Red Lake Madsen Mine Ltd LRTNF

cryptos

[arh0070]

I have been a gold bug for 30 yrs plus .My step son is a computer programmer and I listened to him last May when he said buy Bitcoin and Ethereum which I did .Whilst there are still skeptics out there It means to me that the Cryptos are not yet at thier top.
There is no question that the younger generation is investing heavily into Bitcoin /Ethereum and alt coins instead of gold .A new banking /trading system is rapidly being set up .
I also own PGM which I think is a good long term investment .Unfortunately the gold markets as happened Friday are subject to major speculation by traders at big banks .
Any asset,s price is a function of demand .Gold is basically worthless if nobody wants to buy it ,just like the Mona lisa or whatever ,
I have been switching a small portion of my assets into cryptos ,wish I had switched more ,it is without question a crazy world ,to classify the crypto world as a Ponzi scheme is total nonesense .

[steel9696]

I became a bitcoin believer when paypal,Amazon,Square got big into buying btc,you can even get a bitcoin backed Visa card now..hard to ignore the money that these cryptomining companies are making huge profits...On Friday Hut8 mining was up 60% on the day.,cost of mining a bitcoin 6500$ current btc price 40k

[goldanalyst]

It is a Ponzi Scheme....exactly that...and many will find that out including you and your son....again what is it intrinic value? Your son might not have been around during the dot.com bubble but you probably were and clearly have learned nothing....I bet you're hoping that your exit timing will be better than most once the bubble bursts....probably won't be though....

[Welchspring]

The problem is many who are investing don't recall the dot.com bubble. At that time stocks when through the roof with major increases in price. Some stocks were 200-300 times their value. Portifiio managers, etc. were promoting companies with no value but people continued buying these stocks. Then when the bubble burst people lost it all. When I look at all the dot.com promotional components

[Welchspring]

To make my point on the price of gold read Gary Wagner article on Dazed and Confused. https://www.kitco.com/commentaries/2021-01-08/Today-s-sharp-decline-in-gold-leaves-many-traders-Dazed-and-Confused.html 

[steel9696]

I agree gold should be way over 2300$ but the only answer is bitcoin is slowly demonetizing gold..Bitcoin is behaving the way gold used to.

[Thales42]

Bitcom  does not have the paper derivatives that kill PM price rise. Bitcom is the valve to prevent inflation. Bitcom, although not a creation of central banks, is becoming one of the key tools of the central banks to keep interest rates low by shifting excess money to Bitcom. Central banks love Bitcom.

[Welchspring]

If central banks are investing in Biticon that is very very scarey. Several years ago - 60s, 70s and even the early 80s banks were regulated and only allowed to invest in tripe A bonds, treasury bills & high secure conversative blue chip stocks and taking on loans.mortgages that were secure. Since mid-80s and beyond banks have gotten more speculative in what they invest in and taking on loans

[Welchspring]

I think reality is starting to set in. Biticon is dropping like a rock - down 2,500 at this point.

[Scanner454]

 down 4100 hundred at 9.38

[Welchspring]

Biticon down $5000 at 11:00 PST

[Scanner454]

are gold buyers going to start to show up as well as market sediment?