OT- Bitcoin
- Thread starter redwine65
- Start date
The difference with the BTC ETF and other ETF's, especially GLD and SLV is they cannot manipulate quantities out of thin air.
The GLD is maybe 200 X's the actual supply of gold, whereas, BTC has a finite number that can ever be mined. (Not including how many BTCS have been lost over the years by people forgetting their seed word sequence?).
Those that own the GLD ETF think they own ounces of gold, when in fact, all they will own is paper, their settlement will be USD not real gold.
Those that own BTC, actually own BTC. Those that will purchase the BTC ETF are going to own paper. Big difference.
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Are your silver and gold holdings in actual bars/bullion? If so, how do you store them, safe deposit box?
Yes to both….or in my gun safe. However, it’s not like I can shave off some gold and pay for stuff so maybe it’s just more cosmetic than anything.
The thing I always ask myself is….if gold is so valuable then why do they accept my “worthless dollar” as payment?
Always ask the next question….
No, but some unnamed guy promised it’s good….so they have that to hold on to😂😂😂
Yep….always ask: what door do I knock on to redeem this for tangible cash….there’s your answer.
I'll give you a half-assed answer ok, RBig? Of course it is all physical. More than a couple bars, more than a couple coins, and more than a couple Karatbars. (These come in 50 gram (@ 1.6 oz or small rectangular pieces of gold you break off, kinda like a Hershey bar, to use to make smaller purchases.
Instead of my wife taking a 1/2 oz gold coin to buy something, just break off the appropriate amount from a karatbar. I.E. if gold is 2,000.00 and ounce, that would make each small part worth about 40.00. Each karatbar is 50 grams, as I said. 1 ounce is 31 grams, so it's separated by 50/1gram units you break off).
If you want to buy stuff from a farmer, of course gold will be fine if you're making a large purchase, but the more appropriate thing would be silver coins. Farmers will be glad to take either. The point will come that farmers and most retailers will not accept nothing (thinK USD) for something that is real, think their product.
I DO NOT, and I definitely recommend YOU or anyone else DO NOT keep that or any other monetary asset in a bank safety deposit box. Why? Because in the event of a collapse, or an extended national emergency you will NOT be able to get into your safe deposit box without having a Dept of Homeland Security agent standing next to you.
In honesty, they will probably clear out all the value things, money, gold, diamonds, etc before you are ever allowed in the bank.
This comes directly from friends who went through Katrina and other disasters where the local economy stopped for a period of time. I'm lucky enough to have friend who lived in both Argentina and Venezuela, so I have some good ideas of exactly what happens in a country when things totally break down. I.E. what you need to have a lot of, what is best to trade or barter for any needed goods, etc. What runs out, what simple items become very valuable in that scenario.
A prudent man senses danger and takes precautions, an ignorant man ignores what is happening and suffers the consequences. A basic spin on Proverbs.
If you trust the government to do the right thing, then do what you'd like. Just don't expect to see much in your safety deposit box when you open it.
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Appreciate your perspective and thanks for the insight!
Yes I have. They sell them on ebay for a few bucks. It's not an actual Bitcoin, its just a Bitcoin coin worth not much.
An actual Bitcoin is worth anywhere from 26K to 64K, and when shit breaks, maybe .5 Million a piece.
It's not going anywhere, its just a matter of what its worth. I've seen it go anywhere from .08 to 64K, but the average price over the entire time is 22K.
The only people that dog it are those that are pissed they don't own any. I don't hear people bitching about not having any Berkshire-Hathaway. That was cheaper than shit years ago too.
I cashed 1/8th of 1 coin, or .125% of one when it was 64K, got 8K back off my original investment of ONE PENNY, and maintain 99.875% of my total holdings if I only bought 1 at .08. I bought a bit more than one at that price in '09.
I've had a fantastic return from my initial and subsequent purchases. If it goes to zero tomorrow, I'm already whole.
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I'm not telling you or anyone what to do, I just convey what I do. You do what makes sense to you.
But, we don't live in Kansas anymore (thank goodness). Do you really trust the govt to do the right thing?
so, you've successfully found someone who will trade some "bitcoin" for actual money?
that's the only way they're valuable. if you can find someone who will give you their real money for your "bitcoin".
today, might be easy. tomorrow?
all those valuations are paper gains until you actually find someone to trade with & then execute the trade.
and the answer to my question is - obviously - no, nobody's ever held a bitcoin in their hands and nobody ever will.
I could sell a bitcoin in 10 seconds if I wanted to, and get cold, hard cash for it. You realize you can sell it on any number of exchanges? I don't need Joe Blow in Hoboken to buy one, the exchange will pay whatever the market price is.
You think its easier to sell one at 26K or 46K? They're the same.
today, maybe.
you realize in order to sell on any exchange you need a buyer on the other end?
if demand for this fictitious non-physical "currency" wavers, they are worth exactly what they're made of - nothing.
I do hope you've been able to trade this to someone for actual money. all-time gambit if so.
It is world wide.
You will regret the day you dismissed this. It is the wave of the future.
Those that have a lot of cash in the bank, stocks, mutual funds, IRA's 40lK's, etc are the ones at real risk. Not me.
How many people since 2000 have seen their stocks, mutuel funds and 401K's built up only to have the market tank and take 50% or more of their hard earned money? A ton. Its the same game every 7 years.
The next one is the real deal, there won't be any coming back from that one.
what if someone kicks the power cord out of the outlet?
It’s all about when you buy. I have a couple friends that bought near the peak thinking it was going to 100k. They are really depressed right now about it.
can any of them explain what, exactly, they bought?
you know, since there's no such thing as a bitcoin in the physical world?
What is somebody sticks a weapon in your mouth and says gimme all your money?
If they cut the cord, your bank account goes to zero. Your investments go to zero.
For 3 or 4 weeks, historically, the price of metals will drop 30%-40%, then rebound to all-time highs. I've already taken steps to insure any position I have. If I don't have this, I have that. If that fails, then I still have that. I'm a prepared man.
Look, if it isn't gold or silver, it is not money. You think the internet will be dead all over the entire world at the same time?
Smart people make contingency plans.
what do you think they'd make bitcoins out of if they were to be brought into the physical world?
1s and 0s taped together?
You’d run into the same problem with any fiat currency. Am I to assume most of your wealth is in gold since you hate non-physical currency?
physical assets (buildings, facilities, etc.)
land
gold
you know. stuff that actually exists.
No for sure … in my short time on the board I value your opinion and am intrigued at your approach.
The buy high sell plan has never worked. They got in it for greed, and have gotten burned. Its too bad, but that's the world we live in.
I bought at .08, 300.00, 600.00 and 1,200.00. Haven't bought any for years other than my son and I buy portions each month for my 2 youngest grandsons.
I would say that while markets fluctuate even some of the worst periods in time , value was brought back within 2 years. The only people it kills are those who panic when it drops and sell off, only to buy back in when it’s stable and going up. My in-laws are prime examples.
You said if it goes to zero tomorrow you’re already whole, so I assume you have successfully traded some for actual money?
You mean also the stuff you must trade bitcoins/land/gold for to realize it’s actual value? The stuff they print annd pass out for nothing if you made under 50-60k or whatever it was? It’s all relative, Hoss.
NFA
I am just going to be crystal clear here. It is simple... take out all the noise from the news and stack up as much crypto as you can from the big ones like Bitcoin, Ethereum, Solana, Cardano, Algorand, Matic and hold until 2025. It is simple, and right now the market is EXTREMELY over sold. Take it for what it is worth, but in 2025 I will be bumping this post
I am just going to be crystal clear here. It is simple... take out all the noise from the news and stack up as much crypto as you can from the big ones like Bitcoin, Ethereum, Solana, Cardano, Algorand, Matic and hold until 2025. It is simple, and right now the market is EXTREMELY over sold. Take it for what it is worth, but in 2025 I will be bumping this post
I can’t wait for the dip
Opportunities abound when the streets are filled with the blood of the meek and unprepared
So, what you're saying is, you have options? So do I. I'm hoping a lot of guys on here have lots of options.
Property goes up and down, land goes up and down, gold goes up and down, bitcoin goes up and down.
You have your financial holdings, I have mine. They're both good. If one of your assets goes to zero or if Bitcoin goes to zero, are you or I going to be ruined financially? Speaking for myself, no.
I suppose it is.
But what is neither relative nor at risk of waning to zero is human beings’ want for tangible things.
I will always have a buyer on the other end of my assets. Always.
Bitcoin owners cannot say the same, because it is more of an idea than it is a thing.
But you'd have to sell land, gold or buildings and facilities to realize value also. What is the difference?
If you don't have to sell land, or I don't have to sell Bitcoin, what is the difference? We both have options.
I'm not buying land, but its great to have if you own it free and clear. But, if you have to sell, there's likely to be a credit freeze and most folks don't have that kind of dough to buy land without borrowing money.
The difference, obviously, is the utility & actual physical existence compared to bitcoin
Lol … a little dramatic but I too am excited for the market to be “on sale”.
The ENTIRE world is bankrupt. This one will be like none other. This corporation has been bankrupt since the '30's. We don't even own this country. You and I are chattel. Every new Social Security number allows the US to borrow hundreds of thousands of dollars. We are collateral.
Bitcoin is kind of like going to the zoo and staring at one of the reptile boxes and wondering “is it even in there”?
You never see it but you tell people all about it.
I am happy for anyone who’s been able to trade this for actual money. What a time to be alive!
You never see it but you tell people all about it.
I am happy for anyone who’s been able to trade this for actual money. What a time to be alive!
