Hi ADulay
Hope you're doing well.


"...what is the actual cost coming and going when buying gold?..."

Generally speaking, ~~(+4.5%) premium on the buy and ~~ (-0.0125%) on the sale (From a certified dealer). Premium meaning % above or below NY spot price). Based on a 1oz gold bar from an average-brand mint.

As you probably know the above premiums % will be lower on the "buy" for a larger denomination (e.g., 5oz or 10oz will have less buy-premium % and vice versa on a smaller bar such as a 1/2oz or 1/4oz bar will have a higher premium %).

For example, at today's gold price (4/16/23) of say $2004.00USD NY spot price one could buy a 1oz gold bar for 2093.00(+4.44%) and one could sell that same bar to the same dealer for 1979.00(-.0126%).

All other variables being equal the "buy" premium is typically less for Bars.
Bars% < Rounds < Coins



Continued Success,

Quickly overviewing this theme, it certainly has many horror stories and it is wise to be alert and aware.

Because I went to key US locations and met the original developers in a few projects, I avoided the thousand fold scams that still are increasingly posted on coinmarket.com

Perhaps I was lucky, but my very few core investments have been excellent , now x24, and Meta1 rises to $507.90 USD

I have tiny holdings in Eth, Btc, Ltc but all in a private cold wallet - clear of central exchanges.

Meta 1 has its own de-fi exchange.

It is still private but will probably start going public May onwards this year, and of course is a gold backed/ reserve stable coin.

It is shrewd and wise to be cautious, but do not be blinded by fear, and trust your inner best judgement.
Do not be cynical, but be healthily sceptical and overview current research, but do not get lost in the smoke and mirrors which the next bull run wave will encourage in coming months and years.

My guess for Bitcoin next peak $140,000 USD, then correct 60% again.

My guess for Meta 1coin in 2-3 years  $140,000 USD with max correction permitted being less than 5% by smart contract - available via the White Paper. Meta1 coin is outside of US jurisdiction.

Lol. We shall see. It doesn't really matter when you have sufficient reserves and safety, and take note of the warnings from Whitney Webb about the controlled demolition of the banking system, enforcing CBDC.

Best Wishes
R.

FROM: CNBC

'Crypto is dead in America,' says longtime bitcoin bull Chamath Palihapitiya

PUBLISHED MON, APR 24 20231:40 PM EDTUPDATED MON, APR 24 20232:59 PM EDT

Tech investor Chamath Palihapitiya, who previously claimed bitcoin has replaced gold and would eventually get to $200,000, now says "crypto is dead in America."

"The United States authorities have firmly pointed their guns at crypto," Palihapitiya said on the latest episode of the All-In podcast.

The SEC has ramped up its enforcement of the crypto industry, bearing down on companies and projects that were allegedly selling unregistered securities.

Tech investor Chamath Palihapitiya, who said two years ago that bitcoin has replaced gold and predicted the digital currency would climb to $200,000, has a much more cautious view on cryptocurrencies these days.

"Crypto is dead in America," Palihapitiya said in the latest episode of the All-In podcast.


Palihapitiya blamed crypto's demise largely on regulators, who have gotten much more aggressive in their pursuit of bad actors in the industry. Securities and Exchange Commission Chairman Gary Gensler has said crypto trading platforms should abide by strict U.S. securities laws.

In answering questions in front of lawmakers recently, Gensler connected the collapse of Silicon Valley Bank with the crypto industry.

"You had Gensler even blaming the banking crisis on crypto," Palihapitiya said. "The United States authorities have firmly pointed their guns at crypto."

The SEC has ramped up its enforcement of the crypto industry, bearing down on companies and projects that the regulator alleges were selling unregistered securities.

In February, the agency proposed rules that would change which crypto firms can custody customer assets. In March, the SEC issued crypto exchange Coinbase a Wells notice — typically one of the final steps before it files charges — warning the company that it identified potential violations of U.S. securities law. Last week, the SEC charged the crypto asset trading platform Bittrex and its ex-CEO with operating an unregistered exchange.

Coinbase CEO Brian Armstrong told CNBC that his company is preparing for a yearslong court battle with the commission, and is also considering relocating outside the U.S. if it doesn't get improved regulatory clarity. Meanwhile, Bittrex has already announced it would wind down U.S. operations specifically due to "continued regulatory uncertainty."

They "were probably the ones that were the most threatening to the establishment," said Palihapitiya, referring to crypto companies. "And they were the ones that, in fairness to the regulators, did push the boundaries more than any other sector of the startup economy."

"Now they're paying the price for that," he said. "The bill has come due for them."

Gensler faced similar criticism from House Republicans over the agency's crackdown on cryptocurrency platforms during four hours of congressional testimony last week.

"Regulation by enforcement is not sufficient nor sustainable," said House Financial Services Committee Chairman Rep. Patrick McHenry, R-N.C. "You're punishing digital asset firms for allegedly not adhering to the law when they don't know it will apply to them."

McHenry said the SEC's approach was "driving innovation overseas and endangering American competitiveness."

Gensler defended the agency's actions.

"We have a clear regulatory framework built up over 90 years," he said, adding that the exchanges "are "noncompliant generally, and they need to come into compliance."

Bitcoin, the largest cryptocurrency, reached a record of about $69,000 in November 2021, when the Federal Reserve's benchmark interest rate was near zero and investors were flooding into risk. The market changed in a hurry last year, as the Fed began steadily raising rates to fight inflation.

In early 2021, Palihapitiya predicted on CNBC that bitcoin would rise from $39,000 at the time to $100,000 and then up to $200,000.

"In what period, I don't know," he said. "Five years, 10 years, but it's going there. And the reason is because every time you see all of this stuff happening, it just reminds you that, wow, our leaders are not as trustworthy and reliable as they used to be."

Later in 2021, just before the peak, he said bitcoin had "effectively replaced gold."

Bitcoin is currently trading at just over $27,300, down 60% from its all-time high.

The volatility at the Bac table is easier to navigate.

May 8,2023

https://www.kitco.com/news/2023-05-08/Bitcoin-crashes-below-27-400-wiping-60-billion-from-the-crypto-market-cap.html

I just posted a link to a crypto scam but I just realized I had posted the same link a few months ago so I deleted the new post.  The old post was # 14 in this topic. Sorry

Another crypto story for those interested in crypto.  It's a Wall Street Journal article which has a pay wall, but if you click on the X in the upper right hand corner of the article, you may be able to read it.



https://www.wsj.com/finance/do-kwon-crypto-crash-0d0dc50b

Thx 8OR9. Interesting.
Another crypto story today (11/2/23) with link posted below. Sam BankmansFried was convicted today and faces up to 110 years total. My prediction is that he won't even receive 1/2 of the total time. He will likely get pardoned in a few years by an outgoing president.

Sam bankmans fried


Continued Success,

Another crypto embarrassing situation:

https://www.justice.gov/usao-sdny/pr/three-men-arrested-complex-bank-fraud-and-cryptocurrency-laundering-scheme

If anyone is still interested. here is another crypto news item:



https://www.cnn.com/2023/11/21/investing/binance-changpeng-zhao-treasury/index.html

Ha, u beat me to it 8OR9 as I was getting ready to post same exact link.

Cheers,

Not sure if anyone is still interested but here is another act in the crypto circus:


https://www.cnbc.com/2023/11/23/htx-heco-chain-crypto-hack-115-million-stolen-so-far.html

Looks like me and king fu read the same articles all the time.

I do not understand how anyone can "invest" in bitcoin, crypto...etc etc which is totally unregulated and it seems that every week there is a story where someone rips off tens of millions of dollars ...but it seems that the SEC may eventually authorize a crypto ETF where you can trade it just like a stock in a regulated market......I think that would attract a lot of traders since it would be regulated and you can be sure you can get your money out at any time.

Bit-Con(I mean bitcoin,aka BTC) hit $44,000 this week 12/7/23.

I do not own any bitcoin at present. I did buy some BITI(Short Bitcoin) @ 13.01 this past week. I will likely buy more if this (BITI) drops further as Im in the process of laying the groundwork to "lock-In" a snare (Kungfu Grip)    around Bitcoins' neck as it tanks and does all kinds of wild swings/gyrations going forward.

IF I owned bitcoin and in the (+) I would be concerned/ lock in additional profits while there is time left. Just my opinion.

Some interesting thoughts about Bitcoin(Not necessarily all my thoughts though I agree with most):

A Big-Time Bit-Con Pump Is Underway



Bitcoin $BTC has reached one of its most overbought levels in the last 3 years. It's also the most extended above the 200D moving average since the November 2021 peak.

In April 2021, Bloomberg made the bold prediction that #Bitcoin will surge above $400,000 by the end of year. Instead, we entered the longest BTC bear market on record, and tumbled under $16,000. Now, as the short-term bull trap grows, mainstream media is back at it, predicting $500,000, in an effort to lure in greedy retail investors for exit liquidity. The crash that follows is inevitable. Unfortunately too many investors are blinded by greed to secure profits. They will just repeat their same mistakes as last time.

When the media is bullish, you should be worried.

.04% of Bitcoin addresses own 62% of all BTC. But its totally decentralized and for the people



Continued Success,

It will get all time high within next 9 months.

QuoteNow, as the short-term bull trap grows, mainstream media is back at it, predicting $500,000, in an effort to lure in greedy retail investors for exit liquidity. The crash that follows is inevitable. Unfortunately too many investors are blinded by greed to secure profits. They will just repeat their same mistakes as last time.

Bingo.  Nailed it.

AD