[POLL] when will 1 BTC be worth 1 oz of silver? - page 2.

ingrownpocket

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Quote from: ElectricMucus on January 17, 2013, 01:27:23 PM

Quote from: mccorvic on January 17, 2013, 01:15:49 PM

Quote from: Chalkbot on January 17, 2013, 01:02:35 PM

See? This is why bitcoin will beat silver. The barrier to entry on the silver market is too high! We can't even figure out how much an ounce of silver is! At least we know 1 bitcoin is 1 bitcoin, there are no regional interpretations like, in Canada, 1 bitcoin is actually 1.125 BTC.

This +1

-1
Has nothing to do with the barrier of entry, just that some ignorant nobody doesn't know how much a troy ounce is doesn't mean that he'll get anything else than everybody when he buys "an ounce" of silver.

What really matters is if those who would be interested in the investment have the cash to acquire it. And they know what they get.
With silver that is definitely the case, historically, with bitcoin it is uncertain, although it could surpass it someday.

I'm sure you know everything about everything in the entire universe.

julz

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Quote from: Chalkbot on January 17, 2013, 01:02:35 PM

See? This is why bitcoin will beat silver. The barrier to entry on the silver market is too high! We can't even figure out how much an ounce of silver is! At least we know 1 bitcoin is 1 bitcoin, there are no regional interpretations like, in Canada, 1 bitcoin is actually 1.125 BTC.

well yeah.. except that 1 Casascius Bitcoin will set you back 1.1BTC if you buy 100+ at a time.
I wouldn't part with my Casascius coins for just face value.

novusordo

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Quote from: jl2012 on January 17, 2013, 10:51:46 PM

Quote from: smoothie on January 17, 2013, 10:43:34 PM

Quote from: Peter Lambert on January 17, 2013, 10:28:21 PM

June 2011

+1

@OP do your homework before asking stupid questions lol Cheesy

Do YOUR homework

Silver was well over $34/oz in June 2011:

Chalkbot

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Quote from: jl2012 on January 17, 2013, 10:51:46 PM

Do YOUR homework

Silver was well over $34/oz in June 2011:

Oh snap. Here comes jl2012 with the facts!

jl2012

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Quote from: smoothie on January 17, 2013, 10:43:34 PM

Quote from: Peter Lambert on January 17, 2013, 10:28:21 PM

June 2011

+1

@OP do your homework before asking stupid questions lol Cheesy

Do YOUR homework

Silver was well over $34/oz in June 2011:

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: Peter Lambert on January 17, 2013, 10:28:21 PM

June 2011

+1

@OP do your homework before asking stupid questions lol Cheesy

Peter Lambert

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It's all fun and games until somebody loses an eye

June 2011

kokojie

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Quote from: molecular on January 17, 2013, 01:49:12 PM

bitcoin is much more liquid, though.

try buying an ounce of silver and sell it again on the same day and see what's left. We even pay 7% (or 9%?) sales tax on silver in germany.

also: with bitcoin you can buy stuff Wink

I still have a bet settlement outstanding where a friend has to buy me a t-shirt using 1oz silver coin. Looking forward to that experience.

yep, this is why I hate keeping gold and especially silver, it's fucking difficult to store and try to get a fair price when you sell (unless the market is crazy bullish)

molecular

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bitcoin is much more liquid, though.

try buying an ounce of silver and sell it again on the same day and see what's left. We even pay 7% (or 9%?) sales tax on silver in germany.

also: with bitcoin you can buy stuff Wink

I still have a bet settlement outstanding where a friend has to buy me a t-shirt using 1oz silver coin. Looking forward to that experience.

Chalkbot

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Quote from: ElectricMucus on January 17, 2013, 01:27:23 PM

Quote from: mccorvic on January 17, 2013, 01:15:49 PM

Quote from: Chalkbot on January 17, 2013, 01:02:35 PM

See? This is why bitcoin will beat silver. The barrier to entry on the silver market is too high! We can't even figure out how much an ounce of silver is! At least we know 1 bitcoin is 1 bitcoin, there are no regional interpretations like, in Canada, 1 bitcoin is actually 1.125 BTC.

This +1

-1
Has nothing to do with the barrier of entry, just that some ignorant nobody doesn't know how much a troy ounce is doesn't mean that he'll get anything else than everybody when he buys "an ounce" of silver.

What really matters is if those who would be interested in the investment have the cash to acquire it. And they know what they get.
With silver that is definitely the case, historically, with bitcoin it is uncertain, although it could surpass it someday.

Sorry mucus, I was being tongue-in-cheek, with the irony being that I can't even explain what a bitcoin is.

ElectricMucus

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Marketing manager - GO MP

Quote from: mccorvic on January 17, 2013, 01:15:49 PM

Quote from: Chalkbot on January 17, 2013, 01:02:35 PM

See? This is why bitcoin will beat silver. The barrier to entry on the silver market is too high! We can't even figure out how much an ounce of silver is! At least we know 1 bitcoin is 1 bitcoin, there are no regional interpretations like, in Canada, 1 bitcoin is actually 1.125 BTC.

This +1

-1
Has nothing to do with the barrier of entry, just that some ignorant nobody doesn't know how much a troy ounce is doesn't mean that he'll get anything else than everybody when he buys "an ounce" of silver.

What really matters is if those who would be interested in the investment have the cash to acquire it. And they know what they get.
With silver that is definitely the case, historically, with bitcoin it is uncertain, although it could surpass it someday.

mccorvic

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Quote from: Chalkbot on January 17, 2013, 01:02:35 PM

See? This is why bitcoin will beat silver. The barrier to entry on the silver market is too high! We can't even figure out how much an ounce of silver is! At least we know 1 bitcoin is 1 bitcoin, there are no regional interpretations like, in Canada, 1 bitcoin is actually 1.125 BTC.

This +1

Chalkbot

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See? This is why bitcoin will beat silver. The barrier to entry on the silver market is too high! We can't even figure out how much an ounce of silver is! At least we know 1 bitcoin is 1 bitcoin, there are no regional interpretations like, in Canada, 1 bitcoin is actually 1.125 BTC.

molecular

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Quote from: ingrownpocket on January 17, 2013, 07:59:01 AM

Quote from: bowen151 on January 17, 2013, 07:56:31 AM

A TROY ounce weighs heavier than a traditional ounce measurement used for something like, say cooking ingredients for instance.

Usually around 30+ grams

https://www.google.com/search?q=1+troy+ounce+to+grams

No idea what that means though.

31.1 grams sound about right for eagles, maples leaves, philharmoniker

ingrownpocket

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Quote from: bowen151 on January 17, 2013, 07:56:31 AM

A TROY ounce weighs heavier than a traditional ounce measurement used for something like, say cooking ingredients for instance.

Usually around 30+ grams

https://www.google.com/search?q=1+troy+ounce+to+grams

No idea what that means though.

bowen151

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Caveat Emptor

A TROY ounce weighs heavier than a traditional ounce measurement used for something like, say cooking ingredients for instance.

Usually around 30+ grams

ingrownpocket

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Quote from: molecular on January 17, 2013, 07:28:36 AM

Quote from: ingrownpocket on January 17, 2013, 07:07:38 AM

1 ounce = 28.3495231 grams

actually I think american ounce (used for silver) is 31.x

http://wiki.answers.com/Q/How_many_grams_of_silver_in_an_ounce

I used google.
https://www.google.com/search?q=1+oz+to+grams

molecular

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Quote from: ingrownpocket on January 17, 2013, 07:07:38 AM

1 ounce = 28.3495231 grams

actually I think american ounce (used for silver) is 31.x

http://wiki.answers.com/Q/How_many_grams_of_silver_in_an_ounce

ingrownpocket

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~~1 ounce = 28.3495231 grams~~

1 troy ounce = 31.1034768 grams

molecular

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assuming bitcoin rises 100% per year (6% per month) and silver 10% per year (0.8% per month) it should happen in 15 months (bitcoin: $36, silver: $35).

That would put it in April 2014

Topic: [POLL] when will 1 BTC be worth 1 oz of silver? - page 2. (Read 3046 times)