Bitcoin or Gold?

[Tagged]

34 minutes ago, Heng said:

Yes, the blockchain network consumes energy.   The return in terms of financial freedom for the entire planet compared to say... mass tourism and spraying jet fuel through the atmosphere so we can jaunt around the planet to take selfies and populate our Instagram pages, I'd say the 'cost' is worth it.    One wouldn't say 'we must end aviation and tourism.'

It doesnt make it right because of every other wrongoings being done before and which we now are addicted to, to keep the economic running as it used to do. 

 

Bitcoin represent everything that is wrong with this world greed  and steeling resourches as it was a new goldrush coming. 

 

60 pages if interested 

https://www.bankofcanada.ca/wp-content/uploads/2019/09/swp2019-40.pdf

 

[Heng]

20 minutes ago, Tagged said:

It doesnt make it right because of every other wrongoings being done before and which we now are addicted to, to keep the economic running as it used to do. 

 

Bitcoin represent everything that is wrong with this world greed  and steeling resourches as it was a new goldrush coming. 

 

60 pages if interested 

https://www.bankofcanada.ca/wp-content/uploads/2019/09/swp2019-40.pdf

 

 

It doesn't make it right.  It simply makes it well worth the cost in terms of progress.  There are other iterations of the same tech which consume less energy which likely will be where this is all headed.    

[Tagged]

2 minutes ago, Heng said:

 

It doesn't make it right.  It simply makes it well worth the cost in terms of progress.  There are other iterations of the same tech which consume less energy which likely will be where this is all headed.    

Siriously, stocks or bitcoin, who deserve to be billioneairs in speculative trading because they dear to put their fortune in to something that either going to be a hoax, a treath to the economic world wide and something that is not backed up by anything else than speculations? 

 

Especially when a man like elon jump on the train, Im dissapointed. 

 

It is a game, a greedy one, and somebody will get hurt one or the other way. Some will say it is the nature of it, right? 

[scammed]

On 1/5/2021 at 1:03 PM, Neeranam said:

Bitcoin is going to be the world reserve currency, I don't think anyone who knows their stuff would disagree with this. 

no, as someone wrote: Gold still out there in the ground to be found, BTC only 21m to be made ever.

 

for this reason alone, this pitiful currency cant be made the world currency. the US dollar became the world currency because it was the only currency large enough,

only alternatives are euro or chinese yuan.

my expectation is euro/dollar/yuan/gold will collectively assume reserve currency

Edited February 9, 2021 by scammed

[Barnabe]

On 2/4/2021 at 7:57 PM, swissie said:

With enough Gold coins in my pocket, I will be the local warlord.

Hmm no, the first thug will crack your nose and take your coins if you’re lucky, if you’re unlucky you’ll get killed on the spot.

 

Read about this guy’s experience in Bosnia and you’ll see that the most important thing to stockpile is guns, ammo, food and medical products. Besides that it’s important to have a skill to barter.

Gold and silver were completely useless and your reliance on them will get you killed when <deleted> hits the fan.

 

https://lulz.com/surviving-a-year-of-shtf-in-90s-bosnia-war-selco-forum-thread-6265/

[fdsa]

2 hours ago, scammed said:

Gold still out there in the ground to be found,

also America and China will bring tons of gold from Mars in the next 3-5 years.

[Neeranam]

3 hours ago, Tagged said:

Siriously, stocks or bitcoin, who deserve to be billioneairs in speculative trading because they dear to put their fortune in to something that either going to be a hoax, a treath to the economic world wide and something that is not backed up by anything else than speculations? 

 

Especially when a man like elon jump on the train, Im dissapointed. 

 

It is a game, a greedy one, and somebody will get hurt one or the other way. Some will say it is the nature of it, right? 

I wonder who didn't buy any Bitcoin ????

 

Just wait for the digital age, smart contract, no need for banks, in fact it is because of the bankers' greed that bitcoin was invented

[Tagged]

4 minutes ago, Neeranam said:

I wonder who didn't buy any Bitcoin ????

 

Just wait for the digital age, smart contract, no need for banks, in fact it is because of the bankers' greed that bitcoin was invented

The time will tell, so Im not worried about loosing out, and already secured my future as good as I can without jumping on a rollercoaster where we still have to wait to see or  reach some stage of credibility and validity.

 

 

Still a lottery if you ask me. I guess we had the same arguments about btc when it reached 20k last and dropped below 5k again

 

[Neeranam]

It's not rocket science but many still don't understand. 

 

 

[Neeranam]

9 minutes ago, Tagged said:

The time will tell, so Im not worried about loosing out, and already secured my future as good as I can without jumping on a rollercoaster where we still have to wait to see or  reach some stage of credibility and validity.

 

 

Still a lottery if you ask me. I guess we had the same arguments about btc when it reached 20k last and dropped below 5k again

 

I think this guy explains the risks well here - 

 

 

[ukrules]

4 hours ago, Tagged said:

How more stupid can it become? 

Sit back, relax and watch from the sidelines.....this is just getting started....

 

4 hours ago, 1FinickyOne said:

Thanks, but... I have Schwab and an investment account w/my bank.. never used paypal, don't know what etoro is... reticent to go beyond my known platforms... 

Yes there is, it's called 'Grayscale Bitcoin Trust', it's listed on OTCQX (GBTC), this is what you're looking for.

 

Edited February 9, 2021 by ukrules

[taninthai]

5 hours ago, Neeranam said:

I can't believe it but when I heard this news, I immediately bought some BTC at $42k. I started buying it at $2k!

This TOTALLY changes the game, BTC is going to $54k this week and possibly over $60k. I expect 200-300k by the end of the year. 

 

Musk hasn’t just bought these Bitcoin this week it was last year

[Tagged]

6 minutes ago, ukrules said:

Sit back, relax and watch from the sidelines.....this is just getting started....

 

Yes there is, it's called 'Grayscale Bitcoin Trust', it's listed on OTCQX (GBTC), this is what you're looking for.

 

Who founded bitcoin, and why? Just think about it for a second. 

 

And you have to find the coins by mining? 

 

Should I go on for reasons why to sit back and watch this? 

 

 

[ukrules]

4 minutes ago, taninthai said:

Musk hasn’t just bought these Bitcoin this week it was last year

 

Perhaps, but if you read the SEC filing it states that they amended their 'rules' in January 2021 and at that time purchased $1.5 Billion in Bitcoin.

 

It didn't say who they purchased them from, for all we know Elon could have a personal holding worth $10 Billion and just sold some of it to the company in an OTC deal, we will likely never find out either.

[taninthai]

1 minute ago, ukrules said:

 

Perhaps, but if you read the SEC filing it states that they amended their 'rules' in January 2021 and at that time purchased $1.5 Billion in Bitcoin.

 

It didn't say who they purchased them from, for all we know Elon could have a personal holding worth $10 Billion and just sold some of it to the company in an OTC deal, we will likely never find out either.

He could have bought last year and just mentioning that he bought them now to hype up the price ready for him to sell off at good profit

[ukrules]

4 minutes ago, Tagged said:

Who founded bitcoin, and why? Just think about it for a second. 

 

And you have to find the coins by mining? 

 

Should I go on for reasons why to sit back and watch this?

 

Yes, please do elaborate. Assume that I already know everything about Bitcoin because that's about right so there's no need to dumb it down for me, you can get very technical in your arguments.

 

Edited February 9, 2021 by ukrules

[Golden Triangle]

I just wish I had invested a spare £500 in ETH about 5 years just for a bit of fun, unfortunately the tech aspect confused the heck outta me, a mate sat down and tried to explain it to me, I think my head still hurts today ????????????

[scammed]

2 hours ago, fdsa said:

also America and China will bring tons of gold from Mars in the next 3-5 years.

maybe not that fast, but for sure the private owned companies that started space missions will eventually mine asteroids

for minerals, it was asteroids that gave us easily accessible

gold in the first instance, earlier gold would have sunk to the core of the earth when it was formed

[Neeranam]

44 minutes ago, ukrules said:

 

Perhaps, but if you read the SEC filing it states that they amended their 'rules' in January 2021 and at that time purchased $1.5 Billion in Bitcoin.

 

It didn't say who they purchased them from, for all we know Elon could have a personal holding worth $10 Billion and just sold some of it to the company in an OTC deal, we will likely never find out either.

Some say he is Satoshi Nakamoto.

[Neeranam]

45 minutes ago, taninthai said:

He could have bought last year and just mentioning that he bought them now to hype up the price ready for him to sell off at good profit

Nah, that's the type of BS that the traditional bankers do.https://news.bitcoin.com/after-the-boss-calls-bitcoin-a-fraud-jp-morgan-buys-the-dip/

[taninthai]

14 minutes ago, Neeranam said:

Some say he is Satoshi Nakamoto.

Can’t say I’ve heard that before but That’s probably possible????

[Golden Triangle]

February 8 2017 ETH were $15.86, today $1584.68, don't know how that equates to £ but it looks like I could've made a couple of bob ???? oh well never mind.

[Heng]

Seriously though, there will be a better crypto eventually.   Just a handful of corporate players and look how sluggish the network is, look at all of those 2-5 hour transaction holds.   Will still enjoy the ride of course.  ????

[Poet]

16 hours ago, 1FinickyOne said:

Careful about that language... you are going to be censored here... 

Almost everything I post here gets censored. That is why I am now more active on the better expat forums.

 

[Poet]

A lot of the hate for Bitcoin is fueled by self-recrimination: most of the loudest critics knew about Bitcoin years ago, probably thought it was a neat idea, possibly even thought about investing but didn't because the price was already $50 or whatever and they felt they had missed the boat.

My advice to anyone is very simple. Take a small amount of money, maybe $1000, that you would otherwise save or invest, and buy some Bitcoin and/or Ether. Ignore all the other coins. Then ignore your investment for a year. Don't get swept up by the rapid highs and lows, don't even think about it.

That way, you will be able to enjoy a nice suprise at the end of the year, and will no longer be so torn up about friends who made millions. You will also have a better understanding of how it all works and be able to make more informed decisions about how to deploy your savings.

Countless friends, family members, employees, and acquaintances have taken this advice and it has worked out well for all of them. Some have chosen to go deeper, but I always counsel them to be conservative and never place more than 20% of their savings into crypto.

After just over a year, my girlfriend now has 28 Bitcoins and a hundred or so Ether, none of which were given to her by me. Her business was already doing well, but she had many worries as the pandemic took hold. Her business actually boomed as more people shopped online and, by taking profits that would otherwise have been funneled into property or other "safe" assets in Thailand, she has been able to build up a decent crypto nest egg that will be fine no matter what happens in Thailand, and whose value will increase faster, and with far less hassle, than any other assets.

That crypto nest egg gives her a feeling of confidence, security, and independence. In a grim year, her plans for the future have become more ambitious. If, as expected, Bitcoin breaks 200k this year, she will be in a position to do almost anything she wants for the rest of her life.

That is a wonderful thing and everyone, even those uninterested in crypto, should be happy that so many people have improved their options in life.

 

Edited February 9, 2021 by Poet

[Gumballl]

4 hours ago, Poet said:

A lot of the hate for Bitcoin is fueled by self-recrimination: most of the loudest critics knew about Bitcoin years ago, probably thought it was a neat idea, possibly even thought about investing but didn't because the price was already $50 or whatever and they felt they had missed the boat.

My advice to anyone is very simple. Take a small amount of money, maybe $1000, that you would otherwise save or invest, and buy some Bitcoin and/or Ether. Ignore all the other coins. Then ignore your investment for a year. Don't get swept up by the rapid highs and lows, don't even think about it.

That way, you will be able to enjoy a nice suprise at the end of the year, and will no longer be so torn up about friends who made millions. You will also have a better understanding of how it all works and be able to make more informed decisions about how to deploy your savings.

Countless friends, family members, employees, and acquaintances have taken this advice and it has worked out well for all of them. Some have chosen to go deeper, but I always counsel them to be conservative and never place more than 20% of their savings into crypto.

After just over a year, my girlfriend now has 28 Bitcoins and a hundred or so Ether, none of which were given to her by me. Her business was already doing well, but she had many worries as the pandemic took hold. Her business actually boomed as more people shopped online and, by taking profits that would otherwise have been funneled into property or other "safe" assets in Thailand, she has been able to build up a decent crypto nest egg that will be fine no matter what happens in Thailand, and whose value will increase faster, and with far less hassle, than any other assets.

That crypto nest egg gives her a feeling of confidence, security, and independence. In a grim year, her plans for the future have become more ambitious. If, as expected, Bitcoin breaks 200k this year, she will be in a position to do almost anything she wants for the rest of her life.

That is a wonderful thing and everyone, even those uninterested in crypto, should be happy that so many people have improved their options in life.

 

Just to make things clear, crypto currency is oftentimes (not always) worth zilch, unless converted into real money.

 

Until crypto currency is accepted across the board as a tool to conduct day-2-day transactions, it is no more than a "virtual" commodity. Try using it to buy a 50 Baht meal at a street vendor.

 

Your positive words may encourage fools to invest, but I am still not sold on its future. Tomorrow, maybe I will be selling the next hottest thing... LintCoin.

[Tagged]

4 hours ago, Poet said:

A lot of the hate for Bitcoin is fueled by self-recrimination: most of the loudest critics knew about Bitcoin years ago, probably thought it was a neat idea, possibly even thought about investing but didn't because the price was already $50 or whatever and they felt they had missed the boat.


 

Dont you see any ethical reasons for not buying bitcoins? Could you accept some do see there is some problem connected to the bitcoins, and there is no quarintine this is just a ponzi shcemes as some experts claims it to be. 

 

Time will show where this ends, and do not feel bad for us who did not jump on the train, we will be ok ???? 

[donnacha]

1 hour ago, Tagged said:

Dont you see any ethical reasons for not buying bitcoins?

This is the first time I've heard anyone suggest there is any sort of ethical problem with buying Bitcoin.

 

1 hour ago, Tagged said:

there is no quarintine this is just a ponzi shcemes as some experts claims it to be. 

A ponzi scheme depends on hiding the underlying mechanics. Bitcoin is the opposite, all the math is completely out in the open, nothing is hidden. That is its core value.
 

 

1 hour ago, Gumballl said:

Just to make things clear, crypto currency is oftentimes (not always) worth zilch, unless converted into real money.

That is not making anything clear. It is simply wrong. Over the past 12 years, there have ALWAYS been people willing to buy Bitcoin, night or day. Real people and companies paying real money. 

There have also always been people willing to buy "real" money but the value they are willing to pay, in terms of real goods and services, has consistently reduced over time.

By design, your entire life, "real" money has reduced in value. You have no idea how many more dollars will be printed and how much value the dollar will lose during 2021.

In contrast, we know exactly how many Bitcoins will ever exist. Over the past 12 years, the number of people eager to buy Bitcoin has steadily increased, making each individual Bitcoin more valuable.

In 2009, a Mars Bar weighed 62.5g and cost £0.37 or 740 Bitcoins.

In 2021, a Mars Bar weighs 51g and costs £0.65 or 0.00001796485 Bitcoin (one Bitcoin will buy you 52,308 Mars Bars).

People who do not understand Bitcoin or, indeed, Mathematics, have always felt the need to predict its imminent collapse, but there is no real reason to believe that people won't continue to find it useful enough to buy it. I can see clearly both the need and that no other solution meets that need as effectively as Bitcoin.
 

1 hour ago, Tagged said:

Time will show where this ends, and do not feel bad for us who did not jump on the train, we will be ok ???? 

Everyone with assets will do well this year. The increased money supply will inflate the value of everything. So, yes, we will all be ok. I only feel badly for the guys on fixed pensions or set wages. They are going to get creamed.

That the people into crypto will do best is actually a fortunate result because, being younger and generally more intelligent / technologically aware, they will be better able to deploy, in effective ways, the money they gain. The boomer generation benefitted from the explosion of property prices in the 80's, 90's, and onwards. For the Internet generation, crypto is their version of that - a general shift that everyone is aware of and have plenty of time to benefit from if they want to. I respect that some people prefer to stick with the simplicity of what they already understand.

 

Edited February 10, 2021 by donnacha

[taninthai]

6 hours ago, Poet said:

A lot of the hate for Bitcoin is fueled by self-recrimination: most of the loudest critics knew about Bitcoin years ago, probably thought it was a neat idea, possibly even thought about investing but didn't because the price was already $50 or whatever and they felt they had missed the boat.

My advice to anyone is very simple. Take a small amount of money, maybe $1000, that you would otherwise save or invest, and buy some Bitcoin and/or Ether. Ignore all the other coins. Then ignore your investment for a year. Don't get swept up by the rapid highs and lows, don't even think about it.

That way, you will be able to enjoy a nice suprise at the end of the year, and will no longer be so torn up about friends who made millions. You will also have a better understanding of how it all works and be able to make more informed decisions about how to deploy your savings.

Countless friends, family members, employees, and acquaintances have taken this advice and it has worked out well for all of them. Some have chosen to go deeper, but I always counsel them to be conservative and never place more than 20% of their savings into crypto.

After just over a year, my girlfriend now has 28 Bitcoins and a hundred or so Ether, none of which were given to her by me. Her business was already doing well, but she had many worries as the pandemic took hold. Her business actually boomed as more people shopped online and, by taking profits that would otherwise have been funneled into property or other "safe" assets in Thailand, she has been able to build up a decent crypto nest egg that will be fine no matter what happens in Thailand, and whose value will increase faster, and with far less hassle, than any other assets.

That crypto nest egg gives her a feeling of confidence, security, and independence. In a grim year, her plans for the future have become more ambitious. If, as expected, Bitcoin breaks 200k this year, she will be in a position to do almost anything she wants for the rest of her life.

That is a wonderful thing and everyone, even those uninterested in crypto, should be happy that so many people have improved their options in life.

 

Your girlfriend is sitting on 1million gbp of bitcoins ,I would say she is sorted already time to sell.

[donnacha]

17 minutes ago, taninthai said:

Your girlfriend is sitting on 1million gbp of bitcoins ,I would say she is sorted already time to sell.

1m GBP barely buys you a decent house these days. Realistically, you would need around $5m to fund to a reasonably interesting and comfortable life, with plenty of international travel. Remember, that "real" money is not going to buy what it bought before. Massive devaluation.

This highly unusual year is the opportunity of a lifetime for crypto. The uncertainty generated by the economic effects of the pandemic and mass money printing will drive unprecedented gains. Selling now, at the start of the year, would be crazy. It is pretty clear that we are going to see $200k by the end of the year. Beyond this year, I have no idea, probably another few years of relatively modest gains. 2021 is the unicorn year because, yes, locking down the world and printing your way out of it has consequences.

 

Edited February 10, 2021 by donnacha