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If BitCoin is a currency, why is everyone obsessed by how many $$$ one is worth? Shouldn't a currency stand on its own, based on the goods you can exchange for it? If it's only reason to exist is its relationship to the $$$, then it isn't a currency, it's just another tulip bulb.
You morons don't understand the basic primary function of money is..... to measure value for goods exchanged for it. Gold has measured value perfectly for thousands of years.Bitcorns don't measure shit
If dollar is a currency, why is everyone obsessed by how much gold one is worth? Shouldn't a currency stand on its own, based on the goods you can exchange for it? If it's only reason to exist is its relationship to the gold. then it isn't a currency, it's just another tulip bulb.
thats the problem with /biz/boisthey dont wont crypto they only want quick sheckels
fuck off you annoying faggot
>>12056330just go cuddle with your shiny rocks and leave investments to us gramps
You morons don't understand the basic primary function of money is..... to measure value for goods exchanged for it. Bitcoin has measured value perfectly for 10 years. Gold doesn't measure shit
>>12056339bitcone moongoldstone dedactually you will have good week for gold, next week, that will be the literal ATH for the next 15 years
No one gives a shit, most people trade btc to make money, not because it’s backed by anything or a store of value
>>12056330>As he measures his gold in dollarsWhat did he mean by this?
>>12056356>>12056339you guys are both retards. The primary function of money is to use it to buy and sell stuff. If you want to increase your value you invest in stuff not hold it in currency
>>12056342Dollar value of gold does not matter at all moron. The entire point of buying gold is because fiat is a scam and you want money and wealth for when hyperinflation happens.If the dollar dissapeared from planet earth tomorrow my gold would be completely unaffected. You understand this right?
>>12056374No dumbass the primary function of money is to measure value of goods! That's why gold is money to buy things! Because it measures value perfectly!
>>12056591>No dumbass the primary function of money is to measure value of goods!no retard, the whole purpose of money is to use it to buy and sell stuff. Money are not an investment, you aren't supposed to get value just by holding money
>>12056362Again, dollar value of gold doesn't matter. Gold is just money it isn't a stock. You don't want the price of gold to go up How dumb are you zoomers that you don't understand a stock is different Jan gold? Stocks go up when a company generates revenue and gold is money and is supposed to be stable, hence why it has been money for thousands of years.You fuckheads say btc is the new gold yet there was never a problem with gold. You are throwing your money in meme coins because the dollar is dying, unironically because it isn't backed by gold and can't make it anymore because it isn't backed by gold
>>12056630The only reason ancient people used rocks for trade is because they were hard to counterfeit and lasted long. Now that we have computers and scanners these shiny rocks are useless as money
>>12056624ANd why can you buy and sell stuff using it? BecAuse that money measures value. A Lamborghini is 400k the cost is a measurement of value in dollars. If we all went to live in a beach and deemed that sand was money that wouldn't work to well now would it?The dollar is a terrible measure of value because 100 years ago 20$ was a good weekly salary. But today that 20$ barely buys you lunch at a bar. That gold ounce equaled 20$ 100 years ago so a gold ounce equaled a good weekly salary 100 years ago and today a gold ounce still equals a good weekly salary since its fiat value is $1,250.Gold measured value perfectly for 100 years.
Goldbugs are so mentally ill.We know fiat is a scamConsider the following:"As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties:– boring grey in colour– not a good conductor of electricity– not particularly strong, but not ductile or easily malleable either– not useful for any practical or ornamental purposeand one special, magical property:– can be transported over a communications channelIf it somehow acquired any value at all for whatever reason, then anyone wanting to transfer wealth over a long distance could buy some, transmit it, and have the recipient sell it.Maybe it could get an initial value circularly as you’ve suggested, by people foreseeing its potential usefulness for exchange. (I would definitely want some) Maybe collectors, any random reason could spark it." - Satoshi Nakamoto
>>12056649Dumbass zoomer: Do you even understand that it is gold that gave value to the dollar?As in...... the dollar REPRESENTED gold!And ever since going off the gold standard we have had massive inflation to the point where you faggots are literally throwing your net worth in internet coins BECAUSE it's impossible to make it anymore now that we are off a gold standard. 60 years ago you could drive a bus full of retarded kids to grade school as a career and you could easily have the wife at home raising your 3-4 kids.That isn't possible anymore when off a gold standard. Your investing in shitcoins BECAUSE the dollar is dying because it isn't backed by gold. How do you morons not understand this basic logic when I'm spoonfeeding it to you?
>>12056330Also the government can and will take your gold like they've done in the past (FDR 1933). You aren't safe just because you have gold.
>>12056680Yeah fiat or dollars are a scam because gold doesn't back it anymore. That's literally it. So there's no problem with gold, there's a problem with dollars because it isn't backed by gold.Do you think it is just magic that "income inequality" had become a top 3 issue?Under a gold standard the term "income inequality" didn't even exist
>>12056693Nobody confiscated gold in 1933. Some faggots turned it in. And if they did come for it which they won't.... there's something called the 2nd amendment.Also... you literally just made the best argument for owning gold in this entire thread. If gold wasn't valuable as fuck then why would anyone want to confiscate it?
>>12056659>>12056684Get it through your thick skull grandpa, shiny rocks are useless for money. Their only value comes from tech industries little demand, if it wasn't for that those shiny rocks would be as worthless as other shiny pebbles
gold did well this week. lets hope it follows through. once we break 1366 the jr gold miners are going to act like altcoins and 10x - 100x. these idiots have no idea what the JR Gold miners are capable. the entire crypto market was designed to imitate gold and jr miners but at fast forward (5x speed). crypto is a scam. the NSA has a sha-256 collision which allows them to fake the entire bitmain hashrate from a 1996 laptop with an internet connectio. chinese intelligence sells those stupid miners to zoomers. this is just another racket intelligence agencies run just like drugs and guns.
>>12056728So if you had inside info that hyperinflation would hit in one month... you wouldn't convert any dollars to gold? Please tell me your not this dumb
what these zoomers fail to realize is that the entities suppressing gold are eventually going to GO LONG and pump precious metals into the mother of all bubbles as the dollar implodes. the yuan is going 1 to 1 with the american dollar and oil is going to 400....gold is going to 10k at least. Imagine the prices of the jr miners with 10k gold.
>>12056788What miners do you own?
do any of you idiots realize we literally had Federal reserve OPERATION TWIST (named after chubby checker song) in 1961......then again in 2011??? so that would make 2018 = 1968.....do you fools realize what is coming???
Asteroid mining will make gold as cheap as aluminum.
>>12056752we gonna fork instantly and continue from the last valid non attacked blockcrypto won, you are done
>>12056630There are a lot of problems with gold. Its heavy, hard to conceal, hard to transport across borders, hard to divide, and can be seized or stolen. Bitcoin has none of those problems
>>12056753Nice try moving the goalpost retard. Hyperinflation is something extremely rare that would only happen in a global meltdown or WW3 or if you live in a 3rd world shithole. Your original argument is about gold being good as money in general not being good investment when there is a global meltdown. When the meltdown happens gasoline will skyrocket in price too that doesn't mean I am gonna stack up on gasoline just in case there is a global meltdown
>>12056800all the ones paulson owns that aren't in south africa (south africa is going to INTENTIONALLY COLLAPSE which is part of their plan to cause a panic). THM (he owns 2/3 of this one so ive got A LOT ON THIS ON), TMQ (trilogy metals), NG...I also own new age metals because once south africa implodes platinum production is going to drop 75%...I also bought jaguar mining in brazil based on my observations of the buying patterns of some freemasons. the more masonic the name the better. Tower of babel....
>>12056823goldmoney.comOperation Twist (1961)The Federal Open Market Committee action known as Operation Twist (named for the twist dance craze of the time) began in 1961. The intent was to flatten the yield curve in order to promote capital inflows and strengthen the dollar. The Fed utilized open market operations to shorten the maturity of public debt in the open market. It performs the 'twist' by selling some of the short term debt (with three years or less to maturity) it purchased as part of the quantitative easing policy back into the market and using the money received from this to buy longer term government debt. Although this action was marginally successful in reducing the spread between long-term maturities and short-term maturities, Vincent Reinhart and others have suggested it did not continue for a sufficient period of time to be effective. Despite being considered a failure since a 1966 near-term analysis by Franco Modigliani and Richard Sutch, the action has subsequently been reexamined and in a 2011 paper economist Eric Swanson of the Federal Reserve Bank of San Francisco has suggested that "Operation Twist" was more effective than originally thought. Swanson suggested similar action as an alternative to quantitative easing by central banks; the FOMC did in fact take an analogous action in 2011.
the 6 day war, opec oil embargo, yom kippur war, iran revolution were ALL CIA psyops to create SURPRISE INFLATION. the SURPRISE is key for FINANCIAL REPRESSION. what is financial repression?https://youtu.be/PAq6QgW1tZo
read this academic paper and look at the options....usa definitely likes to use SURPRISE inflationhttps://heinonline.org/HOL/LandingPage?handle=hein.journals/intlr104&div=47&id=&page=
>>12056823Except bitcoin can go to zero. Gold can't. It's stored economic energy
>>12056330I collect Pokemon trading cards, the only REAL and trusted store of value. Checkmate faggot
who's ready for "the great inflation" 2.0???
>>12056915>It's stored economic energythats the dumbest thing I've heard so far. Please stop posting you are embarrassing yourself
>>12056330Don’t you understand why everyone here is concerned with sats? Don’t you understand why own 21 btc is the #. Gold is hard to store and heavy to transport. Bitcoin will win out. It still has 100x in it too but will you be too lazy to learn why?
>>12056840And gasoline will skyrocket in price because the dollar will be imploding dumbass. Do you understand cost of living going up means the dollar is becoming more worthless.No, gold isn't an investment at all. Gold is money. When the dollar shits the bed.... you'll have a gold revaluation. You wake up one morning and gold is 50k per ounce to purge all the debt from the system then you have a deflationary collapse of all asset prices. So your home that's 200k now is worth 50k after the collapse. Then your 1 ounce of gold (converted to the new currency, probably some crypto) buys you a home outright. That's how it works.We are 21 trillion dollars in debt, everyone is getting poorer. And you think the dollar is going to be the king forever and ever. So fucking stupid
America got A LOT POORER from 1968 to 1980. before the "great inflation" a man could get a job out of high school and support his entire family and have a vacation home too! after the "great inflation" women were forced to enter the workplace because WE GOT POORER....they disguised this as "women's liberation"....."great inflation 2.0" is going to make us 3rd world. if you dont have mining stocks and gold you are about to miss out on the biggest wealth transfer in human history.
>>12056840You zoomers are EXACTLY like feminists. Women today are the first group of women in history that desire to have the right to kill their own child in the womb.You zoomers are just like these feminist dumbasses in that you are the first generation to be anti gold in world history. You think you are so edgy and high IQ except your literally the dumbest fucking generation in history.And it's actually more than just zoomers. Boomers are just as anti gold as zoomers. The entire western world is anti gold. It's brainwashing.. it's a sickness
>>12056957you are fucking retarded m8. People were much poorer back when they had the gold standard. Deflation is much worse than inflation, when there is deflation everyones salary gets smaller and smaller. It doesn't matter if stuff are cheap when your income is getting smaller, you will be even more poor and have no money left to save
gold ownership was illegal until 1975 which only allowed americans to participate in the blow off top of the gold bubble. the best time to get in was 1968 before the london gold pool collapsed. people that are long gold now are like the people who bought gold for $35 an ounce in 1968.
>>12056935That's what it is stupid..... how the fuck do you think gold is valuable? It's valuable because of the ENERGY used to extract it out of the ground!Gold is stored economic energy and a store of wealth. All your shitcoins..... stocks, bonds, real estate get their VALUE based on energy produced in the FUTURE. Gold gets its value from energy used in the PAST
>>12056957this is why I own BPT (pays amazing dividend but super risky but I dont care because I am certain that oil is going to skyrocket), CHK, NE
>>12056933learn the big mac index fucker
>>12057027>Gold is stored economic energy and a store of wealthno its not grandpa, its just a shiny rock, there a lot of them around, nothing special about the yellow one
>>1205700060 years ago min wage was $1.25 and gold was 35$/oz.So it took a min wage earner 1 week paycheck to purchase an ounce of gold.Today min wage is 9$ and gold is $1,250 so it takes a min wage earner today an entire month paycheck to purchase that same ounce of gold that it took a min wage earner 60 years ago to purchase with a week paycheck.People are much poorer today. The fucking middle class is decimated. Everyone's in debt. In the 50's and 60's the middle class was huge!There was no income inequality chants 60 years ago and today it's a top 3 issue.How stupid are you people are richer today? It's impossible to have even just 1 kid today. 60 years ago you could drive a bus and have the wife at home easily raising 3-4 kids.How stupid are you people?
>>12057057WHy is gold valuable tho? because of energy used in the PAST to get it.The value of your stocks and real estate rely on energy produced in the future. Gold gets its value from energy used in the past.
>>12057057who cares what you idiots think. you people cant be convinced until you feel the fire. FYI I made a lot of money on bitcoin and got into commodities in winter 2017. I realized the scam was over.
>>12056330>What is forex?
>>12056788boomer here, you'll be dead by then, its been supressed along with silver...maybe with the "golden bear run" or market crash it will be a good hedge...but are you prepared to wait another 10 - 20 years before it even comes close to the zoomer 20k btc price. btc has surpassed gold in price in a fraction of the time, even at all time lows its value is still higher, we are not in the "ye olde" age, it is information age, and information is valuable. things are hyper inflated because we need things done quicker, faster better (evolution), this old way of thinking doesn't work anymore, who cares if its a minera,l a tulip or avacodos w/e.
>>12057061buddy its about to get a WHOLE LOT WORSE
>>12056957learn the difference between cost inflation and price inflation
>>12057090im a millennial and its coming sooner than you think
>>12057074hey hey hey boomeryou already know you crypto is what you needyou are just bargaining with your programingjust do it
>>12057097inflation is an INCREASE IN THE MONEY SUPPLY you dumb cuck. the price level rise is symptom. WE JUMPED OFF THE SKYSCRAPER when we did QE....we just havent hit the ground yet. the prices will rise its already in the pipeline....
>>12057085no you didn't >>12057074>The value of your stocks and real estate rely on energy produced in the future.no they don't>>12057061and why would they spend their salary on gold? people needed to buy food, clothes, cars etc not shiny rocks
>>12057090Yeah your maybe right.... it may take 10-20 years BUT it could also happen Monday morning.
>>12057119no its not you moron. learn the definition of inflation, its the increase in prices in a year. Increase in the money supply is just one of many factors that can increase inflation
>>12057161I see you brainlet don't have any arguments and just started posting memes
>>12057107on the same sentiment, everyone knows btc/gold/silver is a hedge...market crash is happening...and its going to be brutal.Pic related, gold/btc timelines
>>12057119sticky pricesconsumer expectationsmacro economicscommodities
>>12057133Do you fundamentally understand that they aren't spending their money on gold. All you are doing is transferring your wealth from worthless fiat to real money and a real store of value. That's all you are doing. Your becoming your own bank.You understand we are 21 trillion in debt right?The idea behind buying gold is that when fiat fails and prices collapse and gold is revalued you are the beneficiary of that seismic shift in value from worthless debt paper to sound money. Nobody buys gold at 1250$ to sell at 2,000$. Gold is just gold. It doesn't go up like a stock because of yearly revenues. Gold goes up in dollar price because the dollar is failing.A gold ounce 800 years ago is still that same ounce of gold today. Doesn't matter if the dollar exists or not. Do you understand something that simple?
>>12057169milton friedman was arguably the most renowned economist of the 20th century you dufus. he agrees with me.
>>12057133Do you fundamentally understand that gold does not get its value from the dollar existing?
>>12057187He was wrong. He convinced Reagan to not go back on the gold standard. Our founders were economic genisuses.
>>12057169The price level P is the price of goods in terms of money. Its inverse, 1/P is the price of money in terms of goods or the value of money. Like any other commodity the value of money (i.e., its price in terms of other things) is determined by the supply and demand for it. An expansion of the money supply, holding the demand for money constant, will cause the value of money to fall and the price level to rise. An expansion of the demand for money, holding the quantity constant will cause the value of money to rise and the price level to fall. All price level changes---and, hence, all inflations and deflations---can be analyzed within the framework of the demand and supply of money. For this reason, inflation is obviously a monetary phenomenon.It is probably reasonable to argue that Friedman, under the circumstances in which he made the statement, meant somewhat more than this. He also tended to argue that inflations of any significant magnitude and duration are always money supply phenomena in the sense that they are caused by excess monetary expansion---i.e., increases in the money supply relative to the normal growth of the demand for money that would result from growth of real income and the trend rate of change of velocity. While it is true that small inflations and deflations could be attributed to shifting trends in the demand for money, in every case where inflation has been a problem (that is, where there have been periods of substantial and persistent inflation) it can be attributed to excess expansion of the money supply. Of course, even if a movement in prices is the consequence of a shift in the demand for money, there is an adjustment of the supply of money that would have prevented it, but it is generally not possible for central banks to anticipate every shift of the demand for money so that they can offset it with appropriate adjustments of the money supply.
>>12057169It has frequently been argued during periods of inflation that the observed rise in the price level has been the result of greedy price setting by firms or greedy wage setting by unions. It turns out, however, that profit maximizing firms, even if they are monopolies and "control" prices, will have no incentive to raise their profit maximizing prices without a prior shock either to their costs or to the demand for their product. And unions that are following the preferences of their members will choose to exert an optimum degree of real wage pressure and absorb and optimum degree of loss of jobs as employers move up their negatively sloped demand curves for labour, and will have no incentive to increase their wage demands without bounds. Both firms and workers, of course, will raise their prices and wages in response to an increase in the nominal demand for output resulting from an expansion of the nominal money supply (or a reduction in the demand for money). Because firms and workers do not have an incentive to raise prices and wages beyond optimum levels, persistent inflation cannot be caused by the actions of unions and firms in the absence of excess expansion of the money supply by the central bank.
>>12057219yes he was "wrong' just like allen greenspan was wrong and now he's suddenly and ancap again...they are trying to destroy the united states. they know how economics really work but they are doing all of this intentionally.
ok but what about infinite lateral growth?
>>12057181https://www.youtube.com/watch?v=KcgA-hMAozII agree with your gold analogy, but you would be foolish into thinking that this is no different
>>12057172you are retarded. in 2008 gold crashed. in 2011-2013 at peak of EU crisis gold crashed even harder. Your shiny rock is useless and its price went up because it was just another bubble>>12057204are you too dumb to understand that gold price is based on the dollar and not the other way around?>>12057226>>12057240nice pastas retard. Inflation is primarily based on the goods and services in the market not the currency. Even if you have fixed supply currency you would still have inflationary periods. Regardless of all these, your whole premise is also based on the fact that inflation is bad, which is not. And no, having some inflation is not the same as hyperinflation
>>12057219jefferson was the greatest genius that ever livedhamilton was an idiot
>>12057277im happy people think this way because its going to make me rich. See ya in puerto rico!
>>12057277you missing the point, its been going down for so long and to think the reverse wont happen is naive
>>12057291Don't worry bucko, I will be there shorting your shiny rock bags when the time comes
>>12057226>assuming a closed economy>assuming consumers are price change tolerant>assuming inputs are finite>assuming no changes in market competition>assuming no technological change
>>12057240>ruins your oil price speculation graphs
>>12057226>ruins your finite commodity price projections
>>12057240>ruins your energy growth dependent economy shortage
gotta spend money to make money
>>12057395>hyperinflates your gold standard
how do digital goods work in a friedman economy?the supply is infinite so, prices should be close to 0 right?
just tell me how to protect my loved ones :(
>>12057448Assuming that there are no costs in producing or maintaining said digital goods and assuming the absence of ip protection, then yes.
>>12057061Yeah, but now we can jack off to traps on something called the internet. Everything is going to be just fine, nothing to see here
*replaces entire gold market by 2030*
>>12056330It's really simple friend. There are two kinds of people that buy bitcoin. One kind wants to use it as a digital currency, and exchange it with other people in dark net markets for all sorts of goodies. The second kind wants to hoard the coins, and hope for the supply to skyrocket in order to get rich eventually.The first group hopes to god for the currency to remain stable. The second group are a bunch of assholes ruining everything.
>>12057277The dollar price of gold fluctuating just means the dollar is going up and down.Again... gold didn't all of a sudden become valuable when America was born and the dollar was created. So why would the dollar price of gold matter?Your literally buying gold because you reject the dollar as a store of wealth dumbass
>>12057711>The dollar price of gold fluctuating just means the dollar is going up and down.no you moron, it means the price of gold is going up and down
>>12057761I realize there's a dollar price of gold. But gold is just gold. A gold ounce 800 years ago is still that same ounce of gold today. Nothing is changing with the gold. What's changing is the dollar.Do you understand that people buy gold as a hedge against the dollar collapsing? So if you understand that then it doesn't matter what the dollar price is because your fucking buying gold in the first place because the dollar is garbage.I don't give a shit if gold goes to $5,000/oz or 500$/oz in dollar price
>>12057796Wouldn't gold be an inherently worthless good to buy then? What is it good for except insurance?
>>12057796>Nothing is changing with the gold.the demand for gold is changing you dumbass. The only real demand for gold is for some electronics and jewlery, the rest of its price is by speculative gamblers like you
>>12056330This. Governments and banks believe in gold yet a bunch of lazy "investors" here don't. 6000 years of trust in gold both as a store of value and a commodity. Crypto cant even last 10 years. Fiat on average only lasts 40 years. People just dont understand history. There is no such thing as progress when it comes to money. Zoomers will never understand. They just wanna burn shit down and complain blaming others but themselves.
china is purchasing 2/3 of the world output for a reason sucks.
cry about it as much as you want, it won't change the fact that newer generations dont value gold as money at all, and all of that interest went straight to bitcoin, stocks, and other crypto.gold is old news, a dying relic, and if youre holding onto it expecting to get rich, you're a complete moron. its not even going to save you in a collapse, when gold will be sold massively to buy real world assets and more bitcoin.
>>12057867yeah, as the chinks keep buying gold and getting larger amounts of it, it's value as a global store of value rapidly reduces.china's just going to be holding the bag yet again on a worthless rock in the next century
>>12057876>>12057898>not knowing that the Anunnaki value gold above all else and are coming back here soon to demand their gold tributes and only the people with hordes of gold will be rewarded handsomely with DNA upgrades and become the new Nephlim rulers on Earth. Never going to make it.
>>12057876Nobody is crying. With gold I will be able to low ball land owners for property when the dollar collapses. Good luck doing that with bitcoon.
>>12057898United States has more gold than China and keeps getting more. Trump will likely go to a gold standard.
>>12057876No... western white leolke don't value gold because the kike schools have brainwashed them against it. Even pajeets in India niggers in Africa and all of Asians understand gold is money. You are retarded
>>12057876Yes you got it! To buy assets stupid! The world is swimming in debt. Bitcoin doesn't solve that problem gold does!Then you pick up a house for 2 ounces of gold after fiat fails
>>12057974>Even pajeets in India niggers in Africa and all of Asians understand gold is money.that sounds like a huge red flag for your shiny rocks
>>12056339you don't understand the basic primary function of money: it is a medium of exchange and no medium is more cumbersome than gold.
>>12057973>Trump will likely go to a gold standardWhat would happen to the value of gold if that happened?
>>12057986Lol maybe for 50 ounces but not 2
>>12058118if fiat fails you would be lucky to trade 2 ounces of gold for a loaf of bread
>>12057973trump is based he’d more likely go bitcoin standard.
>>12057965I’d accept discounts for my house right now if they offered to give me bitcoin. I think you’re wrong. You like gold yet don’t understand the properties in which give it the value it has. Smh. Sad.
>>12058180What happened in Germany after WW1? Did gold become worthless when it took a wheelbarrow full of money to buy some food?
>>12057841THAts bullshit. Gold was 300$ about 16 years ago. So your telling me the demand for jewelry quadrupled in a little over 10 years?Get fucked.
>>12058004No it unironically means thy are smarter than white people. They took us off a gold standard for a reason... to brainwash you into fiat.Now I can totally understand thinking crypto is the new thing because the dollar is dying but to be pro crypto and anti gold when the reason the dollar is dying because it isn't backed by gold anymore is just an absolute retarded way to look at things
>>12058224Is gold worthless in Venezuela right now?
>>12058052Ok if what you say is true then why is the dollar dying? All money is is a medium of exchange as you say.... ok..... well everyone is using dollars in America right now right? So what's the problem? Why is the dollar dying and why has it been dying for 100 years?
>>12058252no you dumbass, the increase in gold prices is from speculative tinfoil tards like you. If it wasn't for speculators and pajeet governments hoarding it the real price of gold would be like 100 dollars now>>12058279nobody can use gold to transact so it makes it useless for Venezuelans, thats why they are all stacking up on dollars
>>120582791 oz of gold buys you a home in Venezuela right now dumbass.Also.... nobody is saying that everyday transactions are made in gold but I can sure as fuck tell you with 100000% certainty that anyone in Venezuela who had any decent net worth before the bolivar collapsed would give their left nut to go back in time 7 years and be able to convert their bolivars into gold before their wealth in bolivars became worthless.You people are so fucking dumb.
>>12056330Walk in to the grocery store and try to pay with gold. See how it goes.
What blows my mind is that people that like gold should like bitcoin for it has extremely similar properties. Austrian economic policy built into the code, set supply, low stock to flow ratio, scarcity, durable, transferable(gold blows at this transferring 1M in gold sucks), portable(gold sucks here too because you can’t get out of a country with your wealth without gov sieze) but you get my point. Gold has similar properties because it can’t inflate, tougher 2% every year stock to flow. By 2024 bitcoin will have a lower stock to flow and arguably become deflationary by 2030. It’s strange to me because you’d think that someone who loves gold would also see the similarities in bitcoin seeing they mirror likewise characteristics, but they don’t. These people I believe are just not informed. They aren’t knowledgeable. I don’t respect their opinions and believe their opinions should be completely ignored seeing they aren’t based on fact.
>>12058295YEah you can't use it to transact to buy a sandwich..... but if Venezuelans put their bolivar wealth into gold before the bolivar collapsed they wouldn't be fucked like they are now you dumbass retard idiot.How fucking stupid are you??? It's not about buying bubble gum and twinkies with your gold it's about protecting your fucking wealth. The bolivar is fucking worthless. People are starving. If you put your net worth of bolivars into gold 7 years ago... you'd be fucking siting pretty and not eating your pet
>>12058224I’m not against gold. I think gold is real money and so is bitcoin(arguably the most pure and hardest money to ever exist) I’m on the same side as you but you don’t even realize it because you don’t understand money in the first place or you wouldn’t be arguing.
>>12058343But bitcoin is not unique. Gold is.
>>12058315I'm not a big fan of either gold or bitcoin, but gold has the advantages of tradition and not being dependent on mining. If the value of gold inverts then people just stop mining gold and it isn't really an issue for the existing gold. If the value of bitcoin inverts then you're screwed because without mining the system doesn't work.
>>12058313AGain..... how fucking braindead bigger tier brains are you?The bolivar doesn't buy you shit right now. People are starving and eating the fucking pets.Had a family in Venezuela bought even just 5 ounces of gold 6 years ago before the collapse they'd be sitting fucking pretty. They are scraping for a few dollars right now with what their bolivars can buy. MAybe they can get 10-15$ or 50$ with their bolivars.But if they had an ounce of gold they could trade that ounce of gold for $1.250 and that $1,250 is a shit ton amount of dollars compared to the few bucks USD they can get with their now worthless bolivars.Fucking Christ how are you people so fucking absolutely retarded
>>12058199You will accept bitcoin for your house right now because you are a gambler. Just because you are dumb, doesn't make the rest of us dumb.
>>12058374If you had bought a few shares in Apple decades ago you'd be sitting fucking pretty. Are shares in Apple money?
>>12058372Except when you gold your actually fucking mining. And when you "mine" bitcoin its not actually mining
>>12058338>hurr durr if they just knew about the crash beforehand they wouldn't be poorno shit you brainlet moron, if they had converted their money to dollars or euro before the crash they still wouldn't be poor
>>12058391That's irrelevant, the point stands.
>>12058388Stocks aren't money you dumbshit. The Venezuelan stock market is high as fuck actually. But the fucking currency doesn't buy you shit. So it doesn't matter how high their stock market is.Apple is a company with revenues and you get your revenues in fiat. But if fiat dollars collapses like the bolivar collapsed then you are fucked just like Venezuelans are fucked .I mean I feel like I'm talking to public school educated niggers who speak eubonics. I'm spoonfeeding you 2+2=4 and you can't grasp it.Stocks are investments. When I buy apple stock I'm doing that for a completely different reason than when I go buy an ounce of gold. When I buy apple I want more fiat when I buy gold it's because I'm afraid fiat is going to collapse. You people are fuckingg stupid as fuck it's increDible
>>12058431I agree stocks aren't money. Neither is gold and other commodities. Gold is not used as money, therefore it is not money.
>>12058431gold isn't money either. How the fuck are you gonna trade gold for small amounts? are you gonna carry a hammer with you and break small pieces of gold to pay for bread? lmao
>>12058392Why the fuck would they convert their bolivars to dollars you fucking idiot? They live in fucking Venezuela you braindead nigger. Gold works just fine and then yeah you can exchange goldfir dollars and then buy food, condoms, etc.But the point is when the dollar dies. You won't be able to shift to another like they could have shifted to dollars. So you'll need gold for the new currency to make out like a bandit because those dollars will be worthless just like bolivars
>>12058461That's when you get silver, copper, ect... involved. Honestly silver is perfect for smaller payments. You can also make coins that are mixed or smaller gold coins.
>>12058463because dollar is a global currency and accepted everywhere you retarded brainlet. nobody accepts gold as a payment and almost everyone accepts dollar
>>12058451Just because the fucking faggot says gold isn't money doesn't make it so. If you think the dollar is money then why is it failing?The dollar is currency.... gold is money....that's why the dollar was backed by gold. Then the Jews unbacked it and now you have income inequality up the ass.
>>12058382Gold, silver, bitcoin. Real big gambles I’m taking huh? I’d accept all three any day.>>12058372This is actually a good point here. Here’s a snippet from szabo blog you might be interested in. (2011)>if gold becomes too expensive, more effort will be put into mining thereby increasing supply, while if gold price falls, people stop mining. With BitCoin, there is no such feedback: no matter how much effort is put into BitCoin mining, the rate at which BitCoins emerge is near constant. >I think this is a valid critique. For the reasons you state Bitcoin is far more susceptible to radical deflation than gold. Sufficiently high deflation can bring credit markets to a halt as real interest rates become higher than the time and risk value of money a market in a non-deflationary market would set. If people figure out how to make loans at negative nominal interest rates, that would help solve this problem, but that only handles expected deflation; it wouldn't prevent widespread bankruptcies and other problems that come from unexpected radical deflation.>My bit gold design would work very differently than Bitcoin in this regard -- the relative prices of solution bits between periods of time (e.g. between one week and the next) would be set by a market, not by a prescheduled algorithm, so as with gold supply would be able to adjust to meet greater demand.
>>12058489and just because a tinfoil tard like you wants to believe gold is money doesn't make gold money. Money is what people accept as a payment, nobody accepts gold as a payment therefore gold is not money
>>12058489Actually people saying that gold isn't money does make it so. What is and isn't money isn't decided by society. Gold is not used to fulfill the roles of money in our society, therefore it is not money.
>>12058461Gold is money that has to back the currency (USD)Get it?If you just have some paper currency not backed by real money then you have income inequality to the point where you have a bunch of NEETS on a Uruguayan bait and tackle internet board throwing all their money in shitcoins hoping to make it became it's impossible otherwise because real money doesn't back the currency anymore
>>12058516>What is and isn't money is decided by society.Woops, fixed.
>>12058518fiat doesn't need gold to have value. Its value is based on actual trade and exchange of products and services in the market, I hope one day you understand this simple concept brainlet
>>12058539>inb4 he just spams more goldbug rambling
>>12058485Yeah and why do you think the entire world economy is fucked to high heaven? Because they print dollars out of thin air and it's the forced world reserve currency. You didn't think our military has 800 bases worldwide to protect our freedoms did you? Or to speed democracy? They are all over the world because the kikes force the world to trade in dollars.Literally the reason for the Iraq war and Qaddafi being killed. It's not about paying for trannies to let you suck their strap on cock in gold. It's about the currency having a basis of value
>>12058507THEN WHY IS THE DOLLAR FAILING?????Why are you investing in bitcoin if money is only a medium of exchange? Why is the dollar dying? Everyone uses dollars everyday.... why is it dying?
>>12058370How is bitcoin not unique? You fall for the “you can just fork it” kek I could fork the bitcoin code tomorrow too doesn’t mean anyone will want it. Zimbabwe can fork the US dollar and print a bunch of it too.
>>12058550and who says the economy is fucked? your whole worldview is literally based on conspiracy theories and imaginary doomsday scenarios
>>12058539YEAh and it's losing value right?
>>12058577World is swimming in debt. WW3 is literally about to happen because chinks and Russians and pajeets don't want to buy oil in dollars anymore
>>12058567and who said dollar is failing you dumbass? what metric are you using to say dollar is failing? the only failure here is in your brain>>12058585no it doesn't
>>12058596Better run out and buy some more tinfoil with your gold.
>>12058604100 year ago a good weekly salary was 20$Today 20$ barely buys you lunch for two and Taco Bell. That metric
>>12058620THats what happens when you can't argue my substantive logical points. You have to say "tinfoil" or conspiracy theorist. You start attacking the person and copout because you know your outclassed intellectually.
>>12058643>low levels of inflation over a long time period is bad!It's sad how little goldbugs understand.
>>12058643and now a good weekly salary is 1000$ not 20$ you morongrandpa take your meds, you are stuck back in time
>>12058659>substantive logical pointsExcept that goldbugs have been shouting about things like economic collapse and WW3 for decades now, and it still hasn't happened. You're like the people who predict that Jesus is coming back every year.
>>12058684Yes exactly! That 20$ good weekly salary was equal to an ounce of gold. Gold was 20$ 100 years ago.And had you held that gold ounce from 100 years ago until today you'd still have a good weekly salary since gold is $1,200 in fiat today which is still a good weekly salary So gold is money because your work held its value in gold for 100 years.
Nobody understands why fiat systems work, why gold is real money or why bitcoin will be 1 million in today’s USD one day. Why can’t be understand things can be more than one way. Fucking idiots.
>>12058707Store of value is only one function of money anon. We don't use gold as a medium of exchange or unit of account, so it isn't money.
>>12058699I hear you. It may not happen for 50 years but it could happen Monday morning too. But even if a collapse doesn't happen your value is still stored in gold.We didn't have a dollar crisis the last 100 years but has you held you wealth in gold instead of dollars the last 100 years you kept your value
>>12058716>bitcoin will be 1 million in today's USD>Why can’t be understand things>Fucking idiots
>>12058727Or it may not happen at all. There is no reason to think that your doomsday scenario is going to occur. As for where to store your wealth, I don't choose dollars or gold, I choose revenue generating assets.
>>12058721And a medium of exchange is only 1 function of money as well. Which is why the dollar is failing. Because it doesn't have the other multiple properties that money has to be.Gold is money dollars are currency. If the currency isn't backed by money then it's worthless
>>12058751YOU might be right. I'm not saying you are wrong. BUT at the very least it will be a slow decline. And your wealth in gold will fare much better then your wealth in dollars. So buying gold even if a systematic collapse doesn't happen still has huge benefits
>>12058754US gubbermint back the dollar the entire department of defense and the nuclear arsenal they own.
>>12058707>Gold was 20$ 100 years ago.no it wasn't you complete brainlet moron, it was 450$. from 1915 to today thats an 2.5x increase in gold price. If you had the money in Dow Jones it would worth 12.5x times today
>>12058754Err... dollars do have the other properties of money though. It is used as a unit of account, medium of exchange, and as a store of value. As such it is money, and clearly isn't worthless since I can exchange it for goods and services of value.In so far as the money / currency distinction even exists, USD is money whereas Federal Reserve Notes are currency.
I heard something a while ago that made me think.In 1901 if I walked into a clothing store with a $20 gold piece I could buy a hell of a nice suit. Today If I walked into a clothing store with the equivalent, say $1300... I could buy a hell of a nice suit.So did the price of gold really go up in the last 120 years?
>>12058770Buying some gold as part of diversified portfolio has some benefits because of how it correlates to stocks / bonds, but again, you are much better served by purchasing revenue-generating assets (stocks, bonds, real estate, etc.)
>>12058812Stocks, bonds, and real estate are all denominated in USD. The concern is the USD collapsing! Gold is an asset in of itself. Gold does not rely on the dollar. The other things do.I find it fascinating that you people can't grasp this.It's basic bare bones logic. I'm not even that smart. And it's so simple and easy to understand
>>12058846hey brainlet you got caught out on your bullshit. You honestly thought one ounce of gold was worth 20$ 100 years ago? How can anyone take you seriously when your whole argument is based on delusions and fake data?
>>12058795Your chart shows the inflation adjusted price. Gold WAS under $20 100 years ago. Other anon is not wrong.
>>12058846Gold is also denominated in USD kiddo. Even if your mythical scenario happened and USD went to zero, things like businesses and real estate would still be valuable. Such a collapse could certainly affect their value (just like it would affect the value of gold), but they don't rely on the dollar. If people still want Apple products, then Apple stock would still have value.
>>12058808No brainlet..... in 1901 20$ equaled a gold ounce. They are convertible. So you worked for a week in 1901 and you made 20$ or a gold ounce. They each bought you a nice suit. Today that 20$ obviously doesn't buy you a nice suit but had you held that gold ounce until today you can go to a coin shop and get $1,300 for it and still be able to buy a nice suit. So if you worked in 1901.... and you could hold your weekly pay in that 20$ or the gold ounce for 100 year what would you pick?You worked a week in 1901 the 20$ or the gold ounce could both buy you a nice suit. Which would you rather hold for 100 years so you value was stored?
>>12058868gold was 450$ 100 years ago you retarded brainlet. The only time gold was 20$ was in the 1800's which had a fixed price
>>12058884imagine how dumb you must be to think people in 1901 were richer than people now
>>12058877YES! Businesses and homes would still be valuable! I know that! Why do you think I own gold? To jack off with it to porn after the dollar collapses?NO! I'm going to be scooping up those businesses and homes for literal pennies on the dollar for what it cost me to purchase the gold in the current fiat paradigm. Haven't you ever heard the story of the hotel bellcap in Weimar Republic Germany? Had 25 ounces of gold saved up and after hyperinflation hit he was able to buy an entire city block with that mere 25 ounces of gold
>>12058888There you go dumbass
>>12058919Okey dokey, good luck waiting for that to happen.
>>12058937EVen if it doesn't happen my value is stored better in gold than dollars you fucking idiot
The hallucination that things are measured in anything but Bitcoin is one that will be eventually solved as physics collapse assorted Maddof fiat schemes around the world.
>>12058955Like I've said a few times now, neither is a good option. I put my money to work making me more money.
>>12058973 Nobody is saying don't invest some of your money. But if the dollar collapses which is likely.... then that extra fiat you made having your money work for you will become worthless. Get it?
>>12058934thats the fixed price you dumbass . The average salary back then would be equivalent to 1 ounce while today it would be 4 ounces>>12058955nobody uses currency to store value you moron, thats what equities are for. The only purpose of currency is to use it to buy and sell stuff, why can't your little brain comprehend this simple concept?
>>12058998That's the thing though: I don't agree with you that the dollar is likely to collapse. It's actually incredibly unlikely.
>>12058998if the dollar collapses and everyone becomes poor your rocks will become worthless, because people can't eat rocks. Get it?
>>12059007Hence why you posted inflation adjusted chart, dumbass. I'm just saying before you call others stupid, realize there are different statements when talking about the price of gold.
>>12059023because he was comparing gold with the price of products you could buy, so the inflation adjusted price is what matters in that case, brainlet. Learn how inflation works before embarrassing yourself
>>12059007YEs currency is to buy and sell stuff. So.... America was born.... our founders put in the constitution only gold and silver shall be legal tender. You already know our founders were much smarter than you.So then the dollar was created so you can buy and sell stuff a lot easier than using gold. But you still needed gold to back that currency. And in fact the currency was a store of value because the dollar equaled gold. Get it?Equities aren't a store of value you moron. I could buy a stock tomorrow and it can be 30% less next year or 30% more. That's an investment. I'm gambling. Owning real money isn't gambling.
>>12059017But the dollar has already collapsed.
>>12059044>our founders put in the constitution only gold and silver shall be legal tenderFor states, not the country.
>>12059044gold is a commodity, the price of gold is based on speculators aka gamblers, gold is a shiny rock, it doesn't produce value and it doesn't offer any actual service to the world, a company does. Your shiny rocks are worthless, the only people that invest in gold are retarded tinfoil brainlets that think the world is about to end any moment now, you are just as dumb as the end of day religious tards
>>12059051if you believe it hard enough its true
>>12059017Gold has been savings and money for millenia. Why was gold valuAble 1,000 years ago? Nobody fucking ate gold back then, right fuckstick?Oh yeah the gold and silver bought the fucking food.Are you fucking stupid... wtf you think is going to happen in a dollar collapse? Everything becomes free? Gold will be worthless in a dollar collapse! Only food will be valuable! So wtf are you going to do? Go to the nearest farm and get food for free?Its like I'm speaking with a bunch of low IQ feral niggers. You people are literally the dumbest fucking people on the planet.Not because you didn't understand it before but because I'm literally spoonfeeding you dumbfucks and your brain cells are incapable of moving and thinking and thinking oh wow that actually does make sense. And it isn't even complicated. It's easy to understand shit like gold had value long before the dollar ever existed... so logic dictates...... why the fuck would the dollar price matter?
>>12059089you moron, they used gold 1000 years ago because they didn't have technology to authenticate paper money like we have now. Your retarded brain really is 1000 years outdated
You cannot seriously believe that "being money" is an actual inherent property of gold and not a cultural thing? And not think that cultural memes change over time? Right?
>>12059120I bet he is gonna quote bible soon to prove that gold is money
>>12059089Yes when society breaks down a full fledged gold economy will sprout immediately.>Barter? what is barter?
>>12059108YEah but that paper dollar STILL represent gold! Right stupid? You could exchange gold for dollars and vice Versa at United States banks
>>12059137Yeah because when the dollar collapses........ we are going to live in some sort of closed loop barter system until the end of time, right? People will be exchanging Blowjob for toilet paper and there will never be another currency to make trade easier. We will be bartering like medieval times peasants for the next 3,000 years
>>12059141and back when they had the gold standard you had inflations reaching 30% and crashing deflations that stagnated economies for year. Gold standard was a failure and removed for a reason. You can blame being poor to jew conspiracies and fiat but in reality you are poor because you made bad investments and shiny rocks is one of them
Oh am I posting in a troll thread lol. Good one guys.
>>12059125YOu can find a quote in the Bible showing how 1 oz of gold would get you 350 loaves of bread 2,500 years ago.Guess what?Had you held that gold ounce for 2,500 years until today...... and you took it to a coin shop you'd get $1,250 for it.....If you took that $1,250 to a grocery store you'd still be able to buy roughly 350 loaves of bread still after 2,500 years.Since bread is about 3.50 a loaf. See? That's how money works
>>12059154When did the economy stagnate?
>>12057847gold will be worth nothing in the future when we'll be advanced enough to get as more gold than we could want, so of course progress can be made.what is it that your old brain can't understand with crypto, is that because of the fact that you'll miss longevity escape velocity which makes you a bit dizzy?
>>12059161Figured it had to be that
>>12059153I guess ur drunk or a troll but the scenario you seem to be betting on is total technological setback to medieval ages, after which a gold based economy slowly grows out of it's ashes, and things like internet and modern economic theory are fully lost...Since the internet is basically only killable by totally blowing up every country on earth (for example, fully nuking USA or Russia will not stop the internet from existing at all), the premise for this is shaky. You woukd have to be a survivor of a full global nuclear armageddon, and still be able to create functioning society.
>>12059182yes, I see your mind is very gullible and stuck thousand years in the past. Sumerians also used lapis lazuli as currency because it was a very shiny pebble, I guess I am gonna go stack up on shiny blue pebbles now>>12059191every single recession, there were a couple of them, maybe check out some of history
>>12059207yeah thats the whole selling point of goldtards, that any moment now the world is about to come to and end and shiny rocks will magically become the most valuable thing ever because ancient people used it
>>12059195>gold will be worth nothing in the future when we'll be advanced enough to get as more gold than we could wantAny time now.
>>12056330Bitcoin isn't and never was a currency. Just a social experiment. As a project it's also basically over too.
>>12059223https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/gold-ratios-are-they-really-worth-much/They're basically brainwashed by gold salesmen (the same type of people they hate for running fiat). When gold goes down it's manipulation, when it goes up it's because that's it's true value.And I don't even hate gold, it's very unique from a chemical point of view and will always be worth something, but it's a commodity and the market will decide it's price.
BTC gives you uncensorable transaction capability and there are large powerful groups of people that have an interest in providing value in exchange for BTC??? (exchanges, grey markets)Crypto literally has intrinsic value and there are always going to be whales that maintain exchanges and pay traders to provide liquidity BECAUSE THEY HAVE AN INTEREST TO DO SO JUST LIKE THE USA HAS AN INTEREST IN MAINTAINING USD AS THE RESERVE CURRENCY!!!!!!! (it's going to fuck that up) THIS IS WHAT PETER SCHIFF CANNOT UNDERSTAND AND IT DRIVES ME FUCKING CRAZY!!!!!!!!
>>12056840thirdworld shitholer here, can I make it with gold?
>>12059299if you learn to fucking trade it then yes
>>12059289>Crypto literally has intrinsic valueYeah that's patently false
Another good one, although I'm more bullish on BTC than Armstrong.https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/gold-bitcoin/
>>12059327ARE YOU SAYING CASINO CHIPS DON'T HAVE INTRINSIC VALUE!?!?!?!?DO YOU NOT FUCKING UNDERSTAND?!?!?!?A SINGLE CHIP FROM A CASINO MIGHT NOT BE WORTH ANYTHING BUT AS AN IDEA AND A TRANSACTION SYSTEM THERE IS AN INTEREST FOR AN INSTITUTION (THIS CASE A CASINO) TO EXCHANGE VALUE FOR THAT TOKENTHE FUCKING CARTEL WILL HODL BITCOIN IF THEY FUCKING NEED TO.. SAME WITH THE EXCHANGES
>>12059327you're right, maybe he meant bitcoin and not crypto
https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/silver-v-gold-standard/I mean this guy BTFO goldbugs on the regular with actual facts. DYOR buddies.
Bitcoin: sound money, backed by mathematics Gold: shiny rocks
>>12059392What's this "core" that cash people are always talking about? I've heard of BitCoin's ticker BTC but what's the ticker for BitCoin Core? Is that the third Cash splitoff?
>>12059422not even worth replying to anyway GODL HAS INTRINSIC VALUE IN METAL PLATING BUT METAL PLATING DOESNT EVEN NEED MORE THAN A FEW MILIGRAMS FOR A SINGLE PART.. JUST LOOK AT YOUR RAM MODULESMEANWHILE RARE EARFS ARE MORE USEFUL BUT THEY ARE RAMPING UP PRODUCTION AND THAT IS THE SECOND POINT WHICH IS THAT THERE IS ACTUALLY A FUCK TON OF GOLD IN THIS WORLD AND IN SPESS THERE IS NO FUCKING "BEST" CURRENCY AND HODLERS NEED TO LEARN HOW TO FUCKING HEDGE A FUCKING PORTFOLIO HOLY FUCKING SHIET
>>12056330I mean i wouldnt really be worried about gold fellas. In the event that the dollar literally JUSTS youre going to have alot more to worry about than just your finances lul
>>12059447>metal plating>not advanced wiring
>>12059481silver has better conductivity and superconductors are even better and copper has 99 percent of the efficiency
>>12059286WHeat is a commodity. Gold is money. Gold salesmen? What's wrong with people selling gold for fiat? Everyone sells something, right? Stock brokers, subway franchisee owners sell you sandwiches. Appliance store owners sell you refrigerators.You say Gold salemen as if it's only gold dealers who are selling you something at a markup. At least gold dealers are selling you a real fucking asset and real money for your worthless fiat.And some of you say why would a gold dealer sell gold for fiat if he doesn't believe in fiat? Well any gold dealer is going to have a shit ton of gold and silver so if the dollar collapsed Monday morning... guess what? He's going to have a shit ton of gold and silver in his shop and he will be sitting pretty.We live currently in a fiat system so obviously even gold dealers have to make a profit in fiat, but it doesn't mean they don't have a stash of gold and silver too
>>12058315non retarded post
>>12059543A non retarded post that couldn't substantively answer the question in my OP
>>12057796why dont you trade something rarer like bitcoin or platinum?
>>12059531Good luck with your pms then. You're determined to go all the way with the pms and nothing will change ur mind. You probably missed the biggest bull market in a decade or more sitting on ur gold, hoping for some kind of SHTF scenario (who would hope for such a thing). And you will miss the next one too.
>>12057965why wouldn't you just use whatever the new currency is?wouldn't you have to exchange it for something liquid first?
>>12057974they also understand dollars are moneyone of these is easier to trade
Bitcoin (without the c capitalized) outperformed gold by hundreds of times and will again. Then you whine that it's not "real money" like gold. That's your obvious future tragedy.
>>12058315THis post is just a bunch of useless rhetoric. You aren't addressing my OO at all. You are just an educated moron basically. You sound smart but your just typing bullshit because you can't answer my question
>>12059628Then why are dollars failing? Sure dollars might not implode for 50 years but guess what? Gold is never going to implode as a store of value.
>>12059084but it is true
>>12058596Russia has oil and the price is crashingChinks need oil but no one trusts their currency
>2030>btc worth millions of usdcoins>hodler masterrace moving millions worth fo btc across borders seamlessly to go into bitcoin tax havens and retire>goldcucks getting cucked in every border as they try to carry whatever is left from their justed portfoliosmaybe by then boomers realize untangibleness is a positive
what does $.25 worth of gold look like?what is 1 gram of gold worth in terms of products or services?
>>12059635You don't get it. Money isn't supposed to perform. You earn a gold ounce 100 years ago and it still buys you the same amount of shit today as it did 100 years ago. Do you get it now?When they started issuing dollars 200 years ago. You didn't make 10$ for the week and then think to yourself..... I'm just going to hold this for 8 years and then this 10$ will buy me 2,000 acres of land when it bought you maybe 1 acre when you earned it 8 years earlier.Money isn't supposed to appreciate 1,000x you fucking idiots. Money is supposed to be stable. Which is why a gold ounce 100 years ago was a good weekly salary and a gold ounce today is still a good weekly salary. What do you retarded niggers not understand about this?
>>12058808so waitthe inverse of this is1 suit in 1901 is worth 1 ounce of gold1 suit in 2018 is worth....
>>12059669Thats why the chinks have been accumulating gold in record tonnage. Once they back it then Russia will buy the oil.
>>12058962and what's bitcoin worth today?
>>12059689and if you had invested your money in stocks 100 years ago instead of gold you could buy 20 times more stuff, therefore gold is a shitty investment. Get it now brainlet?
>>120596981 ounce of gold! A nice suit today is 1,300 which equals an ounce of gold today. And a gold ounce 100 years ago still bought you a nice suit. So that gold ounce held its value in terms of purchasing power for 100 years. How can you guys not wrap your head around something so fucking simple to understand?
if I use USD$ to buy bitcoins... doesn't that infer that it is the dollars themselves that have value as I'm using them to purchase bitcoins? The person that is selling the bitcoins obviously values the dollars more than the bitcoin since he's selling it to me.
Why do yall fuckers even care about your wealth anyway. Go full doomer and embrace the worthlessness of it all. Do you faggots actually want possessions and shit like a bunch of females, thats the gayest shit I've ever heard. I would be just as "happy" in a 200 sqft shack with a bicycle and a camping chair, none of the wealth you own adds anything over than superficial layers of happiness, your intrinsic happiness level will remain untouched and let's face it if you are on this website chances are your intrinsic happiness is fucked beyond hope
>>12059089what the fuck is farmer going to do with gold?
>>12059728Stocks aren't money you dumbass! Some people might not want to invest in stocks and just want to save their money and not have to worry about stocks going down!!!!Are you fucking stupid???People invested in stocks when we were under a gold standard you fucking idiot. Nobody is saying keep 100% of your money in gold.Why do you think govts like china and other countries are accumulating a fuck ton of gold? So they can make investments you stupid ass nigger.You think china has been accumulating 1,000s of tons of gold for no fucking reason?
>>12059153well you see gold is hard to come by and is hoarded by rich kings and is hard to trade without ittherefore I'm inventing a currency that can be used by anyone, it's called the tally sticksticks are plentiful and can't easily be reproduced as sticks are uniquethis makes them a good tool to use for trading things
>>12059752>Stocks aren't money you dumbass!how is that relevant you moron? if you need money to buy stuff you sell the stocks and get money to buy stuff>and not have to worry about stocks going down!!!!imagine being THIS dumb. You realize gold goes up and down in price too right? gold crashed in 2013 and its still going down 5 years after while stocks are still going up, you are literally holding bags of shiny rocks that only pajeets and niggers want to buy
>>12059182so bread prices are constant?
>>12059751HES going to take that gold and buy shit he needs like toilet paper or hookers. What? You think farmers just farm to farm and don't have thing they want? You think it's only possible to sell shit for fiat? If you don't have paper it's impossible to sell your shit?Ever seen those gold mining shows on A&E. they will pay for shit at a local store in gold dust.You fucking idiots think that it's only possible to sell something and accept Jew fiat for it? It's impossible to accept gold? When gold has been money for thousands of years?Jesus Christ all of you must be black. I can't even fatbom not understanding something so simple and being white
>>12059531I have 1 million bushels of wheat, I can sell them for>1 gold ounce>several horses and tractorswhere does the supply of gold factor in to this that it makes it a better currency?
>>12059689I could buy a Model T car for 1 ounce of gold in 1920, I can only buy the model T today for 4 ounces of goldis gold worth less than a model T?
>>12059779The bread to gold ratio is pegged.
>>12059779IN gold yes!!!!But if your brainwashed my the Jew dollar then you think bread prices chance. A loaf of bread 25 years ago was 90 cents. Today it's about 3$. What's changed? There isn't anymore demand for bread today than there was 25 years ago so obviously the dollar became more worthless. If we stayed ona gold standard in 1971.... a loaf of bread would be roughly the same today as it was 40 years ago. And people would have more purchasing power.But since we have a central bank and no gold standard the Jews at the fed print money out of thin air which benefits them because they are the first to touch it. So if congress gets 10 billion dlllars from the fed and buys a whole bunch of shit it's no cost to them because they are getting the dollars for free. But once that money circulates in the economy you age too much money chasing to few goods and prices of everything rise and we all get poorer.
>>12059700you're going to take China;'s currency for gold?
>>12059809your brain is run on conspiracy theories, you are so far inside your ass there is not even a point trying to argue with you.>muh evil jew illeminatilmao dumb /pol/tard
>>12059732what if the price of the suit increases, does that mean the gold is worth less?
>>12056351>dumb zoomers aren't stacking gold and silver to make massive gains for the coming crash.
>>12059781how much gold dust for a pickaxe then? how many micrograms of gold for a hamburger?
>>12059853>back in muh days we could buy a car with a nickel you know!
Gold as currency>need physical gold in hand to trade>if one person hoards all gold trade will stopfloating exchange rate currency>more currency can be added to money supply to keep trade flowing>prices will adjust based on supply and demand>currency is based on work done, makes sense that it would be inflationary and lose value since work done yesterday is worth less than work done today>encourages people to work efficiently and spend thriftly to maximize money income>currency backed by government which tries to ensure quality of life and social order
>>12059884in a post scarcity society this system can eventually be transition to support a universal basic income
>>12059195Do you really believe that?
>>12059895I have a bunch of thorium which is dirt cheap and several nuclear reactors
>>12059967And then you did more research than superficially skimming the wikipedia article and realized your fucking gold is radioactive which doesn't only mean it decays away but it also gives you cancer
>>12059833WHeb it's backed by gold sure why not?
>>12059681Haha, conspiracy theory, hello Chaim, how is work at the federal reserve, do you have any goys working there or is it only jews
>>12059681Kek, you're own "debunking" proves the people being debunked right. Just look at when Nixon got rid of the gold standard. The purchasing power of the dollar dropped from around 28 cents to 5 cents, yet if you look at average income it only rose from around $43,000 to $50,000
>>12059859Crypto is just gold for zoomers.
>>12060253the second chart is ADJUSTED for inflation you dummy, so any loss of value is already counted
>>12060286Autism. The value of the dollar goes down. Simple as that, it doesn't matter if people's income goes up or not because they can still put it into something that isn't depreciating. Do not hold the USD.
>>12060389imagine being THIS dumb. If the increase of your income is larger than the increase in prices that means the purchasing power of money goes up. >Do not hold the USDso how are you buying stuff brainlet? are you paying with gold coins in your grocery store? lmao
>>12060416Except that's not happening stupid. The prices are increasing faster than incomes. Why the fuck do you think income inequality is a thing?One of trumps triumphs even tho it's not really a triumph is waged are increasing for the first time in a long time. What people should be asking is why the fuck are prices rising in the first place? Oh yeah it's because we don't have a gold standard anymore and the kikes at the fed print money out of thin air
>>12060416Look at this article for brainlets like you:https://money.usnews.com/money/personal-finance/articles/2015/01/02/a-glimpse-at-your-expenses-100-years-ago1 lbs of stake would have cost you 24 cents. How much does that cost you today? Your raised average income (your chart includes billionaires) couldn't keep up.
>>12060416ALso why would you want to hold USD? I thought that's the entire point of crypto shitcoins.... the dollar sucks so you exchange it for shitcoins even tho that's a fraud solution and should be buying gold
ive had a taste of how unfair life is when i was a kid and it only got more real as i got older. a few peers got local famous as artists and getting that art hoe pussy while in relationships while i got shit on by everyone.word spread fast i did the bitcoin shit since last year and made some good money and i get shit and made fun of. the servers that know me because its a small town are sneering. only good word i closely get is from the bank, still hear gossip from the boomers in there mostly like its a scam or ponzi.
>>12060441imagine being that stupid that you try to make an argument with the price of STEAK instead of the actual inflation number that counts a basket of products. Learn to read actual economic data instead of anecdotal prices of steak dumbass>>12060438moron, deflation is even worse than inflation. look the recessions caused back when there was gold standard. It doesn't matter if things are cheap if your income is also getting smaller, you are even more poor and still can't afford anything>>12060451>ALso why would you want to hold USD?USD is money, you hold enough money just to buy stuff, money is not an investment and aren't supposed to increase your wealth just by stuffing them under the mattress like a retarded boomer
>>12060482You hold just enough money to buy stuff? Are you black or just stupid?Have you ever heard of savings??? Do you know what that is?If someone worked from 1950 to 1980 and saved 25% of his paycheck each and every week are you telling me that's a fucking bad thing?Your kike infected brain thinks savings is a bad thing?
>>12056330Because it's not money. It's bullshit used to pay for drugs and child porn.
>>12060482Deflation means cheaper prices you fuckhead. Your telling me higher prices are a gold thing?Inflation is good for only govts and debtors you dumbass.You really are dumber than a nigger to think higher prices are a good thing
>>12060482EVen fucking dark black niggers know that savings is a a good thing
>>12060503>Have you ever heard of savingshave you ever heard this thing called "investments"? If you are a sub 50 IQ sumbhuman this word might frighten you and you think you should magically get free money by putting them under the mattress. If you are too dumb to invest you deserve to lose all your money to inflation like a good retard you are>>12060515deflation also means lower salaries and income you moron. It doesn't matter if things are cheap if your income is also smaller. Are you this dumb? Can you even do simple math in your head?
>>12060532Yeah..... there are savings and investments. You got it stupid. You invest and save. You don't put your entire net worth in a fucking stock market that's inflated by criminally suppressed 0% interest rates.Without savings there are no investments you can make. But you always keep savings you don't just throw all your fucking money into investments where you can also lose. Whereas with real savings you can't lose.Fucking moron. Yeah great strategy...put 100% of your net worth in the new rigged overinflated stock market. Great strategy dumbass.
>>12056330>doesnt understand the difference between money and Currency
>>12056811The cost to mine and transport it will still keep prices high.