I do wonder if his company hoards the bitcoins from sales, or immediately trades them for fiat? (which might be more convenient from an accounting perspective)
Hating on Bitcoin is like hating on Mcdonalds. You might make an individual idealistic stance against it but the masses will love it and always gravitate towards it. It has first mover advantage,market saturation,world wide recognition and trust. Not bad for something you can't bone. lol REDBACK
Mike has been "on the bandwagon since early 2014" in his own words. (listen at 3:40 within this thread's featured Maloney video). Investment orientated precious metal bugs seem to ONLY comprehend HOLDING & SAVING something hard and physical. I am so glad I have a broader view of finances, saving and the reality of the need for modern payments systems. Cryptocurrencies will surely offer much more than payments solutions, but hey...... Precious metals bugs would never question the corrupt practices of VISA and MasterCard before denouncing decentralised payments. Yes, precious metals bugs are big supporters of traditional payment corporations! The irony runs thick.
Holding and saving PM's must be out of fashion judging by the current sales threads. The hedger's must be buying. REDBACK
Look at Maloney's own words. Check out his website which states that: "Mike invested his family's wealth 100% in gold and silver, and remains 100% invested in them today." Here's the link: https://goldsilver.com/about-mike-maloney/ ... this quote is from paragraph 8 on his about Mike page. It's all well and good to tell people that he's been investing in Cryptos since 2014, and pretend to be a crypto genius after a huge price spike, but highly unethical to also say that he's 100% in metals too. He can't have it both ways. If you look at his Youtube channel page's crypto videos, hes recommended selling before most Bitcoin spikes, and on a few occasions actually belittles cryptos relative to gold and silver in other videos. It's 360 degrees of BS here.
June 2014 was 3 1/2 years ago though ... and with all of the marketing that he does I'm sure someone on his team would've pointed this out to him. The testimonials on his website seem to be current though and so do other products on his website too.
Those five numbers are on the way back down as well. Gold and Silver are sort of safe stable places to 'secure' ones wealth, but with the blatant manipulation of their markets, I doubt we will ever see exponential rises in their market prices as we see with Crypto's. I sold a bit of BTC a couple of day's ago to a member here .32 thereabouts BTC now worth about $400 bucks more than what I sold it for in a couple of day's. When was the last time somebody made that sort of dosh on Gold or Silver ? Crypto volatility is a direct response to an unregulated open market that runs 24/7, day in day out. AU & AG are in a hostage market which will never be able to break out in any real way due to the collusion and manipulation of those who control the markets.
Volatility is not a distinctive feature of unregulated markets. Crypto volatility is in part a direct response to the regulatory burden imposed upon individuals engaged in seeking value in the traditional financial systems. The fact that crypto currencies are not hard assets would also contribute to some price volatility.
You are arguing there is a correlation between volatility and an absence of regulation. That's not true. The lack of laws (or lack of regulations) don't result in the wild swings in pricing, both are outcomes (or in the case of the absence of centralised regulation intended circumstances) of the subjective nature of value in the specific market. Volatility emerges as a result of the nature of the goods being exchanged (in this case $ for cryptos and vice-versa), and the purpose that market participants engage in this mutual exchange as they attempt to apply means in order to meet ends (in the vast majority of cases speculative play designed for either financial gain or to export large amounts of currency in order to circumvent capital restrictions). It is from this exchange of value that social phenomena such as markets, technologies, laws and prices etc emerge, rather than the other way around. In the lawn mowing market, or the horse agistment market or many of the other non-regulated or deregulated markets price volatility is absent because the goods being exchanged are rather dull on the whole and the purposeful exchange is non-speculative in nature. And yes, you can trade gold, silver or fiat 24/7 if you wish.
