I understand many people are fearful and disbelieving of the future of Internet backed currencies. I tried to convert a few friends when Bitcoin was around the $10 mark. They all joked and laughed at me like it was the worst hair brain idea I'd ever come up with. Now they hate me because I turned out to be right. Mind you, to be fair I said the same about Silver and that turned out wrong. Market manipulation I say.
I have invested in gold and silver because I want tangible assets in my personal possession. Bitcoin does not achieve that. Perhaps down the track there will be many competing digital currencies. At that stage I might use some of them for transactional purposes, but never for investing or storing wealth.
Timely reminder for myself, why I started buying PMs in the first place. I suppose some people have this misinformation that buying gold/silver will make you rich quickly.
Nup I'm just hanging in there for fun, it was only ever a hobby so it doesn't owe me much. I finally switched the Litecoin miner off last month as it was getting too costly, cheaper just to buy them.
I wish I'd invested when I first heard of bitcoin. its too late game now I fear.... this is a speculative bubble we are watching. Silver thursday style. When the tulip will wilt we can not guess.
Why keep fiat cash when you can exchange hundreds of it for a digital token a computer got for solving a math problem.... ow wait because they are both NOTHING...
Nope, not jealous. They took the risk and now if they cash out before the bubble then they'll get the reward. I don't invest in anything i don't understand and on this one i didn't want to understand. Good on them i say. Never get jealous or envious because that means that you are trying to keep up with the Jones'
I bought a few BTC, sold recently, did well out of it. But I have never felt as uncomfortable holding this amount of cash(?) in an uncontrolled(?) exchange. I felt like I had absolutely no control over the BTC's, and that it could all disappear in a flash through no fault of my own.... and not because of a price fall. Maybe it's just me? I'll stick to CFD's thanks. However, no one should be jealous... those who have the balls deserve the fruits. The ironic part for me is that IMHO the value (intrinsic, for want of a better term) in BTC is the ability to hide criminal activity, a pursuit relentlessly downtrodden in the markets by the stacker masses, yet widely ignored by the same stackers if it puts a buck in their pocket. Interesting .
Watching Bitcoin with interest but can't bring myself to get involved Im very happy for those who have nailed it. Is Bitcoin showing us what the metals will eventually do over time ? This is the question I ask myself.
Nope never jealous of anybody who takes a risk and wins. But also never sympathetic of anybody who takes a risk and loses either. I am, however, completely dumbfounded how something that didn't exist a few years ago is now supposedly worth 6 trillion dollars. Even the Fed hasn't printed that much money out of thin air - yet. World has gone mad or I have - only time will tell which.
I was thinking the same last night Schiff. If it can happen to BTC and other cryptocurrencies, then there is no reason it can't happen with gold and silver, which after all, are hard assets.
Kinda doubt that, uniquely when a crypto is created or traded the value remains invested to some extent. Whereas you part with your hard earned fiat for a slab of precious shiny, well that's intrinsic value, it's totally different. Unless that is your trading paper metal which is open to the vagaries of the market and dare I say it "manipulation". If my corporation was severely exposed to physical I would flood the Comex with paper silver on one side, then get my subsidiary to purchase physical on the other. Thereby in the short term driving miners out of business which in turn creates a short supply of physical which in turn raises the paper market. Try doing that with Bitcoin?
