Are you waiting or buying?

[silenceissilver]

14 hours ago, Nick1368 said:

Emotions ? nah I wouldn't call it emotions , uncertainty yes but emotions no , the situation is not even that uncertain, we kind of know what is going to happen, don't we ?

in my personal opinion there are bad bad times ahead of the economy and the market, it is going to take the market at least  two years to recover from this mess and we haven't seen the worst of it yet, the price of gold won't go down anytime soon .

I am keeping very little money in my bank account, just enough for bills and online purchases, I own my house and car so no monthly payments for mortgage or loan to pay and have no debt at all, thank god for that, any money that comes my way turns into gold ASAP , I  think now is a great time to buy gold.

Same here. I feared I could lose out in case I waited, as I expected gold to raise, since I started stacking in the summer of 2018. Thus I turned the savings I had back then into PMs ( after I got a bit more familiar with regular stacking in early 2019) plus as soon as the wage comes, I buy PMs, these days only gold because of space, not because of the premiums for silver, I wouldn't care about that at all. And if you look at the gold price since the summer of 2018, I was right. Now I apply this approach even more than before if this is even possible. What I've changed, I keep less money on the bank and spend it much faster, generally,  though I think we could well see a temporary recovery for a few months before finally we will go into hyperinflation, maybe after a period of stagflation (which we seem to head into, now). But I don't want to risk it. I know, ideally you should keep a money fund for good deals, but I submit that is the right approach in a flat market, not in a bullish one. The only thing that could stop me from buying more on a regular basis is a loss of my job due to the economic crash or a fast and strong exponential rise of the gold price. So, waiting, now? Certainly not!

[Blehhhh]

3 hours ago, silenceissilver said:

Same here. I feared I could lose out in case I waited, as I expected gold to raise, since I started stacking in the summer of 2018. Thus I turned the savings I had back then into PMs ( after I got a bit more familiar with regular stacking in early 2019) plus as soon as the wage comes, I buy PMs, these days only gold because of space, not because of the premiums for silver, I wouldn't care about that at all. And if you look at the gold price since the summer of 2018, I was right. Now I apply this approach even more than before if this is even possible. What I've changed, I keep less money on the bank and spend it much faster, generally,  though I think we could well see a temporary recovery for a few months before finally we will go into hyperinflation, maybe after a period of stagflation (which we seem to head into, now). But I don't want to risk it. I know, ideally you should keep a money fund for good deals, but I submit that is the right approach in a flat market, not in a bullish one. The only thing that could stop me from buying more on a regular basis is a loss of my job due to the economic crash or a fast and strong exponential rise of the gold price. So, waiting, now? Certainly not!

Sounds like you are making a mistake.

I'm confident on pm, but I would never put everything into one asset.

No one knows what's going to happen 100 percent.

[AgCoyote]

I've bought a lot since February. About 400 oz of silver and 2 oz of gold. As long as spot on silver is where it is, I'm only going to buy silver at less than 20$/ounce. Obviously that's difficult to find but there are places if you search hard enough. I'm focusing on gold at the moment as it will rise first and I wouldn't be too surprised if it goes as far as silver or further in this bull market( Basel III,  both metals are seriously suppressed from their real value, I think the economy is in that bad of shape and yes I think silver will also do fantastic)

[Nick1368]

1 hour ago, Blehhhh said:

Sounds like you are making a mistake.

I'm confident on pm, but I would never put everything into one asset.

No one knows what's going to happen 100 percent.

Bigger the risk, bigger the reward 😉

 

[Mark10110]

7 minutes ago, Nick1368 said:

Bigger the risk, bigger the reward 😉

 

Scared money don't make money, as they say.

I am going to double down on my bitcoin I think, I own half of a bitcoin which I paid £1440 for. I am at a profit and have been since I obtained it but now I am thinking to get a whole bitcoin, a nice round number. Metals are going to take a back burner for a while as metals are my pension and crypto is my "investments" 

 

One thing I am taking away from all what is happening is, Bitcoin does not need any bailouts and when the audits come for the paper gold and silver I think we are going to see an interesting game of musical chairs. 

Only my opinion, if I knew all the answers I would be rich.

[Arganto]

It's interesting reading everything from those that have been doing this for a while. It's not been long for me, silver has been a little above £14 p/oz at most in the short period I've been paying attention to it. If I can get deals close to what I was paying when I started (~£16-£17 p/oz for 'normal' bullion from VAT free sources) psychologically it's not that different for me. £18-19 p/oz can be had on here if patient which unless buying huge amounts I can justify the difference, and although I really like some of the higher priced stuff I won't really entertain purchasing it. My gut instinct agrees with the notion that spot will rise in the not too distant future to a level where what I've been paying will be equivalent to or under that price. It also helps that regardless of the spot price and market shenanigans silver is still a lovely thing to buy and own. The way currency is bound to bounce around in value compare to commodities and other world currencies makes keeping everything in Sterling an unattractive proposition to me. Playing the stock market has never been my thing either and I don't think that will change any time soon.

[Mark10110]

6 minutes ago, Liam84 said:

It's interesting reading everything from those that have been doing this for a while. It's not been long for me, silver has been a little above £14 p/oz at most in the short period I've been paying attention to it. If I can get deals close to what I was paying when I started (~£16-£17 p/oz for 'normal' bullion from VAT free sources) psychologically it's not that different for me. £18-19 p/oz can be had on here if patient which unless buying huge amounts I can justify the difference, and although I really like some of the higher priced stuff I won't really entertain purchasing it. My gut instinct agrees with the notion that spot will rise in the not too distant future to a level where what I've been paying will be equivalent to or under that price. It also helps that regardless of the spot price and market shenanigans silver is still a lovely thing to buy and own. The way currency is bound to bounce around in value compare to commodities and other world currencies makes keeping everything in Sterling an unattractive proposition to me. Playing the stock market has never been my thing either and I don't think that will change any time soon.

I agree with the stock market, I think anyone is incredibly brave to get involved with stock market while we are in this never seen in history events happening, the amount being printed and the amount of unemployed and a GDP to defect levels as they are.  

Who knows, maybe the central banks can make this work but judging from history I don't have a lot of faith.

 

[Blehhhh]

51 minutes ago, Nick1368 said:

Bigger the risk, bigger the reward 😉

 

Very naive imo, but each to their own. I dont intend putting over 20 percent of my savings into metals. Could change but  unlikely.

If stocks take another dive, Ill be throwing money in. Thats real risk\reward. But you also must remain balanced.

 

[SurreyStacker]

1 hour ago, Blehhhh said:

Very naive imo, but each to their own. I dont intend putting over 20 percent of my savings into metals. Could change but  unlikely.

If stocks take another dive, Ill be throwing money in. Thats real risk\reward. But you also must remain balanced.

 

I am the same, definitely 10-20% at the right price. Whilst the market have been painful overall definitely some nice gains to be had recently or in future

[sovereignsteve]

I am currently waiting. I would like to re-jig my stack and collection a bit but buying is the problem at the moment. I don't envisage increasing my metal holding at my age.😀

[silenceissilver]

5 hours ago, Blehhhh said:

Sounds like you are making a mistake.

I'm confident on pm, but I would never put everything into one asset.

No one knows what's going to happen 100 percent.

Prinicipally that's a very sensible approach. However - how many other assets are anti cyclical? Food, pharma and weapons are, apart from gold and to some extent silver. But even food, pharma and weapons are blown up with fiat money, I'd suspect. I didn't check such stocks recently but I assume they too went down.

 

3 hours ago, Mark10110 said:

One thing I am taking away from all what is happening is, Bitcoin does not need any bailouts and when the audits come for the paper gold and silver I think we are going to see an interesting game of musical chairs.

I agree cryptos have a huge potential, far beyond being a currency. The Blockchain technology will enable a practically uncensorable facebook and many other things, eventually it will replace the entire stock market - or rather the entire stock market will all run on cryptos. It will replace central governmental registrys.

There will be a handful of cryptos going through the moon like Bitcoin did (maybe even Bitcoin itself, again, although Bitcoins is not the future of Cryptos, in the long run) but most of the thousands of the different cryptos will go to zero (maybe there will be a general hype for many or all of them before they go to zero but I don't know that). Even if you know a lot of details about all of them, it's very easy to pick a loser and there are new ones every day. Plus, I think they will have their big time after the economic crash, I don't think they will turn out to be anticyclical but even if they do somewhat, I still think they will have their big time after the crash. I did consider going into cryptos and it's not off the table and I had put money aside for it but in the end I bought more gold with it. With cryptos you can certainly make a lot of money but you can also lose everything. They are highly speculative.

[Mark10110]

17 minutes ago, silenceissilver said:

Prinicipally that's a very sensible approach. However - how many other assets are anti cyclical? Food, pharma and weapons are, apart from gold and to some extent silver. But even food, pharma and weapons are blown up with fiat money, I'd suspect. I didn't check such stocks recently but I assume they too went down.

 

I agree cryptos have a huge potential, far beyond being a currency. The Blockchain technology will enable a practically uncensorable facebook and many other things, eventually it will replace the entire stock market - or rather the entire stock market will all run on cryptos. It will replace central governmental registrys.

There will be a handful of cryptos going through the moon like Bitcoin did (maybe even Bitcoin itself, again, although Bitcoins is not the future of Cryptos, in the long run) but most of the thousands of the different cryptos will go to zero (maybe there will be a general hype for many or all of them before they go to zero but I don't know that). Even if you know a lot of details about all of them, it's very easy to pick a loser and there are new ones every day. Plus, I think they will have their big time after the economic crash, I don't think they will turn out to be anticyclical but even if they do somewhat, I still think they will have their big time after the crash. I did consider going into cryptos and it's not off the table and I had put money aside for it but in the end I bought more gold with it. With cryptos you can certainly make a lot of money but you can also lose everything. They are highly speculative.

I watched an interview with Dan Held (was involved with bitcoin pre £10 bitcoin and creator of Kraken exchange) and his theory's of the genesis bitcoin that Satoshi owns. We know Satoshi held onto his whitepaper idea till the perfect time showed itself, right in the middle of the 2008 crisis. He/She/They have managed to remain anonymous and have shown extremely good patience, what if (the theory) in the worst collapse Satoshi offers the genesis bitcoins to say USA government to pay off the debt at the time. This would be a some 4D chess move that would have a psychological check-mate move that would have the population asking "why are they not accepting the bitcoin offer" which would already have the population that already would have no faith in the fiat system at that point or they accept the bitcoin bailout and won't be any longer attacking bitcoin as they are  holding onto it/selling it to cover the debt.

 

Disclaimer: Before anyone responds that bitcoin at current price would not cover a USA debt of trillions, please don't as I don't have time to explain how it would work with the genesis blocks and you already don't understand how bitcoin works.

[Mark10110]

8 minutes ago, Mark10110 said:

I watched an interview with Dan Held (was involved with bitcoin pre £10 bitcoin and creator of Kraken exchange) and his theory's of the genesis bitcoin that Satoshi owns. We know Satoshi held onto his whitepaper idea till the perfect time showed itself, right in the middle of the 2008 crisis. He/She/They have managed to remain anonymous and have shown extremely good patience, what if (the theory) in the worst collapse Satoshi offers the genesis bitcoins to say USA government to pay off the debt at the time. This would be a some 4D chess move that would have a psychological check-mate move that would have the population asking "why are they not accepting the bitcoin offer" which would already have the population that already would have no faith in the fiat system at that point or they accept the bitcoin bailout and won't be any longer attacking bitcoin as they are  holding onto it/selling it to cover the debt.

 

Disclaimer: Before anyone responds that bitcoin at current price would not cover a USA debt of trillions, please don't as I don't have time to explain how it would work with the genesis blocks and you already don't understand how bitcoin works.

I am aware that my post comes across as "if you only knew what I know" but I don't intend it as that. I am just posting something that people who understand what the blockchain around bitcoin is capable of.

I don't have any patience for a debate over something like bitcoin or blockchain or the future of it. Maybe I lose everything maybe I don't. 

If anyone wants to know anything about bitcoin/blockchain you are better learning from Andreas M. Antonopoulos as he knows 99.9% more than i could ever understand.

 

 

[DrakeSavory]

23 hours ago, Mark10110 said:

Yea, I am thinking of stacking gold only due to the premiums on silver, I did ask Mike Maloney what does he think someone should put money into if they only had little cash and his reply was "ratio, ratio, ratio" but I can't justify paying £6+ premiums. I am putting the fear of missing out aside and trying to focus on safe money and it keeps coming back to gold. 

I feel the same.  I know I need to stack but if I'm going to pay outrageous premiums then I'd rather pay it for gold.

[Mark10110]

4 minutes ago, DrakeSavory said:

I feel the same.  I know I need to stack but if I'm going to pay outrageous premiums then I'd rather pay it for gold.

I wonder if in 4 years I will look back and ask "why didn't I buy?"

[DrakeSavory]

Oh, I'll buy silver one the premium craziness slows down.

[KevinG]

Nope I will wait till the market has stabilized and everything is back open and working properly.

[Kraittos]

I'm buying gold ( with medium premium), silver BU I will wait, just to see the evolution of the prices with that crises. 

[Stuntman]

I've bought some gold over the last 6 weeks, on the (relative) dips, but still with higher than normal premiums.

I bought a 10 oz silver Royal Arms coin when the spot price got smashed down to below £10.50 per ounce.  

I bought 2 oz of physical platinum when the spot price got smashed down to about £510 per ounce.

I've stuck some more money in gold, silver and platinum ETFs.

I'll probably sit on my hands for a few months now but if the prices and/or premiums drop and the availability improves - I will buy some more physical gold.

[silenceissilver]

On 11/04/2020 at 12:08, silenceissilver said:

Prinicipally that's a very sensible approach. However - how many other assets are anti cyclical? Food, pharma and weapons are, apart from gold and to some extent silver. But even food, pharma and weapons are blown up with fiat money, I'd suspect. I didn't check such stocks recently but I assume they too went down.

I would really love to get the perspective of someone who argues not to put all eggs in one basket, on my counter argument, above. For the current situation which not only I but many expected for a long time. Why should it be bad to have put everything on anti cyclical assets, before a big economic crash. And my counter argument doesn't imply gold and silver will go to the moon, it's just saying they can be expected to rise when almost everythind else falls. And please don't answer but silver isn't anti cyclical, we had long discussions whether or not silver is money or simply an industrial metal, recently, already. Just stick to gold in your answer, if you think silver is not anti cyclical.

[firestacker]

On 10/04/2020 at 12:23, Mark10110 said:

I am wondering if the majority of people on the forums are stacking with the high premiums or waiting for prices to level off? Perhaps you are buying in the fear of prices not coming back down?

Personally I have halted all stacking of gold and silver as I feel too many emotions are driving the markets.

Just holding off at the moment unless I see a great deal. Silver is too crazy right now with its sky high premium and lower spot price.

Seems like ~£20 is average price for 1oz silver right now whilst the spot price is  £12.35. People jumping in on facebook groups to buy any kind of silver tells me all I need to know.

I wish I bought more gold when it was hovering around £950oz 😅

[Mark10110]

2 minutes ago, firestacker said:

Just holding off at the moment unless I see a great deal. Silver is too crazy right now with its sky high premium and lower spot price.

Seems like ~£20 is average price for 1oz silver right now whilst the spot price is  £12.35. People jumping in on facebook groups to buy any kind of silver tells me all I need to know.

I wish I bought more gold when it was hovering around £950oz 😅

Me too

[New2Metals]

I wanted to buy physical because I am worried about massive inflation coming soon, but at the current premiums I don't know that it makes sense. I did buy some ETFs but that ultimately still involves dollars. I have BTC and XMR. Personally, I don't trust vaulted metals. How do we know if SHTF it will actually be there, not confinscated, or otherwise disappear? Interested in any other good investments to guard against hyperinflation.

[cravethatcoin]

2 hours ago, silenceissilver said:

I would really love to get the perspective of someone who argues not to put all eggs in one basket, on my counter argument, above. For the current situation which not only I but many expected for a long time. Why should it be bad to have put everything on anti cyclical assets, before a big economic crash. And my counter argument doesn't imply gold and silver will go to the moon, it's just saying they can be expected to rise when almost everythind else falls. And please don't answer but silver isn't anti cyclical, we had long discussions whether or not silver is money or simply an industrial metal, recently, already. Just stick to gold in your answer, if you think silver is not anti cyclical.

Silver is a very manipulated market, its price has no relation to demand it would seem.

With that said silver is a industrial metal. If the economy fails there will be much less demand for silver. Who's going to update their existing or buy new electronics with a failing economy?

You want to put 100% into gold/silver? That would be financial suicide in my opinion.

[Mark10110]

5 minutes ago, New2Metals said:

I wanted to buy physical because I am worried about massive inflation coming soon, but at the current premiums I don't know that it makes sense. I did buy some ETFs but that ultimately still involves dollars. I have BTC and XMR. Personally, I don't trust vaulted metals. How do we know if SHTF it will actually be there, not confinscated, or otherwise disappear? Interested in any other good investments to guard against hyperinflation.

the belief is deflation before inflation, With the government touting "the lockdown will end when the science shows its time" tells us they are not planning on ending the lockdown anytime soon. The longer this goes on the worse the shockwave will be in the 2+ years following. 

Some believe real estate is a good move but I can't see how, so many people cannot pay mortgages due to losing jobs and when the lockdown ends there is no guarantee that they will all get his/her job back and even how they will be forced to pay what they owe on top of the "emergency loans" they have been given.  On top of this I can't see many people in a rush to try and buy a house after this event no matter how sexy the banks make the loans look.

I like gold and I like silver and I also love Bitcoin, If I am to follow buffets philosophy I am going to be buying more bitcoin when it starts to "crash" in the following few weeks as I suspect people will start to learn about bitcoin as they start to come out of this global event seeing gold and silver hard to obtain, just my theory.

I do like XMR but I am still struggling on how I can keep the private keys as there is a lot of hoop jumping to get it on my ledger nano S, But I do think the privacy aspect will gain it a lot of traction in the near future