digital currency/gold?

GreatApe

rabialiones wrote: »

'property will be worthless'- so it seems like theres no point in investing in btl. might as well be selfish and just 'spend, spend' ,spend.

The problem is you dont know for sure if this will happen and more importantly when it will happen

If general AI was to arrive in 5 years time the most sane thing to do would be to sell everything and go live a really hedonistic lifestyle and hope and pray that in five years time that the aliens we create will be benevolent

If it is 50 years away then you would have to live your life more or less the same as now.

jonnygee2

how will transactions take place for people who hold physical precious metals?

Why does payment method make any difference?

Right now people do not tend to walk into gold reserves with a sack full cash and come out with gold bars. Rather they purchase and sell gold via a broker, usually online in an entirely digital transaction.

rabialiones

jonnygee2 wrote: »

Why does payment method make any difference?

Right now people do not tend to walk into gold reserves with a sack full cash and come out with gold bars. Rather they purchase and sell gold via a broker, usually online in an entirely digital transaction.

at present when purchasing property, if cash purchase or large cash deposit, questions are asked due to money laundering regs. as to source of money



all transactions have to go through bank accounts, id checks are made etc

DannyPearce90

Or what about crypto as an alternative?

MobileSaver

DannyPearce90 wrote: »

Or what about crypto as an alternative?

How can Crypto be taken seriously when it is so volatile?

E.g. As of right now Bitcoin is worth almost 10% less today than it was yesterday. How many people would sell their house for BTC when they could be £24k out of pocket by the time they'd handed over the keys?

ExremelyCautiousSocialist

MobileSaver wrote: »

How many people would sell their house for BTC when they could be £24k out of pocket by the time they'd handed over the keys?

They cant right now without higher risk of loss vs gbp transaction.

https://www.reddit.com/r/Bitcoin/comments/aamxug/amaras_law_we_overestimate_the_short_term_and/

MobileSaver

ExremelyCautiousSocialist wrote: »

They cant right now without higher risk of loss vs gbp transaction.

Exactly. Which is why Bitcoin as an alternative to real currencies is a complete non-starter.

movilogo

Crypto currency is a fad.

Gold is timeless.

ExremelyCautiousSocialist

movilogo wrote: »

Crypto currency is a fad.

Gold is timeless.

Not against gold but dont like having to buy physical gold + having to store it and also not a fan of paying someone else to store it. At least crypto is easier to store and can be used easier vs gold.