Originally Posted by MaxQ
(Post 3487601)
Thanks for the point-by-point answers Rick.
They are in line with what I thought. As an outsider looking on, it seems a rather unstable place to park personal wealth. (unless, as you say, the point is to hide ones wealth) It strikes me as having some similarities to a chain letter, where at some point someone is left holding the proverbial bag. Also, as it creates money from nothing, it has to be extractive/parasitic. If that is indeed the case, it is ultimately harmful to a country and its economy. But yeah if crypto went mainstream, at elevated values, then yes that real value has to come from somewhere. But right now you acquire it in one of three ways... 1. Buy it with real currency 2. Provide goods or services and get paid in crypto 3. Mine it So it does have some real value, at the very least the cost to mine it which is well over $10k assuming you have the most efficient hardware and can access cheap electricity. And again, it does have an additional value premium in opacity to some people... if nothing else tax evaders are saving 30% by using crypto. As an aside the dollar is up... to the point that I know people buying vacay/retirement homes in Europe right now. Apparently the reports of it's demise are once again premature. Guess the global finance system isn't flocking to rubles or yuan just yet :rolleyes: |
I see crypto similar to precocious metals. Not really a true "investment" but more like a commodity where you don't keep more than 5% of them as your total portfolio.
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Originally Posted by rickair7777
(Post 3487709)
Paper gains are nothing. Eventually the bubble pops, and the losers are just the gamblers who made the wrong bet at the wrong time.
But yeah if crypto went mainstream, at elevated values, then yes that real value has to come from somewhere. But right now you acquire it in one of three ways... 1. Buy it with real currency 2. Provide goods or services and get paid in crypto 3. Mine it So it does have some real value, at the very least the cost to mine it which is well over $10k assuming you have the most efficient hardware and can access cheap electricity. And again, it does have an additional value premium in opacity to some people... if nothing else tax evaders are saving 30% by using crypto. As an aside the dollar is up... to the point that I know people buying vacay/retirement homes in Europe right now. Apparently the reports of it's demise are once again premature. Guess the global finance system isn't flocking to rubles or yuan just yet :rolleyes: Example: The Polish Zloty took a hit when Russia greatly expanded its invasion of Ukraine. Threat of war, even if widely considered to be a small threat, had an immediate influence. |
Originally Posted by SonicFlyer
(Post 3487712)
I see crypto similar to precocious metals. Not really a true "investment" but more like a commodity where you don't keep more than 5% of them as your total portfolio.
Gold physically exists. Its value may fluctuate, but you own a chunk of it. I question it being a true commodity, as I am still not convinced that it has any basis in physical reality. |
Originally Posted by MaxQ
(Post 3488010)
Sonic,
Gold physically exists. Its value may fluctuate, but you own a chunk of it. I question it being a true commodity, as I am still not convinced that it has any basis in physical reality. 1. People like it. The way it feels and looks. This has been the case for literally millennia, all of recorded history, and that probably isn't changing any time soon. 2. In the modern era it also has some legit industrial value as well, along with other precious metals. Bonus: It's concentrated in a small, portable form factor (mattered more before mechanized transport was a thing). Although you can fit a lot more bitcoin than gold on a USB stick. In the event of Global Apocalypse, gold would still have value. Maybe not as much value as an equivalent weight 7.62 NATO. |
Originally Posted by rickair7777
(Post 3488083)
Gold has value...
1. People like it. The way it feels and looks. This has been the case for literally millennia, all of recorded history, and that probably isn't changing any time soon. 2. In the modern era it also has some legit industrial value as well, along with other precious metals. Bonus: It's concentrated in a small, portable form factor (mattered more before mechanized transport was a thing). Although you can fit a lot more bitcoin than gold on a USB stick. In the event of Global Apocalypse, gold would still have value. Maybe not as much value as an equivalent weight 7.62 NATO. Sorry for not making the distinction clear. And agree. Regardless of the reasons, gold has been valued for millennia, and probably always will be as long as we have vestiges of civilizations. |
Crypto is now available from ATM's at gas stations and liquor stores in your nearest low-income neighborhood. Yeah, somebodies getting screwed...
https://www.newsnationnow.com/busine...n-los-angeles/ |
Originally Posted by Bluesteal
(Post 3389324)
Exactly Chihuahua... we're so brainwashed by the TV that people dont even realize these sanctions are absolutely killing the west and mostly the US. The whole world will go away from the dollar and as the Saudi's have their meeting with China today, Saudi's and other OPEC nations may now price their oil in Yuan. Crushing the US and impoverishing the people
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Originally Posted by Duffman
(Post 3493028)
How'd this all turn out?
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Originally Posted by rickair7777
(Post 3488083)
In the event of Global Apocalypse, gold would still have value. Maybe not as much value as an equivalent weight 7.62 NATO. https://i.ibb.co/68zg4WH/275-B0-EC6-...C01-E0-FEF.jpg Guns, ammo, and freeze dried foods maybe the new best investment. :rolleyes: |
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