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Author Topic: Bitcoins death effects would precious metals ?  (Read 729 times)
toomsie
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January 21, 2014, 02:04:09 PM
 #1

Do you think that Bitcoins death effects would precious metals.
Many liberterian who own bitcoins also own gold and silver. A death
of bitcoins could mean they could rush to buy gold and silver.
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January 21, 2014, 04:46:02 PM
 #2

While the two groups are hardly mutually exclusive, I have got the impression that some big metals people don't see the point of bitcoin. I think at least in the west, a bitcoin disaster would strengthen fiat more than gold.
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January 21, 2014, 04:51:34 PM
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I guess really early adopters were hi tech stackers.
Nowadays it is pure money making capitalism, so the markets are probably a bit different
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January 21, 2014, 05:07:38 PM
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IMHO there is a place for both.  I like having stuff in my hands - that can never be beat.  That being said, PM are very heavy and difficult to transport and exchange.

I like a mix.  Play the field, cover the bases by mixing and matching.  Have some of everything and you cannot go wrong.  As circumstances change you play one or another, there is great advantage to that.

Sincerely I am, Johnny BitcoinSeed .com
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January 21, 2014, 07:52:37 PM
 #5

Do you think that Bitcoins death effects would precious metals.
Many liberterian who own bitcoins also own gold and silver. A death
of bitcoins could mean they could rush to buy gold and silver.

I know a fairly "famous" doomsday prepper.  By famous I mean national best selling books, TV interviews etc.  He's actually quite normal in a way, lol.

But he of course is a huge hoarder of gold, silver (mostly silver), and even older nickels.  I asked him about Bitcoins.  He says, I know a little bit about them, I own about 15 of them simple through donations years ago.  Do you believe in them?  "Yes and no.  Now, sure.  But good luck trading with them in the upcmoing global apocalypse."

Now this is one person but I can see a lot of people with this mindset.  I own both gold and Bitcoin.  But a lot of the true "hoarders" of metals want something physical to hold. 

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DStrange
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January 21, 2014, 08:51:56 PM
 #6

While the two groups are hardly mutually exclusive, I have got the impression that some big metals people don't see the point of bitcoin. I think at least in the west, a bitcoin disaster would strengthen fiat more than gold.
agreed. "big metals people" simply do not require anything besides, well, metals. it's granting them sufficient profit and there is no need in something "new and not really easy to adopt" thingy

mgio
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January 21, 2014, 08:53:49 PM
 #7

bitcoin is far too small to effect the precious metals market.
Dr Bloggood
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January 21, 2014, 09:11:34 PM
 #8

Your headline gives me a slight headache.
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