Topic: Silver stackers hate Bicoin? - page 2. (Read 4013 times)

+1

On topic: I personally own some gold coins that were given to me as presents back when gold was a lot cheaper. I'm thinking selling them to buy more Bitcoins 

All great points thanks.

For the record I own both Silver and BTC, I have to admit I was initially a bit surprised to see so many selling silver for BTC. I have bought silver with BTC but am left wondering if this is was the right move. If BTC is ever even mildly successful over the next two years wouldn't BTC far out pace Silver? Is thinking it could be on par with Silver within a week or two outlandish? I don't think it is. Would this not be a bearish influence on Silver?

I think of what it would take for Silver to trade as freely as BTC and images of "who run barter town" come to mind... Talk of "Silver just needs to top $40 $45  $50 to break the J.P. Morgan paper short position" (still waiting) With the Silver market so throughly manipulated would it not trade freely until the US formally defaults?  

I wonder out loud what the effect would be if more long time stackers decide to diversify into BTC? I'll guess the outcome could be what many Silver investors have been hoping for as long as I can remember, the wrenching of control of the money supply from the FED and protecting ones hard assets in the process. There has been a constant drumbeat, growing louder over that last few years a patriotic drumbeat to "buy Silver to save America", I am beginning to believe it should read: "buy BTC to save America"...

The people that will cry are those with neither silver or bitcoin. I see both steadily climbing in value for many years. The advantage silver presently has though is it's readily established. More people are likely to buy it and take it off the market than bc. Some may look at bitcoin and just say screw it, I'm buying silver. Just being fair.

That's probably true to a degree. I've been in the PM's for about 3 years, mainly silver. I looked at bitcoin about a year ago and dismissed it. Recently I've looked at it again and having studied the metals and currencies extensively I have a new appreciation for bitcoin. The philosophy and goals of it are very worthy of merit and I'm a strong supporter of it and want to learn more. The biggest downfall for the "outsiders" (not in bitcoin, NO technical wherewithal [which is cool]) is trying to understand it.

I think first you have to understand the nature of money and why people use it; then you can understand bitcoin. It's quite an educational process and there's a long way to go. I've been teaching people a lot about currencies and I've made them money in the markets. They listen to me about bitcoin because they respect me. They listen to me the same way a 4th grader listens to a Phd. Interesting but very confusing!   

So I'm not discouraged that I didn't get in a year ago (more bummed). I'm still going after this aggressively now and will teach people about it the same as I did with the metals.

What will keep people from this now is the cost of rigging and understanding why they would convert fiat to bitcoins to spend. Why not just spend the fiat? That's the challenge.

I think many of them feel bad about not diving in when bitcoin was <$1 so they come up with excuses too convince themselves bitcoin is a bad thing.

That is exactly what it is. I stack metals and I stack Bitcoin.

I'm investing in both. It's foolish not to diversify.

I like bullion. I like bitcoins. Each has it's advantages.

I think people get stuck. They don't think for themselves.

I just don't understand why people who are smart enough to invest in precious metals on average either can't comprehend or flat out hate bitcoin citing the weakest excuses...

First I thought this was guy burning up in his apartment from his mining rigs, but I guess it turns out investing in silver right now makes one unable to afford air conditioning...

http://www.youtube.com/watch?v=boCmR46nUtE&feature=email&email=comment_reply_received