A friend and viewer ask this question on Facebook-
"Why Do Gold and Silver people hate on crypto? I just doubled my money" It really got me thinking and this was my reply. Maybe it can spark a respectful conversation here- What do you all think about crypto currencies? Are they good investments? Are they sound money? Here was my response; I want to hear yours. We should be able to talk about these things and come up with some good nuggets of truth.
lol so first off, congrats on doubling your investment. That's awesome
This post got me thinking. I know quite a few crypto folks and it's a fine line for me to walk in not offending friends, so while this may be my personal answer, please know this is an over explanation that I have for crypto in general and in no way is a personal repudiation or judging of you. That is the trouble with social media when two people see things from different angles. I will take your post as an honest question to which I scrolled past and felt like giving an honest and heartfelt reply... Blessings and hugs!-
I believe I can answer for some of the gold and silver bugs—we are in unprecidented times financially. Never before in history has there been this ability to print money out of thin air. Even with the stock market, in the beginning, there had to be a rise in production for the value of the stock to go up. I think we all know that the stock market is speculation. I remember in the dot-com boom my grandma lost 1/3 of all her savings in stocks. I know some who made and lost millions. In 2008, our grandmother died, and her portfolio needed to be liquidated. She had much of her wealth in GM stock, which tanked. It eventually went down to zero. All gone. That was money my mom and uncle needed to live off of but it was money down the toilet. Gold and silver might ebb and flow, but their value and use as money are universal and stand the test of what real money is.
Crypto is highly volitile and speculative. Nothing is added to show a gain in value. It's more of a ponzi. I know a lot of people who are into crypto, and in the short term, it seems that some are doing well. However, when you look at Sam Bankman Fried, who was crypto's golden boy, was exposed for his scam, a lot of people lost a lot of money. I have a personal friend that was really doing well financially and was living an upper-class life. He lost everything and went crazy. FTX seemed legit, he had the mainstream finance world calling him a godlike creature, but in reality it was all a scam. Then there is the angle that the CIA funded crypto currencies to get us all used to them—i.e., get the red pilled community behind them—to bring about CBDCs. Catherine Austin Fitts talks about this all the time.
I personally am not like other gold and silver 'investors.' I don't see gold and silver as an investment. For the first 250 yrs of this nation, $1 was $1 with little variation. This is what is known as sound money. Sound money does not fluctuate. If you were in crypto in 2022 you were swimming with sharks. Unlike the stock market, there is nothing tangible (like toilet paper or laundry detergent) behind crypto. It's all kind of nitch finance world that goes up and down on a whim.
From 2022: "Overall, the crypto market has lost a little over $2 trillion in 2022 and popular digital coins such as bitcoin have fallen far below their 2021 highs.
Here’s how much the value of seven popular cryptocurrencies changed in 2022 as of Dec. 22, per CNBC’s calculations.
Terra: -100%
Solana: -93%
AMP: -93%
Cardano: -80%
Ether: -67%
Bitcoin: -63%
Dogecoin: -55%
The guy who originally came pushed Bitcoin says that crypto has been hijacked by investors. It was created not to go up and down in value but to act as a stable means of alternative monetary transactions.
Who really came up with all of these weird rules around bitcoin and where they would be "found" in the online universe? It's all so weird and well, cryptic. So much secrecy and so much energy used to "mine" these hidden gems-
Creating Bitcoin consumes 166.75 terawatt-hours of electricity each year, more than is used by the Netherlands or the Philippines.
Worldwide, bitcoin mining uses more electricity than Poland, a nation of 36.8 million people. That is insane! It's certainly not environmentally friendly. That being said, we are all using technology in some way. I guess the real question is, is there somewhere where we need to draw the line? Something that feels wrong and excessive? Bitcoin mining feels that way to me as someone who turns lights out when I leave the room lol.
To sum things up, and I know this is a long comment, I believe it's more a posture of the heart. What's your goal? A quick investment turn around? Long-term security? We are 35 Trillion in debt because the fiat just isn't real. It's fake, made up fairy tale money, and the system will come crashing down at some point. Pray about it, make decisions based on trusting God and being led by Him, which is all any of us can do. If the Lord is telling you to buy crypto, maybe it's for a reason.
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