What if the opposite happens this time, since everyone is expecting it? Silver is a small market, and can be easily influenced in both directions.

There are people waiting to buy.

I know I am.

Oh, I misunderstood then. 

You warned them because....you had a "feeling". That's a very bad reason to sell. Its precisely why the sell-off took place, because of emotional irrationality. If miners need money to pay off their debt, they will sell, often regardless of price.

Past performance is no indicator. Your "analysis" is that prices will continue to fall "because its falling". Just like past performance didn't guarantee that bitcoin would continue rising past $30 non-stop.

All bitcoin services should have a phone number listed with a live person on the other end.

There is no excuse to not do this.

I lost one bitcoin.

AK versus KT. Went all-in. Opponent spiked a T on the river.

In my part of Canada (mid-west) i am not aware of any reputable retail location that I can purchase PM's from, without supplying photo ID.

There is only so much silver to go around.  Free market structure allowed the price to go to $50. Market manipulation by the US Government is what cause the price to collapse. If they had not intervened, I suspect the price would be at around $100 today.



That's way off. Silver is one the smallest commodity markets on the planet. Annual world silver is 800m or so ounces. Times $40 an ounce = 32bn dollars. Bill Gates could buy up over a year's supply of silver. Lets compare that to the crude oil market. With the price of oil at 92$/barrel, and daily US consumption at 14m barrels a day, Bill Gates can only buy about 25 days of oil production for USA ONLY with that same 32bn dollars!

Or, if you prefer, if 1 million people invest just $32,000, they could buy up ALL of a years silver production. Which of course CAN"T BE DONE because you can't just go out and buy 800,000,000 ounces of silver, it would take 6 months at least. The price would go to the moon. $1000/ounce, easily. It happened with palladium, which started under $100 and reached an all-time high of nearly $1100/ounce. Mostly due to shortages.

Sorry, I'm abrasive by nature.

Why sell your silver at $7 when you bought at $15? That's not a fault of the silver market. And it certainly wasn't the Hunt's fault. The blame lies with the US government for the Hunt debacle. The same government that is now backing the dollar that everyone holds so dear. The USD will be shit soon, and its been a long time coming.

This is such a cheesy argument. My bank knows what I buy with my credit cards, where I buy it, and how much i spent. So does your bank. Everyone's bank.


To do the same thing with bitcoin, you need to be one of two things:

1.  A skilled hacker.
2. A government agency with probable cause.

  

No shit. This is so rigged. I've never seen any project with this much bad luck in all my years.

Like the name, Big Time.

Keep the faith.

Bitcoin wouldn't be risky if everyone held on to them, now would they. These idiots buy high and sell low when they think its crashing, then realize bitcoin is "risky". LMAO! Stupid can't be stopped is right.

He probably had to sell all his 3 ounces.

Fair enough. Your analysis seems reasonable. (I'm no expert).

There are a couple of factors that I believe could play in factor in changing the game.

1. Shortages. There is a lot of investment demand right now. In the USA retail silver sales are through the roof.



2. Large players coming to market. China, for example. Their government are bullish on silver.



3. Economic crash could result in a mining and exploration crunch. With silver already in a tight situation, this would be a very bullish event. All of the world's annual silver mining production is consumed in some way.



As we can see in 2008, industrial demand was about the same as the previous year and dropped about 20% the following year. The silver price dropped 50% a year early, in anticipation of the this. However the following year, 2010, silver rebounded very strongly, and although industrial demand did not increase from 2007 levels, total consumption (and price) rose sharply in part due to investment.



To me, this graph is misleading, as investment and industrial are not the only two categories. But it does tell a tale of a short-term decrease in the significance (but not necessarily the physical amount) of industrial consumption, yet some of that same silver is lost forever in the processes of industry.

Great answer.  

But I would like to hear your response.

The USD goes to shit in 30 years, and silver follows?

Has silver become more abundant?

Have we found replacements for silver in industry?

Why are you so bearish on silver?

"Don't hoard your silver coins, it will never be profitable." US President Johnson, 1965

He says this precisely because silver bullion was becoming too valuable to describe a shit US dollar, as the mint was in the process of changing to copper-clad coins.

http://news.google.com/newspapers?id=3P1OAAAAIBAJ&sjid=XgEEAAAAIBAJ&pg=4613,3314165&dq=don-t+hoard+your+silver&hl=en

Richard M Nixon on inflation, 1972: "Gas will NEVER a dollar a gallon.....Bread will NEVER be a dollar a loaf ! "

In 1980 US minimum wage was about $3.10/hour on average (in 1980 dollars). If silver rose to $50/ounce then, it would cost two days wages to buy an ounce of silver. If minimum wage today is set at $7.25/hour, then a silver spike equivalent to 1980 would bring silver to $116/ounce in 2011 dollars.

Are you telling us that silver has LOST value against the US dollar, after 30 years of non-stop printing of money?

Or is silver under-valued?

You decide.

Yeah, too easy.

I am a big miner by most standards. I haven't sold any BTC since mid-June.

I want to pick up some cheap bitcoin too.

Nice try at neutering my post. Take a fistful of those, maybe you'll feel refreshed after.

Bitcoin is a useful legitimate commodity with a solid foundation.

Top 12 Reasons for dot-com failures:

1.    Customer service meltdown: Neglecting service is always a license to lose customers. One Internet research firm that  measured customer service at 79 online sites found 30% of  customer service e-mails went unanswered.

2.    Doing the same thing - Companies that do not make fundamental changes to their corporate goal, and objectives and simply operate according to business as usual, after they begin e-commerce, are going to put themselves in a bad situation when the changes that e-commerce creates begin to effect the company.

3.    Inadequate order fulfillment: Too many companies still don't have stock on hand or readily available to meet  customer orders — leaving customers in limbo or the lurch.

4.    Use of primitive search and transaction tools: Many websites make consumers wait too long or take too many  steps to find what they're looking for.

5.    Failure to globalize: Many U.S. websites neglected potential customers in other countries. Market-research firm  IDC says this is the year [2001] that international surfers will outspend U.S. online shoppers.

6.    Building community, not clientele: Too many dot-coms have emphasized building a community instead of clientele.

7.    Insufficient budgets: Memo to the accounting department:  deploying a website is just the beginning of a company's e-commerce expenditures. Many companies underbudget their needs in website maintenance and marketing. Emerick says "As savings are realized and revenues generated, the Internet must have additional funding from these successes or it will fall behind waiting for the next budget cycle."

8.    Channel conflict: Many companies leap into Internet sales  without considering the impact on their channel partners, such as dealers or retailers. The resulting chill has set back many e-commerce initiatives.

9.    HR problems - need a senior executive - if you want the "e" side of your business to have influence over the company's direction, you need to create a senior staff position for an executive that has authority and can do things corporately, internally and externally, on behalf of the people trying to develop the e-objectives

10.    HR problems - compensation - if you start to have company executives bringing in money based on the e-commerce side of the business, you have to make sure you reward them with bonuses or increased pay in proportion to the $$$ they are creating in revenue.

11.    Innovation - the intensity of the competitive environment and the continued developments in the technological environment require that a company constantly search for innovative ways to produce and dispense the product and deal with customers

12.    Customers to Ambassadors - mass advertising turns people off - if they like your product, they will tell other people - this is desirable. If you can use internet structures and great customer service to turn customers into ambassadors of your product, you will be, in effect, increasing your sales force.

Again: WHAT DOES THIS HAVE TO DO WITH BITCOIN?