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Gold is at least as old as the Earth itself. The latest theory is that it and the other heavy elements were the result of neutron stars colliding.
Gold has intrinsic value. If the power goes out, bitcoin is kinda useless.
BTCers don’t like BTC now plummeting thru floor, only to hit a lower floor. So, try to put out the idea that at some point it will hit $400,000.
Get out while you can still do so. It’s freefall is imminent.
BTC is the creation of the Deep State Cabal, whose takedown is in-progress. Along with the fiat currencies they rode in on.
Oh, there are MANY good people who own BTC. That suits the Cabal just fine, as they hide in the shadows.
FIAT will crash too. NESARA/GESARA is waiting in the wings.
Not all crypto is doomed - a crypto that adheres to ISO 20022 will survive - meaning a crypto that has precious metals backing.
YMMV. Good Luck!
I claim to have virtually NO understanding of “crypto
currency”.
And that sentence above illustrates the limits of this “thing” as an investment vehicle.
Because you have at least 2 GENERATIONS of older investors (you know, the generations that actually have most of the $$$ to invest) who have no understanding of this “crypto” concept.
And the #1 rule of investing is: ONLY INVEST IN WHAT YOU UNDERSTAND AND HAVE EXPERIENCE WITH.
Obviously, with the passage of time, this will change, but right now - unlike more traditional investment vehicles - crypto has a “generationally-limited” appeal.
(Don’t try to explain it to me. 110% not interested. Life’s too short and I have lots of better things to do at this stage of the game. ;>)
Gold may have a market cap of $11 Trillion, but you’d be hard pressed to gather up all the gold bullion in the world, put it in one pile, and expect to have even half as much gold in Troy Ounces that would equal $11 Trillion at today’s valuation.
There is about as much paper gold floating around as physical gold.
If it reaches a market cap of 11 trillion, those owning the 11 trillion dollars of ounces of gold will still own those ounces, Bitcoin owners will own a number.
A number that might hold its value in the minds of its owners, or a number whose value could lose all its value in the minds of its owners.
Gold even helps determine the value of those dollars that can be printed in excess and lose their value also.
Gold will still be beautiful to look at, or at least have physical uses.
Funny this is posted today.
It seems that there are NO inflation hedges right now. Silver did ok this week—but all around cash seems to be doing OK. At a lost of 8% a year (give or take.)
indeed, bitcoin has lost 30% of its "value" in the last two months while gold has been pretty steady ...
Bitcoin will come back, because using a pure wallet makes it relatively untraceable.
The problems with it now are Russian banned it, the techie intensity is now in NFTs, and many of the smaller coins have bubbled and are at unreasonable prices.
It will probably regain its value to 50k by summer.
A lot. There is a fixed amount of Bitcoin.
Gold fluctuates daily, so you’d have to take the current market value of gold, divide that by 22,000,000 (the maximum number of bitcoins that could possibly exist - as best I know) and you’d come up with a value of $575,000 each based on yesterday’s market valuation of Gold.
One further note for BTC....
Like any other commodity, BTC rises and falls somewhat on its relative scarcity. So, as various governments take down or limit BTC’s mining, BTC price rises.
Think of that rise as BTC’s last breath.
It’s artificial, since it derives from the process of shutting it down. Like an incandescent bulb shining brightest before it burns out and goes dark.
