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  #11  
Old 10-15-2017, 11:50 PM
Karl Maga Karl Maga is offline
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Gold is an interesting topic in itself. Gold has no intrinsic value other than the value people attach to it. There are elements and metals much rarer than gold such as Platinum and Palladium for example. Over the centuries people have been attracted to gold because it does not rust, it is a pretty yellow color, it can be melted easy and it is easy enough to make coins out of it. So why is it more expensive than Platinum and Palladium.

All the Platinum ever mined can fit into your living room! The problem is that the precious metal must be rare to have value but no so rare that you could not make enough coins to circulate... So other than people being attracted to gold in the form of jewelry and coins and governments hoarding it, while it obviously has value, it is really not intrinsically valuable.
You said it. It’s all a goofy, subjective game with currencies and precious metals. Humans are crazy!
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  #12  
Old 10-16-2017, 04:31 PM
PHC1 PHC1 is offline
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Bitcoin starting to appear in real estate transactions.

https://www.cnbc.com/2017/10/16/bitc...7Ceveningbrief
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  #13  
Old 10-16-2017, 05:05 PM
Still-One Still-One is offline
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Originally Posted by PHC1 View Post
Gold is an interesting topic in itself. Gold has no intrinsic value other than the value people attach to it. There are elements and metals much rarer than gold such as Platinum and Palladium for example. Over the centuries people have been attracted to gold because it does not rust, it is a pretty yellow color, it can be melted easy and it is easy enough to make coins out of it. So why is it more expensive than Platinum and Palladium.

All the Platinum ever mined can fit into your living room! The problem is that the precious metal must be rare to have value but no so rare that you could not make enough coins to circulate... So other than people being attracted to gold in the form of jewelry and coins and governments hoarding it, while it obviously has value, it is really not intrinsically valuable.
Serge
When you think about it the only items that have intrinsic value is food and shelter.
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  #14  
Old 10-16-2017, 05:08 PM
PHC1 PHC1 is offline
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Serge
When you think about it the only items that have intrinsic value is food and shelter.
In times of apocalyptic crisis, water, food, shelter and ammunition to keep the others from taking the first three away from you. That's about it Jim. All else is irrelevant...
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  #15  
Old 10-16-2017, 05:28 PM
Karl Maga Karl Maga is offline
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In times of apocalyptic crisis, water, food, shelter and ammunition to keep the others from taking the first three away from you. That's about it Jim. All else is irrelevant...
I would add lingerie to the list.
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  #16  
Old 10-16-2017, 06:27 PM
PHC1 PHC1 is offline
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I would add lingerie to the list.
Nothing worse than facing a crisis without a clean pair of underwear...
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  #17  
Old 10-20-2017, 07:06 AM
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antipop antipop is offline
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Quote:
Originally Posted by PHC1 View Post
Gold is an interesting topic in itself. Gold has no intrinsic value other than the value people attach to it. There are elements and metals much rarer than gold such as Platinum and Palladium for example. Over the centuries people have been attracted to gold because it does not rust, it is a pretty yellow color, it can be melted easy and it is easy enough to make coins out of it. So why is it more expensive than Platinum and Palladium.

All the Platinum ever mined can fit into your living room! The problem is that the precious metal must be rare to have value but no so rare that you could not make enough coins to circulate... So other than people being attracted to gold in the form of jewelry and coins and governments hoarding it, while it obviously has value, it is really not intrinsically valuable.
Gold has many more application than you give it credit for and it's not just "for looking nice". A lot of electronics actually use gold as it is a perfect conductor.

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There is no inherent value in the bits just like there in no inherent value in the paper money that is not convertible into anything precious. The government does not back your money with anything other than a promise it will do the best it can to keep the country and the economy stable. It's good today but may be worth much less tomorrow. Dollar has lost 93% of it's value since 1913.... We call that inflation and it seems like that's the norm but when the Government and the Central Bank are in cahoots, is it really???

Even gold is speculative, there is demand and there is supply but the price of gold today may be very different tomorrow if say a huge deposit of it is found somewhere that is easily mineable. As far as bitcoin this article explains it pretty well. https://www.cryptocoinsnews.com/affects-bitcoin-price/
Currency are backed by countries and bank reserve. It's a system based on trust and even if the price of money may change it will always be recognized as a form of payment.

There is a lot of misinformation around when it comes to money. Inflation is a topic on its own and lately we really have not seen that much inflation to the point that it's puzzling economist.

I would stay away from bitcoins, there is no trust there and we don't know who are the guys behind it and what it is based on besides pure air. You are free to trade bitcoins but people in the past did the same with tulip bulbs, stamps, copper or internet companies stock. It never ended very well.
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  #18  
Old 10-20-2017, 03:01 PM
Karl Maga Karl Maga is offline
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Gold has many more application than you give it credit for and it's not just "for looking nice". A lot of electronics actually use gold as it is a perfect conductor.


Currency are backed by countries and bank reserve. It's a system based on trust and even if the price of money may change it will always be recognized as a form of payment.

There is a lot of misinformation around when it comes to money. Inflation is a topic on its own and lately we really have not seen that much inflation to the point that it's puzzling economist.

I would stay away from bitcoins, there is no trust there and we don't know who are the guys behind it and what it is based on besides pure air. You are free to trade bitcoins but people in the past did the same with tulip bulbs, stamps, copper or internet companies stock. It never ended very well.
I'll let you know how it turns out. I'm taking a speculative position in Bitcoin and cryptocurrency related elements. Speculative meaning I realize I could lose most or all of it. However, professionals who have proven their trustworthiness in investing guidance have me convinced I'll not lose in the end, though I do expect the volatility to be high.
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  #19  
Old 10-22-2017, 09:15 AM
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I'll let you know how it turns out. I'm taking a speculative position in Bitcoin and cryptocurrency related elements. Speculative meaning I realize I could lose most or all of it. However, professionals who have proven their trustworthiness in investing guidance have me convinced I'll not lose in the end, though I do expect the volatility to be high.
As long as you are aware that you may lose everything then no problem with a little speculation. Today it's still a casino and one day the bank could take it all, if it doesn't get stolen first.

Professionals have also given great advice during the dot com run...
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  #20  
Old 10-22-2017, 06:27 PM
Karl Maga Karl Maga is offline
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As long as you are aware that you may lose everything then no problem with a little speculation. Today it's still a casino and one day the bank could take it all, if it doesn't get stolen first.

Professionals have also given great advice during the dot com run...
All fair points. I will say that the pros I subscribe to have a public record of having nailed the dot com bubble/bust. I’ve made so much money with them so far that the Bitcoin speculative position is 100% funded via a small portion of what I’ve already made. No sweat.
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