Bitcoin Forum

Economy => Speculation => Topic started by: smoothie on February 19, 2013, 07:23:20 PM



Title: BITCOIN and SILVER PARITY REACHED!
Post by: smoothie on February 19, 2013, 07:23:20 PM
 ;D ;D ;D


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: solex on February 19, 2013, 07:24:32 PM
In pictures:

5


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: Bit_Happy on February 19, 2013, 07:32:38 PM
Go for the gold next.


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: ArticMine on February 19, 2013, 07:45:25 PM
Parity with one pound (16 oz) of silver. That would mean BTC wiping out centuries of depreciation in the oldest currency the Pound Sterling (GBP) in a matter of a few years. Or to put it in another way parity with what a GBP used to be worth.


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: Richy_T on February 19, 2013, 08:24:40 PM
Parity with one pound (16 oz) of silver. That would mean BTC wiping out centuries of depreciation in the oldest currency the Pound Sterling (GBP) in a matter of a few years. Or to put it in another way parity with what a GBP used to be worth.

http://us.123rf.com/400wm/400/400/fberti/fberti1104/fberti110400066/9221707-twenty-pounds-toilet-paper-3d-illustration.jpg


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: totaleclipseofthebank on February 19, 2013, 11:39:41 PM
we are at parity with an ounce of silver, not a whole pound

...yet


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: dree12 on February 20, 2013, 12:33:18 AM
Parity with one pound (16 oz) of silver. That would mean BTC wiping out centuries of depreciation in the oldest currency the Pound Sterling (GBP) in a matter of a few years. Or to put it in another way parity with what a GBP used to be worth.

We only just reached parity with what a USD used to be worth. Don't preempt, it's bad for your sanity.


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: Cluster2k on February 20, 2013, 02:03:14 AM
It truly is a great day.  Bitcoin has reached parity in a few short years with something that's been considered money for hundreds, if not thousands of years.


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: Severian on February 20, 2013, 02:36:43 AM
Parity with one pound (16 oz) of silver.

One troy pound of silver is composed of 12 troy oz. Each troy oz. has 480 grains, as opposed to the "normal" ounce of 437.5 grains.


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: fcmatt on February 20, 2013, 03:57:19 AM
And now both are over priced! :-)
I like silver at 10 dollars an ounce.


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: mb300sd on February 20, 2013, 04:06:12 AM
And now both are over priced! :-)
I like silver at 10 dollars an ounce.

So would I, want to sell me some at that price? ;D


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: dree12 on February 20, 2013, 04:21:58 AM
Parity with one pound (16 oz) of silver.

One troy pound of silver is composed of 12 troy oz. Each troy oz. has 480 grains, as opposed to the "normal" ounce of 437.5 grains.

The British pound was not a Troy pound. Rather, it was a Tower pound, which measures 12 Tower ounces and weighs slightly less than a Troy pound.


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: TradeFortress 🏕 on February 20, 2013, 06:13:52 AM
Can't wait for the gold parity..


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: Dalkore on February 20, 2013, 05:39:44 PM
It is interesting to think that BTC1 is worth the same amount as an ounce of silver.  Different types of work went into each items production.


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: molecular on February 20, 2013, 06:11:50 PM
It is interesting to think that BTC1 is worth the same amount as an ounce of silver.  Different types of work went into each items production.

And yet, some just can't make the connection:

Gold and Silver are worth what it is because of the time, energy, money and capital that goes into producing that goes into creating it.
...
Good luck trying to setup your computer and actually try mining these things (bitcoins), I think it takes years for you to mine one or two or five or whatever.

(on a side-note this is fucking hilarious. He says gold/silver derive it's value from the work that had to be put into mining (which is false anyway) and 3 seconds later complains that bitcoin is hard to mine and is constantly being "bid up" in the market. Just LOL. He seems to think its unfair that it's hard to mine and one has to buy it. Well duh, same for silver, tried mining some last night in the backyard with that ol' shovel, didn't get much, quite unfair, no everyone's trying to buy it and the price goes up, unfair squared!)

On another side note: I don't understand the whole: "it has value because work was put in"-thing. Maybe the fact that it requires a lot of work to extract bitcoin/silver is result of i's scarcrity, but its value is not a result of the work you had to put in to get it. I've asked this question ("why would the fact that much work was put into producing something mean that this something has value? I can't get the work back out, can I?") to some silver guys and the answer was: "But you can sell that silver and get energy back for it, tadaaa!". That's false again: you can probably buy energy for silver, but not because energy was used to mine the silver but for other reasons. A counter-example can easily be constructed.

Sorry, this was not an answer to what I quoted, but the quote lead me to this.


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: Richy_T on February 20, 2013, 08:14:29 PM
On another side note: I don't understand the whole: "it has value because work was put in"-thing. Maybe the fact that it requires a lot of work to extract bitcoin/silver is result of i's scarcrity, but its value is not a result of the work you had to put in to get it. I've asked this question ("why would the fact that much work was put into producing something mean that this something has value? I can't get the work back out, can I?") to some silver guys and the answer was: "But you can sell that silver and get energy back for it, tadaaa!". That's false again: you can probably buy energy for silver, but not because energy was used to mine the silver but for other reasons. A counter-example can easily be constructed.

Exactly. What if you do all that work and all you get is a pile of rocks? What if you're walking to the site and you stumble over a big nugget of silver (Well, it has happened with gold. I'm not sure if it can with silver).


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: dree12 on February 20, 2013, 09:04:29 PM
On another side note: I don't understand the whole: "it has value because work was put in"-thing. Maybe the fact that it requires a lot of work to extract bitcoin/silver is result of i's scarcrity, but its value is not a result of the work you had to put in to get it. I've asked this question ("why would the fact that much work was put into producing something mean that this something has value? I can't get the work back out, can I?") to some silver guys and the answer was: "But you can sell that silver and get energy back for it, tadaaa!". That's false again: you can probably buy energy for silver, but not because energy was used to mine the silver but for other reasons. A counter-example can easily be constructed.

It's the converse of a true statement. Humans tend to think that if something is true, it's converse also is (e.g. "to be attractive you usually must smell nice" is true, while "if you smell nice you are attractive" is patently false, but enough people believe it to make Axe advertisements work).

Similarly, "if it has value then work must be put in" is true, and obviously so. Its converse, "if work was put in then it must have value", is not necessarily true—but for a human, easy enough to assume so.


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: Severian on February 20, 2013, 10:55:39 PM
The British pound was not a Troy pound. Rather, it was a Tower pound, which measures 12 Tower ounces and weighs slightly less than a Troy pound.

I didn't know this. Thanks.


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: goldlyre on February 20, 2013, 11:14:06 PM
Firstly silver, later on palladium, finally gold... Who knows.


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: Peter Lambert on February 21, 2013, 08:29:05 PM
Firstly silver, later on palladium, finally gold... Who knows.

And after gold we will hit platinum and rhodium.

I'd like to get an ounce of technetium for a bitcoin, please.


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: molecular on February 21, 2013, 08:37:25 PM
Firstly silver, later on palladium, finally gold... Who knows.

And after gold we will hit platinum and rhodium.

I'd like to get an ounce of technetium for a bitcoin, please.

unobtainium!


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: mb300sd on February 21, 2013, 08:38:19 PM
Firstly silver, later on palladium, finally gold... Who knows.

And after gold we will hit platinum and rhodium.

I'd like to get an ounce of technetium for a bitcoin, please.

Won't take long... http://technet.microsoft.com/subscriptions/hh442910.aspx


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: baggyp on February 22, 2013, 01:01:57 AM
i'm saving my canadian pennies and waiting for scarcity to take effect ;)


Title: Re: BITCOIN and SILVER PARITY REACHED!
Post by: molecular on April 26, 2018, 04:00:07 PM
Quote from: Smoothie
BITCOIN and SILVER PARITY REACHED!

https://i.imgur.com/VC0OxbT.png

Bitcoin has reached MASTER BOX PARITY