Economy End of year inflation update

[Eric Silva 2.0]

I have talked about inflation and the importance of protecting yourself with assets like Bitcoin and gold/silver. Most didn't think inflation is a problem since CPI is coming in a little under 3 percent. According to my calculations, inflation for 2024 will come in a little above 10 percent. You can see this reflected in food prices, insurance, education and healthcare among other things.

YTD returns so far......

Gold: ~28%
Silver: ~27%
Bitcoin: ~150%

2023 returns

Gold: 13%
Silver: 0
Bitcoin: 155%

I'm interested in feedback. Do people still believe CPI numbers reflect actual inflation? Do people still not believe in assets like Bitcoin and Gold? Do people still think Eric Silva Silva is mentally challenged?

 

[Rob Battisti]

I’m more interested in the question:

Is there a price Bitcoin can ever reach where the doubters will stop doubting?

 

[Natural Order]

It’s all transitory, bro.

 

[Source]

I’m more interested in the question:

Is there a price Bitcoin can ever reach where the doubters will stop doubting?

That’s probably more based on its minimum price than its maximum.

 

[Eric Silva 2.0]

I’m more interested in the question:

Is there a price Bitcoin can ever reach where the doubters will stop doubting?

I've gone the other way. I think the doubters are right. I'm in the wrong category but I'm making money. It's very expensive to be right these days.

 

[aerius]

I’m more interested in the question:

Is there a price Bitcoin can ever reach where the doubters will stop doubting?

It's claimed that Bitcoin is a store of value when TSHTF. We'll just have to see how well it holds when the USD collapses and all that other fun stuff happens. How high it goes doesn't matter, what does is whether it can both hold its value and remain fungible when everything else crashes.

 

[Rob Battisti]

It's claimed that Bitcoin is a store of value when TSHTF. We'll just have to see how well it holds when the USD collapses and all that other fun stuff happens. How high it goes doesn't matter, what does is whether it can both hold its value and remain fungible when everything else crashes.

It’s verifiable that when major negative news events happen that bitcoin recovers faster.

Your question completely ignores what a store of value is used for, storing value over time. Nothing does that better than bitcoin.

 

[RoastBeast]

I’m more interested in the question:

Is there a price Bitcoin can ever reach where the doubters will stop doubting?

But it's volatile!

 

[aerius]

It’s verifiable that when major negative news events happen that bitcoin recovers faster.

Your question completely ignores what a store of value is used for, storing value over time. Nothing does that better than bitcoin.

Bitcoin didn't even exist the last time the market shit the bed for real.

 

[Rob Battisti]

Bitcoin didn't even exist the last time the market shit the bed for real.

True but everything shit the bed when that happened.

 

[Rational Poster]

It's still a speculative asset and not a true store of value.

A true store of value has multiple use cases that remain valuable even in the event of crisis.

Commodities, real estate, etc.

We still haven't had any bank run type of event, but I would assume the real world value of bitcoin would be near $0 when that happens.

 

[aerius]

True but everything shit the bed when that happened.

And if Bitcoin shits the bed along with everything else then it's just as worthless as fiat money. Neither of us knows what will happen when shit gets real in the market, crypto might be fine, but it could just as easily get zeroed.

 

[CantCucktheTuck]

I’m more interested in the question:

Is there a price Bitcoin can ever reach where the doubters will stop doubting?

what are your thoughts on what this gentleman is saying about bitcoin?

 

[Scerpi]

It's still a speculative asset and not a true store of value.

A true store of value has multiple use cases that remain valuable even in the event of crisis.

Commodities, real estate, etc.

We still haven't had any bank run type of event, but I would assume the real world value of bitcoin would be near $0 when that happens.

Multiple uses? Bro? You can buy steroids with it!!

lol...

And there's a couple thousand crypto currencies, almost all are garbage. Why does Bitcoin hold value when all those others crashed back to zero.

I mean... Even as it's crossing $100K, I still wonder what it's future is. And kicking myself for missing out on it

But at least most of us were right about NFT's being garbage. I argued with my adult kids about that one. They were convinced that they were the real deal.

 

[Rational Poster]

Multiple uses? Bro? You can buy steroids with it!!

lol...

And there's a couple thousand crypto currencies, almost all are garbage. Why does Bitcoin hold value when all those others crashed back to zero.

I mean... Even as it's crossing $100K, I still wonder what it's future is. And kicking myself for missing out on it

But at least most of us were right about NFT's being garbage. I argued with my adult kids about that one. They were convinced that they were the real deal.

I'm not even saying it's bad to buy or own, kudos to anyone who bought in before 2019, enjoy it.

But like, it's not digital gold. You can't access the value without internet and electricity. A true store of value has a practical use even when fiat is tanking. Though I would even doubt the value of gold even in this type of catastrophic economic event.

The real stores of value would be real estate (farm land, water reserves) and more practical commodities and products, like ammo and medication, and the stuff that makes them.

It's just another form of gambling.

 

[Scerpi]

I'm not even saying it's bad to buy or own, kudos to anyone who bought in before 2019, enjoy it.

But like, it's not digital gold. You can't access the value without internet and electricity. A true store of value has a practical use even when fiat is tanking. Though I would even doubt the value of gold even in this type of catastrophic economic event.

The real stores of value would be real estate (farm land, water reserves) and more practical commodities and products, like ammo and medication, and the stuff that makes them.

It's just another form of gambling.

Land... Land is all that matters...

Yes, I've gotten to this point.

 

[Rob Battisti]

And if Bitcoin shits the bed along with everything else then it's just as worthless as fiat money. Neither of us knows what will happen when shit gets real in the market, crypto might be fine, but it could just as easily get zeroed.

Zeroed No. It cannot easily get zeroed.

Keep your money in fiat if you wish to see it melt away.

 

[aerius]

Zeroed No. It cannot easily get zeroed.

Keep your money in fiat if you wish to see it melt away.

Copper, zinc, and lead. Base metals is where it's at.

 

[Rob Battisti]

what are your thoughts on what this gentleman is saying about bitcoin?

Tbh — I’m not concerned about the government taking it away either by ramps or taxation. Once Blackrock got involved, that went off the table.

 

[Rob Battisti]

Copper, zinc, and lead. Base metals is where it's at.

You serious?