Kitco Talking About Bitcoin?

Discussion in 'Bullion Investing' started by fretboard, Aug 4, 2021.

  1. fretboard

    fretboard Defender of Old Coinage!

    Interesting, especially because of who is being interviewed here, Richard Heart, mega computer guy and founder of Hex. He predicts Bitcoin will fall in price, idk one way or the other and he's actually the first person I've heard say this within the 4 year cycle. Just sharing this video for you crypto guys who own Bitcoin I don't, but I may buy any day once it gets low enough for my liking. I've been researching crypto for at least a month now, so I'm still in the learning phase. In my mind I think it may be better to own gold and Bitcoin or Ethereum instead of just owning gold. That said, I would never spend more money on crypto, than I am willing to lose. :D What do you think about crypto? I always get great opinions on this subject, both yays and nays are welcome!

     
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  3. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Another expert...LOL, 39,353 last time I checked, 10,000 I sure hope so
    a great time to buy :)
     
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  4. yakpoo

    yakpoo Member

    Yakpoo's Value Equation... "Value = Collector Base / Availability"

    In the case of Crypto Assets, the Collector Base is directly proportional to its utility...which can go to Zero with the stroke of a government pen. As utility improves, availability of existing crypto-assets drops (Gresham's Law) and prices rise.

    Since the total amount of any one crypto-asset is finite, that "should" put a floor under prices, but supply can expand as new crypto-assets are introduced and gain acceptance...effectively placing a cap on prices.

    The 800lbs Gorilla in the room is government regulation and the impact of a possible Crypto-Dollar. I would never buy any crypto-asset with money I can't afford to lose.
     
    Last edited: Aug 5, 2021
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  5. CygnusCC

    CygnusCC Learning the ropes Supporter

    No matter how much senators like Elizabeth Warren scream about rich crypto holders and want it to be regulated out of existence, congress is *never* going to regulate crypto out of use in the US. They would never give up that tax base which is only going to grow larger in time.

    No doubt the drool is gathering in a puddle on the capitol building floor as we chat...
     
  6. emdems

    emdems New Member

    If I saw this guy in public and didn't know his background, I would instantly think 'douche'.

    Edit: Looked him up - Not a popular guy - opinion remains the same.
    Watch winder and Louie V trash on screen = new money gauche.
     
    Last edited: Aug 5, 2021
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  7. Garlicus

    Garlicus Debt is dumb, cash is king. Supporter

    So a precious metals company, whose product probably hasn’t received the attention (purchases) that normally happen when inflation fears heat up, due to the attention (money) being given to cryptos, instead, has a video/interview with someone warning that cryptos will crash and people will lose money?

    Gee, didn’t see that coming, lol.
     
  8. midas1

    midas1 Exalted Member

    I have to disagree w/ you. No one knows what the idiots in Washington are capable of.
    I own btc & eth.
     
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  9. CygnusCC

    CygnusCC Learning the ropes Supporter

    Good point. Full disclosure: I also own ETH and several other small cap alts, I only own BTC long enough to purchase/sell other alts with - and own no BTC at the moment.

    I do agree that it's hard to predict DC idiocy, you make a good point. I still believe, though, that a primal driving force in congress is to locate any new funding source they can latch onto and then hold on for dear life. Crypto is the hot new source at the moment as we see from the infrastructure bill - I honestly don't see them giving up that funding anytime soon. Not ever, in fact.

    Even with idiots at the helm. :)

    My $.02 (720 gwei)
     
    Last edited: Aug 5, 2021
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  10. fretboard

    fretboard Defender of Old Coinage!

    Glad to see a couple on here who own bitcoin and ethereum, going forward my guess is there will be a new buyer every so often on this forum. I have no idea if Richard Heart is right in his prediction or not but he doesn't have too many people who agree with him at all. I find both bitcoin and ethereum fascinating as they go up big and sometimes they crash big. Bottom line is, you can still buy in and make money and the percentage could be a lot higher than PM's That said, it is a gamble so never put up more than you are willing to lose.

    Nice, I see what you did! :D
     
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  11. In 1933 ,A "Progressive' liberal party made gold ownership and trading illegal for 40 years.Nothing to stop history from repeating itself with Crypto and or gold becoming the scapegoat for socialist in the US.
     
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  12. Garlicus

    Garlicus Debt is dumb, cash is king. Supporter

    If you have crypto that you plan to hold for a while, there are some, like Ethereum, that you can ‘stake’ and earn interest. Coinbase is giving 5% on Ethereum. I haven’t checked others.
     
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  13. CygnusCC

    CygnusCC Learning the ropes Supporter

    You could be right, anything is possible. But I'm not sure what kind of revenue stream the government was actually getting (if any?) from taxing gold trading compared to the revenue they're planning, and already receiving, for crypto trading. I think that'll play in heavily.
     
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  14. fretboard

    fretboard Defender of Old Coinage!

    Yeah, I just looked him up, a lotta hate on his Hex crypto product especially on Reddit! :D
     
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  15. Mr.Q

    Mr.Q Well-Known Member

    Sure glad I have my finances in order. I'll leave the rest to my heirs, I won't know!
     
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  16. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

     
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  17. fretboard

    fretboard Defender of Old Coinage!

    Dang btc is movin' on up at over $43000- and eth up over $3000! :D That's amazing!
     
  18. baseball21

    baseball21 Well-Known Member

    Some of the Dinos are trying to sneak through a bunch of stuff that would be bad for it in the infrastructure monstrosity

    There is a very real chance they do something very stupid (shocking I know) but the thing is that the younger demo overwhelmingly is into crypto and elections happen frequently so many of them would be in very real danger of losing their seat once people figure it out
     
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  19. -jeffB

    -jeffB Greshams LEO Supporter

    One can apparently get very rich, and very old, waiting for the electorate to "figure it out". No matter what "it" is.
     
  20. baseball21

    baseball21 Well-Known Member

    Very true, but if crypto disappears it’s very obvious very quickly. You can’t hide the digital age which is something many are struggling to figure out. There’s a lot of people in Washington very scared for their jobs right now
     
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  21. fretboard

    fretboard Defender of Old Coinage!

    You think cointalk will ever have a Crypto forum?? I know @mpcusa asked for a bitcoin forum and that was ignored but how about a Crypto forum??? :shame:
     
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