Great debate Dominic. Well done for sticking to your guns and showing some passion. I didn't think you were rude at all. What you said needed saying. Peter Schiff is the classic doom-monger. Very negative and a bit of a know it all. The trouble with Bitcoin is it is like marmite. You either love it or hate it. Personally I think it is here to stay. I consider it to be digital gold. I invest in both Bitcoin and gold. Bitcoin has outperformed every other asset class since 2007 by a country mile. Even if you only invested 5% of your investable assets into it, it would increase your overall wealth dramatically. Very volatile though. Certainly not for widow and orphans.
That was a great debate Dominic and it's always fascinating to hear people talk about "what is money?'
For me, I think the real tipping point for Bitcoin and other crypto (coin/token) use cases will be when Web 3.0 becomes a firmly established presence in our lives. At the moment that still feels like a long way off but it could change rapidly.
Spot on Dominic - Gold and Bitcoin complement each other, something Charlie Morris has innovated on with his brilliant BOLD fund (c37% compound annual growth these past 2 years). Silver is a different matter and I suspect part at least of its long delay to catch up with Gold has been losing investors to Bitcoin.
Just finished watching and it was entertaining, informative and well done for sticking to your guns. As my mum used to say ‘there’s none so blind as will not see’. Thank you
Hi - I enjoy and closely follow you and Charlie on your gold analysis and recommendations … but I had a few red flags on your preferred bullion dealer, the Pure Gold Company (see below for feedback).
What would be great would be a couple of articles from you - if this is something you’re in a position to do …
First of all, different options on how to buy gold (&silver). You can still plug TPGC!
Secondly - and there isn’t much out there on this - how and where to trade Bitcoin? eg. there must be something better than the main exchanges with small transaction limits that in the UK require you to self-declare as a HNW (FCA rules) but are problematic. Coinbase seems to allow bank transfers to make purchases but I’ve read about the need to make multiple, repeated small PayPal transfers to cash out (these must look like you’re money laundering so no wonder crypto traders end up being de-banked!). Perhaps, point folks on help regarding the need to carefully record capital gains for UK tax as the exchanges report all this to HMRC (same for gold trading gains, not just crypto).
Or maybe the actual question should be: Where do people go to buy/sell one or more whole bitcoins?
As someone looking to ditch fiat investments (incl some of my pensions) I’ve subscribed to your Substack but this stuff just ain’t that obvious or easy for us newbies!
Cheers
On the Pure Gold Company … I’m guessing you have a close relationship with them, so rather than piss you off by criticising them then perhaps you could just feed this back to them:
I looked into the Pure Gold Company (because of your recommendation) with a view to buy some gold (sovereigns or Britannias for tax reasons, whatever was best value) but had red flags from the outset. Instead of a modern, internet-era business, the Pure Gold Company start with a web-page form asking for your personal information to be able to download 2 PDF brochures so immediately they have you on mailing lists.
The 2 brochures were next to useless in terms of tangible information - fairly slick productions but with little insightful information (unless you’re a complete novice about gold) and NOTHING on their relative competitiveness of pricing, market fees, storage fees, buy-back process, etc. By contrast, even the Royal Mint is totally transparent on all fees etc, with straight-forward online purchasing and buy-back. Instead, the Pure Gold Company push you to a telephone conversation (these days, wtf?) so another red flag to risk being caught in a pushy sales call. My gut instinct was to swerve them. Sorry!
It feels like we’re in a brand new world, and the deeper I burrow into the rabbit hole, the more I realise so much has been thought through and answered already by the OGs like yourself (eg. I’d already found a copy of your book, thanks!) It’s astonishing there isn’t wider understanding / engagement / acceptance of how so many fundamental things are changing in front of our eyes (new Internet money, old fiat’s failings, new reasons to trust the old gold standard).
BTC - Great idea originally... but now captured by the usual suspects.
Great debate Dominic. Well done for sticking to your guns and showing some passion. I didn't think you were rude at all. What you said needed saying. Peter Schiff is the classic doom-monger. Very negative and a bit of a know it all. The trouble with Bitcoin is it is like marmite. You either love it or hate it. Personally I think it is here to stay. I consider it to be digital gold. I invest in both Bitcoin and gold. Bitcoin has outperformed every other asset class since 2007 by a country mile. Even if you only invested 5% of your investable assets into it, it would increase your overall wealth dramatically. Very volatile though. Certainly not for widow and orphans.
Thanks Tony!
That was a great debate Dominic and it's always fascinating to hear people talk about "what is money?'
For me, I think the real tipping point for Bitcoin and other crypto (coin/token) use cases will be when Web 3.0 becomes a firmly established presence in our lives. At the moment that still feels like a long way off but it could change rapidly.
many thanks Richard
Here's to gold, BTC and whisky! We're going to need all the help we can get!
Indeed
Fab performance Dominic,thanks
Thanks Arthur
Spot on Dominic - Gold and Bitcoin complement each other, something Charlie Morris has innovated on with his brilliant BOLD fund (c37% compound annual growth these past 2 years). Silver is a different matter and I suspect part at least of its long delay to catch up with Gold has been losing investors to Bitcoin.
He's got it right, has Charlie
Makes a nice change to have a fiery debate. Peter's views are archaic, doubt that will change!
Just finished watching and it was entertaining, informative and well done for sticking to your guns. As my mum used to say ‘there’s none so blind as will not see’. Thank you
Thanks Graham!
Hi - I enjoy and closely follow you and Charlie on your gold analysis and recommendations … but I had a few red flags on your preferred bullion dealer, the Pure Gold Company (see below for feedback).
What would be great would be a couple of articles from you - if this is something you’re in a position to do …
First of all, different options on how to buy gold (&silver). You can still plug TPGC!
Secondly - and there isn’t much out there on this - how and where to trade Bitcoin? eg. there must be something better than the main exchanges with small transaction limits that in the UK require you to self-declare as a HNW (FCA rules) but are problematic. Coinbase seems to allow bank transfers to make purchases but I’ve read about the need to make multiple, repeated small PayPal transfers to cash out (these must look like you’re money laundering so no wonder crypto traders end up being de-banked!). Perhaps, point folks on help regarding the need to carefully record capital gains for UK tax as the exchanges report all this to HMRC (same for gold trading gains, not just crypto).
Or maybe the actual question should be: Where do people go to buy/sell one or more whole bitcoins?
As someone looking to ditch fiat investments (incl some of my pensions) I’ve subscribed to your Substack but this stuff just ain’t that obvious or easy for us newbies!
Cheers
On the Pure Gold Company … I’m guessing you have a close relationship with them, so rather than piss you off by criticising them then perhaps you could just feed this back to them:
I looked into the Pure Gold Company (because of your recommendation) with a view to buy some gold (sovereigns or Britannias for tax reasons, whatever was best value) but had red flags from the outset. Instead of a modern, internet-era business, the Pure Gold Company start with a web-page form asking for your personal information to be able to download 2 PDF brochures so immediately they have you on mailing lists.
The 2 brochures were next to useless in terms of tangible information - fairly slick productions but with little insightful information (unless you’re a complete novice about gold) and NOTHING on their relative competitiveness of pricing, market fees, storage fees, buy-back process, etc. By contrast, even the Royal Mint is totally transparent on all fees etc, with straight-forward online purchasing and buy-back. Instead, the Pure Gold Company push you to a telephone conversation (these days, wtf?) so another red flag to risk being caught in a pushy sales call. My gut instinct was to swerve them. Sorry!
Thanks for your comments. My reports on how to buy gold and how to buy bitcoin are below. Hopefully they will answer your questions:
https://www.theflyingfrisby.com/p/your-definitive-guide-to-buying-and
https://www.theflyingfrisby.com/p/how-to-buy-bitcoin-in-the-uk-and?r=1o6vt&utm_campaign=post&utm_medium=web#details
Thank you sir, very helpful and much appreciated!
It feels like we’re in a brand new world, and the deeper I burrow into the rabbit hole, the more I realise so much has been thought through and answered already by the OGs like yourself (eg. I’d already found a copy of your book, thanks!) It’s astonishing there isn’t wider understanding / engagement / acceptance of how so many fundamental things are changing in front of our eyes (new Internet money, old fiat’s failings, new reasons to trust the old gold standard).