Hey everybody,
I just wanted to get some other opinions on this. I have a good amount of silver (just over 100oz). I bought it recently so the most I ever paid per ounce was probably like $27. I keep waiting and waiting for it [silver] to go up. Today I had kind of an epiphany. Silvers going nowhere (yet demand still exists for it), bitcoin is going up.
SO, this is my question: Should I Trade My Silver For Bitcoins?
Thanks a lot for sharing your opinions.
Depends.
If you can learn to trade, much more volatility in Bitcoin than silver (most of the time) and therefore much greater earning potential.......but with much much more risk.
If I were you, and I had alternative capital, then I would hold onto my silver. Strong chances are that the bottom was in for Silver at $18. If you have it in physical form, then as you will know, there are high premiums to be paid (and Tax if depending on where u live) and really, holding physical precious metals is the ultimate insurance policy.
If however all your capital is in the silver, then you may want to consider liquidising some of it to play in Bitcoinland.
Thanks for the advice, everybody. I do think (although I could be wrong and therefore I would have made the wrong decision) that we are on the edge of another bubble here.
The only reason I thought to get rid of my silver is because I'm mad at it...if that makes sense. I remember plenty of people forecasting that it would hit $50 by the end of this year. Instead of that it doesn't want to budge + or - $1 or $2. So in the short term it has cost me money. And no one knows when it will do the opposite.
I already have some bitcoins. God knows I would love to have some more but I really don't want to pay $500+
for one. In the past when they've gone up so high so quickly like this, they've gone down (why I believe the bubble will burst) almost just as fast. I liked the line about buying at the point of maximum pessimism.
Its funny how we can speculate all day, all have our own good, thought-out ideas based on facts and still have completely no idea which way its going to go.
All I can say is good luck to everybody.
A very salient point. You made the mistake of listening to Silver Stacker. In Bitcoinland, you run the exact same dangers of listening to Bitcoin Nutter. Make the mistake of listening to these mother fuckers, and their 'opinions' will see you in the fkn poor house. And if anything, Bitcoin Nutter is far more zealous than Silver Stacker.
If Silver Stacker is a local community action group, then Bitcoin Nutter is the Mujahideen.
Always be aware to take necessary precautions to protect yourself against the Bitcoin Nutters!
