Sorry, I just deleted that post and republished a new one because there was a typo in the meme image itself. I’ll check my wallet and send your two tips back to your comment above.
I see your comment isn't a freebie, so I added a comment fee to that tip as well. Sorry again, take the typo as proof this meme is OC / isn’t AI-generated :)
daily thru spending. i sell into gold or divert cash to gold when xmr is inflated (like now). Gold as low risk hard currency. Monero as high risk digital gold.
I share much the same view: when the price of cryptocurrency or stocks hits the level most people expect, it becomes the trigger for a mass sell-off... and that is precisely when a sharp drop is likely to occur.
right now XMR buys alot of gold. later that gold will buy much more xmr. and so we cycle. and fiat rewards divert to the "worst" in the XMR / GOLD pair
I hold a different view; Monero’s price cycles are very short, whereas gold’s cycles are far longer. If you sell your Monero to buy gold, what do you do when Monero drops to a favorable entry point? Gold might be falling at that time as well, leaving you with only two options: either sell the gold—which has already caused you a loss—to buy back into Monero, or hold onto the gold and wait for its price to rise, thereby missing the best opportunity to buy Monero. My strategy is to use no more than one-third of the proceeds from selling Monero to purchase gold; I leave the remaining two-thirds untouched, waiting to quickly buy back into Monero once it reaches a suitable price.
use weekly or monthy candle. Don't use 15 min or whatever.
If gold up / monero down - bro accumulate monero. Monero is higher risk than gold so you may be much better or much worse off overtime, but I'm guessing if you are here you have strong thesis on the future of unstoppable, private, internet magical money.
The whole lost money or whatever scenario is a feature of having way too short a time horizon.
If gold price is falling and monero isn't attractive bail to cash, but honestly i'd be probably buying more gold more monero at that point.
Tracking is also important. If you trade blind you might be incurring loses selling low and buying high, but take a longer view and trade when assets are breaking 200 MA or similar.
Think 20 trades lifetime (exclude weekly DCA). Get out of the every 5 minutes 24 hrs 7 days and lose to fees and go surfing or whatever.
Bottom line unless you are a full time finance bro, day trader .. keep it fucking simple.
You are absolutely right; gold is, of course, a hard asset that transcends all fiat currencies. After all, that is precisely why President Roosevelt confiscated all the gold held by American citizens back in the day. While gold performs impressively when it comes to preserving value, it falls short in terms of appreciation potential compared to assets like cryptocurrencies and stocks, which are subject to wild price swings. Of course, the risks associated with cryptocurrencies are also far greater than those of gold.👍🤝🥳
i just zapped it twice. one was a mistake. i saw it go through and now it just disappeared?
Sorry, I just deleted that post and republished a new one because there was a typo in the meme image itself. I’ll check my wallet and send your two tips back to your comment above.
I see your comment isn't a freebie, so I added a comment fee to that tip as well. Sorry again, take the typo as proof this meme is OC / isn’t AI-generated :)
daily thru spending. i sell into gold or divert cash to gold when xmr is inflated (like now). Gold as low risk hard currency. Monero as high risk digital gold.
I share much the same view: when the price of cryptocurrency or stocks hits the level most people expect, it becomes the trigger for a mass sell-off... and that is precisely when a sharp drop is likely to occur.
right now XMR buys alot of gold.
later that gold will buy much more xmr.
and so we cycle.
and fiat rewards divert to the "worst" in the XMR / GOLD pair
I hold a different view; Monero’s price cycles are very short, whereas gold’s cycles are far longer. If you sell your Monero to buy gold, what do you do when Monero drops to a favorable entry point? Gold might be falling at that time as well, leaving you with only two options: either sell the gold—which has already caused you a loss—to buy back into Monero, or hold onto the gold and wait for its price to rise, thereby missing the best opportunity to buy Monero. My strategy is to use no more than one-third of the proceeds from selling Monero to purchase gold; I leave the remaining two-thirds untouched, waiting to quickly buy back into Monero once it reaches a suitable price.
Let's agree a couple of things.
There are harder currencies than Euros, Pounds and Dollars. All things considered if you used oil currencies you keep more value.
If you store your money in Gold you would likely be better off that using hard currency (kuwait dollars etc) than if I save US cash under my mattress.
This chart informs the stronger asset: https://www.tradingview.com/chart/WXZn6nuM/?symbol=XMRUSD+%2F+XAUUSD
use weekly or monthy candle. Don't use 15 min or whatever.
If gold up / monero down - bro accumulate monero. Monero is higher risk than gold so you may be much better or much worse off overtime, but I'm guessing if you are here you have strong thesis on the future of unstoppable, private, internet magical money.
The whole lost money or whatever scenario is a feature of having way too short a time horizon.
If gold price is falling and monero isn't attractive bail to cash, but honestly i'd be probably buying more gold more monero at that point.
Tracking is also important. If you trade blind you might be incurring loses selling low and buying high, but take a longer view and trade when assets are breaking 200 MA or similar.
Think 20 trades lifetime (exclude weekly DCA). Get out of the every 5 minutes 24 hrs 7 days and lose to fees and go surfing or whatever.
Bottom line unless you are a full time finance bro, day trader .. keep it fucking simple.
You are absolutely right; gold is, of course, a hard asset that transcends all fiat currencies. After all, that is precisely why President Roosevelt confiscated all the gold held by American citizens back in the day. While gold performs impressively when it comes to preserving value, it falls short in terms of appreciation potential compared to assets like cryptocurrencies and stocks, which are subject to wild price swings. Of course, the risks associated with cryptocurrencies are also far greater than those of gold.👍🤝🥳