Bitcoin or Gold?

[Barnabe]

Stupid question, buy both. It's like asking if you want 2 brunettes, 2 blondes or one of each!

 

I understand why gold bugs don't like bitcoin, but I don't understand why bitcoiners don't like gold... makes no sense.

 

Also - don't invest in <deleted>coins. You will lose your shirt unless you take profits as soon as you make them.

[Neeranam]

7 minutes ago, Barnabe said:

Stupid question, buy both. It's like asking if you want 2 brunettes, 2 blondes or one of each!

 

I understand why gold bugs don't like bitcoin, but I don't understand why bitcoiners don't like gold... makes no sense.

 

Also - don't invest in <deleted>coins. You will lose your shirt unless you take profits as soon as you make them.

I don't think it's a stupid question. It's like saying "would you invest in Apple or Sumsung?".

I'm certainly not a bitcoiner maximalist, I was more into XRP until 18 months ago. 

I was going to buy gold a year ago until I did a lot of research and believe BTC is the best investment. 

I assume you mean altcoins -  some have utility and will be around for a long time, like Etherium, Polkadot etc. 

I have around 15 not so well known altcoins that should x10 to x100 and yes, I cash out 50%+ when they x10. 

Edited January 5, 2021 by Neeranam

[Barnabe]

12 minutes ago, Neeranam said:

I don't think it's a stupid question. It's like saying "would you invest in Apple or Sumsung?".

I'm certainly not a bitcoiner maximalist, I was more into XRP until 18 months ago. 

I was going to buy gold a year ago until I did a lot of research and believe BTC is the best investment. 

I assume you mean altcoins -  some have utility and will be around for a long time, like Etherium, Polkadot etc. 

I have around 15 not so well known altcoins that should x10 to x100 and yes, I cash out 50%+ when they x10. 

 

Bundling Ethereum and Polkadot together is like bundling a Ferrari and a push bike. Ethereum will survive and thrive, Polkadot might go bust tomorrow and won't be missed.

 

It's pretty much a given that BTC and ETH will survive. LTC also high chance, since it has been around for long and shares so much with BTC. Monero and Zcash have smaller chances but they have their niche uses, and they have been around for a number of years now. Some BTC-x derivatives like Bitcoin Cash might survive on the crumbs of the BTC market. The rest is pure thrash, and betting on them is no different than gambling.

 

Sure, one of them will become the next big thing, but no-one knows which, and it could be any. The chances of losing everything in sh!tcoins is very high.

 

[Barnabe]

20 minutes ago, Neeranam said:

I don't think it's a stupid question. It's like saying "would you invest in Apple or Sumsung?". 

 

It is a stupid question, because BTC and Gold serve the same purpose. They protect the hodler against the constantly declining value of fiat currencies. It's not like comparing Apple and Samsung, it's more like comparing investing in the stock market and bonds. You do both, because a) diversification is good and b) they both should deliver over inflation gains after a couple of decades.

[Neeranam]

3 minutes ago, Barnabe said:

 

Bundling Ethereum and Polkadot together is like bundling a Ferrari and a push bike. Ethereum will survive and thrive, Polkadot might go bust tomorrow and won't be missed.

 

It's pretty much a given that BTC and ETH will survive. LTC also high chance, since it has been around for long and shares so much with BTC. Monero and Zcash have smaller chances but they have their niche uses, and they have been around for a number of years now. Some BTC-x derivatives like Bitcoin Cash might survive on the crumbs of the BTC market. The rest is pure thrash, and betting on them is no different than gambling.

 

Sure, one of them will become the next big thing, but no-one knows which, and it could be any. The chances of losing everything in sh!tcoins is very high.

 

What crypto do you own?

I certainly wouldn't buy privacy coins like Monero and Zcash, I believe many governments and exchanges will make it very hard to trade them, or even make them illegal.

Litecoin is old and slow, it is only there as it was one of the early ones. 

[Barnabe]

4 minutes ago, Neeranam said:

What crypto do you own?

I certainly wouldn't buy privacy coins like Monero and Zcash, I believe many governments and exchanges will make it very hard to trade them, or even make them illegal.

Litecoin is old and slow, it is only there as it was one of the early ones. 

 

Pretty much what I described - BTC, ETH and LTC.

 

I agree on LTC, it might not go anywhere, but I still think it has a decent chance, it's been on the top 10 of most traded cryptocurrencies for years, and it's old (in a good way) and very similar to BTC. Monero and Zcash have a decent chance of surviving as they fulfill a purpose no other coin does. As long as there is a way to exchange them into BTC or other crypto, they will survive.

 

I tried my hand on a couple of <deleted>coins and lost some money (not much). But I always treated them as pure garbage, with disposable money that I could afford to lose without crying much.

 

Note that my rant or bad experience does not mean that there isn't money to be made in <deleted>coins, but the fact is that they are no better than a casino, and I don't think that point can be argued against.

 

 

 

Edited January 5, 2021 by Barnabe

[Neeranam]

5 minutes ago, Barnabe said:

 

It is a stupid question, because BTC and Gold serve the same purpose. They protect the hodler against the constantly declining value of fiat currencies. It's not like comparing Apple and Samsung, it's more like comparing investing in the stock market and bonds. You do both, because a) diversification is good and b) they both should deliver over inflation gains after a couple of decades.

I would be interested in your opinion on the following vdo if you have time.

 

[ThailandRyan]

3 minutes ago, Neeranam said:

What crypto do you own?

I certainly wouldn't buy privacy coins like Monero and Zcash, I believe many governments and exchanges will make it very hard to trade them, or even make them illegal.

Litecoin is old and slow, it is only there as it was one of the early ones. 

LiteCoin is the Silver to Bitcoin which is Gold.  Look at the Gold prices and then silver and you will see the comparrison I made.  Etherium and BTC are poised for more rises while the other Altcoins may move up and down like XRP has done.  Stablecoins such as USDT and a few others are worth an investment. 

[Barnabe]

Just now, ThailandRyan said:

Stablecoins such as USDT and a few others are worth an investment. 

 

Why do you think stablecoins are worth an investment? By definition they should match the dollar value.

 

And on stablecoins, USDT should be avoided at all costs. It's price fluctuates widely because they're not a true stablecoin - their own lawyers admitted they only have enough cash to cover 75% of issued reserves.

 

USDC, GUSD and PAX are much better stablecoin choices for the long term, as they are guaranteed to always be exchangeable for USD and audited on a monthly basis. Of course the downside is less liquidity on the 3 mentioned vs USDT, but over time that won't be a problem and it goes back to the fact that you can always trade them for the dollar equivalent and there is no price fluctuation.

[ThailandRyan]

4 minutes ago, Barnabe said:

 

Why do you think stablecoins are worth an investment? By definition they should match the dollar value.

 

And on stablecoins, USDT should be avoided at all costs. It's price fluctuates widely because they're not a true stablecoin - their own lawyers admitted they only have enough cash to cover 75% of issued reserves.

 

USDC, GUSD and PAX are much better stablecoin choices for the long term, as they are guaranteed to always be exchangeable for USD and audited on a monthly basis. Of course the downside is less liquidity on the 3 mentioned vs USDT, but over time that won't be a problem and it goes back to the fact that you can always trade them for the dollar equivalent and there is no price fluctuation.

Top US banking regulator, the Office of the Comptroller of the Currency, has approved the use of stablecoins for the settlement of financial transactions by banks.  The OCC guidance clears the way for banks to participate in independent node verification networks (INVN) and use stablecoins to conduct payment activities and other bank-permissible functions.

 

This is the reason I mentioned it.

 

OCC approves the use of stablecoins for banking transactions (finextra.com)

[Neeranam]

11 minutes ago, ThailandRyan said:

Stablecoins such as USDT and a few others are worth an investment.

How so? Is it because you can stake them for a decent annual interest?

They are stable, so I'm not sure why I would invest in them.

[Barnabe]

1 minute ago, Neeranam said:

How so? Is it because you can stake them for a decent annual interest?

They are stable, so I'm not sure why I would invest in them.

 

Exactly, it's only worth it if you intend to stake them - but of course that involves additional risk. Otherwise they will only match the dollar value and yield nothing vs having them as normal fiat.

[Lacessit]

Rule # 1 of investing is don't invest in something you don't understand. I understand gold as a store of value, most people do. And while there are many speculators in bitcoin, permit me to doubt many of them understand it.

[gilo]

How can one buy Bitcoin in Thailand?

[ThailandRyan]

12 minutes ago, Neeranam said:

How so? Is it because you can stake them for a decent annual interest?

They are stable, so I'm not sure why I would invest in them.

So on Coinbase which is one of a few I use, USD Coin is paying a measly .15%, Algorand a 6% APY, Cosmos a 5% APY, Dai a 2% APY, and Tezos a 4.63%APY. Tether which is USDT has been stable at $1.00 since 2015.  It started at $1.22 and has dropped as low as $.94 but not lower.  The returns are added as additional stable coin value, and yes they are staked.  Similar to fiat, but very easy to convert to other coins should you wish if you seethe drop and rise coming.  

Edited January 5, 2021 by ThailandRyan

[John435]

Ripple (XRP) is so low right now, due to some bad press, it’s got to be worth a punt. 

[ICELANDMAN]

Neither are both manipulated into losing hard-earned savings.

[MeePeeMai]

Digital gold for me.

 

I went 100% all in 3.5 years ago (but there's nothing wrong with owning both and it is actually a safer bet to own both).

 

I plan on buying some gold at some point in the future, it's just the storage issues, fees, markup over the spot price, fake bars and coins and the possibilty of theft etc. that I dont like about it.

 

It is nice to look at though ????

[Neeranam]

47 minutes ago, ThailandRyan said:

So on Coinbase which is one of a few I use, USD Coin is paying a measly .15%, Algorand a 6% APY, Cosmos a 5% APY, Dai a 2% APY, and Tezos a 4.63%APY. Tether which is USDT has been stable at $1.00 since 2015.  It started at $1.22 and has dropped as low as $.94 but not lower.  The returns are added as additional stable coin value, and yes they are staked.  Similar to fiat, but very easy to convert to other coins should you wish if you seethe drop and rise coming.  

I used to get 5% for Tezos but I sold it.

I now get 12% for staking DOT on Kraken. I can withdraw immediately

I get 20% on some other assets but have locked in for 6 months.

How much interest can one get on gold? 

I find cryptos to be a great way to make passive income.

[guzzi850m2]

Just for fun, I bought for 1500$ bitcoin beginning 2020, end of the year I made 128% profit and sold out (bad idea, ha-ha).

 

For that money I bought eToro's Crypto portfolio and I made around 500$ so far.

 

I bought 89 coins of EOS for the spare change, around 250$ worth after I read below article:

 

https://www.investopedia.com/tech/eos-new-btc-pay-attention-peter-thiel/?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral

 

I don't really know how all those different cryptos works so I will never play with more that I can walk away from and say; okay never mind.

 

But so far my 1500$ have turned into app 4200$ not bad.

 

My much lager stock portfolio gave around 30%.

 

 

[Caldera]

At this particular time, between those two assets, I'd buy gold. Once bitcoin has crashed (again), I'd sell the gold and buy bitcoin (again).

 

I don't see any benefit in holding bitcoin throughout the next inevitable crash, although I have little doubt that it will recover (again) and soar (again) later. You get the picture.

 

 

[ukrules]

8 minutes ago, Caldera said:

At this particular time, between those two assets, I'd buy gold. Once bitcoin has crashed (again), I'd sell the gold and buy bitcoin (again).

 

I don't see any benefit in holding bitcoin throughout the next inevitable crash, although I have little doubt that it will recover (again) and soar (again) later. You get the picture.

 

If it crashes from $60k to $40k in the 'inevitable crash' will you be waiting to buy?

 

Edited January 5, 2021 by ukrules

[Caldera]

1 minute ago, ukrules said:

If it crashes from $60k to $40k in the 'inevitable crash' will you be waiting to buy?

 

Let's just say I won't be in a hurry!

[Neeranam]

1 hour ago, Caldera said:

At this particular time, between those two assets, I'd buy gold. Once bitcoin has crashed (again), I'd sell the gold and buy bitcoin (again).

 

I don't see any benefit in holding bitcoin throughout the next inevitable crash, although I have little doubt that it will recover (again) and soar (again) later. You get the picture.

 

 

This time could be different, Why would the institutional money sell when they could borrow against their BTC?

 

I've been following analysts that predict 200k to 1 mill by the end of 2021. 

[Brickbat]

Most people don’t understand Bitcoin/ Ethereum and the various Coins and what they are capable of.

But then, in 1995, the internet was ridiculed.

Was not the train ridiculed for horses?

Or the simple act of washing hands by medicos ridiculed causing more deaths for about 10 more years before being accepted as compulsory.

The inventor of the aeroplane died a laughing stock .

Bitcoin will rule. It’s infallible and once Adoption is underway, it will displace fiat

[wombat]

When Thai gold shops accept bitcoin as tender i will still buy gold in preference, when i win Euro Millions.

[Neeranam]

Interesting looking at the poll. I'm sure that age must have something to do with so many choosing gold, already retired and not wanting to to take risk, or not understanding digital assets, being a luddite. There was a poll for millenials about how they would invest their inheritance. https://asiatimes.com/2020/02/millennials-will-invest-inheritances-in-bitcoin/

A year ago, I asked a former Minister of Finance, Korn Chatikavanij, if he thought digital assets would take over, to which he replied "absolutely, in the near future". 

[Bender Rodriguez]

23 hours ago, Neeranam said:

What would you buy right now -  BTC or gold?

I think that BTC is going to take the gold market, but I could be wrong. 

BTC just passed 1,000,000 baht! I started buying it when it was 88,000 baht and survived and Hodled a long 3 -year bear market.  I remember being ridiculed here by some  gold maximalists ????

 

 

good you made a great investment of your life

 

how can a unreal currency backed by NOTHING go over gold ?

 

speculation ....

 

tech bubble, 2008 scam, ... bitcoin soon

[Bender Rodriguez]

13 hours ago, guzzi850m2 said:

My much lager stock portfolio gave around 30%.

so what you invest in, I guess you will never share that with TV

[Neeranam]

13 hours ago, guzzi850m2 said:

Just for fun, I bought for 1500$ bitcoin beginning 2020, end of the year I made 128% profit and sold out (bad idea, ha-ha).

 

For that money I bought eToro's Crypto portfolio and I made around 500$ so far.

Taking profits of 128% can never be bad. Btc has gained approximately 200% every year for the last 10 years. 

I recently started using etoro, I don't like it and crypto assets can't be taken out/sent to another exchange, only exchanged for fiat. I believe Paypal is an easy way to buy certain cryptos but again they can't be sent anywhere, yet. 

Edited January 6, 2021 by Neeranam