Sold of My Entire Bullion Collection In Order To Purchase BitCoins

It’s like anything else, and like the saying
goes time is money, just how much your
willing to put in is the key, I am retired so
my time is my own and don’t have to worry
about punching a time clock

 

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Yes and no, yes in the fact that your trading
on the up and down margins, but the real
difference is the speed on which BTC moves
compared to stocks seconds versus minutes
would be a good comparison, I think most
people at the end of the day look at the final
numbers, money can be made at both ends
of the spectrum be it at 60,000 or at 20,944
where it is now, and another thing to remember, be it the stock market or BTC
investor numbers don’t mean anything unless
your cashing out.

 

Cashing out…?
You were going to leverage your house at 40k.

 

I really doubt he leveraged his home, but he said he was going to multiply times if it ever dropped to 40k. He was also encouraging members here to buy at 60k

 

"Crypto's overall market cap dropped to $942 billion after rising above $3 trillion in November."
Kitco, June 16, 2022

 

So is the stock market, so are PMs. Everything that could make you money right now is down while the cost of goods for everything is through the roof. Think about that for a bit

 

My GOLD FOAM purchases come directly
from BTC profits….

 

They arent falling out of favor, everything is down that increases wealth while the price of goods/living has increased. It's not a coincidence

For the 1000th time they actually did horribly until this year.

 

Gold and PMs actually had done far worse than horribly compared to it up until everything started crashing this year. If you want to believe nonsense some post thats your choice, but tehre's no denying cryptos like BTC FAR outperformed PMs until the great crash of everything started

Everythings probably going to crash further and there will be a time to get back into everything, I'm just not sure we're there yet. Seems pretty clear right now that nothing is going to change

 

No one "temporarily distracted" has any impact on the market at all. PMs have and always will be a terrible investment. Whether its stocks, or crypto physical PMs have high buy sell margins and no returns and people do the opposite of what they should do with it not selling when it spikes. Unless you bought in at the top you did far better in pretty much everything else than you would have in any PM the last two years. PM's arent a store of wealth, they're a valuable item because people say they are.

There could be a different climate in 6 months or it could be time to sell the farm, time will tell. What has been true though is that PMs have under-performed every investment consistently for decades

 

Whoa!! that's was a great back in forth, I like when these intelligent gentlemen get into a debate you learn a something and you realize you're in over your head. Hey does that mean PREMIUM will subside also on the SHINY WORTHLESS. People are listing and selling rolls of halves, quarters up to 200.00 to 210.00.. Its just me but I wont sell but I should at that price. Its seems when time gets tough us poor uneducated people no how to make it through situations the best we can..

 

Having something physical such as GOLD
will always protect you against the volatility
of other markets that are basically numbers
on a sheet of paper, my goals are long term
so I feel pretty good on my current situation

 

I'm trying to follow along, but I tripped over this statement. How can something be a store of wealth without being valuable, and how can something be valuable if people don't say it is?

I mean, I've got plenty of things that are valuable to me and not to anyone else, but they aren't a "store of value" in any monetary sense.

 

Store of wealth in the way I was using it in the sense that itll keep up with or outperform inflation. Aside from this year so far Apple Stock has proven to be a store of wealth as it has consistently increased for decades. PMs have spikes that eventually come back down. Granted they almost always have a higher floor after such spikes but they also have long periods of time where they're flat providing no return or even underwater. You can cherry pick dates showing increases, decreases, or stagnate, but a store of wealth should be something you can reasonably expect to increase year over year without needing a spike to do so

 

It's certainly not chump change, but what many dont get is that if you're going to talk about a lot of the small holders having the influence on the market many of those small holders are nontraditional investors. What I mean by that is that many of them are young, like early 20s or even late teens young who have bought with the intention of holding it for a decade or more. Sure there are some people looking for a quick buck or who sell on spikes especially the people that got in very early and have a lot of it and who wouldnt take some profits when that happens. (By the way no one is successfully day trading it profitably on a consistent basis no matter what people claim). But many are holding for the long term, most of those types of buyers wouldnt have been in something else. If it makes it easier just think of it as the PMs for the under 30-35ish crowd

Im sure some probably will move to metals, but like always people generally do the opposite of what they should do when it comes to investing. People were panic selling at the bottom when Covid started when they should have been buying more stocks. Same is going to be true sometime this year as well. There's certain ones that will bounce back in a year or so. That doesnt mean blindly buy stuff but there are some bluechip horses that will rebound its just a matter of when which will be dictated by policy.

If someone really wants to get into metals they should at least use the stock versions to avoid the massive buy sell premiums that come with physical