johnniewalker (OP)
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November 17, 2013, 08:31:15 AM |
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Hey everybody, I just wanted to get some other opinions on this. I have a good amount of silver (just over 100oz). I bought it recently so the most I ever paid per ounce was probably like $27. I keep waiting and waiting for it [silver] to go up. Today I had kind of an epiphany. Silvers going nowhere (yet demand still exists for it), bitcoin is going up. SO, this is my question: Should I Trade My Silver For Bitcoins?
Thanks a lot for sharing your opinions.
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majorX
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November 17, 2013, 08:39:36 AM |
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I have silver as well, and it is best to keep it for long time unless you need money. And no, I dont exchange silver for Bitcoin beause Bitcoin is too much risky
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Crazy
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November 17, 2013, 08:49:09 AM |
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Today I had kind of an epiphany. Silvers going nowhere (yet demand still exists for it), bitcoin is going up. SO, this is my question: Should I Trade My Silver For Bitcoins?
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Elon Krusky
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wopwop
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November 17, 2013, 08:52:06 AM |
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yes
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Rupture
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November 17, 2013, 08:52:59 AM |
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Yes! Do it! Seriously though, what good is some clunky tangible junk when you can get some coins?
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Sage
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November 17, 2013, 08:54:43 AM |
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Putting all your eggs in one basket is foolish investment advice.
Hold some silver, hold some gold, hold some cyrptos.
Buy when they are in their dips (not all-time highs like Bitcoin is now).
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Tzupy
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November 17, 2013, 08:55:00 AM |
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It's OK to trade 50% of your silver for coins, but NOT NOW!
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Sometimes, if it looks too bullish, it's actually bearish
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Crazy
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November 17, 2013, 08:55:54 AM |
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Buy when they are in their dips (not all-time highs like Bitcoin is now).
Damn it! I think I've been doing it wrong
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Elon Krusky
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Pente
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November 17, 2013, 09:22:07 AM |
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I have sold all my gold and silver, bought bitcoins, tripled my money already.
I am close to sixty now, but I can see the writing on the wall. PM is dead, especially silver & gold. If you want to hedge with PM, I would choose something with heavy industrial use.
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Tzupy
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November 17, 2013, 09:30:15 AM |
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+1, and do it while it's not too late.
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Sometimes, if it looks too bullish, it's actually bearish
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mearylll
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November 17, 2013, 10:26:44 AM |
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SO, this is my question: Should I Trade My Silver For Bitcoins?
Depends how many Bitcoins you already have. If none, then sell part of your Silver for BTC. But if you have at least half value in Bitcoin compared to Silver, do not sell for BTC..
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Cluster2k
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November 17, 2013, 11:36:55 AM |
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Both bitcoins and silver have been volatile over the past few years, but only bitcoin could drop 90% within months (June to December 2011). Silver won't do that, but then again it's hard to imagine silver returning 10x your investment from here. Bitcoin may. I would have some money in bitcoins and keep the rest in silver. If bitcoin goes up from here you can sell some to buy more silver. Win.
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Wilhelm
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November 17, 2013, 12:09:40 PM |
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I would keep your silver and invest some money on the side. You can be sure your fiat money will inflate/devaluate. Your silver is way safer than your fiat money if stored properly against theft.
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Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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Spaceman_Spiff
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₪``Campaign Manager´´₪
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November 17, 2013, 12:11:17 PM |
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I would keep your silver and invest some money on the side. You can be sure your fiat money will inflate/devaluate. Your silver is way safer than your fiat money if stored properly against theft.
His question wasn't silver or fiat. His question was silver or bitcoin.
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Wilhelm
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November 17, 2013, 12:17:47 PM |
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I would keep your silver and invest some money on the side. You can be sure your fiat money will inflate/devaluate. Your silver is way safer than your fiat money if stored properly against theft.
His question wasn't silver or fiat. His question was silver or bitcoin. I know I was just opting a third possibility. Bitcoin vs Silver depends on the risk you are willing to take. I would never put in more than 10% of my total savings.
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Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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jzcjca00
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November 17, 2013, 12:21:03 PM |
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SO, this is my question: Should I Trade My Silver For Bitcoins?
The trend is your friend. While it is true that past results do not GUARANTEE future performance, most good traders know that past results are the best PREDICTOR of future performance. Good traders buy assets that are rising in value and sell those that are falling. They follow the trends. Of course, you never want to put all of your eggs in one basket.
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Tips much appreciated! 1PPJHDawPvjh6MEzsvXrMYLgpLmyAaNXUc
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Sage
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November 17, 2013, 12:48:09 PM |
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SO, this is my question: Should I Trade My Silver For Bitcoins?
The trend is your friend. While it is true that past results do not GUARANTEE future performance, most good traders know that past results are the best PREDICTOR of future performance. Good traders buy assets that are rising in value and sell those that are falling. They follow the trends. Of course, you never want to put all of your eggs in one basket. ...Until they reach a black swan event that wipes them out. Traders die broke. Investors get rich... (generalizing). On of the greatest investors, John Templeton, always bought at the point of maximum pessimism. That point for bitcoin was after the last crash. When you're seeing all these posts raving about bitcoin, well, likely it's time to set your stops tight, and be ready to exit the market on a turnaround, waiting for another point of maximum pessimism. Having said all that, yes, bitcoin is going to be on a multi-year long-term trend up. But, along the way it's going to go through several bubble cycles. Don't buy in a bubble folks. Buy in consolidation points only. Look at the charts... these consolidations are easy to spot.
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OleOle
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November 17, 2013, 12:49:34 PM |
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Hey everybody, I just wanted to get some other opinions on this. I have a good amount of silver (just over 100oz). I bought it recently so the most I ever paid per ounce was probably like $27. I keep waiting and waiting for it [silver] to go up. Today I had kind of an epiphany. Silvers going nowhere (yet demand still exists for it), bitcoin is going up. SO, this is my question: Should I Trade My Silver For Bitcoins?
Thanks a lot for sharing your opinions.
I don't think it needs to be one or the other. Right now I'm buying silver as I think it's cheap in historical terms and if we are going to see any increase in economic fortunes across the globe driven by improving conditions in the US and Europe, then I think that the price of silver will be under more pressure and will probably go lower in the short term as money continues moving to income producing assets like equities, before increasing industrial demand drags the price of silver up - buy in gloom. On the other hand, BTC is racing up in price and people are going crazy for it so I'm selling it as fast as I mine it. Asset prices aren't one way, they go up and they go down but right now BTC is heading up, will probably go higher and the price velocity will attract more buyers in - sell in boom. It's completely up to you what you do, but if you can hold silver and perhaps even buy more at these low prices, you'll be rewarded later, it might even be much later depending on your take of what drives the silver price. With BTC, if you are going to buy in, then buy in and look to make a profit on some of the coins as this 'irrational exuberance' isn't going to last forever but maybe keep some coins just in case the market overshoots on the upside and if it drops, you'll be happy you sold some for a profit to offset what is likely to be a sudden plunge in the price. Most bubbles burst, only economists think they can be deflated. Silver is tangible and in some senses reliable. BTC is intangible, more volatile and somewhat experimental. Therefore it's very difficult to make an 'either or' conclusion about these two asset classes as, in most ways, they are uncorrelated and should, in theory, both be held to reduce the overall risk of a well-diversified portfolio... if indeed, that is your aim. If it's not, put on your speculative hat, lick your finger, hold it in the air and see which way you think the wind is blowing and take a profit were you can. There was a guy on another thread who linked this article below. I'd like to quote them here but can't remember who it was or where I saw it, but anyway, thanks whoever you are, appreciate you posting this as it's quite an interesting read and should probably provide more food for thought: http://thegenesisblock.com/want-to-know-where-btc-prices-are-going-watch-usd/Good luck with it all.
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Sage
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November 17, 2013, 05:30:48 PM |
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Interesting article, but I suspect China is about to decouple Bitcoin from the USD.
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SaltySpitoon
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Welcome to the SaltySpitoon, how Tough are ya?
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November 17, 2013, 05:33:50 PM |
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It depends if you can afford to lose. Silver is never going to go to 0, and chances are in the next 10 years, it will go wayyyyy up. The question is, will Bitcoin go way up, or will it go extinct? Bitcoin is higher risk, higher return. Silver is lower risk, lower return. Invest appropriately my friend.
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