Posted on 06/12/2022 8:24:02 PM PDT by C210N
Just pointing out that silver is not a good store of value, otherwise, we agree.
Sorry boys, I paid my tuition to Howard Ruff.
The only metal I have bought that did anything was the four tons of aluminum I bought prior to the child groper’s administration. And the carbide cutters in my machine shop.
BTC futures now 21,475.
B5C FUTURES NOW $20,965.
Is it futures or the current price?
I don’t know much about the workings of BTC, but I got the notion that it had a 24-hour market, unlike PMs.
It’s futures but that prce is very close to the cash price.
https://www.npr.org/2022/06/17/1105343423/cryptocurrencies-winter-crash-bitcoin-celcius
I have a generic rule, and that is when the newsies are all screaming blood, mayhem, murder and the total collapse of a sector, that is the time to buy. I have an order in to buy BTC at 13,267 and Ether at 829 ( avoiding round numbers, just something I do), but I am wondering if I might start to nibble a bit if we drop below 20K again. When NPR covers it, we are close to the bottom
I believe in the concept of digital currency and BTC (and Ethereum) are viable models of “money” in that they meet the requirements... one of which is NOT the idiotic assertion that a currency have “intrinsic value.” If you are listening to someone who asserts this necessity (usually a gold bug.. nothing bad about that.... I am a certified gold bug) then walk away. That person is a moron. There is no such thing as “intrinsic value” and those who say that bitcoin is inherently “worth nothing” are frankly too stupid to come in out of the rain.
ALL currency is intrinsically “worth nothing” given the right circumstances. Implied value is the only thing that matters, and utility, security, and adaptability are the keys in digital currencies to why one would imply value. The massive volatility and crazy speculative excesses we have seen (and will continue to see, in my opinion) in digital currencies are NOT due to the nature of bitcoin, but due to the insane money printing of the ULTIMATE ponzi scheme, the US dollar (and its bastard step children, the paper currencies of the developed and developing nations). If you are a nervous nellie, then stick to “secure” investments..... if you can find one, lol.
I will state it again categorically, if you are placing your confidence and your hard earned and meticulously accumulated wealth in a web of assets whose “security” depends on the stability, dependability, and long term solidity of the US Dollar, your eyes are going to pop out when you see how quickly that mirage comes unwound. Again, there has never been a bigger ponzi scheme in history than the dollar. It makes tulip bulbs look like a passbook savings account by comparison. At the minimum buy a little gold and silver, a little bit of farmable land, a little digital and a few consumables for storage (they will call it “hoarding”... screw em).
I don’t pretend to know when this will go down. I look for the signs, but I have on the lookout for the market to triumph over the fed for over a decade now, and have been “wrong” on the timing. I might continue to be off on timing, so I am not committing the whole nut to some speculative sector. I am saying that the evaporation of “wealth” that is coming is going to make people both gasp and weep. I am sure of that.
Good luck
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