Big Gold Discovery in Russia

Login or register to post comments Last Post 0 reads   4 posts
  • Tue, Oct 27, 2020 - 08:29am

    #1
    Mohammed Mast

    Mohammed Mast

    Status Gold Member (Offline)

    Joined: May 17 2017

    Posts: 1044

    count placeholder0

    Big Gold Discovery in Russia

Well there has been a rather large gold discovery in Russia. What will this do to the price of gold? From the picture (it looks like a Martian landscape) it does not look like the environment will do too well.

So in comparing the scarcity ( that which makes an asset valuable) which is more scarce? BTC or gold? More gold is being “discovered”but there will only be 21 million BTC. Mike Saylor has done a very good job explaining why he chose BTC over gold to park his company’s $450 million treasury.

https://news.bitcoin.com/40-million-troy-ounces-russias-gold-find-reaffirms-bitcoin-as-the-more-scarce-asset/#:~:text=More%20Scarce%20Asset-,News%20of%20the%20discovery%20of%20approximately%2040%20million%20troy%20ounces,of%20the%20%22scarce%22%20resource.

  • Tue, Oct 27, 2020 - 10:28am

    #2
    miguel

    miguel

    Status Member (Offline)

    Joined: Mar 10 2020

    Posts: 17

    count placeholder0

    Big Gold Discovery in Russia

Serious question:

What makes Bitcoin any different than any other speculative asset? We look at Gold as being a hedge against inflation, and now we are assigning some kind of value to BTC in the same light based on scarcity?

Certainly speculation on its functionality (present and future) play into its valuation. If inflation rages on, then the value of the dollar gets killed, and in all honesty, I think it becomes a case of pick your poison.

But if Deflation rears its ugly head, and there are many warning signs out there, then as excess credit gets wiped, so will all speculative assets value relative to the dollar.

So I think it would be interesting to hear a little bit about what would be the most prudent course that could be profitable under both scenarios.

Any thoughts on Swiss Banks as a safe haven under both scenarios? Raging inflation killing the dollar so relatively speaking could provide some value stability, and deflation would still retain increasing purchasing power of cash, if even at a lower exchange rate?

The question is basically what would be the safest type of cash investment that would still retain upside under both scenarios?

  • Tue, Oct 27, 2020 - 12:21pm

    #3
    Mohammed Mast

    Mohammed Mast

    Status Gold Member (Offline)

    Joined: May 17 2017

    Posts: 1044

    count placeholder0

    Big Gold Discovery in Russia

Yes a serious question indeed. You apparently not been here very long so you have missed many responses to your queries.

It seems you are operating from a certain paradigm which might be accurate and might not be. I have no intention of going into a discussion with you as I sense you have deeply held prejudices and belief systems. Any further discussion would devolve into a useless debate and waste of time.

VT Gothic has posted some excellent rejoinders, especially Jeff Booth’s take on the benefits of deflation. You might also check out Raoul Pal at Real Vision. There is a crypto section with great interviews. BTW Raoul at last report had 50% of his assets in BTC and was considering selling his gold to buy more. A very good one with Mike Saylor covers some salient points. Saylor just invested $450 million of his company’s treasury in BTC, not gold or Swiss banks. He explains his reasoning in great detail. You might wish to check out Andreas Antonolpolous on YT

All the best

  • Tue, Oct 27, 2020 - 08:48pm

    #4
    dreinmund

    dreinmund

    Status Bronze Member (Offline)

    Joined: Mar 19 2011

    Posts: 75

    count placeholder1

    Big Gold Discovery in Russia

I just have to laugh. In the past, goldbugs were called fanatics. Well, seems like this torch has rightfully passed to the fervent crypto evangelists…

Viewing 4 posts - 1 through 4 (of 4 total)

Login or Register to post comments