Topic: [poll]greater significance.. breaking old high or reaching silver parity? (Read 888 times)
February 11, 2013, 05:20:03 AM
The size of a bitcoin is largely arbitrary (if it were a million satoshis instead of 100 million we'd be past parity with gold even), but there are enough people who might fall prey to that fallacy to care that it "upstaged" silver. Still, the number of people who write off Bitcoin because of the 2011 bubble is enormous, so I'm pretty sure the latter will be much more significant. Still it's possible the mainstream news (or just the precious metals community) will pick up the silver parity story and generate tons of interest outside of just the people who have heard about Bitcoin.
February 11, 2013, 05:19:19 AM
Yeah they'll start a war on bitcoin like the war on drugs. That's working out, right?
Sure. Demand is high and so are prices.
I'm certain it will survive in underground mode, but it is pretty hard for institutional investors to invest in drugs, so we won't see crazy price bubbles if central exchanges are outlawed.
February 11, 2013, 04:18:37 AM
And that will just attract more investors.... just the sheer volume. We might be seeing thousands of people investing 50k at a time or something simply because the market is starting to handle that kind of wealth.
But don't worry, such inflow of capital into some "play money" will be noticed by other parties such as govt, so the bubble will be quickly deflated. And that should start another, steadier and healthier growth of bitcoin in the underground mode.
Yeah they'll start a war on bitcoin like the war on drugs. That's working out, right?
Sure. Demand is high and so are prices.
February 11, 2013, 03:59:38 AM
And that will just attract more investors.... just the sheer volume. We might be seeing thousands of people investing 50k at a time or something simply because the market is starting to handle that kind of wealth.
But don't worry, such inflow of capital into some "play money" will be noticed by other parties such as govt, so the bubble will be quickly deflated. And that should start another, steadier and healthier growth of bitcoin in the underground mode.
February 11, 2013, 02:03:44 AM
Had to say breaking the old high for "us" aka BTC fans and people into the currency on this forum. But yeah I'll agree for the world at large, once it gets around or beyond silver is hopefully a huge awakening to it.
Imagine the article headline.....
"New virtual currency now worth more than 1oz Silver"
February 11, 2013, 01:52:23 AM
Had to say breaking the old high for "us" aka BTC fans and people into the currency on this forum. But yeah I'll agree for the world at large, once it gets around or beyond silver is hopefully a huge awakening to it.
February 11, 2013, 01:42:10 AM
Breaking the silver price will blind-side many PM bugs who have, until now, seen only metals as an alternative to collapsing fiat.
IMHO there are several million savers and investors who will suddenly pay attention to bitcoin, learning what it is, and what its doing. Some will realize that they need a percentage of their portfolio in this new technology. That *some* will be enough to make major waves in the BTC price...
IMHO there are several million savers and investors who will suddenly pay attention to bitcoin, learning what it is, and what its doing. Some will realize that they need a percentage of their portfolio in this new technology. That *some* will be enough to make major waves in the BTC price...
I have the same line of thought. Sure the price of bitcoins may have doubled in a short time... but that doesn't mean you can invest say 5 million and get the price to double and somehow make a 5 million profit. there isn't enough volume. BUT....... there is much more volume than a year ago. So greater profits are now possible. And that will just attract more investors.... just the sheer volume. We might be seeing thousands of people investing 50k at a time or something simply because the market is starting to handle that kind of wealth.
February 11, 2013, 01:37:15 AM
Breaking the silver price will blind-side many PM bugs who have, until now, seen only metals as an alternative to collapsing fiat.
IMHO there are potentially several million savers and investors who will suddenly pay attention to bitcoin, learning what it is, and what it's doing. Some will realize that they need a percentage of their portfolio in this new technology. That *some* will be enough to make major waves in the BTC price...
IMHO there are potentially several million savers and investors who will suddenly pay attention to bitcoin, learning what it is, and what it's doing. Some will realize that they need a percentage of their portfolio in this new technology. That *some* will be enough to make major waves in the BTC price...
February 11, 2013, 01:20:39 AM
wouldn't it be interesting if bitcoin not only broke silver's price per ounce per btc but maintained that?
It seems to me that a lot of people think "backed" currencies are great because they give those currencies value. A backed currency might be great but only because it prevents excessive and free printing. The value comes not from what it's backed by. That's my opinion.
It seems to me that a lot of people think "backed" currencies are great because they give those currencies value. A backed currency might be great but only because it prevents excessive and free printing. The value comes not from what it's backed by. That's my opinion.
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