So as most of you know I invested in bitcoin and other crypto currency back in 2012/2013.Whenever I talk to people about Bitcoin, people always seem to ask What will happen if it crashes? or What do you plan to do with them? If it crashes then it crashes, I do not have control of its price. I only own 0.001% of all Bitcoins. I never paid more then 37$ for a Bitcoin. So as long as it doesnt drop below 37$ I guess I still profit. If it does crash to 0 then I would probably laugh my ass off hysterically. The only way I do see bitcoin completely crashing is if the U.S economy collapsed. Which mathematically speaking it will eventually will. I also dont see the U.S dollar surviving for another 10 years. I see China becoming the next economic superpower. China, has been aggressively buying physical gold in recent years. And I speculate that the Asian country’s end goal is to make the yuan a reserve currency, China’s end goal, in my opinion , is to eliminate the United States dollar as the reserve currency. ( This is all speculation Im not a psychic, but from watching the world economy, this is my prediction) So If I think the US dollar will crash and be replaced by the Chinese yaun what am I doing in Bitcoin (crypto Currencies)? Shouldnt I be investing in the YAUN or be buying gold ? This is where Im playing a very risky game of chess. Of course Ive invested in the Yaun and own a small percentage of gold, but thats only because if you put all your eggs in one basket youll find yourself out of the game very quickly. I plan to cashout in Silver. Silver was $4.95 in 2004 now it s $20.00 thats a 330% rise in value in 10 years. Gold was 363$ in 2004 now its 1300 thats a 258% rise in value. Silver was the better choice for investors in the last 10 years. At 1300$ for an ounce of gold and 20$ for an ounce of silver I can get a larger volume of silver. Plus at 20$ silver seems quite undervalued. If China goes to a gold standard I see Gold rising, but I see silver shadowing behind. Its seems to human nature to copy one another, but if we cant have what someone else has well try to have the next best thing. Once the US dollar crashes I see more countries ditching fiat currency and following Chinas move on backing there currency with base metals. Im hoping ( more like gambling ) that silver will be one of those metals. Silver also has a 1000s of uses in the modern world so I dont see it dropping to 0$. Unless humans realize technology can take care of us and we dont have to work or kill each other. That theres enough room and this planet for everyone, but sadly I dont see that happening either. So back to the chess game, Im waiting for the perfect moment to sell all my crypto currencies, I need to wait for bitcoin price to be at its peek, silver at its cheapest, before china backs there currency, and before the dollar crashes. I dont see why people would want be in the dollar anyway. Since the federal reserve was create in 1913 the dollar has dropped 97% in value...... That just seems like a bad investment. If Im wrong about silver Ill most likely just make a shit ton of jewellery with it. If Bitcoin crashes before I get to cashout well then It was a very fun experiment to play with and Ill most likely just move into stocks . I dont see the idea of a digital currency going away with 95% of the US money supply being digital were almost there.
Posted on: Mon, 31 Mar 2014 00:05:54 +0000
Trending Topics
Recently Viewed Topics
© 2015