While Schiff knows his economics and history, he knows very little about bitcoin (I listen to his radio show every day). Anyway, there's no reason to substitute your precious metal for bitcoins. Diversification is good thing.
Careful! Last bloke that made a prediction like that said that you would never again be able to buy 1kg silver sub-$1000.
https://btc-e.com/news/185 I bit of a stir up today on btc-e.com when announced they would delist FTC and TRC at the end of the year. FTC prices fell like a rock but rebounded once btc-e amended the announcement to say they would keep FTC https://btc-e.com/exchange/ftc_btc Just makes me think once LTC goes live on MtGox the LTC price will really surge
Best to stay on the sidelines (and lose out on "massive" profits) than become fodder for the early adopters.
I can guarantee you'll start to see the same people who bought silver at the peak gravitate over to BTC in the future.
Is anyone actually selling any BTC by the way? Only 1 or 2. You send tonight, I'll do bank transfer tonight - obviously you won't get cash until that goes through.
You know a lot of the earlier adopters of bitcoin were and are also PMs holders right? Stop acting like stackers are somehow less able to figure things out, makes you look stupid. The reality is a PM holder is more inclined to want bitcoins than anyone.
"Pyramid sceme" - It is bullish for Bitcoin that not even Schiff understands it. Look at a long term Bitcoin chart. There are plenty of "Bitcoin bubbles". It is a young and volatile currency. "it's in a bubble...I have no idea where the top is" - Bravo Peter, join the club. Schiff goes on about people getting into Bitcoin later than others and getting profited from by earlier traders ..but how is this any different to buying gold or silver at prices higher than other people did a month before?. If gold is $1800, is Schiff going to advise people to stop buying gold. NO WAY. :lol:
What makes you think I like you enough to do that exactly? I'm too smart with my money to gamble with a bubble, smart money is not the reason it's surging upwards. I'll catch the next wave hopefully.
Haha. Fully out of BTC. Got some LTC, but wanting the BTC to trade into LTC I think that's the next run up