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Question: when will 1 BTC be worth 1 oz of silver (for at least 1 day using daily average prices)?
before March 1st 2013 - 22 (16.9%)
before Aug 1st 2013 - 23 (17.7%)
in 2013 - 40 (30.8%)
in 2014 - 28 (21.5%)
in 2015 - 5 (3.8%)
in 2016 or later - 7 (5.4%)
never - 5 (3.8%)
Total Voters: 130

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Author Topic: [POLL] when will 1 BTC be worth 1 oz of silver?  (Read 2771 times)
molecular
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January 17, 2013, 11:57:33 AM
 #1

in reference to threads


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molecular
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January 17, 2013, 12:03:34 PM
 #2

assuming bitcoin rises 100% per year (6% per month) and silver 10% per year (0.8% per month) it should happen in 15 months (bitcoin: $36, silver: $35).

That would put it in April 2014



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January 17, 2013, 12:07:38 PM
 #3

1 ounce = 28.3495231 grams

1 troy ounce = 31.1034768 grams
molecular
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January 17, 2013, 12:28:36 PM
 #4

1 ounce = 28.3495231 grams

actually I think american ounce (used for silver) is 31.x

http://wiki.answers.com/Q/How_many_grams_of_silver_in_an_ounce

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January 17, 2013, 12:43:10 PM
 #5

1 ounce = 28.3495231 grams

actually I think american ounce (used for silver) is 31.x

http://wiki.answers.com/Q/How_many_grams_of_silver_in_an_ounce

I used google.
https://www.google.com/search?q=1+oz+to+grams
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January 17, 2013, 12:56:31 PM
 #6

A TROY ounce weighs heavier than a traditional ounce measurement used for something like, say cooking ingredients for instance.

Usually around 30+ grams

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January 17, 2013, 12:59:01 PM
 #7

A TROY ounce weighs heavier than a traditional ounce measurement used for something like, say cooking ingredients for instance.

Usually around 30+ grams

https://www.google.com/search?q=1+troy+ounce+to+grams

No idea what that means though.
molecular
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January 17, 2013, 02:11:59 PM
 #8

A TROY ounce weighs heavier than a traditional ounce measurement used for something like, say cooking ingredients for instance.

Usually around 30+ grams

https://www.google.com/search?q=1+troy+ounce+to+grams

No idea what that means though.

31.1 grams sound about right for eagles, maples leaves, philharmoniker

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January 17, 2013, 06:02:35 PM
 #9

See? This is why bitcoin will beat silver. The barrier to entry on the silver market is too high! We can't even figure out how much an ounce of silver is! At least we know 1 bitcoin is 1 bitcoin, there are no regional interpretations like, in Canada, 1 bitcoin is actually 1.125 BTC.
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January 17, 2013, 06:15:49 PM
 #10

See? This is why bitcoin will beat silver. The barrier to entry on the silver market is too high! We can't even figure out how much an ounce of silver is! At least we know 1 bitcoin is 1 bitcoin, there are no regional interpretations like, in Canada, 1 bitcoin is actually 1.125 BTC.

This +1

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January 17, 2013, 06:27:23 PM
 #11

See? This is why bitcoin will beat silver. The barrier to entry on the silver market is too high! We can't even figure out how much an ounce of silver is! At least we know 1 bitcoin is 1 bitcoin, there are no regional interpretations like, in Canada, 1 bitcoin is actually 1.125 BTC.

This +1

-1
Has nothing to do with the barrier of entry, just that some ignorant nobody doesn't know how much a troy ounce is doesn't mean that he'll get anything else than everybody when he buys "an ounce" of silver.

What really matters is if those who would be interested in the investment have the cash to acquire it. And they know what they get.
With silver that is definitely the case, historically, with bitcoin it is uncertain, although it could surpass it someday.

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January 17, 2013, 06:32:49 PM
 #12

See? This is why bitcoin will beat silver. The barrier to entry on the silver market is too high! We can't even figure out how much an ounce of silver is! At least we know 1 bitcoin is 1 bitcoin, there are no regional interpretations like, in Canada, 1 bitcoin is actually 1.125 BTC.

This +1

-1
Has nothing to do with the barrier of entry, just that some ignorant nobody doesn't know how much a troy ounce is doesn't mean that he'll get anything else than everybody when he buys "an ounce" of silver.

What really matters is if those who would be interested in the investment have the cash to acquire it. And they know what they get.
With silver that is definitely the case, historically, with bitcoin it is uncertain, although it could surpass it someday.

Sorry mucus, I was being tongue-in-cheek, with the irony being that I can't even explain what a bitcoin is.
molecular
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January 17, 2013, 06:49:12 PM
 #13

bitcoin is much more liquid, though.

try buying an ounce of silver and sell it again on the same day and see what's left. We even pay 7% (or 9%?) sales tax on silver in germany.

also: with bitcoin you can buy stuff Wink

I still have a bet settlement outstanding where a friend has to buy me a t-shirt using 1oz silver coin. Looking forward to that experience.

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January 17, 2013, 06:56:36 PM
 #14

bitcoin is much more liquid, though.

try buying an ounce of silver and sell it again on the same day and see what's left. We even pay 7% (or 9%?) sales tax on silver in germany.

also: with bitcoin you can buy stuff Wink

I still have a bet settlement outstanding where a friend has to buy me a t-shirt using 1oz silver coin. Looking forward to that experience.


yep, this is why I hate keeping gold and especially silver, it's fucking difficult to store and try to get a fair price when you sell (unless the market is crazy bullish)

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January 18, 2013, 03:28:21 AM
 #15

June 2011

Use CoinBR to trade bitcoin stocks: CoinBR.com

The best place for betting with bitcoin: BitBet.us
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January 18, 2013, 03:43:34 AM
 #16

June 2011

+1

@OP do your homework before asking stupid questions lol  Cheesy

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January 18, 2013, 03:51:46 AM
 #17

June 2011

+1

@OP do your homework before asking stupid questions lol  Cheesy

Do YOUR homework

Silver was well over $34/oz in June 2011:


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January 18, 2013, 03:55:25 AM
 #18

Do YOUR homework

Silver was well over $34/oz in June 2011:

Oh snap. Here comes jl2012 with the facts!
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January 18, 2013, 04:00:26 AM
 #19

June 2011

+1

@OP do your homework before asking stupid questions lol  Cheesy

Do YOUR homework

Silver was well over $34/oz in June 2011:






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January 18, 2013, 05:08:03 AM
 #20

See? This is why bitcoin will beat silver. The barrier to entry on the silver market is too high! We can't even figure out how much an ounce of silver is! At least we know 1 bitcoin is 1 bitcoin, there are no regional interpretations like, in Canada, 1 bitcoin is actually 1.125 BTC.

well yeah.. except that 1 Casascius Bitcoin will set you back 1.1BTC if you buy 100+ at a time.
I wouldn't part with my Casascius coins for just face value.

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