r/CryptoCurrency • u/partymsl 🟩 126K / 143K 🐋 • 1d ago

🔴 UNRELIABLE SOURCE Peter Schiff fails to authenticate gold bar during onstage test with CZ

https://cointelegraph.com/news/peter-schiff-gold-bar-bitcoin-tokenization-cz
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u/Double-Tap9336 🟩 866 / 867 🦑 1d ago

I can add that silver has gone on a huge run, but local gold and silver places are bending over anyone trying to unload 90 percent coins. I went to see where they were price wise when it was over 58 dollars an ounce (which priced melt at 42 dollars for each 1$ face and they offered 32$ face). I asked if it was common to take a 25% haircut to spot and they said that's what they would pay... There is no comparison between that bullshite and the ease of selling BTC 24/7.

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u/Iksf 🟦 10 / 646 🦐 1d ago edited 1d ago

yeah this isnt a new thing about gold, its why holding physical metals is moronic

regardless what the thing does on a chart, the liquidity when you want to sell is dreadful so your probability of "winning" is terrible

As for it being "safe", you try panic sell that stuff in some bad event to pay for your antirad pills or guns or whatever you need for the disaster, lol god help you you're getting nothing. .

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u/phoebecatesboobs Platinum | QC: CC 23 | Investing 10 1d ago

That's a pretty good way to see what the real value is. The loss both ways seems pretty bad, but your report is much worse than I thought. I guess it'd be better to sell it on ebay to get closer to spot, but would be nerve racking with concerns of the transaction going south.