My favorite part of the whole crypto scene is how they view it as a backup if shit hits the fan. Like the electric grid and the internet are going to be in good working order if shit gets bad.
Kind of, it's a backup for an economic SHTF, like south africa or venezuela. If things go seriously south with a total breakdown of the social order then all currencies are worthless, even gold.
Even in economic shtf power and internet are going to be unreliable. I agree, gold is worthless in any scenario. That's why I tell people to learn to distill booze. Alcohol will always have its intrinsic value.
Unreliable yes, but not to the point where people stop using them. Crypto is big in shitty economies right now, no reason to believe that's going to change.
Gold is a good long term store of value. Even if things do completely collapse, it'll recover it's value within a few decades. It's also a relatively risk free hedge against inflation, silver too.
[ - ] Her0n 1 point 3.5 yearsOct 26, 2021 18:56:31 ago (+1/-0)
I use crypto as a lottery ticket. Ten bucks worth of new coins every quarter isn’t going to hurt me much. I did get extremely lucky twice though! Once with Bitcoin and once with dogecoin. I never expected a dime from any of it.
This should be one of those buy gold and silver boomer memes. Last I looked gold and silver are worth less than they were ten years ago. What a great investment! Buy now and wait ten years to have less. Works better for gold/silver than crypto. BTC is worth over 60k right now... gold and silver is worth jack shit.
A lot of alts are going to go up in the next 2 months.
I think that's cherry picking a little. Ten years ago gold was in the middle of a huge spike in value brought on by the recession. Currently it's doing the same thing for the same reason. There was a brief period in 2011 where it spiked higher than today's price, but generally speaking it has increased in value.
So, sure, I guess if you only buy gold in the middle of an economic crisis then you might be screwed, but that's hardly rocket science. A boomer who bought gold in the 80s, 90s or early 2000s is laughing now. Same for anyone who bought gold during the Trump years.
[ + ] ShowMeWin
[ - ] ShowMeWin 5 points 3.5 yearsOct 26, 2021 09:17:31 ago (+5/-0)
At least in crypto/shitcoin being wrong usually means taking only 35% profit when you could have taken 3500%.
[ + ] noonefromnowhere
[ - ] noonefromnowhere 2 points 3.5 yearsOct 26, 2021 08:29:50 ago (+2/-0)
[ + ] Broc_Liath
[ - ] Broc_Liath 2 points 3.5 yearsOct 26, 2021 11:01:29 ago (+2/-0)
[ + ] noonefromnowhere
[ - ] noonefromnowhere 0 points 3.5 yearsOct 26, 2021 11:19:33 ago (+0/-0)
[ + ] Broc_Liath
[ - ] Broc_Liath 2 points 3.5 yearsOct 26, 2021 16:21:43 ago (+2/-0)
Gold is a good long term store of value. Even if things do completely collapse, it'll recover it's value within a few decades. It's also a relatively risk free hedge against inflation, silver too.
Booze and medicine are good trade goods, agreed.
[ + ] Deleted
[ - ] deleted 0 points 3.5 yearsOct 29, 2021 17:11:13 ago (+0/-0)
[ + ] Bottled_Tears
[ - ] Bottled_Tears 1 point 3.5 yearsOct 26, 2021 09:34:24 ago (+1/-0)
1800 into 13000 last summer.
[ + ] noonefromnowhere
[ - ] noonefromnowhere 1 point 3.5 yearsOct 26, 2021 11:15:59 ago (+1/-0)
[ + ] Her0n
[ - ] Her0n 1 point 3.5 yearsOct 26, 2021 18:56:31 ago (+1/-0)
[ + ] pshawman
[ - ] pshawman 0 points 3.5 yearsOct 26, 2021 16:28:28 ago (+0/-0)
It moves up when they need, and down when they need. Shitcoins rule over coins that could change the planet and set us all free.
[ + ] toobaditworks
[ - ] toobaditworks 0 points 3.5 yearsOct 26, 2021 11:12:55 ago (+0/-0)
A lot of alts are going to go up in the next 2 months.
[ + ] pshawman
[ - ] pshawman 1 point 3.5 yearsOct 26, 2021 16:30:37 ago (+1/-0)
[ + ] Broc_Liath
[ - ] Broc_Liath 0 points 3.5 yearsOct 26, 2021 16:27:18 ago (+0/-0)
So, sure, I guess if you only buy gold in the middle of an economic crisis then you might be screwed, but that's hardly rocket science. A boomer who bought gold in the 80s, 90s or early 2000s is laughing now. Same for anyone who bought gold during the Trump years.
[ + ] Broc_Liath
[ - ] Broc_Liath 0 points 3.5 yearsOct 26, 2021 11:01:59 ago (+0/-0)