I think "buy high, sell low" deserves to be maligned at every opportunity; one should never do that unless out sheer desperation to raise liquid capital. What are you trying to say here?
Only that putting money into gold is not a very likely way for someone to "wipe themselves out" financially unless they make some very bad moves subsequently out of desperation or panic. It was in reponse to this quote:
I personally believe that people that buy into things like bitcoin and gold are destined for the looney bin or early divorce when they wipe themselves out, so I may not take your response seriously and you may be made fun of.
If gold prices tank, it's pretty safe to just buy more because it's virtually guaranteed they will recover eventually. Bitcoin prices on the other hand could go down and never really come back up.