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Well of of course, the world is a mess. Your video pointed towards, gold is the better choice, as an investment.
You are right, what I said is my interpretation of what I heard. The video didn’t change my view on anything, as I already had plans for transferring my checking account, months ago and a trip planned to do it this weekend, and I have invested in gold. I am definitely not buying anytime soon. I have friends that have made money buying the right one and lost it all doing it again.
Crypto seems like some kind of pyramid scheme to me. The only way a person makes money is if somebody has become convinced that the crypto that can be purchased has some kind of value, and that that value will likely increase if they can find somebody else who also believes it has value, and will also increase in value, etc. etc. etc.
I'll probably get push back on this, but here goes...
It seems contrary to the "wisdom of the ages" I once heard in a story format. -- An ancient king gathered his wisest men and asked them to search through and compile all the wisdom that had ever been accumulated. After several years, these wise men compiled that ancient wisdom, and recorded it into seven separate volumes. The king was pleased, but thought it was too long. Could they condense it down to one volume?
The wise men weren't sure how they could do that, but after much effort, they did manage it. The king was very pleased, but still felt it was too long. Could they whittle it down to one chapter? Subsequently, the king asked if they could whittle it down to a single paragraph. Then into a single sentence. Even the single sentence was too long for the king, and he asked if they could whittle down all the wisdom of the ages into just five words. They finally got back to the king, and presented their five-word synopsis of all the wisdom of the ages: "There ain't no free lunch!" The king was very satisified.
And so it goes. So many of the world's problems exist because people don't understand a basic spiritual premise, the one that says everything must be paid for in the true coin. Crypto just doesn't fill that bill--for me. It may for others, but not for me. It seems people are always looking for shortcuts to get "their share" of wealth without necessarily having to work for it. Looking for a way of "getting something for nothing".
I've heard of many people who did get very, very wealthy timing the crypto markets just right. But I've heard of many others (often minorities who don't have good access to our banking system) who've lost a LOT of their money, leaving some of them destitute from investing (gambling) on a "sure thing". To me, it just seems the crypto markets are like a gigantic casino. (Not to say our current conventional banking system doesn't have its own faults).
This is great @Layne!! I think crypto money is valuable today, and maybe it is like a house of cards pyramid scheme of sorts. There is nothing backing it except everyone agreeing it is valuable, I mow your lawn you give me a note saying I owe you and you can pass it on to someone else who agrees that they will sign up for that way of trading. Maybe it will keep going that way, and so on, and so and so on, or the powers that be says, “Nah let’s start over.” My point isn’t that crypto doesn’t have value right now, but like the video said, it is a compromise, for now, until they figure out if everyone is going to sign up and agrees that it should be the new way. Well until then I am just going to sit on the sidelines and be a spectator on that one, until it is a for sure. I don’t have money to gamble.I'll probably get push back on this, but here goes...
It seems contrary to the "wisdom of the ages" I once heard in a story format. -- An ancient king gathered his wisest men and asked them to search through and compile all the wisdom that had ever been accumulated. After several years, these wise men compiled that ancient wisdom, and recorded it into seven separate volumes. The king was pleased, but thought it was too long. Could they condense it down to one volume?
The wise men weren't sure how they could do that, but after much effort, they did manage it. The king was very pleased, but still felt it was too long. Could they whittle it down to one chapter? Subsequently, the king asked if they could whittle it down to a single paragraph. Then into a single sentence. Even the single sentence was too long for the king, and he asked if they could whittle down all the wisdom of the ages into just five words. They finally got back to the king, and presented their five-word synopsis of all the wisdom of the ages: "There ain't no free lunch!" The king was very satisified.
And so it goes. So many of the world's problems exist because people don't understand a basic spiritual premise, the one that says everything must be paid for in the true coin. Crypto just doesn't fill that bill--for me. It may for others, but not for me. It seems people are always looking for shortcuts to get "their share" of wealth without necessarily having to work for it. Looking for a way of "getting something for nothing".
I've heard of many people who did get very, very wealthy timing the crypto markets just right. But I've heard of many others (often minorities who don't have good access to our banking system) who've lost a LOT of their money, leaving some of them destitute from investing (gambling) on a "sure thing". To me, it just seems the crypto markets are like a gigantic casino. (Not to say our current conventional banking system doesn't have its own faults).
Gold is of value because it in limited quantity, you can’t created it, like paper dollars or invisible floating money. With that being said, and kind of to your point, if you are a Bible believer gold will be eventually be worthless, not even able to buy you a loaf of bread. You’ll have to sell your soul for it. We can only be so prepared.
Exactly my thoughts. The wise thing would be to stay away from digital in the next year or two. Maybe 1-2% for fun if one has enough spare time to follow the story and enjoy until lights out. Metals are in fact really cheap, they've made such a massive distortion from reality, a pretty big mess they need to fix through a reset. Its long overdue. No need for gambles in other vehicles.
There we go! This! All that you just said here sounds about right!
Glad your hunch tells you it might be close to target. I take that as a strong confirmation. Works better than any other indicator.
I don’t think I have the future predicted, but jumping in on a compromise or experiment is never going to be a risk I will be comfortable taking. I am glad you started this thread, because I have thought about these things a lot and came to an unsure conclusion, and then got complacent, switched gears, and put efforts to growing food instead, until I could be sure of something. I am feeling the need to get that money market account going, as I felt 6 months ago, but just hadn’t done it, and video was a good reminder to quit putting it off.
Risking too much on what is now still "concepts" with some 3 letter abbreviation is not a risk I am ready to take either until I see the reset play out. I too understand they are the future and governments will push them on us and getting early will make serious money but many people in the markets suffer a serious condition I call "the fear of missing out" and this makes them put their money in the wrong place or the wrong time or both because they have the dreams of becoming super rich with a click of a button. But there is always a catch, especially so late in the game. Also the game changes completely when there is a family involved that needs to get taken care of.
I think you're pretty much right. When Bitcoin was first created years ago, the creator(s) intended it to just be a decentralised alternative to other monetary means, and not really anything more than that.
This was true 10 years ago, but that was only because no one really understood what crypto even was at the time (and still do to an extent). That game has since been played, and the novelty wave has since passed. It would take something else to recreate such massive perceived value.
Investing and risking do not have the same meaning. Investing is a slow build up and risking is the same as gambling. You can take that same $100 or $500 dollars, one can afford to risk, and double and quadruple it, and even 7 and 8 times over, and quicker, at the casino or horse races, and I have done it, many times, and more than 8 times over. At least with the stock market you can know about the company and it’s history. A diversified portfolio is right, but how is crypto not more like a pyramid scheme, when there is nothing solid backing it, no company, no gold, no nothing, nothing but the people who are pushing it saying it has value? Maybe eventually it will have value, but I can’t see that until they erase everything and start over, and it then represents something with value.
