VKurtB Posted July 4, 2022 Share Posted July 4, 2022 https://medium.com/disruptive-innovation-journal/12-8-trillion-in-gold-discovered-in-uganda-what-this-means-for-bitcoin-c3e2f8af0abf#:~:text=Last week Uganda announced a discovery of a,obviously increase the global supply of gold substantially. Could gold be in for a price crash? Link to comment Share on other sites More sharing options...
Greenstang Posted July 4, 2022 Share Posted July 4, 2022 Looks like an ad for Bitcoin. "Buy now before the gold market gets flooded" Link to comment Share on other sites More sharing options...
Popular Post World Colonial Posted July 4, 2022 Popular Post Share Posted July 4, 2022 On 7/3/2022 at 9:00 PM, Greenstang said: Looks like an ad for Bitcoin. "Buy now before the gold market gets flooded" Agree. The other point is that it still has to be removed from the ground which isn't free. Second, the article is using a false dilemma fallacy argument. BTC is not a legitimate alternative to gold. It's literally nothing inflated to absurd heights due to mania psychology. What the author didn't mention is that it is entirely possible (and far more likely) for BTC to crash to zero (or near it) even if gold collapses. This is what I would expect before believing this marketing piece masquerading as an article. Cat Bath, Henri Charriere, AdamWL and 1 other 4 Link to comment Share on other sites More sharing options...
Henri Charriere Posted July 4, 2022 Share Posted July 4, 2022 On 7/3/2022 at 8:28 PM, VKurtB said: Could gold be in for a price crash? Thanks, @World Colonial, for speaking for me. Consider the source. Now, to paraphrase Virginia O'Hanlon, "Papa says, 'if you see it in The New York [Times], it's so.' (Zimbabwe's interest in gold--in view of its long running inflation--is credible and perfectly understandable.) Link to comment Share on other sites More sharing options...
VKurtB Posted July 4, 2022 Author Share Posted July 4, 2022 (edited) Apparently Uganda’s President is putting this idea forward. Even the Assembly wants proof. The prevailing opinion is that gold is the result of heavy metal bombardment in meteoric form as the earth’s crust was cooling, from a nearby nova, so highly concentrated deposits should be the norm. But this kind of number is a more than a doubling of all previous deposits. There are other sources reporting/(parroting?) the story too. Edited July 4, 2022 by VKurtB Henri Charriere 1 Link to comment Share on other sites More sharing options...
VKurtB Posted July 4, 2022 Author Share Posted July 4, 2022 MSN and Reuters also are reporting the story. Henri Charriere 1 Link to comment Share on other sites More sharing options...
zadok Posted July 4, 2022 Share Posted July 4, 2022 On 7/3/2022 at 9:37 PM, Quintus Arrius said: Thanks, @World Colonial, for speaking for me. Consider the source. Now, to paraphrase Virginia O'Hanlon, "Papa says, 'if you see it in The New York [Times], it's so.' (Zimbabwe's interest in gold--in view of its long running inflation--is credible and perfectly understandable.) ...its not even close to christmas yet.... Link to comment Share on other sites More sharing options...
VKurtB Posted July 4, 2022 Author Share Posted July 4, 2022 (edited) Keep in mind- Uganda ain’t Zimbabwe. They’re not even particularly close. Uganda is bisected by the Equator and Zimbabwe is way south. Edited July 4, 2022 by VKurtB Link to comment Share on other sites More sharing options...
zadok Posted July 4, 2022 Share Posted July 4, 2022 On 7/3/2022 at 9:54 PM, VKurtB said: Apparently Uganda’s President is putting this idea forward. Even the Assembly wants proof. The prevailing opinion is that gold is the result of heavy metal bombardment in meteoric form as the earth’s crust was cooling, from a nearby nova, so highly concentrated deposits should be the norm. But this kind of number is a more than a doubling of all previous deposits. There are other sources reporting/(parroting?) the story too. ...n here i was thinking that the alchemists made all the gold...who knew.... Hoghead515 1 Link to comment Share on other sites More sharing options...
VKurtB Posted July 4, 2022 Author Share Posted July 4, 2022 On 7/3/2022 at 10:30 PM, zadok said: ...n here i was thinking that the alchemists made all the gold...who knew.... … or possibly the very colorful imagination of a Ugandan President. Hoghead515 1 Link to comment Share on other sites More sharing options...
The Neophyte Numismatist Posted July 4, 2022 Share Posted July 4, 2022 I would LOVE to start a gold collection! Link to comment Share on other sites More sharing options...
VKurtB Posted July 4, 2022 Author Share Posted July 4, 2022 On 7/3/2022 at 10:52 PM, The Neophyte Numismatist said: I would LOVE to start a gold collection! We’ll catch a flight to Uganda from the U.K. Link to comment Share on other sites More sharing options...
The Neophyte Numismatist Posted July 4, 2022 Share Posted July 4, 2022 I like your style. Very Indiana Jones. Link to comment Share on other sites More sharing options...
Henri Charriere Posted July 4, 2022 Share Posted July 4, 2022 On 7/3/2022 at 11:32 PM, VKurtB said: … or possibly the very colorful imagination of a Ugandan President. Which one? Idi Amin? Link to comment Share on other sites More sharing options...
VKurtB Posted July 4, 2022 Author Share Posted July 4, 2022 (edited) On 7/3/2022 at 11:28 PM, Quintus Arrius said: Which one? Idi Amin? The current one. Yoweri Kaguta Museveni Tibuhaburwa. Edited July 4, 2022 by VKurtB Henri Charriere 1 Link to comment Share on other sites More sharing options...
VKurtB Posted July 4, 2022 Author Share Posted July 4, 2022 On 7/3/2022 at 11:20 PM, The Neophyte Numismatist said: I like your style. Very Indiana Jones. I even have the hat. Link to comment Share on other sites More sharing options...
Henri Charriere Posted July 4, 2022 Share Posted July 4, 2022 On 7/4/2022 at 12:55 AM, VKurtB said: The current one. Yoweri Kaguta Museveni Tibuhaburwa. [Sorry, that was a joke. He's been long gone. If memory serves, the last time Uganda was big news was during the raid on Entebbe (coincidentally on our bicentennial observance) Happy 4th!] Link to comment Share on other sites More sharing options...
zadok Posted July 4, 2022 Share Posted July 4, 2022 On 7/4/2022 at 10:37 AM, Quintus Arrius said: [Sorry, that was a joke. He's been long gone. If memory serves, the last time Uganda was big news was during the raid on Entebbe (coincidentally on our bicentennial observance) Happy 4th!] ...parens n brackets, good job....now if u could only work in a pair of braces then we would have something.... Link to comment Share on other sites More sharing options...
VKurtB Posted July 4, 2022 Author Share Posted July 4, 2022 On 7/4/2022 at 11:51 AM, zadok said: ...parens n brackets, good job....now if u could only work in a pair of braces then we would have something.... }{ Like hourglasses? Link to comment Share on other sites More sharing options...
