Hey, what do people here think about investing in gold? Always kinda thought it was crackpot, but recently have been creeping towards it might be a good diversification. Thoughts?
You can't eat gold, and the people saying it is worth more than fiat are selling it in exchange for fiat, which seems against their claims. When fiat collapses, why would people value gold?
Hmm gold has been money for thousands of years. You may not be able to eat it, but I bet you can trade some for food or whatever else you need. Better than carrying wheelbarrows full of cash.
Gold is a way to keep your wealth, not to make wealth. Unless you speculate on gold short term with leverage and get lucky multiple times.
If you dollar cost average buying gold every month/year you will see the purchasing power being retained but not increase on average over time. Compared to other investments with higher risk/ROI.
While it is harder to mine the next ounce of gold and the amounts left to mine is shrinking every day, the last 100 years the yearly production have gone up due to tech and discovery.
Gold is super interesting just as a thought experiment too. Like doesn't having massive stockpiles of gold diminish it's value? Since there's no "velocity of money" so the whales can always dump.
At least Jihan is selling miners for BCH, unfortunately he's not paying his suppliers in BCH so it's not working to increase velocity very much.
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