The calm before the storm

[Bratnia]

10 hours ago, Bigmarc said:

You don't really need to spend the $30, paxg is available on most platforms and can go in most wallets. I think it's available on three chains, Ethereum, BNB and solana. 

If you wanted to keep it in your own wallet I would opt for solana as paxos is an American company and so is solana, solana is always relatively cheap to use when it's not going down. 

The good news is paxos seems to be doing quite well as it is complying with the authorities. The bad news is it's complying with authority's, the sec had been gunning for them probably because they were supplying binance with their stable coin (busd). Busd is no longer being minted and will probably disappear at some point, it caused a bit of a frackas at the time. 

Paxg seems to be untouched but there was a incident where the authorities ordered paxos to freeze the paxg tokens to any wallet that had been associated with ftx. They complied immediately. 

It is all a bit of a risk at the moment as there is not much legislation and they are changing the narrative daily. 

Sorry if not 100% correct, this is crypto, not sure if I fully understand it myself.

Thanks @Bigmarc. Once again I'm inclined to follow Buffett's advice, only invest in things you understand and I don't understand crypto. Fundamentally boils down to not permitting others to know where/how much your wealth is. Crypto whilst suggested as being anonymous, isn't. There's a association between in and out flows into regular currency/bank accounts that sooner or later must occur. Along with a vapourware risk, regulated or whatever out of the market. Physical gold retains my personal preference. Diversifying physical in-hand alongside digital gold of the form of a ETF/C backed by physical gold is enough digital for my needs/objectives. Not as quick maybe, T+2 trade time, but most of my spending is via credit cards that I pay off in full once/month at a set date such that T+2 is fine.

[sixgun]

Gold and or silver have been the backing of all the global currencies in past times. It gave a lot of stability - remember every fiat in history has blown up, gold currencies have lasted 100's of years.
The problem comes when countries decide to go to war. This was the downfall of Sterling and it has been the downfall of the USD. Wars are very very expensive. America was on the top of the world in the 1950's and still would be if it had not got involved in so many stupid wars.