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Title: Silver crashed twice at $50 why is bitcoin different? Post by: 1Pakis on March 07, 2013, 08:51:48 AM Don't know. I'm just asking ???
Title: Re: Silver crashed twice at $50 why is bitcoin different? Post by: hugolp on March 07, 2013, 08:57:36 AM Silver is a metal. Bitcoin is electronic.
Next. Title: Re: Silver crashed twice at $50 why is bitcoin different? Post by: 1Pakis on March 07, 2013, 12:55:29 PM And 50 is hard round number to break.
Metal didn't do it. Are encrypted bits harder than metal? Title: Re: Silver crashed twice at $50 why is bitcoin different? Post by: blablahblah on March 07, 2013, 01:27:23 PM Unlike "silver", the "Bitcoin" brand has not matured yet and still has plenty of room to be stretched.
Title: Re: Silver crashed twice at $50 why is bitcoin different? Post by: foggyb on March 07, 2013, 04:37:07 PM Silver's been around the block a time or two, and still hasn't cracked $50 since before 1980. It will crack $50 eventually, simply because of helicopter Ben.
Bitcoin however is going much higher than $50. Give it some adoption time and another block reward halving, and $50 will seem like a real bargain. Title: Re: Silver crashed twice at $50 why is bitcoin different? Post by: mr chong on March 07, 2013, 06:33:01 PM Bitcoin has uses that Silver does not, I am sure it is safe to say that most people on here especially those early adopters have access to Paypal and credit cards but there are MANY people out there who do not and probably never will which means they have a very hard time buying through the Internet.
Well bitcoin is a new way for those shut out of the traditional banking system to have a way to shop online, obviously there is a long way to go in terms of more businesses accepting Bitcoins but as they do more people will seek to acquire bitcoins which in turn will increase demand and most likely price. Is Bitcoin mostly an investment type of thing now? I think it is safe to say yes but that is starting to change and as it does more demand usually translates into higher values for Bitcoins. Title: Re: Silver crashed twice at $50 why is bitcoin different? Post by: debianlinux on March 07, 2013, 07:09:05 PM Before asking such a question it might behoove the OP to actually research silver's ATH. keyword: hunt brothers
Title: Re: Silver crashed twice at $50 why is bitcoin different? Post by: byronbb on March 07, 2013, 09:25:16 PM Silver is manipulated by central banks and their soldiers in the private sector.
Title: Re: Silver crashed twice at $50 why is bitcoin different? Post by: RyNinDaCleM on March 08, 2013, 04:37:43 AM Before asking such a question it might behoove the OP to actually research silver's ATH. keyword: hunt brothers The April 2011 high was higher than the Hunt bros. manipulated Pump 'n Dump of 1980. Neither of which broke $50 http://imageshack.us/a/img818/4895/silver40yrmonthly.png Title: Re: Silver crashed twice at $50 why is bitcoin different? Post by: debianlinux on March 08, 2013, 02:02:34 PM If you think April 2011 was not a manipulated pump and dump then you might want to research JP Morgan's relationship to paper silver.
The question being begged by OP is, "Why did Silver crash twice after nearing $50?". It should be clear that silver's highs were specifically related to P&D. Bear in mind that I am quite bullish on both Silver and Bitcoin; the upside potential of both is astounding and inevitable. However, I remain pragmatic on the fundamentals and the timelines. |
