Silver or Bitcoin? You Think You Know?

Silver or Bitcoin? Do you think you know the answer while everyone else is wrong?

We did a video on silver investing a few weeks ago. YouTube recently indexed it as the first page in Google search and all of a sudden we had a ton of traffic and comments. And thanks to everyone who commented always appreciated.

In the video I stated: 1. I like silver. I own silver. I think everyone should own some. I then cited multiple reasons why you should buy silver, such as quantitative easing, 22 trillion in debt, longest bull market in history, hyperinflation and more.
So I am a silver investor, and suggested people buy silver.

But I also quoted some "statistics", actual numbers that showed how silver was affected by previous recessions since 1976. So what actually happened to silver since back then, during every recession. Spoiler alert, it mostly went down. And these weren't my numbers, I took them from the good people at Goldsilver.com, probably a website most metals bugs subscribe to.
The response was fast and furious. We had a lot of people commenting who were angry.
Listen - If you are emotionally impacted by hearing a small counter argument to your investment strategy you are no longer investing you are gambling. Let me ask you this, if your goal is to make the absolutely best investment decisions, do you not want to hear both sides of the story and have all the data you can gather?

Investors can get hyper emotional about their investing, and closed off to hear the counter-arguments, even when they are statistics. Thats dangerous. It's an investment. You need to know the good AND the bad to make an educated decision. That's my job, telling people the good and the bad. You need to explore counter-arguments to your position to make a quality decision. And it's the same with Bitcoin, the same with franchises, the same with sports cards and real estate. The problem begins when we see what we want to see and continue with confirmation bias accepting information only from people who reinforce our own beliefs. It is this flaw of the human mind that can get us into trouble.

So while I invest in silver, I also want to see why it might not be a good investment. I want to be aware of how Bitcoin might collapse, or how it might go to 1 million. And most importantly I want to be humble enough to never be 100% certain of anything and think that I am the only person in the world who has figured out the truth.

If you invested $5,000 in Bitcoin in the early days you would have about $430,000,0000 today. Silver about $12,000. So we were wrong. Say it, it feels good, we were wrong on that one we missed the boat while other people are driving their lambos. And regardless whether bitcoin is a ponzi, if it is banished tomorrow, if it turns into another Tulip bubble, we missed that boat. And remember this, people made money in the tulip craze if they got in at the right time. Timing is everything.

In that video we also covered the fact that in a real modern world collapse scenario, people in Venezuela started using cryptocurrency. It's just easier to use than metals. Let me ask you this, in the next economic collapse, where so many transactions happen online today do you really believe you are going to be mailing 15.29 grams of silver to amazon or ebay sellers to buy stuff?
It makes no difference to me how you invest. But please ask yourself this question. In the next economic downturn, that may actually not happen in our lifetimes, or be as severe as some people expect, if your neighbor is able to buy things for their family just because they diversified and bought $300 of Bitcoin, and you sit there on a stack of silver that nobody wants to accept, how would that make you feel.

Maybe we are right. Maybe silver shoots to the moon. But I will never be so arrogant to suggest I know everything, I should invest everything I have in silver, and I know exactly how the future will play out. Especially if I never, ever looked at any counter arguments, I only looked at information that validated my position.

If you want to make smart decisions in life, not only investing but anything, explore the counter arguments. Look at both sides at why the decisions you are making might not be a good choice. Once you have both sides, now make the decision. Guys I think you are right, I literally moved from the city I am so spooked by what I think is coming. I love it here anyway but I am completely aware that I might be wrong. That the future may not play out the way I expect.

The world is filled with people who went all in on real estate, silver, stocks, because they were convinced of their own infallibility. at the end of the day all we can do is be informed not biased, diversify as much as possible, don't keep all your eggs in one basket and remain humble enough to explore all sides of the story, not just that which reinforces your existing beliefs.

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