Posts

πŸ”΅ Gold vs Bitcoin: What I Learned Buying Silver & Gold with Bitcoin & Crypto – Was it worth it? Ep#1

avatar of @colintalkscrypto
25
@colintalkscrypto
Β·
0 views
Β·
2 min read

▢️ Watch on 3Speak


YouTube link:

● Timestamps and Topics: 02:14 The factors I researched to decide between gold and silver. 06:40 I explain the buying process online, including BitPay 17:36 Why is merchant price different than the price you can sell for (spot price)? How is this bullion premium calculated? 21:15 Summary and final thoughts

We compare the market cap of bitcoin versus market cap of gold and silver. The world has had thousands of years to acquire gold and silver. There is SO much more room for growth in Bitcoin with its lower market cap and superior qualities and functionality.

● Gold & Silver information during first week of April 2020: Silver: 1 oz Silver Coin $20.8 Sell Price: $14.00 Bullion Premium (Markup): 32.7% 10 oz Silver Bar $200 Sell Price: $140 Bullion Premium (Markup): 30.0% 100 oz Silver Bar $1,984 Sell Price: $1,442 Bullion Premium (Markup): 27.3%

Gold: 1 oz Gold Bar $1,775 Sell Price: $1,590 Bullion Premium (Markup): 10.4% 10 oz Gold Bar $17,765 Sell Price: $16,095 Bullion Premium (Markup): 9.4%

● Visual Info about Bullion Premiums: https://www.visualcapitalist.com/how-silver-and-gold-bullion-premiums-calculated/ https://www.tradingview.com/symbols/XAUUSD/ https://www.tradingview.com/symbols/XAGUSD/ https://www.xe.com/currencycharts/?from=XBT&to=XAU&view=2Y https://www.xe.com/currencycharts/?from=XBT&to=XAG&view=2Y https://www.tradingview.com/symbols/spread/BTCE%3ABTCUSD%2FFX%3AXAUUSD/ https://www.kitco.com/charts/livesilver.html https://www.kitco.com/charts/livegold.html https://coinmarketcap.com/currencies/bitcoin/


Examples:

  • I buy $10,000 worth of silver. Immediately afterward, I can only sell it for $7,400 due to the bullion premium on the original purchase.

  • I buy $10,000 worth of gold. Immediately afterward, I can only sell it for $9,100 due to the bullion premium on the original purchase.

  • I buy $10,000 worth of Bitcoin. Immediately afterward, I can sell it for $10,000 due to NO bullion premium on the original purchase.

The bullion premium is the EXTRA merchant price associated with an antiquated, physical asset.Even during the best market conditions, you’re going to lose about 4%-16% on the markup, which is still way higher than the exchange fee for the purchase/sale of Bitcoin which can be lower than 0.5%.To make matters worse, during times of economic recession, the divergence of the bullion price premium can increase.


Disclaimer: This video is not financial or investment advice. Do not buy, sell or trade cryptocurrency, or make any financial decisions based on the content of this video. I am merely sharing what I have done and what I would do in various situations as an educational tool only.

#gold #silver #bitcoin #btc #crypto #cryptocurrency #news #blockchain #tokens #coins #price

CREDIT: Earth Spin Animation - Β©kNews.space - all rights reserved CREDIT: Subscribe Button by MrNumber112 https:// youtu . be/Fps5vWgKdl0 CREDIT: Greenscreens by JanTube Editing


⚑ ColinTalksCrypto.com ⚑

πŸ’œ EOS donation address/account name: colintcrypto πŸ’œ Ethereum (ETH) address: 0x5b90414Aeb115f910698304E63C2C3092739c9c0 πŸ’œ Bitcoin Cash (BCH) address: qpzc3apy9s8x2qtlqxxgnalfxtzgnkg5nq352w9k2t πŸ’œ Bitcoin (BTC) address: 1Da6ivdriJpzqnLkNEa1XnKk5nGCiyRZrF

πŸ’— YouTube: http://www.youtube.com/ColinTalksCrypto πŸ’— Twitter: https://twitter.com/ColinTCrypto (@ColinTCrypto) πŸ’— Facebook: http://fb.me/ColinTalksCryptocurrency πŸ’— Instagram: https://www.instagram.com/colintalkscrypto/ πŸ’— Steemit: https://steemit.com/@colintalkscrypto πŸ’— Uptrennd channel: https://www.uptrennd.com/user/colintalkscrypto πŸ’— BitChute channel: https://www.bitchute.com/channel/colintalkscrypto/ πŸ’— D.Tube channel: https://d.tube/#!/c/colintalkscrypto πŸ’— 3Speak channel: https://3speak.online/user/colintalkscrypto πŸ’— BitTubers channel: https://bittubers.com/profile/ColinTalksCrypto πŸ’— LBRY.TV channel: https://lbry.tv/@colintalkscrypto πŸ’— Read.Cash channel: https://read.cash/@ColinTalksCrypto πŸ’— SteemPeak channel: https://steempeak.com/@colintalkscrypto

T-shirts and swag: https://teespring.com/stores/colin-talks-crypto


▢️ 3Speak