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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Enkidu]
#27250786 - 03/13/21 06:02 AM (2 years, 10 months ago) |
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When I went to bed my little portfolio was at -6%  Now, with the sun on my side of the planet, it rose to +1%
So, my ridiculous amount of transactions yesterday (dozens) drove the portfolio in the red, but in little more than half a day it increased by 7% 
7%. You dont even get that in a year on a savings account if you blow the bank manager, but crypto does it in less than 14 hours, so 0.5% increase per half hour
Every Asset is in the Green right now!
-------------------- Omnicyclion.org higher knowledge starts here
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Enkidu
"No-Such-Person"


Registered: 07/09/16
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Asante]
#27250802 - 03/13/21 06:20 AM (2 years, 10 months ago) |
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Sometimes takes it away just as quick, but j agree Asante
Have 1/2 or more of my money in stocks and the other in crypto
Would have been more valuable in crypto atm
-------------------- Within You , Without You
      
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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Enkidu]
#27250806 - 03/13/21 06:30 AM (2 years, 10 months ago) |
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Quote:
Enkidu said: Sometimes takes it away just as quick, but j agree Asante
Have 1/2 or more of my money in stocks and the other in crypto
Would have been more valuable in crypto atm
Cryptos are super volatile and stocks can be wobbly too. You might want to consider taking 10-20% of your gains out of the game and solidify it into gold.
What money, stocks and crypto have in common is that when they lose value suddenly, the price of gold will soar. So, things like gold and real estate will hedge against that day that WILL come that suddenly most assets become next to worthless.
-------------------- Omnicyclion.org higher knowledge starts here
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Nature Boy
Stranger than most



Registered: 07/09/07
Posts: 8,241
Loc: Samsara
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Asante]
#27250817 - 03/13/21 06:48 AM (2 years, 10 months ago) |
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How does one buy gold??????? I'd be happy to take a bit more profit and reduce my exposure of ETH...but it would be nonsensical to roll it into BTC. Gold sounds like abetter alternative.
-------------------- All submitted posts under this user name are works of pure fiction or outright lies. Any information, statement, or assertion contained therein should be considered pure unadulterated bullshit. Note well: Sorry, but I do not answer PM's unless you are a long-time trusted friend. If you have a question, ask it in the appropriate thread.
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bodhisatta 
Smurf real estate agent


Registered: 04/30/13
Posts: 61,889
Loc: Milky way
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Nature Boy]
#27250822 - 03/13/21 06:51 AM (2 years, 10 months ago) |
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You buy gold with cash or credit at a dealer.
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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: bodhisatta]
#27250836 - 03/13/21 07:02 AM (2 years, 10 months ago) |
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If Samsara is located in the USA then apmex.com is a fair bet.
I saw several european bullion dealers who will directly convert bitcoins into gold.
Elegant.
Oh!
I couldnt help but tinker a bit with my bitcoin to afford introduyction of 2 further altcoins, making it BTC + 10 altcoins like so:
-------------------- Omnicyclion.org higher knowledge starts here
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Nature Boy]
#27250844 - 03/13/21 07:08 AM (2 years, 10 months ago) |
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I have bought the bulk of my physical metals from https://apmex.com
Frankly, while I think it's generally a good idea for well capitalized individuals to have some exposure to metals, I am in no rush to allocate additional funds to that sector. The storage and safety requirements are onerous, and the on/off ramps are slow or with wider spreads than I would prefer. Silver in particular, although pretty, is just a pain in the butt to deal with in any quantity. Palladium has been my best metals holding, up just over 3X.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
#27250847 - 03/13/21 07:13 AM (2 years, 10 months ago) |
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Quote:
geokills said: Silver in particular, although pretty, is just a pain in the butt to deal with in any quantity.
I concur, and also that market is so incredibly manipulated that the price of silver and the value of silver have lost correlation. Also, unlike the other precious metals, Silver is not truly precious in that it can tarnish severely under certain conditions, altering the value of what you have often considerably. By contrast, gold, palladium and platinum do not.
Palladium shot up like a rocket, the little platinum group metal that could
-------------------- Omnicyclion.org higher knowledge starts here
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Nature Boy
Stranger than most



Registered: 07/09/07
Posts: 8,241
Loc: Samsara
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
#27250859 - 03/13/21 07:27 AM (2 years, 10 months ago) |
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Quote:
geokills said: I have bought the bulk of my physical metals from https://apmex.com
OK...thanks for that. I believe I can open an account with them. I looked at the charts for gold, silver platinum and palladium. The one that seems to consistently trend upwards of late is platinum. I like upward trends and momentum.
Stupid final question: Geo wrote: "The storage and safety requirements are onerous". Ummm...there's no need to take PHYSICAL POSSESSION of the metal, is there? I mean...I have a safe concreted into my basement in the walled off portion where my oil burner is, but I can't see them shipping gold or platinum to my physical address!
-------------------- All submitted posts under this user name are works of pure fiction or outright lies. Any information, statement, or assertion contained therein should be considered pure unadulterated bullshit. Note well: Sorry, but I do not answer PM's unless you are a long-time trusted friend. If you have a question, ask it in the appropriate thread.
Edited by Nature Boy (03/13/21 07:41 AM)
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bodhisatta 
Smurf real estate agent


Registered: 04/30/13
Posts: 61,889
Loc: Milky way
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Nature Boy]
#27250860 - 03/13/21 07:30 AM (2 years, 10 months ago) |
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There's a coin dealer and a few jewelry stores around here that sell precious metal but I wonder how fucked you get on the prices
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Nature Boy
Stranger than most



Registered: 07/09/07
Posts: 8,241
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: bodhisatta]
#27250878 - 03/13/21 07:40 AM (2 years, 10 months ago) |
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Opened an account. Holy crap...it looks like much of what you can purchase is in coin format. I think they DO expect you to take physical possession. Not thrilled about that!
Purchasing precious metal is not what I thought it was. I thought you could just purchase on an exchange and leave it there as an investment, like a bank account or crypto account. I believe I was mistaken. I'm dumb.
-------------------- All submitted posts under this user name are works of pure fiction or outright lies. Any information, statement, or assertion contained therein should be considered pure unadulterated bullshit. Note well: Sorry, but I do not answer PM's unless you are a long-time trusted friend. If you have a question, ask it in the appropriate thread.
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bodhisatta 
Smurf real estate agent


Registered: 04/30/13
Posts: 61,889
Loc: Milky way
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Nature Boy]
#27250887 - 03/13/21 07:47 AM (2 years, 10 months ago) |
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Without a storage fee no one is holding your metals
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Nature Boy
Stranger than most



Registered: 07/09/07
Posts: 8,241
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: bodhisatta]
#27250899 - 03/13/21 07:57 AM (2 years, 10 months ago) |
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^^^ Gotcha. I'm naive, what can I tell ya. I've always let others manage my money. Never been a hands-on guy until I got into crypto.
-------------------- All submitted posts under this user name are works of pure fiction or outright lies. Any information, statement, or assertion contained therein should be considered pure unadulterated bullshit. Note well: Sorry, but I do not answer PM's unless you are a long-time trusted friend. If you have a question, ask it in the appropriate thread.
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Enkidu
"No-Such-Person"


Registered: 07/09/16
Posts: 10,698
Last seen: 6 months, 10 days
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: bodhisatta]
#27250921 - 03/13/21 08:14 AM (2 years, 10 months ago) |
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Appreciate the advice Asante
Are stocks in companies dealing with gold as good or not ?
-------------------- Within You , Without You
      
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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Enkidu]
#27250950 - 03/13/21 08:42 AM (2 years, 10 months ago) |
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Quote:
Nature Boy said:
Opened an account. Holy crap...it looks like much of what you can purchase is in coin format. I think they DO expect you to take physical possession. Not thrilled about that!
Purchasing precious metal is not what I thought it was. I thought you could just purchase on an exchange and leave it there as an investment, like a bank account or crypto account. I believe I was mistaken. I'm dumb. 
If thats what you want, what you really really want, Which I don't reccomend, really realy dont recommend, you gotta, you gotta, you gotta, https://www.bullionvault.com/
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Quote:
Enkidu said: Appreciate the advice Asante
Are stocks in companies dealing with gold as good or not ?
The moment you take a piece of paper promising gold, you are in the realm of promises made to you.
A gold coin is not a promise. The value you own is contained within the gold coin itself. A gold coin is a $1900 piece of real estate you can slip into your shirt pocket.
A roll of 20 1oz gold coins fits comfortably in your hand and is worth almost $40,000
Quite convenient stuff, gold. Its less cumbersome to handle a gold bar than its value in stacks of benjamins.

Lookie: 400oz gold bar, worth more than 3/4 of a million dollars.
-------------------- Omnicyclion.org higher knowledge starts here
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bodhisatta 
Smurf real estate agent


Registered: 04/30/13
Posts: 61,889
Loc: Milky way
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Asante]
#27250956 - 03/13/21 08:47 AM (2 years, 10 months ago) |
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If they bring back rocks from mars I wonder what their value per oz would be.
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Enkidu
"No-Such-Person"


Registered: 07/09/16
Posts: 10,698
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: bodhisatta]
#27250970 - 03/13/21 08:56 AM (2 years, 10 months ago) |
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Thanks Asante, ill start setting aside some funds for gold
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Enkidu]
#27250977 - 03/13/21 09:04 AM (2 years, 10 months ago) |
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Elon gonna mine asteroids and make gold go to 0
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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Enkidu
"No-Such-Person"


Registered: 07/09/16
Posts: 10,698
Last seen: 6 months, 10 days
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Enkidu]
#27250981 - 03/13/21 09:08 AM (2 years, 10 months ago) |
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So basically i buy a coin of gold, looks like rough estimate i can get a 1/4 oz coin for 500, then if gold prices go up in 10 years i can sell it for the going rate?
Just want to make sure i understand then i wont ask more about it as i dont want to personally draw too much away from the thread
-------------------- Within You , Without You
      
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bodhisatta 
Smurf real estate agent


Registered: 04/30/13
Posts: 61,889
Loc: Milky way
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Enkidu]
#27250988 - 03/13/21 09:12 AM (2 years, 10 months ago) |
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Minus the premium from the ask price and the dealers bid/spot price.
You easily might pay something like $550 for a 1/4 oz but the spot price is 450 for that weight and say the value of gold goes up and a 1/4 oz is actually worth 550 at spot price. If you sell you might only get $500. So the oz price could go up $400 bucks and you might still be down $50 for example. So the price needs to raise enough that you actually make money after losing out to the premiums you pay
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