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Yep Canetoad.
Am holding Cey and Poly as my goldies as think way undervalued presently.
Cheers.
@Steve: "5years of holding cryptos with a small part of portfolio has massively outperformed anything by a country mile- taken out already 3 times my original investment and still the biggest profit- my only regret"
Likewise. I used to actively trade gold miners (Shanta, Centamin, Barrick, etc. etc), but my profits from trading BTC- and BTC miners has been an order of magnitude bigger.
I'm still very keen on gold, but there is no doubt that the balance of interest has shifted away. BTC is now a bigger currency than the Swiss Franc, while highly respected investors, including George Soros, Paul Tudor Jones and Ray Dalio are all holding a small amounts of BTC.
I used to think that BTC had no value, but that's a flawed way of thinking. All commodities and currencies only have value given by the market. There is nothing supporting the price of gold except sentiment for it. If that sentiment continues to drop, we're in a lot of trouble holding shares like CEY. I'm hoping that as the paper gold from the derivatives market is replaced with real gold that the price will surge, but that's becoming a big gamble - just as risky as investing in BTC.
Well ..I have put out a call to my son tonight ..he has offered to explain to me in simple terms of the errors of my ways ...in a very patronising tone of voice ..
It isn't that long ago that he was shocked to discover that I was father Christmas
It’s like you’re filming “the big short (BTC version)” live in that taxi Candid haha.
Good idea Steve...where's the booze !!!
My taxi driver told me yesterday that he is thinking of using his savings from his deposit for a new house to invest in bitcoin so that he can buy a house outright on the profits from it when he sells it in a few months
Mmm...
I already answered your question.
Let's leave this as agree to disagree, and end this one.
Cheers.
Maybe I have Steve .what do you mean and what is its relevance to Bitcoin
Please enlighten me ..sincerely .
Hi Goldgnome .you spoke a few weeks ago about a bitcoin medal and a gold medal for the Olympics.
Have you changed your mind on that one ?
Me thinks the emperor has no clothes.
If you think Amazon.com dies and nothing happens to their market cap- you've lost the plot- in the nicest possible way.
It's a .com business!!!
Amazon ?? Amazon arranges the movement of physical goods from A to B and connects supplier C to buyer X for less cost ..it uses real people to do it
Amazon isn't an investment craze and more than Tessla is...they have made rapid gains because they provide a benefit .
Name another.
I think I will work on a new currency called 'dodge coin' It will cut everyone out ..even bitcoin ..
Sorry ..you need to come up with something better than that..of course as always , I might be wrong , I accept that ..
Massive list just look at the Nasdaq - I’ll open with Amazon
Thanks Steve , I am open to changing my mind ..but name me one investment craze that crypto is experiencing that has lasted the test of time , whether that be tulip bulbs , dot com companies ( they were around for years ! ) or sub prime mortgages ..just one and I might change my mind
Oh wait ...it's different this time...
Me thinks not ..you haven't addressed my energy point .or the slight matter of taxation ..where are the governments going to get their revenues to fund schools , hospitals and road building to name just a few
Honestly , how can you have a revolutionary medium of exchange which has such violent price swings of . Gold is no longer a currency as such , but at least it can be used to make things with ...Gold has been around for centuries , and it too has a limited mine life of extraction (only 20 % remains .I don't buy into crypto..although who knows, maybe I am a dinosaur after all ..my son will agree with you on that one and he is much brighter than I ever was , even before epilepsy harmed my ability to remember my own critical thinking skills .
Just of a matter of interest , how many crypto currencies in existence are there ..I counted about 50 at one point..what will happen to them ?
*replace do it with don’t
5years of holding cryptos with a small part of portfolio has massively outperformed anything by a country mile- taken out already 3 times my original investment and still the biggest profit- my only regret, not having bought in with a greater % of my portfolio. Am conservative by nature and my portfolio is diversified- the next highest risk items in my portfolio are gold stocks. I do it plan to increase my % in gold stocks or crypto- happy with my overall risk strategy
Tell you what Steve ..I have a £20 note in my pocket ..you can have it for £25 and sell it to Gold Gnome for £30
Sorry , I respect you both enormously, but I think you have made a wrong call on this .
Time will tell ..
Here we go again, the old tulip one dragged out- you need to understand how it is mined and works it’s not going away- crypto is here to stay and more and more use it as currency. Why are people so against it? They like paying fx transfer fees, bank fees etc etc nuts
Crypto/ bitcoin is essentially pyramid selling. But I suppose you have to ask what is the value of anything? If you were stuck in the middle of nowhere how much use would bit coin or even a small piece of gold be? Food, something to light a fire , a knife would all have more value. I suppose gold will have some value for use in industry/ electronics etc and even if its value went down greatly I suppose people would still like it for jewellery.
Back to the pyramid selling. I suppose the Dutch tulip bulb "Tulip mania" was similar, in that some people made a lot of money but at the end a lot lost out.
More recently, the selling of debt and the sub prime mortgages. People were selling on bits of paper and people were thinking that the paper was worth what it said on it. It was like writing out cheques when there isnt enough money in the bank.
There is a fair chance that bitcoin will continue to go up and down for a while yet and some people will win and some will lose trading in it. Eventually it will go bust and some people will lose a lot of money on it. It is a game of pass the parcel and at some point the music will stop. Or maybe is it more like a game we used to play as kids , called "catch the bomb", where a ball was thrown round a circle while people counted down. The person who had the ball at the end of the count was "IT"
Thank you for taking the time to reply Candid.
Your exit point for CEY is slightly above mine. I’ve got mental sells at 110p / 120p / 130p. I am just about in profit at the moment. Loved the divvies.
Good points re NRR. I agree. Tough spot. I did nearly pull the trigger for a 5% loss (should have now!!). Imo the sale was madness!!
I think people get confused about crypto's NFT and blockchain, and how these all relate. The NFT market is wild, unregulated and makes punting on Junior Explorers look risk free in comparison.? Yes, there is an element of pyramid selling in some of the crypto's whilst some are ... amazing. Apparently you can set you won crypto up now, using Freelancer and some Indian geeks (nothing against the Indians) for a few thousand dollars, and on the show goes....
But this aside there is some very solid logic behind the advantages of blockchain technology in asset management, financial transactions. The "sytem" at the moment is a complete shambles almost, and no self respecting engineer would own up to it. It lurches from ne disaster to the next, one scandal to the next, more money on the black side, than in the white..so to speak.
A blockchain is a decentralized ledger of all transactions across a peer-to-peer network. Using this technology, participants can confirm transactions without a need for a central clearing authority. Potential applications can include fund transfers, settling trades, voting, and many other issues.
Its taking out the "central clearing authority" that is very appealing.
https://www.pwc.com/us/en/industries/financial-services/fintech/bitcoin-blockchain-cryptocurrency.html
HENRY FORD: The people are naturally conservative. They are more conservative than the financiers. Those who believe that the people are so easily led that they would permit the printing presses to run off money like milk tickets do not understand them. It is the innate conservation of the people that has kept our money good in spite of the fantastic tricks which financiers play-and which they cover up with high technical terms. The people are on the side of sound money. They are so unalterably on the side of sound money that it is a serious question how they would regard the system under which they live, if they once knew what the initiate can do with it.
best
Crypto ? Pyramid selling ..
Here is what the Oz Govt and the punters think about Crypto and block chain...
....the digital asset sector has grown far too big for governments to ignore. It is valued at $2.8 trillion, Bank of America said in a report this month, which found 221 million users worldwide had traded a cryptocurrency or used a blockchain-based application as at June – four times higher than a year earlier. The committee took evidence that 17 per cent of Australians owned a cryptocurrency; the Australian Taxation Office told it over 600,000 taxpayers have invested in digital assets in recent years.
I am all for structures and processes which take out the middle men in finance, and make financial transactions easily transparent and traceable. The present system is a shonk, and the middle men and women make far too much money for not adding much in value (execept to their own pockets) and far too many fall into the power game...just look at the commodity traders and what they got up to, not to mention the hybrid model of the Brazilian butchers...https://www.thebureauinvestigates.com/stories/2019-07-02/jbs-brazilian-butchers-took-over-the-world
Not to mention the millions which get donated anonymously in Aus to different political parties..all in the name of democracy LOL If you can see this expose it is well worth a watch...
https://iview.abc.net.au/video/DO1914H001S00
best
the gnome
Oh and to add Warren Buffet said last August he’s buying gold …. Timing when?
Ditto hold both
@Squid: "Warren Buffett quotes on CryptoCurrencies :"
Here's what Paul Tudor Jones says.
https://www.youtube.com/watch?v=ZQCGLUVVSd4
I hold both crypto- and gold miners (including a decent allocation to CEY for my sins) and am emotionally attached to neither.