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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1806574 times)
silverbox
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July 31, 2012, 02:35:10 PM
 #2601

I've noticed that silver seems to trade the phyzz at $33ish during this whole time spot has been 26-28..  Thats a pretty large markup, I wonder if were starting to see the beginning of a physical to spot price disparity.  I haven't checked the markup on the big bags ($1000 face) of junk silver thu, they might have been closer to spot..

I have been buying at spot prices since we went under $30 from my local coin shop.  Anything with a $5 markup is a numi coin.

1 oz American Eagles at spot?

Or junk silver at spot? (+ sales tax)?

I just looked even the big bags had about a 5% markup.  It used to sell for almost exactly spot.
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July 31, 2012, 02:42:42 PM
 #2602

I've noticed that silver seems to trade the phyzz at $33ish during this whole time spot has been 26-28..  Thats a pretty large markup, I wonder if were starting to see the beginning of a physical to spot price disparity.  I haven't checked the markup on the big bags ($1000 face) of junk silver thu, they might have been closer to spot..

I have been buying at spot prices since we went under $30 from my local coin shop.  Anything with a $5 markup is a numi coin.

1 oz American Eagles at spot?

Or junk silver at spot? (+ sales tax)?

I just looked even the big bags had about a 5% markup.  It used to sell for almost exactly spot.

I got 1 oz Eagles at spot plus 2.99.  I got a 1 kilo coin for 1.99 over spot.  I got Junk for spot (A few dollars here and there no big bags).  Sales tax applies to purchases under $1000... just my experiences.
cypherdoc
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July 31, 2012, 02:48:24 PM
 #2603

no conspiracy here.
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July 31, 2012, 05:45:37 PM
 #2604

this thread was started 3/13

Bitcoin  5.40

Gold 1690.


today 7/31

Bitcoin 9.29  (up ~72%)

Gold 1618  (down ~4%)

BTC is closing in on the 2 bagger, Gold is inching back to parity.  BTC is outperforming gold.


GLD 157 (cyp sh @ 152 154 avg cost)  (Woot cypher covered!!) (this one can leave the update Wink)

GPL 1.65  (Silver lg  @ 1.98)  (Double down may be needed Wink)



FTFY

Translation:  Bitcoin is kicking gold's ass.
tvbcof
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July 31, 2012, 07:19:10 PM
 #2605


Translation:  Bitcoin is kicking gold's ass.

If one uses gold and Bitcoin for two different purposes, this is not particularly the case.  A pitchfork kicks ass on a shovel for moving hay whereas the same shovel kicks ass on the pitchfork for moving dirt.

Bitcoin and gold are both on an appropriate trajectory to meet the demands I place on them respectively.  In a good world I will never need to test gold.

I consider Bitcoin a win at $60/BTC within the next few years.  That is about 10x my investment and is the rate I want to see given the volatility and various risks.  The good news is that we are looking promising there, and the possibility for a jackpot ($1000's/BTC) is as real as ever.

I also consider Bitcoin to be a win if it helps me perform a variety of difficult financial actions.  Similar to gold, I hope for world where this never needs to be tested.

BTW, 10x is cool, but not especially unheard of.  I would have/could have had it with silver if I would have chosen to take it.  Like silver I bet that I won't take it in any quantity with Bitcoin even if it is offered.  Just depends on the conditions at the time.


dopamine
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August 01, 2012, 02:25:23 AM
 #2606

Anyone think silver will reach $50 for 1 troy oz before bitcoins reaches all time high of just under $32 per BTC

Sometimes I think about going all in on BTC, its so undervalued that silver may not be the safe haven that people claim it to be. But I do believe that Silver and bitcoin will have a 1:1 ratio.

Silver 27.91 @ spot
BTC 9.43

Silver/BTC ratio 2.95

 

Bitcoinica still has not given me 50% of my claim of 600 BTC
INTERSANGO can go down with bitcoinica for abandoning customers
Alberto Armandi is a SCAMMER
smoothie
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August 01, 2012, 02:45:02 AM
 #2607

Anyone think silver will reach $50 for 1 troy oz before bitcoins reaches all time high of just under $32 per BTC

Sometimes I think about going all in on BTC, its so undervalued that silver may not be the safe haven that people claim it to be. But I do believe that Silver and bitcoin will have a 1:1 ratio.

Silver 27.91 @ spot
BTC 9.43

Silver/BTC ratio 2.95

 

I think you will see a parity once again with silver...and possibly pass it before silver goes to $50+

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adamstgBit
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August 01, 2012, 03:04:11 AM
 #2608

Anyone think silver will reach $50 for 1 troy oz before bitcoins reaches all time high of just under $32 per BTC

Sometimes I think about going all in on BTC, its so undervalued that silver may not be the safe haven that people claim it to be. But I do believe that Silver and bitcoin will have a 1:1 ratio.

Silver 27.91 @ spot
BTC 9.43

Silver/BTC ratio 2.95

 

I think you will see a parity once again with silver...and possibly pass it before silver goes to $50+

I think we'll see a big drop in PM's and a HUGE epic rise in bitcoin.
if you do not fear inflation with your currency why hold PM's?

its kinda like holding on to your sea shells after gold is discovered.

miscreanity
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August 01, 2012, 05:32:13 AM
 #2609

Anyone think silver will reach $50 for 1 troy oz before bitcoins reaches all time high of just under $32 per BTC

Sometimes I think about going all in on BTC, its so undervalued that silver may not be the safe haven that people claim it to be. But I do believe that Silver and bitcoin will have a 1:1 ratio.

Silver 27.91 @ spot
BTC 9.43

Silver/BTC ratio 2.95

There's a great analysis of silver that was recently posted at TF Metals.

Even with the points made there, Bitcoin will outperform every other form of money in existence right now. It's also the only way small investors can get in at such a low level. If another fiat currency were introduced, it would instantly be set at a level against other known currencies, much like the Facebook IPO that fell all over itself due to being overvalued. Aside from Bitcoin, only gold and silver offer both explosive return and financial insurance against systemic failure.

It's very likely that there will be a short spike down in the monetary metals before they confirm the recent breakout and have a rise similar to Bitcoin's during the last two months. Of course, with multiple Pirate-like operations going, Bitcoin should continue to steadily rise in value. If there are any major shocks to the traditional financial markets, a greater than normal flow might enter Bitcoin and cause a spike (or a series of spikes) similar to the $9+ a couple of weeks ago.
jojo69
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August 01, 2012, 05:37:14 AM
 #2610

^ LOL, another Turdite

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
miscreanity
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August 01, 2012, 05:47:32 AM
 #2611

I think we'll see a big drop in PM's and a HUGE epic rise in bitcoin.
if you do not fear inflation with your currency why hold PM's?

its kinda like holding on to your sea shells after gold is discovered.

Yes, but over what timeframe?

While Bitcoin does outclass gold in some ways, it won't be able to completely supplant the metal until communications networks are as resilient as distributed networks. That means meshnets must become ubiquitous. Even then, the final vestige of gold probably won't be released until supply is called into question.

Inflation is the superficial fear. The deeper, more substantial threat is counterparty risk - the danger of trust being broken in custodians of assets. For at least the next few years, both the monetary precious metals and Bitcoin will offer the best protection of all financial assets.
adamstgBit
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August 01, 2012, 06:41:49 AM
 #2612

I think we'll see a big drop in PM's and a HUGE epic rise in bitcoin.
if you do not fear inflation with your currency why hold PM's?

its kinda like holding on to your sea shells after gold is discovered.

Yes, but over what timeframe?

While Bitcoin does outclass gold in some ways, it won't be able to completely supplant the metal until communications networks are as resilient as distributed networks. That means meshnets must become ubiquitous. Even then, the final vestige of gold probably won't be released until supply is called into question.

Inflation is the superficial fear. The deeper, more substantial threat is counterparty risk - the danger of trust being broken in custodians of assets. For at least the next few years, both the monetary precious metals and Bitcoin will offer the best protection of all financial assets.

timeframe, 10 years

All PM used as a store of value, will loss value... gold will be hit hardest.

1 Bitcoin will be worth 1/21,000,000th of all the worlds wealth ( more or less )

notme
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August 01, 2012, 06:45:12 AM
 #2613

I think we'll see a big drop in PM's and a HUGE epic rise in bitcoin.
if you do not fear inflation with your currency why hold PM's?

its kinda like holding on to your sea shells after gold is discovered.

Yes, but over what timeframe?

While Bitcoin does outclass gold in some ways, it won't be able to completely supplant the metal until communications networks are as resilient as distributed networks. That means meshnets must become ubiquitous. Even then, the final vestige of gold probably won't be released until supply is called into question.

Inflation is the superficial fear. The deeper, more substantial threat is counterparty risk - the danger of trust being broken in custodians of assets. For at least the next few years, both the monetary precious metals and Bitcoin will offer the best protection of all financial assets.

timeframe, 10 years

All PM used as a store of value, will loss value... gold will be hit hardest.

1 Bitcoin will be worth 1/21,000,000th of all the worlds wealth ( more or less )

10 years is a little ambitious for bitcoin to dominate.  And yet you keep insisting we'll correct to 8 soon Roll Eyes.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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adamstgBit
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August 01, 2012, 06:48:45 AM
 #2614

I think we'll see a big drop in PM's and a HUGE epic rise in bitcoin.
if you do not fear inflation with your currency why hold PM's?

its kinda like holding on to your sea shells after gold is discovered.

Yes, but over what timeframe?

While Bitcoin does outclass gold in some ways, it won't be able to completely supplant the metal until communications networks are as resilient as distributed networks. That means meshnets must become ubiquitous. Even then, the final vestige of gold probably won't be released until supply is called into question.

Inflation is the superficial fear. The deeper, more substantial threat is counterparty risk - the danger of trust being broken in custodians of assets. For at least the next few years, both the monetary precious metals and Bitcoin will offer the best protection of all financial assets.

timeframe, 10 years

All PM used as a store of value, will loss value... gold will be hit hardest.

1 Bitcoin will be worth 1/21,000,000th of all the worlds wealth ( more or less )

10 years is a little ambitious for bitcoin to dominate.  And yet you keep insisting we'll correct to 8 soon Roll Eyes.

can't i have my cake and eat it too  Cry

molecular
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August 01, 2012, 09:24:06 AM
 #2615

I think we'll see a big drop in PM's and a HUGE epic rise in bitcoin.
if you do not fear inflation with your currency why hold PM's?

its kinda like holding on to your sea shells after gold is discovered.

haha, good one. Problem might occur if people still trust the sea shells more than your new-fangled gold that has no long monetary history.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
cypherdoc
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August 01, 2012, 01:52:33 PM
 #2616

gold doesn't seem to be doing so well today. Wink
silverbox
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August 01, 2012, 02:47:05 PM
 #2617

gold doesn't seem to be doing so well today. Wink

you covered too soon!! Wink

Maybe the fed will suprise us Wink, everyone thinks they won't do anything.
notme
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August 01, 2012, 04:16:26 PM
 #2618

gold doesn't seem to be doing so well today. Wink

you covered too soon!! Wink

Maybe the fed will suprise us Wink, everyone thinks they won't do anything.

If everyone thinks they won't do anything, why did the markets ramp?  It certainly wasn't good economic data.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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cypherdoc
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August 01, 2012, 04:35:23 PM
 #2619

gold doesn't seem to be doing so well today. Wink

you covered too soon!! Wink

Maybe the fed will suprise us Wink, everyone thinks they won't do anything.

don't forget i still have my DZZ and ZSL!
cypherdoc
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August 01, 2012, 08:35:42 PM
 #2620

silverbox update:

gold:  -6%

Bitcoin:  +77%

difference: +83% advantage Bitcoin

silverbox's long GPL:  -13%

Fed fails to surprise aka NO WHITE HORSE.
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