We are in a bubble akin to the dotcom frenzy of the late 90s/ early 2000s. This will all come crashing down shortly with only a few prominent survivors (BTC for sure, maybe ETH, ETC)
I want to buy gold to avoid any cap gains taxes. Has anybody bought gold with BTC from places like jmbullion or amagi metals? Is it safe?
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The .com bubble was a multi-trillion dollar evaporation of wealth.
We are nowhere near that. Calm the fuck down.
Dotcom bubble was 3tril total marketcap (ON THE FUCKING STOCK EXCHANGE), crypto is only 100mil (WORLD FUCKING WIDE).
And? Who says crypto has to become as big as the .com bubble to finally crash?
Buying gold is fucking retarded. It literally has no value other than being an aesthetic luxury or when used in electronics.
The reason gold was used as a currency was because 1) It's easy to detect fake gold 2) It is a malleable metal therefore easily divisible (thus useful as physical currency, such as a bag full of gold coins) 3) It is rare enough so you can't just find a shit load of gold randomly and crash the value
It has no value in the modern world other than what I mentioned. You think when the economy crashes people will give a shit about gold? The only commodities will be be sex and resources needed to live (such as clean water, good), and weapons, that's it. We live in an age where precious metals are no longer precious.
100bil**
And how the fuck do you think they will trade those commodities? Maybe buy using a currency and store of value that needs 0 technology to exist and that we have been using in that way for millennia?
You're a special bus rider aren't you
Because 99% of the planet doesn't even know what the fuck a crypto is yet, doofus.
You can't even refute what I said.
The bubble doesn't have to be as big as the .com bubble to actually crash.
Awareness is not the only issue. Most crypto may turn out to be vaporware, or their services horribly mismanaged like what happened with countless early .com sites.
World market here and it's not even 500 bil market cap, you're in the beginning of a financial revolution with currencies people will use for security and freedom from banks. Thus isn't pets.com it's about actual fucking freedom. Breathe it in I know it's a lot to take in for a simple mind
We'll be in a bubble when bitcoin is 100k, also silver is undervalued relative to gold imo, better returns when the crash happens. Probably ~50/oz silver ~3x vs ~2500/oz gold ~2x
You're missing the point. We HAVE technology now. So if shit ever gets so bad to the point where we DON'T have technology, gold will be worthless because something akin to the apocalypse will have had to of happened. I know thinking about things that aren't immediately obvious is probably very difficult for you but please do try.
I agree with you. I never said crypto itself will go extinct. I said it will be like the .com bubble where millions were being poured into even the most obscure incompetent companies touting internet services, only to have their shares dumped by get rich quicksters and their services and funds painfully mismanaged. And only a few (Amazon, eBay) actually survived and became the future.
The same shit is happening right now with crypto and it doesn't need to reach a multitrillon dollar market cap to crash, and have not of these services turn to vaporware. Millions are being poured into shit ICOS, and coins that will just never make it, it will all crash and only a few good ones will emerge think BTC and maybe ETH being like Amazon.
Anyone with half a brain knows crypto has huge potential for the future and anyone with half a brain knows it's in a bubble.
Crypto has gotten no where near the level of the dot com boom yet
check this:
pastebin.com
and this:
You idiot currency is how you advance your economy and precious metals would make the best currency and store of value in a post apocalyptic scenario.
>Apocalypse happens
>Internet is unusable, crypto officially worthless
>I have guns and want food
>You have food and want guns
>Awesome we can barter these commodities and reach a deal.
>I have guns but want food again
>You have food but don't need guns anymore
>I find food from someone else
>Shit there is no one else with food
>Other guy has lumber which you need, but you can't get to him
>I want to get lumber to exchange for food with you but all I have is guns and lumber guy doesn't want guns
>Shit, oh wait NVM I have a rare metal that can be mined, not created destroyed or altered because it is an element, ancestors used it for currency
>I tell lumber guy I'll give him the metal for the lumber, I'll get lumber from him so I can get food from you and give you lumber
>Lumber guy has metal
>New guy comes around looking for guns, talks to lumber guy who says guns guy will take metal for guns, new guy trades flint for metal brings it to me and I give him guns for metal.
Simple you fucking idiot. If you were around for the begginings of Bitcoin you should know exactly how this works.
The fuck is this asian shit I can't read this nonsense.
Why does it have to be as big an the .com boom to crash?
Because things only crash when the normies start throwing a fuckload of money at it. They don't know what they're doing, they're just trying to catch the next "big thing".
Don't you get it? We're the fucking normies in this case. The early adopters are cryptographers who would lurk on cryptography message boards in 2008.
>the year is 2050
>half of the world population is dead
>no more computers are left and the system has fallen
>there is but one usb drive with 20 bitcoin on it
how much is that usb worth?
people just don't seem to get it
Kek... no.
Go ask Grandma if she knows what the internet is. Then ask her if she knows what a crypto is.
ALL cryptos in existence = $100 billion market cap. Apple alone could buy the entire crypto market 7 times over. This is nothing.
But hey, if you really believe what you say I suggest you sell everything and move on.
>ALL cryptos in existence = $100 billion market cap.
fake market cap
I'm trying to nigga but it looks like no one here has experience with buying gold with BTC.
And you missed my point before, this shit IS going to be important in the future, but only a lucky few. The rest will die off and the lucky few will take years to reach the value they have now.
im Vitalik, i make 100,000,000,000 coins
sold 1 coin for 1$ to my brather
now we have 100,000,000,000$ market cap
That usb wouldn't be worth anything in a scenario like that.
True, "market cap" is really a misnomer when talking about currencies.
JM Bullion. You're welcome.
Buying gold with crypto would be kind of stupid right now. Diversification that is always good you should have gold and crypto. And don't forget silver. Get rid of that Fiat.
Gold to preserve wealth, silver to gain wealth. That's my motto at least.
(And don't buy numismatic shit. Just get the fucking metal as cheap as you can.)
how it worck:
im Vitalik, i make 100,000,000,000 coins
sold 1 coin for 1$ to my brather (IPO)
now we have 100,000,000,000$ market cap
>silver to gain wealth.
Silverbug here
I lost thousands on that shiny shit - Steer clear of "precious" metals if you want to make money
I made thousands.
If you understand the fundamentals of silver vs gold, you know that the price is artificially suppressed by ETFs. This will not be the case forever. Historically the silver to gold ratio is 15 to 1 which means silver *should* be around $80/oz.
This market manipulation won't last forever.
now Platina Iridium Paladiy, better and more rare metals, cost less than Gold
OR
>Apocalypse happens
>I have guns and want food
>you have food
>I kill you and take your food
>and I take your daughter and use her for breeding
>gold is no more valuable than a rock
This. I'm a big metabug but in a complete societal collapse it's going to be worth shit. You can't eat it. You can't shoot it. You can't fuck it.
Only when some semblance of an economy begins to form again would it have any value.
Yeah my parents wanted to buy rounds when I convinced them to invest. It was a battle convincing them that weight was important and not the shape of the coin or what was printed on it
90% coins and "art bars" are typically the cheapest forms of silver.
That will only be temporary. Your food will be eaten your bullets will be shot but gold and silver will always be there when you need it. You think the third world trades food for good in services. Even the shittiest hellholes have always used gold and silver.
Bars are the cheapest simply because it's no fooling around it's just silver bars are the cheapest because it's no fooling around it's just over
>This market manipulation won't last forever.
Sure thing buddy, have fun holding you bags of heavy metal
>muh "YOU CAN'T EAT GOLD AND SILVER"
You fags don't have the slightest idea how economies work or develop.
Do, please, tell me about all those times that the economy was gone permanently following a collapse, never to exist again.
Step 1:
People start bartering shit. Afterall, its a good way to survive and get a new market moving again.
Step 2:
People start needing some sort of physical, solid currency as this new economy expands. That way, farmer greg can keep the worth of his potato crop that year. Something solid that they can hold in their hands and trade down at the local market. Something like, oh, I don't know, that useless shiny metal that literally every civilization has used for the past 10,000 years?
Step 3:
People start realising that "useless shiny metal" is a good asset to trade with because it is solid, durable, doesn't spoil, isn't permanently expended when used (unlike food), is rare (therefore not causing inflation) and has a fairly static supply leading to low volatlity.
Step 4:
Everybody starts using it more and more because of the value they get out of it, ie. by trading it for goods and services.
The flow of this useless shiny metal thoughout the now blossoming economy allows for larger and larger amounts of value to be stored, allowing for local warlords to fund their armies, merchants to bring greater amounts of goods into their lands, and everyday folk to have some semblence of economic security.
Step 5:
Congratulations, you now have a working economy again, civilization has restarted once more, and the cycle continues for the 1000th time in the past 10,000 years.
tl:dr:
The so-called "apocalypse" does not kill the value of shiny metal, and anyone who says "You can't eat gold" and thinks they're going to become Mad Max during the upcoming crash is a LARPing faggot.
People will only start "bartering" after a massive culling. In an apocalyptic scenario I'm not going to barter with you if you have something I want or need, I'm going to fucking shoot you and take it.
Look out, we've got a badass over here! Please don't hurt me mr. tough guy!
Yeah but other people have guns too and you will just end up bartering with them and exchanging gold or going to war, and if you think a dumbass like you is going to win wars without understanding the value of gold then you are wrong.
he right
"libertarians" ignore right of strong and thing property rights and right to live protected by god
He is right but so am I
I'm FULLY aware of the value of gold if you bothered to read the whole thread. The point still stands - in a complete societal meltdown nobody is going to give a fuck about gold. It's every man for himself. Only AFTER the herd is thinned and peace becomes more prominent would any kind of barter system be implemented.
you -not
Not how it's going to play out user. Technology and society falls apart and your little gold stash isn't going to do shit, you'll just be fucking dead.
No you underestimate how come dependant humans are on each other. Alliances will instantly be formed and even warring tribes and enemies will understand they need to trade with each other. If there is any form of primitive technology and communication there will be trade
You rely on "ifs" and "buts" while you could look at what is happening right now to judge if your theory is accurate. People are literally starving in Venezuela, are they using gold? Nope, it's bandits with guns taking what they want. It's overly optimistic to believe the collapse of civilization would suddenly turn any survivor civilized. When there's no more bullets people will stab you with a knife instead. If you really want to plan for a SHTF scenario, think bugout bag, ammo, food, medicine, knowledge. Gold is pointless. If you want to be stuck in one place, build yourself a bunker, get yourself solar panels, have a panic room in your house, stockpile technical books and any sort of tools or machines that can help quickstart basic industry back from scratch. Fuck, even buying "how to make friends" type books might be a better investment than a gold bar. Nobody survives SHTF scenarios alone.
Don't confuse conflate all humans with societal leeches created by our bloated welfare system. There are plenty of us who have ZERO need to depend on others.
basically this.
Any larper who thinks he is going to be able to make it alone is in for a big shock when the smart folks start joining together for protection and mutual interest.
I can't wait for these internet badasses to pull a gun on a stranger only to have the shit shot out of them by that stranger's 50 family members, friends, and allies who don't take kindly to trouble-makers in their territory.
I'm driving right now so I can not completely dissect your post. However you use Venezuela as an example. Let me tell you something about Venezuela. Are you aware that the crypto seen in Venezuela is exploding. Their money is worthless and they're getting their money out. There is food in Venezuela if you can afford it. And is under armed guard. Stocking up on food is a given when there's a crisis looming. But after the crisis all you have left is an empty cellar if you did not diversify.
...and what the fuck good is crypto going to do them when the government completely collapses and their power grid fails? Are they gonna be exchanging flashdrives with the promise there's BTC on it?
Fuck outta here....
Crypto is going to maintain their wealth whereas if the government completely collapses massive inflation is likely to occur just like Zimbabwe. Eliminating what little they still had. And Bitcoin is global they can take their Bitcoins on a flash stick on a piece of paper or left on an exchange or left on a cloud service and they can flee the country where as gold would be confiscated. Crypto is very useful very fucking useful to a oppressed people.
I'll give you another example. There is a woman that was doing humanitarian work in some Muslim country. They were training women to be coders but they couldn't pay them because they're not allowed to work or to have money. If they were caught they could be beaten or killed by their husbands. So they paid these women in Bitcoin so their husbands would never know. Now those women have options.
I feel like ive read this before
the billionaire buying apparenment for asian gf thing, its is some kind of pseudomeme over there right?
Also try Bitgild OP
You may have taken my comment wrong because I meant to type "co-dependant" being co-dependant doesn't mean you are a societal leech. Even the most hermity of hermits may benefit because of someone else for something. We are social animals and we all depend on each other for certain things. Like how imma get you to buy my bags.
ANS pro here
Never made a loss on ans
love them
I manage to buy every dip and sell every peak
btw, sell ans
Hey OP, I'll tell you why this bubble hasn't even started yet...
Altcoins are already heavily speculated and most of them may reveal itself as pretty useless in the future. But there's something even worse than altcoins going on right now... Ethereum tokens.
Tokens and ICOs will create a fucking huge ETH bubble in a couple of years.
Hundreds of ICOs will start to simultaneously liquidate their ETH while some of the old tokens will start to fail and create losses, this will create the perfect scenario for panic and a burst.
Sounds legit.
>Probably ~50/oz silver ~3x vs ~2500/oz gold ~2x
what does this notation mean?
So what you're saying is that we are all going 3000% richer?
It would be absolutely worthless you fucking idiot, the entire values of the bitcoins relies on the network of computer behind it and its use.
But that's the naked truth.
no it's that guy's subtle desire for that very scenario in which he gets to kill somebody with justification due to "muh natural order". form of fetishism
Silver will triple and Gold double?
beats me
If you think this will be akin to the dotcom bubble you're deluded, this is no where near that scale. This bubble bursting won't even be acknowledged by the mainstream.
>I'm going to shoot you its as easy as that
>no one will shoot me back because I have plot armor
It's safer to trade than to have a reputation as a murderous cutthroat. You will have posses rolling around looking for some good old fashioned vigilante justice. Live by the sword, die by the sword.
Irirdium?
Irirdium cost alweys more than Gold
bot now everybody want save money
Buy land not gold
NO PROBLEM, BUY BITCOIN THEN BILLIONER
yes
This is also more likely than some total global collapse where no amount of wealth would make much of a difference either way
And the internet is probably the most robust thing in our entire civilization barring some stonework and trinkets
>muh apocalypse
the only value your shinny shit has is when the world is literally ending.
are you one of those retards with escape plans and bunkers ready if the world ends too?
Ill also point out another thing, the black market. There is a huge black market in Venezuela now. The government has failed them so they turn to other sources. Smuggled food is going to trade better in gold, silver and crypto than it is in their failed currency.
I think that guy has just played to many post apocalyptic video games. Gold and silver has been used through out the world since recorded history. Through every bubble, crash, recession, depression, and act of god. Crypto is the digital incarnation of money and as long as there is an internet, crypto will be used. But just as gold and silver is subject to theft, crypto is subject to its own risks. Which is why diversification is always paramount.
Gold
Silver
Food
Guns and Bullets
Water
Crypto
Land
All things you want be invested in. All things that will always have worth and each has its own risks.
Do you know how long the tech mania Bullitt went on before finally collapsing? Years. It started in the mid 1990s and didn't collapse until 2001.
You're absolutely right about the valuation on these retarded eth ICOs. However, consider that since most of them are flush right now, funding likely won't run out for most of them until at least 2020. That's 3+ years away. With that in mind, there's plenty of time for fomo, and we haven't even seen grandpa peeping his 401k into crypto yet, which means we're still several years or from the truly weak hands.
Big money dont agree with you and see crypto at 5 trillion in market cso over tge coming years. Stop trying to be a hero and top caller it never works well.
World Bank days crypto assets will reach 8 trillion. The bubble has not even truly kicked iff yet.
Bubbles are not based on common sense but greed. Grees has only just begun. Sit back and watch.