PM Daily Market Commentary – 09/18/2020

Login or register to post comments Last Post 0 reads   25 posts
Viewing 4 posts - 21 through 24 (of 24 total)
  • Mon, Sep 21, 2020 - 11:51am

    #21
    phusg

    phusg

    Status Silver Member (Offline)

    Joined: Jul 16 2014

    Posts: 170

    count placeholder1

    PM Daily Market Commentary – 09/18/2020

nhuvelle, I don’t think the bitcoin v PM discussion is meaningless because I’m willing to keep an open mind on which will become more valueable in the future, and how likely I’ll be to cash in on them near when they peak. Bitcoin’s value could become as stable as gold in less than 20 years or it could go to zero, that really is it’s range at the moment, which should warrant caution if you’re at all risk averse. Note I’m not saying nobody should invest in bitcoin at all.

I’m happy to bet on this vs you btw. I will walk the walk.

I don’t think you’ll find anyone on this forum that is looking to wager another. Probably because most people prefer to try to take money from the central banks who are raiding our savings and pensions, by buying some mix of PMs and crypto, but maybe that’s just me.

  • Mon, Sep 21, 2020 - 12:16pm

    #23
    nhuvelle

    nhuvelle

    Status Bronze Member (Offline)

    Joined: Jul 21 2020

    Posts: 53

    count placeholder0

    PM Daily Market Commentary – 09/18/2020

phusg,

I just wrote up a long post but I either deleted it by accident or idk what happened. Maybe a moderator deleted it? Anyway I am glad to hear that you are keeping an open mind on bitcoint. However, the fact that you are conflating bitcoin with “crypto” is a clear sign that you do not yet understand bitcoin.

I encourage you to check out the Michael Saylor interview on the Pomp podcast that he did recently. There is a thread about it in the Current Events subforum titled “accidental billionaire buys bitcoin”. At one point Saylor says bitcoin is 1000x better than gold. A confused responder complains that “he doesnt even explain why it is 1000x better than gold.” Please see my response in that thread as well. I won’t cross post it in here again, perhaps that is why my first post got deleted.

 

  • Mon, Sep 21, 2020 - 01:56pm

    #24
    jmone

    jmone

    Status Silver Member (Offline)

    Joined: Feb 28 2020

    Posts: 243

    count placeholder0

    PM Daily Market Commentary – 09/18/2020

So much for trading sidewise, looks like everything (equities, PM, Commodities, Bitcoin) sold off hard last night (my time) with the exception of the USD.  Run to cash?

  • Tue, Sep 22, 2020 - 12:56am

    #25
    phusg

    phusg

    Status Silver Member (Offline)

    Joined: Jul 16 2014

    Posts: 170

    count placeholder0

    PM Daily Market Commentary – 09/18/2020

Someone I follow happened to write an interesting overview on where we are and bitcoin v precious metals just a few days ago: https://johnonstocks.wordpress.com/2020/09/19/bitcoin-precious-metals-and-the-store-of-value-trade/

One nugget that I’ve probable read many times but hadn’t sunk in with me yet was this:

In addition, many investments in funds tracking the gold price rather than physical gold tend to dilute the price further, as these vehicles often don’t hold the physical commodity.

Viewing 4 posts - 21 through 24 (of 24 total)

Login or Register to post comments