Bitcoin

[MountainTracker]

Idk if it has been talked about for those supporting gold are you supporting paper gold or physical. I imagine it’s the second just want to see what the opinion is.

I saw a report saying there is any where from 200-250 paper to 1. I’m assuming the 1 is = to 1 oz. That seems like a big issue to me. Pretty high inflation.

Has anyone looked at what the process is to get paper gold turned into physical gold? It doesn’t look like a straight forward transaction. If holding paper I wouldnt expect to ever see any of it in real life.

Interesting read below

6 Attributes Successful Currencies Must Have

Redirecting

 

[*zap*]

You can have real gold held in a gold ira or gold roth ira. You purchase your gold and it is sent to an approved depository. You can get it out and they will send it to your door but penalties may apply depending on the situation. They will put it out once a year so you can see it.

 

[MountainTracker]

So my next question is why not hold it yourself. Could they limit withdrawals, like a bank? Is the depository willing to put itself out of business sending out all its holdings?

When you say put out once a year, do you mean they take a pic of the vault and post it haha

Sorry if these seem like dumb questions but I believe if you don’t have direct control over it you really don’t own it.

But if one is to self custody precious metals they then lose the ability to be able to trade it easily.

And just for those watching

Bitcoin Halving Countdown | CoinGecko

Bitcoin halving reduces bitcoin mining reward by half its previous value, this creates scarcity and prolongs distribution.

www.coingecko.com

 

[*zap*]

If you have a few million in ira's you probably do not want to keep that amount of gold under your bed. Plus deposits into a normal ira are non taxable. If you want to take that $ and buy gold to keep under your bed your going to have to pay state & federal income tax on it.
That said I see no issue keeping a dozen ounces around or so and maybe a few hundred ounces of silver. For a real emergency it would probably be as good or maybe better than cash depending on the type of emergency. I keep metals, cash, food, water, and ammo/firearms handy.
And once a year they put YOUR precious metal holdings out for you to see them, they keep it all separate. Gold ira's are pretty interesting....roth gold ira's you can demand any part of your gold/silver be delivered at any time without any penalty because you had to pay income tax on the money you used to buy it. They send it to you in the mail. I guess if you had 50 million they might deliver it in a different manner....
It is interesting to note that the last quarter of 2023 and the first quarter of this year Costco sold 200 million in gold bars to customers online...and probably close to that or more of silver rounds...

 

[elkbigfoot]

Have 50ish in btc and not selling until I need the funds

 

[CorbLand]

Question for you crypto dudes. Is it worth staking your crypto? I dont plan to sell mine until it can pay off my house, which is a long long way off.

 

[The10%]

Question for you crypto dudes. Is it worth staking your crypto? I dont plan to sell mine until it can pay off my house, which is a long long way off.

Definitely. I wouldn't stake outside the US, or on anything shady. But on Binance or Coinbase sure. One thing to remember is some stuff takes like a month to get un-staked if you want to sell

 

[Brock A]

Question for you crypto dudes. Is it worth staking your crypto? I dont plan to sell mine until it can pay off my house, which is a long long way off.

For sure, I staked my SOL on Coinbase for the last 2 years.

 

[Historybuff]

I don't know about staking. Bitcoin only in cold storage is the best option. 30 hours to halving

 

[CorbLand]

Definitely. I wouldn't stake outside the US, or on anything shady. But on Binance or Coinbase sure. One thing to remember is some stuff takes like a month to get un-staked if you want to sell

For sure, I staked my SOL on Coinbase for the last 2 years.

Thank you much. I use Coinbasse so I will stake my SOL and ETH.

 

[Brock A]

Thank you much. I use Coinbasse so I will stake my SOL and ETH.

I unstaked it recently in anticipation for selling some in this bull run. I think it took about 4 days or so for it to be available.

 

[CorbLand]

I unstaked it recently in anticipation for selling some in this bull run. I think it took about 4 days or so for it to be available.

My theory with Crypto has always been buy a little every month and when it is enough to pay my mortgage off, I will sell it all and pay it off. I have ~1200 worth of Crypto and owe 360,000.00 on my mortgage. Its going to be a while. Hahaha.

 

[Brock A]

My theory with Crypto has always been buy a little every month and when it is enough to pay my mortgage off, I will sell it all and pay it off. I have ~1200 worth of Crypto and owe 360,000.00 on my mortgage. Its going to be a while. Hahaha.

Setting goals in crypto is the best thing to do IMO otherwise you find yourself chasing the FOMO and buying green and selling red. Your goal could happen sooner than you think.

 

[2531usmc]

I don't know about staking. Bitcoin only in cold storage is the best option. 30 hours to halving

What does it mean to “stake” and what is “cold storage”? Is that a means to protect your bitcoin from hackers?

 

[pacoalcracker]

I spend my spare money buying guns. When the country/world really does go bonkers, the only thing that people will want..and need, will be a gun. crypto and the like will become "virtually" worthless...pun intended. gold will likely still be of some value as was proven in the great depression and has a 5000 year track record. Crypto hasnt proven anything yet.

I'm in Jamie Dimon's and Warren Buffet's camp. PONZI. That house of cards is going to crash at some point. No viable use case and no underlying value. No, it's never going to be viable currency and it's never replacing the dollar standard. Never.

If we have another extended great depression or worse, would you want crypto or some gold coins/bars and a few guns? Right there is your answer to what is a real store of value and what isn't.

 

[IBen]

I spend my spare money buying guns. When the country/world really does go bonkers, the only thing that people will want..and need, will be a gun. crypto and the like will become "virtually" worthless...pun intended. gold will likely still be of some value as was proven in the great depression and has a 5000 year track record. Crypto hasnt proven anything yet.

I'm in Jamie Dimon's and Warren Buffet's camp. PONZI. That house of cards is going to crash at some point. No viable use case and no underlying value. No, it's never going to be viable currency and it's never replacing the dollar standard. Never.

If we have another extended great depression or worse, would you want crypto or some gold coins/bars and a few guns? Right there is your answer to what is a real store of value and what isn't.

You know you can own cash, gold, btc, guns all at once? You dont have to pick one or the other.

Also your imaginary shtf business of selling guns to people who could potentially use them against you seems like a grand idea.