Silver is loosing ground due to rise of cryptocurrencies

[The_Dark_Knight]

Silver is a precious metal.Cryptocurrency is a means of accumulation and payment for goods or services.These 2 things lie in different planes.They cannot be compared.The price of silver is approximately the same while the price of cryptocurrency can change 2 times a day.As for me, this news is neither good nor bad

Silver is money, in fact it has been the most widely circulated form of money since gold was so valuable that many prefer it to hold it than to spend it, does that ring a bell? That is why even if I think bitcoin is the perfect currency, bitcoin will be stored like gold and we will need another crypto to circulate and the most likely candidate for that will be litecoin.

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[wuvdoll]

Silver is a precious metal.Cryptocurrency is a means of accumulation and payment for goods or services.These 2 things lie in different planes.They cannot be compared.The price of silver is approximately the same while the price of cryptocurrency can change 2 times a day.As for me, this news is neither good nor bad

Silver is money, in fact it has been the most widely circulated form of money since gold was so valuable that many prefer it to hold it than to spend it, does that ring a bell? That is why even if I think bitcoin is the perfect currency, bitcoin will be stored like gold and we will need another crypto to circulate and the most likely candidate for that will be litecoin.

Yes, there is actually no point losing hope. It is the market, we are presently experiencing the correction, it is not the end of the world or the end of bitcoin and the general cryptocurrency market and in cases like this, it is normal to see that things will surely pick up later on when the bear trend is over. In bitcoin environment, the FOMO last year was a huge one and simply nothing apart from speculation and manipulation drove it, and those who were wise enough knew where that was heading. Similarly silver market also will find different trend in coming days for sure. We all must make use of current dumps as silver has many real time applications hence at anytime it may bounce back.

[atliens99]

I still think its a wise decision to keep part of your money in silver/gold. I I'm a strong supporter of cryptocurrency but if a serious natural disaster hits or an EMP the only type of currency that will have value are precious metals.  I know its unlikely but its better to be prepared just in case.

[SunJAB]

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.

The value of gold and silver has not changed much in recent years. In fact, e-money can bring investors a lot of revenue in the shortest possible time. Especially because investors use them and know how to manage them. Then new revenue has occurred.

[lubah]

Maximum, as can be compared bitcoin and silver, only by one criterion, that they are both assets. Bitcoin is considered by many to be a currency, but I fundamentally disagree with you. And the fact that the value is growing is a natural demand for the asset.

[agimat]

After the rise of gold, bad days for silver have already begun. Now the precious mine can revive.

Actually as what i have known gold is always valuable than silver, gold will increase its value everytime the same with the land or lot properties, bitcoin compare to silver, i rather choose bitcoin coz anytime will 3x your investment  anytime chances is near.

[Gash]

I don't think that Silver is losing to crypto right now. If this is the peak of bitcoin, then we can say yes, but crypto is also struggling as well so there's no correlation. Perhaps Silver price is down, but it not due to crypto and maybe silver investors are shifting their funds around to maybe Gold or other precious metals. Maybe this is just short term, as every class assets and market then we are aware of are currently down (stocks, crypto or even precious metals).

Yes u are right its because retromingent naysayers who are middle school dropouts with internet usernames like gecko, wolf of crypto etc ... who just recently joined crypto, they prod adults and mom and dad who they mooch off, to dump precious metals and crude for crypto for the sake of smart hedging. Conversely, titanic dumps in crude and gold is the beginning of forthcoming african fuel crisis.

[The Sceptical Chymist]

Yes u are right its because retromingent naysayers who are middle school dropouts with internet usernames like gecko, wolf of crypto etc ... who just recently joined crypto, they prod adults and mom and dad who they mooch off, to dump precious metals and crude for crypto for the sake of smart hedging. Conversely, titanic dumps in crude and gold is the beginning of forthcoming african fuel crisis.

This post is so bad, it's almost funny.  Also, for those who didn't know:  "retromingent" means an animal that urinates backwards, which I just discovered after looking it up.  LOL.

Fuck it.  I'm going to give this guy a merit for making me chuckle.

For the record, I don't think there's any sort of correlation between metals and bitcoin.  As I've written in other threads like this, metals are pretty dead right now, whereas bitcoin is very high (compared to a couple years ago and earlier) AND very volatile.  Some might think this indicates that it could be a good time to buy metals, but I disagree.  I think gold & silver are going to stay dead for quite some time to come.  Something really bad is going to have to happen politically or economically before they start to pop. 

[Fitrilalala]

I would prefer if you attached an article link. In my opinion,we cannot compare silver and Bitcoin that way. Silver is something material that is used in many things as you stated. Bitcoin is a virtual money if we can describe it that way. I don't see competition between the two, maybe Gold vs Bitcoin could be more interesting to compare but definitely not a relatively less valuable material vs Bitcoin.

yes im agree, there is no corelation between gold silver and cryptocurrency. I do think if really crypto makes silver price going down its just because investors are moving their money. Maybe they think crypto are more attractive than gold.

[Dimon8]

Precious metals (gold, silver) can not be compared with crypto-currencies, although for the price is speculative, the price always rises.

[Barcode_]

I don't think silver is losing its ground because of the rise of crypto-currencies, I believe there would always be investors who preferably choose to invest in the type of investment market that he is comfortable with, and I would say the trading market in silver is definitely not affected by crypto-currencies at all.

[cellard]

Please see this:




Silver is another victim of government phantom derivatives trickery. Please convince me that the powers that be aren't manipulating silver with their Futures Contracts and whatnot in order to scare holders and so on.

Do the same exercise of picking up a graph and looking at the peak price vs when the futures were added, you will see it's the same with gold, oil, uranium, and now bitcoin too.

The good news is bitcoin is different, they cannot sustain this forever, only a matter of time Bitcoin breaks the chains from the derivative government scams and we go to $100k+. It could take a couple of years, and this will be the test in which the people that understand the fundamentals get rich and the people that have no fucking clue get out and watch the ones that stay get rich.

[googs84]

I dont see any relation between any metal on the earth and the crypto currencies which came into existence just now. I do believe that there is little drift of investment from the real world assets to the crypto assets but it doest mean that its taking the whole bunch of investors back into the virtual reality. No, it doesnt work like that mate and neither there is so much crowd in the crypto because of which the silver investment has also got disrupted if ever the same investors are said to be taking their investment off from the silver. 

[ShineftChaos]

I dont see any relation between any metal on the earth and the crypto currencies which came into existence just now. I do believe that there is little drift of investment from the real world assets to the crypto assets but it doest mean that its taking the whole bunch of investors back into the virtual reality. No, it doesnt work like that mate and neither there is so much crowd in the crypto because of which the silver investment has also got disrupted if ever the same investors are said to be taking their investment off from the silver. 

Yes you are right, cryptocurrency and silvers or any metals like gold does not have a relation but maybe some of the business man who are investors of different assets are planning to switch into cryptocurrency and the demand for the market of jewelries or metals are decreasing.

[jhongzjhong]

Metal assets are still there, but those who invested metal are in government probably. Because they can afford to invest even the biggest amount and also they can't split these metals stone into small pieces, not like cryptocurrency even a single dollar you can buy. While cryptocurrency now is hot to the people they forget these metal stones as real assets. But it doesn't mean silver is losing ground.

[bangkit tri]

I dont see any relation between any metal on the earth and the crypto currencies which came into existence just now. I do believe that there is little drift of investment from the real world assets to the crypto assets but it doest mean that its taking the whole bunch of investors back into the virtual reality. No, it doesnt work like that mate and neither there is so much crowd in the crypto because of which the silver investment has also got disrupted if ever the same investors are said to be taking their investment off from the silver. 

Yes you are right, cryptocurrency and silvers or any metals like gold does not have a relation but maybe some of the business man who are investors of different assets are planning to switch into cryptocurrency and the demand for the market of jewelries or metals are decreasing.

they prefer bitcoin because it is seen as having a bright future and can provide greater profits. so many people assume that BTC is a profitable investment tool for the future compared to gold and silver

[omfg.xekcep]

Yeah, I also consider that silver is very undervalued comparing with gold, platinum, palladium but I am pretty sure that silver is not oversold out of appearance and rising of cryptocurrencies. In fact, I do not know objective reasons why silver is so undervalued comparing with gold but as soon as traders and investors begin buying silver I am absolutely sure its price will soar very high. Unfortunately I do not know when silver will begin growing so I do not invest in silver because I do not want to wait several months or even years to get an income. Moreover silver is a difficult asset because to bet on the growth of silver it need to buy a real metal or to open a silver deposit in a bank, or buy a special ETF on a stock exchange but all these assets are not convenient like cryptocurrencies.

[solkinsolali]

It is true that most of the precious stones including silver and gold are loosing ground due to cryptocurrencies. This is because the cryptocurrency although very risky, also yields a very high quick return on investment.

[timerland]

The silver standard is definitely a think of a past now.

Previously, money was literally associated with silver as an element, and it has always performed a similar function to gold.

I do think that bitcoin is going to take over, or replace many of the functions of precious metals as a currency. In the future, people seeking a hedge against the continued depreciation of government issued currencies will most likely favor bitcoin as a store of value instead of silver, or gold.

That doesn't mean that silver can't be a viable long term investment - it is probably still culturally significant to a lot of people around teh world, and will likely hold its value much better than fiat come a inflation crisis somewhere. Its industrial uses are obviously there as well, and it's unlikely they will be replaced, with silver being one of the best conductors of electricity. But bitcoin will be seen as a safe haven, just like silver, in the future, and silver's role as that may be diminished.

[aoluain]

The silver standard is definitely a think of a past now.

Previously, money was literally associated with silver as an element, and it has always performed a similar function to gold.

I do think that bitcoin is going to take over, or replace many of the functions of precious metals as a currency. In the future, people seeking a hedge against the continued depreciation of government issued currencies will most likely favor bitcoin as a store of value instead of silver, or gold.

That doesn't mean that silver can't be a viable long term investment - it is probably still culturally significant to a lot of people around teh world, and will likely hold its value much better than fiat come a inflation crisis somewhere. Its industrial uses are obviously there as well, and it's unlikely they will be replaced, with silver being one of the best conductors of electricity. But bitcoin will be seen as a safe haven, just like silver, in the future, and silver's role as that may be diminished.

I was just talking this point today with a friend. We both concluded that Bitcoin will be the #1 or #2
store of value, certainly taking over from silver and maybe gold.

Of course it is impossible to wear jewellery made of bitcoin or create a radioactive sun shield for a
space helmet out of bitcoin, meaning gold and silver will continue to have its uses in technological,
medical and space applications.