GOLD vs BITCOIN

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XFactor
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Re: GOLD vs BITCOIN

Postby XFactor » Sat Dec 16, 2017

What really ticks me off is the 16% fee to transfer BTC off Coinbase to another site like Binance. WTF?

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Re: GOLD vs BITCOIN

Postby satosan » Sat Dec 16, 2017

XFactor wrote:What really ticks me off is the 16% fee to transfer BTC off Coinbase to another site like Binance. WTF?

I'm not real smart on the workings of BTC and the exchanges but shouldn't you be able to put the BTC in a hardware/hot wallet and put it into Binance fee free?
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SilverDoge
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Re: GOLD vs BITCOIN

Postby SilverDoge » Sun Dec 17, 2017

satosan wrote:
XFactor wrote:What really ticks me off is the 16% fee to transfer BTC off Coinbase to another site like Binance. WTF?

I'm not real smart on the workings of BTC and the exchanges but shouldn't you be able to put the BTC in a hardware/hot wallet and put it into Binance fee free?


The transfer fees are not Coinbase's "fault" they are the required fees to transact on the network charged by the miners. Currently, there are larger fees because the network is clogged with transactions, and Coinbase doesn't give you the option to reduce your transaction fee in order to get a slower confirmation time. They prioritize you getting your coin quickly and efficiently and that costs $$$. Lightning Network is in the works and looks to solve some of these problems (as well as SegWit implementation). Currently small transactions in bitcoin don't make much sense - hence the huge rise in LTC, Dash, and other alt competitors. I really don't send less than $500 - $1,000 in bitcoin around anymore until the system is properly scaled.

You could also use GDAX which is Coinbase's sister site and do limit orders for no fee, and then withdraw BTC from there, which is again fee free.
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Long John
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Re: GOLD vs BITCOIN

Postby Long John » Sun Dec 17, 2017

XFactor wrote:What really ticks me off is the 16% fee to transfer BTC off Coinbase to another site like Binance. WTF?

Wow, that wasn't the case the last time I sent BTC from Coinbase to Bittrex, but it was months ago. It sounds outrageously high. If true, I would move the BTC into GDAX for free, buy Litecoin on a limit order for free, then send the Litecoin to the other exchange (cheap) where it can be sold back into Bitcoin.

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Re: GOLD vs BITCOIN

Postby Bucketeer » Wed Dec 20, 2017

Good advice LJ
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SilverDoge
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Re: GOLD vs BITCOIN

Postby SilverDoge » Wed Dec 27, 2017

Peter Schiff getting owned again. This is from a week ago when bitcoin was in the $17k-$18k range. A few smart guys debating him.

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Re: GOLD vs BITCOIN

Postby highroller4321 » Wed Dec 27, 2017

SilverDoge wrote:
Long John wrote:Bitcoin will buy 12.77 troy ounces of gold.


Now you're just clowning me, aren't you! :lol:

The question becomes, once it hits 50:1, should I sell a whole bitcoin for 50 ounces of gold, or just do another 10 coins for 0.2 BTC? Surely I"ll have to wait until 2018, right?



If you are a long bull why even consider selling to get back into gold?

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Re: GOLD vs BITCOIN

Postby SilverDoge » Wed Dec 27, 2017

highroller4321 wrote:
SilverDoge wrote:
Long John wrote:Bitcoin will buy 12.77 troy ounces of gold.


Now you're just clowning me, aren't you! :lol:

The question becomes, once it hits 50:1, should I sell a whole bitcoin for 50 ounces of gold, or just do another 10 coins for 0.2 BTC? Surely I"ll have to wait until 2018, right?



If you are a long bull why even consider selling to get back into gold?


If you see my signature block, you know I believe in PMs and crypto. As I am unable to see the future I don't know which of these two assets will be the straw that breaks the elite banksters back. My guess is crypto because it is much harder to control. But being a prudent investor, I do a re-balancing of my portfolio at certain levels. As we all know, bitcoin & crypto have vastly outperformed gold the last several years so in order to get back to even ratios of crypto to PMs I have to sell one to buy the other. Seems logical to me.
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Re: GOLD vs BITCOIN

Postby highroller4321 » Wed Dec 27, 2017

SilverDoge wrote:
highroller4321 wrote:
SilverDoge wrote:
Long John wrote:Bitcoin will buy 12.77 troy ounces of gold.


Now you're just clowning me, aren't you! :lol:

The question becomes, once it hits 50:1, should I sell a whole bitcoin for 50 ounces of gold, or just do another 10 coins for 0.2 BTC? Surely I"ll have to wait until 2018, right?



If you are a long bull why even consider selling to get back into gold?


If you see my signature block, you know I believe in PMs and crypto. As I am unable to see the future I don't know which of these two assets will be the straw that breaks the elite banksters back. My guess is crypto because it is much harder to control. But being a prudent investor, I do a re-balancing of my portfolio at certain levels. As we all know, bitcoin & crypto have vastly outperformed gold the last several years so in order to get back to even ratios of crypto to PMs I have to sell one to buy the other. Seems logical to me.



If the goal for crypto is to ultimately end up with more gold, then yes I think it makes sense. You very graciously spend a lot of time talking about crypto and believe in its future, so I would think maximizing your expose to crypto would be your goal.


What would you say to a person who is heavy in PMs and very light on gold?

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Re: GOLD vs BITCOIN

Postby SilverDoge » Wed Dec 27, 2017

highroller4321 wrote:If the goal for crypto is to ultimately end up with more gold, then yes I think it makes sense. You very graciously spend a lot of time talking about crypto and believe in its future, so I would think maximizing your exposure to crypto would be your goal.

What would you say to a person who is heavy in PMs and very light on gold?


The goal isn't to necessarily to just own more PM. My personal goal is to maximize future purchasing power, while also supporting things I believe in. Gold supports this by creating a very limited downside and is a near-perfect inflation hedge, as well as being historic money for millennia. But crypto has some advantages over gold, and has a real chance to turn our current corrupt system on its head.

I personally advise people to have a PM position before crypto. Then never put more money into crypto than you can afford to completely lose. I have not sold bullion to buy crypto. I've sold a numismatic piece to do so, but I see numis and bullion as different investment vehicles anyway.

I'm not sure what you mean by heavy in PMs and light on gold. Does that mean you only have silver?
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Re: GOLD vs BITCOIN

Postby Long John » Wed Dec 27, 2017

highroller4321 wrote:What would you say to a person who is heavy in PMs and very light on gold?

That described me until recently. I was heavy in silver, light in gold weight. I have a fair number of gold coins from days of yore, but most are small and do not add up to many troy ounces. So like Doge I used some crypto profit to add gold. I think silver is undervalued relative to gold, but I was light in gold so that is where I went.

Before that I used some crypto profit to buy new teeth, a small but important part of my portfolio. :D

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Re: GOLD vs BITCOIN

Postby highroller4321 » Wed Dec 27, 2017

SilverDoge wrote:
highroller4321 wrote:If the goal for crypto is to ultimately end up with more gold, then yes I think it makes sense. You very graciously spend a lot of time talking about crypto and believe in its future, so I would think maximizing your exposure to crypto would be your goal.

What would you say to a person who is heavy in PMs and very light on gold?


The goal isn't to necessarily to just own more PM. My personal goal is to maximize future purchasing power, while also supporting things I believe in. Gold supports this by creating a very limited downside and is a near-perfect inflation hedge, as well as being historic money for millennia. But crypto has some advantages over gold, and has a real chance to turn our current corrupt system on its head.

I personally advise people to have a PM position before crypto. Then never put more money into crypto than you can afford to completely lose. I have not sold bullion to buy crypto. I've sold a numismatic piece to do so, but I see numis and bullion as different investment vehicles anyway.

I'm not sure what you mean by heavy in PMs and light on gold. Does that mean you only have silver?


I meant light on crypto..

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Re: GOLD vs BITCOIN

Postby SilverDoge » Wed Dec 27, 2017

highroller4321 wrote:I meant light on crypto..


That makes more sense, considering the conversation. I would hesitate to sell gold for crypto, unless you are sitting on a very healthy stash and it is your only way to get exposure. I would say divert current income to experiment around. Unless a person is retired and on a fixed income with little cash to spare for this, and also had a large PM stack, then I might say sell a small portion. But it also really depends on each individual's risk tolerance. Some people prefer sleeping better at night and not worrying about their assets. Once you get used to the volatility it is easier to handle, but a typical PM stacker isn't accustomed to this level.
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Re: GOLD vs BITCOIN

Postby Silversaving » Wed Dec 27, 2017

SilverDoge wrote: Once you get used to the volatility it is easier to handle, but a typical PM stacker isn't accustomed to this level.

That was the tough thing for me to get used to. Daily swings worth more then I earn at my job in a year. For a while I didn't sleep well and had my eyes glued to the market caps. Eventually you adapt and realize that over time your portfolio will increase in value.
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Long John
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Re: GOLD vs BITCOIN

Postby Long John » Wed Dec 27, 2017

SilverDoge wrote:Some people prefer sleeping better at night and not worrying about their assets.

Boring! :lol:

Just kidding. I kinda miss that, in a way.

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Re: GOLD vs BITCOIN

Postby highroller4321 » Wed Dec 27, 2017

SilverDoge wrote:
highroller4321 wrote:I meant light on crypto..


That makes more sense, considering the conversation. I would hesitate to sell gold for crypto, unless you are sitting on a very healthy stash and it is your only way to get exposure. I would say divert current income to experiment around. Unless a person is retired and on a fixed income with little cash to spare for this, and also had a large PM stack, then I might say sell a small portion. But it also really depends on each individual's risk tolerance. Some people prefer sleeping better at night and not worrying about their assets. Once you get used to the volatility it is easier to handle, but a typical PM stacker isn't accustomed to this level.


Volatility is part of the crypto world. If a person hasn’t accepted that then crypto is probably the wrong investment for them.

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Re: GOLD vs BITCOIN

Postby Fusion » Wed Dec 27, 2017

SilverDoge wrote:Peter Schiff getting owned again. This is from a week ago when bitcoin was in the $17k-$18k range. A few smart guys debating him.



Wow...Schiff is, just wow :lol:
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Re: GOLD vs BITCOIN

Postby Bucketeer » Thu Dec 28, 2017

highroller4321 wrote:
SilverDoge wrote:
highroller4321 wrote:I meant light on crypto..


That makes more sense, considering the conversation. I would hesitate to sell gold for crypto, unless you are sitting on a very healthy stash and it is your only way to get exposure. I would say divert current income to experiment around. Unless a person is retired and on a fixed income with little cash to spare for this, and also had a large PM stack, then I might say sell a small portion. But it also really depends on each individual's risk tolerance. Some people prefer sleeping better at night and not worrying about their assets. Once you get used to the volatility it is easier to handle, but a typical PM stacker isn't accustomed to this level.


Volatility is part of the crypto world. If a person hasn’t accepted that then crypto is probably the wrong investment for them.


+1
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SilverDoge
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Re: GOLD vs BITCOIN

Postby SilverDoge » Mon Jan 29, 2018

Craig Hemke of TF Metals Report did an interview with Clif High. It was recorded 4 days ago on 25JAN18. You can listen to the hour long interview here: https://www.tfmetalsreport.com/podcast/8794/a2a-clif-high

A few highlights:
- BTC still on track for $13,880 in February, which will become a new floor price. Clif made this price call of $13,880 for Feb 2018 - back in NOV 2016!
- BTC getting ready for $23k this spring
- He is overall bearish on asset backed cryptos for several reasons
- Craig mentions Andrew Maguire's upcoming ICO: Kinesis *
- He sees the dollar as a "minor" currency by 2022 :shock:
- He sees GOLD valued at 25% of a bitcoin... in 2018
- He HATES Ripple :clap:
- He likes Cloak, which I've never heard of, due to it's tech though, not due to his linguistic findings. Also likes DGB.
- Great Lakes large rain storm some time between now and 04FEB18 :shifty:
- Kim Jong Un will be "in power" less time than President Trump

He says some other crazy stuff too, so quite the listen. He mentions a quantum internet & quantum computing :shock:

* For more info on this, follow his twitter here: https://twitter.com/andrewmaguire1
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Long John
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Re: GOLD vs BITCOIN

Postby Long John » Mon Jan 29, 2018

So Clif High sees $23K Bitcoin in 2018... and also gold at 25% of Bitcoin in 2018. I'm assuming he does not mean $5,750 gold this year, so is he forecasting Bitcoin will see both extreme highs in the spring and extreme lows at a different point?

Also, you said "other crazy stuff." Which of the highlights mentioned is considered crazy? I hope not the rosy Bitcoin predictions.


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