Comments by "Jin Kee" (@JinKee) on "It's clear that bitcoin is winning, gold is losing: MicroStrategy CEO Michael Saylor" video.

when gold is hated, time to buy gold
7
1:00 “if you want to avoid inflation build everything out of 24 karat gold and it won’t go up in price” now i know why michael saylor wears a platinum rolex, because he likes watches that are made of materials that drop in price
2
@PierreGleize this is the crux of it. i think that in 2022 we will go backward as a planet, not forward. i’m not selling my bitcoin, but my allocation will be towards buying more gold rather than bitcoin. i think that gold will have a more immediate use case under survival conditions. we are no longer a growing society.
2
@PierreGleize you can ride a horse, sell it or eat it and if you have a winner or just enough horses you can make massive gains. it is all about your entry and exit points.
1
@PierreGleize basel III just upgraded gold to be tier I collateral at full spot price. previously under the BASEL II accords you could only borrow against it at 70% of its value. the LBMA good delivery list even goes down to one ounce bars that you can slip in your pocket. bitcoin has its uses, along with the lightning network, and bitcoin taproot upgrade will be interesting for privacy and smart contract implementation. but i think gold will have its season also, especially when you see extreme risk-off behaviour. if you look at the data, bitcoin historically tracks with the stock market just with more violent swings, while gold and bonds move opposite to the stock market.
1
@PierreGleize people are paying for haircuts with broken gold in venuezuela right now. i was at a gold exchange in new zealand today picking up an ounce and a sketchy looking guy just sold a 9kt bracelet for a few hundred bucks. gold is being traded at street level, meanwhile i have a bitcoin and i can’t even buy a tesla with it.
1