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Started By
Message
Buying metals online-observation
Posted on 1/29/26 at 6:58 pm
Posted on 1/29/26 at 6:58 pm
I am a hard asset advocate so I’m into precious metals, bitcoin, everything. As such, I am increasingly concerned with what happens when government issued currencies default. China is clearly already printing their currency to hoard gold. The game theory is starting to unfold.
Anyways, when you buy gold or silver online at many dealers, you can use ACH, credit card or bitcoin. A few dealers even accept other cryptocurrencies. The options are generally USD and bitcoin. You can’t use gold to buy silver or vice versa.
There are two options for online payment and one is clearly in big trouble. We’re not getting rid of the internet so that we can revert to payments in silver. So, what other option is there?
Anyways, when you buy gold or silver online at many dealers, you can use ACH, credit card or bitcoin. A few dealers even accept other cryptocurrencies. The options are generally USD and bitcoin. You can’t use gold to buy silver or vice versa.
There are two options for online payment and one is clearly in big trouble. We’re not getting rid of the internet so that we can revert to payments in silver. So, what other option is there?
This post was edited on 1/29/26 at 7:00 pm
4
Posted on 1/29/26 at 7:22 pm to beaverfever
quote:
you can use ACH, credit card
Posted on 1/29/26 at 7:28 pm to Naked Bootleg
Those are fiat rails. I’m talking about theoretical options to replace fiat.
Posted on 1/29/26 at 7:41 pm to beaverfever
Not the answer you are seeking.
Keep China’s inflation tradeoff (the catch) in scope. Creating currency to buy gold is not free.
Domestic money supply rises
Inflation pressure increases
Currency may depreciate.
The strategy only works if:
Gold accumulation is gradual
Domestic inflation is controlled
Purchases are sterilized or offset
Otherwise, you’re just swapping currency debasement for shiny metal.
Beware.
Keep China’s inflation tradeoff (the catch) in scope. Creating currency to buy gold is not free.
Domestic money supply rises
Inflation pressure increases
Currency may depreciate.
The strategy only works if:
Gold accumulation is gradual
Domestic inflation is controlled
Purchases are sterilized or offset
Otherwise, you’re just swapping currency debasement for shiny metal.
Beware.
Posted on 1/29/26 at 8:00 pm to Everyday Is Saturday
Yeah the Yuan is screwed too eventually.
And I’m not seeking a specific answer . I’m open to anything. Honestly, it’s the first time I’ve ever seriously considered that a cryptocurrency other than btc could have value. My mind is more open than it was previously.
Almost every other cryptocurrency requires an element of trust. Monero seems like one major exception but I’ve never owned it.
Tokenized gold is interesting but it would ultimately end up being co-opted by governments I would think.
And I’m not seeking a specific answer . I’m open to anything. Honestly, it’s the first time I’ve ever seriously considered that a cryptocurrency other than btc could have value. My mind is more open than it was previously.
Almost every other cryptocurrency requires an element of trust. Monero seems like one major exception but I’ve never owned it.
Tokenized gold is interesting but it would ultimately end up being co-opted by governments I would think.
This post was edited on 1/29/26 at 8:02 pm
Posted on 1/29/26 at 8:40 pm to beaverfever
quote:
There are two options for online payment and one is clearly in big trouble. We’re not getting rid of the internet so that we can revert to payments in silver. So, what other option is there?
We need some sort of secure, global, monetary infrastructure. Bonus points if it requires no 3rd party.
Posted on 1/29/26 at 8:56 pm to beaverfever
Will the dealers accept barrels of oil or frozen concentrated orange juice?
This post was edited on 1/29/26 at 8:57 pm
Posted on 1/29/26 at 9:16 pm to beaverfever
quote:Is this a plug for Monero?
Almost every other cryptocurrency requires an element of trust. Monero seems like one major exception but I’ve never owned it.
What’s wrong with bitcoin? It meets all three criteria for elements (or functions) of money/currency:
1. Medium of Exchange: A universally accepted instrument for buying and selling goods and services.
2. Unit of Account: A standard numerical monetary unit of measurement for valuing goods, services, and assets.
3. Store of Value: An asset that maintains its purchasing power over time, allowing it to be saved and used later.
Trust isn’t one of the elements.
This post was edited on 1/29/26 at 9:17 pm
Posted on 1/29/26 at 9:26 pm to dkreller
quote:
frozen concentrated orange juice
I be totally down for a frozen concentrated orange juice coin.
Posted on 1/30/26 at 6:05 am to TDFreak
quote:lol no. I would absolutely not recommend anyone buy monero. I have a significant bitcoin position and own no other cryptocurrencies. That’s my full disclosure.
Is this a plug for Monero?
I was just stating that it was the only cryptocurrency aside from bitcoin that debatably met minimum thresholds from a standpoint of trust minimization. It has a litany of other issues to my knowledge.
Trust is one of the elements. I disagree with you on that point. If you’re departing a completely trust based system, a lack of monetary governance is critical.
This post was edited on 1/30/26 at 6:08 am
Posted on 1/30/26 at 6:08 am to dkreller
quote:Nope.
Will the dealers accept barrels of oil or frozen concentrated orange juice?
Posted on 1/30/26 at 6:15 am to beaverfever
The point of this thread was mostly the gold vs bitcoin debate. Again, I own both.
Anyways, you can buy gold with bitcoin right now. It’s functional right now. You can’t buy bitcoin with gold. That seems like a big deal. Like we’re missing the obvious.
Anyways, you can buy gold with bitcoin right now. It’s functional right now. You can’t buy bitcoin with gold. That seems like a big deal. Like we’re missing the obvious.
This post was edited on 1/31/26 at 12:03 am
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