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Gold Is Dead, Long Live Cryptos

ByTim Knight
Published 12/11/2017, 02:10 PM
Updated 07/09/2023, 06:31 AM

You could have put money into anything – anything at all – over the past six years and done better than gold. Real estate, stocks, kitty litter. Gold has been a total piece of garbage and I’ve got a sneaking suspicion that gold bugs have had it up to “here” with the precious metal and are moving into cryptos.

GLD

SPDR Gold Shares

Those who love gold must feel horribly betrayed, particularly as they look at bitcoin. The same money put into cryptos instead of gold would have yielded millions – if not billions (given enough starting capital) in profits, whereas gold has just withered away like a maple leaf on an autumnal sidewalk. It’s no different for the miners, of course.

GDX

VanEck Vectors Gold Miners

The reason I think of these two (gold and bitcoin) together is because the zeitgeist is sort of the same:

(a) anti-government

(b) anti-central bank

(c) safe haven

(d) contrarian. Gold has betrayed its zealous following, whereas bitcoin has made its adherents incredibly rich.

Latest comments

Gold has maintained some type of value for millennia. Critics have always been critical of gold and looking for it's downfall. Unfortunately for the critics, it's the longest standing form of value since recorded history. People need to get over this idea that gold is archaic. Itll always be there as long as humans live. #takethatfor data
So are you Tim Knight. Everything you say is wrong. I wonder where you get more and more money to trade. You been short the markets since 2009. I used to follow you but you are the worst trader!
GOLD is dead for good this time. Interest rates will put the final nail on the coffin.
Crypto is not living it is self distruction, increasing in price like a swarm of locusts inevitably will eat itself into an unreasonable space. It can not grow at this rate, a correction now to where it ought to be will ********it.
Bitfinex, a Hong Kong-based bitcoin exchange, was briefly shut down last year after hackers stole nearly 120,000 bitcoins -- worth more than $65 million at the time. . The year before, cyber thieves made off with about 19,000 bitcoins after breaking into European exchange Bitstamp. . Cybersecurity firm FireEye warned recently that North Korean hackers are stepping up their attempts to steal bitcoin in order to support Kim Jong Un's authoritarian regime.
More than $70 million stolen in bitcoin hack http://money.cnn.com/2017/12/07/technology/nicehash-bitcoin-theft-hacking/index.html
When Skynet confiscates your crypto you will wish you were holding physical.
skynet, while fictional, actually encourages the use of blockchains. read up on it crickett. holdin doorstops of silver and gold will earn you nothing. especially when no one really wants the stuff anymore. if you really want to hold "physical" stuff, paint some garden rocks gold and silver and hold those.
Mt. Gox
I totally agree with you. People are not fully educated. Its the biggest bubble in history. Look what happened to marijuana. Yes all the stocks skyrocketed but where is it now? Same thing will happen. They will get your money and run. Lol
historical dead? lets see December's of last years
who buys gold in 2017??
maybe tramp
People will suffer through the market gyrations of Bitcoin.  What they will not tolerate is government "assistance" to help make Bitcoin markets nicer and better.  That's always how government gets involved where it should not be.  One problem Bitcoin faces is that governments tend to control the internets within their borders.  China's Great FireWall is the best known example, but no the only example.
gold is mostly dead. it has it's place for holding doors open and catching lint. i have some silver owned for decades it's mostly useless and trying to sell it is a joke. will say the marketing for gold and silver is genius. i fell for it. notice there's no marketing for blockchains.
No marketing for blockchain isnt the point ppl are buyingg BtC cuz its going up not because they care about its usefulness lol....anyway. Also of youve been alove the last 6m9nths you know what BTC is. Lol.... Anyway, this is just Tim Knight trolling the gold bugs. Tim yet another well placed trolling, well done. Although Schiff WILL have the last laugh, such are how these th8ngs play out, in the end.
 schiff makes a living writing for people like you. too funny.
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