Gold and Silver hoarders

[storm rider]

I have seen a bunch of videos on Youtube of people showing their "Precious Metals" stacks and I just dont get it.Both gold and silver PAY nothing for dividends and the price fluctuates as the market demands.Maybe in the USA it could be viable as gold/silver are priced in US dollars and there are many choices to buy bullion at spot prices.In Canada you have to pay the exchange rate for the US currency(the bank charges a premium of about 4-5%) and then you have to pay a bullion dealer an added premium over the spot price(usually 3-4%) for them having the physical assets on hand for purchase.And if you sell it works negatively against you the same way....you get less on the exchange rate and less of the physical asset as well.

I guess if you bought a SHITLOAD of silver in 1 kilogram bars when silver was $14 an ounce and the Canadian dollar was at par with the USA then you would be ahead of the game.....if not for the fact that these people hold onto it and rarely sell as they think it is the ultimate hedge if society goes down the toilet.....personally if society goes down the toilet I would want a good reliable firearm and a shit load of ammo.

SR

 

[storm rider]

My understanding is, the supply of gold and PLATINUM is getting smaller, hence the jump in prices. Now, ALTERNATIVE metals are becoming popular for jewellery: Titanium, Tungsten, Palladium.

Titanium and Tungsten are lightweight and less expensive, yet still look nice. CERAMIC is becoming popular for WEDDING bands.

Palladium is one of the more expensive Alternative Metals, but it's nice and lightweight.

TITANIUM can be risky, because heaven forbid you accidentally crush a titanium ring around your finger, titanium CANNOT be cut. If titanium jewellery appeals to you, please consider TUNGSTEN instead. Triton Style Bands.

Here's a question for people: If you DO have Gold or Platinum jewellery, how much "gold" might you have, in terms of "selling your scrap metal for cash" potential?

In the USA, jewellers WANT your scrap metal. The going rate is about a 30% cut that THEY take from what they sell the scrap for.

RRSSEDPP,
Tim McGee.

I was talking about buying and investing in precious metals.Dont even bring "jewellery" into the conversation as it is a waste of money and the buyers of "jewellerly" get soaked for a 1000% markup on what they buy be it a ring/chain/bracelet...the actual gold content is a fraction of the weight and value.I remember when a friend of mine got married and he paid $1400 for an 18 karat gold wedding band and I weighed it up and said "yeah you paid $1400 for maybe $200 worth of gold"

Yes Platinum is far more valuable and the spot price for it reflects that same goes for Palladium.

Getting back on topic I just dont see how it is worthwhile to hoard gold/silver in Canada given the exchange rate with regards to US currency as well as the added premiums.

SR

 

[FreeG]

Storm rider, I think for the first time I 100.00% agree with you (see, us liberals aren’t all dumb! Lol)
R
My peers started buying gold and other precious metals (as well as buying ammo, guns, setting up shelters and other doomsday activities ) right after Obamawas elected. Apparently the skin colour of the President of the US is a harbinger for Armageddon. Who knew?? I could not for the life of me understand the gold thing. Ammo, shelter, gas, food - I can understand that. But say the world goes tits up tomorrow and you have all this gold in your house. Then what? Are you going to carve off a sliver of a bar for more flour? How many ounces for more ammo? Or a water purifier? And who has a scale handy to measure ounces or grams that doesn’t require a battery?

It’s just crazy. Gold is a very good conductor and it’s infinitely maleable(its structure doesn’t permanently deform no matter how often you pound it). Other than that, I’ll take aluminum, copper and steel any day. Especially steel and copper - it worked for the industrial revolution, it’ll work to rebuild (and take out a few zombies to boot!)

 

[UhOh]

Gold is a suckers game. Buy real estate or the DOW or hookers and blow but don't sit around waiting for gold to appreciate, life is too short.

 

[NEbaD]

Hey, best advice I can give you is this: Forget gold and silver exist. What precious metals are, essentially is a Store of Value; there are better investments in terms of returns than precious metals certainly, and precious metals are a long ways off from liquid, so why why would anybody sensible purchase precious metals? Again, as a Store Of Value. That is all they are good for, practically speaking. Won't get too much into it beyond that, but YVR touched on it kinda though.

That said, cryptocurrency is FAR SUPERIOR in every way as a Store Of Value. The reasons are too many to list, but I'll name a few:

-Completely safe, you can store as much money as you want in the right fashion and it Cannot be stolen, defrauded whatever you please. CANNOT.

-Having ALL your funds ALWAYS available to you. Try walking around with $200,000 in gold. Or in cash, for that matter. That's never an issue again.

-Done properly, it is 100% PRIVATE, you and everything you do. Imagine the possibilities.

-You can send and receive as much as you want, whenever you want, to whomever you want, at any time of day, for nearly free. Like sending an email. Don't forget, all private.

-In a growing number of places, you can just spend it like cash; you use your phone like a portable machine for a credit card, essentially, but there's not even a credit card.

-You want to pull 10k out of a bank machine? It's your money, so go right ahead. If that machine runs out of money though, you might have to go to the next one down the street.

-Oh, have you heard it can be a pretty good investment? Bitcoin, the first, largest, and most well known cryptocurrency, has enjoyed a meteoric rise. Two years ago, 1 Bitcoin was worth about $450.00CAD, but by a year ago it had climbed to over $1,000.00CAD. This year has been beyond anyone's wildest dreams, and 1 Bitcoin has soared in value and is currently buying and selling over $9.000.00 CAD

https://www.quadrigacx.com/live

So, what was that about gold & silver?

 

[Quarter Mile'r]

Storm rider, I think for the first time I 100.00% agree with you (see, us liberals aren’t all dumb! Lol)
R
My peers started buying gold and other precious metals (as well as buying ammo, guns, setting up shelters and other doomsday activities ) right after Obamawas elected. Apparently the skin colour of the President of the US is a harbinger for Armageddon. Who knew?? I could not for the life of me understand the gold thing. Ammo, shelter, gas, food - I can understand that. But say the world goes tits up tomorrow and you have all this gold in your house. Then what? Are you going to carve off a sliver of a bar for more flour? How many ounces for more ammo? Or a water purifier? And who has a scale handy to measure ounces or grams that doesn’t require a battery?

On the lighter side if you want to know how much gold you possess. Take the carat weight of your item
let's say 14kt, Divide that by 24 and multiply by 100. You now have the percentage of gold that item contains.
Take the total weight and multiply by the aforementioned number and bobs your uncle as to how many
grams of "actual" gold you possess.

Guys who hand load ammunition use scales that have no batteries all the time. They are called balance beam
scales. Way more accurate than these so called digital scales although they do work but can be forever
finicky as hell cuz they need to be recalibrated ever so often. Some moreso than others of course.

The best ones on the market are so damn sensitive that if you even breath on them or move your
arm across the top of them they register that, and it changes the number of what you are weighing.
Humidity also and are not reccomended for use under flourescant lights as well. Wow, that is sensitive.

Now for the reality section;
Doomsday preppers., :tsk: I'm assuming by doomsday you mean all out world wide nuclear war.
The best thing for anyone is if the BIG one is gonna hit you best be right under it when
it goes off. The horrors of post apocolyptic earth is not going to be like Mel Gibson in Road Warrior.
It will simply be HORRIFIC if that is a good description.

Anyone remember Robert Oppenhiemers quote after exploding the first atomic bomb in
New Mexico I think it was? "Now I'm become death, the destroyer of worlds" Read from the
Hindu text of some religion or something like that.
Scary shit !!!!!!

There will be no gas to buy. No food to eat or what there is you find will be so radio actively poisoned
you would be wasting your time eating it. Hunting and tanning skins, preserving meat?
And so on and so on. Are you guys freeking kidding me? What meat? What food?
All hunted animals if any have survived will be so radioactive it is useless to kill it.
What kinda movies you been watching?

Little house on the prairie? Get real folks. Just Check out any info on the Bikini Atoll where the US tested
their first Hydrogen bomb. It's still so radio active to this day that no one can even get permission to go there.

There's a reason they call it doomsday and the sales companies who are catering to this shit are making
a freekin fortune. I think I just made a move to a new entrepreneurial idea. LOL!!




....................QM'r

 

[Quarter Mile'r]

-Oh, have you heard it can be a pretty good investment? Bitcoin, the first, largest, and most well known cryptocurrency, has enjoyed a meteoric rise. Two years ago, 1 Bitcoin was worth about $450.00CAD, but by a year ago it had climbed to over $1,000.00CAD. This year has been beyond anyone's wildest dreams, and 1 Bitcoin has soared in value and is currently buying and selling over $9.000.00 CAD

This is what is so scary to me these days. Putting money into the likes of things that are "pseudo"
I mean you can't even hold a bitcoin in your hand like a toy from a cracker jack box. :lol:
But yet people invest in it. WOW!!!! and look where it's gone!

Crypto is another good term for fake or altered. I mean it's all great when people jump on the bandwagon but
when it comes time when people jump off? Oh boy, that's the scary part when the bubble burst's cuz it will
have about as much substance as the moment that it became an idea to being with.





....................QM'r

 

[NEbaD]

This is what is so scary to me these days. Putting money into the likes of things that are "pseudo"
I mean you can't even hold a bitcoin in your hand like a toy from a cracker jack box. :lol:
But yet people invest in it. WOW!!!! and look where it's gone!

Crypto is another good term for fake or altered. I mean it's all great when people jump on the bandwagon but
when it comes time when people jump off? Oh boy, that's the scary part when the bubble burst's cuz it will
have about as much substance as the moment that it became an idea to being with.





....................QM'r

Man, I get it. I really do. But you know what? This is the internet, amigo. Remember what the internet did to Blockbuster Video? Or like, all of the music and film industry? Everyone just downloads everything now. Well this is the same; in 10 years, everyone will be doing this, including you. Japan recently declared a cryptocurrenciy, ticker XRP, legal tender. That's the world's FOURTH largest economy. It's potential for large international transfers of money is unparalleled. There's just so may things. It's kinda just too big to stop already. It works too well.

 

[ddcanz]

Gold is a suckers game. Buy hookers and blow, life is too short.

Can't disagree with this logic!

 

[storm rider]

OK as for digital currency (bitcoin etc) it is not completely secure as there was the theft of the MTGOX bitcoin account.As for bitcoin being stable well that is also iffy as it has crashed in value in the past so I would not put all of my money into it thinking it is a dram investment or the like.Hindsight being 20/20 I sure as fuck wish I had bought $10,000 worth of bitcoin shortly after it's creation and held on for the ride as I would have happily cashed out last week and had the money sent to an account in the Caymans and became an instant billionaire tax free.The one super positive thing I will say for bitcoin etc is how money can be transferred with total ease and without nosy governments getting involved.

As for the APOCALYPSE as in nuclear war...it is just not going to happen due to Mutually Assured Destruction.All of the countries that are Nuclear Powers that have Atomic weapons have them as a deterrent and the idea behind that is "if you kill us you are dead as well" the trouble right now is North Korea wanting to be part of that club and that country should not be allowed to join it.China has said if the USA attacks North Korea they will retalliate and China has also said if North Korea attacks the USA then North Korea is SOL for help.All I can say is there is going to be a regime change in North Korea in the future and it wont be the son of Kim Jong Un running the show.If you want to see a time line of nuclear weapons development there is a good video on Youtube that shows each and every nuclear bomb test by each country as they developed nuclear weapons and it also shows each test location.It is pretty interesting to watch actually.

SR

 

[Quarter Mile'r]

Man, I get it. I really do. But you know what? This is the internet, amigo. Remember what the internet did to Blockbuster Video? Or like, all of the music and film industry? Everyone just downloads everything now. Well this is the same; in 10 years, everyone will be doing this, including you. Japan recently declared a cryptocurrenciy, ticker XRP, legal tender. That's the world's FOURTH largest economy. It's potential for large international transfers of money is unparalleled. There's just so may things. It's kinda just too big to stop already. It works too well.

Yup good point. We live in a virtual world don't we?

I wonder if these kind of money trading crypto currencies in a way just like using your local ATM,
made people think even back then when the ATM's first came out if this was the beginning of
the end to the cash society we know.

Having said that, there is way less cash exchanging hands today than even 10 years ago.

OK as for digital currency (bitcoin etc) it is not completely secure as there was the theft of the MTGOX bitcoin account.As for bitcoin being stable well that is also iffy as it has crashed in value in the past so I would not put all of my money into it thinking it is a dram investment or the like.Hindsight being 20/20 I sure as fuck wish I had bought $10,000 worth of bitcoin shortly after it's creation and held on for the ride as I would have happily cashed out last week and had the money sent to an account in the Caymans and became an instant billionaire tax free.The one super positive thing I will say for bitcoin etc is how money can be transferred with total ease and without nosy governments getting involved.

As for the APOCALYPSE as in nuclear war...it is just not going to happen due to Mutually Assured Destruction.All of the countries that are Nuclear Powers that have Atomic weapons have them as a deterrent and the idea behind that is "if you kill us you are dead as well" the trouble right now is North Korea wanting to be part of that club and that country should not be allowed to join it.China has said if the USA attacks North Korea they will retalliate and China has also said if North Korea attacks the USA then North Korea is SOL for help.All I can say is there is going to be a regime change in North Korea in the future and it wont be the son of Kim Jong Un running the show.If you want to see a time line of nuclear weapons development there is a good video on Youtube that shows each and every nuclear bomb test by each country as they developed nuclear weapons and it also shows each test location.It is pretty interesting to watch actually.

SR

On the apocalypse thing, I hope cooler heads prevail so that we don't see the MAD of our planet come to be.
Which president was it that coined that phrase (MAD) using it to deter anhialation with the Russians.
Was that President Reagan along with his Star Wars Missile command he wanted to employ in space?


Hey SR have you got a link to that nuclear weapons testing vid on youtube man.
There's also another one Called "The Atomic Bomb Movie, Trinity and Beyond"
Knowledge network on TV has played it a couple of times over the last 2 0r 3 years,
It's all about the same thing you mentioned.

Especially from the states POV from their first atomic explosion in the desert to today, along with China
showing their first Nuke test and a few from the Russions. There was one by the Russians called
Zar or Tsar Bomba.
Largest Thermonuclear Bomb ever exploded. Some 50+ Megatons. :faint2:






.....................QM'r

 

[westwoody]

MAD theory was promoted by Curtis Lemay since the late 1940s.
Nuclear weapons now are small and portable. A real worry is some group in India or Pakistan over running a military base and seizing one.

Canada had some for a while. The fact seems to be deliberately erased from history.
We had American free fall bombs under F104s in Germany, on 24/7 alert, waiting for the Russkies to come through the Fulda Gap.
Pershing missiles took over the role and the system was dismantled.

 

[summerbreeze]

Hey, best advice I can give you is this: Forget gold and silver exist. What precious metals are, essentially is a Store of Value; there are better investments in terms of returns than precious metals certainly, and precious metals are a long ways off from liquid, so why why would anybody sensible purchase precious metals? Again, as a Store Of Value. That is all they are good for, practically speaking. Won't get too much into it beyond that, but YVR touched on it kinda though.

That said, cryptocurrency is FAR SUPERIOR in every way as a Store Of Value. The reasons are too many to list, but I'll name a few:

-Completely safe, you can store as much money as you want in the right fashion and it Cannot be stolen, defrauded whatever you please. CANNOT.

-Having ALL your funds ALWAYS available to you. Try walking around with $200,000 in gold. Or in cash, for that matter. That's never an issue again.

-Done properly, it is 100% PRIVATE, you and everything you do. Imagine the possibilities.

-You can send and receive as much as you want, whenever you want, to whomever you want, at any time of day, for nearly free. Like sending an email. Don't forget, all private.

-In a growing number of places, you can just spend it like cash; you use your phone like a portable machine for a credit card, essentially, but there's not even a credit card.

-You want to pull 10k out of a bank machine? It's your money, so go right ahead. If that machine runs out of money though, you might have to go to the next one down the street.

-Oh, have you heard it can be a pretty good investment? Bitcoin, the first, largest, and most well known cryptocurrency, has enjoyed a meteoric rise. Two years ago, 1 Bitcoin was worth about $450.00CAD, but by a year ago it had climbed to over $1,000.00CAD. This year has been beyond anyone's wildest dreams, and 1 Bitcoin has soared in value and is currently buying and selling over $9.000.00 CAD

https://www.quadrigacx.com/live

So, what was that about gold & silver?

don't see Paulson, Soros, Sprott, Kaplan buying bitcoin but they all speculate with gold and silver

given they have made billions doing it you might consider they have something going for their investment acumen

in a world where governments control currency, its only a matter of time bitcoin have the rug yanked out from under them, as soon as terrorists start using it to transfer money it will be as good as dead

 

[Sexy Lina Melone]

Hey, best advice I can give you is this: Forget gold and silver exist. What precious metals are, essentially is a Store of Value; there are better investments in terms of returns than precious metals certainly, and precious metals are a long ways off from liquid, so why why would anybody sensible purchase precious metals? Again, as a Store Of Value. That is all they are good for, practically speaking. Won't get too much into it beyond that, but YVR touched on it kinda though.

That said, cryptocurrency is FAR SUPERIOR in every way as a Store Of Value. The reasons are too many to list, but I'll name a few:

-Completely safe, you can store as much money as you want in the right fashion and it Cannot be stolen, defrauded whatever you please. CANNOT.

-Having ALL your funds ALWAYS available to you. Try walking around with $200,000 in gold. Or in cash, for that matter. That's never an issue again.

-Done properly, it is 100% PRIVATE, you and everything you do. Imagine the possibilities.

-You can send and receive as much as you want, whenever you want, to whomever you want, at any time of day, for nearly free. Like sending an email. Don't forget, all private.

-In a growing number of places, you can just spend it like cash; you use your phone like a portable machine for a credit card, essentially, but there's not even a credit card.

-You want to pull 10k out of a bank machine? It's your money, so go right ahead. If that machine runs out of money though, you might have to go to the next one down the street.

-Oh, have you heard it can be a pretty good investment? Bitcoin, the first, largest, and most well known cryptocurrency, has enjoyed a meteoric rise. Two years ago, 1 Bitcoin was worth about $450.00CAD, but by a year ago it had climbed to over $1,000.00CAD. This year has been beyond anyone's wildest dreams, and 1 Bitcoin has soared in value and is currently buying and selling over $9.000.00 CAD

https://www.quadrigacx.com/live

So, what was that about gold & silver?

I’m interested in your take- if you were to invest $1000 in Bitcoin or Ether or both, how would you choose how much to each and why? With Ether being newer, do you think it will take over for bitcoin? I’m so new at this. All I know is the tiny purchase I made not long ago is growing and that encourages me!

 

[Cock Throppled]

Yup - completely safe and secure...https://gizmodo.com/poor-guy-accidentally-steals-and-then-destroys-300-mil-1820251726

 

[storm rider]

Yup good point. We live in a virtual world don't we?

I wonder if these kind of money trading crypto currencies in a way just like using your local ATM,
made people think even back then when the ATM's first came out if this was the beginning of
the end to the cash society we know.

Having said that, there is way less cash exchanging hands today than even 10 years ago.



On the apocalypse thing, I hope cooler heads prevail so that we don't see the MAD of our planet come to be.
Which president was it that coined that phrase (MAD) using it to deter anhialation with the Russians.
Was that President Reagan along with his Star Wars Missile command he wanted to employ in space?


Hey SR have you got a link to that nuclear weapons testing vid on youtube man.
There's also another one Called "The Atomic Bomb Movie, Trinity and Beyond"
Knowledge network on TV has played it a couple of times over the last 2 0r 3 years,
It's all about the same thing you mentioned.

Especially from the states POV from their first atomic explosion in the desert to today, along with China
showing their first Nuke test and a few from the Russions. There was one by the Russians called
Zar or Tsar Bomba.
Largest Thermonuclear Bomb ever exploded. Some 50+ Megatons. :faint2:






.....................QM'r

Just go on youtube and search....it is easy to find....and a bit of a watch but interesting....Germany is NOT part of the Nuclear Club and that is no small surprise.....the braintrust that was taken from Germany at the end of WW2 is pretty staggering.....a lot of Nazi scientists were moved out of Germany by the USA.

 

[badbadboy]

Gold is a suckers game. Buy real estate or the DOW or hookers and blow but don't sit around waiting for gold to appreciate, life is too short.

It's never a good idea to buy bullion or gold coins. You would need to pay for storage or have a safe in the concrete in your home. If one has coins or bullion, they should take care not to handle them because scratches, scuffs and fingerprints are usually unacceptable to gold collectors.

Buying good quality gold stocks have been quite profitable for me over the past decade. A miner, processor, having mining rights, and having bullion in house for the gold stock is a good investment. They are not subject to the wide swings because of their own diverse portfolio. I've bought in and sold off profits regularly on any gold play I've owned and haven't lost any money in my portfolio.

Bitcoins are a mugs game. Sure buying years ago at $0.10 would make you a millionaire many times over but it's a house of cards because it's unsupported through banks if you want hard currency. Perfect for those who want a pure digital money play if you want to be undetected by taxes, LEO or anyone laying claim to your assets.

 

[NEbaD]

I don't want to hi-jack this thread, but a few people followed up with a few questions so I'll reply...

OK as for digital currency (bitcoin etc) it is not completely secure as there was the theft of the MTGOX bitcoin account...

Done properly, it's completely safe. Mt Gox was an exchange, people held there money there for trading purposes, the exchange got hacked. I was referring to cryptocurrency as a superior method for stored value. In a cold storage wallet, Mt Gox isn't possible. Not to say trading can't be great, but really more gets stolen by corrupt bankers and lenders and stock brokers every day. Just think about subprime lending. Wherever you put your money, if you don't educate yourself, you might wind up a victim, whether it's in cryptocurrency, your checking account, or cash in your pocket. A fool and his money are soon parted.

Quarter Mile'r: I wonder if these kind of money trading crypto currencies in a way just like using your local ATM,
made people think even back then when the ATM's first came out if this was the beginning of
the end to the cash society we know.

There's crypto ATMs all over, and they're expanding fast. Most Waves coffee shops have them. They're great. I'll never forget my 1st time pulling about 6k out of one, my 1st withdrawal, and they're spilling on the floor because the cash thing was too small. The looks on people's faces in the coffee shop lol. And I did the transaction by holding my phone up to it; I think they thought I hacked the thing. Still makes me smile. (I'm way more discreet now, I didn't know much then)

summerbreeze: don't see Paulson, Soros, Sprott, Kaplan buying bitcoin but they all speculate with gold and silver

Bill Gates just converted 45 billion, half his money into crypto, two weeks ago. Easier to move around. He's not the only one, check the news.
Even better, check out:https://www.reddit.com/r/Bitcoin/.
Then read this great Forbes article: https://www.forbes.com/sites/johnko...currency-they-will-laugh-at-you/#58b3c10b576b.
Here's an 11 minute video you won't regret watching either: https://www.youtube.com/watch?v=RuPirTv5NO0

Sexy Lina Melone:
I’m interested in your take- if you were to invest $1000 in Bitcoin or Ether or both, how would you choose how much to each and why? With Ether being newer, do you think it will take over for bitcoin? I’m so new at this. All I know is the tiny purchase I made not long ago is growing and that encourages me!

For me, not bitcoin for a few weeks. There's a fork coming (except now it's not) and it's especially volatile. At the moment it's crazy high. I'm right out of bitcoin as of 10 days ago. I'm into XRP, OMG, STR, and a little Ethereum as well, and I'm doing just fine with it. I've outperformed bitcoin with smaller crypto steadily for the past year, so since that's been working for me I'm not going to change it. But really, you should just learn about it and find what works for you. While it has been very volatile as so many skeptics are quick to point out, over 5 years it's gone from a couple hundred dollars to around 10k. It will drop again, a huge amount, count on it. Maybe it drops to 5k in a week, and everyone will be like, "SEE! TOLD YA!" but just hold (or, hodl lol) because then it will shoot up to 15k. Look at the chart since it was created, and it's undeniably outperformed every single stock on Wall Street.

Cock Throppled: Yup - completely safe and secure...https://gizmodo.com/poor-guy-acciden...mil-1820251726

Again, it's a done properly thing. I could pull up billions of articles of people losing money in brokerages, funds, banks, suitcases of cash buried, et cetera. I've been following that story since it came out. It refers to virtual wallets held by exchanges. Learn about cold storage wallets, and you'll understand why that doesn't have to happen. I understand people's concern though, when that's the stuff media points out. Here's something a little nicer for you: https://www.reddit.com/r/Bitcoin/comments/7bgaic/4_years_ago_we_started_accepting_bitcoin_at_my/

badbadboy: Bitcoins are a mugs game. Sure buying years ago at $0.10 would make you a millionaire many times over but it's a house of cards because it's unsupported through banks if you want hard currency. Perfect for those who want a pure digital money play if you want to be undetected by taxes, LEO or anyone laying claim to your assets.

Bitcoin is legal tender in many countries, and the number is expanding. You can change it to fiat VIA bitcoin ATMs or through exchanges for larger transactions. But you're right, it's good for that other stuff. Like if your wife catches you with an escort and you get a divorce, for example. Or if you get #metoo'd on social media because you got drunk and slept with your also drunk neighbour, and when she woke up it was rape, because "drunk means no" for women in the eyes of the law, and we live in the Weinstein era, so your name gets dragged through the mud and you lose your job. Or, y'know, whatever else, could be a million things. Think about it.
________
Anyways, I'm defending Bitcoin to myself as much as to you folks, precisely because I've done extremely well with it. I made more money with cryptocurrencies than I did with my job this year. I'm considering quitting to trade and invest full time, but I have reservations, so in this thread, you all gave me the con's, and I replied with the pro's. I think I'll still keep my job for another year; if I do as well with what I'm working with now this year as I did last year (so far I've reinvested all of it) then it will be enough where there's really no question anymore.

 

[sdw]

My understanding is, the supply of gold and PLATINUM is getting smaller, hence the jump in prices. Now, ALTERNATIVE metals are becoming popular for jewellery: Titanium, Tungsten, Palladium.

Titanium and Tungsten are lightweight and less expensive, yet still look nice. CERAMIC is becoming popular for WEDDING bands.

Palladium is one of the more expensive Alternative Metals, but it's nice and lightweight.

TITANIUM can be risky, because heaven forbid you accidentally crush a titanium ring around your finger, titanium CANNOT be cut. If titanium jewellery appeals to you, please consider TUNGSTEN instead. Triton Style Bands.

Here's a question for people: If you DO have Gold or Platinum jewellery, how much "gold" might you have, in terms of "selling your scrap metal for cash" potential?

In the USA, jewellers WANT your scrap metal. The going rate is about a 30% cut that THEY take from what they sell the scrap for.

RRSSEDPP,
Tim McGee.

Actually, I think that Gold is going up because we have two madmen with Nuclear Weapons. If either or both pop off a weapon, we will probably have enough EMP that the Internet and Telephone networks will be down. Anything not on a hardened server will be gone. There won't be anything that needs the Internet to work.

That's why people buy Gold and Silver. And that's why they go up in price during tense times and down in price during peaceful times.

And, believe me - we are in tense times. Sweden is adding to it's 65,000 nuclear bomb shelters. https://www.washingtonpost.com/news...f-trump-it-wants-more/?utm_term=.e8ca30c4e38a

Switzerland has bomb shelters everywhere. http://www.saltandcaramel.com/swiss-nuclear-bunkers/

Both Sweden and Switzerland managed to stay neutral during WWII and it wasn't because Germany was respecting anyone's borders. Unlike Canada, they don't rely on someone else protecting them.

 

[badbadboy]

I don't want to hi-jack this thread, but a few people followed up with a few questions so I'll reply...


Done properly, it's completely safe. Mt Gox was an exchange, people held there money there for trading purposes, the exchange got hacked. I was referring to cryptocurrency as a superior method for stored value. In a cold storage wallet, Mt Gox isn't possible. Not to say trading can't be great, but really more gets stolen by corrupt bankers and lenders and stock brokers every day. Just think about subprime lending. Wherever you put your money, if you don't educate yourself, you might wind up a victim, whether it's in cryptocurrency, your checking account, or cash in your pocket. A fool and his money are soon parted.



There's crypto ATMs all over, and they're expanding fast. Most Waves coffee shops have them. They're great. I'll never forget my 1st time pulling about 6k out of one, my 1st withdrawal, and they're spilling on the floor because the cash thing was too small. The looks on people's faces in the coffee shop lol. And I did the transaction by holding my phone up to it; I think they thought I hacked the thing. Still makes me smile. (I'm way more discreet now, I didn't know much then)




Bill Gates just converted 45 billion, half his money into crypto, two weeks ago. Easier to move around. He's not the only one, check the news.
Even better, check out:https://www.reddit.com/r/Bitcoin/.
Then read this great Forbes article: https://www.forbes.com/sites/johnko...currency-they-will-laugh-at-you/#58b3c10b576b.
Here's an 11 minute video you won't regret watching either: https://www.youtube.com/watch?v=RuPirTv5NO0




For me, not bitcoin for a few weeks. There's a fork coming (except now it's not) and it's especially volatile. At the moment it's crazy high. I'm right out of bitcoin as of 10 days ago. I'm into XRP, OMG, STR, and a little Ethereum as well, and I'm doing just fine with it. I've outperformed bitcoin with smaller crypto steadily for the past year, so since that's been working for me I'm not going to change it. But really, you should just learn about it and find what works for you. While it has been very volatile as so many skeptics are quick to point out, over 5 years it's gone from a couple hundred dollars to around 10k. It will drop again, a huge amount, count on it. Maybe it drops to 5k in a week, and everyone will be like, "SEE! TOLD YA!" but just hold (or, hodl lol) because then it will shoot up to 15k. Look at the chart since it was created, and it's undeniably outperformed every single stock on Wall Street.



Again, it's a done properly thing. I could pull up billions of articles of people losing money in brokerages, funds, banks, suitcases of cash buried, et cetera. I've been following that story since it came out. It refers to virtual wallets held by exchanges. Learn about cold storage wallets, and you'll understand why that doesn't have to happen. I understand people's concern though, when that's the stuff media points out. Here's something a little nicer for you: https://www.reddit.com/r/Bitcoin/comments/7bgaic/4_years_ago_we_started_accepting_bitcoin_at_my/



Bitcoin is legal tender in many countries, and the number is expanding. You can change it to fiat VIA bitcoin ATMs or through exchanges for larger transactions. But you're right, it's good for that other stuff. Like if your wife catches you with an escort and you get a divorce, for example. Or if you get #metoo'd on social media because you got drunk and slept with your also drunk neighbour, and when she woke up it was rape, because "drunk means no" for women in the eyes of the law, and we live in the Weinstein era, so your name gets dragged through the mud and you lose your job. Or, y'know, whatever else, could be a million things. Think about it.
________
Anyways, I'm defending Bitcoin to myself as much as to you folks, precisely because I've done extremely well with it. I made more money with cryptocurrencies than I did with my job this year. I'm considering quitting to trade and invest full time, but I have reservations, so in this thread, you all gave me the con's, and I replied with the pro's. I think I'll still keep my job for another year; if I do as well with what I'm working with now this year as I did last year (so far I've reinvested all of it) then it will be enough where there's really no question anymore.

How are you reporting your bitcoin capital gains? Or just running with it til you face an audit to explain the bitcoin to hard currency transactions?

This is something that has made me hesitate going digital after having an account scrutinized by a bank account on the request from CRA. I had all the answers and had done nothing wrong. It was a regular check by the Govt and banks.