Bitcoin or Gold???

[Captain Save]

Bitcoin is useless therefore it is not a good hedge against inflation. Is that more clear?

So you're saying that the remittance uses and people using it in those countries hit with hyperinflation.. is a lie?

[corn18]

Bitcoin is useless therefore it is not a good hedge against inflation. Is that more clear?

[Captain Save]

Blockchain might be useful. Bitcoin is not and will not.

Interesting statement but that has nothing to do with what we're talking about. Besides, bitcoin is being used right now to send money directly to bypass banks and govts in some of these countries I mentioned.. .Now will other cryptos be seen as more useful for that purpose ..quite possibly.. but again I don't think this is what we were talking about.

[corn18]

The average American is not sitting at home worried about inflation ... but htere's been huge
adoption of Bitcoin in parts of the world where that is the case .. there is mass adoption in Turkey ,the philippines .. Venezuela Argentina, ETC.. the every day filipino has access to Bitcoin via sites like Coins.PH

The US has great advantage that it's the worlds reserve currency. but right now that's being threatened. especially because of digital currencies...

China is working on their Central Bank Digital Currency ..so the US is playing catch up as well. It's not a coincidence that the new SEC chairman is someone who was teaching blockchain technology at MIT. When he was sworn in this week that, he had to answer a bunch of questions about digital currency.. most of them were non answers but that's besides the point.

If the US dollar as world reserves status were threatened , and if that resulted in hyperinflation where the average american , don't you think a great percentage of Americans would seek refuge into Bitcoins and other cryptos?


Also.. I wouldn't agree with the fear of inflation being the reason stocks are down... if that's the case stocks should have been down all of 2020

Blockchain might be useful. Bitcoin is not and will not.

[Captain Save]

Inflation fears are causing growth stocks to tank. Inflation fears should drive gold and BTC up. They didn't go up.

The average American is not sitting at home worried about inflation ... but htere's been huge
adoption of Bitcoin in parts of the world where that is the case .. there is mass adoption in Turkey ,the philippines .. Venezuela Argentina, ETC.. the every day filipino has access to Bitcoin via sites like Coins.PH

The US has great advantage that it's the worlds reserve currency. but right now that's being threatened. especially because of digital currencies...

China is working on their Central Bank Digital Currency ..so the US is playing catch up as well. It's not a coincidence that the new SEC chairman is someone who was teaching blockchain technology at MIT. When he was sworn in this week that, he had to answer a bunch of questions about digital currency.. most of them were non answers but that's besides the point.

If the US dollar as world reserves status were threatened , and if that resulted in hyperinflation where the average american , don't you think a great percentage of Americans would seek refuge into Bitcoins and other cryptos?


Also.. I wouldn't agree with the fear of inflation being the reason stocks are down... if that's the case stocks should have been down all of 2020

[corn18]

how does the market say BTC or Gold is not a store of value or hedge against Inflation?
?

Inflation fears are causing growth stocks to tank. Inflation fears should drive gold and BTC up. They didn't go up.

[Captain Save]

Gold and BTC as a store of value? Hedges against inflation? Well, the market thinks not.

how does the market say BTC or Gold is not a store of value or hedge against Inflation?
?

[corn18]

Gold and BTC as a store of value? Hedges against inflation? Well, the market thinks not.

[srblanco7]

I am almost sure that soon the entire market will be filled with bitcoin. Have you seen how much this currency has risen in the last couple of months? Despite the fact that there are times when bitcoin is falling a bit, if you are looking at the big picture, you will be surprised to see that its growth it's outstanding. Nobody knows how long this will last, but it's important to take advantage of it. A friend of mine has told me about BitScalp, a site where I was able to find charts related to the value of bitcoin. It's a lifesaver since I am able to see when to buy and when to sell

I don't think you're going to convince most folks on this board the investing in bitcoin is a good idea, let alone (based on a quick scan of the site you linked) day-trading bitcoin.

[surfius]

I am almost sure that soon the entire market will be filled with bitcoin. Have you seen how much this currency has risen in the last couple of months? Despite the fact that there are times when bitcoin is falling a bit, if you are looking at the big picture, you will be surprised to see that its growth it's outstanding. Nobody knows how long this will last, but it's important to take advantage of it. A friend of mine has told me about BitScalp, a site where I was able to find charts related to the value of bitcoin. It's a lifesaver since I am able to see when to buy and when to sell

[myrdale]

You want to buy gold? Wonderful, lets say $10,000 worth. Currently $1,559 / oz. So you now have 6-1/2 coins.

Where are you going to keep them? In your house? Safety deposit box?

What if you're robbed?

What if the house burns down? Home owner's insurance is only going to to cover $500.

Ok, you're now ready to retire and your 6-1/2 coins are now worth $15,000. How are we going to sell them?

Ok, say we haven't made it to retirement, instead say the government failed or a hurricane struck and the town is under 2 ft of water. You need milk and cheese, and luckily you have 6-1/2 gold coins. Now what?

Under no circumstance does gold make sense to me. Avoid it.

To illustrate my point further I had the following conversation with a friend:

Friend: Myrdale, you're the smartest guy I know what do you think about investing in gold?
Me: I don't know, I think I would be careful.
Friend: Well I have already purchased 1 ounce for $1,200.
Me: Make sure you keep it safe, I wouldn't tell everyone you keep gold.
Friend: Actually I had to sell it.
Me: What do you mean.
Friend: I needed a new axle and so I sold it. I only got $950.
Me: ...

I can't stress it enough. I put the thoughts of investing in gold in the "poor man's ways" category. Do some research and find out how many millionaires got their money by investing in gold (pawn brokers aside).

Bit-coin is just a gamble. Had you bought in at $1 and sold at $20,000 you could have been tremendously wealthy. Everyone who sold at $20,000 though sold to someone who's investment is now $7,000. I don't want to imply it is a pyramid scheme or a zero sum game, but I do not see the value in it.

If you really want to burn your money that bad, just go to Vegas.

[bjl584]

Neither.

But if you put a gun to my head I'd buy gold.
At least it's real

[rennigade]

Thanks, disneysteve and kork13. After I posted this I did some extensive reading about Bitcoin and I'd have to agree...it's very volatile...and not an option for us. Gold isn't either.

So you didnt do any "extensive reading" before posting that you were thinking about buying bitcoin? Hmm, ok.

[amarowsky]

I am satoshi!

[greenskeeper]

bitcoin = ponzi scheme