I think all fiat currencies are a bad risk for savings. In particular the Euro. Turkey, Italy and Deutschebank will bring it down, Brexit will also make it difficult for the EU to survive. Sterling will be better if we can get rid of the Eton/Oxford unicorns in the government and the civil service after Brexit.
Silver and gold are heavily manipulated markets, and value is far lower than it should be. This is because major investors are depressing the markets via paper transactions, whilst they accumulate physical metals, Silver looks the best bet for capital growth out of the two.
I believe Bitcoin is the 'gold' of the future, and I have been slower than I should have been in acquiring it. I decided to move fiat deposits into Bitcoin via the purchase of domain names, and this looks as if it could have some interesting possibilities. The announcement that Ethereum is to have its own TLD ( .ETH ) for payment addresses could expand the market for suitable domain names.
Remember - I am not qualified to give financial advice, and my comments are just personal opinions.
Topic: God's money or the people's money - which is the best safe haven? (Read 204 times)
August 19, 2018, 10:49:40 PM
When building your personal investment portfolio , cryptocurrencies are a very interesting investment and I believe everyone should keep at least small amounts.
However, when you hold large amounts of cryptocurrencies, the volatility becomes a problem. For this reason I think only small amount which you can afford to lose should be in cryptocurrency.
Let's suppose you put 50% of your personal savings in btc. If btc crashes 40% you will lose 20% of your live savings, which I think is not healthy for you mind...
So I believe the best is to have something like at most 20% in cryptocurrency. Some people can afford to have more than that, others much lower like 1% depending on their toleration to risk.
I believe that people who live in a decent country, like Europe or USA, doesn't need to buy currency from another countries as an investment. In this case you are better diversifying in "gods money" like gold and silver...
I have some euros and dollars because I live in Brazil and at anytime my fiat (Brazilian Real) may lose 60-70% of its value because of governments abuses (specially in election years)
I believe that if you are in Europe and want to buy dollars, it's better to buy some etf such as SP500 , which are a good representation of the USA economy sentiment.
However, when you hold large amounts of cryptocurrencies, the volatility becomes a problem. For this reason I think only small amount which you can afford to lose should be in cryptocurrency.
Let's suppose you put 50% of your personal savings in btc. If btc crashes 40% you will lose 20% of your live savings, which I think is not healthy for you mind...
So I believe the best is to have something like at most 20% in cryptocurrency. Some people can afford to have more than that, others much lower like 1% depending on their toleration to risk.
I believe that people who live in a decent country, like Europe or USA, doesn't need to buy currency from another countries as an investment. In this case you are better diversifying in "gods money" like gold and silver...
I have some euros and dollars because I live in Brazil and at anytime my fiat (Brazilian Real) may lose 60-70% of its value because of governments abuses (specially in election years)
I believe that if you are in Europe and want to buy dollars, it's better to buy some etf such as SP500 , which are a good representation of the USA economy sentiment.
August 17, 2018, 06:36:12 PM
Gold (and silver even more so) is extremely unwieldy once you get to a certain amount. So crypto all the way for me ATM.
On the other hand, gold might be more useful in a zombie apocalypse, but gas/food/water/weapons/ammunition/AA batteries would be even better.
On the other hand, gold might be more useful in a zombie apocalypse, but gas/food/water/weapons/ammunition/AA batteries would be even better.
August 17, 2018, 01:20:28 PM
Gods money is no money, we should strive to live in a world without money where everyone can share and resources will be allocated fairly.
Cryptocurrency is not the peoples currency, 1 percent of the population even owns cryptocurrency. The few that were invested at the beginning made a lot but the newcomers don't want to invest.
Cryptocurrency is not the peoples currency, 1 percent of the population even owns cryptocurrency. The few that were invested at the beginning made a lot but the newcomers don't want to invest.
August 17, 2018, 07:22:02 AM
I can't remember who it was that split money into 3 categories.
- God's money is the hard metal currency such as gold and silver, and to a lesser extent, platinum and copper. You can buy a gold Brittania with a face value of £100, but it will cost around £1,000 if you buy one from the Royal Mint. This means that it is not in general circulation, but it is used for certain high value international purchases. At the other end of the scale, a 2p coin has a high copper content, and is worth around 3p. These are still in general circulation.
- Government money is the fiat currency of various nations. At the moment, there seems to be a rush into US dollars as a reserve currency. Given the current US debt levels, this doesn't appear to be the wisest choice. Other national currencies seem to offer even worse security.
- Crypto-currencies are the people's currency, and offer an interesting safe haven possibility. Bitcoin is becoming the new gold, and one or two of the others appear to provide a hedge against economic collapse, but the choice of an alternative currency is fraught with risk. Some will stabilise and offer exceptional returns, and some will become worthless. Choosing between them is not a simple task.
So what do you think is the best mix of currencies. My choice at the moment is Bitcoin and silver coins, but I think I should diversify a bit.
- God's money is the hard metal currency such as gold and silver, and to a lesser extent, platinum and copper. You can buy a gold Brittania with a face value of £100, but it will cost around £1,000 if you buy one from the Royal Mint. This means that it is not in general circulation, but it is used for certain high value international purchases. At the other end of the scale, a 2p coin has a high copper content, and is worth around 3p. These are still in general circulation.
- Government money is the fiat currency of various nations. At the moment, there seems to be a rush into US dollars as a reserve currency. Given the current US debt levels, this doesn't appear to be the wisest choice. Other national currencies seem to offer even worse security.
- Crypto-currencies are the people's currency, and offer an interesting safe haven possibility. Bitcoin is becoming the new gold, and one or two of the others appear to provide a hedge against economic collapse, but the choice of an alternative currency is fraught with risk. Some will stabilise and offer exceptional returns, and some will become worthless. Choosing between them is not a simple task.
So what do you think is the best mix of currencies. My choice at the moment is Bitcoin and silver coins, but I think I should diversify a bit.
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