- 12,381
- 67,874
Investing General Discussion
- Thread starter Furious
- Start date
Synj
Dystopian Dreamer
- 8,517
- 37,875
When I bought mine back in 2020, I thought of it more like, do I trust dollars or do I trust gold? If I left $40k in the bank or I left $40k in a gold bank, which one would hold their value more? When you realize it’s a hedge against inflation, you don’t care as much about the cost. You’re just parking your depreciating dollars in an asset that maintains its value.
Plus it’s pretty damn liquid if you had to sell and you hold the physical asset which is nice.
I bought 30 ounces in 2020 at with an average cost of like $1400/ounce? Also bought a monster silver box (500oz) for about $11k at the time.
I sold a few ounces here and there when I needed some cash at about double. I don’t regret my purchases or sales.
- 3
Sanrith Descartes
Its all the Joos' fault. Am I doing this right?
- 48,959
- 132,386
Watch him moon the markets pre-open and then slam it with a fuck Chyna tweet at 10:01.
- 3
Synj
Dystopian Dreamer
- 8,517
- 37,875
Synj
Dystopian Dreamer
- 8,517
- 37,875
It’s curious to me that a kilo of gold is about the same as 1btc. Gold with the slight edge right now and less volatility.
Back in 2020, I would have spent less money for 1 btc with the same-ish current value as 1kg today.
- 1
Rangoth
Vyemm Raider
- 2,170
- 2,396
I’m just hanging out with my iPhone so not doing deep research but my 20,000ft high suspicion is that the general population is either trying to figure out if gold or bitcoin will win so they are somewhat tethered. I think a major “bitcoin positive” news piece like banks storing bitcoins, massive 1st world government adoption, or some type of super easy transaction layer accepted by Mastercard/visa and it would explode bitcoin at an insane level. Outside of that I think we’ll see growth for sure but it may be a general market tether until then.
- 1
- 12,381
- 67,874
IMO gold is what people put money into when they want to hedge against turmoil in the markets. BTC isn't really that as we've seen recently that when there's market turmoil, BTC is hit just as hard as stocks. Or at least growth/bullish cycle type stocks. Silver is interesting because it kind of straddles the lines of currency type metal and commodity type metal due to all of the industrial uses for silver compared to gold.
I would guess their current price correlation is more due to various powerful countries trying to find tethers for their currencies and economies that aren't Oil or Oil related. IE: we're going away from the petrodollar. Some are going to BTC and other Crypto, and others are going towards gold, and some are doing a mix of the 2.
That's my theory, anyway.
- 7
Sanrith Descartes
Its all the Joos' fault. Am I doing this right?
- 48,959
- 132,386
I just chilling by the pool so basically spitballing, but if memory serves, the majority of US wealth (outside of a few tech bros like Elon) is held by Boomers. Gold is what Boomers know. Gold is what they have heard for their entire lives is the safe play. My gut says in the short term (0-3 years), the wealth is gonna be pushed into Gold before BTC.
- 5
- 12,381
- 67,874
I think it's both. I also saw an infographic thing recently (so 100% accurate!) that says boomers have like 40% of the wealth of the US still.
I also think that the gold and silver increases lately are because the price (really the markets) for these 2 have been heavily manipulated for a loooong time. Oil as well. Now the methods of manipulation are failing and prices are rising on these types of commodities/assets across the board. I think it's going to be a bumpy road to get there, but we get $10K gold, $100 silver, and $200K BTC within 18 months.
Also check out copper and platinum and some of the rare earths for trading opportunities.
- 2
Asshat Foler
Chief Philosopher
- 52,521
- 45,605
sole
Molten Core Raider
- 345
- 1,242
Agree on market tethering like Rangoth pointed out. I own more silver than I do gold so I hope LLR is right about $100 silver incoming.
Looking at the technicals, BTC touching resistance between the 50-day and 100-day moving average (on the left) and found support during the pull back at the 50-week moving average (on the right). Worth noting that BTC hasn't had a close below the 50 weeks moving average since March 2023. Given that, I'd be more bullish than bearish on BTC, though this is just a theory based on its technicals.
Looking at the technicals, BTC touching resistance between the 50-day and 100-day moving average (on the left) and found support during the pull back at the 50-week moving average (on the right). Worth noting that BTC hasn't had a close below the 50 weeks moving average since March 2023. Given that, I'd be more bullish than bearish on BTC, though this is just a theory based on its technicals.
- 2
Rangoth
Vyemm Raider
- 2,170
- 2,396
As we all know nothing is guaranteed but that fact of never below the 50w line would be a trigger for me to buy calls. But other than ETFs on bitcoin I don’t really know how to do that directly and I have no desire to try and do so on some shady platform outside of IKBR/Fidelity
- 1