Physical assets like gold, silver, real estate can be confiscated, Paper assets like currency, govt. bonds, paper gold etc. can be devalued or dissolved But #Bitcoin can neither be confiscated nor devalued It's time to follow Plan ₿ and sticking to it
I missed the boat early with bitcoin as my nephew was a meth head and the dude was telling me, "Uncle JackieChilds, ya gotta buy bitcoin. blah blah blah." I don't usually take investing advice from crackheads so I ignored him.. lol. The price was under $10... I hate myself for this miss. The kid used to be super smart so... Anyway, I have followed bitcoin and gold closely starting from 2001 (gold obviously). see if you follow this. God didn't give me good communication skills so I apologize in advance. My gold finance guy is brilliant... He's got a PHD and has been amazing predicting gold pricing. Friday he told me gold and silver price would continue to fall..... at some point this year he said the price will skyrocket to new all-time highs.. He explained why... Will he be right? who knows.. As predicted, the price of Silvegold dropped. Silver all the way to $12.50 an ounce... I called Dr. Gold and he said, "Call your dealers, i bet you can't buy any at these prices, its happening." $21.57 per ounce is the best price they offer of the 3 big outfits (APMEX is one). The smaller guys won't sell any or they don't have any at these prices. In short, the spread between the silver price is about $8-$9.... crazy.. who would buy it at those prices? I start thinking, how do I start building a position in gold/silver besides paying that high premium. I thought, "I'm just going to load up on my favorite gold stocks and wait." For 20 years, when the price of gold falls, the stocks get crushed... Today, first time I can remember, gold gets crushed, but the stocks are 10% higher. I feel a monetary reset coming in the next year or two. Worldwide... Governments, including US, cannot afford to service their debt anymore so their only option is 0% rates, no where to run anymore.... Love Bitcoin... It's a better concept but again, it was invented out of thin air.. Everytime BitCoin dips under $5K, I pick up more and sit on it. I feel like I should have 2% of my portfolio or so in Bitcoin. I can make good arguments for both... I can also trash both but one thing I know for sure, I like both more than our dollar. Good luck
As a physical silver investor i would like to open a serious dialog to discuss why/why not i should diversify into crypto's like bitcoin as opposed to just continuing on my current investment path.
For additional context, i have been for a long time follower of both the crypto space and the physical gold & silver space (99% silver). The issue i keep having with pushing more into the crypto space is a point of leverage opportunity. Now that crypto's have taken off so well i keep running up against 'downside risk' versus 'upside risk'. On the silver side; since the price to so actively manipulated the physical spot price is sitting very close to the price of production making the downside risk very low. As a non replaceable metal its industrial uses are only getting stronger and the availability of the metal is getting more scarce and unlike gold is constantly being consumed. Upside is anyone's guess but it's currently the cheapest its ever been in recorded history. On the bitcoin side; it's hard to argue with the success and continued price explosion of the technology but whilst blockchain technology may be the way forward, the jury is still out on whether or not bitcoin will be the place to be in 10 years. Upside could very well be the moon, downside could very well be zero for a variety of factors. Whilst i have only just glossed over each argument, the situation i am faced with is BTC is currently sitting at $4900AUD while silver is sitting at $21.63AUD. And the issue i keep running up against is that i can currently buy 226oz of physical silver for the price of one bitcoin and that's keeps me looking at silver and not bitcoin. Any chance of keeping comments like 'do your research' or 'you clearly don't understand' to a minimum as this response seems to replace actual discussion on majority of non bitcoin to the moon type threads.
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