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Question: If we see ~$30-32 again with a BTC market far more defined than the original boom and crash, what do you think will happen to Silver Bugs?  (Voting closed: February 14, 2013, 10:47:37 AM)
We'll have a rally with all the good news and go beyond $30-32 - 21 (16.5%)
People will think it's a bubble, hit it's all-time high and so MUST crash - 11 (8.7%)
Silver Bugs will freak out and buy BTC - 5 (3.9%)
Silver Bugs will go "Eh", and not care - 34 (26.8%)
Silver Bugs may realistically consider small, affordable-to-lose investments into BTC - 28 (22%)
Silver Bugs won't dare touch BTC - 5 (3.9%)
OMGZ!!! $32!!  Who cares, we're rich!! - 23 (18.1%)
Total Voters: 74

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Author Topic: [Poll] What Happens When BTC = Parity With Silver?  (Read 935 times)
The-Real-Link
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January 31, 2013, 10:47:37 AM
 #1

  Kind of simple and fun poll here guys.  With the recent awesome break of over $20 a coin, I was just thinking what if we hit our old high of $30-32 again?  The upside is that the market is lightyears from where the spike bubble and crash was two-ish years ago.  The all-time high also happens to correlate to the price at the moment of an oz of silver.

  What do you think Silver Bugs (like Gold Bugs, aka precious metals investers) will do?


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January 31, 2013, 10:54:14 AM
 #2

What exactly do you mean when you say parity with silver? 1 BTC being worth a certain weight of silver is no more meaningful than 0.1 BTC being worth the same amount of silver. A long term investor would care about stability and slow steady growth, on average. Bitcoin is about as far away from gold and silver as you can get. To a silverbug, they'd see Bitcoin as a fiat without the fiat.
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January 31, 2013, 11:03:57 AM
 #3

I still remember the time when it hit the USD parity, so let's see what happened:
within less than a year it went from $1 all the way up to $30 and then "crashed" to $2, so in the end it doubled.

If we take that as an example it might work like this:
within a year it goes from $30 to $500 and then "crashes" to $60, so in the end it doubles.

Not sure this is what will happen, but I'd like it.  Grin
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January 31, 2013, 03:59:45 PM
 #4

Nothing.  Absolutely nothing.

Maybe a crash unrelated to silver, but other than that....nothing.
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January 31, 2013, 09:27:31 PM
 #5

If it reaches parity - I'm going to divert some mining 'profits' into buying silver. When we start talking about real world wealth accumulation, having pounds of silver in my safe will make me feel great =P


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January 31, 2013, 09:48:54 PM
 #6

There's nothing special about silver parity per se, and I don't think silver bugs will care.

Now, the fact that it'd be an all-time high? That's going to have a psychological effect. I think there'll be some bearish traits to that effect; I think an all-time high is a great opportunity to liquidate, rather than bet on Bitcoin going farther than it went in what was legitimately a speculative bubble.

But on the other hand... a second trip to $32 means June 2011 wasn't an accident. It means, if Bitcoin got here twice, it'll get here again. It means we'll have finally left the uncertain shadow of our first big bubble, and I think it'll mean a lot of people will finally be ready to hop on - maybe not immediately at $32, but at least at the next time the price looks somewhat stable.

So I think I'll go with "downwards correction, followed by lots of buying pressure".

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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January 31, 2013, 09:53:55 PM
 #7

What exactly do you mean when you say parity with silver? 1 BTC being worth a certain weight of silver is no more meaningful than 0.1 BTC being worth the same amount of silver. A long term investor would care about stability and slow steady growth, on average. Bitcoin is about as far away from gold and silver as you can get. To a silverbug, they'd see Bitcoin as a fiat without the fiat.

I would like to see one ounce of bitcoins equal to one ounce of silver. That would be parity. Smiley

(wait, how do we measure weights of bitcoins?)

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January 31, 2013, 09:58:38 PM
 #8

Facebook may be on par before. It's headed down to it's 20'ies again


 
 
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The-Real-Link
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January 31, 2013, 11:30:09 PM
 #9

Yeah maybe I was mistaken when that'd be equal in weight or other means and not just by what a currenty then says a piece of metal is worth.  But still there's some good discussion so thank you guys for that.

Oh Loaded, who art up in Mt. Gox, hallowed be thy name!  Thy dollars rain, thy will be done, on BTCUSD.  Give us this day our daily 10% 30%, and forgive the bears, as we have bought their bitcoins.  And lead us into quadruple digits
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February 01, 2013, 12:00:50 AM
 #10

I'm a silverbug. I bought physical ag bullion, ag paper contract, ag mining stocks, as well as since four monthes ago plenty of bitcoins. I bought bitcoin while kept most of my ag holdings unchanged. Am I a silverbug or a bitcoinbug? Grin

                               
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Beepbop
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February 01, 2013, 12:14:48 AM
 #11

You consider the Bitcoin investment to be like a hedge investment, right?
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