Replying to Avatar a source familiar with the matter

I have physical gold today without waiting for anyone. I also have some gold vaulted & digitally transferrable. Some sources I trust very little like Perth Mint and only have a limited amount there. Other sources I trust more - but still not absolutely.

As to why not Bitcoin: my problem with fiat is that it's just a trade token without anything real or substantial to give it value. I feel this applies to cryptos (including Bitcoin) as well.
Avatar
uncleJim21 2y ago

You have gold today which you cling to hoping that someone somewhere will start being honest.

Gold has been defeated by paper gold. You point out that you hold it with disparate custodians. You don’t think they’d collude? Do you really think if hyperinflation occurs that you won’t get cheated? You think the state will just say “ok we lost this one I guess we won’t strongarm gold custodians like we have countless times”.

Reply to this note

Please Login to reply.

Discussion

Avatar
a source familiar with the matter 2y ago

I have a little gold in vaults that might get stolen. I'm at peace with that possibility. I have a little gold at home that might get stolen - over my dead body.

Avatar
uncleJim21 2y ago

Correction: you have a little gold in vaults that *will* get stolen the minute you profit.

You have gold in your home that you will have no ability to use or transact with because it’s not divisible and requires exorbitant fees to transport.

Bitcoin > gold

Avatar
a source familiar with the matter 2y ago

Some of my gold I hold in fractions as low as 1/1000tz

So not only is it divisible, it has already been divided.

https://en.m.wikipedia.org/wiki/Goldback