Yes for US Paypal user ... PP converts BTC to USD then buys the item .PayPal fees can considerably increase transaction costs, with many platforms levying as much as 10% of the transaction amount as a fee
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Hes still doing exactly that on Hot Copper now 11years later.Did he have a horrible grandmother with a mouth full of gold teeth or ?
Yes a troll here and couldn't give it up when Banned (from memory running more than one account .I do think he does the same over on HC just look at all those GA's!!)Quote:
Originally Posted by Joshua-tree
so good old nut job SKOL moved over to Aus based forum to carrying on his rhetoric of hating GOLD ..
POG stirring and looking to get closer to US$1900. As US$ index drops below 90.
Hopefully seasonality kicks in soon, once Xmas is over.
Some interesting holiday reading:
http://www.321gold.com/editorials/ha...ton121820.html
Lots of reading but the message is that the next up leg is about to begin.
53 competition entries - still time for the 2021 competition - go gold
You're right there Wiz ......... was a great day for the goldies :t_up:
Gold up AUD $75 oz
$2,533 oz au
https://thedailygold.com/will-gold-s...tical-in-2021/
I am positive on gold for a number of reasons this year, as is Jordan Roy-Byrne but before it goes "parabolic" {as Skol would have said, before he was banned}.....Jordan is looking for a monthly close above US$2,000. Sometime this year.
Huge day for nearly all of my Goldies and even other resources shares have had a cracking good start to the new year ....I know it won't last ....but another few weeks would be brilliant
LITHIUM LITHIUM.....has the Clutha river been behaving.
rain has finally stopped ... never seen rain like it since we have lived nearby Lake Dunstan (use to be part of upper Clutha)
Lithium yes got LRS options ... had good rebound yesterday but flat today 2.1c ... actually very good buying with 2yrs to expiry ex.price only 1.2c (head share 3.3c so major leverage well in the money play)
https://www.google.com/amp/s/www.coi...aphics%3famp=1
There is growing evidence that since at least October Money has been pouring out or Gold and into bitcoin and cryptocurrency... when gold sells off bitcoin is rising ...
"This week, financial advisory firm deVere released the results of a survey of over 700 of its millennial clients, which showed two-thirds of them prefer bitcoin to gold as an investment. This means any new savings entering the market may be almost 70% more likely to be put in bitcoin than into gold."
It is interesting, both are supposedly a currency and a store of value, also possibly a speculative bet as there is no income generated by either. It will all come down to people's perception. Bitcoin wins hands down on the speculative front as far as gains are concerned. Only time will tell which is a store of value or if either of them are a store of value. Certainly a new digital currency would seem more likely if a reset of currencies are required. Also some big names in investing and banks are getting involved in bitcoin.
I think time has told us that gold IS a store of value despite it failing any asset valuation test based on its future discounted cash flows as Snoopy uses to deride bitcoin (in fact all crypto)
So gold is the perfect example of why the DFCF test might not be the only useful asset valuation.
I still like to think there should be some yield potential from an investment though, and that the investment doesn't completely hang on finding another sucker to buy it off me.
Buddy,
This is actually not true that crypto does not generate income......
With the explosion of decentralized finance (defi) you can stake you coins and get a financial return off them... paddles is actually generating nice income aswell as appreciation of assets...
...
Crypto is in a super cycle with crazy upside this year I would expect gold and precious metals to sell off as people switch their money to those savage returns....
:cool:cc
The Bit Short: Inside Crypto’s Doomsday Machine
The panic-
"This worried me. Most of my wealth was exposed in the form of Bitcoin, and Bitcoin seemed like it might be exposed to Tether. And Tether’s issuing company was under active investigation. I urgently needed to find out if this risk was real"
https://crypto-anonymous-2021.medium...e-f8dcf78a64d3
I'm looking forward to making a Mozza shorting Crypto10 ... 1:5 Leverage ...
Only matter of time before it all falls apart ..
Gold hasn't been getting much love of late ...but as we have always known its high manipulated (just look at all the fines paid to date by the Bullion banks)
I wouldn't be surprised to see the Crypto world fall apart and funds head towards the likes of GOLD/SILVER/PGM's
Personal still holding many Gold plays but most have major projects in other minerals
$AUD Gold $2373oz
Extraordinary, presumably this news will travel fast. I have always been skeptical of crypto currency but in the last few months have decided it has to many believers that sustain it. This tether story sounds credible and could be devastating for crypto.
I did a quick search, it seems to me "the bit short" is personalising stuff that has been in the public domain since last June or longer. I would be a bit apprehensive about shorting on the basis of what it says, while it might be fundamentally correct it could be a scam of sorts itself. Time will tell.
I have been thinking some more about this. It seemed very "slick" to me the article or report, I was puzzled by its intention. Then I remembered that there are organisations that look for vulnerable or dodgy public companies. They short them, write reports that they make readily available to like minded people, the word spreads through social media. The reports are negative in tone, some times exagerated or even fraudulent. Several things happen if the reports are believed. Many of the people who wanted to buy the stock either change their mind or postpone the purchase. Some holders take profit or cut losses. Ultimately the stock price plummets and the initial shorter does very well. ( I think there was an article in the Sydney morning herald on the weekend)
It seems to me the writer of the bit short is trying this scheme. It is probably fair enough if what he says is true or not aiming to mislead. I don't know enough about shorting to understand the risks. But it does seem a good set up. Let us know how it goes JB.
Have you ever talked with Crypto Bugs ?? its not like the sharemarket where companies are centralised and the market has decades of history ... Cryptos are made up assets the Crypto Bugs understand HYPE + HYPE = FACT... the guy basically exposes how fake the Buyer pressure has been as its not from real pay your TAXES Money around the world but made up tethers which are still under investigation ...
Whilst on the subject of this digital 'gold':
You may wish to try and answer the question as to why the reported daily trade value of bitcoin is very rarely less than 6% of its total market cap, and it can reach 25%.
https://www.smh.com.au/business/mark...04-p56ksl.html
No, I haven't heard of crypto bugs. Any thing I see on crypto is just sort of incidental, I don't follow them. Another impact these reports by shorters will have if lots of people lease shares and sell them this will tip the supply/demand and be down ward pressure.
LOL the guy in the article is a complete loser...
All the FUD is to scare people from their crypto so the institutions can buy your crypto cheap...
This news about Tether is not new every few years it gets a mention and the market gets rattled...
Last week it was the double spend...
In 2017 there was various FUDs which lead to pull backs but crypto was in a super cycle and went huge... we are currently in the same super cycle of 2017 this has only just begun...
It's going real big this year.. traditional gold is a mugs game and people are selling their gold to buy crypto.. when crypto outperforms every asset class times 10 why wouldn't yah....
Murc you are over complicating a very simple procedure... I bet you would love to buy crypto but you dont know how to...
I manned up and put my house deposit into crypto... I have the tools to really crack the crypto by 2025 100x minimum... because I really understand its market cycles now... and bitcoin is going to $300k this year... its gona take until 2025 then I'm retired at 40 it's probably the most simple process you could possibly imagine...
I cant possibly afford to not be apart of this...
Tether FUD can kiss my arseee...
:cool:cc
Gold is not a mugs came- plenty to be made in that space, same can be said for bitcoin- if it goes to $300k then good luck to you- I don't know enough to invest so will stay out currently. How many coins do you have? ps are you shrewd crude with a diff name? Some of your oiler investments were to be frank awful if its you 9sure you made some $ as well though).
Yabster,
Anything other than crypto is a mugs game because the opportunity cost is so high....
Crypto is at least 50 times better than oil stocks...
The sooner you do know enough the better...
:cool:cc
Hi CC
I applaud your certainty- but have been investing long enough to know there is no such thing.
Anyone predicting a 10 bagger (bitcoin is $30k as I type and you have mentioned $300k) in shares or commodities I take with a grain of salt- as I assume you would also. I also think I know where the $300k is coming from - I watched a Raoul Pal video on kitco - so I do know a little bit..
https://www.kitco.com/news/video/show/Market-Analysis/3118/2020-12-03/Raoul-Pal-makes-the-case-for-$300k-bitcoin-in-18-months-Pt-22#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.ki tco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DMarket-Analysis
What platform/wallet do you use?
There is no such thing apart from crypto man.. this is the greatest performing asset class the world has ever seen it's got legs...
I dont follow kitco !!!.. this is IMO...
I use trust wallet.. ftx.com and binance ... the trust wallet token was up 70% yesterday...
The targets are huge because this is the next layer to the internet... Michael Saylor said its bigger than the Internet itself!!!
There is no time to delay ...
Come onto the crypto thread in off market section...
:cool:cc
:cool:cc
have a look at the video- think you would get something out of it- he was very bullish on Bitcoin
Really my resource stocks keep cranking and IÂ’ll be retired in a few more months.. no need for online fiat tokens .. but if you can play it and win go hard ...
Hi JB
So are you going to cash up? I am looking at getting out of the rat race in 3 years -so hopefully can do the same.
A lot of your Goldies have done well - still wanting on CNB though- you should have stayed in HMX ;) - but its easy in hindsight!
Your telling me I took most of the funds from my HMX trade into AGC new IPO I secured free shares in from my MAG holding ... has gone down while HMX boomed higher than my 7.8c sell...
Yes I will cash up least half of the share portfolio to buy another Commercial Property hopefully debt free ..I still would like to have a good few K in the markets least 200k more than my 200k of lending in the market ... Goal was to break 1mill AUD portfolio value ... before mid-year ... really want to see the NZD lower be great to get min 10% more NZD's than AUD ... first get to end of March see want my TAX will be after costs got to be careful don't want big TAX Bill = less capital in shares so don't want to take to many more profits ...might actually sell of any losses pre April etc . .. looking at commercial sub $600k yielding 8%+ + high NBS% .. got one on the watch-list right now!!! All about Passive income so If I have a rough year in the markets I can still pay the bills etc ...
As for companies .... yes Buying more CNB back to 100k shares but think CNB will play out more mid-year like AGC and prob MAG as well
My short term drivers will be WWI Mining right EA approvals any day now will double cap intraday ... I see MEU ann. 1m splits on record Gold hits ... LONG term HOLD with MEU will grow slow but high from here ...OBM Gold production first GOLD bar any day now ..
Also Copper play CHK + LRS many metals projects play holding truckloads of long-dated opts (I really like both if they both BOOM I might well double my target)
then I've only got my HIGH risk speccy RMX opts on RARE earth play thats heating up ...
I really need GOLD to pull back in the fast lane along with REE + Cu to help all of the above ... Histrionical MARCH has been my best av month of the year(outside 2020!!!) ...growth wise for last 16yrs+ ... MAY my worst so certainly thinking about pulling so cash aside if I get some boomers during next couple of months
https://www.goldmoney.com/research/g...days-for-money
The real reason for gold’s underperformance is the establishment’s long-established antipathy towards it, something that should serve as a warning to hodlers of bitcoin. To regard gold as sound money is to turn one’s back to Keynesian macroeconomics, something the US Government, with its interest of promoting and retaining dollar hegemony has actively discouraged. In order to absorb demand for physical gold it has fostered the growth of paper markets, which can be expanded by the bullion banks at will. This policy goes beyond precious metals and includes base metals and other industrial raw materials as well, allowing the dollar to retain a more stable value measured against them than would otherwise be the case.
Consequently, bullion banks take the short side in the futures market, hedging long positions in London’s forward market. But today, the physical liquidity in London has virtually disappeared, replaced with unallocated gold, amounting to gold claims on the bullion banks. Other than the drip feed of mining supplies and scrap metal, the principal supply of physical is from leasing by the central banks which store gold in the Bank of England’s vault. But in these overtly inflationary times, it is likely that central banks will place greater emphasis on having their gold reserves both earmarked and unencumbered.
The precariousness of the situation was revealed in January 2020, when the bullion bank cohort made a determined effort to collapse open interest on Comex futures from a record 799,541 contracts on 15 January 2020. They succeeded, bringing open interest down to 469,893 contracts in early June. But while they managed to reduce open interest, they failed to reduce the monetary value of their short position.
LOL !!!!
You are feral to the touch about crypto ...
It goes up and up and up thousands and 10s of thousands of percents and you just keep saying the same thing about it...
At some point you have to zip it tight because it's getting that embarrassing for you...
:cool:cc
The others have dissipated on the subject for obvious reasons...
Now you should too...
Bitcoin heading closer to a 1 trillion dollar market value...
It's not a babe in the woods no more !!
:cool:cc
JBmurc,
Bitcoin has gone up in value 10,000% since you said no about it...
Maybe even more than that....
It's still not too late heaps of return on the table this year still...
:t_up:cc
Bitcoin $50,000us
Jbmurc "no"
Crypto "LOL"
:pcc
I guess my reason for investing in gold was fiat currency debasement. Is a whiff of inflation and possible increase in interest rates taking away golds shine.
Possibly Crypto is the new store(massive increase) of value, certainly much sexier than gold. Bad day today for my gold miners, possibly should bail while I am ahead, may need the cash for my house deposit.
Any thoughts on the direction of the price of gold near-mid term.
I will struggle not to feel a bit of schadenfreude if bitcoin takes a tumble after reading the earlier posts but well done to those investing next stop $100,000 apparently.
As difficult to value as gold I suspect.
What The global financial crisis of 2008 proved to us is that all asset values crashed... this would also include crypto...
And its coming...
I suspect late this year or early 2022 inline with a crypto besr market...
Stocks are 100% in bubble territory...
The valuation of Tesla makes crypto look like a tame pup...
:cool:cc
True gold has its booms and busts like all assets perhaps apart from NZ residential housing that the NZ government will do more for than any other asset class?)
However with relation to crypto/gold I think unlike for crypto, there will be a jewellery market for gold which may provide a floor, albeit at perhaps a low level, to any drop.
Gold doesnt go up much in value so when the global economy turns it also then doesnt fall as much in value...
Crypto does not have a physical jewellery market but it has many other facets like Defi and NFTs and many many projects that have real world cases...
:cool:cc
:cool:cc
there has been many bubbles throughout history BTC will go down as one of the largest ..
BTC is a gambling vehicle at best. The corruption, the “missing money “, Bitcoin has zero trust. No one wants it, if you keep up with fin tech. yet here the circle of elites are on Twitter promising to make everyone else rich if they follow along. You are their exit strategy CC ...
there has been many bubbles throughout history BTC will go down as one of the largest ..
From twitter >>> some posts I like>
BTC is a gambling vehicle at best. The corruption, the “missing money “, Bitcoin has zero trust. No one wants it, if you keep up with fin tech. yet here the circle of elites are on Twitter promising to make everyone else rich if they follow along. You are their exit strategy>>>>
checkout this link ...
file:///var/folders/xv/cfqv4c6x7k91z8374tjfzyr40000gn/T/TemporaryItems/NSIRD_screencaptureui_nc0zP7/Screen%20Shot%202021-02-20%20at%2011.45.39%20PM.png
Not in the Crypto thing at all but had a wee dart at DCC who have a few bitcoin as investments, in 7.8c out at 11.5c, since retreated... they have some interesting investments including a digital gold platform backed by actual gold...
Even more interesting Warren Buffett has reduced all gold exposure, usually he'd be accumulating at these levels.
Still have all my physical silver so enjoying the wee run and feel more to go, can also see Gold moving back towards US2000/oz next 3 - 6 months, am watching support levels though, seems to be holding above 200 day ma
My direct gold exposure currently is with DEG, I like the story re Hemi, also have a few CBY although mostly copper
Jbmurc you have been calling bitcoin a bubble and all sorts of names for at least the last 10,000% of returns...
The nerve of you to be so ethical but yet you invest in unethical resource stocks all for profit
Oh no Shasta !
What a blunder!
The one opportunity to really get ahead ...
Its not too late...
Crypto is going big this year real real big ...
...
Not at least diversfying into crypto is Pure negligence to one's wealth...
...
Its safe to say that Finance and investing is not for you !
You would be Better off playing kick ball
Hi Shasta, Buffet,s recent buy...Barrick...at the top of the current market, then he sold after a few months at the bottom....is puzzling. It goes against all his buy and hold strategies. Helpful comments, or theories from anyone?
Airedale,
We are in historical stock market bubble pop...
When it actually unfolds is anyone's guess, I figured it would be later into the year next year but I guess he's seeing we are in a mega mega bubble and is quietly moving his money away now...
And,
Even though he is not meant to have any more information than anyone else, he would ... so it could also be specific to the company aswell...
Yes You either believe in magic or you believe in math. If you believe in math, buy gold.... as it seems monetary policy is being run in a belief of pure Magic that creating Larger and Larger Bubbles will all just deflate nice and orderly ...Quote:
Originally Posted by Shasta
As to Silver Bullion yes I'm still holding and will continue to add to my own real kiwi-saver
As to Bitcoin .... when you compare it to Silver its polar opposites ... one is cheaper than it was 40yrs ago the other is up 50,000x its value last 10yrs
One is used in 10,000+ applications the other has Zero Utility value..
One would not be here if it wasn't for the other >>(I did a poll on Twitter the Question what would you give up ... Silver or Crypto in any form... only got votes from Crypto Bugs ... so they basically didn't ever want to use most technology ever again .. thats how stupid they are throw out your smart phones computers anything with a chip, switch anything that needs an excellent conductor of heat and electricity .. )
One has limited near surface supplies the other is a "Digitally randomly generated hexadecimal 256 bit number" that could be replicated by anyone !! trillions of time a day ...
Great piece by the programmer thats into AI and machine learning..
https://twitter.com/InvestmentDrone/...573889/photo/1
I see yearly Gold demand is around 4000t(just under 4k for 2020 because of COVID) which equals 128Moz of Gold needing supplied pa ... now some will come from scrap around 10% so least 118Moz of Gold Production needed pa ...
Gold mine production totalled 3,531 tonnes in 2019, 1% lower than in 2018, according to the World Gold Council. This is the first annual decline in production since 2008.
Top 10 biggest Gold mines in the world
https://www.mining-technology.com/fe...0the%20surface.
https://www.bbc.com/news/business-54230737
I can't seem to find anything on how many oz of Gold have been discovered yearly of late ... I know Aus Production is dropping very sharply over this decade
Gold bouncing as i watch the minute Gold chart, a response to the re US$1.9 trillion stimulus package?
Puzzling to say the least, maybe the old fella losing his touch, he stays away from what he doesn't know, so is this his endorsement that the US is looking up?
So much paper debt floating around, stimulus payments, wage subsidies etc, I'm picking things to get worse before they get better, gold and silver best placed to benefit.
Oh yeah but gold is actually falling in value...
Why?
It is being replaced by cryptocurrency...people are switching...
.....
....
Is gold and silver best placed to benefit?
Well historically not!!
As we saw in the 2008 global financial crisis all asset classes including gold and precious metals got butchered...
Gold moves far too slowly to make any material difference to one's wealth anyway... unless your trading on leverage or you have considerable investment then your just not going to return enough.... young kids these days are heading backwards with these sorts of investments...
Even back when I was trading the most speculative oil investments, that still wasn't enough to really get ahead fast.... but now with the crypto I can really motor and make a huge difference...
With cryptocurrency returning so much in value then holding gold is for fools ....
There is growing evidence that when crypto goes up Gold sells off ...
Its unreal your not interested in crypto Shasta...
This is your one change to really get ahead...
Not with this fools money that barely even moves much...
Gold and silver are historically some of the weakest performing assets ever...
Lame ideasssss
I don't think this post will age well ... Silver is one of the most important elements on Earth, and one of the most useful metals in modern-day society. Silver’s immense electrical and thermal conducting properties are perfect for electrical uses, making it highly in-demand in our heavily technology-based world. Whether you realize it or not, silver plays a huge role in our everyday life
Both Gold and SILVERs Demand outstrips supply YoY recycling meets demands ... all forward metrics shows higher costs to extract = lower production
If you don't believe in more electronic demand going forward then yes metals down .... Tesla alone will soak up 6%+ of Silver supply pa by 2025> if targets are reached
BTC $47k .... has the high been reached ?? down from here
Gold has barely returned 200% over the last 100 years.. and in the last 10 years has only increased by 33%...
This is an absolute joke, are you trying to have a laugh...
I don't have 100years to return those numbers I've already done more than that this year alone!!!
You will be a dinosaur 🦕 before you do anything useful with your stones...
Eventually new technologies will come along and replace old systems... they will either discover a new resource that does multiples of what silver could do....or they will need much less of it...
Or they will tow an asteroid back to Earth that makes silver worthless...
Or new technologies like crypto could make silver redundant...
....
With crypto the opportunity cost is the highest its ever been...
Anyone serious about their financial wealth could not take these stones serious anymore...
But perhaps as part of a balanced portfolio, maybe... even then...
Its a no from me...
Eventually your stones will only be useful for a game of tindelywinks...
https://www.macrotrends.net/1470/his...100-year-chart
Well #1 I don’t hold any physical gold got some Silver bullion ... most of my Gold investment comes in the form of ASX Gold shares OBM paying 11c selling many 50c etc CNB 7-8c selling 40c average ..all months later(have brought back into both) WWI .5c hit 2000% ....Years ago RMS as a brilliant buy getting in 5c I sold way early 40-50c range was over $2 last year ... is the reason we have a Debt free home in my early 40s with many other assets ...
The idea Gold Silver are going to be replaced by Digitally randomly generated hexadecimal 256 bit number" is a pipe dream ... drinking way too much crypto coolaid
As an investment vehicle its already happening...
I have seen the evidence that when crypto goes up gold prices fall...
...
Hedge funds and instos are selling gold for crypto....
Its about as simple as that !
...
There's nothing solid to back the likes of bitcoin etc, its basically an elaborate ponzi scheme, are those who bought in under US10K still holding?
You need in new money to exit, nothing wrong with gambling, but pretty much all it is. Crypto is getting pumped by the likes of Tesla's bold investment
Gold and Silver in particular, we know has many uses and having previously been the banking standard wont be forgotten when the new digital age hits the financial institutions and wider market, it just wont be the likes of Bitcoin doing it.
Once the Bitcoin fad fades out, Gold and Silver will still be around...
Make the money in Crypto while you can Crude, next big thing is clean energy and metals play an important part
Shot buddy....
I'm planning to short crypto next year into the millions...
Might as well get the business done there's never been assets like this before....
Fad or not I'm going to get this business done so I can rest up and raise a family....
Crypto will run its cycles but its here to stay for good...
What a time to be alive !!!
Alchemy can produce gold from lead at great cost.
Some asteroids have precious metals at higher concentrations than here. By the time an asteroid can be harvested of its metal either in Space or by (safely) bringing it to Earth, I wonder what would be the expense per ounce?
Just imagine the cost and the risks ...I would think we will just see higher and higher cost resources being mined on earth like we have seen last 50yrs and if the price falls too low the miners stop and projects go on C&M till the paper market traders push well above costs ... I know in Aus (2nd largest producer of Gold in the world if the AUD price falls and stays below $1600oz many projects would go on C&M)
I see real Bullion sales have been on fire of late while the paper prices have been forced down the demand increases... I heard Perth mint stopped taking orders recently.. funny MSM says weakness in PM yet the real numbers say otherwise
https://twitter.com/gloeschi/status/...474574850?s=21
C&M= Care and maintenance is a term used in the mining industry to describe processes and conditions on a closed minesite where there is potential to recommence operations at a later date....
BTC positives likely outcomes
https://www.youtube.com/watch?v=H8R9vz94uXU
BTC to ZERO
https://www.youtube.com/watch?v=7pnyBuSK3iQ
LOL jbmurc,
Watching your crypto links is bad for ones portfolio...
You have already kissed more than 10,000% return good bye ....
....
Imagine what you could have done as an early adopter....
I'm sure you will get to your dreams the long way...
yes in hindsight I should have taken the punt BTC $600 years ago ...but no way I would have put more than a couple K as a pure gamble ...anyone that put hard earned NZD into BTC has certainly done well but that doesn't mean the price is going continue to rise... as we see at present the price has free-falling from high 50k to low 40k is at present 44500 levels .. I wouldn't be surprised to see move pretty fast towards 10k levels
Not really sure where else to post this, but a link below to a (US centric) research letter on why we could be heading to a bull cycle on precious metals.
https://www.crescat.net/february-research-letter/
Very good reading ..I 100% agree with the research
Very interesting looking at my portfolio open and its looking likely to open GREEN ????? after GOLD got crushed friday night ...looks like trillions stimulus going be a major driver this week ..over month end smackdown thats very common these days to see strong move north .... GOLD 1800+ next few weeks ??
LOL jbmurc
"I wouldn't be surprised"
LOL
Who knows where it going but I believe it should be worthless.
The central banks are still printing money hand over fist, they aren't selling their gold. Will rising interest rates mean gold without a yield is less attractive? My portfolio is looking a lot sadder these days and today might see it drop even worse. Is gold's role as a store of value over? Are the digital currencies coming out of the ether in unlimited quantities really a replacement?
I am worried that gold's day might be done. I guess I should press on with a house purchase and cash in my gold miners.
Aaron...
Wow buddy...
You are so so wrong man...
There is an unlimited amount of fiat currency chasing a limited amount of cryptocurrency ..
Step back and think about it...
Please !!!!!
IMHO
Yes CB will continue to print ... and rates may be force higher but hardly enough to stress about ... there is just far to much debt to increase more than token amounts
Golds demise has been pumped before every great run higher ..
Crypto’s aren’t a replacement but if you believe and trust the MSM then they are ...
As for resident property personnel if I could get my wife on board I would sell our home and use the funds to purchase another commercial property
At present value I could get around 100k Pa in extra income... and rent ...
As too your S/H In The PM sector .. you still holding CWX it did double recently..,OBM pushed down id the back of AUD gold losing $500oz ... but they will still be making a profit when Gold resumes Bull trend they will be prime.. CNB strong buy not only on their great Gold projects but very High grade Cu prospects.. I actually sold my RXL position for a profit to buy more CNB
Yep still have CWX OBM & RXL winter ski trip looking less likely as they are supposed to double by June this year. CWX has come back a bit but the news sounded positive.
I was concerned in the ASX stock picking comp when your picks did not include any of those three companies. I didn't put $20.00 into the pot as I was uncertain, but thinking about it further losing $30,000 might be a bit more painful than losing $20 as it is faith based investing I should have thrown in the $20 as well.
I wouldn’t stress to much on your holdings you must be up around 75% on CWX ... yes RXL has been dog of late ...purely as mgmt don’t seem to be proactively driving the company forward keeping their word etc instead taking the slow road ... I actually sold my RXL because of this with the plan to get back on board after my much shorter timeframe investments namely WWI,CHK,LRS ..deliver company making results and muti bag
not picking in comp yes so hard to narrow down to just 5x I’m currently holding 12x companies all with 100%*+ potential next several months ...,I really could of had three different comp entries and not favoured one over the other ...
Personally think you will make your winter holiday plans as so much can happen next 3-months
I admire your optimism.
I am hopeful for gold due to ongoing printing but interest rate rises and a crypto buzz is taking the shine of gold. Not sure if it is long term change of direction or not. Gold prices are at historically high levels already but then interest rates are historically low and central bank money printing is historically retarded. If I was a good computer programmer I could write up my own crypto currency but it is a bit harder getting gold from the ground.
In the first five months of last year, Switzerland shipped about 286 tons of gold to the U.S. – more than it had in all of the preceding 10 years combined, according to Standard Chartered Bank.
https://www.usatoday.com/story/news/...ic/6891285002/
Sorry I missed your post, other than Bitcoin. Ethereum (ETH) Litecoin (LTC) Cardano (ADA) Polkadot (DOT) Bitcoin Cash (BCH) Stellar (XLM) Chainlink. Binance Coin (BNB) ,Tether, Monero.
Need I go on. I could add the USD, NZD, AUD, with those last three digital currencies we have all obviously given up hope that the the controllers will act responsibly and maybe restrict supply to the growth of their respective economies.
Bitcoin sounds like it is ahead of the pack due to its programming but at the end of the day the programmer can always go and change the program if it suits. Apparently you can't for bitcoin but the price action doesn't indicate it is a store of value. That said some very smart people have been jumping on the bitcoin wagon and you can't argue with the results as that is all that really matters.
Yes ART like and Religionless zeal .... I believe IMHO best sums up BTC rise .... anyone seen those crazy prices some people would be happy to pay for ART that I wouldn't even want on my wall >>> then take that same fanfare ... and put a dose of Religionless zeal .... aka ....(I'm sure CC can help me here)
"Petro dollar is dead BTC is the new World Standard" (Religion)
"Only 21 million ever !!!!" (ART like)
"have fun staying poor !!!!!!!!!!!!!" (I could imagine the same type people telling me I'm going to HELL if I you don't follow their Religion !!)
"BTC is going to take over the world" (Religion)
... and to answer CC comment --you are so wrong man --there is an unlimited fiat chasing Crypto... ok lets say your right and Billions of Fiat flow into Crypto(at present more fiat tethers flow to drive BTC price much less fiat but lets just take that Crypto dreamland) .....
#1- Not like Crypto's can't increase -(In the US alone 50,000 new worthless cryptos created) ---
https://hard-money.net/is-american-m...st-year-alone/
#2- Ok the lemmings pump billions into Crypto ....but then those same lemmings want something real as whats the point having mega dollars in Crypto... Iphone , lambo ,house etc etc ... these along with millions of products need real materials not digital ART .... thats when the lemmings are holding the BAG while other like myself hold real assets via Bullion and shares in the companies Copper Gold Silver Property ... and I along with 99.99% of us don't want your Digital Tokens .... NZD AUD thanks or F#4k OFF
Copper demand GAP https://twitter.com/giginator_/statu...543363/photo/1
JBmurc,
Last week bitcoin was at $43,000us and you were saying its going to $10,000...
Its now at $57,000us...!!!
And its going much much much higher...
You have completely stuffed up with crypto and your whimpering about it... yourve been saying the same thing about bitcoin it was $200us...
You probably even knew of it when it was much much much lower in price than that...
Bitcoin is the biggest financial mistake (by far) that you ever made in your life...
Instead of embracing this massive growth asset you just keep going down the rabbit hole...
... its not too late at all... read my last post on the crypto page, these altcoins are still trading at cents in the dollar... its only just started man...
!!
...
Pull your head in immediately and buy today !
Mind you golds value is faith based as well. It has a longer history as a currency but if all the world banks said it was a relic of the past and sold their gold holdings tomorrow it has very little value. Like any currency once faith is lost it would happen pretty quickly which is what I expected to happen to some fiat currencies such as the yen but that hasn't happened.
No one is suggesting that is about to happen but I wonder if there is somewhere we can look at whether central banks are buying or selling gold.
No I'm happy with my real investments with much lower risks ...one day BTC will be old TECH it will be all but GONE Sega master system .... I see my WWI.asx (real Gold Company) hit 2000% from my first purchase ... Got $106K AUD invested ... LRS ...up 1600% to date Got 180k AUD invested both got REAL 10 Bag upside next couple years ... Geez I'm happy with one Bag with the rest of the portfolio ... Copper Gold Halloysite Kaolin Lithium all have ongoing demand outstripping forward supplies ...
Me whimpering ... yeah I'm real whimpering chilling back in my DEBT free Million+ home ... how am I going to ever survive if I don't sell up and become another
Crypto nut .... dreaming of having want I'm on the road to securing from the path in front ?????
Yes Bank of England eventually sold about 395 tons of gold over 17 auctions from July 1999 to March 2002, at an average price of about US$275 per ounce, raising approximately US$3.5 billion..... decade later $1900oz USD was hit ...
Gold history of money was challenged throughout time.... China for a time had a Fiat Paper money But it failed like they all did ... guess what its always held its value and risen ? and never has it become worthless 5000yrs+ and counting