The risk with paper/virtual gold is following - it is just like the doomsday bunker business, where you can make a reservation for a spot. If the doomsday really comes, it might turn out - that 1000 seats are sold for a bunker with 10 spaces. Company that sold it - might go bankrupt, but it does not matter, it is end of the world anyway. The same with gold - if you have it in physical form, then you control it and can use it/sell it, travel with it etc., but if you have paper gold like shares of $GLD or some kind of token, then if there is a doomsday scenario and everyone will want to get their gold and use it, then it might turn out - that suddenly, borders are shut (like now) or there is some other issue with similar scenario as above - 1000 people trying to get gold that is enough only for first 10, or a country that stored your gold - decided to confiscate it. So if you do want to own gold, then real gold is the way to go, just have to think carefully about storing it.
Kristaps, thank for your valuable input. I have also decided to liquidate the majority of my p2p/crowdfunding investments, but i end with about 20k eur spread over a few platforms on both p2p and real estate crowdfunding. I mistakenly did not think about the possibility of having to liquidate those investments, (since i can make 20k in less than 3 months through work) but now i want to and i cant - how can i hedge that risk? Any tips will be appreciated.
I think I can understand why you say you'll buy bitcoin. But don't you think that the transaction costs are becoming prohibitive? Do you think other altcoins are going to become better than bitcoin?
No, transaction costs are not high. And Bitcoin is the only crypto currency that is decentralised and working fine for 10+ years, everything else - altcoins/shitcoins will most likely go to 0.
Russia and America are going to form allies, thats a good thing. Corona virus was the pin in a bubble that needed to pop. Would of been 2021 but happened sooner then expected and in this way. The stock market is fake as with the silver and gold charts not correlating with the real physical thing, thats how you know. Helicopter money is a coming in, the bail outs are going to cost us Americans deeply, the big corporations did it again, now we have to help them and Corona is the scapegoat... Lol
What are your thoughts on the PAX gold token? They state its the equivalent of owning real gold and it can even be staked on nexo for 8% per year...
The risk with paper/virtual gold is following - it is just like the doomsday bunker business, where you can make a reservation for a spot. If the doomsday really comes, it might turn out - that 1000 seats are sold for a bunker with 10 spaces. Company that sold it - might go bankrupt, but it does not matter, it is end of the world anyway. The same with gold - if you have it in physical form, then you control it and can use it/sell it, travel with it etc., but if you have paper gold like shares of $GLD or some kind of token, then if there is a doomsday scenario and everyone will want to get their gold and use it, then it might turn out - that suddenly, borders are shut (like now) or there is some other issue with similar scenario as above - 1000 people trying to get gold that is enough only for first 10, or a country that stored your gold - decided to confiscate it. So if you do want to own gold, then real gold is the way to go, just have to think carefully about storing it.
Kristaps, thank for your valuable input. I have also decided to liquidate the majority of my p2p/crowdfunding investments, but i end with about 20k eur spread over a few platforms on both p2p and real estate crowdfunding. I mistakenly did not think about the possibility of having to liquidate those investments, (since i can make 20k in less than 3 months through work) but now i want to and i cant - how can i hedge that risk? Any tips will be appreciated.
Not sure I can help. Try to remember about this situation before you do your next investment.
I think I can understand why you say you'll buy bitcoin. But don't you think that the transaction costs are becoming prohibitive? Do you think other altcoins are going to become better than bitcoin?
No, transaction costs are not high. And Bitcoin is the only crypto currency that is decentralised and working fine for 10+ years, everything else - altcoins/shitcoins will most likely go to 0.
Russia and America are going to form allies, thats a good thing. Corona virus was the pin in a bubble that needed to pop. Would of been 2021 but happened sooner then expected and in this way. The stock market is fake as with the silver and gold charts not correlating with the real physical thing, thats how you know. Helicopter money is a coming in, the bail outs are going to cost us Americans deeply, the big corporations did it again, now we have to help them and Corona is the scapegoat... Lol