It's legit. It's not a bubble. But it's volatile. And subject to fraud risk if, for example, one of the custodians replaces their gold with painted lead. This isn't really an investment but rather an auditable way to tokenize gold. An asset-backed crypto, if you will, with the asset being gold.
This next month is going to be wild. I think they're going to smash silver down, drain the Comex, and settle in cash. This stops them from losing their ass. After that it's game on. Silvers floor is around $60 and gold I'd put around just above $4500. The market is set up for a crash and will drag everything down with it. FWIW I think tether is setting up tokenized gold.
They're shady. Crypto seems like a cult to me. They do have $24 billion in gold and have ties to Trump. Some type of token for transactional purposes does kind of make sense. I think we're in for crazy times regardless. We're facing a lot of unknowns. The dollar does not look good long term. It's all speculation at this point. All we can do is collect data points and try to position ourselves as best we can.
Agreed. I largely agree with Joe Lange's take, that we'll end up with a government-run but fully transparent asset-backed blockchain coin, probably with gold as the asset. Maybe we'll get a separate silver-backed coin in parallel. The transition will be interesting, hopefully not too chaotic.
It's legit. It's not a bubble. But it's volatile. And subject to fraud risk if, for example, one of the custodians replaces their gold with painted lead. This isn't really an investment but rather an auditable way to tokenize gold. An asset-backed crypto, if you will, with the asset being gold.
This next month is going to be wild. I think they're going to smash silver down, drain the Comex, and settle in cash. This stops them from losing their ass. After that it's game on. Silvers floor is around $60 and gold I'd put around just above $4500. The market is set up for a crash and will drag everything down with it. FWIW I think tether is setting up tokenized gold.
I'm leery of tether. Wasn't tether guilty of selling Bitcoin on margin, and creating undisclosed counterparty risk?
They're shady. Crypto seems like a cult to me. They do have $24 billion in gold and have ties to Trump. Some type of token for transactional purposes does kind of make sense. I think we're in for crazy times regardless. We're facing a lot of unknowns. The dollar does not look good long term. It's all speculation at this point. All we can do is collect data points and try to position ourselves as best we can.
Agreed. I largely agree with Joe Lange's take, that we'll end up with a government-run but fully transparent asset-backed blockchain coin, probably with gold as the asset. Maybe we'll get a separate silver-backed coin in parallel. The transition will be interesting, hopefully not too chaotic.
Hmmm, guess I'll stick with stacking.