Topic: Silver shot up. (Read 5926 times)
and bet payout might be too high in value to honor it
Yes. Buying silver is a great idea, when it has fallen below 10$ in the next 1-3 years.
cheers that's the funniest thing I've heard all day , nearly spilt my coffee Wait just a little bit and you will see my prediction to come true
I completely forgot about this thread, but a calendar entry reminded me to come back to this thread and laugh. I suppose the $26 low in 2011 was sort of close to $10, right?
Always keep the paper/physical (derivative/underlying) difference in perspective. If you're saying $10, you mean paper - not real silver.
Yes. Buying silver is a great idea, when it has fallen below 10$ in the next 1-3 years.
cheers that's the funniest thing I've heard all day , nearly spilt my coffee Wait just a little bit and you will see my prediction to come true
I hope this forum is still here in 3 years when Silver is worth at least $150 an ounce and we all point and laugh
Yes. Buying silver is a great idea, when it has fallen below 10$ in the next 1-3 years.
cheers that's the funniest thing I've heard all day , nearly spilt my coffee Wait just a little bit and you will see my prediction to come true
I hope this forum is still here in 3 years when Silver is worth at least $150 an ounce and we all point and laugh
Yes. Buying silver is a great idea, when it has fallen below 10$ in the next 1-3 years.
cheers that's the funniest thing I've heard all day , nearly spilt my coffee Wait just a little bit and you will see my prediction to come true
Yes. Buying silver is a great idea, when it has fallen below 10$ in the next 1-3 years.
cheers that's the funniest thing I've heard all day , nearly spilt my coffee http://www.youtube.com/watch?v=tj2s6vzErqY&feature=youtube_gdata_player
Why you guys still value things in a currency that is quickly losing status as the world's reserve currency is beyond me... in the 1970s when gold topped $100/ounce everyone thought it was in some super huge bubble and was sure to fall back under $100. Then it passed $200, $300, $400 and they still thought it was going to fall down under $200 "at some point". Well, it did, in 1999 over 20 years later. It was only after it passed $600/ounce that people realized just how horrible Nixon and Carter had screwed up the economy, things that people are realizing about Bush/Obama now.
This has got o be one of the best things I've read on here in a while, very well said!
When would I be wrong?
Only if Silver makes a new high above 50$. But even if this happens, the crash is just postponed and Silver prices will eventually come back below 10 $ in the next 2-5 years.[/color]
Only if Silver makes a new high above 50$. But even if this happens, the crash is just postponed and Silver prices will eventually come back below 10 $ in the next 2-5 years.[/color]
I have 20 Bitcoin that says silver never drops under $10 an ounce in the next ten years.
Why you guys still value things in a currency that is quickly losing status as the world's reserve currency is beyond me... in the 1970s when gold topped $100/ounce everyone thought it was in some super huge bubble and was sure to fall back under $100. Then it passed $200, $300, $400 and they still thought it was going to fall down under $200 "at some point". Well, it did, in 1999 over 20 years later. It was only after it passed $600/ounce that people realized just how horrible Nixon and Carter had screwed up the economy, things that people are realizing about Bush/Obama now.
... if the price carries on rising again it's time to BUY BUY BUY.
Too late.
Looks like the dip is over for both Silver and gold this afternoon, the Asian markets are buying like crazy.
I'm waiting until tomorrow to confirm $40 is a hold price, but if the price carries on rising again it's time to BUY BUY BUY.
I'm waiting until tomorrow to confirm $40 is a hold price, but if the price carries on rising again it's time to BUY BUY BUY.
The Kitco charts, as far as I know, represent the physical market. Currently, the physical and paper markets are pretty tightly coupled, so they are essentially the same, not counting premiums. If the markets decouple, I expect that chart to rise with the physical. If I'm wrong, and the chart shows a low price while the premium for physical skyrockets, I'm willing to lose the 10 BTC on a technicality.
That's my understanding as well. It is hard to tell whether they'll decouple within the next year, and they are your Bitcoins, so fair enough.
The Kitco charts, as far as I know, represent the physical market. Currently, the physical and paper markets are pretty tightly coupled, so they are essentially the same, not counting premiums. If the markets decouple, I expect that chart to rise with the physical. If I'm wrong, and the chart shows a low price while the premium for physical skyrockets, I'm willing to lose the 10 BTC on a technicality.
In the unlikely event that Kitco isn't around for the duration, or makes changes to that page or chart, we both agree to make a good faith effort to find a new official data source, and if that effort fails, the bet will be voided.
Is there going to be a distinction between paper silver and physical silver, with SLV and futures or anything leveraged being paper?
Stockcharts is an excellent source.
Otherwise, GoldMoney also has an excellent silver chart.
A lot of other sources rely on Kitco's data feed.
Oh, nice image kjj - I doubt many would know what language that is.
I'd bet a million bitcoins silver wont go below $20 in the next two years but I don't have a million bitcoins.
So, put your money where your mouth is. What about betting 10 BTC or 50 BTC. I am sure you have at least 10 BTC, or 50 BTC.
I would be willing to make that bet at 10 BTC. I propose these terms:
If NY spot silver closes below $20.00 on any day between now and August 25th, 2013, I will pay you 10 BTC. If it doesn't close below $20.00 on or before that date, you will pay me 10 BTC. The official data source will be the chart labelled "24 Hour Spot Silver (Bid)" on this page. In the unlikely event that Kitco isn't around for the duration, or makes changes to that page or chart, we both agree to make a good faith effort to find a new official data source, and if that effort fails, the bet will be voided.
Here's the interesting part: Silver as a commodity "should" be trading at a ratio of roughly 10:1 to the price of Gold, given global conditions of supply and demand. However, since the Silver price has been destroyed recently along with stock prices, it is currently around 40:1.
Now that Silver is being treated like a precious metal and not a stock, most serious investors expect the price to come up to between 20:1 and 15:1 in the next 2-3 years and then slowly slowly make its way to 10:1, a short term gain of 100 to 200 percent and a long term gain of 400!
Now that Silver is being treated like a precious metal and not a stock, most serious investors expect the price to come up to between 20:1 and 15:1 in the next 2-3 years and then slowly slowly make its way to 10:1, a short term gain of 100 to 200 percent and a long term gain of 400!
The thing about ratios is there's a numerator and a denominator. We could return to those ratios without silver moving substantially to the upside. The price of gold would just have to come down. And as you can see over the last two days, that can happen rather quickly.
Indeed it can and has, but you'd be extremely foolish to assume that it won't bounce right back up again and continue on the steady upward path it's been treading for the past 1000 years.
The great thing about the Silver ratio is that even in a downtrend the ratio still narrows, so that when we come out of the downtrend and back into the uptrend you're stronger than ever.
Correct. I predict it will fall to below 10$. If you buy at 30$ you will catch the falling knife.
Well fair enough, although you haven't said what that prediction is based on. I assume you're just guessing.
I predict $30 as the absolute minimum price for the next 5 years at least, with $80 as the top price. This is based on historic and projected demand vs. global capacity to supply.
Has anyone even mentioned that silver futures are in backwardation? You'd be silly to miss it.
Here's the interesting part: Silver as a commodity "should" be trading at a ratio of roughly 10:1 to the price of Gold, given global conditions of supply and demand. However, since the Silver price has been destroyed recently along with stock prices, it is currently around 40:1.
Now that Silver is being treated like a precious metal and not a stock, most serious investors expect the price to come up to between 20:1 and 15:1 in the next 2-3 years and then slowly slowly make its way to 10:1, a short term gain of 100 to 200 percent and a long term gain of 400!
Now that Silver is being treated like a precious metal and not a stock, most serious investors expect the price to come up to between 20:1 and 15:1 in the next 2-3 years and then slowly slowly make its way to 10:1, a short term gain of 100 to 200 percent and a long term gain of 400!
The thing about ratios is there's a numerator and a denominator. We could return to those ratios without silver moving substantially to the upside. The price of gold would just have to come down. And as you can see over the last two days, that can happen rather quickly.
Yes. Buying silver is a great idea, when it has fallen below 10$ in the next 1-3 years.
Wait what, it has fallen below 10$ in the next 1-3 years??
You're mixing past tense and future tense in the same sentence there bud.
If you're trying to say you predict it will fall below $10 in the next 3 years then I guess I can't argue, since none of us have a crystal ball which can look into the future...
Correct. I predict it will fall to below 10$. If you buy at 30$ you will catch the falling knife.
Hang on to see where today's dip ends up and then buy buy buy!!
If you aren't aware of the GLD Puke Indicator, it's been extremely accurate in determining the lows. If I had been aware of this in 2008, I'd be a billionaire right now.
Source information.
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