ClickStack
New Member
Should we stay loyal to silver or is BitCoin doing what we've been expecting from Silver and we should take next opportunity to re-position in BitCoin?
Is BitCoin the new Silver?
- Thread starter ClickStack
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Silver is a primarily a working metal, bitcoin is primarily a speculative currency.
As long as it's not hacked, bitcoin will go up as it is limited. Where as silver or gold will not run out ie infinite supply in our life time. If silver become, $50, $100, $200 an ounce, many mines that was closed as uneconomical will open up making more silver available.
The thing I worry about bitcoin is that it is one hack away and people will lose confidence and being a virtual currency it has virtually nothing backing it.
Having said that few dollars I spent ten years ago, is now a significant sum.
As long as it's not hacked, bitcoin will go up as it is limited. Where as silver or gold will not run out ie infinite supply in our life time. If silver become, $50, $100, $200 an ounce, many mines that was closed as uneconomical will open up making more silver available.
The thing I worry about bitcoin is that it is one hack away and people will lose confidence and being a virtual currency it has virtually nothing backing it.
Having said that few dollars I spent ten years ago, is now a significant sum.
Bitcoin is backed by nothing whereas silver is backed by itself.
SilverDJ
Well-Known Member
Why are they even remotely compared?
If you are going to compare then compare gold to bitcoin. Silver is nothing compared to gold in terms of safe haven asset or other such metric.