Bitcoin: A Perspective (from Peter Schiff)

 Recent Peter Schiff's commentary on Bitcoin,

"Losing the private key to your Bitcoin wallet is not the same thing as forgetting where you buried your gold. When gold is lost the world loses something -- the potential use of that gold as a metal. When Bitcoin is lost the world loses nothing. Gold is wealth. Bitcoin is not."

"The fact that an ounce of #gold can be divided into grams does not make it any less scarce. That's because its the weight of gold that's scarce relative to the demand to use it as a metal. Bitcoin weighs nothing and is used for nothing. So, dividing Bitcoin reduces its scarcity."

"The reason a one-ounce gold coin is twice as valuable as a half-ounce gold coin is that you can make twice as much jewelry with an ounce of gold as you can with a half ounce. Since you can't make anything out of a Bitcoin, a full Bitcoin has no more value than half a Bitcoin."

Investing: Bear Markets, Apple, Tencent

 Here are the links for the latest media appearances:

• Jim Rogers’ tip for new investors: Don't let hot tips ruin you
• ‘If I had Apple and Tencent, I would have sold them by now,’ says Jim Rogers
• Jim Rogers predicts the next bear market will be the worst in over 70 years

Have a great trading day!

Bitcoin Looks Like A Bubble

Many cryptocurrencies have disappeared and gone to zero.

We all watch Bitcoin but there are many others that have disappeared completely. 

I do not know who is buying Bitcoin. It looks to me like a bubble. I have seen many bubbles in my life.

Every Dollar A Young Man Saves

"I came into the market with $600 in 1968 and left in 1980 with millions. I was convinced, and still am, that every dollar a young man saves, properly invested, will return him 20 over the course of his life." 

-- Jim Rogers

Gold & Silver Will Eventually Go Much Higher!

I'm waiting for the correction. 

I don't know how long that correction will last, a month or a year. 

I will buy more silver, because it is down 50 per cent from highs, gold is down 10 per cent or something. 

I will buy a lot of silver and gold sometime later, because their prices would eventually go much higher.

Investing: Do Not Listen To Hot Tips

One should only invest in what s/he knows about.

Do not listen to hot tips, or me.

Everybody wants hot tips.

Those would bankrupt you, ruin you.

The way to be successful as an investor is to do nothing until you yourself know it is going to work and is backed by your own research.

Do Not Doubt Yourself

"I remember when I first started trading in 83 with a few grand saved and not a clue what I was doing. I don't know how, but I never doubted I would be successful. And you shouldn't doubt yourself. Why? Because every person can do much more than they think they can. My guarantee."

-- Mark Minervini, Momentum stocks trader profiled in Market Wizards Series