[AdamB]

We hold gold but only in jewelry form, no paper gold. The gold looks way nicer on my wife of 50+ years than it would in some vault.
PEACE (I hope)

I sold 2 motorcycles somewhere in the last century to satisfy my wife's first desire to decorate herself with gold when we married. One motorcycle for the ring, and another for the stone. It just gets worse with each decade anniversary. She has no interest when it is in coin or bar form. I figure she's forgot about it by now, I bought it before I married her, and it just hasn't ever...DONE...anything. Just sat there and sucked in terms of value growth compared to the market funds.

[theluckycountry]

No point in discussing Gold prices with people who don't even realize it's priced differently in different countries. A bit like discussing stellar evolution with a room full of astrologers. To them the stars are just pretty patterns in the sky that tell them when they are going to fall pregnant or when their dog will die.

Gold astrologers, I like it

[careinke]

No point in discussing Gold prices with people who don't even realize it's priced differently in different countries. A bit like discussing stellar evolution with a room full of astrologers. To them the stars are just pretty patterns in the sky that tell them when they are going to fall pregnant or when their dog will die.

Gold astrologers, I like it

Who cares what fiat gold is priced in, all fiats will eventually be worth $0.00. Always have always will.

Peace

[AdamB]

No point in discussing Gold prices with people who don't even realize it's priced differently in different countries.

No point in discussing oil with cretins who can't even pick their favorites from a list, but we do it anyway.

Besides, no one cares what the descendants of murderers and rapists and thieves and whatnot think about investing, those of your countrymen with IQs and better genes are probably already in NYC trying hard to live up to American exceptionalism. Having left the kangaroo riding high school dropouts behind.

[AdamB]

Who cares what fiat gold is priced in, all fiats will eventually be worth $0.00. Always have always will.

Peace

Does it also happen to other financial stuff like bitcoin and others like it? I thought a common argument that has been claimed since peak oil mania revealed people don't know dick about oil, was that all the paper and fiats and digital stuff fails, and only the folks left with PMs would be the winners?

I mean, it was quite a popular idea, and just because the folks espousing it didn't know squat about oil (or history, or math, or physics, etc etc) and dropped the topic, they don't seem to have abandoned the entire "world ending, buy PMs!!!" angles.

[theluckycountry]

Who cares what fiat gold is priced in, all fiats will eventually be worth $0.00. Always have always will.

This has to be one of the dumbest posts I've read here in a long time. Imagine you said that 100 years ago... You'd be long dead and the buck is still in circulation. But if it goes, and the aussie goes, Gold will still be worth what's worth in whatever currency replaces them, or exchangeable direct with about 3 Billion people on Earth. And that's been a proven fact for over 5000 Years. You coinheads are living in a video game, a virtual reality land.


"Come back to reality, Dom. Please"

[theluckycountry]

and don't you try and talk your way out of anything either adam, every time you touch the keyboard your error and ignorance only increases. You're like one of those spots a dog excretes on the side of a car

https://www.youtube.com/watch?v=3GBAhAIS-KQ

[AdamB]

and don't you try and talk your way out of anything either adam,.....

Name anything I NEED to talk my way out of...something I said of course, not what you say about me that isn't true.

..... every time you touch the keyboard your error and ignorance only increases.

Here is the list of global benchmark crudes, you've had a week or more now, pick out those that are conventional. Eeny Meenie Miney Moe....stupid Australian runs and hides because he can't pick off lists like an 8 year old can....

[theluckycountry]

Now don't be nasty adam, I wasn't saying anything that isn't common knowledge. You know nothing about gold other than what you've seen on the TV and we don't need that drivel here.

It would be so nice to go too a forum where people actually used their brains instead of regurgitating marketing spiels on every subject.

[careinke]

Who cares what fiat gold is priced in, all fiats will eventually be worth $0.00. Always have always will.

This has to be one of the dumbest posts I've read here in a long time. Imagine you said that 100 years ago... You'd be long dead and the buck is still in circulation. But if it goes, and the aussie goes, Gold will still be worth what's worth in whatever currency replaces them, or exchangeable direct with about 3 Billion people on Earth. And that's been a proven fact for over 5000 Years. You coinheads are living in a video game, a virtual reality land.


"Come back to reality, Dom. Please"

Well Lucky, let's put your bold statement to the test—whether it's me with the "dumb post" or just another of your misguided predictions. A bit like your repeated claims that BTC was going to zero over the last three cycles, which turned out to be far from reality.

I'm willing to bet that by the end of this year, one Bitcoin (BTC) will buy more ounces of gold than it can today. I'll track this using U.S. fiat dollars since it’s the most convenient metric for me. Just so you can follow along, here's my arithmetic: BTC price ($94,237)/Gold price ($3,318) = 28.4017 ounces of gold for one BTC.

If, by January 31, 2025, one BTC can buy 28.4018 ounces of gold or more, I win the bet. If it buys 28.4016 ounces or less, you win. Let’s keep the stakes moderate: the loser makes a public apology and donates $100 to a charity chosen by the winner—receipts required.

If you'd rather track it in Aussie dollars, feel free. I’ll even make an additional $100 bet that you’ll be able to buy more ounces of gold with Aussie fiat dollars-priced BTC, given their currency is depreciating faster than the U.S. dollar. After all, history shows that all fiat currencies eventually fail.

If you accept the bet(s), I trust you'll honor them. If not, I understand—but I’ll still keep track and share the results with you.

As for other members, I’d love to hear your predictions. No bets necessary—just your thoughts!

Peace. P.S. I do appreciate gold; I believe it’s the second most sound form of money out there, which is why we own quite a bit—but in the form of jewelry. The challenge with gold lies in its dependence on human involvement in transactions, which can be imperfect. BTC, on the other hand, operates through mathematical algorithms, enabling faster final settlements without a central authority.

[AdamB]

Now don't be nasty adam, I wasn't saying anything that isn't common knowledge.

You don't KNOW anything except "common knowledge", as you are limited by your education and natural ignorance. It isn't my fault that your personal limitations preclude you from picking things from lists.

How do you order in a restaurant....just grunt and point at what others have in front of them because you can't pick off the menu?

You know nothing about gold other than what you've seen on the TV and we don't need that drivel here.

Okay, FINALLY you say something that isn't chock full of Lucky-stupid. I don't know anything about gold. Because I don't care mostly, but mine was an impulse buy decades ago. And guess what? My impulses, when I was young and nearly a child, meant that I was buying it before you learned to spell it.

And then, with some more age, I realized that market tracking funds would probably beat it like you are by an 8 year old in a math contest. Or grandma ordering off a menu at a restaurant.

[AdamB]

Peace. P.S. I do appreciate gold; I believe it’s the second most sound form of money out there, which is why we own quite a bit—but in the form of jewelry. The challenge with gold lies in its dependence on human involvement in transactions, which can be imperfect. BTC, on the other hand, operates through mathematical algorithms, enabling faster final settlements without a central authority.

See Hitman, this one still stumps me. I've never thought of gold as "money" per se, just something of value that you tuck away as a "just in case". And then forget about because it never appreciates as well as the market does over the last near half century. Its pretty, and the kids might think it is amusing when pops dies, but never in my life have I whipped out a Kruggerand and said "Hey! Take this for a motorcycle!" or something like that.

And if memory serves, I once asked you how I could have performed my last motorcycle sale using BTC, and you referred me to a book or paper on the subject.

In the case of the motorcycle, I can at least see HOW I could take a Kruggerand, slice off some chunk of it, and hand it to someone. But having no bitcoin account, if I did, is it like sending someone money using Zelle or something like that? I HOPE that the buyer has a BTC account, he HOPES I have one as well, and I send his email/phone number some bitcoin?

I've never been asked by anyone to pay in bitcoin, or been asked for it in payment. So while it might be based on math, it sure isn't convenient unless both parties are able and willing to transact in that form. As opposed to them handing me an an envelope of $100 bills, or me handing one to them in exchange for a thing. Which has worked quite well my entire life, and requires no special training or knowledge, or even a phone or email address.

[AgentR11]

And if memory serves, I once asked you how I could have performed my last motorcycle sale using BTC, and you referred me to a book or paper on the subject.

In the case of the motorcycle, I can at least see HOW I could take a Kruggerand, slice off some chunk of it, and hand it to someone. But having no bitcoin account, if I did, is it like sending someone money using Zelle or something like that? I HOPE that the buyer has a BTC account, he HOPES I have one as well, and I send his email/phone number some bitcoin?

There aren't "BTC accounts". There are wallets and addresses. You create the wallet yourself out of a string of random words that you choose. For non-interesting amounts, you can do this with a phone app. Once you have a wallet, the seller can create a send-to-me address; you (owning bitcoin on your phone), can scan a QR code generated by the seller that has the info of that send-to-me address, and SEND SOME BITCOIN to it. That SEND command gets munched up into the ether, and will (usually) clear via so-called "miners" in some non-trivial amount of time. When it clears it registers in the sellers wallet, less a modest processing fee that the miners keep. Keep in mind, this is NOT a zero timespan activity.

It *DOES* work. I have used it. It is an absolute, royal pain in the butt to account for properly, as the transaction is a capital gain/loss that you have to record at the time you execute the SEND command, and then report at the end of the year on your taxes. No where near worth the trouble to buy a pizza with. I could see buying or selling a motorcycle or high end desktop computer, or even real estate or gold... maybe.

A funny side note, while I did spend most of the half-bitcoin I bought long ago, the leftovers that sit on my phone are now worth over twice as much as what I paid for that initial blob of bitcoin, and are actually worth more than the phone itself. I just ignore it for the most part; its not really worth the trouble to cash-out, nor spend, I keep it more as an amusement. So while I have other stuff as a store of value, I have little interest in saving up bitcoin. I have no confidence that the events that would cause me to want to spend the bitcoin, would nicely align with events keeping bitcoin value high. There is nothing out there to stop bitcoin from falling to $10/btc at the same time I want to use it. Gold is better, bonds are better, equities are better, though none are guaranteed to retain value, I think their odds are adequate to my needs.

[AdamB]

And if memory serves, I once asked you how I could have performed my last motorcycle sale using BTC, and you referred me to a book or paper on the subject.

In the case of the motorcycle, I can at least see HOW I could take a Kruggerand, slice off some chunk of it, and hand it to someone. But having no bitcoin account, if I did, is it like sending someone money using Zelle or something like that? I HOPE that the buyer has a BTC account, he HOPES I have one as well, and I send his email/phone number some bitcoin?

It *DOES* work. I have used it. It is an absolute, royal pain in the butt to account for properly, as the transaction is a capital gain/loss that you have to record at the time you execute the SEND command, and then report at the end of the year on your taxes. No where near worth the trouble to buy a pizza with. I could see buying or selling a motorcycle or high end desktop computer, or even real estate or gold... maybe.

Well, that is interesting. I suppose if it was worth the effort, either if I wanted to buy or sell something and had the time to prepare for it, I could manage it.

Of course, when I get offers for something I'm selling that appear to be slightly off kilter, I usually respond in email, text or in person that "well, I don't know if that would work for me, but XXX 100 dollar bills in an envelope certainly would". Everyone I've ever dealt with, in the last century or this one, understands how that system works.

There is nothing out there to stop bitcoin from falling to $10/btc at the same time I want to use it. Gold is better, bonds are better, equities are better, though none are guaranteed to retain value, I think their odds are adequate to my needs.

That lines up with how I thought it worked as well. Because of its relative newness and it not being really a currency or a fiscal instrument or an investment, it has advantages and disadvantages based on circumstance. Diversification has always struck me as reasonable, but I've had no reason to diversify into bitcoin yet.

[theluckycountry]

There aren't "BTC accounts". There are wallets and addresses. You create the wallet yourself out of a string of random words that you choose. For non-interesting amounts, you can do this with a phone app. Once you have a wallet, the seller can create a send-to-me address; you (owning bitcoin on your phone), can scan a QR code generated by the seller that has the info of that send-to-me address, and SEND SOME BITCOIN to it. That SEND command gets munched up into the ether, and will (usually) clear via so-called "miners" in some non-trivial amount of time. When it clears it registers in the sellers wallet, less a modest processing fee that the miners keep. Keep in mind, this is NOT a zero timespan activity.

It *DOES* work. I have used it. It is an absolute, royal pain in the butt to account for properly, as the transaction is a capital gain/loss that you have to record at the time you execute the SEND command, and then report at the end of the year on your taxes. No where near worth the trouble to buy a pizza with. I could see buying or selling a motorcycle or high end desktop computer, or even real estate or gold... maybe.

A funny side note... So while I have other stuff as a store of value, I have little interest in saving up bitcoin. I have no confidence that the events that would cause me to want to spend the bitcoin, would nicely align with events keeping bitcoin value high.

An Interesting incite into transacting with BC from an actual hodler. And of course you're correct that even Gold is not guaranteed to hold value at all times in all conditions. I think though that the marketing of BC, selling it to consumers as "Digital Gold" was disingenuous. It has in no way performed like Gold over it's (limited) history and has in fact mirrored the equity markets, primarily the tech stocks. Investment savings are for use in the good times and in the bad times but it's only in the bad times that you really Need them to be there, to pay your bills and live off.

Now consider buying a used car off your neighbor for cash. This is true peer-to-peer, only two people are involved. The P-P digital systems are different, and I would say they have twisted the meaning to suit their schemes. Now correct me if I'm wrong, but a BC transaction also involves the resources of the ledger, the miners doing the proof of work, it's not true P-P but is little different to the processes behind an ATM transaction at the supermarket in that respect. The old Limewire etc were a lot closer to a P_P system though even they depended on multiple third parties to complete the deal.

My question is, if there is a blackout, like the 24h one that just took out the Iberian peninsula, at the moment the miners are crunching the numbers, is there corruption, like when you have a power failure updating software? During that non-trivial time you spoke of the BC is in limbo is it not?

[theluckycountry]

Gold Soars $145 in 48 hours as China Takes Charge
Don't listen to any of this nonsense, a couple of days ago they were blaming China for the big retraction in price. These commentators have to justify their desks so they come up with dribble like this all the time. It reminds of the oil price commentary where they'd blame an oil shock on a tanker sinking or a minor outbreak of war somewhere obscure. The reason Gold's been going higher is because it's a Tier one monetary asset and it faithfully tracks inflation in the US dollar and other currencies. Half the world has been buying it for when the US dollar system falters for this very reason.

[careinke]

Who cares what fiat gold is priced in, all fiats will eventually be worth $0.00. Always have always will.

This has to be one of the dumbest posts I've read here in a long time. Imagine you said that 100 years ago... You'd be long dead and the buck is still in circulation. But if it goes, and the aussie goes, Gold will still be worth what's worth in whatever currency replaces them, or exchangeable direct with about 3 Billion people on Earth. And that's been a proven fact for over 5000 Years. You coinheads are living in a video game, a virtual reality land.


"Come back to reality, Dom. Please"

Well Lucky, let's put your bold statement to the test—whether it's me with the "dumb post" or just another of your misguided predictions. A bit like your repeated claims that BTC was going to zero over the last three cycles, which turned out to be far from reality.

I'm willing to bet that by the end of this year, one Bitcoin (BTC) will buy more ounces of gold than it can today. I'll track this using U.S. fiat dollars since it’s the most convenient metric for me. Just so you can follow along, here's my arithmetic: BTC price ($94,237)/Gold price ($3,318) = 28.4017 ounces of gold for one BTC.

If, by January 31, 2025, one BTC can buy 28.4018 ounces of gold or more, I win the bet. If it buys 28.4016 ounces or less, you win. Let’s keep the stakes moderate: the loser makes a public apology and donates $100 to a charity chosen by the winner—receipts required.

If you'd rather track it in Aussie dollars, feel free. I’ll even make an additional $100 bet that you’ll be able to buy more ounces of gold with Aussie fiat dollars-priced BTC, given their currency is depreciating faster than the U.S. dollar. After all, history shows that all fiat currencies eventually fail.

If you accept the bet(s), I trust you'll honor them. If not, I understand—but I’ll still keep track and share the results with you.

As for other members, I’d love to hear your predictions. No bets necessary—just your thoughts!
BTC.
Peace. P.S. I do appreciate gold; I believe it’s the second most sound form of money out there, which is why we own quite a bit—but in the form of jewelry. The challenge with gold lies in its dependence on human involvement in transactions, which can be imperfect. BTC, on the other hand, operates through mathematical algorithms, enabling faster final settlements without a central authority.

Unlucky,

I just noticed you did not reply to this post, good thinking, avoid the embarrassment. Right now, I can now buy ANOTHER 2.5 ounces of gold with One bitcoin than my original post for a total of 30.952 ounces of gold = 1BTC. Winning is so easy competing against you.

OH, I did notice I put the end date 1 Jan 2025, typo of course I meant 2026. So, if you want, we can start the bet with today's prices. I'll still win.

Peace

[AdamB]

Unlucky,
I just noticed you did not reply to this post, good thinking, avoid the embarrassment.

From a general observation perspective, he doesn't appear to mind looking at uneducated as he is. I mean, even a monkey has the ability to LEARN, but Lucky seems to have stopped early and given up on that particular exercise.

[theluckycountry]

This was a big part of your problem.

American exceptionalism is a real thing. We the People of the United States should be proud of our heritage. That recognition does not justify American supremacism, however. Nor does it mean our safety, security, or sovereignty depends on what other countries do and believe.

The United States embraced some humiliating defeats not just on September 11, 2001, but in the waning year of the George W. Bush administration, when risky financing and overextended loans inflated housing prices and unleashed the Great Recession.

Instead of taking stock of where we were wrong, we went with a false messiah, Barack Obama, who chimed, “We are the change we have been waiting for.” But we were the ones who caused our own downfall. How could we make changes if we did not change?

From this self-righteous refusal to own our failures came the Occupy Movement, Black Lives Matter, and the re-radicalization of race. Obama long harbored bitter disgust for the United States, and he seduced the American public. Under the Obama Administration, humility was minimized and disparaged, for sure. One of the most repeated words in the 44th president’s speeches was “I.” It was all about him, and to hell with America.

And the country was humbled for the worse. Obama called us all racist and insisted that we needed the government to run our healthcare. He exhorted us to flood our country with “undocumented immigrants” so that we could pay back for all the wrongs that American imperialism had caused. America fell into decline.

America’s further humbling came under bumbling Joe Biden. Defined by Biden-Harris’ arrogant incompetence, suffused with dementia and DEI, America became weaker, worn out, and adrift, all while witnessing the left’s culmination of all their wishes. Obama got his third term.

He wasn't even Black He was a halfcast you idiots.
And they are the biggest haters too because they know they don't fit into either race.
He was more White than Black and was raised by White people of privilege What a joke.

[AdamB]

He wasn't even Black He was a halfcast you idiots.
And they are the biggest haters too because they know they don't fit into either race.

You learned this from your Nazi boy camp teachings, or is there a little more than half aborigine in your ancestry?

At the end of the day, he was an American President. And made sure that America wasn't on its knees to a King, like his predecessors.

A requirement of your figurehead....on his knees...on YOUR behalf.