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I see your point on inflation-beating assets, and it's a fair point, but my only real point was that, that isn't what most people understand as a quote store-of-value unquote, so using it in that way is likely to confuse. As the Wikipedia article mentions, a store of value is primarily about risk management, not profit. And that's something that most people come to value more as they get older, rather than less.
I think I can cover most of the rest with the rejoinder that past performance is not (necessarily) an indicator of future performance.
Back to the present, and Gold looks to be trying to break out to me...
e l, my idea of a store of value is an asset that outpaces inflation, thus far bitcoin has done this spectacularly. use a decade then , cnr sp is worth a fraction of what it was ten years ago , even forgetting about inflation. you obviously wouldn't like to view the 10 year chart for bitcoin. if you look at the charts for microsoft ,apple, amazon etc that is the likely parallel for certain cryptos imv. there are plenty that will wither just like there are in the mining sector and tech sector.
yes my idea on timescales differ from you and many here. like the predicted timescale for production. most predicted production before the recent elections and 100 - 120 m shares in issue .
so, 4 decades, gold price hit $720 peak in Aug 1980, finally bottomed Nov 2000, 20 years later at around $ 260 and only regained its 1980 peak in 2008 . Its now around $1840 . That is not a great store of value over 40 years when real inflation is around 10% a year giving a devaluation in real terms of 400% which is considerably more than the appreciation in the gold price which is around 250% by my rudimentary maths for that period.
bitcoin has re traced less than 50 % over the last 3 months , and is still in positive territory for the year, not many goldies that can claim that.
I am heavy in goldies and crypto so no particular axe to grind and can have a balanced view . hoping both will do well over the next couple of years however I am in my fifties so not really wanting to look 50 years in the future . crypto is happening fast now but still early days and I think in 5 years time, which is nothing to a cnr investor many will realise they were slow on the uptake just as I feel thinking back when I was offered payment for a job in bitcoin when it was $700 a pop by a friend of mine that I missed a great opportunity considering even now after a 40% retracement its around $37k . it maybe a matter for debate but thus far seems to be winning the debate to me. bitcoin is successful because of its very limited supply which is one of the reasons your cnr shares are worth a fraction of 10 years ago , because of the amount of shares issued since, particularly the last 5 years
personally hoping for a bigger re trace in in crypto and shares including cnr. I prefer to buy when things are hammered . gives you a fighting chance.
I'm not sure that a "store of value" is what you think it is. One can only really judge whether it's a store of value or not in the rear-view mirror, and quite a long way at that. (To clarify my meaning, since we usually have different views on timescales - I'm talking decades at a minimum and centuries really.)
"The point of any store of value is risk management due to a stable demand for the underlying asset."
"Cryptocurrency's role as a store of value is currently a matter of debate."
https://en.wikipedia.org/wiki/Store_of_value
e l, agree it is a sell all situation like march 2020 , the only thing different is the gold price hasn't tanked. car has fared pretty well today considering.
bargains galore now. simms, as regards bitcoin, it isn't a safe haven but it is a store of value . gold is a safe haven but not such a great store of value. gold price is not much more than double its early eighties peak. when bitcoin hit $4 k in march 2020 it was a screaming buy . I am looking to buy crypto and shares very soon. I see a 50 -60 % correction for bitcoin . Different kettle of fish for some others but just watch for the re bound in a couple of months or earlier . I see a bottom in the next month and some nice gains going in to spring.
some good tech stocks getting hammered too imv. adding some more shop, cube, micro strategy and possibly dip my toe in with tesla e l . lol. ;0
happy hunting guys , these are the times when money is made. cnr not dropped enough for me yet tho.
https://www.bloomberg.com/news/articles/2022-01-24/world-s-top-gold-etf-sees-holdings-surge-in-bullish-demand-sign?sref=Em01M8Hr
https://www.mining.com/web/gold-stocks-surge-back/
and a cheeky re-post of an article a few didn't appreciate the first time around...
https://behavioralvalueinvestor.com/blog/bubbleburst
Market is in "sell everything" mode. Once the dust settles and the market regains it's senses (until the next manic-depressive episode), we'll be better able to evaluate where we really are. It's impossible to tell on a day like today.
Most news is released ASAP - stock market rules to limit potential for insider trading - but good news would be ignored on a day like today and bad news would be punished.
These kind of circumstances are why one invests in gold in the first place - not necessarily to make money, but at least not to lose it. (Gold-based *equities* are another matter of course!)
Looks like a combination of the Bitcoin bubble, inflation worries, interest hikes and Putin all having an market impact together but why is gold not jumping? Surely gold and Swiss franc is all that remains of safe havens but gold seems very unloved. Even Bitcoin that appeared to try and take the safe haven mantle is 50% down and it is just a matter of time before Crypto exchanges stop withdrawals as their cash holdings are depleted. I suspect some exchanges will stop withdrawals very soon as they did back in the last Crypto crash that everyone forgets. if investors are no longer able to convert crypto to cash what will the price be? The question also is how this impacts gold prices as so far it seems all this is causing gold to fall. some people might sell off their gold first to stem their losses elsewhere . Come on MC it is a perfect time to release some good news for Condor so investors can move into Condor. The lack of news for several months is not helping.
That’s fine and dandy however I can’t keep throwing endless amounts in the hope of better times? I’m already over £60k down at the current price and into the second decade of my sentence, without any hope of parole any time soon!
Always a great time to buy when the chips are down. Not a stock you can buy any amount of when the buyers in town. Having been buying over the last week.