13 Responses to “Uh WOW!!! Cryptocurrency Carnage Continues”

  1. Daniel Barr

    Your attack on bitcoin and other digital currencies has merit, but not without flaw.

    1) Yes, digital currencies are subject to MANIAS, and Yes, so are all other commodities and stocks, bonds, etc., including SILVER and GOLD.

    2) One “attractive” aspect of the precious metals is that regardless of mania highs or lows throughout history, they have proven to still retain their purchasing power over long periods of recorded history

    3) ANY competitor(s) with FIAT money eventually become the ENEMY of the entity issuing it which eventually uses more and more draconian methods of forcing the general population to use the “Fiat” currency for payments and savings as the value of said FIAT currency declines into the dumpster.

    4) TIMING is one of the KEYS to successful financial investing, and the other is the all important right of OWNERSHIP without subjugation to confiscation or draconian taxation.

    In summary, I think your rigid adherence to any particular commodity or investment while neglecting the EQUAL if not more important aspects of TIMING & OWNERSHIP does a disservice to those listening to your commentaries.

    But then again, if we were all wildly successful “investors”, we wouldn’t be bothering to banter back and forth on the internet about all of this.

    Reply
    • Silver Shield

      1) Cryptos are in a Ponzi bubble. Gold and silver are extremely undervalued.

      2)yes

      3)silver has been demonetized and paper silver shorted into the most undervalued asset on earth.

      4)yes and now is the time to buy silver.

      Reply
    • Richard

      I totally agree with Daniel !

      Silver is THE value investment !!

      However, cryptos are a great way to moove capital in a secure and cheap way ! There are qualities that cryptos have and that silver does not !!

      I admire Chris’ work but his somewhat onesided view prevents him to recognize the great characteristics of crypto’s !

      Cryptos have a long way to go !!

      After the huge run from January to June they needed a breather !

      However they are far from beeing in a bubble and will come back with vengeance !!

      Reply
      • Silver Shield

        If this senate law passes, and it will, the only benefit of crypto (moving money cheaply internationally) will open you up to huge legal, tax, Civil Asset Forfeiture and criminal risks.

        The only real bottom for things that have no intrinsic value is zero.

        Reply
        • Richard

          The most criminal of all is US government !!
          I am lucky not to be subject to US legal compliance and will be using cryptos to transfer fund rapidely, securely and cheaply.

          Reply
  2. jim bo

    One should consider that there can be almost an infinite amount of different cryptocurrencies even though each one might have “limited” coins. Precious metals have the same supply no matter how many sell or own them. It takes resources to mine the dwinding supplies of precious metals while cryptocurrencies can be created by a computer stroke.

    Reply
    • Richard

      I am a Silverbug myself and am not fighting against PM.

      However I recognize great utility and value to cryptocurrencies.

      Reply
      • Silver Shield

        I think Blockchain should be as widely used and as FREE as email only if it is used as a digital receipt for real things like say an ounce of silver.

        All crypto currencies are a Ponzi scheme.

        Reply
        • Richard

          Good point Chris !!
          I indeed own OGC which is a fully gold backed cryptocurrency.

          Not all cryptos are ponzi !!

          Reply
          • Silver Shield

            OGC could still be a ponzi scheme much in the way gold smiths used to issue more paper receipts of gold than they had gold in their possession.

            BE the adult and take personal responsibility for the wealth in your possession.

            Stop looking for an easy way out of that!

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