/biz/ - Business & Finance

This anon gets it....all these retards think gold will just all of a sudden stop being valuable after many thousands of years

>muh EMP
>muh solar flare
If I owned gold, I would sell it, not send it to you, brainlet.

>>6785881
It will stop being valuable in the coming hundred years. Asteroids are filled with precious metals. 1 Asteroid contains more than we have mined so far on Earth, so when we get there the price of gold will absolutely plummet as the supply skyrockets.

You're the dumbest of all.

Likely some other metal or physical object will replace gold.

And btw I can ask the same thing, what if a nuke falls on fort knox? There goes ya gold...

And don't say; but theres more gold than only fort knox.

Yes and there are more places to EMP besides Central America, fat faggots think the world revolves around them

>>6785980
ok so you admit gold has value then, your not included in the people my post was directed at

>>6785710
>give me your wealth in gold
No? I would sell my gold for other shit dumb fuck.

>intrinsic value
The only value it has is the cost price of mining it which is close to nothing because they use Jamals and pay them 0.01$ an hour.

>>6786149
>not aware of supply and demand
if a nuke falls on fort knox, there goes a huge percentage of the gold supply up in smoke, and then the value will increase tremendously....

>>6786209
And if an EMP drops on USA then there goes a huge amount of Bitcoin, with the same logic BTC price should go up

>>6786209
very likely scenario, lol

>>6786151
He did not say gold had value, he said he knows other people believe gold has value so he can sell his gold to said people. This does not mean he believes gold has any value. If you find some nutjob who would pay 1,000,000$ for a pile of dirt this does not mean dirt has a high value. I means that crazy fuck is willing to pay for it.

OP is absolutely insane if the thinks the entire internet can get shutdown.. owyeah and there's still a thing called MeshNet.. people could just keep trading and exchanging BTC P2P untill it geos back on again


Fucking brainlet gtfo of this board.

>>6786230
t. brainlet


what good is the increase in price of bitcoin if you dont even have internet to use it

>>6786209
Are you retarded, just because something is scarce does not mean it would be expensive. Precious metal markets are purely speculative. As is cryptocurrency. There is literally no difference between BTC and Gold in terms of how you can value it. As a matter of fact BTC fulfills the purpose better then Gold can.

>>6786355
>>6786341
Read my previous statement I'm way ahead of you

>>6786341
what good is mesh net if you phones and small electronics have been completely fried

>>6786414
your not ahead of anything, besides being more retarded that 99% of this board...fuck off pajeet

>>6786476
Yeah alright suppose you got me there.

Still though, you're assuming a complete worldwide shutdown which won't happen. I don't think this EMP nonsense is a good argument since here are more places in the world besides Central America

In the same logic you propose on fort knox getting nuked increasing the price BTC price should skyrocket on an EMP. Same shit different jacket.

>>6786561
why do you keep mentioning central america, im not Venezuelan

>>6785710

>Not investing in based Cu bullion.


You're a goddamned nigger that hates sick gains.

Gold has value as a material.
Who said gold has no value?

>>6785710
Post you holding a bar of gold with time stamp, then. Show us how prepared you are for the EMP, you LARPing Call of Duty faggot.

Only the biggest of retards would "invest" into gold. It's priced 10x - 20x its real utility value, the rest is idiotic speculation

It's funny how these people are the ones against crypto. Yeah, crypto is going to shit, but at least as an investment it had utility to the user and actually gave people positive returns.

>>6787371
gold thread last night people were strait shitting on gold saying with crypto gold will become obsolete, and ive heard the same shit 1000 times on here, i just dont personally think that it will ever become totally worthless no matter what, look at pajeets for example they wear more gold jewelry than any other race and they are 1 billion strong and growing, and the more gains those fuckers make in crypto the more gold rings and necklaces they are gonna buy to show their status of to the other street shitters

>>6787504
Not larping you fag

>>6787990
Literally nobody under 30 gives a shit about gold. It's another metal, but a heavily overvalued one. It's been bleeding for years. It always goes down when a recession happens. Who the fuck would consider it an intelligent investment?

>>6788170
im 26 dip shit, and have 7k portfolio and and starting to stack PMs a little bit as well...sorry you lads are not gonna make it

>>6788162
Good luck selling that when an economic crisis happens. I'm sure people will line up with their food budget to buy those off you.

Gz for delivering though

>>6788228
Let's just say that I made a lot more in crypto than that. I pulled out today since it seems to be turning into a shitshow, but I had a good run. 15x after taxes in a year.

>>6786209
>He thinks there's still gold in Fort Knox

It's been empty for at least a century

>>6788287
why are you pulling out of crypto, i thought it was replacing gold, why would you pull out then?

>>6788359
>>6788287
dont get me wrong, congrats on 15xing your money thats legit, i just dont think crypto and gold are the same niche, there will always be some sort of demand for PM is all im saying, we are not gonna reach a point when people are just chucking their gold and silver out into the street because its become so worthless like some people on this board like the believe is going to happen

Ok. Gib me your mailing address OP. I will send you some gold.

>>6788359
Because people are clearly losing faith in it. Which means the bear market will continue. And I've been losing faith in it because I've understood that the banks and governments will never allow it, they'll adopt it and outdo it, while extinguishing the current cryptos. MasterCard is developing their own crypto, something like that is what banks will be using, and what banks use, everybody else uses too. People don't want freedom in the end, and I'm not going down with the ship because of ideals.

>>6788539
Well, I have nothing against gold per se and think it's valuable and looks nice, but it's also a shitty investment. Don't get me wrong, the stuff you just posted looks super nice, but from the monetary perspective, I wouldn't buy it.

>>6785710
>project is literally billions of years old
>still no whitepaper or commits on github

It's a shitcoin.

>>6788539
Oh and also you're right that gold WILL always have significant value. But it can drop like a whole lot
http://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

>>6786149
It's much more likely we find a giant diamond asteroid or planet than one made of gold.
Gold investment are safe. gold been valuable way before egypt era

>>6786230
>And if an EMP drops on USA then there goes a huge amount of Bitcoin
>he actually thinks this
What the fuck is blockchain?!

Gold will always have a price as long as we have electronics and stupid niggers with jewlery.

>>6786149
Jesus fucking christ you're a retard. Asteroids? How about gold in your hemorrhoids while we are at it (yes there's small traces of gold atoms in human cells).

>>6788639
>private blockchains
>having any use case vs open blockchains
Never going to make it.

EMP drops. Food and water more valuable.

Remember cpt almost out of water.

>>6788927
Does that mean all the gold has come from millions and millions of dead bodies over millions of years?

>>6789034
They actually do. Imagine all banks forming their own distributed ledger. It would allow fast global transactions between any banks in the world. Since banks hold people's money anyway, the banks can simply implement this and essentially obsolete all of our cryptos. The banks would act as the intermediary between you and their ledger, but essentially you get the auditability, cheapness and speed advantages, while also getting the privacy and security advantages of banks.

>>6786149
That makes no sense. There's also much more gold here on earth already. The problem is it's actually expensive to dig it up. Getting it from an asteroid would be infinitely more expensive. Not that I think gold will keep its value that far into the future, but if it doesn't it will obviously be for different reasons. Gold is kinda special in that it is sort of semi-fiat though, getting a limited backing from official institutions, so it's not a pure bubble like crypto.

>>6785710
Lots of things are scarce, gold has value b/c history of association with luxury and b/c it's a pretty shiny metal. Post modern aesthetics reject that and once the current generation assume leadership roles it will drop like crazy.

>>6789264
>distributed
That isn't how private chains work. It's entirely centralized. Banks are making these and they'll be useful for the banks as they'll make more profit, noting attractive about them to anyone on the outside. Banks are finished. I'm not bailing these faggots out again and fuck the FED and it's authoritarian control over the ENTIRE market. I'll gas these fucking kikes myself.

So when's the asteroid full of gold supposed to come? Hope it lands on top of Israel or Africa.

>>6789372
> history of association with luxury and b/c it's a pretty shiny metal
People understand gold is often used in electronics, right? Also, unlike most other metals used for anything it never rusts. You can throw a piece of gold in the ocian and in 100 years it will still be there.

I can see how it's overvalued and exploited by conman, but I will never understand anyone would say humans only value precious metals because they're "rare and shiny". Are people retarded?

>>6788162
>posts about gold
>gets called out
>posts pics of less than a grand worth of silver for some reason
>shitty gold chain of unspecified karat
>”my stack”
I’m embarrassed for you, OP. LARP confirmed.

>>6785710
Fine. I'll sell you my gold.


Which cryptocurrency will you be paying me for it?

>>6789427
No, it's not. I imagine there will be some sort of consortium of banks that decides on the banks to accept into the network. These banks get added to the node lists of other banks, and they gain rights to issue transactions and validate other transactions. You now have a network that can process cross-border transactions between any 2 banks in mere seconds. The transactions inside banks will be processed in the regular way, instantly again.

I love the ideals, but come on. What do the normies use? They have their banks, that's the place where they put their money, their fiat, into. The one currency that everybody really respects and values. Do you think they want to risk the crypto volatility when their banks give them the same shit, except just more 1984?

Crypto has problematic privacy (privacy slows it down), problematic security (anybody who doesn't own a Ledger can lose their private key easily to hackers) and problematic governance (transactions can't be rolled back, no matter what)

>>6789713
No fiat (which is what a banks block chain will be based on) is full retard and nobody wants that shit. Banking solutions already exist for idiots who cannot into self ownership. Just use Coinbase or others like it. That said crypto still does have a way to go before it's idiot proof like, just like the internet. So we're still early on user friendliness and adoption, but these solutions will come.

>>6785710
>EMP
That's why in the future the internet will be on a blockchain so you can't shut it down.

Do you understand how old you sound?

DO you think in 100 years an old metal will be worth near what it is today? please

>>6789443
There should be a flag in it by 2035. We should be mining it in the 2050s. I recommend reading about it. It would cost about a trillion in today's value to roll the prototypes and do the research + engineering. It's a fuckton of money but just one of the asteroids we've looked at is something like 10,000 quadrillion in metal @ 3% rock. It's stupid.

Step zero is to get space planes working so that launching is way less expensive.

First step is to put a self-knitting sail in orbit then move it to gradually slow down and clean up the debris. A space elevator should be built too if we can figure out how the fuck to braid graphene at the quality needed to tether an orbital structure to something floating in a body of water.

Step Two is to send drones to asteroids like 16-Psyche and stake them.

Step Three is to get drones on asteroids and assemble electric powered mass drivers.

Step Four is to fire metal back to either the moon or an orbital network (remember the self-repairing sails?) and send them down the space elevator.


There is no metal scarcity by the 2060s. We'll be depending on shit like tokenizing ownership of good real estate, arable land and bodies of drinkable water. People trying to secure empires are flailing right now.

>>6790121
Thing is, the banks could already transfer anything. But why would they? They could allow trading random tokens, but would people find them valuable? All these cryptos are essentially just different tokens that happen to move in their own networks. Imagine if the banks introduced a token named BTC which they promise not to inflate or tamper with. Would people flock into it? If they would, then why wouldn't the banks do this? Perhaps because their governments don't allow it? That means that in the end the govts will neither allow cryptos.

>>6790327
>>6790121
What we've created with crypto here is basically our own monopoly money in a sense, except that it's digital. But think about it, is that enough to make people stick with them in the end if banks make fiat competitive?

>>6790327
>we promise not to fuck you and your nation over
>every bank ever

It's like XRP. Centralized consensus makes the rules not really matter. There is absolutely nothing attractive about centralized blockchains, except for retards who don't understand how money works.

>>6785710
Of course gold is valuable. We need it to make efficient microchips. Which we'll use to mine crypto.

>>6790460
There's the more efficient cross-border transactions. Other than that, we already trust our banks. That's just it. They control fiat, everybody wants fiat. The banks can limit fiat flow into crypto and they can adopt the advantages, except the ownership problem. But it doesn't matter, because in the end people don't care.

And banks will fight for it. We haven't even seen it yet. They WILL fuck us up with all the power they have.

>>6791062
Banks are shit, fiat is shit. The value of smart crypto running on a network of silicon and electricity is infinitely more valuable then what the banks will copy and try to change. Crypto is based of its computational function, something that can be improved and copied but not destroyed. And whoever has the best computational function will win. Banks can’t do shit unless they are curve or replicate the same function that’s gonna happen anyways.

>>6791062
People who actually trust banks are going to remain poor. Next crash and QE will drive crypto even higher. Banks or governments preventing crypto adoption will be met with revolt under this kind of circumstance. People have short memories, that literally 10 years ago they were fucking robbed to pay for billionaires. Crypto is mainstream now, the stock market is way over extended. Next crash the conversation will be different, MSM isn't mainstream anymore like it was 10 years ago. (((Their))) days are numbered.

>>6791581
God i hope you're right

>>6791668
He isn't. A bunch of stupid fucking 1s and 0s isn't going to make you rich you little twat.

If you weren't in the crypto market 2 years ago, or at the very least 1 year ago, you aren't going to make it. This entire crypto fad is on its last leg.

I can tell by your posting style you’re the same stupid Miami fucker who was asking how to budget on 30k but refusing to pay less than 300 for your car

>>6791915
1 and 0’s DATA is gonna be more valuable then gold you Mongoloid twat. And theres fucking nothing you can do to stop turinig complete machines showing you up in everyway. All you can do is fud and bitch like a monkey you are

>>6791915
[Judaism Intensifies]

>>6792127
>being this deluded.

>>6792227
>being this much of a Luddite

>>6790250
Good luck trying to use that net catching things going thousands mph. Would be cool though!

>>6786149
(((They))) would just stockpile the gold somewhere and introduce it into the market little by little. Like (((they))) are currently doing with diamonds.

>>6788358
>It's been empty for at least a century

Maybe you're on to something...

Here's another question: how is crypto valuable? I still don't understand how strings of useless code are valuable? I don't understand how cryptocurrencies work and it seems like a big scam to be. Any explanation of how they work consists of technobabble that people who aren't programmers won't understand and the way these shitcoins are shilled on here nonstop just reinforces the appearance of a pyramid scheme.

Ha! You think <asset you can get money for on the free market> is worhtless huh? Send it to me instead of selling it on the free market and receive money for it! Checkmate, <person who is not enthusiastic about asset>!

t. reddit

>>6792674
How is paper currency valuable? It's just paper with dead guys printed on it.

>>6792753
The only way shitcoins have any value at all is that they can be converted into fiat currency though. But what makes a shitcoin worth $1000+ dollars? It's just strings of meaningless gibberish.

>>6789618
gotta start some where you fag

>>6786230
If the USA is nuked to hell the entire network fucking collapses because most of the traffic is routed through it.
Don't also forget that the internet operates purely on trust at the highest level and any entity with lots of adjacencies can poison the entire world's BGP table.

>>6790223
im not saying the actual internet will be shut down, but my point is if all your electronics are fried and you have no access to a blockchain based interenet as a result then how are you going to access your cryptos

>>6786149

Yeah, ok.

The cost of mining in fucking space versus leaving your computer on.
Ok.

>>6793150
In that kind of catastrophic scenario an investment in non-perishable food, medical supplies, bullets, cigarettes, alcohol, and an off grid self-sufficient location will go way fuck further than gold.

>>6785710
Aight whats your address then? I'll send

>>6785710
there's too much focus on gold, I think that a global trade currency based on a basket of importants commodities, real resources on which cililization relies upon (gold included) as the one proposed in someone's whitepaper called Terra TRC

If the government tanks, then it will need gold to pay back china and any other country who bought our debt. They are looking to back their currency with gold. We will need gold to get basic nessasity to travel or pay back loans owed to the government. I would not be surprised if the government siezed all gold operations and profits before selling chunks of government land to china.

>>6785710
Fucking Christ
You don't understand crypto if you're comparing it with gold.

Btc is LIKE gold. It can store wealth and value.

But btc is alpha phase of all cryptos. Also btc can morph into any of the new currencies or projects, but doesn't have to.

Also, I can pay 10 million in btc to anyone on earth because of the trustless system in literally seconds for pennies (muh high fees) if btc network wasn't under spam attack we would have pennies for transactions.

How about you pay someone 10 million in gold for anything or try to fraction off your gold bar to pay for gasoline.
OP
Ur
A
Faggot

>>6794029
i hope we forfeit our debt and tell china to fuck off before we ever sell any of our land to them...honestly fuck that we start a new government before that...but even if you look back in the great depression the US goverment confiscated all the citizens gold, so whats stopping them from trying to do it again...unfortunately i lost everything in a tragic boating accident on lake tahoe

>>6794381
you didnt read through the thread where i said bitcoin is not in the same niche as gold, and one doesnt have to replace the other, you also missed the point where we talked about the value of gold over crypto really comes into play in situations where access to internet technology is not available....

>>6794518
Don't make trigger threads
Fucking TRIGGERED over here.

Also if value in the nuclear apocalypse is important to you

Medicine
Food
Water
Shelter
Fire
GUNS

In that order

>>6794806
regardless gold would still come before crypto on that list, people are still gonna be weighing their options hoping that the apocolypse wont last forever and if they have enough extra resources then selling for gold or silver would help them get into a position to have more value once things start returning to back to normal. if someone has all those items completely taken care of to the point of surplus then they would start trading for gold and other precious metals. quit getting triggered snow flake.

>OP posts actual home address
>people actually send him hundreds of thousands of dollars in gold
>his newly acquired gold AND his home address is now public knowledge to be sold on the dark web
>gets robbed and raped at gunpoint next day

Enjoy your gold

>>6785710
>what if an emp destroys modern society?
well your gold aint gonna do anything to help you in that case son except you wanna hit yourself on your head with it to commit sodoku

The thing is, gold is going to start losing value over time. People are starting to get more and more interested in things like sex dolls and virtual reality. Gold is for giving gold jewelry to a real women. Do you think some guy who is having sex in the virtual reality and never, ever plans to have a real gf will give a shit about gold/jewelry? Real women are going to go down in value in the coming years, as will gold. Virtual/crypto gold is the future.

>>6794987
>people send me all their gold
>i get rick because gold still holds significant value
>i buy new house, new car, change name and start new life as a rich man
>sitting on a beach at 30 already retired
thanks everybody

>>6795065
thing is, people worrying about sex dolls and virtual sex are not gonna make it in the end

>>6787371
7% of the gold in circulation is used for the industry
gold has value yes but it is 7% of the current price

and only until it is phased out for a better material which could happen the next few years then the value is officially 0

>>6795175

>then the value is officially 0

hahahahahahah your the exact fag i made this thread for.

>>6794987
meanwhile op in bizarro world asks bizarro biz goldbugs to send him all their bitcoin to his wallet as they smugly dismiss bitcoins intrinsic value

>op gets rich due to anons sending him all the bitcoins
>doesnt even need to change his name as its all anonymouse
>living comfortably his new-old life with his newfound wealth

>>6795297
so tell me then when a mere 7% of the gold value is actual utility how is the 93% called then?

what? do i hear speculation? DING DING MOTHERFUCKER!

gold is in a huge bubble

>>6795357
This. Gold....only has value, as long as people want it. People are going to be less interested in gold and more interested in VR/virtual gold (bitcoin) as years pass.

>>6786149
He thinks there is actually gold behind the sealed vault door in fort knox...

for all the goldbugs here who call bitcoin a bubble pic related

look at that huge ass inflated gold "market" all existing on 93% speculation and 7% utility wow!

but sure gold is a great investment.. for the mentally unfit

Someone explain to me why OP wants gold from Cryptoinvestors?

WHY WOULD THEY HAVE ANY GOLD?

>>6785710
If there's an "emp" and the entire world cannot produce electrical power guess what? I won't be strapped up and headed to cryptofag houses, I'm coming right to yours.

>>6785710
The people that actually own gold don't say gold is useless. I'm not fucking giving you my gold you fag.

>>6795891
In that situation I would say it is. Unless you're going to be trading all your gold for useful things when OPs hypothetical hits

>>6795741
alternatively, some guy halfway across the world, gets your private key in a phishing scam because you were to dumb to see you misspelled myetherwallet when you were going to check your balance and steals all your coins and thats it, but you trying and come to my house in a collapse and wont get far once you put one foot on my driveway

>>6796514
Your gold isn't gonna save shit. Neither is come cryptofags wallet. I don't have to say much to get many people you've never even met want to grab your shiny shit, this is a reality not a challenge to "if ur prepped or not xdxdxd"

>>6796624
the thing is though, when you live in a close and tight knit community where everybody looks after eachother, no random strangers are gonna get close to anything with out being confronted by a couple dozen vigilante neighborhood watchmen

>>6796624
>>6796920
your missing the point tho, the only reason you could get people to try and rob somebody who has gold or any other precious metal is because it still retains its value that would cause people to want to acquire it in the first place, you you told a bunch of people to go break in and steal the pass phrase for a digital crypto wallet in a period of time when cryptos are useless they would probably tell you to fuck off and not waste their time

>>6797056
Yeah those dumb nogs sure know how to invest. Next you're gonna say diamonds.

>>6797056
Tyrone sure is gonna look good with all that bling on his corpse

>>6796920
Greed's a funny thing man. He's your friend till he gets a cut for helping or insider information

>>6785710
you are a fucking idiot. Why would anyone give anything away that other people see as valuable even if the person holding it thinks its worthless?

If someone happened to have bought a laptop with 100 bitcoin and thought crypto was bullshit, they wouldnt give it away they would sell it.

You are begging for free stuff because you are poor and clueless.

>>6797753
im not begging you retard, it was just an anology to prove my point, nobody would every just give away gold for free because it has value

>>6797503
>>6797291
did someone lose their retarded autisitic teenager? anybody? this kid is running on the loose not making any sense, whos kid is this?

>>6797898
Trying to say that in that situation the people who value your currency will be nigs who want to bring. That's the motive for the raid. Please do tell what you would be doing in that time with that hold? Holding it?

>>6797898
It might be of VALUE but to who? What fucking exchange are you going to? Who are you attracting in times of crisis? Guns ammo water meds anything slightly more useful than gold.

>>6798130
you need a good night rest pajeet, you are rambling again... your bed is calling, its almost 830 an hour past your bed time

>>6798403
Meme it up faggot