Official saddo financial thread

[walrus]

Crypto like Bit coin is just as good as gold in terms of reasoning. It isn't FIAT as there is only a limited supply of Bitcoin, but it does have flaws. For instance, when an EMP hits or you end up like Puerto Rico there really isn't much you can do with it. China is already clamping down on it, but like you pointed out, governments will want to use crypto as a means of ultimate control. Basically I want freedom and it's harder and harder to have freedom.

Miles it is Fiat, fiat has nothing to do with how much is available but the fact it is based on nothing but what people think it's worth. Some economists argue it is a Ponzi scheme as the only thing bringing up the price is those getting in now. Some of these Bitcoin guys think the value will never drop. That would mean crypto is the only investment vehicle in history that had never had a correction or crash. Bitcoin and such is nothing but a modern tulips craze @Gandalf

[Gandalf]

It is a limited supply of nothing though which differentiates it from Fiat. The supply of Bitcoins is limited and cannot grow forever. Fiat currencies are all based on ponzi schemes and growing forever. Quite different. An ounce of gold will always buy you a new suit, the same cannot be said of 5 dollars.

[walrus]

It is a limited supply of nothing though which differentiates it from Fiat. The supply of Bitcoins is limited and cannot grow forever. Fiat currencies are all based on ponzi schemes and growing forever. Quite different. An ounce of gold will always buy you a new suit, the same cannot be said of 5 dollars.

https://www.google.com/amp/s/www.for...ust-a-car/amp/

@Gandalf you r prob need reading these links I slupply but yes Bitcoin is fiat. It does not matter that it is limited it matters what asigns it's value. It is even more risky than traditional fiat. The US dollar being fiat has value as people trust in the us economic system and the governments backing. Bitcoin is based on what. You can't say oh it's limited as that is not an answer. The dollar had crashed in the past even under the gold standard. Bitcoin is confusing as we did not grow up with it but to begin to understand you must grasp that it is a fiat currency. The article above begins to explain it. Several other links in my fine financial thread do the same and even explain why the whole crypto thing is a Ponzi scheme

[walrus]

http://www.econmatters.com/2015/04/g...-2020.html?m=1

Here is an opinion of gold

[Master]

http://www.econmatters.com/2015/04/g...-2020.html?m=1

Here is an opinion of gold

That is bias and an advert. The world is not falling apart. It is diverse as it has always been.

[Gandalf]

I think the world is falling apart as evidenced by population expansionism and a refusal to get real regarding our economic, political and social systems. I wish it wasn't the case, but we seem to be in terminal decline. Let's ask the species of the world how they feel about humanity. This is the anthrocene, and we are the virus, turning everything to extinction and yet we plod in refusing to change. I wish it could be another way, but Trump is there, the Tories are there and the drums of war march everywhere. It looks dark.

[Master]

I think the world is falling apart as evidenced by population expansionism and a refusal to get real regarding our economic, political and social systems. I wish it wasn't the case, but we seem to be in terminal decline. Let's ask the species of the world how they feel about humanity. This is the anthrocene, and we are the virus, turning everything to extinction and yet we plod in refusing to change. I wish it could be another way, but Trump is there, the Tories are there and the drums of war march everywhere. It looks dark.

We will colonise new planets and worlds. Embrace the change.

[walrus]

http://www.econmatters.com/2015/04/g...-2020.html?m=1

Here is an opinion of gold

That is bias and an advert. The world is not falling apart. It is diverse as it has always been.

I hear u master but with investments I need to look at everything. Tragic events do bring gold up. Sometimes u need to ask yourself do u think the next 5to ten years something catastrophic might happen be it a market crash, war, decline in the dollar or euro or miles leaving the forum. You would ask yourself the same question when investing in weapon makers stocks or insurance stocks. It's not hoping these things happen but being prepared and having insurance for it. I think the article mentioned gold could go down to 800 this year that would be quite a drop certainly no sales pitch. Historically negative events and panic drive gold up. After an 8.5 year bull market we are statistically due for a correction which will bring gold up. I find all this shit fascinating and I've always been amazed how people make shitloads of money just moving shit around. I put a relatively small amount of money in tesla stock and tripled my money in under six months. I can't do that at work.
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