Bitcoin under attack by Crypto Hacker.? 5400 btc stolen?
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Load of Bullion
Well-Known Member
Bullion Baron said:Once Gold/Silver go from a few cents value to $1000 in the space of a few years (or equivalent from current prices) then I'd be wary the early adopters are probably stepping out as millionaires and dumping the metal on suckers tooLoad of Bullion said:
Gold and but particularly silver is capable of skyrocketing in price.I think we agree.
Some people on this forum brought silver in the 40's!!!!!but look at the chart below for a classic "bubble" formation.
Load of Bullion
Well-Known Member
Bullion Baron said:
You still have the early adopters and the "greater fools" though. Thats when the lines form outside the bullion stores with speculators. I remember them.
beeteecee said:
Are you aware there is an infinite amount of electricity, and therefore infinite amount of 0 & 1 that can be used to create infinite amount of digital currencies.
Yes bitcoin his hard to hack and hard to produce. But Gold is a trillion+ times harder to create and the probability of a gold meteor falling here is not even worth calculating.
So you can be guaranteed gold will still hold its value in 100, 1000, or 1 million years. Unless stars start exploding all around us and showers the earth with gold, but if that happens the value of gold will be the least of your worries
Certainly I can understand that, but the limiting factor there is going to be hardware. I get what you're implying of course, but as someone all-in on btc, I can tell you that the alt-coins are not a bother and they're actually complimentary & beneficial. Maybe a governmentcoin will come along, I can't deny. The issue is that metalzzz, and now you, empirically stated that their gold will be worth something in 100 years and on. Depends what "something" is.leo25 said:Are you aware there is an infinite amount of electricity, and therefore infinite amount of 0 & 1 that can be used to create infinite amount of digital currencies.
Yes bitcoin his hard to hack and hard to produce. But Gold is a trillion+ times harder to create and the probability of a gold meteor falling here is not even worth calculating.
So you can be guaranteed gold will still hold its value in 100, 1000, or 1 million years. Unless stars start exploding all around us and showers the earth with gold, but if that happens the value of gold will be the least of your worries
People put their aluminium in vaults too, how did that work out for them? I hope they didn't tell everyone their aluminium would be worth something in a million years, eh. Regardless how whacky space exploration (not meteors falling to earth) may seem to you, it doesn't make it not exist. I'm not going to push the point because I'm sure it's provocative behaviour on a PM forum, and I'll probably be dead when it comes to that time anyway. But it never hurts to do your research on what the future has in store.
Bullion Baron said:Once Gold/Silver go from a few cents value to $1000 in the space of a few years (or equivalent from current prices) then I'd be wary the early adopters are probably stepping out as millionaires and dumping the metal on suckers tooLoad of Bullion said:
Cat among the pigeons time... gold on 14th August 1971 was $35.00/oz. Or, 3500 cents. Nine years later it was worth $850, to be sure, that's shy of your $1000, but it's close.
Things that make you go "Hmmmm..."?
metalzzz said:
No.
Getting around 50c to $2 for every kilogram of gold you own is not better than nothing, as even fiat doesn't depreciate that quickly. My own gold stack would be worth a fraction of a cent. That would be useless to me, and only serve to remind me that I made a bad choice.
metalzzz
Well-Known Member
Hahahahah $1 per kilo.
Maybe Greenspan is off his tree about the intrinsic value of bitcoin too!
http://m.smh.com.au/business/bitcoi...-fed-chief-alan-greenspan-20131205-2yrs8.html
Former Federal Reserve Chairman Alan Greenspan said Bitcoin is a bubble after it surged 89-fold in a year and that the virtual money isn't currency.
"It's a bubble," Greenspan, 87, said in a Bloomberg Television interview from Washington. "It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven't been able to do it. Maybe somebody else can."
Maybe Greenspan is off his tree about the intrinsic value of bitcoin too!
http://m.smh.com.au/business/bitcoi...-fed-chief-alan-greenspan-20131205-2yrs8.html
Former Federal Reserve Chairman Alan Greenspan said Bitcoin is a bubble after it surged 89-fold in a year and that the virtual money isn't currency.
"It's a bubble," Greenspan, 87, said in a Bloomberg Television interview from Washington. "It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven't been able to do it. Maybe somebody else can."
pro$pector
New Member
...because 87 year old ex Fed Reserve chairman's are always at the forefront of Tech speculation and investment. :lol:
metalzzz
Well-Known Member
Midnight Man said:Bullion Baron said:Once Gold/Silver go from a few cents value to $1000 in the space of a few years (or equivalent from current prices) then I'd be wary the early adopters are probably stepping out as millionaires and dumping the metal on suckers tooLoad of Bullion said:
Cat among the pigeons time... gold on 14th August 1971 was $35.00/oz. Or, 3500 cents. Nine years later it was worth $850, to be sure, that's shy of your $1000, but it's close.
Things that make you go "Hmmmm..."?
Bitcoin started at 1c - 2c and now it's at $1200
If you want to compare bottoms to tops, bitcoin is light years ahead
Sorry bro
beeteecee said:
Your point about Aluminium is pointless as it has no relation to gold. Aluminium is very abundant on the earth, Gold is not. So over time more Aluminium could be mined and thus the value can drop, where as more Gold cannot be easely mined.
Aluminium is the third most abundant element on earth.
44,900,000 tonnes of Aluminium vs 2,700 tonnes of Gold mined in a year. This my friend is the reason why Gold will have value for as long as this earth around. Unlike Aluminium, Tulips or bitcoins.
http://en.wikipedia.org/wiki/Abundance_of_elements_in_Earth's_crust
pro$pector
New Member
metalzzz said:
Under 1c actually "bro".
Aluminium used to be a precious metal. The Washington Monument is capped with an aluminium pyramid - it was almost going to be silver but aluminium was considered more valuable at the time. True story bro.