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Author Topic: Bullion Vs Cryptography  (Read 1365 times)
adamstgBit
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June 30, 2012, 11:30:27 AM
 #1

I stayed up all night watching videos / documentaries about how the US is about to loss its status as the world reserve currency, and all that jazz...
Now I'm looking at buying silver, as the video told me to do
but 5$ premium on each coin, 20$ of shipping.... 
can't i just keep my money safe using bitcoins, with bitcoin their is no premium, no shipping cost.   Smiley

What do you think,
Should i hold some silver along side my bitcoins?
Or just go all in on BTC

Also i didn't find any videos about Canadian dollars about to implode on its self. is my CAD safe from the same kind of hyperinflation. Maybe its my normalcy bias talking but, this can't really happen in Canada... or can it!  Shocked 


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bitdragon
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June 30, 2012, 11:50:04 AM
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All in on Bitcoin Smiley
I keep my Swiss francs to an absolute minimum.
I do have one Gold coin though from Grand dad Smiley




Piper67
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June 30, 2012, 11:57:26 AM
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The Canadian dollar is healthy, but the US is by far Canada's largest trading partner. If the USD plummets, the CAD will have to follow suit to some degree.
adamstgBit
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June 30, 2012, 12:25:04 PM
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The Canadian dollar is healthy, but the US is by far Canada's largest trading partner. If When the USD plummets, the CAD will have to follow suit to some degree.

FTFY  Tongue

and ya that makes scene. we will be affected because trade will be affected

waspoza
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June 30, 2012, 12:54:11 PM
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I have gold, silver and bitcoin. Roughly fifty-fifty between pms and btc. Safer that way i think.
dancupid
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June 30, 2012, 02:25:14 PM
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If you want a long term bet then bitcoin is the best choice.
If you want to store value and make a few % then anything other than fiat.
Rare postage stamps have increased in value 10% per year for the last 60 years or so(on average).
Any work by an established artist more than 30 years old is almost certain to be worth more in the future.
Pottery and ceramics will increase in value.
Rare wines?
Watches over 30 years old will increase in value.
Bitcoins are the easiest place to store wealth - followed by stamps (I don't own any stamps btw so don't take this as financial advice)
silverbox
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June 30, 2012, 02:56:27 PM
 #7

I stayed up all night watching videos / documentaries about how the US is about to loss its status as the world reserve currency, and all that jazz...
Now I'm looking at buying silver, as the video told me to do
but 5$ premium on each coin, 20$ of shipping.... 
can't i just keep my money safe using bitcoins, with bitcoin their is no premium, no shipping cost.   Smiley

What do you think,
Should i hold some silver along side my bitcoins?
Or just go all in on BTC

Also i didn't find any videos about Canadian dollars about to implode on its self. is my CAD safe from the same kind of hyperinflation. Maybe its my normalcy bias talking but, this can't really happen in Canada... or can it!  Shocked 



You can usually buy junk silver face to face on craigslist for spot.  Run an ad.
allten
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June 30, 2012, 03:02:41 PM
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Here's my 0.02 BTC

1) Diversification (not all your eggs in one basket). they are selling silver on bitmit.net
2) Always take possession of the physical unless you think you will trade often.
    The precious metals prices are basically fiat because the paper vs. physical is astounding.
     Many hope, as do i, these shenanigans will come to an end one way or another and the
     real price discovery to take place.
3) The air does smell of a deflationary down turn because of all the debt. Best buy
     some metals now and save a chunk for buying later.


    

Realpra
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July 01, 2012, 12:35:09 PM
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Now I'm looking at buying silver, as the video told me to do
but 5$ premium on each coin, 20$ of shipping.... 
can't i just keep my money safe using bitcoins, with bitcoin their is no premium, no shipping cost.   Smiley
When I thought about buying silver I found a kilo gram bar of it on something akin to ebay, but for my country.

Out of 1000$ value I would have had to pay 20-40$ over spot = tops 4%.

That's about what you pay moving fiat into BTC anyway Wink

Very nice simple way of doing it for small amounts.

Cheap and sexy Bitcoin card/hardware wallet, buy here:
http://BlochsTech.com
ElectricMucus
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July 01, 2012, 07:34:46 PM
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Honestly, just buy Gold if you get PM. In the US it is less of an issue but in Europe there are taxes on Silver and not Gold.
But furthermore the premium on gold is much lower and it has a better hedge property against bitcoin devaluation.

Bitcoin depends on the infrastructure and silver on the industry. If one collapses so does the other... Gold however will shine in that scenario.. Gold is more densely packed value, etc...
If you are rich get 1 oz bullion, if not get fractionals

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
TTBit
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July 02, 2012, 01:41:49 PM
 #11

Keep in mind you could/should be able to get a premium to spot when selling well recognized gold coins.

Example: APMEX.com is posting a buy price of 1oz US eagles (random year) for $1631.10 and a sell price of 1665.09 with spot at $1595.10. In this case, its only a 2.1% premium if buying at $1,665.09.


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byronbb
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July 04, 2012, 04:06:19 AM
 #12

Get some nice canadian silver dollars.  They are 80 % silver and all will be in very good condition as while they were in circulation as legal tender almost all were kept in the sock drawer.

hazek
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July 04, 2012, 08:46:38 PM
 #13

If it was me I'd have my savings in: 85% in gold, 5% in silver and 10% in BTC

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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