/biz/ - Business & Finance

>>14638225
Because gold is for old families who’ve had it forever. Sorry they wouldn’t let you join the club Anon

>>14638225
Buy gold mining instead

>>14638225
First off, you don't have to buy at 5% over spot. Many mints offer just over spot deals throughout the year. For example: Last week Provident metals had 1oz gold coins at $14.99 a coin over spot. It was a limited deal and you needed to get in on it right away, but they happen pretty often. Secondly, if you're paying someone else to store it, you're an idiot.
Thirdly, nobody is forcing you to sell it under spot, in fact many times you can sell them outright and make a premium.
Keep being retarded and stay poor...

>>14638225
>how is gold a store of value?
in an alternate universe where it's actually scarce

>>14638225
>capital gains tax
Sorry but you only have to worry about that if you sell a horde and make more than $10k. Then you report how much you profited. Meanwhile you have to report all your BitCoin earnings.

>>14638868
in my country it's the other way around.
gold from 1oz is reported by the merchant to the irs so you have to pay taxes on it it's not optional meanwhile bitcoin is counted as currency. and currency exchange is only taxed if you forex daytrade you are not expected to hold records or pay taxes on currency held over a year.
tldr legislation differs greatly around the globe.

>>14638347
>gold price = $1,400
>$15 over spot = 10%+

What did he mean by this?

>>14638225
1965 gold = $35/oz oil = $2.25 barrel ratio = 16:1
2019 gold = $1385/oz oil = $55 barrel ratio = 25:1

So you can buy more oil with gold than you used to...even though nominal values have fluctuated. You have locked in the effeciency gains that tech has brought to oil sector and preserved your purchasing power.

Also remember, technically I'm not supposed to be answering your question because /biz was always intended to be a whites-only board.

It's a hedge against a very specific low probabilty scenario (collapse of civilization, but not enough that people still care about precious metals). Not a good investment, but a decent hedge.
With bitcoin you buy into a new asset class representing the information age, very early. That's why it's very underpriced and thus a good investment.

>>14639448
No. Look at historical gold / oil ratios. They have increased for decades...gold continually buys you more on average as it does with 99% other commodities.

>>14638347
can you give us a link or post here again when it happens again?

>>14638225
Palladium is the new gold

Think about the first generation of speculators buying oil fields, with 99.999999% of humanity oblivious to the value of the oil. That's bitcoin.
Gold price on the other hand is priced pretty correctly as even literal third world brainlets know it's value by heart.

>>14639448
people don't understand that returns are always proportional to risk. gold gives you shit returns because it's even less risky than fiat. bitcoin gives you great returns because it's extremely risky to hold it as of yet.

>>14639508
No one around to buy the story of the shiny rocks and the propaganda and story telling monopoly is gone since 20 years

>>14638305
Buy royalty and streaming companies instead

>>14638862
>scarcity argument
>posts alternative investments that can literally be created at will

>>14639517
Nor how portfolio theory works. As planB as showed, 1% BTC / 99% Cash out performs stock market at lower risk over last 10 years. Extrapolate from that into a more reasonable allocation including gold / stocks and you have almost a surefire way to retire

>>14638973
Then buy legal tender coins.

>>14638225
Gold is a complicated commodity. Fact is that humans have used it as a storage of value for the last 5000 years. It was only recently in the 80s we switched away from the gold standard.

You’ll hear all sorts of arguments such as,
>in the 1930s, an ounce of gold could buy you a fancy suit. This is still true today

I don’t own any but I kinda want to.

>>14638225
>instantly lose 5% when you buy it because you have to buy at 5% over spot
true but not 5%, tell me what product you can get for the cost of the raw materials. Who would mint the coins if they didn't make profit?
>have to pay lots of money to store it and/or insure it
no you don't, maybe if you buy like $100,000,000 worth, but not for anyone on biz
>lose another 5% when you sell it because you have to sell at 5% under spot
plainly wrong. You keep the primum you paid for the coin in the first place
>have also to pay capital gains tax on it when you sell
wrong. the coin you posted is capital gains tax free for uk tax payers

>>14639694
well that doesn't invalidate anything i said. and there is nothing surefire about 1% btc 99% cash. worst case you lose 1%. best case you double your money.

but sure everyone should draw a line in how much of their net they are comfortable to be in crypto. to me it used to be 5%. 30% for real estate and at least 10 to 20% cash. but lately i see bitcoin more attractive than cash ever for cash purposes.

>>14638989
This is bait. SURELY this is bait

>>14639804
This "gold retains value related to buying bread" argument is pretty retarded and falls apart when one actually does historical research.
Precious metals' value fluctuates wildly and has crashed many times in many societies.
Godlbugs are literally the marks of shrewd gild salesmen.

>>14640027
not to mention the labor value of bread has fallen greatly the past few century both for the ingredients and the braking itself. so if gold retained purchasing value in bread that's the worst advertisement for gold ever.

>>14639966
>well that doesn't invalidate anything i said
I was agreeing with you...i was continuing the argument with "not only do ppl not understand risk-return are directly related", but also "they can be combined into a portfolio using math that maximizes return and lowers risk if done correctly"

>>14640074
ah, i see

>>14639555
In english, please

>>14639035
Lol at choosing a date pre 70s decoupling USD from any backing whatsoever.

I'm buying gold tomorrow by buying silver today
Stay made cryptocucks

>>14638225
I be there were people like you back in 2000 trying to talk everyone out of buying PMs

>>14638225
>have to buy at 5% over spot
you're fucking up

>>14638225
Look at it as a safeguard for a literal holocaust situation.
Jews have survived and found themselves in a good financial situation after the war because they hoarded gold jewellery.
It's not an investment, it's an insurance in case everything goes to shit.

>>14640901
And it really feels like things may be going to shit... If things stay a-ok and my gold/silver don't do anything for 30 years I'm fine with that.

>>14639739
no such thing here investment grade gold is a completely separate asset class with separate rules (which don't even apply to silver).

>>14639672
gold is mined at an exponentially increasing rate.
bitcoin on the other hand is designed to get increasingly scarce. gold is definitely going sub $1k long term probably heading to $50.

>>14641609
>gold is mined at an exponentially increasing rate.
this is one of the dumber posts on 4channel

>>14639672
The only reason gold even went up in that graph in the 90s is because we leaned heavily into electronics. Otherwise it'd basically be a flat line. New companies and services are infinite but they're also valuable because they provide new utility. Electronics are, or I should say were gold's new utility, but even that's declining precipitously.

>>14641704
>he doesn't know about the asteroid mines

>>14641926
you're wife's grand kids will still be saying that meme

>>14641926
>"""""""""""""""""""""""""""space""""""""""""""""""""""""""
god you fuckers are so easily decieved it's ridiculous

>>14641926
my dream is to be a fucking space pirate
jacking unmanned miners loaded with precious metals on economic predictable trajectories
skipping on the space pigs using stolen transponders and tampered drive signatures
with the occasional nukes for tight situations
unloading the contraband on a space station
never to step foot on the rotting bloody impoverished planetoids.

>>14640667
I want the fucking price of gold to tank so I can stock up.

>>14641926

>>14638225

>Recognizable physical properties
>Non-reactive, doesn't easily corrode
>High density metal, 19.3 g/cm3
>Doesn't just exist in strings of 1s and 0s
>Can be divided into fractional weight units
>British SAS operatives are issued a belt with pic related in the event of bartering for goods & services in some souk in Sandniggerstan
>When American Express will not suffice, gold coins will
>The Jew knows what REAL MONEY is

>>14643950
if the hurricanes in the philippines taught us anything then usd first gas second booze and cigarettes third and then after food and water and generators and radios on the end of the long line of shit comes gold.

>>14643950
Yes.

Gold gets its store of value because it is inherently money and has all the characteristics that money has to be...

Not too high of a melt point....fungible.....indestructible.....unit of account....rare but not too rare....medium of exchange, etc

>>14641704
it's true look it up nignog
gold used to be mined at the rate population grew in the old days. in the modern days population shrinks and gold mining rates are increasing like crazy. in the next 30 years the only thing that will perform worse than gold is silver.

>>14644034
notice how you didn't mention bitcoin? there's a reason for that

>>14644301
nobody accepts bitcoin where everything went to shits this way. however it's the best escape vehicle for your wealth if you can get to the nice parts where everything is okay. as it can not be stopped stolen or confiscated.

>>14644034
>on the end of the long line of shit comes gold
durr, you're not gonna spend it if you dont have to. gold buys you a wife or your nieghbors wifes dignity

>>14644126
ok bruh, we are not going parabolic. its little better than 1:1. most of the demand came after we spent too much money in Vietnam. and take a look at how much work they have to do to get this shit now

>>14644435
>we are not going parabolic
my mistake... i totally don't know what a parabola looks like apparently

>>14638862
based
fuck Gold faggots

>>14644599
>gold is infinite

>>14644925
gold is practically infinite in the universe and you could cover the surface a meter high of the entire planet with how much gold earth has. but mineable gold as we know may run out in 30 years if no new discoveries are made (of course same was said of oil). which is why everybody digging up the seafloors.

>>14638989
This is bait but you're still retarded

>>14638862
G*ld boomers on suicide watch

>>14638862
>leaving out bitcoin
the absolute state of no-coiners