bitcoin vs gold debate

Comments

  • CampeadorCampeador Posts: 201 Bronze ✭✭✭
    That was soooo funny. Love Max rants! I wonder why these 2 cats are not pairing both. Max in a way is correct, Peter is correct. When is going to be when they will going to agree on Gold as a Store of Value and Crypto as a mean for Trasactions. Just like any Currency does today.
  • PowerlunchmoneyPowerlunchmoney Posts: 235 Bronze ✭✭✭
    edited October 13
    I watched this. Max is a little ridiculous at times but thats his schtick (though I wonder if he has lost his lustre for Goldmoney). Peter's closing remarks offered some good advice to crypto nerds. Take a little cream off the top.

    So crypto versus gold..

    I've come to realize that there are two kinds of value. real (physics, earnings) and perceived (emotion, speculation, hyperbole). Both of these types of values can make you wealthy (arguably, perceived more-so). However, there comes a reckoning day, where perceived values get over-inflated and burst, retreating back to real valuations.

    Even gold has a perceived value to go with its real value. Crypto, has plenty of perceived value but its real value is aprox. 0.

    Its the day of reckoning that some people overlook. #bagholder
  • LarryOLarryO Posts: 1 Tin ✭
    The blockchain is going to disrupt the banking, legal and accounting sectors. There will hundreds of cryptos but they will all be referenced in value to BTC. Atomic trades will likely prove reality that true. But Gold will survive the coming USD devaluation and is attractive because of that. The truth, I believe, is that both are viable stores of wealth. Having said that, Peter's arguments are kind of naive in terms technology and blockchain and he sounds kinda of primitive in his thinking. They both have strengths.

    I am here because it is not an OR equation its an AND equation.

    Great to be here it should be interesting to see this play out.

    What do you think of the prospects for the stock of Goldmoney?
  • PowerlunchmoneyPowerlunchmoney Posts: 235 Bronze ✭✭✭
    edited October 13
    Blockchain is just a tool like a hammer. It is disruptive for sure, but it isn't money. Not to say that one shouldn't speculate if you felt comfortable to do so. You're betting on emotional responses and not much else though. I believe crypto currencies will evolve to use gold as the value. I think this is what Roy and Josh are working on long term.

    XAU chart is in a break out pattern. Todays volume/price movement was exciting to say the least. I feel like the prospects are pretty good since its my largest stock holding. They need more institutional investors and I believe thats what we saw today.
  • BillybetaBillybeta Posts: 32 Tin ✭
    @Powerlunchmoney I was just thinking that. I know they had an institutional investor presentation lately and the pick up in volume seems a little to large for retail just yet. Plus generally speaking funds and institutions can't really get involved with stocks under $5 dollars. problem solved. I was DCA'ing in and now i wish i would have went full in. Confident there will be other buying ops at some point so I can have my full allocation.
  • CampeadorCampeador Posts: 201 Bronze ✭✭✭
    edited October 15
    Funny is.... each time a Bitcoin is represented in a physical form is made out of "Gold" or some that resemble Gold.
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