/biz/ - Business & Finance

>>28386013

Binance Global & Bittrex

What is the point of buying "precious metals"?
1) turning it into fiat so you can actually use it's stored value is a pain in the ass. You have to find a buyer willing to buy it and then physically send it to them, hope it reaches them and hope they are not scanning you. A process that can take a long time and is inconvenient. Oh and there is no guarantee you would even get a good deal from it.
2) you can't physically use it to buy stuff in society - no one is gonna accept it regardless if they're a starbucks or a car dealership
3) in a SHTF scenario it is worthless. You can't eat it, you're neighbour can't eat it. People with food, guns and antibiotics stashed up will out-survive you. Anyone can take your gold with a cheap lead bullet.
4) any industry needing precious metals is buying that stuff in bulk from major providers. They are not gonna be interested in buying 10 coins and a necklace from some literal who.