/biz/ - Business & Finance

>>24821250
>relative who's a professional bullion merchant convinced me to buy gold in fucking 2012
yeah, never again

Precious metals are a bet that fiat will collapse, everyone's stocks and bonds will be worthless, electricity will no longer exist, but magically your personal property will be safe and everyone will be able to properly assess the value of precious metals.
Also that, right now, there's a giant conspiracy between all corporations, all precious metal dealers, and all central banks to keep the price of precious metals artificially low, because if there wasn't there would be a huge arbitrage opportunity.
There's just too many things that have to go exactly one way in the goldbug scenario for me to trust it.

>>24821555
i agree with what you've written but i still have some gold because it's been worth something to people for thousands of years and the very small size is useful.

>>24821250
Gold is doomed as the higher prices go the more mines come online to dump the price back down, unlike with btc which has a fixed inflation rate Lower then gold

>>24821577
I've been considering buying some, actually, I'm not against it especially since I do think that it'll appreciate in value thanks to the current easy monetary policy.
But the goldbug scenario that they jack off to is absurd. We've already seen what people actually do when the fiat currency becomes untrustworthy in Venezuela and Africa.
They start trading in crypto.

>>24821555
Look at actual modern SHTF scenairos and you realize that lighters, matches, canned food, guns and ammo are much more valuable then gold and foreign currency.

Without guns you will have no access to trade in a SHTF scenairo.

Me personally I would rather just own bitcoin and be able to leave the country with just the clothes on my back to go to a safer jurisdiction. Try moving a million dollars of gold out of your country when communists take over and close the borders and start killing land owners. They will take your gold. It is much harder for them to take your bitcoin.

>>24821555
It was a fine bet honestly. The moment the gold standard was discarded Fiat became a ticking time bomb and Goldbugs only know Gold as underlying value so they thought it would all come back to gold.
Sure other assets would also serve as assets to store wealth like stocks and real estate, but in the end you'd need a currency if Fiat collapses and the world economy needs to fall back to the most basic form of money.

And then, 40 years later some nerds invent an internet currency that makes gold obsolete and all the money and wealth you thought would be going to you because you accumulated shiny metal over the past 40 years, goes to these nerds instead that aren't even in their mid twenties and haven't sacrificed a thing in their life, no missed gains on real estate, no missed opportunity in stocks, etc.

If I were a Goldbug I'd bead as fuck too and seethe and magic internet coins till the end of my life. I can only imagine how frustrating it is.

>>24821786
Based schizo. Hopefully you'll kys with that gun.

>>24822065
How am I schizo when I am using a historical source as a reference? Gold holders are the schizos.

>>24821963
Yeah gold bugs basically held their bags for 30 years and just as the thing they have been warning about for decades happens bitcoin comes along and shits all over them. That's why so many boomers on comment sections talk shit on bitcoin, it's not because they actually know any better. They just don't want to admit that they are holding the wrong thing.