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Author Topic: Silver is loosing ground due to rise of cryptocurrencies  (Read 777 times)
pallang
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July 29, 2018, 12:11:02 PM
 #41

Silver is popular in developing countries but in my opinion we can't compare silver with bitcoin because they are different silver is a material things while Bitcoin is a virtual money and the price of silver is low while Bitcoin is volatile.

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July 29, 2018, 12:18:53 PM
 #42

From my point of view crypto is going to increase its market all over the world. I think it will not affect the gold and silver market. This market are different but in future people can buy it through crypto. So I think till now crypto will not effect this market.
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July 29, 2018, 12:23:15 PM
 #43

and these precious stones are now getting cost stabilized.


Lets call it by name - migration of capitals on a large scale. Literally, fiat mass flowing out of physically perceived matter such as metals, marbles, diamonds etc, that have been deemed stored of value due to their relative industrial scarcity, to digital surrogates. And now that physical staff is being [artificiality] "cost stabilized" to reduce the supply shock. Well this is evolution. Something new is always determined to devalue something old.
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July 29, 2018, 02:44:20 PM
 #44

In many developing countries where gold and silver are so important almost every function in the house is related with it , the dieties the important utensils , earrings and other ornaments , these precious stones are always over the top.
Now the recent survey shows that silver is loosing ground due to cryptocurrencies, and these precious stones are now getting cost stabilized.
What you think is it a good or a bad news ?
Well personally I think it's a pretty good news more and more people will be able to afford it and also I think these precious metals are over valued so it's doing good that it's somehow getting their value down and establishing it's own place.

I don't think the price of silver is affected by cryptocurrency. Connoisseurs of precious metals, as there were reasons to buy silver, so they buy. Personally, I know many people aged, they do not believe in cryptocurrency, they only believe in gold and silver. They tell me it's the most valuable asset for centuries.

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July 30, 2018, 09:15:19 AM
 #45

In many developing countries where gold and silver are so important almost every function in the house is related with it , the dieties the important utensils , earrings and other ornaments , these precious stones are always over the top.
Now the recent survey shows that silver is loosing ground due to cryptocurrencies, and these precious stones are now getting cost stabilized.
What you think is it a good or a bad news ?
Well personally I think it's a pretty good news more and more people will be able to afford it and also I think these precious metals are over valued so it's doing good that it's somehow getting their value down and establishing it's own place.
Where did you read that from what and who said so? Some of you are fond of making up fake news. That’s very stupid, I don’t know why anyone would be doing such.

Silver is not falling cause of anything and so is Gold… They are both stable and are very important (even more important than crypto). There are lots of things you can do with gold and silver and they have been very helpful right from the beginning, and in lots of ways.
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July 30, 2018, 10:27:47 AM
 #46

The silver market is smaller than gold, but the demand for silver in industrial production is higher than gold, I think the value of silver is better than bitcoin.
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July 30, 2018, 11:31:03 AM
 #47

I believe whenever an asset goes down in the value and which is very precious in its nature then surely it is good news for all the investors.

However there is one unclear thing here which I need to know, how do you know that silver prices are dropping all because of the crypto currencies? What kind of relationship they have got and why is it related with the silver only and why not the gold, diamond etc??? Do you have any source that link to this article and proves this kind of theory?

There better be strong proof of this because I am still doubtful whether this is because of the crypto's or the usual ups and downs from the real world market.

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July 30, 2018, 11:34:59 AM
 #48

The silver market is smaller than gold, but the demand for silver in industrial production is higher than gold, I think the value of silver is better than bitcoin.
Unfortunately, the OP did not deem it fit to share where he got all that from. However, from my perspective, I feel these two does not have anything in correlation when it comes to value and as long as there would still be some who would prefer to invest in traditional assets, they will still have their own normal market conditions anyway. Silver and gold has been on for a while, they may be over valued, but those are the values placed by the holders which is the same thing we are having in the crypto space. So, because cryptocurrency is on the rise fundamentally does not mean silver will be losing ground.

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July 30, 2018, 11:39:42 AM
 #49

The silver market is smaller than gold, but the demand for silver in industrial production is higher than gold, I think the value of silver is better than bitcoin.
Unfortunately, the OP did not deem it fit to share where he got all that from. However, from my perspective, I feel these two does not have anything in correlation when it comes to value and as long as there would still be some who would prefer to invest in traditional assets, they will still have their own normal market conditions anyway. Silver and gold has been on for a while, they may be over valued, but those are the values placed by the holders which is the same thing we are having in the crypto space. So, because cryptocurrency is on the rise fundamentally does not mean silver will be losing ground.

I wonder why people leave out their sources, could it be all made up?  Roll Eyes

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July 30, 2018, 11:49:52 AM
 #50

In many developing countries where gold and silver are so important almost every function in the house is related with it , the dieties the important utensils , earrings and other ornaments , these precious stones are always over the top.
Now the recent survey shows that silver is loosing ground due to cryptocurrencies, and these precious stones are now getting cost stabilized.
What you think is it a good or a bad news ?
Well personally I think it's a pretty good news more and more people will be able to afford it and also I think these precious metals are over valued so it's doing good that it's somehow getting their value down and establishing it's own place.

No it wasn't just becauseof cryptocurrency,maybe the people nowadays becoming more practical than the past,now they know that investing or buying precious stones or jewelry wont give them good profit compared to what cryptocurrency can offer and sooner can give thats why they are investing in this community than silver or evem gold


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July 30, 2018, 11:55:58 AM
 #51

In many developing countries where gold and silver are so important almost every function in the house is related with it , the dieties the important utensils , earrings and other ornaments , these precious stones are always over the top.
Now the recent survey shows that silver is loosing ground due to cryptocurrencies, and these precious stones are now getting cost stabilized.
What you think is it a good or a bad news ?
Well personally I think it's a pretty good news more and more people will be able to afford it and also I think these precious metals are over valued so it's doing good that it's somehow getting their value down and establishing it's own place.
And there will be also that people who would invest in cryptocurrency anyway, and the same would be about those people who are investing in precious metals as gold and silver. They will be also present.

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July 30, 2018, 11:58:07 AM
 #52

Gold and silver are a hard or you can say existing asset. Gold and silver have been money for thousands of years and no amount of market rigging, made up rules, or government intervention will change this law of man. I prefer to trust history over speculation.
Bitcoin/Ethereum are digital, do not exist in physical form, and need electricity and the internet to exist.
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July 30, 2018, 11:59:25 AM
 #53

I don't see connection of silver looking it's price due to cryptocurrency,  wolves handling association may also create a token for their silver's to be bought   using their ICO token if they want to.
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July 30, 2018, 11:59:43 AM
 #54

The silver market is smaller than gold, but the demand for silver in industrial production is higher than gold, I think the value of silver is better than bitcoin.
Unfortunately, the OP did not deem it fit to share where he got all that from. However, from my perspective, I feel these two does not have anything in correlation when it comes to value and as long as there would still be some who would prefer to invest in traditional assets, they will still have their own normal market conditions anyway. Silver and gold has been on for a while, they may be over valued, but those are the values placed by the holders which is the same thing we are having in the crypto space. So, because cryptocurrency is on the rise fundamentally does not mean silver will be losing ground.

I wonder why people leave out their sources, could it be all made up?  Roll Eyes
I would not be surprised if it is all made up. We all know how so many people obviously have assumed things in their head in this space and just not to get the tongue lash of the community, hence, the claim of it being from an anonymous article you cannot lay single hands on even on google search.

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July 30, 2018, 09:11:26 PM
 #55

I think that one of the niches that bitcoin will address is exactly what gold and silver are currently serving - people who want to preserve their wealth in the long run. Obviously, bitcoin cannot replace the cosmetic utility that gold/silver has.

That's why I think you're probably correct in saying that silver is probably seeing or going to see a reduced role as a "safe haven" asset, especially after bitcoin gains more adoption. It's just so much more convenient to use bitcoin, and it offers decentralisation and a limited supply asset just like silver and gold.

That's not to say that silver and gold can't go up in the short to medium term, as I think that they have gone without a bull market for a while and the next one could really emerge at any time. But if you were going to invest in silver or gold, you might as well start accumulating bitcoin in this bear market which has the same functions, except better, more divisible, more portable, and just a lot more practical as currency.

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July 30, 2018, 09:56:47 PM
 #56

Not only silver but gold .Bitcoin has high potential to replace all these minerals that have existed from ages.Their time is getting outlived now by a new era with the information age.This is taking down all minerals in the past to be called the digital gold which is so much coverted after by many.Bitcoin is even more expensive now than gold or silver.

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July 31, 2018, 12:32:26 AM
 #57

I am still believe gold and silver is good investment for our future. Maybe I have a traditional thinking but I am believe Gold and silver still not replace by Cryptocurrency as investment.


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July 31, 2018, 01:22:06 AM
 #58

In many developing countries where gold and silver are so important almost every function in the house is related with it , the dieties the important utensils , earrings and other ornaments , these precious stones are always over the top.

That's right, I can see so many things that are gold and silver and they are really precious for the people. People would take care of these precious metals that they have a special place in the house always.

Now the recent survey shows that silver is loosing ground due to cryptocurrencies, and these precious stones are now getting cost stabilized.
What you think is it a good or a bad news ?

Would you mind providing the link of this recent survey? Nevertheless, silver is still one of the precious metals that investors go to aside from gold but maybe during these times when cryptocurrency is gaining traction then their market share is slowly diminishing.

Well personally I think it's a pretty good news more and more people will be able to afford it and also I think these precious metals are over valued so it's doing good that it's somehow getting their value down and establishing it's own place.

On the crypto communities' side, this would be good news cause this would mean that the demand is going strong. Seeing the number of ICOs launch every day, the market share of each coin is getting smaller but then we should stick to the ones who has shown strong foundation and has been existing for sometime.


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August 01, 2018, 08:52:57 PM
 #59

I do not seem any such correlation between silver and bit coin. Bit coin is a digital currency whereas silver in a kind of material and so I do not seem any competition between these two. Moreover I have also doubt about the accuracy of this news.
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August 02, 2018, 09:56:44 AM
 #60

The price of silver is always unstable. The real stable price is gold, so gold can be used as a store of value. BTC has no such potential at present.
Well from my point of view, I think these both have got same level of stability. They’re different but from bitcoin. When contrast is made, bitcoin is quite more volatile and unstable than gold and silver. But these later two are quite same. They don’t move quite impressively. Their movement is much slower than a rabbit. So whatever suits you, true to go towards it?
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