http://www.youtube.com/watch?v=dC7liOKZGVU
Our friend MARC, talks about BITCOINS killing the GOLD VALUE.
Marc makes me to think...
Please comment.
Regards .
Avoiding Gold Mining Stocks!
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Avoiding Gold Mining Stocks!
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- Pointedstick
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Re: Avoiding Gold Mining Stocks!
I think I would not blame anyone with a high percentage of their net worth in Bitcoins if they just had a small heart attack:
Personally, I don't see Bitcoins displacing gold anytime soon, if only because they require electricity and the internet. It's just too fragile, and the more ubiquitous the internet and electricity become all over the world, the more value there will be in owning a portable store of value totally outside of any digital realm. This is in addition to concerns about liquidity, low volume, and hoarding.
IMHO, of course.
Personally, I don't see Bitcoins displacing gold anytime soon, if only because they require electricity and the internet. It's just too fragile, and the more ubiquitous the internet and electricity become all over the world, the more value there will be in owning a portable store of value totally outside of any digital realm. This is in addition to concerns about liquidity, low volume, and hoarding.
IMHO, of course.
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Re: Avoiding Gold Mining Stocks!
I find bitcoin fascinating, but I'm also reading about litecoin. How many digital "coins" will there be?Pointedstick wrote: Personally, I don't see Bitcoins displacing gold anytime soon, if only because they require electricity and the internet
No one can come along and invent a substitute for gold. Short of modern-day alchemy or finding a world-changing motherlode, there is no ruining gold, it seems.
Re: Avoiding Gold Mining Stocks!
The more people go on about how terrible gold mining shares are, the more conviction I have to keep buying them on the way down. The fact that there are almost no positive articles about this sector leads me to believe the bottom is near.
Re: Avoiding Gold Mining Stocks!
I like the miners too, but I think there are more would-be contrarians out there waiting for a rally than you might think. I can see things get much uglier for quite a while longer (but I still have small position).Cyclesguy wrote: The more people go on about how terrible gold mining shares are, the more conviction I have to keep buying them on the way down. The fact that there are almost no positive articles about this sector leads me to believe the bottom is near.
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Pascal
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Re: Avoiding Gold Mining Stocks!
I love mining stocks for my VP. So often they have failed to rally that almost everyone has given up on them. I often wonder, who is left to sell them? Probably the people who bought them recently and traded back out of them
Re: Avoiding Gold Mining Stocks!
One of my favorite stocks in the whole market is Freeport McMoran.
It has held up really well compared to some of the other miners, in part probably because it is a lot more diversified than most other companies in the mining sector.
It has held up really well compared to some of the other miners, in part probably because it is a lot more diversified than most other companies in the mining sector.
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Re: Avoiding Gold Mining Stocks!
That is the #1 weighted stock holding in PRPFX, followed by BHP mining and then (get this) Facebook (!).MediumTex wrote: One of my favorite stocks in the whole market is Freeport McMoran.
It has held up really well compared to some of the other miners, in part probably because it is a lot more diversified than most other companies in the mining sector.
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Pascal
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Re: Avoiding Gold Mining Stocks!
When central bankers start stockpiling Bitcoin bars and Indians start giving out Bitcoin bling for weddings I will consider this more closely.
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