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Bitcoin or Gold  

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Posted

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.

Posted
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. 

Posted
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.

 

  • Like 1
Posted
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.

Posted
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. 

  • Like 1
Posted
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.

 

 

 

  • Like 2
Posted
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.

 

Posted
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. 

Posted
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.

  • Like 1
Posted
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)

  • Like 1
Posted
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.

Posted
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.

  • Like 2
Posted

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.

Posted
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.  

Posted
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.

  • Like 2
Posted

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.

 

 

  • Like 1
Posted
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!

  • Haha 1
Posted
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. 

  • Like 2
Posted
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. 

  • Like 1

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