Say goodbye to Crypto

>>3326120
Holy shit stop falling for zerohedge clickbait.
>Backed by Gold
just means that there is a yuan/gold market which has existed for over 1 year now, it's not actually backed by gold.

Well it was fun while it lasted someone give me a link on where I can buy gold with crypto

>>3326184
go home peter schiff, gold will become has been.

What is that site you can buy gold with crypto? I promise I'll save it this time.

>>3326231
jmbullion

>>3326120
They can't. A strong Yuang means no more stuff to sell.

>>3326260
Thanks.

since the 1930's gold has only gone up 4x. that's pretty pathetic. if you had it in stocks instead you'd have had a return of 170x.

gold is not a good investment, it's shiny as fuck but man it's terrible.

>>3326184
https://www.providentmetals.com/
https://www.amagimetals.com/

>>3326361
>millennials only accept 1000% gains in one week or nothing

I can see why none of them are having babies.

Too selfish.

Crypto is a direct reflection of this.

And they think they are going to run the monetary world?

TOP KEK

>>3326260
I don't fully understand how gold purchasing works. The price to buy is always a few dollars above the market price. And certain coins are more expensive than others for the same amount of gold

>>3326436
crypto is a natural reaction to central kiking systems

>>3326466
Numismatics are for suckers. If you want to hedge find the government minted coins or the long standing reputable generics. There will always be an above spot price as long as you are getting the metal from a middle man. Its the way any business works. You have to pay for their overhead.

>zeroclue

No thanks

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>>3326478
Cryptos are only theft of the fire and nothing more.

Pyrite to spark the gunpowder.

>>3326436
why are you projecting bullshit? nobody said anything about millennial's only accepting 1000% gains in a week or some other horseshit.

my statement is purely a objective observation. gold does not perform as well as stocks and is a terrible investment. you would have to be a complete idiot to put money into physical gold instead of the companies that mine it or in an index fund. the last 90 years have proven that.

>>3326503
So the more expensive ones, you're just paying for the design?

>>3326524
>why are you projecting bullshit? nobody said anything about millennial's only accepting 100000% gains in a day or some other horseshit.

There I fixed it for you.

>>3326524
>durrrr just invest at gold at its peak the wait and do nothing
Gold is something you buy when money/stocks are about to become less valuable.

>>3326536
Yes. Or the "rareness". If you are looking to hedge gains then just go with a combination of the lowest over spot and most popular.

One company that I like the most for generics is Sunshine Mint. They are responsible for making the US mints blanks and have a security feature built in. Plus their price is right.

>>3326184
>>3326217
Kek

>>3326550
>he's catching on

I guess when even the Fed chair says equities are in a bubble it's not enough for some people.

>>3326361
Why did you choose 1930? For an accurate understanding you need to look back much further than that. Think of ancient China, Roman Empire etc.

>>3326707
Going back 5000 years was probably too much for his millennial brain to handle.

>>3326707
Because 1930's are the closest available data we have. It's also part of the modern era which is the most relevant to us.

>>3326436

you the same faggot who started the other thread, trying to spread this millenial mirror crypto meme? Most of the people who have been in BTC since the beginning, and the programmers, are 30-40+ years old. You're a fucking retard faggot

The dollar has long been used as the standard for pricing oil and this contract has the dual effect of backing the yuan by both oil and gold. You can ignore this because it's from zerohedge if you want, but it's not an insignificant development.

>>3326910
>triggered

>>3326789
Why would you pick a depression instead of the 50s?

Compare it to the 50s actually when an oz of gold was like 32$

>>3326968
>>http://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

Here pick your poison, at no point has gold been a better investment then a broad index fund.

Physical gold is a bad investment. Don't do it unless you are absolutely convinced that society will fall apart. Which hasn't happened to the western world in a long time.

>>3326184
how does that feel to be constantly wrong, peter schiff?

>>3326789
That would be like judging BTC only on the past 30 minutes rather than its 9 year history.

>>3327016
But someone on biz told me a bag of groceries will be 100000dollars next year due to hyperinflation because we are turning into zimbabwe

>>3327031
The only reliable inflation adjusted methodology we have only goes back a few decades. i can only work with what data is objectively true and relevant to the modern era.

I can't predict the future mate, it could all change or not. But objectively speaking. If you held gold in the last 50 years you would have gotten a far better return on investment with stocks then with gold. That is a matter of fact not up for dispute.

>>3326436
>millenial
63 years old crypto investor here, thank you for making me feel young again.

>>3327121
Societal return = terrible

Keep measuring your gainz in fiat.

It suits you.

>>3327121
Thats just not true

>>3327121
Up to you but people should understand that gold is literally as old as our galaxy, it is created during the supernova phase of stars. Judging it's performance over the past 50 years when it is older than mankind is a little short-sighted. It will always be the ultimate store of wealth in the same way that water will always be the ultimate form of hydration.

>>3327243
We'll if you have gold I can actually measure how much money you've forgone simply by holding it.

>>3327237

What's not true?

>>3327235
Worked out for me so far, in the last 20 years if I held gold instead of stocks I'd be pretty pissed at myself.

>>3327243
They can't handle the shear size of gold let alone the fact that it is inside all their electronic widgets used to trade air coinz.

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>>3327016
What if im not greedy and have enough gold to live the rest of my life?

Fuck your investing kid, its time to shitcoin

Gold is how you turn money into wealth

Until you turn it into gold, its just a tradable investment in a bank backed thing

>>3327320
>shitcoin = greedy

Stop contradicting yourself.

It looks bad on you.

>>3326789
>thinks the world is 87 years old

wanna know how I know you're an american?

>>3327442

Well, I'm not American and I never implied the world is 87 years old. If you would read the whole statement instead of focusing on one point you'd understand that I used that reference for two reasons. One being it is a time frame in which we have objective measurable data and two, it is in the modern era.

Now I don't see why attacking me is going to change the fact that gold has under performed stocks in the last century.

>>3327442
Wanna know I know you're not an American?

>>3327617
only joshin with ya m8

While we Americans are busy sipping our lattes and arguing over pussy hats and mexicans, the Chinese plan of world domination moves forward. Americans are fucking stupid.

>>3327181
>63 years old crypto investor
My nigga

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IT'S HAPPENING

>>3326120
I've been tracking ZeroHedge's apocalyptic predictions for 8 years and so far they've been wrong 100% of the time.

>>3326154
read the article dumb-ass... they making the RMB an oil backed money. that can be converted into gold.... so fuck all Keynesian economists and crypto fags

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>>3326536

Not just design but also the government minted factor. Gov minted coins and bars are considered more official and are more easily trusted to be real.

But private mints will suffice. Like your other reply said, Sunshine Mint is good, and I like Republic Metals Corporation as well.

I only buy Gov coins when they are on sale. U.S Silver Eagles almost always have expensive premiums, so I only have a few of them. I have a lot of British Britannias, Australian Kangaroos, Armenian Noah's Ark, and Canadian Maples that I got for anywhere from $1.49 to $1.99 each over spot. They're about 40% of what I have. The rest is Sunsine, Republic Metals, and A-Mark generic silver, as well as some old "junk" silver, i.e old U.S silver quarters and dimes that I got on sale. Got some 40% silver Kennedy Half-Dollars for only 50 cents over spot, kinda regret it since they're considered the red headed step child of junk silver but whatever.

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>>3326361
When you consider is worth far less than 25 % of what it was in 1930, it means gold is actually losing real value.

>>3327181
too late for the dotcom bubble, too early to invest in asteroid mining, just in time for crypto

>>3326436

Been saying this for a year. They have a day-trading mentality for everything. Metals are a buy and hold insurance against a precarious market, and we could end up seeing a new gold standard or commodities basket backed dollar.

Either way, there's no reason not to have some silver at least.

>>3327343
>looks bad on you

Only time I ever heard someone say this is when I sent a dick pick to a Turkish girl.

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>>3326120
>>3326436

Dumb boomer who probably collects these gold rocks. How many rare quarters do you have in your computer drawer grandpa?

>>3326518

wut

>>3329110
When did /biz/ become full of 'sound money' cranks? Didn't those all die off when Ron Paul performed even worse in 2012 than he did in 2008?

>>3329207

looks like Sedona after a rain. Crisp, fresh. Low the vortex