/biz/ - Business & Finance

>>25159975
The entire PM market is poisoned with derivatives. The difference with BTC is that while derivatives exist, they only have so much power to influence the actual masses of real buyers and sellers because anyone can opt-out of counterparty risk easily and at any time just by holding their own private key.

When a big institution comes along and buys a bunch of gold, they aren't actually taking possession of it. They are just entering into a contract with some custodial service (like HSBC) that """guarantees""" that they have the actual underlying asset, when really it's just another fractional reserve system.

But when a big institution like PayPal comes along and buys 10,000 BTC, you can't fake it, it's on the public ledger. That is withdrawn from the circulating supply and there's nothing trading desks can do about it. JP Morgan is a known manipulator of silver futures, but they've been running into similar problems this year as the physical deliveries are now ramping up, and JPM's stockpile is diminishing, meaning they can't just go naked shorting anymore or they will get rekt.

In today's market, (non-physical) gold/silver is more of a ponzi than BTC. And I'm a goldbug too, I hold physical gold/silver/platinum, gold/silver/uranium miners, as well as crypto.

https://usdebtclock.org/