/biz/ - Business & Finance

The Final Pill

>>12148902
Except it isn't real. And not a store of value.

I don't need you to buy my gold for it to have value

thank you very good informations sir buy shiny rock for inflammations proof rupee investment sir very honest sounds rupees

>>12148937
Then what's the point of having the gold if you don't need people to buy it from you?

gold is for time traveling.
when you guys go to the past, are you going to pay with crypto coins, no.
what about when you go to germany hitler, are you going to pay with 2019 usa dolars to see dogs, no.
but with gold, you can pay anywhere, anytime.
you can pay to see jesus get burm, you can see the jews in their oven, you can pay for cute slave in old time.
and with what? with fucking gold!

>>12149079

To spend on goods and services

>Oh look!, is one of those images filled with no verifiable quotes that /pol/ likes to spread

>>12149223
>selling x for y is not buying y with x

>>12148937
>I don't need you to buy my gold for it to have value
You still don't know how a market works?
And when they tell you that billions are lost in a crash you believe that too? Every seller needs a buyer.

>>12149478
Gold is stored economic energy. Gold gets its value from energy used to get it in the PAST

>>12149079
Oh my god. Do you brainlets even know the entire point of buying gold in the first place?

Pretend we have a SHTF scenario and something like eating becomes an actual serious issue. You have that gold to BUY things you dumbass. Gold has value no matter what.

Go look at what 1 ounce of gold equals in Venezuela bolivars. 1 ounce of gold = 300 MILLION bolivars.

Now imagine being in Venezuela pre collapse and you went out and bought 4 ounces of gold because you wanted some savings. You now have 1.2 trillion bolivars when you exchange that gold for bolivars.

>>12149079

Here.... on the black market in Venezuela eggs costs 1,500 bolivars.

Now imagine having the equivalent of 1.2 trillion bolivars! You could have an egg party for your entire town for probably 10 years lol

>>12148891
real estate > gold
if we get to the point where the government is confiscating real estate money probably won't matter anyways

>>12149509
there is no such thing
and even if the same argument could be made for bitcoin because energy is used to create it.

>>12149478
you are correct, gold is worthless and won't save your ass in a colapse. Silver on the other hand has antimicrobial and food preserving qualities, that's why aristocrat's utensils were made of silver.

>>12148945
Here’s what happened to the reserve notes in India they became a trinket on my wall to remind me off these scammers

I have family in Iran, and many of them bought lots of gold a couple years ago. Lets just say they are very happy right now

>>12149509

>gold is stored economic energy.
>economic energy.

>>12149618
Read the white google search above your post that I copy and pasta'd

1 dozen eggs is 1,500 bolivars.

1 ounce of gold = 300 million bolivars.

People are starving and eating their pets in Venezuela but if you had 50 ounces of silver or a couple ounces of gold you'd be fucking sitting pretty

>>12149626
This is the most retarded post ever. Silver will be valuable but gold won't because when Shtf and people are starving people will care that silver is anti-microbial. Which it is of course and that's a good thing but that's not what's going to make it valuable stupid

>>12149765
Imagine all those people who’s years of hard work and savings ended up being worth less than an ounce of gold... sad but many won’t learn a lesson from this

>>12148902
How is gold not sovereign and decentralized?
>smart
cringe

>>12149618
Also you are clearly a dick sucking millenial beta male. If the govt started confiscating property people would fucking start shooting.

But fsggots like you will probably get on the FEMA bus

>>12149621
No such thing? Then why the fuck is gold just as valuable today as it was 1,000 years ago despite being de-monetized by governments?

Shouldn't gold already be worthless since the govt says so? And since we have a fiat system?

>>12149787
Exactly and that's the funny thing. And I've been explaining this for a while now. You don't need to go putting your entire 500k net worth into gold to save your 500k worth of purchasing power.

You literally need like 10 ounces of gold maybe 200 ounces of silver and you'll have fucking generational wealth in a reset.

>>12149787
AND MUCH less than an ounce of gold.

>>12149805
the market for gold mainly depends on jewlery. use cases like "store of value" and electronic usecases are also there but not that big of a factor. gold is not priced as a currency because it is not used as a currency. the market decides that as of now it is mainly used as jewlery and therefore priced as such.

It is unlikely that gold was worth as much as 1000 years ago. The truth is we can't really price it in fiat. In silver maybe, but also the relations were differenct so it doesn't really make sense as everything back then was probably priced against gold.

>>12148902
Until we merge the digital and physical, Bitcoin will still be backed by faith like fiat. Sure, it is also backed by it's code and a limited supply, but that is still nothing more than a way to gain faith.

>>12150272
This is the definition of Ponzi scheme a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors. Please explain why bitcoin is not a Ponzi scheme

>>12149765

If they'd had gold or silver, it would have been confiscated by the government a long time ago.

>>12148937
I could say the same thing about literally anything.
>I don't need you to buy my XXX for it to have value

>>12149618
>bitches don’t know about my property taxes

>>12150314
>btc is an enterprise

>>12150006
On a value basis, gold has held up quite well over the centuries. In London ca. 1700, an ounce of gold would buy you a nice tailored suit. Today, an ounce of gold will buy you a nice tailored suit.

>>12149545
ok golbug but your entire theses is based on a global meltdown of the entire economy when everything goes belly up, the military is on the streets and you are in your basement holding onto your shiny rocks, guess what, at that point we have bigger problems to worry about than having those rocks or not and what are you gonna do if there is no meltdown during your lifetime are you gonna get cucked by paper gold derivatives etc forever? gold has lost purchasing power over the last 5 years or so, shitty store of value especially compared to btc which I can send to someone on another continent within minutes, take billions of dollars stored in it through an airport etc

Whats the yield on those rocks again? Oh right...

back to tinfoil hat world

>>12150447
Nice meme numbskull, suits you better though.

>>12150468
>>12149835
refer to this post to see why it doesn’t need to have a yield. Nobody here said put all your money into gold it’s not even an investment but a safe storage of wealth.

>>12148891
Why should we care what a few men hundred years ago said?

>>12148891
Funnily enough, all of them would support Bitcoin if they were still around since it surpasses gold as the hardest, soundest money there is.

buy shiny rock sir intrinsics value honest money's inflammation proofs good store of rupee value sirs also very shiney

>>12150272
BTC is backed by math not faith. Go read the Bitcoin Standard before you start talking shit out of your ass.

>>12150566
this, austrian economists would agree that btc is simply superior, sure gold standard is better than fiat but btc is even better

Gold and BTC are shit investments. BTC was a bubble that popped liked your sister's cherry and it ain't cummin back boi. Look at the YTD for gold, look at the 3 year history. Gold is for boomer fags that don't know shit and think its good bc its shiny. If you are distracted by shiny things you're autistic. If you really want a good precious metal to invest in, look at Palladium. But straight up serious investors don't go for metals alone.

>>12150566

>he legit thinks buttcorns are portable, secure, and easily transactable.
>he thinks they're decentralized.
>he thinks you can actually program the cornbits.

>>12148937
>not a store of value
how is it you brainlet?
>because muh buttcoins went down
so did gold

>>12150590
>Bitcoin not backed by faith
It's a bunch of magick numbers that only have value because people say they do.

>>12150625
>Palladium
Lmao it's literally the biggest bubble in PM history, buying the top is truly a great idea

>>12150631
see u in 2030

>>12150646
so is fiat

>>12150345
Fucking black markets arise because govt is fucking all. It's not the govt running the black market you fucking fool.

And the fact that the govt would want to confiscate it is literally the best argument you could make for owning gold and silver. Why the fuck would they want to confiscate it if it wasn't valuable?

>>12150684
Sure, but the likelihood of people losing faith in the USD / it devaluing rapidly like BTC has is very low.

>>12150677

I'd rather not.

>>12150566
Yeah except btc is fucking invisible and gold is actually real.

Me: "Hey anon, I just went to the pet store and bought a frog. You want to come over and see it? He's really cool?"

You: " nah, why the fuck would I care to see your frog? I have like 50 Pepe frogs on my computer folder I can look at."

>>12150752
That's a feature, not a bad thing. Gold has been centralized throughout history for the very reason of it being physical. Bitcoin is censorship resistant and non physical, which makes it better than gold in those aspects along with the fact that its supply is absolute through math.

>>12150593
Dude. Your literally investing in btc because it's impossible to "make it" anymore, unironically because gold doesn't back the dollar anymore.

The wealthiest country in the history of the world was created under a gold standard. And shut is fucked now because we went off a gold standard.

All those people who made money in btc converted into fiat. And many also converted gains into gold

>>12150642
Gold didn't go down. A gold ounce 900 years ago is still that same ounce of gold today. Doesn't matter if the dollar exists or not. Moreover that's the entire reason you buy gold. For fear the dollar will collapse.

Bitcoin relies on the dollar.

Money's main purpose is to measure value. Gold measures value amazingly. Bitcoin doesn't measure value for shit

>>12150796
>>12150771
Why are u so defensive? I don't think gold is bad, but Bitcoin is better. This is the digital age man, get with the times. A newspaper is not better than a blog just because it's physical.

>>12150752
What gold certificates?

>>12150769
I'm not saying having some btc is a bad thing. I'm just saying you people who have no gold are literally fucked in the head. Being anti gold is like being anti water. That's how brain damaged you people are.

if you had a million dollars to your name... and you had inside knowledge that hyperinflation would hit the dollar in 3 weeks and you could put your net worth in only bitcoin or gold, you'd be fucking retarded to not buy gold

>>12150828
About

>>12150649
>PM "bubble"
It's a super rare platinum group catalyst that is forced to be in every catalytic converter, as well as a catalyst in making cancer drugs etc. Plus besides chemists and biologists nobody knows what the fuck Palladium is.

>>12150796
>>12150771
Also, I agree with your points; the world has been fucked since we got off the gold standard. I really suggest you read The Bitcoin Standard. 3/4 of the book is just about the history of money and why gold was the best choice. The last quarter of the book explains why Bitcoin will be the next standard of money.

>mfw the goldbug is fighting the bitcoin maximalist.

>>12150838

>Palladium

Though about buying that shit but it's not VAT free. Fucking fuck.

>>12150825
Because it's all fucked. And I'm going to have to go down with the ship because 99.9% of the population now thinks silver is a color.

1000000000% of the worlds economic problems is because we went off a gold standard and even fucking right wingers don't realize.

I went to a trump rally and kept saying in line to different people that everything is fucked because we went off a gold standard and and Zionist's are confiscating all our wealth through inflation. And even they looked at me like I was from outer space.

When this hyperinflation followed by deflation collapse hits. It's going to be fun seeing all you fuckheads starve.

>>12150852
How does that work though? I mean...... "money" isn't supposed to increase in value.

When America started issuing dollars backed by gold. You didn't go work for a week and make 10 bucks which would pay for rent and food, then just hold that 10 bucks for 7 years hoping that it would buy you 15 houses,....

That's not how money works.

>>12150893
yes sir hedge against hyperinflammation with shiny rock sir very shiny very honest sound's rupee stores of vindaloo sir

>>12148937
>And not a store of value.
it will be when it hits golds market cap only better in every which way.

>>12150914
>>12150893
All these points are addressed in the book. I really think you should read it. I've been reading it this week and it has confirmed my suspicions that all of our problems are due to the FED and the subsequent inflation that occurs and causes recessions.

>How does that work though? I mean...... "money" isn't supposed to increase in value.

Bitcoin is in its infancy and is still in price discovery regardless of what these idiots on biz say. Right now, the price is reflective not on the utility that it has, but on speculation. As the industry grows and it becomes improved over time, then the price will become stable. But all of this takes time and patience, which is the opposite of what people on biz want. They want to get rich quick and when it doesn't happen in one year, they call it a scam and call it quits. The book goes into time preference and obviously most people on biz have a very high time preference since they want gratification now at the expense of the future.

>>12150940
All you bitcoiners use the same joke it’s like you aren’t original enough to come up with arguments so you just use memes, truly NPC tier memes at that

>>12148891
none of these are real quotes

>>12150957
Only better? You can open up the Bible and see that a gold ounce bought you 350 loaves of bread 2,500 years ago.

That same gold ounce from 2,500 years ago brought to a coin shop today will give you $1,200 in fiat.

If you take that $1,200 in fiat to Safeway grocery store you can still buy roughly 350 loaves of bread.

How can you improve on that? You literally can't.

Now even IF I pretend btc does become the new gold...... it's still just the new gold.

The problem isn't with gold at all. The problem with with fiat

>>12151117
Were you there? How do you know?

>>12150970
>>12151117

Well in this meme Ron Paul is literally saying the same thing Andrew Jackson is saying and the other quotes by Ben Franklin and others.

And Ron Paul is a strict constitutionalist snd all about gold and silver. You think Paul just made up this stuff about gold and silver that he talks about and that our founders didn't set up this country based on sound money?

>>12150719
USD is done for. China and Bitcoin will dominate in 2030. Join, or die. Do not hallucinate into thinking you have options.

>>12150646
It has objective value. It's not for the low IQ to realize this fact.

>>12150752
>Yeah except btc is fucking invisible and gold is actually real.

Which is why your dumb ass will be getting your gold confiscated on every border while Bitcoin masterrace moves trillions worth of fiatola scam left and right seamlessly. By then you boomers may get it.

>>12150832
>a million dollarinos worth of gold hidden at home
>government starts cucking your ass to defend against ((hyperinflation))
>sends radars to homes
>finds gold
>try to anticipate and cross borders
>get confiscated

You dumb asses don't deserve to get rich as fuck with Bitcoin in 5 years. Do not buy the dip.

>>12148902
>Using the thought process of people who have been dead for hundreds of years who also lived in complete different socioeconomic conditions.
>Believing people who have been death for over 300 years when the average person was illiterate and all it took to lead people was the ability to read over the current top minds of society.

kek

>>12151389
Name a prominent person of today who advocates for your silly computer Ponzi scheme “money”.

>>12151424

>>12150314
BTC is a ponzi scheme, but so are traditional stock markets in the same sense. Reproduction is a pyramid scheme. There is nothing wrong with getting in on a good scheme in this world.
>>12150590
The math gives it faith which gives it value. The reason BTC is valued above it's forks (even though the forks have "math") is because people have more faith in it than the other versions. If that's because of trading pairs, or proof of work, or the prospects of LN, it's still the faith in the aspects of BTC that gives it value to any individual.

>>12151338
You faggots love to point out how 20 dollars used to buy more stuff then than now but every time you forget to mention that those quantities were not as common as they are today. The minimum wage back in 1930 was 25 cents you faggot. When would you save up to have 20 dollars? How many hours would have taken to get 20 dollars back then? Today it takes 3. Adjusted for inflation the minimum wage in 1930 was 4.19 dollars in today's money . You crypto faggots and fed haters have 2 neurons in that head and both are busy masturbating to trap porn. WhAt Is InflATION, Muh bItCoiN Is A mUCH bettTer fOrM of CuRRency.

Faggot.

>>12151434
Just like we have faith in fiat currencies? Just like goldbugs have faith that we won't find a mountain of gold under the sea?

>>12151424
Every single banker, every single economist. The only faggot advocating for gold/silver who has any name is Ron Paul. The faggot owns stocks in a much bigger ration than gold but, turns to sell these " the world is ending faggots" the dream of owning gold while he gets rich off of dividends.

>>12151480
A whopper combo cost $3 in 1988. Now it costs double, at $6. Why? Because the federal reserve prints more money and thus expands the monetary supply without actually improving on the Whopper combo itself.

>>12151501
as the monetary supply expands, prices rise as accordingly. such as gold going from the pegged 35$ an oz to 800$ after it was unpegged in 1971 by nixon.

>>12151482
There are definitely similarities. Fiat has the government where crypto has math, gold has "hoping for no massive reserves to be found" where crypto has "hoping that society maintains it's communications infrastructure".
I definitely think math is more sound than the government. Many people don't though, which is why fiat is still around.
I don't think that either of those gold and crypto scenarios are likely though, which is why I have some of both.

>>12151500
>Every single banker, every single economist

>>12151338
So basically.... your saying..... the only reason to have gold or bitcoin is for jumping borders?

And because you can jump borders with your bitcoin and not gold?

Even if we agreed that gold's only value is taking your money while jumping borders you actually have to pay the people allowing you to jump the border.

Wtf you think is going to happen? Your going to jump into Canada and your going to exahnge bitcoin with the border guy who's ready to kill you if you don't have money for passage? Here dude give your btc address

>>12151338
Also china has been accumulating record tonnage of gold for years now

>>12151500
LOL bankers and economists. Show me all those economists who called the 2008 collapse that the bankers caused?

Gahahahahahahahahhaahhaah

>>12149720

E C O N O M I C
C
O
N
O
M
I
C

ayo hol up wyte boi
u be tellin u aint invessin on da shine rock? u fool be trippin yo

>>12152221
No you pajeet, Bitcoin barons will move to developed tax havens. In any case there is an incentive for everyone involved to carry AND accept bitcoins in return, thus economic integration of Bitcoin is formed. This is unfeasible with gold or any other asset.

>>12151480
kys coper

>>12150454
>In London ca. 1700, an ounce of gold would buy you a nice tailored suit. Today, an ounce of gold will buy you a nice tailored suit.
If you think 1250 USD will buy a "nice tailored suit" you are a retard. You can buy something decent off the rack from someplace like Brooks Brothers and have it tailored for 2-4K depending on what you call nice. A "nice tailored suit" of 1700 would be a made to measure bespoke suit you could literally not wear out over a lifetime unless you wore it everyday. Today that would cost you over 10K just to start.

>>12148891
>invest heavily in asset
>constantly FUD everything else
>shill bags instead
Daily reminder that gold bugs are the OG bag holders and are twice as annoying as crpytofags due to their often advanced age.

>>12151424
Nassim Taleb, Jonh Nash. Meanwhile you worship pic related.

>>12153035
Tell me when you first bought bitcoin so I can laugh at you now and then later in a week.

>>12148902
Bitcoins not fungible

>>12149835
Was this both 10oz of gold and 200oz of silver or just that amount of one of them to hedge against hyperinflation? I probably have 3 or 4 oz of silver as gifts over the years but it sounds like an interesting hobby to start collecting and having a goal number is helpful.

>>12148937
I hope this is bait, what are you gonna do with your gold if nobody buys it you dumb faggot? you gonna eat it?

>>12154620
You fucking idiot. You don't buy gold for Shtf to just sell it when your starving. You buy food with it cuz the farmer needs a Blowjob from a hooker and since the paper the farmer has is also worthless he needs to gold because he has other needs to

>>12154584
Historically for most of human history a silver piece the size of a silver dime was a days wage. In a fiat collapse that 4 ounces of silver you have will equal 56 days worth of days wages historically. Because 1 ounce of silver is equal to 14 silver dimes.

So 200 ounces of silver ends up being close to 10 years worth of wages after shit collapses.

>>12154734
Cool i just weighed all my random silver I've received as gifts plus all the coins I've collected over the years 1964 and prior dimes, quarters, half and silver dollars which are 90% silver. I have just over 5oz of silver. I'm going to shoot for 200oz by the end of 2019, which should be no problem. Its only like $3000 altogether based on today's prices