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goldbug9999

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  1. Gold does indeed work as both a SoV and a bet on $ collapse is a play and everyone should have some on that basis. However I don't see the latter as being especially likely in the short or medium term. GS doing their bit to ensure that traditional investors are as late to party as possible giving the rest of us a bigger window to buy more. Cheers GS.
  2. Large holders of bitcoin can manipulate the price in the short term, yes, but thats only a problem for those people who actively trade it. As the market cap and global liquidity rise it will get harder to do this. Bitcoin is also immune to many forms of rigging that most other markets suffer from, for example noone has special access to discounted bitcoin - you cant fake the hashpower need to mine one. Also you cant pretend that you have bitcoin that you don't really have.
  3. Its also completely pointless, if you want exposure to gold price then just park money in the ishares ETC, until you need the cash no idea why anyone would consider a gold backed credit card useful.
  4. This is oldest and dumbest argument on this thread. Once you achieve technological "escape velocity" its the network effect that counts from then on. Bitcoin is unassailable on that front.
  5. Pull your head out of Schiffs **** and try thinking for yourself, just for a moment. Industrial and jewelry use is a relatively small and constant demand so please do explain how that accounts for the price going up a £1k an ounce in the last 15 years or so.
  6. The volatility is a function of its relatively low market cap, just like silver is more volatile than gold for the same reason. You need to try to think of bitcoin as a very low cap precious metal, then it will all make sense. The investment thesis is that bicoins various advantages over physical metals will eventually lead to it having a much higher cap.
  7. All you and the other clueless dweebs on here need to do is substitute gold for bitcoin in these rants and you will see where you are going wrong.
  8. Being in the EU would have been catastrophic for us financially as we would have to bail out all the rubbish countries. EU is dead as a concept with 2-3 years I predict, the euro will die before that. Covid has ended it.
  9. Its a gamble I see as asymmetric though: Chances of gong to 0 - 5% Chance of 10x (or better) - 95%
  10. You keep your allocation in the best prospects based on what you think is going to happen, not what has already happened. I still think bitcoin can 10-20x so why would I cash it in to put it in something else ?. To be fair though its easier to gamble recklessly (which investing in bitcoin is) with money I've already been essentially gifted.
  11. If you are so convinced its that easy then how come your not a billionaire from playing this (or other markets) ?. Everyone is a brilliant trader with hindsight.
  12. Music to my ears. Well some of us have this thing called "savings".
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