Bitcoin or Gold?

[mr mr]

3 hours ago, ThailandRyan said:

Daughter in the US just opened up my fathers safety deposit box, he passed away just before Christmas and his 74th Birthday.  In it she found bearer bonds from 20 years ago worth over 100k, and 200 Gold Krugerrands he had bought over 30 years ago.  There were even some Series EE savings bonds going back 50 years.  She was shocked to say the least, but what impressed her most was a flash drive with a note on the outside indicating he had 10 bitcoins and the key for it on the flash drive as well as the key written down for the wallet in a sealed envelope for her.  I would say he had not only invested for his future, but for that of my 2 daughters and son.  I was shocked when she called me from the bank.  He also has many accounts with Morgan Stanley, the local CU, and CUNA Mutual group.  She as a Forensic accountant will obviously make the best decisions for herself, her sister, and my son. 

 

Ryan you really got to break this habit of leaving your keys on the kitchen table. 

[ThailandRyan]

12 minutes ago, mr mr said:

 

Ryan you really got to break this habit of leaving your keys on the kitchen table. 

I know.  The kids rob me blind

[swissie]

Easy! The mining and storage of Crypto-Currencies consumes as much Electricy as a Country like Marroco consumes currently for all their electricity needs as a whole.

Multyply this on a global scale. We will all have crypto-currencies but no more electric power to make our light bulbs shine in the middle of the night.
The lack of electric power will prevent Crypto-Currencies from becoming a US$ replacement vehicule.
Those contributors on this Forum, offering a solution to the "Electricity-Problem" are very welcome. Upon success, the Nobel-Price in Physics is assured. If they find a way to produce a way to produce supplementary Electricity/Energy out of thin air to keep a "Global-Electronic-Currency" alive.

 

Otherwise:

McDonalds is not accepting Crypto-Currencies to buy a Hamburger.

A 2 week global "Power-Outage" will make any Crypto-Currency "dissapear" while my Gold Coins will still jingele in my pocket.

 

Good reading: "The Dutch Tulip Mania". Enjoy!

 

[JeffersLos]

2 minutes ago, swissie said:

McDonalds is not accepting Crypto-Currencies to buy a Hamburger.

 

Have you gone in there and used your gold coin to buy your Happy Meal with Super Hero toy and McNuggets?

[JeffersLos]

Perhaps a Future's bet.

 

Which will McDonald's accept first.

 

Payment made with a cryptocurrency, or with physical gold?

 

I'll bet on the side of CC. 

[Barnabe]

35 minutes ago, swissie said:

A 2 week global "Power-Outage" will make any Crypto-Currency "dissapear" while my Gold Coins will still jingele in my pocket.

In a two week global outage your coins will be jingling in the local warlord’s pocket while your carcass rots roadside ????

[fdsa]

10 hours ago, swissie said:

The mining and storage of Crypto-Currencies consumes as much Electricy as a Country like Marroco consumes currently for all their electricity needs as a whole.

Multyply this on a global scale. We will all have crypto-currencies but no more electric power to make our light bulbs shine in the middle of the night.

There are better alternatives to Bitcoin such as GPU-mined coins and PoS "proof of stakes" coins.

And they are not owned mostly by the Communist Party of China ????

[Barnabe]

$2 trillion stimulus should be announced soon.

 

We'll have another massive pump of stocks, real estate, precious metals and bitcoin... in other words, fiat is going down hard and fast.

[Poet]

I won't get into the arguments above, some quite insane, I will simply share my own perspective.

Gold will do well in 2021 (50%), Silver will do far better (200%), and Bitcoin will blow them both out of the water (500%).

This is my prediction, I don't need to hear all the tired old arguments against crypto. I heard them all when, during a similar thread here last March, I urged people to get at least some Bitcoin into their portfolio while it was still 5k. It was obvious, then, that it was going to rise and it continues to be obvious today at 37.5k (750%). I hope some members here took my advice, despite all the bitter old kooks who completely misunderstand what Bitcoin is and what is happening in the world.

There is no such thing as free money but this is a unique time. The world financial systems are completely rigged, distorted beyond any logic. They aren't even trying to hide the extent of the money-printing. You do not need to be a genius to understand that swamping the system with money will, inevitably, push massive amounts towards hard assets such as property, shares, metals, and Bitcoin. Bitcoin will benefit disproportionately as financial organizations have now decided that it is a good hedge against the impending collapse of fiat money.

This is going to be a dramatic year, financially. Many of the old certainties will collapse, while new systems will step forward into the spotlight. Bitcoin is clearly already on that trajectory.

 

[Poet]

Side-note: Don't let yourself get derailed by shills waving around arcane technical or environmental details as reasons why, rather than Bitcoin, you should invest in their preferred crypto. Unless you are going to do some serious research on sector, there are only two coins worth a damn: Bitcoin and Ethereum.

This is a Coke and Pepsi moment. As money-printing explodes this year, no Wall Street trader funneling money is going to be looking for exotic options. They will buy Bitcoin precisely because it is the brand everyone knows. To the extent that anyone has any appetite for a second option, they will go for Ethereum. In 2021, the whole game will be about storing value, the technical stuff doesn't matter at all, not if your objective is to make money.

 

[JeffersLos]

7 days and still waiting for bit kub to verify my account. 

[Barnabe]

1 minute ago, Poet said:

Side-note: Don't let yourself get derailed by shills waving around arcane technical or environmental details as reasons why, rather than Bitcoin, you should invest in their preferred crypto. Unless you are going to do some serious research on sector, there are only two coins worth a damn: Bitcoin and Ethereum.

This is a Coke and Pepsi moment. As money-printing explodes this year, no Wall Street trader funneling money is going to be looking for exotic options. They will buy Bitcoin precisely because it is the brand everyone knows. To the extent that anyone has any appetite for a second option, they will go for Ethereum. In 2021, the whole game will be about storing value, the technical stuff doesn't matter at all, not if your objective is to make money.

 

 

LTC maybe? But yeah, besides those 3, there might be one or two altcoins that survive and thrive, but it's a toss up, could be any of the current or future ones.

[Poet]

1 minute ago, Barnabe said:

 

LTC maybe? But yeah, besides those 3, there might be one or two altcoins that survive and thrive, but it's a toss up, could be any of the current or future ones.

I have heard good things about Litecoin but have avoided going down the crypto rabbithole. My strong gut instinct is that, whatever the technical merits of the various alternatives, Bitcoin's brand and valuation dominance give it an unassailable position. That vast majority of activity will occur there.

I resisted getting swept up in all the alt-coin hysteria a few years ago because it seemed obvious to me that Bitcoin was the best long-term bet, and I didn't have the time or interest necessary for short-term trading. Some of my most knowledgeable friends lost their shirts on alt-coins but Bitcoin has been fine, a great return compared to any other asset. Most importantly, it has been easy. I stick my money in there and just let it do its thing ????

[Barnabe]

2 minutes ago, Poet said:

I have heard good things about Litecoin but have avoided going down the crypto rabbithole. My strong gut instinct is that, whatever the technical merits of the various alternatives, Bitcoin's brand and valuation dominance give it an unassailable position. That vast majority of activity will occur there.

I resisted getting swept up in all the alt-coin hysteria a few years ago because it seemed obvious to me that Bitcoin was the best long-term bet, and I didn't have the time or interest necessary for short-term trading. Some of my most knowledgeable friends lost their shirts on alt-coins but Bitcoin has been fine, a great return compared to any other asset. Most importantly, it has been easy. I stick my money in there and just let it do its thing ????

 

I agree on the <deleted>coins. However I like LTC more than ETH, simply because the former is a cheaper version of BTC and works almost in the same way, whereas ETH is not deflationary like BTC and LTC (although they eventually want to move it into that direction). In other words, there is no limit for how much ETH is produced, and it increases at a fixed rate per year, while BTC / LTC have a hard limit on how many coins will ever be.

[Poet]

11 minutes ago, Barnabe said:

I agree on the <deleted>coins.

????
 

11 minutes ago, Barnabe said:

However I like LTC more than ETH, simply because the former is a cheaper version of BTC and works almost in the same way

So, we are both coming at this from different angles. I don't care about the functionality of any coin because I recognize that what is happening, right now, all over the world, is that money is desperately seeking a return. The money flowing into crypto only cares about the potential to retain and, hopefully, grow value. It is speculative, in a landscape with very few options.

In the same way that no gold investor actually cares about the potential to make jewelry, the vast majority of crypto investors only care about the likelihood that, in a year's time, there will be an even bigger pool of people willing to buy their Bitcoin from them, hopefully at a massive profit.

So, if you care about returns, the fact that there is a cheaper coin that works the same way as BTC or ETH is irrelevant. Interesting, but irrelevant.

P.S. I did not know that, unlike BTC, there is no hard limit on the number of ETH produced, worrying, thanks for that.

 

[Barnabe]

I think for now the ETH hard limit won't matter much if you're just looking to speculate for a quick buck.

For long term (5+ years) hodling, I'm sure it will make a difference, but looks like the developers are thinking into transforming it into a deflationary currency in the long term.

 

I also like LTC because it's a way to get exposure to altcoins with less risk. LTC has consistently been on the top 10 (sometimes top 5) most traded cryptos for years, it's not centrally controlled like that XRP <deleted>, and technically very similar to BTC.

 

The volatility is higher but still less than most altcoins. When BTC goes up 10%, ETH goes up 15% and LTC 20%, but the same moves apply when it goes down...

[rimmae2]

2 hours ago, JeffersLos said:

7 days and still waiting for bit kub to verify my account. 

Did u contact Bitkub by chat to find out what the problem is? Such delay in responding to a query is not my experience.

[JeffersLos]

1 hour ago, rimmae2 said:

Did u contact Bitkub by chat to find out what the problem is? Such delay in responding to a query is not my experience.

Reason for rejection: ชื่อบริษัท: กรุณาระบุชื่อที่ทำงานและที่อยู่ที่ทำงานของท่านให้ครบถ้วน
Company Name: Please specify your company name and office address. 

 

Resubmitted. Perhaps verified in another week. 

 

 

[Curt1591]

On 1/5/2021 at 10:22 AM, OneMoreFarang said:

The question is like: Do you want to gable with a million or invest it in something stable?

Gold has had value throughout time. 

[bkk6060]

3 hours ago, Poet said:

Gold will do well in 2021 (50%)

Think not.

Gold has only gone up 55% over the past 10 years.

US stocks have averaged even higher then that.

 

Then there is this:

The World Bank predicts the gold price is expected to decrease to reach $1,300/oz by 2030.

[Barnabe]

21 minutes ago, bkk6060 said:

Then there is this:

The World Bank predicts the gold price is expected to decrease to reach $1,300/oz by 2030.

 

The World Bank predicts? ????

You're better off asking a taxi driver what he thinks will happen to the price of gold in 2030, he will certainly be more accurate than the World Bank. I would bet hard cash on that.

[Barnabe]

Relevant to my discussion a few pages ago:

 

The crackdown might start soon, and the price of BTC will tank...

[Neeranam]

3 hours ago, Barnabe said:

Relevant to my discussion a few pages ago:

 

The crackdown might start soon, and the price of BTC will tank...

There was lots of talk with Ripple when she was head of the IMF last year.

[Neeranam]

The banks are <deleted>ting themselves.

 

 

[Barnabe]

31 minutes ago, Neeranam said:

There was lots of talk with Ripple when she was head of the IMF last year.

 

Because Ripple is governed by a central entity, hence can be controlled. Their fear (which is well founded) is losing control of the financial system. And where we disagree, is that I believe that they won't go down without a very hard fight.

[CrunchWrapSupreme]

4 hours ago, Curt1591 said:

Gold has had value throughout time. 

Indeed. If anyone has doubt, just ask your Thai lady. ????

[Poet]

18 hours ago, bkk6060 said:

The World Bank predicts the gold price is expected to decrease

Not sure if you intended that to be so funny, but bravo.

 

[Poet]

18 hours ago, Barnabe said:

The crackdown might start soon, and the price of BTC will tank...

The scene is clearly set for a significant increase in taxes and the flipside of that has to be sealing up the holes through which money tries to escape. The incoming Biden administration have been clear that they intend to pressure countries throughout the world to join them in this.

That does not, however, mean the price of BTC will tank. What we have seen when individual countries who have centralized control of money, such as Venezuela, is that families have shifted money out as fast as they can by any routes available to them. That was what fueled the 2017 Bitcoin boom.

The government responses to the Corona virus have been extraordinarily expensive. Over the next few decades, governments will have no choice but to extract as much money as they can from citizens (and, indeed, expats who happen to be living in their countries).

Many will be horrified and disillusioned by the collapse in value of their currencies. This combination of circumstances will fuel interest in alternatives and, for familes rushing to get money out, Bitcoin is by far the easiest and most physically secure method. This momentum will allow Bitcoin to form the basis of an enduring alternative global money system, something only necessary when the official system becomes too restrictive and no longer viable for many vital purposes.

 

[Mansell]

Just saw on the BBC the guy who threw his hard drive out with his Bitcoin Wallet on it some years ago when it was worth 2.3 million pounds. If he could recover it now it would be worth in excess of 230 million pounds.......Oops!

I never throw my gold away.

[Sujo]

41 minutes ago, Mansell said:

Just saw on the BBC the guy who threw his hard drive out with his Bitcoin Wallet on it some years ago when it was worth 2.3 million pounds. If he could recover it now it would be worth in excess of 230 million pounds.......Oops!

I never throw my gold away.

Also a guy who has 300 mil but cant remember his password. He only has 2 more password tries to get it.