Would you rather own gold or....

[Arklatex]

GOLD

 

[Henry Rogue]

Gold I can hold.

 

[oyarde]

I'd take potash over gold or bit coin.

I have plenty , I usually just use it and have never sold any , but for you & Danke I will make an exception

 

[eduardo89]

I have plenty , I usually just use it and have never sold any , but for you & Danke I will make an exception

Same deal as the onions? Free as long as Danke pays shipping?

 

[oyarde]

Gold or lumber for me...

Since I am all thumbs and not skilled with wood, I use good trees for heat and in the smoker If you were here , I could take you down the way to one of my Brother in Laws place to see his shop , that is where I go to get things cut before I put them together.Even trade , I take him a few beers and will never tell my wife's sister he drank them , lol.

 

[oyarde]

Same deal as the onions? Free as long as Danke pays shipping?

Running low on onions, but what I have left are the most exquisite in the land, so there would have to be a small price attached .... yes, some of the worlds greatest potash could be available for shipping charges... do not be fooled by lower grade ,imitation from places such as Germany , Canada, Denver, New Mexico ,Utah , Michigan etc , mine is far superior.... sales have been fantastic this year, I may need more land, or just till up Dankes yard next spring for more planting.... once harvest is over, maybe we could shoot some doves for bbq over Dankes house

 

[hazek]

It's not an either or question, I for instance own both.

 

[ronpaulfollower999]

I own both, and think both were/are at extremely low prices. The lowest I can see Bitcoin dropping in 5 years is $50, unless something better comes along. Gold was insanely cheap back in June, but prices still aren't bad now.

 

[Arklatex]

Look how pompous this fellow is about Bitcoin:

http://www.plata.com.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=218

He evidently doesn't own any bitcoin

 

[austrian_theorist]

I'd definitely prefer the yellow metal. Although I highly endorse the concept of alternative currencies and the freedom to use anything other than the fiat hegemony, bitcoin is just a digital currency not backed by anything. Meanwhile, gold is a 5,000-year-old currency and I know that if gold were to be buried under the sea for 1,000 years and if I were to discover it I know it would be worth something.

 

[IDefendThePlatform]

I'd definitely prefer the yellow metal. Although I highly endorse the concept of alternative currencies and the freedom to use anything other than the fiat hegemony, bitcoin is just a digital currency not backed by anything. Meanwhile, gold is a 5,000-year-old currency and I know that if gold were to be buried under the sea for 1,000 years and if I were to discover it I know it would be worth something.

Agreed that gold is much more time tested. The reason I prefer bitcoin right now is the very large potential upside, IMO. My own current "best guesses":

Odds of gold value going to zero in the next 5 years: ~0%
Odds of bitcoin value going to zero in the next 5 years: ~10%

Odds of gold value quadrupling in the next 5 years: 5%
Odds of bitcoin value quadrupling in the next 5 years: 50%


Yes, gold is safer, especially for an emergency money stash. But IMO bitcoin's huge upside potential as an investment outweighs the safety factor right now, at least from an investing perspective.

 

[Jackie Moon]

It's not an either or question, I for instance own both.

Agreed that gold is much more time tested. The reason I prefer bitcoin right now is the very large potential upside, IMO. My own current "best guesses":

Odds of gold value going to zero in the next 5 years: ~0%
Odds of bitcoin value going to zero in the next 5 years: ~10%

Odds of gold value quadrupling in the next 5 years: 5%
Odds of bitcoin value quadrupling in the next 5 years: 50%


Yes, gold is safer, especially for an emergency money stash. But IMO bitcoin's huge upside potential as an investment outweighs the safety factor right now, at least from an investing perspective.

I agree. I don't think it has to be an either/or. Gold, silver and bitcoin are all good to have.

I'd say that it also depends on what you want it for.

If you want a low risk, time proven hedge against inflation you can buy more gold. If you want something that can be easily traded in an economic collapse you can buy silver coins. And if you want something that has a greater potential return within the next few years you can buy bitcoin.

Personally I think that bitcoin will continue to grow and wouldn't be surprised if they're worth 2 or 3 times the current value sometime in the next few years. There are so many new innovative things coming out and a lot of money coming in now from investors to build up the infrastructure.

And even if you don't count the potential return there are other reasons that having bitcoin now can be useful. You can spend them without giving your personal banking info, you can transfer money instantly around the world for pennies, you can use them to protect money from being confiscated, and you can use it to send money to places the government and banks say you aren't allowed to.

Use it to donate money to WikiLeaks, or send to your friend in Iran, or to gamble online. The DOJ still has thousands of dollars of mine that were confiscated when they shut down online poker sites two years ago. Today, I can play poker online again because of bitcoin and I don't have to ask the government for permission or worry about them confiscating my money or closing my bank account.

Look how pompous this fellow is about Bitcoin:

http://www.plata.com.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=218

He evidently doesn't own any bitcoin

Ugh, that was a rough read. I almost quit after the 100th time he called it "the bitcoin".

And he shows that he doesn't understand how bitcoin works when he says things like:

The Bitcoin, we are told, will be created by a large number of electronic “miners”, as they quaintly call them, who will have to solve difficult problems to obtain – for free – their small individual rations of bitcoins. Now suppose the Bitcoin achieves great success. How long do you think all these “miners” will be willing to stick to solving difficult problems? Since they are so bright, would you put it past one or more of them, to find very easy solutions and “mine” ever larger quantities of Bitcoins for themselves? Humans have a poor record of resisting temptation.

 

[heavenlyboy34]

Running low on onions, but what I have left are the most exquisite in the land, so there would have to be a small price attached .... yes, some of the worlds greatest potash could be available for shipping charges... do not be fooled by lower grade ,imitation from places such as Germany , Canada, Denver, New Mexico ,Utah , Michigan etc , mine is far superior.... sales have been fantastic this year, I may need more land, or just till up Dankes yard next spring for more planting.... once harvest is over, maybe we could shoot some doves for bbq over Dankes house

Uncle Oyarde, you still haven't delivered those pears you promised...I advise everyone to take my dear uncle's promises WRT foodstuffs lightly.

 

[Madison320]

Look how pompous this fellow is about Bitcoin:

http://www.plata.com.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=218

He evidently doesn't own any bitcoin

Neither do I and I think that is an excellent article.

Especially this paragraph. I think this is extremely important:

"Even within national boundaries, fiat currencies do not effect payment, or “settlement”. What we are doing today, is simply shuffling these currencies around in exchanges of goods and services; but there always remains a latent doubt felt by all who have accumulated a substantial amount of any one of these currencies: “What should I do with my accumulation of fiat?” This question becomes a gnawing worry, the more cash you have. It is a worry that will not go away, because fiat money does not effect payment. When in other days people were paid in gold or silver they had nothing more to worry about. They owned gold or silver and that was that. No longer is that the case, because there is no payment going on. We are simply shuffling fiat money around."

What he's saying is that if you pay for something with gold, the transaction is over. Both parties have received something of real value. But if I buy a TV from some guy for $200 he's HOPING he can get something for value later with that $200. I think this is an overlooked fact, especially when it comes to trade deficits.

Just because BitCoin was created privately doesn't mean it's a good idea.