You're being naive and insulting for no reason. Precious Metals are indeed real money, always have been- but they have a couple serious drawbacks that can't be inherently fixed: Not easily divisible, and not easily transportable(which is a HUGE PROBLEM for modern world where we want to send money across the globe in seconds, not weeks)
Crypto has the ability to side step these issues. Just like fiat paper money was once paired with precious metals (you could turn your paper dollar in for silver at the bank) The day is coming soon when crypto is paired with metals. xrp_moon_shot is giving good advice, these cryptos are compliant with world wide governments and banks to be used as money and are a great investment right now. Own both, precious metals and XRP/XLM/XDC.
In 1980 the price of an oz of silver was about $49 , today it sits at around $25.
In 1980 $1 is worth about $4 equivalent now.
In 1980 if you spent all your money on silver - it wouldn’t have “frozen” your money in time , you would have suffered twice as much from inflation.
The reason is because as you astutely put it - you need to trade that silver back into the $ to buy the bread.
You not only get HALF the $ you paid for the silver. The $ itself has ALSO lost its buying power.
In that bread scenario here is how that plays out.
In 1980 a loaf of bread was $1. You bought silver at $50 for an oz.
Now, you sell that oz of silver today and get $25.
Bread costs $4. You can buy 6 loaves. In 1980 you could have had 50. OR if you just kept the $50 in 1980 and bought nothing, you could still buy 12.5 loaves today.
Better off freezing the fucking bread than “freezing your money with PM”
PMs are a hedge against inflation typically , sure , but the opportunity cost of -not- considering other asset classes with proven yields is huge.
why are you so angry? I was buying hundreds of Oz's of silver at 14$, so I made quite a bit of money as it has since doubled in price. Also we are agreeing with you that precious metals are good investment so you're not actually teaching us anything, its YOU who refuse to learn about crypto.
Stop acting like a smug big brain when you're clearly 5 miles behind us on this subject. You honestly belong on reddit with that attitude
You're being naive and insulting for no reason. Precious Metals are indeed real money, always have been- but they have a couple serious drawbacks that can't be inherently fixed: Not easily divisible, and not easily transportable(which is a HUGE PROBLEM for modern world where we want to send money across the globe in seconds, not weeks)
Crypto has the ability to side step these issues. Just like fiat paper money was once paired with precious metals (you could turn your paper dollar in for silver at the bank) The day is coming soon when crypto is paired with metals. xrp_moon_shot is giving good advice, these cryptos are compliant with world wide governments and banks to be used as money and are a great investment right now. Own both, precious metals and XRP/XLM/XDC.
Just wait for the Hinman deposition on the 27th XRP. Only so long the SEC can drag this bullshit out.
Hey Endgame, how much money have you made from precious metals ? Be honest here.
In 1980 the price of an oz of silver was about $49 , today it sits at around $25.
In 1980 $1 is worth about $4 equivalent now.
In 1980 if you spent all your money on silver - it wouldn’t have “frozen” your money in time , you would have suffered twice as much from inflation.
The reason is because as you astutely put it - you need to trade that silver back into the $ to buy the bread.
You not only get HALF the $ you paid for the silver. The $ itself has ALSO lost its buying power.
In that bread scenario here is how that plays out.
In 1980 a loaf of bread was $1. You bought silver at $50 for an oz.
Now, you sell that oz of silver today and get $25. Bread costs $4. You can buy 6 loaves. In 1980 you could have had 50. OR if you just kept the $50 in 1980 and bought nothing, you could still buy 12.5 loaves today. Better off freezing the fucking bread than “freezing your money with PM”
PMs are a hedge against inflation typically , sure , but the opportunity cost of -not- considering other asset classes with proven yields is huge.
You are an absolute Mong.
why are you so angry? I was buying hundreds of Oz's of silver at 14$, so I made quite a bit of money as it has since doubled in price. Also we are agreeing with you that precious metals are good investment so you're not actually teaching us anything, its YOU who refuse to learn about crypto.
Stop acting like a smug big brain when you're clearly 5 miles behind us on this subject. You honestly belong on reddit with that attitude
You know what shills here have in common?
They’re all viciously pro-Crypto, and try to destroy you the minute you speak out against it.