"Looks as if #Bitcoin is eating #Gold". Good idea to buy some Gold now? - page 2.

cabalism13

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Quote from: mindrust on March 18, 2021, 06:29:38 AM

Imo Gold is now very cheap.

Might that depends on a place? Gold here is still pricey and more valued than Bitcoin or any form of currency.
So investments on gold here is not an option, people here might just want to invest on land.

Quote from: mindrust on March 19, 2021, 03:46:52 AM

You'll want that gold backed currency but how are you gonna get it if your whole assets collapsed against gold and you have no gold?

Good Question, but too far from reality as we are already out on Stone Age Tongue

most of the people now wants that piece of paper than anything.

SquallLeonhart

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Quote from: Mauser on March 15, 2021, 05:12:21 AM

I am not sure about this because the gold price is also fairly high right now. I have been holding some gold index funds for a while now and think it might be better to take a profit in Gold rather than Bitcoin. If the corona pandemic is really over now than the stock market should be taking off again. I might switch my gold into stocks for now.

Gold prices are not at the peak right now, it dropped a bit, I think it will not be like this for a long time but it also did dropped a lot so we can't argue that we should take out our profit right now. If you took it out during the peak I wouldn't be against it, but you could wait a bit more if you ask me.

However if you are going to end up buying bitcoin with that money I would suggest you to do it right away, bitcoin will always move faster than gold, gold is very slow whereas bitcoin is very volatile. I am sure during a period when gold goes up 50%, bitcoin could drop 50%, increase 3x, drop another 30% and increase another 3x and it would still have time left as well. That is why if you are going to buy bitcoin with that money you could sell your gold, but if you are just waiting to get back into gold, then I would say being a bit more patient.

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Quote from: mindrust on March 19, 2021, 03:46:52 AM

Quote from: jaysabi on March 18, 2021, 10:08:34 PM

This takes too many things for granted to be accurate. First of all, being on the gold standard just means the currency is backed by gold. If we "went back to the gold standard" that wouldn't mean you need gold to operate in the system since your currency would be redeemable for gold. Further, people without gold wouldn't simply die for a lot of different reasons.

I didn't want to mean that you die, literally. You'll die financially.

If gold becomes the main thing again, gold will shoot up and everything else will be worthless compared to it.

You'll want that gold backed currency but how are you gonna get it if your whole assets collapsed against gold and you have no gold?

Gold standard or not, owning some physical gold is just smart. Diversification.

Owning some BTC is just smart too, BTC and Au have different "fundamentals" so each is good diversification.

mindrust

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Quote from: jaysabi on March 18, 2021, 10:08:34 PM

This takes too many things for granted to be accurate. First of all, being on the gold standard just means the currency is backed by gold. If we "went back to the gold standard" that wouldn't mean you need gold to operate in the system since your currency would be redeemable for gold. Further, people without gold wouldn't simply die for a lot of different reasons.

I didn't want to mean that you die, literally. You'll die financially.

If gold becomes the main thing again, gold will shoot up and everything else will be worthless compared to it.

You'll want that gold backed currency but how are you gonna get it if your whole assets collapsed against gold and you have no gold?

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Quote from: mindrust on March 18, 2021, 10:14:15 AM

Quote from: oHnK on March 18, 2021, 07:55:44 AM

Quote from: mindrust on March 18, 2021, 06:29:38 AM

I think everybody should own some Gold whether they like it or not. It is like an insurance. Bitcoin is seen as an insurance too but there is still a possibility that bitcoin can fail but gold has proven its worth over 5000 years as the ultimate store of value.

Diversification is the key. Get some gold, get some crypto, get some FIAT, get some stocks, some real estate... Sell the one that has mooned and buy the one that is still cheap.

Imo Gold is now very cheap.

Asset diversification is indeed a mainstay of large investors because by implementing a good portfolio strategy you can increase the wealth you have invested. Not only nowadays, but people have always used gold as one of their safe assets so that they can mitigate if the volatility of other assets is bad enough. However, the proportions given are quite difficult choices. Because the higher the return, the higher the risk. Gold is an asset that is quite low in risk compared to other assets and that is why the price of gold is not very attractive to invest in in the short term.

If the whole systems goes down and people go back to the gold standard, then you'll have 2 options:

1- You have some gold and survive.

2- You don't have any gold and die.

This takes too many things for granted to be accurate. First of all, being on the gold standard just means the currency is backed by gold. If we "went back to the gold standard" that wouldn't mean you need gold to operate in the system since your currency would be redeemable for gold. Further, people without gold wouldn't simply die for a lot of different reasons.

oHnK

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Quote from: mindrust on March 18, 2021, 10:14:15 AM

You shouldn't see it as an investment. I mean, it is an investment but it is more of an insurance.

There might be a time in the future where you'll need physical gold. I am not talking about the gold in your bank account. I am talking about a mad-max like scenario. Gold will be your hedge against the full system collapse.

It is a life insurance.

What happens when your home catches fire and you don't have an insurance? You'll lose your house and get nothing from anywhere to compensate the damages.

The same idea applies.

If the whole systems goes down and people go back to the gold standard, then you'll have 2 options:

1- You have some gold and survive.

2- You don't have any gold and die.

You can apply the same logic to bitcoin as well. If the whole world wants to use bitcoin as the new reserve currency, it is probably good idea to have some around. Diversification...

Maybe I am getting too used to seeing all assets as investments. Indeed, on the other hand, the assets we have can be used as insurance for life today. The investment concept is the same as the advanced version of savings. When talking about savings as life insurance, this is the basic thing that everyone thinks. Indeed, the fact is that by having assets such as gold and bitcoin, the bad conditions we experience can be covered by assets that we have set aside from all the necessities of life. Income = Expenses - Saving. With this concept, life can be maintained in the future. And if you choose the type of asset, the financial concept is used so that it can generate great benefits.

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Quote from: MCobian on March 15, 2021, 04:15:25 AM

It's a very good idea to take some profit from Bitcoin to buy Gold, because the current Bitcoin price is quite high to sell. Moreover, Gold is one of
the oldest assets which has proven to be very good for holding in the long term. Sometimes to make us richer, we do have to invest in more than
one asset. For now I invest not only in Bitcoin and Gold, but I also invested in Real estate which proved to be good for long term investment too.

If you are going to do something like that then make sure that you are fine with holding your gold for decades, people already have some problems holding their bitcoin but gold takes an even longer amount of time to show great profits, time that you could have used to invest in something else and then make money that way as well, however investing in gold is one of the safest options there are and can be extremely profitable if done at the right time.

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Quote from: wheelz1200 on March 18, 2021, 06:34:34 PM

Yeah bitcoin has definately gained ground. There will always be a space for fine metals and gold is king. For me I always think buying any long term investment amongst a nice dip is always smart. Buying multiple asset classes is smart. No need for full exposure with just one asset and leave yourself apt for some wrecked years.

The classic rule that you should not keep all your eggs in one basket should be the law for any investor Wink

It's just that bitcoin and other cryptocurrencies have now been added to the classic market assets such as bonds, stocks, and precious metals. One thing, of course, will not replace the other, and you should not have any illusions about this, so the diversification of the investment portfolio and the determination of the shares of assets in the portfolio should be the main task of the investor.

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Yeah bitcoin has definately gained ground. There will always be a space for fine metals and gold is king. For me I always think buying any long term investment amongst a nice dip is always smart. Buying multiple asset classes is smart. No need for full exposure with just one asset and leave yourself apt for some wrecked years.

conected

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Quote from: mindrust on March 18, 2021, 06:29:38 AM

I think everybody should own some Gold whether they like it or not. It is like an insurance. Bitcoin is seen as an insurance too but there is still a possibility that bitcoin can fail but gold has proven its worth over 5000 years as the ultimate store of value.

Diversification is the key. Get some gold, get some crypto, get some FIAT, get some stocks, some real estate... Sell the one that has mooned and buy the one that is still cheap.

Imo Gold is now very cheap.

- There's no denying that gold has been a very good asset over time but because we consider it as a store of value, that makes the price of gold relatively stable every year and if we invest too little, profits cannot be satisfied according to our needs, more investment will make us do not have the capital to diversify investments. So, before we confirm the idea of buying gold, we should look at our total capital, if it is really not enough for too many types of investments, bitcoin is still a choice that offers more opportunities regardless its risks

mindrust

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Quote from: oHnK on March 18, 2021, 07:55:44 AM

Quote from: mindrust on March 18, 2021, 06:29:38 AM

I think everybody should own some Gold whether they like it or not. It is like an insurance. Bitcoin is seen as an insurance too but there is still a possibility that bitcoin can fail but gold has proven its worth over 5000 years as the ultimate store of value.

Diversification is the key. Get some gold, get some crypto, get some FIAT, get some stocks, some real estate... Sell the one that has mooned and buy the one that is still cheap.

Imo Gold is now very cheap.

Asset diversification is indeed a mainstay of large investors because by implementing a good portfolio strategy you can increase the wealth you have invested. Not only nowadays, but people have always used gold as one of their safe assets so that they can mitigate if the volatility of other assets is bad enough. However, the proportions given are quite difficult choices. Because the higher the return, the higher the risk. Gold is an asset that is quite low in risk compared to other assets and that is why the price of gold is not very attractive to invest in in the short term.

You shouldn't see it as an investment. I mean, it is an investment but it is more of an insurance.

There might be a time in the future where you'll need physical gold. I am not talking about the gold in your bank account. I am talking about a mad-max like scenario. Gold will be your hedge against the full system collapse.

It is a life insurance.

What happens when your home catches fire and you don't have an insurance? You'll lose your house and get nothing from anywhere to compensate the damages.

The same idea applies.

If the whole systems goes down and people go back to the gold standard, then you'll have 2 options:

1- You have some gold and survive.

2- You don't have any gold and die.

You can apply the same logic to bitcoin as well. If the whole world wants to use bitcoin as the new reserve currency, it is probably good idea to have some around. Diversification...

Trinx01

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Investing in both assets is a good thing, there are a lot of benefits that we can have for investing in bitcoin and gold, but as of now I still haven't tried investing in Gold because I am still focused on bitcoin which is what I love and believe that it could still go up but now I am already planning to invest in Gold so that I could give it to my future children whenever I wasn't able to teach them about the crypto world.

oHnK

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Quote from: mindrust on March 18, 2021, 06:29:38 AM

I think everybody should own some Gold whether they like it or not. It is like an insurance. Bitcoin is seen as an insurance too but there is still a possibility that bitcoin can fail but gold has proven its worth over 5000 years as the ultimate store of value.

Diversification is the key. Get some gold, get some crypto, get some FIAT, get some stocks, some real estate... Sell the one that has mooned and buy the one that is still cheap.

Imo Gold is now very cheap.

Asset diversification is indeed a mainstay of large investors because by implementing a good portfolio strategy you can increase the wealth you have invested. Not only nowadays, but people have always used gold as one of their safe assets so that they can mitigate if the volatility of other assets is bad enough. However, the proportions given are quite difficult choices. Because the higher the return, the higher the risk. Gold is an asset that is quite low in risk compared to other assets and that is why the price of gold is not very attractive to invest in in the short term.

mindrust

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I think everybody should own some Gold whether they like it or not. It is like an insurance. Bitcoin is seen as an insurance too but there is still a possibility that bitcoin can fail but gold has proven its worth over 5000 years as the ultimate store of value.

Diversification is the key. Get some gold, get some crypto, get some FIAT, get some stocks, some real estate... Sell the one that has mooned and buy the one that is still cheap.

Imo Gold is now very cheap.

jaberwock

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Quote from: Mauser on March 15, 2021, 05:12:21 AM

Quote from: MCobian on March 15, 2021, 04:15:25 AM

It's a very good idea to take some profit from Bitcoin to buy Gold, because the current Bitcoin price is quite high to sell. Moreover, Gold is one of the oldest assets which has proven to be very good for holding in the long term. Sometimes to make us richer, we do have to invest in more than one asset. For now I invest not only in Bitcoin and Gold, but I also invested in Real estate which proved to be good for long term investment too.

I am not sure about this because the gold price is also fairly high right now. I have been holding some gold index funds for a while now and think it might be better to take a profit in Gold rather than Bitcoin. If the corona pandemic is really over now than the stock market should be taking off again. I might switch my gold into stocks for now.

Gold versus Bitcoin will always result with bitcoin here, we are talking about bitcoin on bitcointalk what do you expect. I have never been fan of gold being this valuable as well, I get that it is used in some stuff and that is why it has a value but let’s be honest with each other, it is not like it is iron or something that is used everywhere and that is why it has a value, gold is more financial speculation asset and nothing more, there are more people gambling on gold prices everyday compared to number of people who buy it for real stuff, like rings or whatever.

That is why I think it is quite important to realize gold is not really as valuable as it is right now, if we remove all the traders and just let regular buyers who use it to buy it physically, we will have a much much lower price for gold. But in the long run it will go up slight bit every year so people still invest into it.

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Quote from: MCobian on March 15, 2021, 04:15:25 AM

It's a very good idea to take some profit from Bitcoin to buy Gold, because the current Bitcoin price is quite high to sell. Moreover, Gold is one of
the oldest assets which has proven to be very good for holding in the long term. Sometimes to make us richer, we do have to invest in more than
one asset. For now I invest not only in Bitcoin and Gold, but I also invested in Real estate which proved to be good for long term investment too.

I am not sure about this because the gold price is also fairly high right now. I have been holding some gold index funds for a while now and think it might be better to take a profit in Gold rather than Bitcoin. If the corona pandemic is really over now than the stock market should be taking off again. I might switch my gold into stocks for now.

MCobian

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It's a very good idea to take some profit from Bitcoin to buy Gold, because the current Bitcoin price is quite high to sell. Moreover, Gold is one of
the oldest assets which has proven to be very good for holding in the long term. Sometimes to make us richer, we do have to invest in more than
one asset. For now I invest not only in Bitcoin and Gold, but I also invested in Real estate which proved to be good for long term investment too.

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Quote from: jaysabi on March 14, 2021, 12:31:09 AM

Quote from: Vishnu.Reang on March 07, 2021, 09:56:00 AM

I strongly believe that one of the reason investors are getting rid of gold is because it is more vulnerable to confiscation. The government, with the multi-trillion stimulus measures is fast running out of cash. The federal debt is ballooning. The only way for them to move forward is wealth confiscation. In Cyprus they targeted the savings bank accounts. But I have a feeling that this time it will be worse. The governments will start confiscating equities, bullion and real estate. They will implemented the tried and trusted method of stealing from the top 10%, to feed the remaining 90%. This may be one of the reasons why assets such as Bitcoin (that can be protected from confiscation) is rising, while physical assets such as gold and silver are going down.

This isn't true, the government literally can't run out of money because it creates the money supply. The way to move forward isn't wealth confiscation, it's either austerity to get the deficit under control, or monetizing the debt by having the Fed continue to buy treasury issues which increases the money supply. There will not be confiscation in the US, property law is too much ingrained into the system and undermining that would be far worse than any benefit of confiscation.

While I think that governments are going to print their currencies to oblivion we must always be on our guards, if things begin to go that badly for the economy every single measure is going to be over the table and as much as we believe that people are not going to allow a government to take confiscatory measures when people are desperate they are going to be fine with almost any proposal that governments make and if that includes losing part of their freedom and part of their wealth in order to restore order to the economy and society in general they could agree to it.

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Quote from: Vishnu.Reang on March 07, 2021, 09:56:00 AM

I strongly believe that one of the reason investors are getting rid of gold is because it is more vulnerable to confiscation. The government, with the multi-trillion stimulus measures is fast running out of cash. The federal debt is ballooning. The only way for them to move forward is wealth confiscation. In Cyprus they targeted the savings bank accounts. But I have a feeling that this time it will be worse. The governments will start confiscating equities, bullion and real estate. They will implemented the tried and trusted method of stealing from the top 10%, to feed the remaining 90%. This may be one of the reasons why assets such as Bitcoin (that can be protected from confiscation) is rising, while physical assets such as gold and silver are going down.

This isn't true, the government literally can't run out of money because it creates the money supply. The way to move forward isn't wealth confiscation, it's either austerity to get the deficit under control, or monetizing the debt by having the Fed continue to buy treasury issues which increases the money supply. There will not be confiscation in the US, property law is too much ingrained into the system and undermining that would be far worse than any benefit of confiscation.

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Quote from: Vishnu.Reang on March 07, 2021, 09:56:00 AM

I strongly believe that one of the reason investors are getting rid of gold is because it is more vulnerable to confiscation. The government, with the multi-trillion stimulus measures is fast running out of cash. The federal debt is ballooning. The only way for them to move forward is wealth confiscation. In Cyprus they targeted the savings bank accounts. But I have a feeling that this time it will be worse. The governments will start confiscating equities, bullion and real estate. They will implemented the tried and trusted method of stealing from the top 10%, to feed the remaining 90%. This may be one of the reasons why assets such as Bitcoin (that can be protected from confiscation) is rising, while physical assets such as gold and silver are going down.

Smart people are aware of history, those that say that gold is better seem to conveniently forget there was a time in which the US government basically made illegal for their citizens to hold gold and confiscated the gold that was in private hands, while economists tried to make it seem as if the crisis of 2007 was worst than the great depression that is false, if something as big as that happens now then I can clearly see governments turning to confiscatory policies way worse than that and they may even demand that you give them your bitcoin, which is why it is important to remain silent about your bitcoin holdings.

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