Other Podcasts

[DBTrek]

Well, as I mentioned I've been really into investing in markets and crypto lately, so here is the Peter Schiff podcast, the only financial one I listen to regularly. Peter is a gold bug who hates Bitcoin, but the rest of his analysis is razor sharp, most of the time. I personally think he only hates Bitcoin, often and voiciferously, because he knows it makes ass-mad crypto guys listen to his show.

[SuburbanFarmer]

Crypto has a whole lot of ways to fail as a currency, that gold does not. It’s a fun modern thing, but nothing will ever replace shiny metals long term.

[DBTrek]

Crypto has a whole lot of ways to fail as a currency, that gold does not. It’s a fun modern thing, but nothing will ever replace shiny metals long term.

You're high as a kite, and apparently paying no attention to the development of national cryptos.

[Martin Hash]

Crypto is even more imaginary than currency because it’s not backed up by guns.

[SuburbanFarmer]

I can still use gold during a power outage.

Or internet outage.

[DBTrek]

Must be why it has a $670 Billion market cap - larger than all but eight companies on the entire globe.

Just imaginary useless stuff.

[SuburbanFarmer]

Must be why it has a $670 Billion market cap - larger than all but eight companies on the entire globe.

Just imaginary useless stuff.

Not at all. It’s just not where I’d put all my eggs to protect against currency failure.

[DBTrek]

I can still use gold during a power outage.

Maybe. If you have someone willing to take it nearby. Someone who can weigh and verify its authenticity at the drop of a hat and is willing to give you actual goods for it. If it's not stolen from you. If the authorities don't confiscate it. If you have access to it during a power outage. If you can safely transport it to the purchasing location.

Sure ... in those extremely unlikely set of conditions - you could use it during a power outage.
/shrug

[SuburbanFarmer]

I can still use gold during a power outage.

Maybe. If you have someone willing to take it nearby. Someone who can weigh and verify its authenticity at the drop of a hat and is willing to give you actual goods for it. If it's not stolen from you. If the authorities don't confiscate it. If you have access to it during a power outage. If you can safely transport it to the purchasing location.

Sure ... in those extremely unlikely set of conditions - you could use it during a power outage.
/shrug

Same risks as cash. Without the pesky fiat manipulation.

[DBTrek]

I can still use gold during a power outage.

Maybe. If you have someone willing to take it nearby. Someone who can weigh and verify its authenticity at the drop of a hat and is willing to give you actual goods for it. If it's not stolen from you. If the authorities don't confiscate it. If you have access to it during a power outage. If you can safely transport it to the purchasing location.

Sure ... in those extremely unlikely set of conditions - you could use it during a power outage.
/shrug

Same risks as cash. Without the pesky fiat manipulation.

No, different risks. Gold seizures have happened in multiple countries - not aware of any fiat seizures. Then there's the storage fees, transportation fees, inventory fees, and other associated costs of owning precious metals - cash doesn't have those.

What people miss about bitcoin is it provides services that cash and gold do not. No BTC storage fees or minimum balance requirements. No worries about it being stolen, the public, immutable, ledger is open for everyone to see who owns which BTC. Want to do a private transaction with someone in another nation? No currency exchange fees, high bank-wire fees, or multiple-day delays necessary. Send BTC to them, instantaneously and securely. Let's see cash and gold do that.

Oh ... they can't? Well ... seems like BTC DOES provide value that gold and fiat lack.

You want to seize my BTC? Good luck. All you have to do is take down the global BTC mining infrastructure, including every user node with a copy of the blockchain. Awwww snap, no single government can do that. Damn. Want to act like a bank and lend your BTC out for others to use while you reap interest? Man, so many sites out there providing that very service. Want to take low-interest cash loans against your BTC so you can use its value without liquidating the asset? Again, plenty of ways to do it. Are gold and cash doing that? No? How interesting ...