Topic: Gold collapsing. Bitcoin UP. - page 1211. (Read 2032266 times)

Estonia. They are the only country in the EU without VAT on silver. I think forum member rpietila can confirm this.

truth is indeed stranger than fiction

http://www.forbes.com/sites/beltway/2013/01/08/is-the-trillion-dollar-platinum-coin-clever-or-insane/

What? This sounds like the weirdest thing ever. Why would that even be decided on and recorded?

Where do you people from EU buy physical silver. We have 22% tax, so I buy it in Germany - 7% tax. But after new year, tax will go up in Germany too.

Where will be best place to buy physical silver next year in EU?

The ledger of the gubermint can be changed at will, other than the restriction by some obscure laws, without the backing of real computing power/energy.

now that right there is funny

Not exactly - because of an obscure clause in U.S. commemorative coin legislation, only platinum can be used to make the fabled "quadrillion dollar coin." So, no other metal has this property 

EDIT: Based on my likely unreliable memory and understanding of the legislation. Also, because Paul Krugman said so (so it must be so)

If anything it makes you understanding what fiat really is-debt.

All other metals have this property.

It seems people have forgot about the unique thing about platinum: besides its widely uses in the auto industry, it is the only metal where the U.S. goverment can use to pay off ALL its obligations overnight, by minting a 1oz proof platinum coin with the denomination of 1 quadrillion USD. No other metal has this property.

Regulatory indecision was the sideshow: war is coming.

At this point, I think Bitcoin can act as its own closed economy... barely. Now we'll get to see which underhanded tactics are brought to bear - I think we've not seen the big guns so far.

Oh, and sure gold has been overshadowed and won't have as high a percentage growth as Bitcoin, but don't count it out yet. One word: transition!

Satoshi by current estimates already is one.

I was mainly a lurker, but it has been a hell of a ride anyway.

So, next question is: when will we have the first billionaire (in $) in this thread?

Well said, cypherdoc. 

We have an unbelievable opportunity with bitcoin to make positive change in our world and leave behind something better for our children.

FTFY

thanks for the kudos guys.

i really don't have anything profound to say except that it's been a long, hard journey though there has never been any question in my mind this would happen.  it's great to see Bitcoin coming into its own and i believe we've only just gotten started. the next task is for all the exchanges to get up and over the top of gold and stay there.  we could have some oscillating around the gold price for a while but it's inevitable that Bitcoin moves permanently to new highs and takes the throne of real global money and as the currency of the digital age.

i still feel that there is a small segment of my generation of Boomers that has abrogated its responsibility to leave a world behind us better than the one we've created.  our leaders and financial elite continue to rack up unsustainable amounts of debt and debase our currency for their own benefit and that has always made me angry.  you have to be a parent to understand the lengths one will go to protect one's children.  the good news is that there are plenty of Boomers who feel like me and are going to throw their financial might behind the younger generation of developers and coders who are going to help refine Bitcoin and make it possible for all of us to opt out of the fiat system.  for that is the only way to achieve this as Balaji Srinivasan has so eloquently described.  it's because our voices continue to be ignored.

i'm honoured to be a part of a community filled with such highly motivated and intelligent individuals.  we are all going to change the world of finance forever.

My purchase of 150kg of silver was in September. Guess it cost me a whole lot BTC's...

In the future, silver is still my favorite over gold, but I don't know where to get enough of it

I believe silver has enormous upside myself.  I expect to witness the ratio return to the 16:1 area.

I am curious whether bitcoin people that are also into PMs now generally prefer gold or silver.  

I know silver tends to be the more volatile version of gold, so if you expect gold to go down, silver could go down harder.

But as a hedge against crypto-failure or just because some people might always want something solid in their hands, silver somehow makes more sense to me in a world in which cryptos are competing for sound money status, because of its lower amount of "moneyness", and greater amount of industrial usage.