I am glad I purchased generic bullion at $48 per ounce at silvers last peak . It humbled me & gave me an understanding of silver . Hence as silver ebbs up and down well under $20 dare I say $30 it has a wile to go till I feel it would be excessive in price once more Yet if indeed silver climbs slow but sure up . What price do you all consider not purchasing our old friend I worked hard to average out my stack & will not want to average it back up Unless a future up is $100 per OZ
Let us survive for future and see, i buy in a closed eyes and doing it slowly for silver. Max 12% of my holdings are silver, i started to increase it to 20%. In our local sellers, i have no option but to buy few ounces at 23-24USD/oz. Less headache and waiting. If they increase it against spot, i will just buy a bargain ticket and fly to HK or Macau to enjoy a tea then buy minimum of 100oz.
Do not consider selling silver untill it hits $200/oz. Mark my words as it will be there during next 10 years.
I could generate digital monopoly money that, on paper, exceeds the world's silver and gold markets combined.
That's not the point and you know it. Bitcoin is currently irrelevant to the larger global economy, no matter how much the virtual currency is worth to those who use it. Bitcoin could disappear tomorrow, or it could double in value, and there would be zero impact on the global economic system. Gold and silver are physical and historically important. Any significant move in precious metals certainly would cause some ripples compared to corresponding moves in the price of bitcoin. Or maybe you want to explain exactly how the price of bread is tied to bitcoin?
Or more importantly, if the price of gold or silver moved the bread price in the early 1980s. Or at any other time in history?
It's about the buying power of fiat and the economic conditions that could cause a massive spike in the price of precious metals. It is speculated that there would be something seriously wrong (economically) and the impact would be felt across a range of goods.
That could happen too. They are not mutually exclusive scenarios. One does not negate the other. We just don't know what will happen.
That was the point - you, I, anyone could generate digital monopoly money, for which there is likely to be no market demand, and hence no influence or impact on other markets. I think we're in agreement. P.S should we call it "breadcoin" ?
Has anyone suggest a crypto-currency backed by something like 1966 round 50s? I think there was a gold-backed one suggested at one stage.
