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Will burst. But probably not for a year or two. The current hyped up everything + large scale money printing by the EU + US makes me want to put actual gold bar
by tluyben2 5y ago
Will burst. But probably not for a year or two. The current hyped up everything + large scale money printing by the EU + US makes me want to put actual gold bars under my bed.
- qwerty456127 5y agoI believe many people would rather buy gold bars if this wasn't regulated heavily. Today gold bars are not much different from paper money - they must have a label of a licensed foundry, can only be traded by licensed merchants and the price at which an individual can sell a random piece of gold usually is well below the market AFAIK. Cryptocurrencies are way more convenient but are themselves a bubble (which I find less likely to burst than the shares though).
- tluyben2 5y agoIf the system would collapse like in the great depression, gold still works.
- tluyben2 5y agoAlso, in case of an economic depression, cryptocurrencies will crater. It has not tested really yet, but I would bet on them sinking to near $0 in that case. Time will tell, but I'll be in gold anyway when the bank run comes to exchange cryptos to something to buy actual bread.
- qwerty456127 5y agoI believe there is a chance that cryptocurrencies will crater but I would not be so sure they will. Cryptocurrencies have liquidity/value backed by black and gray markets (not entirely, but in a big proportion) which will always be there (and probably even boom) when the white markets crash. Cryptocurrencies also can't be emitted in unlimited volumes at just the feds' will so are immune to inflation which tends to skyrocket for fiat currencies in events of huge crises. It may even happen that in such an event some states will address booming inflation by officially making cryptocurrencies legal tenders.