GOLD vs BITCOIN

Discussion of all things crypto and blockchain.
User avatar
tdtwedt
Gold Supporter
Posts: 17047
Joined: Sat Nov 01, 2014
Location: South Mississippi

Re: GOLD vs BITCOIN

Postby tdtwedt » Sun Jul 19, 2020

Preludedude wrote:
tdtwedt,

You claim they steer clear of owning any bitcoin. I asked for proof of this. I know you read my reply....

Isn’t one of the perks of owning bitcoin anonymity? So central banks can also take advantage of this perk, can they not?


I don't have any proof that they don't own bitcoin. Do you have any proof that they do?

Central banks can do whatever they want and wouldn't hesitate to lie. Maybe they do own bitcoin to launder money. I don't know.

Maybe SilverDoge can find a youtube video to argue that they do own bitcoin. I suspect they don't.
There are more ways than one to skin a cat.

User avatar
SilverDoge
Constitutional Supporter
Posts: 5266
Joined: Mon Apr 21, 2014
Location: Kansas

Re: GOLD vs BITCOIN

Postby SilverDoge » Mon Jul 20, 2020

tdtwedt wrote:
Preludedude wrote:
tdtwedt,

You claim they steer clear of owning any bitcoin. I asked for proof of this. I know you read my reply....

Isn’t one of the perks of owning bitcoin anonymity? So central banks can also take advantage of this perk, can they not?


I don't have any proof that they don't own bitcoin. Do you have any proof that they do?

Central banks can do whatever they want and wouldn't hesitate to lie. Maybe they do own bitcoin to launder money. I don't know.

Maybe SilverDoge can find a youtube video to argue that they do own bitcoin. I suspect they don't.


Bitcoin is semi-anonymous. If/when a user converts to dollars on a US exchange, they will have to KYC. Therefore the bitcoin address they are using is now "attached" to that individual.

Central banks wouldn't be using Coinbase. They would likely use an Over The Counter (OTC) broker, so that they can maintain anonymity and do large transactions with minimal slippage in the price (thereby attempting to get it as cheap as possible). Secondly, it most likely isn't going to be the US or EU central banks buying. They believe in the current system. It will be "rogue" nations or small time players looking to become larger global players in the next paradigm. Perhaps Singapore, Vietnam, Panama, Armenia, Thailand etc.

The beauty of bitcoin is that anybody can claim to own any amount....see the fraud Craig Wright. Or, you can own 100,000 bitcoin and claim to own none. Central banks have no motivation to announce they own any until the first major central bank announces that they do....but being the first to announce would put a target on their back - think Gaddafi of Libya. So the first mover has to be somebody that the US wouldn't go to war with like China or Russia. Once one of these two announce they own 250,000 bitcoin as part of the foreign reserves, the cat will be out of the bag. The smart play is to acquire some before that D-day arrives. As a central bank, if you can print money for free, and then exchange that for a deflationary currency like bitcoin which continues to increase in value, why wouldn't you? For the same reason the East has been buying gold, they likely also acquire (or will one day acquire) bitcoin. The difference is that buying gold moves markets and is easy to track, so one must do it slowly. It's much easier to conceal one's bitcoin purchases on that scale.
Image

User avatar
Bucketeer
Bearish Supporter
Posts: 5612
Joined: Sat Aug 23, 2014
Location: Warily watching the herd.

Re: GOLD vs BITCOIN

Postby Bucketeer » Tue Jul 21, 2020

Well said Doge.
Gentlemen prefer Engelhard.

AURUM MULTO MAGIS ANIMAS PERDIDIT QUAM FERRUM CORPORA CECIDIT

User avatar
tdtwedt
Gold Supporter
Posts: 17047
Joined: Sat Nov 01, 2014
Location: South Mississippi

Re: GOLD vs BITCOIN

Postby tdtwedt » Thu Jul 23, 2020

Millennials Flood Into Precious Metals: Is Gold The Next TSLA?

https://www.zerohedge.com/markets/mille ... -next-tsla

:pop:
There are more ways than one to skin a cat.

User avatar
tdtwedt
Gold Supporter
Posts: 17047
Joined: Sat Nov 01, 2014
Location: South Mississippi

Re: GOLD vs BITCOIN

Postby tdtwedt » Thu Jul 23, 2020

Gold Has Only One Resistance Point Left: The All-Time High

https://www.zerohedge.com/commodities/g ... -time-high

:pop:
There are more ways than one to skin a cat.

User avatar
Bucketeer
Bearish Supporter
Posts: 5612
Joined: Sat Aug 23, 2014
Location: Warily watching the herd.

Re: GOLD vs BITCOIN

Postby Bucketeer » Thu Jul 23, 2020

For long term cold storage, I like KeepKey.
Gentlemen prefer Engelhard.

AURUM MULTO MAGIS ANIMAS PERDIDIT QUAM FERRUM CORPORA CECIDIT

User avatar
tdtwedt
Gold Supporter
Posts: 17047
Joined: Sat Nov 01, 2014
Location: South Mississippi

Re: GOLD vs BITCOIN

Postby tdtwedt » Sat Jul 25, 2020

Gold Versus The Financial System's "Hubristic Swindle"

FOUR FACTORS TO DRIVE THE GOLD PRICE

To summarize, the gold price will be fueled by four incredibly strong factors:

•Major debasement of currencies due to money printing

•Substantial shortages of gold in LBMA and Futures markets

•Major new private and institutional gold investors entering the market

•Only smaller quantities of gold available at current prices

Gold and silver are in the acceleration phase. The trend will be strongly up but with the normal corrections. The time when you can buy gold below $2,000 and silver below $25 is very limited.


https://www.zerohedge.com/markets/gold- ... ic-swindle
There are more ways than one to skin a cat.

User avatar
Bucketeer
Bearish Supporter
Posts: 5612
Joined: Sat Aug 23, 2014
Location: Warily watching the herd.

Re: GOLD vs BITCOIN

Postby Bucketeer » Sun Jul 26, 2020

CoinTelegraph: Why Bitcoin Suddenly Spiked to $10,200, Instantly Liquidating $75M. (run Shorty, run...hahahahaha).
https://cointelegraph.com/news/why-bitcoin-suddenly-spiked-to-10-200-liquidating-75m-in-fast-rally
Gentlemen prefer Engelhard.

AURUM MULTO MAGIS ANIMAS PERDIDIT QUAM FERRUM CORPORA CECIDIT

User avatar
tdtwedt
Gold Supporter
Posts: 17047
Joined: Sat Nov 01, 2014
Location: South Mississippi

Re: GOLD vs BITCOIN

Postby tdtwedt » Sun Jul 26, 2020

Here's Why JPMorgan Expects The Gold Surge To Continue

https://www.zerohedge.com/commodities/h ... e-continue

:pop:
There are more ways than one to skin a cat.

User avatar
tdtwedt
Gold Supporter
Posts: 17047
Joined: Sat Nov 01, 2014
Location: South Mississippi

Re: GOLD vs BITCOIN

Postby tdtwedt » Mon Jul 27, 2020

Gold Rips Up Record Book as $2,000 Test Looms in Hunt for Haven

Gold’s unrelenting march higher shows no signs of slowing after a plunge in the dollar swept prices past the previous high set in 2011 and put the metal on track for even bigger gains.


https://finance.yahoo.com/news/gold-fut ... 08713.html
There are more ways than one to skin a cat.

User avatar
tdtwedt
Gold Supporter
Posts: 17047
Joined: Sat Nov 01, 2014
Location: South Mississippi

Re: GOLD vs BITCOIN

Postby tdtwedt » Mon Jul 27, 2020

'Pomp' & Schiff On Bitcoin & Bullion

People can trust gold as real. It’s been here for a long time. It has all sorts of uses and all sorts of industries. Bitcoin is just brand new. It has no substance. You have to just trust the miners and all these people … and you have to trust people are going to want it.”


https://www.zerohedge.com/crypto/pomp-s ... in-bullion

:pop:
There are more ways than one to skin a cat.

User avatar
Bucketeer
Bearish Supporter
Posts: 5612
Joined: Sat Aug 23, 2014
Location: Warily watching the herd.

Re: GOLD vs BITCOIN

Postby Bucketeer » Mon Jul 27, 2020

tdtwedt wrote:'Pomp' & Schiff On Bitcoin & Bullion

People can trust gold as real. It’s been here for a long time. It has all sorts of uses and all sorts of industries. Bitcoin is just brand new. It has no substance. You have to just trust the miners and all these people … and you have to trust people are going to want it.”


That could apply to a lot of things......buggy whips, telephones, television, transistors. air travel, vaccines...........
Gentlemen prefer Engelhard.

AURUM MULTO MAGIS ANIMAS PERDIDIT QUAM FERRUM CORPORA CECIDIT

User avatar
Mercuryman
Silver Supporter
Posts: 331
Joined: Wed Jul 13, 2016

Re: GOLD vs BITCOIN

Postby Mercuryman » Mon Jul 27, 2020

Bucketeer wrote:
tdtwedt wrote:'Pomp' & Schiff On Bitcoin & Bullion

People can trust gold as real. It’s been here for a long time. It has all sorts of uses and all sorts of industries. Bitcoin is just brand new. It has no substance. You have to just trust the miners and all these people … and you have to trust people are going to want it.”


That could apply to a lot of things......buggy whips, telephones, television, transistors. air travel, vaccines...........



Ehh I think you're stretching there. Gold has been money since the beginning of written history. Everything you just listed has been invented in the last 100+ years.
Si vis pacem, para bellum

User avatar
SilverDoge
Constitutional Supporter
Posts: 5266
Joined: Mon Apr 21, 2014
Location: Kansas

Re: GOLD vs BITCOIN

Postby SilverDoge » Mon Jul 27, 2020

tdtwedt wrote:'Pomp' & Schiff On Bitcoin & Bullion

People can trust gold as real. It’s been here for a long time. It has all sorts of uses and all sorts of industries. Bitcoin is just brand new. It has no substance. You have to just trust the miners and all these people … and you have to trust people are going to want it.”


https://www.zerohedge.com/crypto/pomp-s ... in-bullion

:pop:


I'm going to have to listen to this whole video now, and keep my own scorecard.
Image

User avatar
tdtwedt
Gold Supporter
Posts: 17047
Joined: Sat Nov 01, 2014
Location: South Mississippi

Re: GOLD vs BITCOIN

Postby tdtwedt » Tue Jul 28, 2020

Gold prices could hit $3,500 in two years, analyst says

The gold market is “very strong and could hit $3,500 in two years,” according to Barry Dawes of Martin Place Securities.

Garth Bregman of BNP Paribas Wealth Management said he doesn’t see “any catalyst” for gold to stop its rise in the short term, though there could be some consolidation around $2,000.


https://www.cnbc.com/2020/07/28/gold-pr ... -says.html
There are more ways than one to skin a cat.

User avatar
SilverDoge
Constitutional Supporter
Posts: 5266
Joined: Mon Apr 21, 2014
Location: Kansas

Re: GOLD vs BITCOIN

Postby SilverDoge » Wed Jul 29, 2020

SilverDoge wrote:
tdtwedt wrote:'Pomp' & Schiff On Bitcoin & Bullion

People can trust gold as real. It’s been here for a long time. It has all sorts of uses and all sorts of industries. Bitcoin is just brand new. It has no substance. You have to just trust the miners and all these people … and you have to trust people are going to want it.”


https://www.zerohedge.com/crypto/pomp-s ... in-bullion

:pop:


I'm going to have to listen to this whole video now, and keep my own scorecard.


That was a long video, but entertaining. Pomp kept hammering that gold has an "infinite" supply. I don't totally agree with that point. I'd say gold has an unknown supply and if humans ever became efficient at mining other planets or asteroids then the overall supply could approach infinite...but that would take a lot of energy. The real point is we can't know how much gold is out there in the wild, while bitcoin is all provable. Peter made too many claims about what bitcoin won't do. He'll likely be eating those words someday.
Image

User avatar
tdtwedt
Gold Supporter
Posts: 17047
Joined: Sat Nov 01, 2014
Location: South Mississippi

Re: GOLD vs BITCOIN

Postby tdtwedt » Fri Jul 31, 2020

Gold Goes TINA

The reality is that the future is packed full of uncertainty. And more uncertainty will drive the price of gold, and silver, higher. Likely much higher.


https://www.zerohedge.com/markets/gold-goes-tina
There are more ways than one to skin a cat.

User avatar
300Braveheart
Posts: 1531
Joined: Sun Jul 12, 2009
Location: Midwest United States

Re: GOLD vs BITCOIN

Postby 300Braveheart » Fri Jul 31, 2020

tdtwedt wrote:Gold Goes TINA

The reality is that the future is packed full of uncertainty. And more uncertainty will drive the price of gold, and silver, higher. Likely much higher.


https://www.zerohedge.com/markets/gold-goes-tina

Good article with a compelling graph of the "cup and handle" for gold... but even so... the graph implies a decrease in the gold price into 2022?????? How...
ImageImage

User avatar
tdtwedt
Gold Supporter
Posts: 17047
Joined: Sat Nov 01, 2014
Location: South Mississippi

Re: GOLD vs BITCOIN

Postby tdtwedt » Sun Aug 02, 2020

Bitcoin Hits 1 Year High Then Plummets After "Someone" Liquidates $1 Billion In Seconds To Hammer Price

https://www.zerohedge.com/markets/bitco ... nds-hammer

:pop:
There are more ways than one to skin a cat.

User avatar
tdtwedt
Gold Supporter
Posts: 17047
Joined: Sat Nov 01, 2014
Location: South Mississippi

Re: GOLD vs BITCOIN

Postby tdtwedt » Tue Aug 04, 2020

Why Gold $3000 Is Next: Bank Of America's Full 'Must Read' Client Call Transcript

The global pandemic is providing a sustained boost to gold due to increased savings, growing inequality, vast capital destruction, declining productivity, rising public debt levels, and, most importantly, falling equilibrium real interest rates. In addition, we believe that a clouded geopolitical chessboard further supports the case for our $3,000/oz forecast over the next 18 months.


https://www.zerohedge.com/commodities/w ... transcript
There are more ways than one to skin a cat.


Return to “Bitcoin/Crypto/Blockchain”

Who is online

Users browsing this forum: No registered users and 0 guests