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He looks quite old, so perhaps his memory is not so good. :D Over the past decade or so, Gold and silver have been mediocre investments compared to virtually everything, and absolutely rubbish compared to Bitcoin.

Not true. Gold ETFs were launched in the latter stages of the Gold bull market which started in 2000. Gold peaked in 2011, and then entered a multi-year bear market. Anyone who bought Gold ETFs would have got a very poor return over the next decade. The Gold bull market only resumed about 4...

The chart for the past 6 months doesn't look particularly healthy, with a succession of lower highs and lower lows. But I guess the trend could turn around at some point.

If you read the first sentence of my original post, I never claimed to be revealing "the obvious". I just said these were my takeaways from this thread. However, I would still maintain that it's not obvious to most that trading is gambling, otherwise they wouldn't be doing what they are doing...

They can't be that obvious if you look at the way most people trade; relying on indicators, patterns, waves and other BS, and thinking that money management is the key to success.

FWIW, here are my takeaways from this thread. 1) Trading is gambling. It took me a long time to accept this because everything I'd previously been exposed to (books, articles, forums), and conditioned to believe, portrayed trading as something more scientific/technical with rules, rather than...

(Gold currently ~ $2500; Silver ~ $30) If Gold continues its current ascent then Silver may be due a catch-up. A Gold-Silver ratio of below 60 could be on the cards, which would put Silver within striking distance of taking out its previous ATH of $50...

With a market cap of £1.3tn, Bitcoin is a fraction of the overall size of the equity market, so I would have thought any effect would be marginal. Apple alone is twice the size of bitcoin. Might be a different story is it ever reaches the oft touted $1m (market cap $18tn). The capital would...

I'm sure I can hold my nose until it reaches $1m. :D

Although I made a small investment, I've never been very comfortable with it. It's always seemed like pure speculation to me. The electricity consumption doesn't sit well either. Trump becoming a fanboy is a bit of a turn-off too, although he's probably only done it to grab votes.

Yes but we also get the benefit of somewhere nice to live. Some things in life are more important than money. :) (The house is paid off - mortgage free.) I invested £6k in BTC, now worth £35k. I'm not complaining but it's not life changing......................yet.

Yes it's still insignificant net worth wise because other investments have done well too, and our biggest asset (our house) has nearly doubled in value since then. Of course, if it does go to $1M then that might be a different story...

Not $50 million? :D

No but I'm probably unusual investing such an insignificant amount. Anyway, getting back to my reply to orbit23, I was just curious as to how Bitcoin ruined his/her life. Was it due to trading/investment losses, or something else?

It probably goes something like this. I'm going to hodl come what may. That's always made money in the long run. It's falling but I'll hold my nerve. It always comes back. I'm down 30% but that's ok. (Doubts start to creep in) Now it's down 50%. 60%! Maybe this time is different and it won't...

hodl - hold on for dire loss Far more common than the other hodl I imagine.

How did Bitcoin ruin your life? Did you lose a lot trading/hodling? A life changing amount? I've been there (not with Bitcoin) and it's a very hard hole to climb out of, psychologically as well as financially.

Without the prospect of ENGU*, the appeal of Bitcoin way start to wane. But who knows, maybe it's still got enough fuel in the tank for another moon shot. * Exponential Number Goes Up

I confidently predict it's going to... $50k or $40k or $30k or $60k or $70k or $80k or even $100k. You heard it here first. :D

No doubt it's been stellar for a decade or so. (But, as they say, past performance is no guarantee of future results.) Are there other (non-cypto) assets out there that have a better prospect of doubling/tripling/quadrupling over the next few years? Or is it heresy to even suggest that another...