Le Happy Merchant
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November 17, 2013, 05:45:42 PM |
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IMO, if you don't have any Bitcoins, get some, but don't spend silver if you can help it, spend dollars.
Silver is poised to explode, maybe not so much as Bitcoin.
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NUFCrichard
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November 17, 2013, 06:28:06 PM |
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Silver is a hedge against inflation, bitcoin is an all or nothing gamble, which could make you very rich, or lose all of its value. I wouldn't swap silver for gold, but stop acquiring silver and start acquiring btc.
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dozerz
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November 17, 2013, 06:33:12 PM |
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bitcoin will be useless for trading in the post apocalyptic world so make sure you are stocked for all eventualities
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space for rent, shilling for sats
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theecoinomist
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November 17, 2013, 07:02:50 PM |
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"Concentrate your energies, your thoughts and your capital. The wise man puts all his eggs in one basket and watches the basket."
- Andrew Carnegie Wealth: $300billion - measured in 2007 US Dollar (Source: Forbes)
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byronbb
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HODL OR DIE
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November 17, 2013, 07:13:38 PM |
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Go get a loan vs your silver and buy bitcoins.
Pawnup.com
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dnaleor
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November 18, 2013, 01:04:01 AM |
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Go get a loan vs your silver and buy bitcoins.
Pawnup.com
that is actually a good idea. I bought 25oz a few weeks ago. I could have bought almost 5 BTC with that fiat. I regret it now... But silver was really cheap at the moment I placed my order. (I already had a lot of silver, and some BTC... Decided to buy silver) oh well, with the current rise in price, I already have more BTC than my silver stash
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johnniewalker (OP)
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November 18, 2013, 02:56:10 AM |
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Thanks for the advice, everybody. I do think (although I could be wrong and therefore I would have made the wrong decision) that we are on the edge of another bubble here. The only reason I thought to get rid of my silver is because I'm mad at it...if that makes sense. I remember plenty of people forecasting that it would hit $50 by the end of this year. Instead of that it doesn't want to budge + or - $1 or $2. So in the short term it has cost me money. And no one knows when it will do the opposite. I already have some bitcoins. God knows I would love to have some more but I really don't want to pay $500+ for one. In the past when they've gone up so high so quickly like this, they've gone down (why I believe the bubble will burst) almost just as fast. I liked the line about buying at the point of maximum pessimism. Its funny how we can speculate all day, all have our own good, thought-out ideas based on facts and still have completely no idea which way its going to go. All I can say is good luck to everybody.
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chesthing
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February 26, 2014, 04:44:48 AM |
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I feel things are on thin ice for the next few months. I might be a lousy trader but I have good instincts even though I don't often put them into action.
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traderCJ
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February 26, 2014, 04:49:43 AM |
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I feel things are on thin ice for the next few months. I might be a lousy trader but I have good instincts even though I don't often put them into action.
I feel the opposite. I think the Gox disaster has been adequately priced in. What's your reasoning?
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checkers6676
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February 26, 2014, 05:54:25 AM |
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400-550 is the time to get in. we may fluctuate in and out of these levels over the next month, but once we pass 800 again, you'll never have the chance to buy <600 in the future, period.
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chesthing
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February 26, 2014, 05:58:53 AM |
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I feel things are on thin ice for the next few months. I might be a lousy trader but I have good instincts even though I don't often put them into action.
I feel the opposite. I think the Gox disaster has been adequately priced in. What's your reasoning? What the government may do about all those people who will be screaming for justice, we'll see. I personally think Karpeles and his cronies should be hanged by their testicles in the public square.
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dnaleor
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February 26, 2014, 02:31:03 PM |
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I sold some silver in the recent weeks. I think this is the right time to acquire more bitcoins. New breakout will push us above 1000 USD/BTC and we will stay there.
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dnaleor
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February 26, 2014, 02:56:14 PM |
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I sold some silver in the recent weeks. I think this is the right time to acquire more bitcoins. New breakout will push us above 1000 USD/BTC and we will stay there.
I agree that this is a good time to acquire more bitcoins, just have to sell some silver at a loss. I did the same. Bought most of my silver around 28 USD... But I sold my silver directly for BTC on this forum, so I did not touch fiat, so in my mind, I bought BTC for silver
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MatTheCat
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February 26, 2014, 03:07:16 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.
Depends. If you can learn to trade, much more volatility in Bitcoin than silver (most of the time) and therefore much greater earning potential.......but with much much more risk. If I were you, and I had alternative capital, then I would hold onto my silver. Strong chances are that the bottom was in for Silver at $18. If you have it in physical form, then as you will know, there are high premiums to be paid (and Tax if depending on where u live) and really, holding physical precious metals is the ultimate insurance policy. If however all your capital is in the silver, then you may want to consider liquidising some of it to play in Bitcoinland. Thanks for the advice, everybody. I do think (although I could be wrong and therefore I would have made the wrong decision) that we are on the edge of another bubble here. The only reason I thought to get rid of my silver is because I'm mad at it...if that makes sense. I remember plenty of people forecasting that it would hit $50 by the end of this year. Instead of that it doesn't want to budge + or - $1 or $2. So in the short term it has cost me money. And no one knows when it will do the opposite. I already have some bitcoins. God knows I would love to have some more but I really don't want to pay $500+ for one. In the past when they've gone up so high so quickly like this, they've gone down (why I believe the bubble will burst) almost just as fast. I liked the line about buying at the point of maximum pessimism. Its funny how we can speculate all day, all have our own good, thought-out ideas based on facts and still have completely no idea which way its going to go. All I can say is good luck to everybody. A very salient point. You made the mistake of listening to Silver Stacker. In Bitcoinland, you run the exact same dangers of listening to Bitcoin Nutter. Make the mistake of listening to these mother fuckers, and their 'opinions' will see you in the fkn poor house. And if anything, Bitcoin Nutter is far more zealous than Silver Stacker. If Silver Stacker is a local community action group, then Bitcoin Nutter is the Mujahideen. Always be aware to take necessary precautions to protect yourself against the Bitcoin Nutters!
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Dissonance
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February 26, 2014, 04:50:21 PM |
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If you can't stomach high volitilty (50% declines are a regular feature of bitcoin) then bitcoin is not for you. With that said I think BTC will out perform silver over the next few years but nothing goes up in a straight line so don't use money you need now or within 5 years.
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Rawted
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February 26, 2014, 05:01:04 PM |
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Thanks for the advice, everybody. I do think (although I could be wrong and therefore I would have made the wrong decision) that we are on the edge of another bubble here. The only reason I thought to get rid of my silver is because I'm mad at it...if that makes sense. I remember plenty of people forecasting that it would hit $50 by the end of this year. Instead of that it doesn't want to budge + or - $1 or $2. So in the short term it has cost me money. And no one knows when it will do the opposite. I already have some bitcoins. God knows I would love to have some more but I really don't want to pay $500+ for one. In the past when they've gone up so high so quickly like this, they've gone down (why I believe the bubble will burst) almost just as fast. I liked the line about buying at the point of maximum pessimism. Its funny how we can speculate all day, all have our own good, thought-out ideas based on facts and still have completely no idea which way its going to go. All I can say is good luck to everybody. jw, i think you and I had this conversation almost exactly a year ago. I was advocating selling all of your silver then (I dumped 35+ pounds @ $34/ozt - which was 2 BTC/ozt ~). I was trying to tell everyone that the PM market is the most heavily manipulated in the world with their bullshit HFT. Nothing has changed, dump now and move into BTC.
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sgbett
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February 26, 2014, 05:40:42 PM |
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What is your appetite for risk?
Bitcoin could go to zero, could do nothing for years, could fall/rise slowly for years, could go to the moon tomorrow.
Silver looks pretty oversold, is unlikely to go lower but has a historical floor of about $5 so would probably never go to zero. Might bob along doing nothing for years, might go significantly higher but probably not to the same extent bitcoin could.
The boring answer is diversify.
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"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto*my posts are not investment advice*
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DPoS
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February 26, 2014, 07:24:19 PM |
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take all your wealth to a wealth manager and he will rid you of worrying about it one way or the other
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afbitcoins
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February 26, 2014, 09:58:46 PM |
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Heres my 2 satoshis. Don't sell silver to buy bitcoins. Do it the other way around. Accumulate bitcoins, then on peaks trade some in for precious metals. I think PMs are long term more reliable, stack them for the future. Bitcoins is untested at mass adoption, how well will the blockchain scale? will it remain decentralised? But yes keep some bitcoins for long term too in case.
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dnaleor
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February 26, 2014, 11:40:36 PM |
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I still think the metals are a good long term holding but it won't move as much as bitcoin will in the next 12 to 24 months.
Which one would you unload first, silver or gold? Does it make a difference?
Indeed, that is why I am selling some precious metals at the moment (only some, not all!). I will buy them back once I feel that BTC is at a more stable price and the growth is slowing down (probably above 5000 to 10000 USD/BTC) I think gold will move less than silver, so I advice to sell gold in stead of silver. (But I have little gold and much more silver, so I am selling both)
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