NottsRam77 Posted June 6 Author Share Posted June 6 21 hours ago, GboroRam said: Or dollars. Yes … but while the value of the peso is being inflated to oblivion against the dollar ….. the value of the dollar is also being inflated away too the only way to protect your wealth against inflation is to put it into inflation beating assets and historically theres one obvious winner. also i wouldnt trust a Mexican bank/ gov as far as i could throw it much rather have self custody of my owm money if i was in a latin american country Link to comment Share on other sites More sharing options...
NottsRam77 Posted June 6 Author Share Posted June 6 On 04/06/2024 at 17:17, cstand said: Mexico stock market dropped 11% after electing a leftwing president. Bitcoin now over $70,000 up 2% Gold down 1% All a bit bizarre but if you live in a country with high inflation, corruption and high death rate Bitcoin might make sense. It totally makes sense, u have control of ur own money and no one can freeze or confiscate it if u keep it in cold storage. U could cross a border with ur ledger holding millions and millions of dollars and no one would have a clue. Try doing that with gold or hard fiat when escaping conflict or tyranny cstand 1 Link to comment Share on other sites More sharing options...
G STAR RAM Posted June 12 Share Posted June 12 On 05/06/2024 at 20:10, NottsRam77 said: Also If u live in mexico or any south american country your being absolutely shafted by inflation as ur local currency continues to go to absolute s*** against the dollar saving in bitcoin in these countries for that store of wealth / and security of that wealth is an absolute no brainer The argentinian peso used to trade at 1 : 1 against the dollar as of this minute is trading just shy of 900 peso to the dollar Thats why u (they should) save in bitcoin Might be being thick here but surely they would have been better saving in dollars? Link to comment Share on other sites More sharing options...
Stive Pesley Posted June 12 Share Posted June 12 2 hours ago, G STAR RAM said: Might be being thick here but surely they would have been better saving in dollars? Yeah @GboroRam made the same point. As things stand the value of BTC only has any meaning in relation to how much it is worth in exchange for currency you can actually spend Plus good luck to any country adopting it as an actual currency, trying to navigate the volatility If you look at the last 5 years chart of GBP vs USD, it has varied but the difference between the high and the low is only like 30 cents If you look at the last 5 years of BTC vs USD it's also been up and down the difference between the high and the low is about 60,000 dollars! Link to comment Share on other sites More sharing options...
NottsRam77 Posted June 12 Author Share Posted June 12 12 hours ago, G STAR RAM said: Might be being thick here but surely they would have been better saving in dollars? Quite simply if u sit and hold in dollars, pounds or whatever fiat currency u want you are losing that moneys buying power to inflation. A slightly over the top example, although not with recent inflation. Buy say u saved £1000 4 years ago when a loaf of bread could be bought for £1… 3 years later, 1 horrendous government mini budget and some even worse inflation and those 1000 loaves u could buy and now costing u 1200-1300 pounds so your losing your buying power to protect your wealth against inflation you need to keep in assets that will appreciate over time at a faster rate some try to do it through stocks and shares, some try to do it through gold, some try to do it through property. i choose to do it through bitcoin because historically its out performed all the others over any sensible time frame. Property u have maintenance costs, agents fees potentially and having to deal with tenants and its supply is constantly being diluted as more are being built all the time stocks and shares your investing in companies and hoping their operators and owners make the best decsions that are right for share price. gold meh…. Buy it, store it… its still being diluated as more is being mined bitcoin, known supply, easily stored, cant be manipulated by gov policy , no shareholders to pay, etc etc and it kicks the ass of inflation lol Link to comment Share on other sites More sharing options...
G STAR RAM Posted June 12 Share Posted June 12 24 minutes ago, NottsRam77 said: Quite simply if u sit and hold in dollars, pounds or whatever fiat currency u want you are losing that moneys buying power to inflation. A slightly over the top example, although not with recent inflation. Buy say u saved £1000 4 years ago when a loaf of bread could be bought for £1… 3 years later, 1 horrendous government mini budget and some even worse inflation and those 1000 loaves u could buy and now costing u 1200-1300 pounds so your losing your buying power to protect your wealth against inflation you need to keep in assets that will appreciate over time at a faster rate some try to do it through stocks and shares, some try to do it through gold, some try to do it through property. i choose to do it through bitcoin because historically its out performed all the others over any sensible time frame. Property u have maintenance costs, agents fees potentially and having to deal with tenants and its supply is constantly being diluted as more are being built all the time stocks and shares your investing in companies and hoping their operators and owners make the best decsions that are right for share price. gold meh…. Buy it, store it… its still being diluated as more is being mined bitcoin, known supply, easily stored, cant be manipulated by gov policy , no shareholders to pay, etc etc and it kicks the ass of inflation lol But in the example given, would the person have been better holding dollars or Bitcoin? Link to comment Share on other sites More sharing options...
NottsRam77 Posted June 12 Author Share Posted June 12 (edited) 11 hours ago, Stive Pesley said: Yeah @GboroRam made the same point. As things stand the value of BTC only has any meaning in relation to how much it is worth in exchange for currency you can actually spend Plus good luck to any country adopting it as an actual currency, trying to navigate the volatility If you look at the last 5 years chart of GBP vs USD, it has varied but the difference between the high and the low is only like 30 cents If you look at the last 5 years of BTC vs USD it's also been up and down the difference between the high and the low is about 60,000 dollars! You’re debating which dirty shirt to get out of the laundry lol The message is clear. If you SAVE in ANY fiat currency over time, you’re getting slowly destroy. It is literally a mathematic certainty. The debt based system is designed to expand ad Infinitum. The points you make are about the ability to spend the currency is not a new one. I’ve bought drinks and food numerous times using Bitcoin. The vendor/recipient receives whatever currency they choose to. It doesn’t stop me holding bitcoin in favour of any other fiat. Do I hold a small amount of fiat? Absolutely I do. There are things I have to buy in fiat and there’s no method yet for me to use direct debits etc. Bitcoin is currently maturing into the store of value phase of adoption. Next, timeframe 10-20 years, will be the ‘unit of exchange’ , following that, the unit of account phase. However, by the time it’s obvious, the opportunity will be greatly reduced compared to what it is today. It you’re likely to need the money in the coming 1-2 years, then I’d advise caution, and your scepticism may be well advised and well placed. However, if you’re in a position where you can afford to lock a little up and forget about it for 4 years or more, then it’s insanity to hold something that is mathematically certain to be debased. Here’s a link. When the number on the top left, starts going down. Please let me know, as I’ll be holding Bitcoin whilst you’re all asking yourselves why your bank card doesn’t work. Lol https://www.usdebtclock.org and now watch this this is why im so passionate about bitcoin Edited June 12 by NottsRam77 Link to comment Share on other sites More sharing options...
NottsRam77 Posted June 12 Author Share Posted June 12 23 minutes ago, G STAR RAM said: But in the example given, would the person have been better holding dollars or Bitcoin? Simple terms , and im not being condersending just its hard to explain over text but its bitcoin. If ur trying to beat inflation and protect the value of ur money over time its bitcoin. the pound, the peso, the euro lose value against the dollar, the dollar is the worlds currency everyone buys goods and commodities around the world in it, there is a demand for it. Outside of the uk how much demand is there for the pound.. bugger all so these other currencies lose against the dollar as they are weaker… and they lose to government inflation. the dollar loses its value against inflation and bitcoin bitcoin beats inflation if u dont believe me theres about a million charts showing each asset against the other and inlflation over time Link to comment Share on other sites More sharing options...
G STAR RAM Posted June 12 Share Posted June 12 (edited) 18 minutes ago, NottsRam77 said: Simple terms , and im not being condersending just its hard to explain over text but its bitcoin. If ur trying to beat inflation and protect the value of ur money over time its bitcoin. the pound, the peso, the euro lose value against the dollar, the dollar is the worlds currency everyone buys goods and commodities around the world in it, there is a demand for it. Outside of the uk how much demand is there for the pound.. bugger all so these other currencies lose against the dollar as they are weaker… and they lose to government inflation. the dollar loses its value against inflation and bitcoin bitcoin beats inflation if u dont believe me theres about a million charts showing each asset against the other and inlflation over time *condescending* 😉😂 The example given was the Argentinian peso against the dollar. Did Bitcoin out perform the dollar against the Argentinian peso in the period in question? Edited June 12 by G STAR RAM Link to comment Share on other sites More sharing options...
NottsRam77 Posted June 14 Author Share Posted June 14 On 12/06/2024 at 21:11, NottsRam77 said: Simple terms , and im not being condersending just its hard to explain over text but its bitcoin. If ur trying to beat inflation and protect the value of ur money over time its bitcoin. the pound, the peso, the euro lose value against the dollar, the dollar is the worlds currency everyone buys goods and commodities around the world in it, there is a demand for it. Outside of the uk how much demand is there for the pound.. bugger all so these other currencies lose against the dollar as they are weaker… and they lose to government inflation. the dollar loses its value against inflation and bitcoin bitcoin beats inflation if u dont believe me theres about a million charts showing each asset against the other and inlflation over time Googled it in 2002 the peso was 1-1 with the dollar… btc came along 2008/9 so yes btc has expondentially and immeasurably outperformed the dollar in that time frame what i will say though is back then and for the next however many years no sane person would have seen btc as a store of value as it was literally then this internet magic money.. its come a v v long way since Link to comment Share on other sites More sharing options...
NottsRam77 Posted June 14 Author Share Posted June 14 On 12/06/2024 at 07:24, G STAR RAM said: Might be being thick here but surely they would have been better saving in dollars? Comrade 86 1 Link to comment Share on other sites More sharing options...
G STAR RAM Posted June 14 Share Posted June 14 2 hours ago, NottsRam77 said: What about the interest earned on your savings? Link to comment Share on other sites More sharing options...
Stive Pesley Posted June 14 Share Posted June 14 1 hour ago, G STAR RAM said: What about the interest earned on your savings? To be fair - the fellas message in that vid is "avoid keeping your savings in you current account". Which is advice akin to "avoid smashing your balls with a hammer". His other message is "buy bitcoin because you have the potential of not losing money". So at least he admits it's all just a casino My favourite pearl of his wisdom is "cash is meant to be held for short term periods so that you can buy the things you need" I'm doing pretty good at the short term thing thanks, and I don't even have to try! 😂 NottsRam77 1 Link to comment Share on other sites More sharing options...
G STAR RAM Posted June 15 Share Posted June 15 12 hours ago, Stive Pesley said: To be fair - the fellas message in that vid is "avoid keeping your savings in you current account". Which is advice akin to "avoid smashing your balls with a hammer". His other message is "buy bitcoin because you have the potential of not losing money". So at least he admits it's all just a casino My favourite pearl of his wisdom is "cash is meant to be held for short term periods so that you can buy the things you need" I'm doing pretty good at the short term thing thanks, and I don't even have to try! 😂 It does seem as though the people advising are overlooking some very fundamental things and, are either thick themselves, or assuming everyone else is thick. Stive Pesley 1 Link to comment Share on other sites More sharing options...
Comrade 86 Posted June 15 Share Posted June 15 21 hours ago, NottsRam77 said: The only message you should be pushing is DOYR. That's all the evangelising that's needed, or warranted. You are not an investment specialist and you really need to stop presenting yourself as one. No disrespect intended, but anyone taking your mantra at face value could find themselves in all sorts of bother. To my way of thinking, posting fundamentally flawed advice like the above is shilling, not advising and as you know, I hold Bitcoins myself. Not trying to get on your case here, I just think that for some, the line you are pushing is a very dangerous one. Stive Pesley and Crewton 1 1 Link to comment Share on other sites More sharing options...
NottsRam77 Posted June 15 Author Share Posted June 15 (edited) 4 hours ago, Comrade 86 said: The only message you should be pushing is DOYR. That's all the evangelising that's needed, or warranted. You are not an investment specialist and you really need to stop presenting yourself as one. No disrespect intended, but anyone taking your mantra at face value could find themselves in all sorts of bother. To my way of thinking, posting fundamentally flawed advice like the above is shilling, not advising and as you know, I hold Bitcoins myself. Not trying to get on your case here, I just think that for some, the line you are pushing is a very dangerous one. I have stated throughout this thread MANY a time DOYR and only ever invest what u can afford to lose no matter what u invest in, bitcoin or otherwise And that video is slightly tongue in cheek, but he has a point at the end of the day. cash in the bank is losing value annually .. its a fact that no one can argue with how u beat that inflation is totally down to the individual. but theres only so many answers right? Edited June 15 by NottsRam77 Link to comment Share on other sites More sharing options...
NottsRam77 Posted June 15 Author Share Posted June 15 23 hours ago, G STAR RAM said: What about the interest earned on your savings? the interest on your savings wont keep up with inflation, not even close Link to comment Share on other sites More sharing options...
G STAR RAM Posted June 15 Share Posted June 15 28 minutes ago, NottsRam77 said: the interest on your savings wont keep up with inflation, not even close Inflation is currently around 2.3% compared to the 4.95% on a savings account? Crewton 1 Link to comment Share on other sites More sharing options...
Comrade 86 Posted June 15 Share Posted June 15 20 minutes ago, NottsRam77 said: the interest on your savings wont keep up with inflation, not even close The current UK inflation rate is 2.3%. Last year it hit a 41 year high at 11.1%. Last year you comment would have been true, this year, it's not. You talk in absolutes, but the landscape is changeable (for crypto and fiat) and you really need to grasp that fact. Link to comment Share on other sites More sharing options...
NottsRam77 Posted June 16 Author Share Posted June 16 (edited) 9 hours ago, Comrade 86 said: The current UK inflation rate is 2.3%. Last year it hit a 41 year high at 11.1%. Last year you comment would have been true, this year, it's not. You talk in absolutes, but the landscape is changeable (for crypto and fiat) and you really need to grasp that fact. Erm u know they change the baskets of goods they use to measure inflation. coffee and olive oil used to be in the basket but they went up 70% so they have now been removed. Fuel bills remain what 20,30,40 percent higher than they were 2 years ago. car insurance .. 40-70% renewal quotes. council tax 7- 10% Water .. what are they lobbying from us now .. 30 - 50% increase? virgin/sky … mines gone up 10% basic package even a fricking happy meal has gone up 10% plus lol ”measured” what they want to tell u inflation and actual inflation.. two very very different things Edited June 16 by NottsRam77 Link to comment Share on other sites More sharing options...
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