Economy End of year inflation update

[Rob Battisti]

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.

Nothing but bullets are valuable if the thing goes down. If that happens, we will have bigger things to worry about. I am not planning for the apocalypse.

 

[aerius]

You serious?

If you don't know whether I'm serious, you probably shouldn't be arguing economics with me.

 

[Rob Battisti]

If you don't know whether I'm serious, you probably shouldn't be arguing economics with me.

Phew.

 

[Deorum]

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

Yes, I've gotten to this point.

The vast majority of my net worth is tied to tangible assets (property and gold bullion), lol. I've got basically no cash savings or stonks with a small handful of satoshis (BTC) and alt-cryptos. But also: no credit card debt or personal loans. I only ever need a few federal reserve notes on hand to buy quality beef, do cool things for my kids, and stock up on ammo, equipment, and tools.

Do people still not believe in assets like Bitcoin and Gold?

Physical Gold has an allure to me that goes beyond financial investment, store of value, or hedge against inflation. It's emotionally satisfying and psychologically stimulating to collect and hold for its own sake and aesthetic purposes. It is the most noble and precious of all metals: never to corrode, rust, nor tarnish, persisting for 5,000 years across every culture, country, and civilization.

 

[GreatSaintGuillotine]

I’m more interested in the question:

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

Personally, I didnt even know bitcoin was a thing until it was well established. If it survives the next time the market crashes, I'm all for it.

 

[Rob Battisti]

The vast majority of my net worth is tied to tangible assets (property and gold bullion), lol. I've got basically no cash savings or stonks with a small handful of satoshis (BTC) and alt-cryptos. But also: no credit card debt or personal loans. I only ever need a few federal reserve notes on hand to buy quality beef, do cool things for my kids, and stock up on ammo, equipment, and tools.



Physical Gold has an allure to me that goes beyond financial investment, store of value, or hedge against inflation. It's emotionally satisfying and psychologically stimulating to collect and hold for its own sake and aesthetic purposes. It is the most noble and precious of all metals: never to corrode, rust, nor tarnish, persisting for 5,000 years across every culture, country, and civilization.

 

[cincymma79]

It’s all transitory, bro.

Jack assvage said so

 

[Deorum]

Personally, I didnt even know bitcoin was a thing until it was well established. If it survives the next time the market crashes, I'm all for it.

It wouldn't hurt to start stacking some Sats.

 

[GreatSaintGuillotine]

It wouldn't hurt to start stacking some Sats.

Im so bad at tracking and understanding stocks and crypto tbh. I feel like I'm just too far behind the game at this point lol

 

[lifelessheap]

You serious?

Try to travel and pay with fucking copper. LMAO. BC is legit.

 

[lifelessheap]

AVGO killing lately tho.

 

[Deorum]

Im so bad at tracking and understanding stocks and crypto tbh. I feel like I'm just too far behind the game at this point lol

You can't win if you don't play, but also avoid getting burned. I cashed out my stonk portfolio a couple of months before COVID and walked away with a good deal more than I put in, but only ever bought companies in the industries I'm familiar with. Equities are the primary vehicle for the fat cats to get richer, and the top 10% own 93% of all stock market value.

Bitcoin is the most dynamic and explosive asset in the world, with the potential to be revolutionary for humanity on the whole. It's decentralized and strictly digital, possessing the characteristics of a currency, commodity, and security simultaneously. I was way too early on it if anything and held 12 coins back when Obama was POTUS, but sold them all when the price leaped into the $15-19k range. Those are worth the equivalent of $1.1 million fucking dollars today (do'h!). But hey, it helped me shave 15 years off the mortgage and my home equity has tripled since then.

 

[djacobox372]

BitCoin is NOT a commodity.

 

[wufabufa]

I'll be inflation-proof when I win the Mega Millions drawing Tuesday night.

 

[Jacket time]

My local Costco gets gold and silver bars a couple times a month, maybe 25/30 of each time.
They are sold before lunch. Costco opens at 10

 

[Deorum]

Argor Heraeus and Asahi Refining gold barz, ftw. I've lost track of the number of times I've heard or read that "gold is a stupid investment" from Bitcoin Bros and Wall Street Scumbags -- but I don't necessarily view it as an investment. The main function of gold bullion is the preservation of purchasing power and wealth, not necessarily the generation of it. And yet, you'll still get solid gains out of it over time on that front. I don't even really give a shit what it's worth, I'd be buying it for the aesthetics and physical properties of the metal alone like human beings who enjoy collecting any other sort of thing. This just happens to be a form of money.

 

[Deorum]

My local Costco gets gold and silver bars a couple times a month, maybe 25/30 of each time.
They are sold before lunch. Costco opens at 10

It's pretty solid, anyhow.