This time its different. Silver to $40+

kjimmy said:
Some forewarning and advice. BTC is the worlds biggest Ponzi scheme, it’s failed tech and double spend occurred on 21 Jan 2021 no one can trust this blockchain now. Once Craig Wright enforces injunctions on exchanges for using his Bitcoin name the entire crypto ecosystem will collapse. Keep track of this weeks court case, and letters sent to all exchanges. Biggest shit show the world will see, many will lose life savings. Use google for more information and decide to get yuu ok r money off exchanges. Metals is a good play. Watch
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Welcome to the forum.
So I take it you have good reason to believe Craig Wright is Satoshi Nakamoto?

How would the removal of the Bitcoin white paper from the exchanges "collapse the entire crypto ecosystem"? Just interested in the logic behind your argument. Like Hillary Clinton blurted (and infuriatingly, got away with), "What difference, at this point, does it make?"

(Here's what I got googling..
https://news.bitcoin.com/crypto-patent-alliance-questions-craig-wrights-white-paper-copyright-claim/
https://cryptoslate.com/crypto-fund-which-says-craig-wright-is-satoshi-gives-update-on-legal-battle/
https://craigwright.net/blog/bitcoin-blockchain-tech/bitcoin-white-paper-statement-of-jan-29-2021/
https://www.lexology.com/library/detail.aspx?g=b8dfb344-ba0c-4f85-ad18-0dfe620066fa)
 
@heartastack thanks for the welcome. I created the acc as I love metals and have enjoyed this community and have been inspired by you all so thank you all. So I saw some BTC posts and wanted to share some thoughts as there are many bad actors in the game.

@sgbuyer yes agree with you BTC is riskier than Tesla although both are.

Great research @jultorsk. Regarding your research - This week will be enlightening to all. It’s information publicly available.

I’m looking forward to sharing, learning and contributing on the forum. Thank you all
 
Today, I was wondering about the news that bitcoin exceeded $1 trillion market cap. The question, is what is the market cap of paper or investment gold? While the total amount of gold mined is in the trillions, a lot of it is in temples (in india), in central bank reserves that is usually never sold, in the form of jewellery kept by the wife that will usually also never be sold in normal circumstances. So, the amount of investment gold is way much less than the amount mined. The same logic applies to silver where investment silver is about 3-4 billion ounces or less. For gold, GLD has a mkt cap of $66 billion, so even if you consider gold bullion hoarded by private investors, yes, these are not paper gold, the total amount hoarded and probably will never be sold, is not more than $500 billion. In this sense, the market cap of bitcoin has probably already exceeded investment and paper gold.

With such a large market cap, and because it is paper, bitcoin has become a security, a stock, same like tesla, a bubble so to speak. It has already exceeded the market cap of a store of value. A bubble has no limits to the value, since it's a bubble.
 
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Bitcoin is absurd. It's worthless. The Fed should buy a lot of Bitcoin to pump up the market cap, then pay off the 28 trillion national debt with Bitcoin :D

If only Jim Jong Un knew this - he could have bought up a half of the Bitcoin market, then he would have gotten North Korea out of the economic mess by transforming it over night into a Singapore by selling the overvalued Bitcoin. Yes, I'm joking :D
 
Musk pumping bitcoin and then buying 1.5bil reminds me of the companies that bought bond containing their own name risk. At the point at which the asset was needed to prevent insolvency it was worthless because the bond values only existed while the was no credit default. Bitcoin is now linked to Tesla. What he does will move it up and down.if it’s clear Musk needs to sell bitcoin. That will reduce the value of bitcoin.
 
President Trump said:
Bitcoin is now linked to Tesla. What he does will move it up and down.if it’s clear Musk needs to sell bitcoin. That will reduce the value of bitcoin.
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You need to get your facts right.

BTC is not linked to Tesla, Tesla's position equals about 1/1000 of the total market cap of BTC at the moment.

If Musk needs to sell BTC he won't do it on an exchange. He'll go through a broker and arrange an agreed price. The sale of Tesla's BTC will unlikely have any effect on the price of BTC because as I said he owns about 1/1000 of the total current market cap. So there's still all the other players who own the other 999/1000ths.

Not that he will sell any of them because these companies are buying them to protect their treasuries, not to flip them for a profit.

And Musk is likely using the revenue from the sale of government credits to fund them.
 
Of course Tesla is now linked to BTC. Anyone that has ever owned or thought about owning BTC knows he bought $1.5bil. His purchase pushed the price up significantly. But yeah I better get my facts straight and I better remember that BTC will only ever being going up especially if it’s needed by Tesla as a reserve asset. And of course Tesla would never need a reserve asset anyway the BTC is just there for giggles. @mmm....shiney!
 
Tesla down, Bitcoin down, Silver down.
Now which of those is the better buy now it has fallen?
I like them all, but there is only one I buy at the moment.
 
Still lots of silver as far as I can see, only slightly higher premiums. maybe if silver drops back to $17-$19, stock will run out. It's still a possibility, depends on the stock market. :D
 
President Trump said:
Tesla down, Bitcoin down, Silver down.
Now which of those is the better buy now it has fallen?
I like them all, but there is only one I buy at the moment.
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None of the 3 are good buys at current price. Better play pandemic hit and rare earth stocks. There are still good value but the best, risk free names have already taken off. I've been buying those since October but not as aggressively as I wished today. Especially for rare earth. Coal, oil and many reits still 20-70% below 2019 prices.
 
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President Trump said:
Tesla down, Bitcoin down, Silver down.
Now which of those is the better buy now it has fallen?
I like them all, but there is only one I buy at the moment.
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On the market open the 10 year yield seems to be heading upwards after starting lower on the weekend.
10year yeild.JPG

Its my perception that it spiking last week helped trigger a sell off for the above (Bitcoin and Crypto had other reasons as well)
 
Yes headline and news telling people to believe that big amounts of money flowing into bonds, if you compare with market from bottom in February it’s moving the same way. I disagree with news and your ideas
 
I'm reviving this thread for the next leg up in silver. I started this thread on 23 June 2020 when silver was at USD17.86 and had recovered from a spike down to USD11 in March. I predicted $40+ although we had not seen any price above USD22 since 2013. By 7 August we touched USD 29.84 (That was AUD41.20) and we looked to be heading to USD40 fast.
I'm back to make another prediction (this is not financial advice) that this current run up has legs and will break USD40 in the next few months. The Fed is soon tapering (but the damage has been done) and inflation in the USA will be difficult to manage. The spoofing that has been keeping prices low will be less profitable now (because there are layers of support levels) and volumes are now higher. The action taken by the banks with the support of the CFTC to "tamp down" silver prices may not be open for repeat, given the publicity from the first iteration. The one risk is a deflationary event such as a stock market correction. I have hedged my silver positions with a short on the S&P500. I had expected the SP500 to go higher but so far it has been dropping as the silver price goes up meaning that so far the hedge is not costing anything, its also profitable although I don't expect this to continue. I'm just sharing, obviously do your own thing.
 
they were not allow to stay 30 overnight, so we are at 25 usd
let see how it will bee
 
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