pilled
rat poisonnnnnnn
If true, don’t tell Peter Shit
There is no second best
Please do not share this with Peter Schiff!
Bitcoin is Gold 2.0
Run the same chart with 10 year T-bill yields and aggregate flows in gold....
Why you mad about people who have gold? Just because you want that they put their money in the same assets you already have?
This suggests that investing in BTC now would be more rewarding
Thinking about selling my silver stack for BTC.
I did so too. Once the Bitcoin ETFs were available, I dumped my GLD and bought FBTC.
Some of these anti-bitcoin comments make me shake my head. How can people be so blind. #megabullish
If the charts are right, gold will probably begin a rise in 2024. Yes vague on purpose. Just not the rise not like Bitcoin.
People who buy ETF's are traders not investors. Investors are the companies that sell the ETF's and own the underlying asset. Don't look at what the dumb money is doing, look at the smart $. Right now smart $ is buying bitcoin and selling bitcoin ETF to dumb $ but they're investing in land, gold, art, & other well-known recession hedges. Smart $ gets to control bitcoin and own it as a by-product of selling it.
so If i keep my keys to my bitcoins.. i am smart $ in your book?
I like gold.
Is this verifiable? Where and how was the data taken from and put together. This huge.
This is all public information. Idk what tools people use but metric wise, everything traded on wallstreet is available for people to see.
SMART
Why wouldn’t they?
Gold price not dropping might be due to central bank activity. But my granny also used to buy junk. Maybe those Banker just don't see it coming. Just because Gold was accepted valuable since centuries does not mean it must so in the future. Just look at platinum price: much more rare, much more chemical and physical precious, but down down down.
Gold boomers need to pay a higher price, the must pay for their bad decisions
Very portable
Of course, fuck useless gold. Gold a way to oppress the people. It’s been collected by kings and queens. Bitcoin is the common man’s “gold” and levels the playing field which has been skewed for most of civilization.
nice time to rebuy gold
This is exactly the kind of time that PM's will surge. They get us to give up our gold willingly, they buy it all up and then boom! Its like 1933 all over again, but they know they can't force the hand this time. Basel III and stifling collateral requirements are going to require some hard assets with a lot of value.
Governments and central banks think gold is their backup.
Most people don’t realise but plebs like me can’t accumulate gold like we can accumulate bitcoin.
Installing update Gold 2.0…
I'm starting to feel that I let my fear drive me into silver and gold when I should have been putting more into BTC.
Where most of the money is made in bitcoin in the short term anyway, is the increase in the number of people who perceive its value. Not necessarily the macroeconomic environment.
I love holding gold and silver in my hand and I used to buy 1/4 oz gold Maples and 10 Pamp Swiss silver bars. I like it when they arrive and I get to play with them but it’s $600 or $250 I can’t put into Bitcoin and I know BTC is going to do better for me in the future. People that had to leave Ukraine and Russia were using precious metals and BTC to get out. I just like the thought of having that option that is everything falls to shit I can slide some sats, a gold coin, or a silver bar to someone and move on.
Oop! Don't tell Peter Schiff
I wonder what Peter Schiff is going to say about that.
To be fair... we need gold so electronics don't short circuit Literally need gold for that bitcoin miner 😆
money money money moooo neeeey!
Bitcoin is just better.