Bitcoin Forum

In 2012, there were lots of internet talks "Buy 1 ounce silver. End the Fed" then Silver fell to $9/ounce

Bitcoin has the same story with all the anti-government, end banks and anonymous talks.   ;D

I see the parallel that you are pointing out. There is a big difference between the two, however.  Silver is a small market that is easily controlled by a small group of players. With a market cap of 52 billion US, it can be manipulated on forward contracts with the creation of "paper ounces" and sold short.    

The crypto-market (to which I assume you refer because "anti-government and anonymous talks" are directed at all cryptos, not just BTC)
is huge in comparison at almost 400 billion at the time of this writing.  This market is relatively hard to control by a small group of players.

Also, a slump in cryptos wont last a decade the way it does in precious metals.   It hasn't even been around for a decade.  

From a free market perspective, I have more faith in crypto as a means of liquidity and even as store of value than I do in silver (or gold for that matter.)

That's just me pontificating though.

Silver is now $16. Its reserves are limited and produced together with other metals. When they switched to digital photography, the demand, and then the price of it, fell dramatically.

Silver was down 1 percent, at $17 per ounce to $16k per ounce, I don't know if silver will go up again but maybe, because, in my opinion, silver is in demand now especially in our country because our coins don't have any gold now. All of our coins are all silver.

Digital photography may have disappeared but new industrial uses are being found such as solar panels.

Are you sure Silver is used in solar panels ? That is HUGE BUSINESS now worldwide.

yes 100% sure:

I was able to sell 100% pure 3 ounces Silver coin without a purchase's receipt. That is the trust bullion dealers have in 100% pure gold and silver.

The federal reserves have big power in financial world. They can make world economy fever if they want. In cryptocurrency, with only $400billion market cap, we can not make the fed fever, but i think the fed can make regulation about cryptocurrency with their lobby and their financial power

I sell numismatic things, so I keep some silver coins, maybe almost 1kg, I treat them the same as I keep some cryptocurrency.
Because I'm sure precious metals and some crypto have a major advantage that banknote doesn't have.

I have previously sold over £50k in gold at a bullion dealer with no paper work.

I disagree with the comparison of bitcoin to that silly rhetoric propagated by the precious metals crowd.  I heard many of the same sentiments back in 2011-2013, and I knew it was bullshit then.  And you know who those people are who wrote that crap?  People who want to sell you their silver FOR FIAT.  That's right, hucksters.  And they were riding the wave of the metals bull market, which started to crash in 2011.  

But if you think they're not saying the same things today, think again.  I visit coinflation.com occasionally, and the linked articles all keep saying the same thing, repeating in a loop.

Ron Paul says buy gold (https://realdaily.com/ron-paul-says-buy-gold-to-hedge-against-major50-equity-correction-coming/)
You have to own real hard assets like silver and gold (https://goldsilver.com/blog/nomi-prins-you-have-to-own-real-hard-assets-like-silver-and-gold/)

...and it just keeps going.  Don't listen to any of that, that's my advice.  I don't hear many of the same claims about bitcoin, and bitcoin is quite different from metals in many ways.  

Good thread here.  Glad someone is acknowledging the idiocy of metals in 2011.

I don't why the people still compared Bitcoin with the metal.Silver has it own value and bitcoin has it own.The unique characteristics between this two is ,both of this are asset.People use to inverse their money in this two to get get some profit from it .Bitcoin is the virtual asset and silver is the solid asset.

Kind of like the 99% of people here that have no interest in crypto and only try to hype it so they can dump at a profit into fiat.

Which is one of the most popular threads on the forum, spoiler - speculation and every thread is linked to fiat price.

Are China and Russia which are accumulating precious metals as quickly as possible doing so just to try and sell to you? - NO

Its not regulation that will kill crypto its when they hit maturity and the price stabilises.  As soon as people wake up one day and realise that bitcoin isnt going to make them overnight millionaires while doing nothing but hodling they will dump en mass back into fiat.

I dumped a lot of crypto into precious metals when the BTC price was near $19k and its now $8.6k so who is the fool?

Currently a no coiner apart from some IOTA, will possibly buy back in when the time is right but I have no emotional attachment to crypto and just view it as another money making tool.

Bitcoin is also internet talks. Try speaking about Bitcoin to bank managers, businessmen, shop/store owners etc.. They earn multi-million dollars from sales of products and services. That's real business.

Now a days,bitcoin grow to 100% higher than a Silver.And bitcoin is considered as a precious asset as compared to the silver.Just buy the silver of 1kg and buy a bitcoin with same amount.After a month,calculate your profit on this two.You will find the answer,which is potential one.

Well, you just valued the crypto you sold in terms of fiat--just like everyone does, and for good reason.  If not many merchants accept bitcoin, and the ones that do price everything in terms of fiat, there's no real way 1BTC has any meaning by itself.

As for buying the metals, I'm convinced that silver is going to keep oscillating around $16 for quite a while, and while I do think dumping bitcoin at $19k was a good idea, I probably would have just converted it to fiat.  I don't think metals are a great investment, even though they've been beaten down to the point where you might think they're cheap enough to buy.  But hey, I hope you make money and I do see the appeal of owning some nice coins or bullion.  Having something physical representing wealth has an allure to it that is absent with bitcoin.

Edit:
Lol, I'll take your word for it, since I've never had large amounts of any of them.  I have ordered small amounts of metals from Provident and Veldt Gold in the past, but it wasn't much and I ended up selling what I bought eventually.  I always feel like when I have silver on hand, it's money that's not working for me.

Its alot easier to securely and quickly convert large volumes from  BTC -> gold -> fiat

than  BTC -> fiat

Everything can be manipulated and i believe that those with the largest amount of bitcoins can easily do that by creating FUD which in turns makes the value go lower so that they can sell at a cheap value.

I think that in time this will become the case with cryptocurrencies. They just need some time to be adopted by the majority.

Not exactly. These two have totally different background. Why do you have to compare two totally different things with totally different nature? Bitcoin is volatile. Silver is not.
Only this forum values 1BTC for 1BTC. Everyone else,values it in fiat.
Alternative: Buy physical bitcoins made out of metals :D

Crypto is not so easily manioulated by a group of shadow rich guys frome above. So I think crypto is not like that.

True, but we're talking about the interaction of many players here, as opposed to to a "fix" by a hand-full of bullion banks.

Nice FUD you made there. Do you work for the Fed?

This is whats going to happen. Bitcoin and other cryptocurrencies with good fundamentals will see a bull market that we have not seen before conquering the world like how the technology companies did, and "End the Fed" at the same time.

Ty.

I have high speed internet at home since 12 years. I read the internet. See my twitter page below for more.....

Okay so you have been trolling the internet for 12 years lol?

No I wont see your Twitter page because all you want is followers to listen to your crap.

Why am I here posting  ???

OP just gave me a mini heart attack. Thanks yo this post, i could sleep at tonight with a smile on my face. For one thing, i don't see crypto as a bubble but these articles really shakes by belief about all these. So, just hold on to your coins and we will be laughing in the end.

Crypto currencies, especially Bitcoin, is far from silver. They're not even the same species. I don't have to explain it because alot of people already post why it is so, so I'm just going to add that crypto currency will be stronger and more stable as time goes on and soon it will be undeniable.

If its legal, I would like to see a website similar to localbitcoins made for gold/silver/precious metals and commodities. A place where people could conceivably trade their gold or silver coins/bullion for land, real estate, cars and other things. If gold and silver were given extra utility whereby more widespread support for utilization in actual markets were available, I think demand for gold/silver would rise and their respective price would rise as well.

It could benefit bitcoin and crypto currencies. Investors who were too afraid to risk capital on bitcoin, could instead feel encouraged to buy gold or silver. In this case, precious metals could serve as a type of "gateway drug" to mass adoption of crypto as things like limited supply which help to reinforce the value and stability of precious metals also apply to crypto currencies to a degree.

More education and greater information being available on topics like precious metals and bitcoin cold only benefit the public and consumers having more options to pay for things via the introduction of broader support for precious metals could help the average person to better comprehend economic and financial policy which could lend greater support towards crypto and areas where it is needed the most.

Good that you asked yourself that question. You will realize that it is because you need consolation that bitcoin will work and won't disappoint you like silver did.
Don't you worry. Bitcoin's story is not the same. It is not really anti-government. It is more like an antidote to all that ails the government. You have nothing to worry if you are invested in bitcoin.

The Fed is too strong and to big to be fell. Its will make our world economy colaps  i think. Domination the fed on world economy is very big and its appears when they want to rise the rate.
Bitcoin can not make the fed fell but maybe can disrupting banks bussiness

for silver or BTC, it is have some same characteristics.
1. The value is pushed higher than the value used (here I am referring to the value of their current application, not to mention its inside price) it's like a bubble is blowing over necessary.
2. The market can be manipulated by large financial institutions.
But to say its is the same is not true. One is material and the other is the cryptocurrency asset. it is traded in completely different ways

I agree.  There is synergy between the crypto markets and the metal markets.  From what I can see, crypto space has a relatively high percentage of metal investors.  In the end, I think crypto will drive the adoption of metal, and metal will drive the adoption of crypto.  They are stronger together. 

Consider the use case: Crypto markets are too volatile -> convert part of portfolio to metal. 

Glad I could help.  Don't worry about the fudsters, just keep your eyes on the prize. 

$20 Trillion debts does not look good for Federal Reserve.

Yes , bitcoin was in 2009 about 0.01 $ and in little years become about 20000$
bitcoin will be more importance from the gold , bitcoin will exceed the Moon

I think the silver market is more transparent and easy to control than Bitcoin in particular and virtual currency in general. Thus, there will be no governmental bargaining or control for the virtual currency. So, they have to ban them. However, the virtual currency is anonymous and it seems the participant will never be revealed. So many people find it because of the properties it brings as well as the huge profits from investing in it.

And that's just one of its uses. The battery market may be at least as big as the solar panels.

According to Ortega, when silver-zinc is compared with the smallest Li-ion batteries available, the silver-zinc cell has a 57-percent greater energy density, whereas the largest silver-zinc cell is greater by 20 percent over the best performing Li-ion option available. He also said silver-zinc rechargeable microbatteries have been shown to be safer and better for the environment.


I actually have a silver-calcium battery in the car right now.

Why not? Your wealth should be diversified. Buy silver or gold or other metal, and keep the part of your money evaluated in these commodities. Also buy Bitcoin or other crypto-currencies, or the shares of a companies, or the fiat currencies of other countries. The price of silver is more stable than the price of BTC, but I guess that this metal won't grow in the near future.

I strongly disagree.  The silver market is opaque compared to crypto.  A handful of players controls the entirety of the market.  They have a "fix" every day where they get together and set the price.  Forward contracts for production are multiplied and sold short to drive the price down.  There is very little that is transparent in the silver market.  

Bitcoin anonymity is for hackers and criminals also so bitcoin is common for criminal activities. Looks like Bitcoin has failed as a payment system now that expedia.com removed bitcoin.

Maybe Bitcoin is viable for something different than being a payment option
for companies like Expedia.

In my opinion Bitcoin´s two main use cases are being a store of value and being
a censorship-resistant payment option. We all know that sites like Wikileaks
got cut off from all mainstream payment options and therefore they had to turn
to alternatives like Bitcoin. No authority can shut down your Bitcoin wallet
and you can use it from anywhere in the world.

If you really want to order from Expedia, you don´t really need Bitcoin and you
can just pay using Paypal or your credit card.

Tax gets misused many times like funding NASA "planet mars mission". There are more meteorite hits on Mars than on Earth but they are spending tax payers multi-million dollars on Mars missions. Wasteful government expenditure must be cancelled by the taxpayers.

I agree with you about governments wasting taxpayers' money, but that's neither here nor there as far as silver goes.

Just checked the spot price, and silver is at $14.08.  That's less than it was back when this thread was started, so you would have lost value had you bought silver then, just a few months ago.  I couldn't tell you whether the low price makes it attractive to buy, but after watching silver drop for the past seven years, I have my doubts.  Sometimes when an asset has been beaten into the ground, it becomes undervalued.  The problem with metals is that there's no real way to tell what the value should be.  It's not like a stock where you can look at the dividend and management and profit potential; it's sort of like crypto.  The price is all supply and demand.

And just like I said back in May, the propaganda machine rolls on:
Buyers waking up to ‘cheap’ bullion (http://www.numismaticnews.net/article/buyers-waking-up-to-cheap-bullion)
Silver Prices: Supply and Demand Disparity Could Result in Huge Returns (https://www.lombardiletter.com/silver-prices-demand-supply-disparity-result-huge-returns/30029/?utm_source=categorypage&utm_medium=RightSidebar&utm_content=%7B6%7D)

Don't believe the hype--unless world currencies start to crash or we have some sort of serious economic crisis, and I mean a real one and not just the threat of one.  If something like that happens or is imminent, maybe silver will become attractive.  But don't tell me that we should expect a crisis soon, because I've been hearing that for over a decade now.