/biz/ - Business & Finance

Crypto killed it

gold has its place in the world but that is not this current world, we must have a full collapse and during the rebuilding from the ashes is when its time comes again, during the collapse guns/ammo are the currency btw

>>28689007
The gold price is artifically supressed.

>>28689007
It's a question of whether you believe BTC will go down with the dollar

>price keeps going up
What does this mean?
You're drawing conclusions from a 4 month bullrun?

>>28689007
>>28689247
https://www.google.com/amp/s/www.wsj.com/amp/articles/jpmorgan-paying-920-million-to-resolve-market-manipulation-probes-11601393666

>>28689007
>price never moves
Gold isn’t for gains. Its for stability.

Gold is a scam. It doesnt even keep up with inflation,. Fuck peter schiff.

Theres god in every phone, compuer, electric device

Gold will be a good store of wealth until someone starts mining those asteroids

>>28689007
>Do people even buy gold? It seems like some kind of boomer myth
Retards buy it because they think it will be super valuable after the US collapses. Literally only for braindead boomers.
>>28689247
>The gold price is artifically supressed.
Just like GME and DOGE, right?
>>28689290
>You're drawing conclusions from a 4 month bullrun?
More like a 1 year bullrun

>>28689454
But it doesn't even keep up with hyperinflation like other assets are such as property, shares, collectables, and yes, now crypto.

gold will pop off when btc gets shown as the fraud that it is and the stock market bubble pops.

>>28689495
Gold**

>>28689007
The gold market is much, much bigger than BTC, ranging into the trillions of dollars. The amount of money it takes to move the gold price is far larger than crypto.

Gold is also a much more manipulated market, and has more serious industrial & retail demand

>>28689551
What will you say when BTC is $1,000,000/coin and gold is still less than $5,000/oz?

>>28689007
Gold is like Diamonds or Platinum. Artificially high price and can be made in a lab by bombarding lead with gamma radiation from simple radioactive elements.

>>28689007
bitcoin will flash crash to fucking zero as we saw back in march. such instability renders it totally useless as a store of value.

>>28689590
yes, also btc has a tiny float and very little is actually traded, which is what also contributes to its price fluctuations

always rember it's not possible to lose money in crypto unless you're a btc maxi
https://ipfs-pastebin.herokuapp.com/QmSofZy4PFZf5huz1nm28x5zni38ifSwTBvRG3wvzy9NwS

>>28689516
The demand for gold isn't there when other people are chasing other commodities that can garner more wealth and has higher demand, when SHTF though, gold is a vital commodity

>>28689007
gold is useful only in case of nuclear war
so never

>>28689615
how will that change what he said from being true? bitcoin is a bubble just like stocks are a bubble, does that mean they aren't expensive now? this argument makes literally no sense. why would you buy the top of the bitcoin bubble when gold is severely undervalued? you're just begging to lose everything with the rest of the crypto subhumans who are going to get caught with their pants down when shtf and have no way to get gold or silver.

>>28689703
>when SHTF
>when SHTF
>when SHTF

If you invest based on shit hitting the fan, you're a retarded cunt who should have a caretaker taking care of your finances.

I think gold will move when institutions finally wake up to the fact that boomer bonds are the worst investment ever and they can’t get into crypto.

>>28689634
>Gold is like Diamonds or Platinum. Artificially high price and can be made in a lab by bombarding lead with gamma radiation from simple radioactive elements.

>>28689634
forks new coin with same functionality

>>28689615
BTC is fulfilling a historical purpose of allowing people to quickly escape fiat, beyond that it is not viable as a currency and will not be around in 10 years or so

>>28689556
Interesting visit from God.
Hello.

>>28689634
This is opposed to silver which is difficult to create artificially with so many possible isotopes in the process with none of the steps being liquid like mercury to sift through to accumulate the stable isotopes.

>>28689771
gold isn't an investment you fucking subhuman tier IQ, it's insurance. if you think 'shtf' isn't going to happen then keep playing jewish and chink crypto/stock games and we will see who comes out on top.

>>28689759
Nocoiner making ignorant assumptions, imagine that?

Dunning kruger effect keeps people like you poor and missing opportunities when they present themselves

>>28689810
Investing in gold with today's scientific knowledge is the equivalent to investing in diamonds right now. Not in the least a smart idea.

>>28689007
peter schiff says silvers going to triple digits so i bought 400 ounces

>>28689771

Nobody has needed to invest based on collapse because Western economies have been somewhat functional for decades, allowing people to have a decent standard of life.

That game is ending; we are at the end stage of a debt/fiat cycle.

This is not even to say, don't buy stocks or don't get retail, but you have to be seriously cautious and at the very least, keep some money safely stored as gold

>>28689698
next-level seething and copium

Most maxi niggers are too dumb to understand how they are getting played rn

>>28689837
Replace btc with the internet, fiat with the press, and currency with media you retarded boomer

>>28689247
What's stopping them from manipulating BTC?

>>28689950
see:
>>28689810

>>28689506
i bought a 60 ounces of ASE's and 100 merc dimes and a 1/4 gold eagle back when silver was 18/ounce. I don't think I'll sell but i doubt I'll buy more.
in the digital world, digital currencies will be the hedge. BTC probably will be around forever, but it's likely a better crypto will surpass it eventually.
I have an 11 year plan and a 19 year plan.
I sold out all my crypto before this bullrun and bought things like a deep freezer, ammo, magazines, etc. Also bought an 80 acre farm with running water on it and a small farmhouse in a remote rural area. From here on out, I'm buying btc, eth, xmr, link, and a small basket of stocks. I'm considering doing some options trading but realistically i want to be buying things I'd like to hold in 11 years and 20 years. That was my mistake. Selling at $2,000, $4,000, $6,000, $9,000, I've learned my lesson. I was too short sighted. My financial needs are met for my short term comfort, i have a place to live, food to eat, and some peace of mind possessions like a rifle and some pms.
My current pursuit is going to my state's university online for a bachelor's in computer science. I'm just going to learn as much math as possible, buy what I can, and hold until someone can inherit from me

>>28690111
Called projection. You are assuming billionaires and world governments are as dumb as you so aren't creating large storehouses of gold using lead+gamma radiation to dump into the market in the future tanking the price.

>>28690088
Yes BTC, the expensive and slow af blockchain reliant on chinese state subsidized electricity

>>28690093
nothing, it's easier for them actually lol, why do you think the jews are now trying to get the masses to NOT buy gold but to buy their digital nothing?

>>28690005
BTC is not unlimited, so this theory makes no sense when trying to apply it to BTC.

There are a maximum of 21 million BTC that will ever exist. Many millions were already lost in the early days. So the supply is extremely limited.

>>28689698
based and redpilled

>>28690093
Nothing. Eventually it’ll happen to Bitcoin like everything else. It just hasn’t had enough time to be consolidated by banks and governments yet. Not having token burn assures this

>>28690235
You can emulate infinite numbers of copies of BTC for free, it's the exact same shit.
Actually it's even worse since BTC is an obsolete dinocoin, your copies will most likely be faster and more efficient.

>>28690235
but it's easily replicated. the only reason bitcoin is the runner is because it has the best brand name currently, not because it has a competitive moat.

>>28689950
they cannot make gold in a lab and even if they could it would still be cheaper to mine it because of the ridiculous conditions required to create gold

>yes, goyim. You need gold more than anything else
>I'll happily take all of that worthless fiat off your hands in exchange for my own precious irreplaceable gold because I'm such a great guy

>>28689007
lmao you retard are trully delusional. Gold has held its value toward man's history, your shitty digitalcoins will all go to 0 within 10 years. gold is a real refuge, with intrisic value, unlike digital coins. (ok i like crypto too but i am pushing a bit so you get it)

>>28690093
BTC is already manipulated. 95% of BTC is held by 2% of the holders. It also has an extremely small float.

>>28689980
did he say Bitcoin would be five digits

>>28689007
>west of the rockies call one eight hundred ...
it used to be $300 an ounce. I member

>>28690003
Enjoy being zero'd. :)

>>28690235
you can trade futures, same thing that is used to manipulated limited gold and silver can be used to manipulate limited bitcoin. only difference is bitcoin IS the surveillance police states wet dream whereas gold is untraceable

>>28689007
Golds price isnt in a bubble and exactly what it should be worth. Gold is one of the only assets that grows organically while bitcoin is all banks and tesla readying up for a pump and dump

>>28690402
it's amazing to me how religious people are about btc, where they'll attack you for making any bear argument. I trade crypto also, but it's for fun and gambling, I realize eventually the rug will get pulled.

>>28690421
This kill the seething maxicoiner.

>>28690455
How much and how long would it take to move $1 billion dollars worth of gold from 1 place to another place in the world?

You can do it with Bitcoin instantly (Digital Gold), for about $15.

>>28690232
>jews are now trying to get the masses to NOT buy gold
Alright, now I know youre retarded

>>28690517
>where they'll attack you for making any bear argument.
theyre either overleveraged which is exactly what is going to cause the coming depression or they are deluded into thinking they will make it

>>28689007
gold and silver arent permitted to trade at their actual value lol. they're both inflated by paper gold and paper silver to the tune of 100x the actual amount of gold and silver. unironically, if you're holding $10,000 worth of gold/silver today, physical, you have a make it stack. just wait.

>>28690532
Now post every other asset class from property, precious metals, collectables, stocks, etc.

>>28690537
>How much and how long would it take to move $1 billion dollars worth of gold from 1 place to another place in the world?
>You can do it with Bitcoin instantly (Digital Gold), for about $15.
protip: that's not a good thing.
>>28690576
nigger turn on a television and see for yourself. you are bombarded with bitcoin ads these days.

>>28690614
>>>28689007 (OP)
>gold and silver arent permitted to trade at their actual value lol. they're both inflated by paper gold and paper silver to the tune of 100x the actual amount of gold and silver. unironically, if you're holding $10,000 worth of gold/silver today, physical, you have a make it stack. just wait.
>just wait

>>28689007
Enough said

>>28690373
>they cannot make gold in a lab and even if they could it would still be cheaper to mine it because of the ridiculous conditions required to create gold
Literally not true. You just stick lead or mercury in the same local area as say a bunch of radium. Just because there is some scientific jargon doesn't mean the process is expense. Is the equivalent of printing money.

>>28689634
>some low iq alchemy fud
Gold is only made in signifant amounts in supernovas where heavy elements fusion into even heavier elements. Manufacturing gold in a lab the way you described is not possible.
t. Actual nuclear physicist who is currently stacking PMs as a hedge against the clown economy (which includes the entire internet meme money space)

>>28690737
>Gold is only made in signifant amounts in supernovas where heavy elements fusion into even heavier elements. Manufacturing gold in a lab the way you described is not possible.
>t. Actual nuclear physicist

What is this then:

>Gold can currently be manufactured in a nuclear reactor by the irradiation of either platinum or mercury. ... Using fast neutrons, the mercury isotope 198Hg, which composes 9.97% of natural mercury, can be converted by splitting off a neutron and becoming 197Hg, which then decays into stable gold.

Anyone taking Physics I or II would know about nuclear fission. Clearly you are a liar.

>>28690687
>protip: that's not a good thing.
Yes it is, its the entire point, you shit cunt.

The point of Bitcoin is to be 10000x more efficient than gold in terms of storing and being able to transfer large quantities of wealth, without the use of governments, institutions, cargo ships/planes, security, and a bunch other bullshit that goes into it.

Accept it cunt, BTC (and Crypto in general) is taking over this space and making precious metals (as a store of value) obsolete.

>>28690737
>t. Actual nuclear physicist who is currently stacking PMs as a hedge against the clown economy (which includes the entire internet meme money space)

>>28690620
I can't because they aren't easily trackable with an open ledger like BTC is.

>>28690614
i've been waiting for like a decade

>>28689516
Gold is only incidentally marked to market. You just assume it's normal because it's all you've ever known. The price is actively manipulated by the bullion banks. It's true value is that since the dawn is time this metal has had the ability to hold it's same value through time even well before the US dollar existed. Your problem and the reason you don't understand gold is because your world revolves around dollars only.
In essence you are a moron.

>>28690005
imagine screenshotting your own "I'm a virgin and the kikes are to blame" post as if anyone wants to read it

>>28690832
>The point of Bitcoin is to be 10000x more efficient than gold in terms of storing and being able to transfer large quantities of wealth,
but it 100% failed on this premise alone lol, bitcoin is too volatile to store your wealth. look at march... are you seriously going to claim that bitcoin stores wealth when it dumps 25% in one 2 minute candle? you can't be serious.

>>28690687
Every time I turn on the TV I'm bombarded with people trying to sell me limited edition gold coins and other gold "collectibles". Literally 2 or 3 different gold sellers per ad break, it's relentless. They're dumping their bags now gold is at ATH
https://youtu.be/TEVGlPxDGKc

>>28691111
okay so keep buying your internet cuck-e-cheese tokens and i'll keep accumulating gods real wealth store lol

>>28691224
>>28690945

>>28691254
you seem to be seething, I wonder why

>>28691078
Imagine hoarding fake memecoins used as a diversion by the kikes so the dumb retards of your kind never get your hand on true wealth. You'll end up pennyless and the only thing left you'll own will be this based screenshot of me trying to redpill you on what you should have done.

>>28691224
Kind of puts a dampener on your "(((they))) are actively trying to stop you buying gold" narrative

>>28691340
didn't read this post, either

>>28691460
These companies are just leeches profiting from the arbitrage, they could do the same thing with any commodity. They simply choose gold for obvious legal loopholes and big discrepancies between spot and premium.
They are the true winners of the manipulation, but they are just minuscule parasites, the exact same way you see real estate sellers on TV everywhere all the the time.

>>28691660
I know, niggers like you don't know how to read.

>>28691460
why exactly would the jews want people buying untraceable currency when they have their goyim lining up for their mark of the beast ultra traceable forever visible blockchain? you are a midwit if you believe they want you to not use crypto

>>28690360
hashrate = security, market cap = liquidity. bitcoin has em, your imaginary shitcoin doesn't.

>>28690687
>nigger turn on a television and see for yourself
Boomer news is constantly shilling gold.
>you are bombarded with bitcoin ads these days.
I've not seen a single one, nigger.

>>28690402
>muh intrinsic value
what % of the current price of gold do you think is for monetary value vs jewelry? 99%? 99.9%?

>>28690811
In common light water nuclear reactors the fissile nuclide is U-235 and in a lesser amount Pu-239. Some other isotopes also contribute but in insignificant amounts. The fission of these nuclides does not yield gold. Yes gold can be theoretically created in a reactor through certain reactions but is not economically feasible that is why nobody is doing it. There are hundreds of nuclear power plants operating and none of them is recovering any gold. Are they all just in some grand conspiracy to artificially sustain a higher gold price?

>>28692036
>nobody is doing it
Naive.

>>28691851
i don't think it will get replaced by link or something, i think it will get replaced by government crypto.

i knew buttcorn zoomers were completely illiterate about economy, but holy fuck this is a whole 'nother level of idiocy...
We truly entered idiocracy.

>>28689007
Gold has been supremely over priced for thousands of years, gold and silver will be worthless once people realize how worthless it is. They're not rare metals anymore, they are so common that you can find it at Walmart and in every cell phone.

>>28692114
I've worked for commercial nuclear power plants and can quarantee you that I have never encountered secret gold operations. But sure call me naive.

>>28691804
Then why are they actively shilling it every 15 minutes to as many Normies as possible on TV all day every day? Your hypothesis is completely at odds with reality.

>>28691804
>why exactly would the jews want people buying
Shekels.
>untraceable currency
Gold is not a currency.
>mark of the beast ultra traceable forever visible blockchain
Youre a retard if you dont know how to make your bitcoin transactions untraceable.
>you are a midwit if you believe they want you to not use crypto
They want you to stay hooked in the jewish financial system (ie. credit cards, paypal, etc.). They definitely dont want you using any currency outside of their controlled paradigm and jews have been the kings of gold for the past 2000 years

>>28691340
This niggas gona die a poor goldcel polcel

>>28689007
People who know know. That’s why. Don’t be a normie loser.

>>28690421
Bitcoin has 100% float retard. It has low velocity and liquidity however.

>USD is a bubble
>real estate is a bubble
>stock market is a bubble
>BTC is just getting started

>>28692254
Didn't know you guys work on Sundays.

>>28692654
jews take off on saturdays m8, not sundays

>>28692749
That's religious Jews. Most Jews who are in control are non-practicing. Being a Jew isn't just religion, it's an ethnic group.

>>28690721
So where are all these alchemy companies that are putting miners out of business?

>>28690721
Wut

>>28689007
Gold is a metal. It's needed in industry because of its purity i.e. unlike other metals it doesn't corrode and you can make it incredibly thin. It will always have value but it's not an 'investment' as it doesn't move. It's a way to make sure what you save today will be available 20 years from now without depreciating in value.
But if you're really into metals as money then you would stack silver not gold. Silver is more suppressed so say if the dollar or euro depreciates to toilet paper with silver you're not only keeping your purchasing power but also gaining because of how the price is being held down.

>>28692254
How does it feel to have the tiniest brain in the whole thread?

>>28692654
>>28692749
Jews want you buying gold so they can dump their bags on you.

>>28691110
Gold also fell more than 20% during march you stupid cunt.

>>28693249
You insult because you can't argue.

>>28692447
>Gold is not a currency.
stopped reading here

>>28690093
Tether, anyone?

>>28692441
>actively shilling it every 15 minutes
oh really? fucking WHERE? put on any business or finance program, none of these kikes are telling people to buy gold and silver but ALL they talk about is bitcoin and doge.

>>28693458
go try to spend your gold at any store

>>28689893
if SHTF then what good are tangible metals when what people will want is food, water,lighters,cigs,blankets etc.?

>>28693739
and those with a surplus of those goods will use what to exchange their goods?

test

>>28693632
In every single commercial break I've seen over the past 6 months, that's where.
>buy this limited edition gold sovereign coin and you too can own a piece of iconic British history
>stocks are limited to 999,999,999 coins so act now while stocks last
Dumping their bags

https://youtu.be/TEVGlPxDGKc

>>28693831
Depends on what level of shitfan were on. If its a movie level apocalypse, probably barter for supplies. You cant have a surplus of everything and bullets are always better to have more of. If its a collapse of the US dollar, probably euros or some other fiat.

>>28693831
you're talking as if people are going to set up shop in a SHTF scenario. I don't think one can call it SHTF if you're able to do that.

>>28690350
>You can emulate infinite numbers of copies of BTC for free, it's the exact same shit.

Yeah, just like you can write down numbers with your keyboard and magically your bank account balance increases because it's all just compuuutas, hm?

lol retard

>>28694276
you don't need to set up shop to fucking barter retard, if you don't think people will be bartering instantly for gold and panicking to get gold then you must be non-white.

>>28694420
>Yeah, just like you can write down numbers with your keyboard and magically your bank account balance increases because it's all just compuuutas, hm?
uh yes actually retard. do some research on what sound money is, why the US was a gold standard, and what happened when it stopped being on the gold standard. were still living in the delusion that the dollar has value when it doesn't

>>28694193
go try to buy physical gold and silver and report back faggot

>>28694446
>people will be bartering instantly for gold and panicking to get gold
holy shit this is complete delusion. Literally name one time this has happened.

>>28693248
>Gold is a metal. It's needed in industry because of its purity i.e. unlike other metals it doesn't corrode and you can make it incredibly thin.

Less than 20% of all gold production is used for anything but jewelry and hoarding in bank vaults. Gold has very little industrial application.

Non poorfags with real portfolios will have both gold/silver and crypto. It's not that hard to hedge your bets and get exposure to more than one asset class. But yeah for now bitcoin is eating golds fucking lunch, might not always be the case though

>>28694446
my can of sardines will be worth all the gold you have when you're starving.

>>28694621
>holy shit this is complete delusion. Literally name one time this has happened.
uh try the fucking run on the banks at the great depression? did you think they were clamoring to get their paper silver and gold notes? lol

>>28689007
Gold was the bitcoin for boomers. It's ok if you bought around the 70s but not anymore.

>>28694755
so your argument is that I will starve if I have real currency to trade for food as opposed to eating if I have fake digital currency where no one can access it because they have no internet or computers? huh?

>>28694582
>Gold and silver coins don't qualify as physical gold and silver
What exactly are they then, retard? My retarded boomer dad who doesn't know how to use Caps Lock on his laptop has an entire wardrobe full of gold and silver bullion he bought online, it's that easy.

>>28689634
Holy fuck the burger education system.

>>28694757
>the fucking run on the banks at the great depression?
I dont think you know how currency worked back then. Yes, the US dollar was backed by gold, but people didnt expect to withdraw literal gold out of their local bank.
>did you think they were clamoring to get their paper silver and gold notes?
Yes.

>>28694945
you've pointed out that I lost track of the thread subject at hand, possibly too many threads opened at once. It may be smart to invest in both.

>>28695017
wtf are you even talking about nigger, I'm saying go try to actually buy it instead of talking about a fucking infomercial. protip: its selling out everywhere

>>28695063
>but people didnt expect to withdraw literal gold out of their local bank.
that's literally exactly what happened you fucking disingenuous kike. the banks didn't have enough gold to exchange and so they had to shut down the banks for a week. do you know literally nothing about history?

>>28689615
>What will you say when BTC is $1,000,000/coin and gold is still less than $5,000/oz?
I will be saying thank you while using my severely overvalued bitcoins to buy severely undervalued gold and silver.

>>28691037
This desu senpai

>>28695107
>in stock
>in stock
>in stock
>in stock
>in stock
>in stock

>>28689590
Crypto has virtually no other use than as a pyramid scheme - as you say, gold has many uses.

Crypto literally a bunch of numbers calculated by computers. Anyone can make a new crypto. And the bitcoin supply could eventually be increased with an “update.”

When a monetary collapse occurs, crypto billionaires will be trying to trade their crypto for tangibles, and VIRTUALLY NO ONE will accept their pretend currency because it will be shown to have ZERO PURCHASING POWER. Almost no one accepts crypto as payment today, and no one wants to spend it because of how much they hope it will go up.

>>28689007
gold was unironically the first bitcoin
F

>>28689007
1) you're comparing something that's been adopted by the world for thousands of years already to something that's only a decade old and is still in the very beginnings of the adoption phase. If/when bitcoin reaches a similar market cap and becomes a world reserve asset, you'd end up seeing it not having as much volatility either.
2) bitcoin is fundamentally a better store of value than gold and is much more easy to exchange/store/transport
3) bitcoin is public and therefore completely auditable. Gold is not. There's tons of market manipulation with precious metals, governments and vaults claim to have more than they really do, companies issuing more paper gold than actual physical gold, and so on. You can't do any of those jewish tricks with bitcoin.

>>28689007
When people praise gold, they then buy paper gold, which is created out of thin air. Essentially, gold investing is not about owning gold, but about betting what COMEX will bring next.

>>28690093
Well, to some extent it may be manipulated insofar as one uses shit like RH, where crypto never existed.

I don't think you guys understand. There is over 100 times as much owned ounces of gold, as there is ounces of gold in reality. For silver, that is even worse.

>>28695166
>Nonmember banks kept a portion of their reserves as cash in their vaults and the bulk of their reserves as deposits in correspondent banks in designated cities. Many, but not all, of the ultimate correspondents belonged to the Federal Reserve System. This reserve pyramid limited country banks’ access to reserves during times of crisis.3 When a bank needed cash, because its customers were panicking and withdrawing funds en masse, the bank had to turn to its correspondent, which might be faced with requests from many banks simultaneously or might be beset by depositor runs itself. The correspondent bank also might not have the funds on hand because its reserves consisted of checks in the mail, rather than cash in its vault
https://www.federalreservehistory.org/essays/banking-panics-1930-31
In short, the banks kept their cash in vaults far away and werent expecting to have to give it out all at once. Bank partons werent trying to trade their USD notes for actual gold, you moron.
>do you know literally nothing about history?
Oh, the irony.

>>28695783
Silver coins are, or actually were going out of stock. Because everyone is pushing that sweet silver squeeze. However, this doesn't mean you can't buy silver anymore, butyou just have to pay a helluva premium. As in, at least one third of price and crazy shit like that.

Still, that wont break the COMEX as some people thin. COMEX will definitely not be broken untiul at least August, when JPM's 3 bn silver ounces short falls in (annual global production for silver is 1 bn ounces btw). Expect heavy spoofing and manipulation and a populace that "has had it".

>>28695311
>traps and futa
i hope you enjoy fire cuz you'll be burning in hell for eternity

>>28694621
>Literally name one time this has happened.
After the Communist uprising in Hamburg, Germany (October, 1923)
>Tales of mass executions and the often violent expropriation of wealth by Lenin and his cohorts surely would have focused the minds of wealthy Germans on getting their wealth changed into a form that was easily transportable and that could only mean gold.
>With an equivalent amount of silver weighing about sixteen times as much, it seems quite apparent that demand for gold skyrocketed whilst other forms of tangible but more cumbersome wealth were traded in for gold to the extent that people were prepared to give up 90% of their assets to accommodate this dectupling of the gold price.

>>28694786
oh no...

>>28689698
Unironically retarded

OK, here goes, gold investing 101.

1 ounce is brought into a bank, where 10 people want to invest in an ounce of gold.

The first guy walks up, he buys one ounce , but he is offered a storage in the safe of a bank where it is completely safe and is treated like any other deposit of gold.......Or, he could, you know, take the gold, pay a 5% premium, then keep it at home where it may or may not get stolen, then when he sells it he may (depending on where he sell it) have to prove that it's real using expensive processes, which is usually deducted from the selling price so that he may be losing 25% on his investment in an instant. He decides to keep it in the safe of the bank, where he may either withdraw it in terms of cash at any time, or in physical form with a two weeks notice. The gold he has deposited could have been stored in the bank, but it's better business to sell it on the market and rent the safe out, since gold itself generates nothing. They put the bar out for sale and rent the safe to someone else.

The first guy leaves happy, knowing he has invested into an ounce of gold, and now the next guy walks up to the counter and buys the ounce of gold.....

>>28690376
I hate this jewface

>>28696768
>wealthy fat-cats needed a way to transport their wealth outside of the communist lands
Which they immediately sold for actual currency the moment they got over the border. This is not the "average person using gold as currency" situation that you described.

>>28698028
I didn't describe shit, you moronic faggot.
I answered your question; people were immediately panicking to get gold.
Currently, Venezuela has a black market in which food and supplies are (illegally) purchased using silver and gold.

>>28696250
>bitcoin is fundamentally a better store of value than gold

Well trolled.

The supply of crypto is virtually unlimited. Some “””store of value”””

>>28699013
You've had 13 years to study Bitcoin, and you still think its "unlimited"

Ignorant gona die ignorant.

>>28699096
In 13 years, 8,000 cryptocurrencies have been created.

In another 13 years, there will be many more than that.

That does not constitute money that is “limited.”

>>28698938
>I answered your question; people were immediately panicking to get gold.
I asked for an example of a time when:
>people will be bartering instantly for gold and panicking to get gold
You gave an example of a time when a small group of rich people wanted gold to smuggle their wealth out of the country. It was not a time when people were bartering with gold and everyone was panicking to get gold to barter with. Learn to read, faggot.

>>28699096
>study Bitcoin
>r*ddit spacing

>>28699410
We're talking about Bitcoin

>>28699507
bitcoin isn't a fucking fundamentally unique thing and literally CAN be just fabricated into thin air infinitely though. one computer program is not different than a copy of that computer program. good luck forging gold unless you're a dying star.

>>28690204
Crypto/stocks/fiat are all fake as hell.

>>28689007
It's exactly what you think it is. People over 50 want to invest something they think they understand and buy precious metals, not knowing the mining companies control the price.

>>28699507
How does one differentiate the bitcoin hashes from the litecoin hashes. What is unique about bitcoin, to such an extent that discussion of crypto should be limited to bitcoin?

Nothing. It’s a bunch of numbers on the internet. Monetary collapse happens and it will be as worthless as dollars.

>>28690005
>>28690204
>>28693248
>>28696250
>>28695861
>>28697122
too long, didn't read

people need to stop writing fucking essays on 4chan lmao

>>28699666
The digits of truth!

lust provoking image
irelevent time wasting question

>>28699666
i dont think you know what bitcoin is.

nice trips of the beast, jew

>>28700725
>a distributed database of digital tulips
next?

>>28699666
>these are the people giving you fud on /biz/

kek

>>28700576
>tells channers how to post
>reddit spacing

>>28701241
what exactly did I say that is wrong? there aren't 5,000,000 exact copy forks of bitcoin? what makes them fundamentally different? where is your computer science masters degree?

>>28701331
lmao, hahhahahaha, this guy.

the quality of fuds get worse and worse every year

i think its because each year a new set of lower IQ'd people fud it, as the previous bracket bought in the year before, so every year the arguments against it only become lower and lower IQ

>>28701331
>there aren't 5,000,000 exact copy forks of bitcoin? what makes them fundamentally different?
Go ahead and ctrl+c ctrl+v your bitcoins then. You'll be a billionaire within a few hours.

>>28699444
>people will be bartering instantly FOR (not with) gold
People were selling everything they had FOR gold
>panicking to get gold
They were willing to pay 10x the value of gold to get their hands on some.
You're genuinely retarded, son.

>>28701517
>all this projection while making literally 0 arguments
>reddit spacing
go back

>>28701638
>what is litecoin

>>28700576
you are the physical embodiment of the brainlet meme generation

Nobody buys gold anon, I'll take it off your hands (;

>>28701659
>People were selling everything they had FOR gold
Rich kikes were. For the sole purpose of putting it all in a wagon and running across the border with it to sell at a loss.
>They were willing to pay 10x the value of gold to get their hands on some.
If you want to hold gold because you think Jeff Bezos is gonna show up on your doorstep offering you his entire fortune for it after General Secretary Biden announces he's going to nationalize Amazon, then good for you, but that's not the situation we're talking about.
>people will be bartering instantly FOR (not with) gold
Again, learn to read, because the context of that quote is that the gold being bartered FOR will later be used to barter WITH for supplies. STFU if youre not gonna even understand what we're talking about before making your abhorrent posts.

>>28701331
shining example of a reverse FUD. he’s actually trying to convince you into coins to dissuade you from physical metals

>>28701659
ty 4 tryin

Crypto is very good in a peaceful fall of the dollar that leaves other infrastructure and trade intact.
But that's the same scenario where stocks will do ok. So if you have a lot of stocks, crypto doesn't really diversify your risk.

Physical gold is forever. It might lose some of its value, but if shtf it'll be better than fiat and stocks. So it's good to diversify.

Paper gold is iffy, not because JPM won't come through, but because your government will most likely confiscate it when shtf.
Still better than fiat.

>>28702339
You still haven't addressed Venezuela, anon.
A contemporary example of precious metals being used illegally as currency to buy food and supplies on the black market to directly combat hyperinflation.
Also it was not just wealthy people trying to get gold, but the wealthy could afford to pay the absurd prices that gold rose to during that crisis.
If you want to ignore the value of precious metals as currency and as a hedge against inflation, then I can't help your stupidity.

>>28690376
>tfw you are right and right, again and again and people still don't believe you cause they are so high on bubble, drunk as fuck with inflated bs

>>28689007
gonna be hilarious when BCH overtakes BTC

>>28698938
>>28703127
>Venezuela has a black market in which food and supplies are (illegally) purchased using silver and gold
Im sure the smugglers would just as happily accept USD or Euros for their goods, as is the case with every country where the currency is almost worthless (ex. DPRK, Cuba, etc.)
>to directly combat hyperinflation.
The appreciation rate of gold doesnt even match inflation, so if you're worried about your fiat losing value, you're better off investing it in stocks, bonds, foreign currencies, or real estate.
>it was not just wealthy people trying to get gold, but the wealthy could afford to pay the absurd prices that gold rose to during that crisis
Im sure every moderately wealthy person that was fleeing the country wanted their wealth in a way that was easily transportable, but that doesnt change the fact that it was a small group of people that wanted it for a very specific (one time) purpose. It was not going to be used as currency and the average person didnt need it to survive.
>If you want to ignore the value of precious metals as currency and as a hedge against inflation
There are better forms of currency and better hedges against inflation available than bars of metal.

>>28689290
>4 month

Have you even seen a graph of the last year?

>>28689007
This thread is retarded. Anyone that doesnt hold both PMs and BTC us begging to be assfucked by the jews.

PM is the past hedge store of value. So you buy this on the chance that boomers decide to actually save this ship and go back to sound money.

BTC is the digital store of value of the future if the boomers and the jews refuse to capitulate and would rather let the fiat system crash and burn to depopulate a little bit.

Its really this simple. Stop playing one side or the other. The enemy is the fiat system. Any alternative to it should be welcomed and entertained.

Play the jew on both sides since they themselves play both sides. You niggers are retarded as fuck.