Jimmy2trees

13 hours ago, Touvex said:

May I ask why you would advise Bitcoin over gold right now? Gold is at its lowest for years. And Bitcoin hasn’t been higher, ever. If history repeats, Bitcoin will drop soon - surely that’s when we should buy in.

More so - as the inevitable recession comes, I think risky assets like Bitcoin will suffer.

Gold price should also increase as the money printing starts to effect fiat values. Again, we can look at history and what happened to gold after 2008.

All just assumptions from me of course so happy to hear your thoughts mate.

Since my last post yesterday, Bitcoin is up about 3%, while gold has hardly moved.  The money printing you mention is the reason.

Historically, rising gold prices would accompany this but market manipulation has prevented this for years and there is no longer any mechanism for true price discovery in the gold markets and many other markets for that matter. And this will always be the case for as long as the dollar is the world reserve currency. 

This is where Bitcoin comes in. It is the new "canary in the mine"  and is the only asset class that cannot be manipulated or confiscated  and its price is a true reflection of its soundness as a store of value. It is better at being gold than gold.

The upside potential for Bitcoin far outweighs the potential for losses, even at current prices. Given the choice of buying gold or Bitcoin, I think it's a no-brainer.  And don't forget, gold is only 10% of its all time high as well.

6 minutes ago, GoldenGriffin said:

And the 'powers that be' know it's a hard decision to make, they know the majority won't pay a lot more for something that is at a set price.

Buying new collectable gold coins is the best way, not old ones.

I'm not sure what that first line means.

"Collectable" gold coins are a terrible way to invest in gold.

If you're into collecting, fine. Then it's no different from collecting old comics or beer bottles. 

But as an investment in a balanced portfolio, if you want to invest or store wealth in gold,  buy standard bullion coins.

At this point in time, I would advise buying Bitcoin over gold all day.

9 hours ago, GoldenGriffin said:

Bitcoin lovers, please look back at highs relating to .com and tech industries, you'll lose out.

Gold is the way forward.

Buy gold proof, rare and unusual.

 

Buying rare and unusual gold coins is probably the worst way of investing in gold at the best of times. 

21 minutes ago, Seeds said:

Hang on, how did we get from Gold price chat to Bitcoin being banned by Governments.😂

I was referring to a few posts up, where Stacktastic mentioned a ban on cryptos.

Russian activity in the Arctic is nothing more than opening up the northeast passage. They have been working on it for years but the recent fiasco at the suez canal has prompted them into increasing their efforts. 

I can't see gold rising much over the short to medium term, never mind "going to the moon "

Bitcoin, not "cryptos", is the best horse in the race for  store of value . And contrary to what has been said elsewhere,  it cannot be banned or confiscated by governments or anyone else for that matter.

My predictions.......

Gold     £1200

Silver    £24

Bitcoin    £200,000

5 minutes ago, AurumArgenti said:

Without hijacking this gold thread and making it a stupid bitcoin maxi vurses the rest argument. Your statements simply aren't true.  

I don't want to be rude but...🙆‍♂️🤷‍♂️

Which bit do you think is untrue?

If you're investing  in cryptocurrencies, the best thing to do is just buy Bitcoin and ignore the rest.

99% of them provide no additional utility or functionality over Bitcoin and they are either vanity projects or pump and dump schemes designed to fleece amateur traders

Comparing them to Bitcoin is like comparing pyrite to gold.

As with gold, if you believe in the fundamentals and are in for the long term buying and hodling Bitcoin is the way to go

Is Bitcoin diverting capital from the gold and silver Market?.......

https://m.youtube.com/watch?feature=youtu.be&v=lbDtmt2PJlM

Great stack and a great achievement. 

Personally though, I wouldn't be able to sleep knowing that it wasn't in my possession.

1 hour ago, Midasfrog said:

It took gold from 40,000 BC until the year 2020 to reach a peak value of £1579 , Bitcoin has only been around for 12 months but managed to increase by that amount in a week somethings not adding up 😲

I like gold because it looks and feels the same when you hold it even when its value drops .

I like gold as well, for the same reason. Bitcoin has been around a lot longer than 12 months

But ignoring the aesthetics,  Bitcoin is superior as money- even as a store of value. 

I don't think it's a coincidence that gold is falling as Bitcoin is  approaching an all time high.

As some have already said, this is a non-issue and not worth  worrying about.

If you're still concerned,  buy off private sellers on here and all you'll need to provide is a "name" (😉)  and delivery address.