Woo hoo Silver smack down - page 2. | Bitcointalksearch.org

smoothie

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Quote from: S3052 on December 23, 2012, 08:28:31 AM

Quote from: ElectricMucus on December 22, 2012, 02:28:55 PM

Quote from: S3052 on December 22, 2012, 02:09:29 PM

Quote from: smoothie on December 22, 2012, 01:56:26 PM

Silver is money. Our constitution in the USA says it and many many societies through history used it as money. I'm. It saying that it will be the choice for most transactions. What I am saying is that it is a store of value. S0302 or whatever his name is is wrong that the physical price will fall far. In 2008 when silver went below $10 in the paper market the physical price for say silver eagles was over $35 on eBay. Physical price is determine by real people selling at their price and not the paper manipulated price by jp Morgan etc.

lets stop arguing and bet - if you are so sure. I bet that physical silver prices will fall below 10 $ before 31st Dec 2016

Ok lets come up with some stakes: If you loose you would have to stop highlighting your posts in blue color. I'm open for suggestions on what the counter stake should be.

sorry, but I love blue...

I am happy to accept the bet. I bet 10 BTC that Silver will have moved below 10 $ at least once intraday before Dec 31, 2016

1. Your bet is pathetic in size. Let's up it.
2. You still haven't defined the physical silver price and what that means. No comex or paper silver etc.
3. Physical price to me is what you can buy silver bullion 1oz coins from dealers who are delivering and not storing it for you. We could even use an average of craigslist prices on that day to determine a fair physical price.
4. We are talking about US dollars today as they exist today. No modified US dollar currency where it is backed by something physical or any new US dollar period. Meaning if the dollar gets changed from now until then you lose the bet because you won't be able to gauge the value if it is not being used anymore.

notme

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Activity: 1904

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Quote from: sgbett on December 23, 2012, 02:51:15 PM

ya i get this part. i read something like 1/5th of every tax dollar goes towards servicing debt at current (virtually zero) rates.

so sure if they keep ticking along at ~zero then they can stem the tide for a while, but tides have set a pretty strong historical precedent.

Essentially bonds are already negative interest, Do you think they would have the balls to actually make interest rates negative?

I think they are stuck between a rock (hyperinflation) and a hard place(deflation) and as bad as it might be, deflation is the lesser of two evils.

Exactly, deflation is the lesser of the two evils.

Also, they don't have to make rates negative. Every time they halve the interest rates the bond price doubles. They just have to keep approaching zero.

sgbett

legendary

Activity: 2576

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ya i get this part. i read something like 1/5th of every tax dollar goes towards servicing debt at current (virtually zero) rates.

so sure if they keep ticking along at ~zero then they can stem the tide for a while, but tides have set a pretty strong historical precedent.

Essentially bonds are already negative interest, Do you think they would have the balls to actually make interest rates negative?

I think they are stuck between a rock (hyperinflation) and a hard place(deflation) and as bad as it might be, deflation is the lesser of two evils.

notme

legendary

Activity: 1904

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Quote from: sgbett on December 23, 2012, 02:26:30 PM

I am with you on this hypothesis, but the really niggly thing is that bonds are in a bubble too. The bond market is way bigger than the gold market - doeasnt that make them the 'majority' that are going to lose (if/when the dollar collapses?).

No, because the Fed has to save the bond market otherwise the already unaffordable debt will balloon so quick we will have to gear up the printing to hyperinflation levels.

They won't be able to save anything else. The bond market won't be pretty, but they will keep rates as low as they can for as long as they can.

sgbett

legendary

Activity: 2576

Merit: 1087

I am with you on this hypothesis, but the really niggly thing is that bonds are in a bubble too. The bond market is way bigger than the gold market - doeasnt that make them the 'majority' that are going to lose (if/when the dollar collapses?).

notme

legendary

Activity: 1904

Merit: 1002

Quote from: bitster on December 23, 2012, 11:59:28 AM

silver down maybe in the short term, long term all commodities should rise after all the dollar is fractional reserve garbage.

The fact that everybody thinks the dollar will become worthless is why I believe so strongly that we will in fact see the deflation S3052 and Cypherdoc have been predicting. In capitalist economics it's the majority that always loses. The rich get richer the poor get poorer.

bitster

newbie

Activity: 53

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silver down maybe in the short term, long term all commodities should rise after all the dollar is fractional reserve garbage.

cypherdoc

legendary

Activity: 1764

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Quote from: adamstgBit on December 22, 2012, 03:50:28 PM

Quote from: smoothie on December 22, 2012, 03:49:17 PM

Quote from: cypherdoc on December 22, 2012, 11:27:37 AM

how many of you have tried to transport all of your silver across town esp. if you hold a "large" amount of it? everyone here knows when i liquidated all my junk silver early last year i almost broke my back lugging bag after bag after bag over to the local coin dealer. and i was above the average hoarder of silver at the time.

but here's the point. i was still just one guy who would need silver to transact if silver ever reverted to it's real money status. it's not possible for silver or any metal to flow fast enough or far enough or often enough to fill the huge debt hole we've created for ourselves worldwide. the worldwide economy would still collapse.

Lol your reason for struggling with the transport of your silver is because you are old. Trollface.jpg

how old are you cypherdoc ? 30's?

S3052

legendary

Activity: 2100

Merit: 1000

Quote from: lucif on December 23, 2012, 10:29:44 AM

Quote from: S3052 on December 23, 2012, 08:28:31 AM

I am happy to accept the bet. I bet 10 BTC that Silver will have moved below 10 $ at least once intraday before Dec 31, 2016[/color]

Go ahead http://betsofbitco.in

I have submitted a bet there. waiting for approval now

cypherdoc

legendary

Activity: 1764

Merit: 1002

Quote from: smoothie on December 22, 2012, 03:49:17 PM

Quote from: cypherdoc on December 22, 2012, 11:27:37 AM

how many of you have tried to transport all of your silver across town esp. if you hold a "large" amount of it? everyone here knows when i liquidated all my junk silver early last year i almost broke my back lugging bag after bag after bag over to the local coin dealer. and i was above the average hoarder of silver at the time.

but here's the point. i was still just one guy who would need silver to transact if silver ever reverted to it's real money status. it's not possible for silver or any metal to flow fast enough or far enough or often enough to fill the huge debt hole we've created for ourselves worldwide. the worldwide economy would still collapse.

Lol your reason for struggling with the transport of your silver is because you are old. Trollface.jpg

this one's a combination of #1 & #5.

thoughtfan

hero member

Activity: 784

Merit: 506

Quote from: SaltySpitoon on December 22, 2012, 08:47:12 AM

I myself am a huge silver bug as well. In the long term, you can't possibly lose on silver. If you are looking to sell within a month, you might lose a few bucks, but supply is dwindling, the world's mineable silver is running out, and demand is on the rise. If you have noticed the prices of silver coins, you will have seen that spot price is now irrelevant for the most part. Its all up to what people are willing to pay. Months ago when I started buying in at around $20 per ounce, the standard government bullion was, $2-$3 over spot or so (American silver eagles, Canadian Maples, Austrian Philharmonics) and generics could be found for less. Now you are lucky to find those coins for $5 over spot.

"It is estimated that more than 95% of all the silver ever mined throughout history has already been consumed by industrial use. That silver is gone forever, unrecoverable at any price. In 1900, there were approximately 12 billion ounces of silver in the world. Today, that figure has fallen to about 300 million ounces of above-ground, refined silver. This means that at current prices, it would only take about four billion dollars to purchase all of the above-ground silver in the world today." - Monex

http://www.cmi-gold-silver.com/monetarydigests/buy-silver-ounces/ - Warren Buffet buys 130 million ounces of silver

You do realise don't you that that article was written May 6, 1998 where ' Buffett’s cost [was] about $5.25/oz'?

I thought it was odd they were quoting all these 90s stats then when I saw the price ...

And though I know a lot of the arguments still apply we're not far off 15 years from when those price considerations were current.

lucif

sr. member

Activity: 462

Merit: 250

Clown prophet

Quote from: S3052 on December 23, 2012, 08:28:31 AM

I am happy to accept the bet. I bet 10 BTC that Silver will have moved below 10 $ at least once intraday before Dec 31, 2016[/color]

Go ahead http://betsofbitco.in

S3052

legendary

Activity: 2100

Merit: 1000

Quote from: ElectricMucus on December 22, 2012, 02:28:55 PM

Quote from: S3052 on December 22, 2012, 02:09:29 PM

Quote from: smoothie on December 22, 2012, 01:56:26 PM

Silver is money. Our constitution in the USA says it and many many societies through history used it as money. I'm. It saying that it will be the choice for most transactions. What I am saying is that it is a store of value. S0302 or whatever his name is is wrong that the physical price will fall far. In 2008 when silver went below $10 in the paper market the physical price for say silver eagles was over $35 on eBay. Physical price is determine by real people selling at their price and not the paper manipulated price by jp Morgan etc.

lets stop arguing and bet - if you are so sure. I bet that physical silver prices will fall below 10 $ before 31st Dec 2016

Ok lets come up with some stakes: If you loose you would have to stop highlighting your posts in blue color. I'm open for suggestions on what the counter stake should be.

sorry, but I love blue...

I am happy to accept the bet. I bet 10 BTC that Silver will have moved below 10 $ at least once intraday before Dec 31, 2016

S3052

legendary

Activity: 2100

Merit: 1000

Quote from: oOoOo on December 23, 2012, 08:05:52 AM

Quote from: S3052 on December 22, 2012, 02:09:29 PM

lets stop arguing and bet - if you are so sure. I bet that physical silver prices will fall below 10 $ before 31st Dec 2016

How would that be possible?? with all the fiat inflation that is going on right now (and likely never to stop)? I could, perhaps, imagine it going down at some point in the future, BUT 10 USD???!?? In today's $ ? Or 2016 $ ? (<- even less likely)

this is bizarre!

??

yes, this is entirely possible

oOoOo

full member

Activity: 238

Merit: 100

Quote from: S3052 on December 22, 2012, 02:09:29 PM

lets stop arguing and bet - if you are so sure. I bet that physical silver prices will fall below 10 $ before 31st Dec 2016

How would that be possible?? with all the fiat inflation that is going on right now (and likely never to stop)? I could, perhaps, imagine it going down at some point in the future, BUT 10 USD???!?? In today's $ ? Or 2016 $ ? (<- even less likely)

this is bizarre!

??

adamstgBit

legendary

Activity: 1904

Merit: 1038

Trusted Bitcoiner

Quote from: smoothie on December 22, 2012, 03:53:50 PM

Quote from: adamstgBit on December 22, 2012, 03:48:30 PM

Quote from: smoothie on December 22, 2012, 03:37:27 PM

Quote from: adamstgBit on December 22, 2012, 03:31:59 PM

Quote from: smoothie on December 22, 2012, 03:13:30 PM

Quote from: S3052 on December 22, 2012, 02:09:29 PM

Quote from: smoothie on December 22, 2012, 01:56:26 PM

Silver is money. Our constitution in the USA says it and many many societies through history used it as money. I'm. It saying that it will be the choice for most transactions. What I am saying is that it is a store of value. S0302 or whatever his name is is wrong that the physical price will fall far. In 2008 when silver went below $10 in the paper market the physical price for say silver eagles was over $35 on eBay. Physical price is determine by real people selling at their price and not the paper manipulated price by jp Morgan etc.

lets stop arguing and bet - if you are so sure. I bet that physical silver prices will fall below 10 $ before 31st Dec 2016

Please define physical silver price. Also we are talking $10 USD?

I'm also talking about 1 oz 999 fine silver bullion coins or bars.

What do you propose we bet?

i really would like to short a few bitcoins with silver with a three year time frame...

smoothie, wana write up a futures contact?
3 years I'll buy wtv 10BTC can buy of silver.

k? Grin

Lol how about you also make a bet as well and that is a little less bias. Ok?Your bet suggestion only benefits you. If bitcoins go down in value that does not benefit me. Rethink your proposal and let me know. Thanks

look if in 3 years 10BTC can not even buy 1oz of silver we forget it, if not i Must buy 10BTC worth of your silver at spot+5%

a bullion dealer might like my deal.. think about it he will for sure make a sale in 3 years.. or maybe not... LOL

all the risk is on me because i held the btc for 3 years waiting to maybe buy some silver with it.

I'm not bearish long term on bitcoin. Not sure I'm against your long term projections. This thread was about silver NOT bitcoin.

right, but it would be cool if could get someone like coinabull to agree

i would be willing to make a deal saying i must buy 10oz of silver in 3 years no matter what the price of bitcoin is

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

Quote from: adamstgBit on December 22, 2012, 03:48:30 PM

Quote from: smoothie on December 22, 2012, 03:37:27 PM

Quote from: adamstgBit on December 22, 2012, 03:31:59 PM

Quote from: smoothie on December 22, 2012, 03:13:30 PM

Quote from: S3052 on December 22, 2012, 02:09:29 PM

Quote from: smoothie on December 22, 2012, 01:56:26 PM

Silver is money. Our constitution in the USA says it and many many societies through history used it as money. I'm. It saying that it will be the choice for most transactions. What I am saying is that it is a store of value. S0302 or whatever his name is is wrong that the physical price will fall far. In 2008 when silver went below $10 in the paper market the physical price for say silver eagles was over $35 on eBay. Physical price is determine by real people selling at their price and not the paper manipulated price by jp Morgan etc.

lets stop arguing and bet - if you are so sure. I bet that physical silver prices will fall below 10 $ before 31st Dec 2016

Please define physical silver price. Also we are talking $10 USD?

I'm also talking about 1 oz 999 fine silver bullion coins or bars.

What do you propose we bet?

i really would like to short a few bitcoins with silver with a three year time frame...

smoothie, wana write up a futures contact?
3 years I'll buy wtv 10BTC can buy of silver.

k? Grin

Lol how about you also make a bet as well and that is a little less bias. Ok?Your bet suggestion only benefits you. If bitcoins go down in value that does not benefit me. Rethink your proposal and let me know. Thanks

look if in 3 years 10BTC can not even buy 1oz of silver we forget it, if not i Must buy 10BTC worth of your silver at spot+5%

a bullion dealer might like my deal.. think about it he will for sure make a sale in 3 years.. or maybe not... LOL

all the risk is on me because i held the btc for 3 years waiting to maybe buy some silver with it.

I'm not bearish long term on bitcoin. Not sure I'm against your long term projections. This thread was about silver NOT bitcoin.

adamstgBit

legendary

Activity: 1904

Merit: 1038

Trusted Bitcoiner

Quote from: smoothie on December 22, 2012, 03:49:17 PM

Quote from: cypherdoc on December 22, 2012, 11:27:37 AM

how many of you have tried to transport all of your silver across town esp. if you hold a "large" amount of it? everyone here knows when i liquidated all my junk silver early last year i almost broke my back lugging bag after bag after bag over to the local coin dealer. and i was above the average hoarder of silver at the time.

but here's the point. i was still just one guy who would need silver to transact if silver ever reverted to it's real money status. it's not possible for silver or any metal to flow fast enough or far enough or often enough to fill the huge debt hole we've created for ourselves worldwide. the worldwide economy would still collapse.

Lol your reason for struggling with the transport of your silver is because you are old. Trollface.jpg

how old are you cypherdoc ? 30's?

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

Quote from: cypherdoc on December 22, 2012, 11:27:37 AM

how many of you have tried to transport all of your silver across town esp. if you hold a "large" amount of it? everyone here knows when i liquidated all my junk silver early last year i almost broke my back lugging bag after bag after bag over to the local coin dealer. and i was above the average hoarder of silver at the time.

but here's the point. i was still just one guy who would need silver to transact if silver ever reverted to it's real money status. it's not possible for silver or any metal to flow fast enough or far enough or often enough to fill the huge debt hole we've created for ourselves worldwide. the worldwide economy would still collapse.

Lol your reason for struggling with the transport of your silver is because you are old. Trollface.jpg

adamstgBit

legendary

Activity: 1904

Merit: 1038

Trusted Bitcoiner

Quote from: smoothie on December 22, 2012, 03:37:27 PM

Quote from: adamstgBit on December 22, 2012, 03:31:59 PM

Quote from: smoothie on December 22, 2012, 03:13:30 PM

Quote from: S3052 on December 22, 2012, 02:09:29 PM

Quote from: smoothie on December 22, 2012, 01:56:26 PM

Silver is money. Our constitution in the USA says it and many many societies through history used it as money. I'm. It saying that it will be the choice for most transactions. What I am saying is that it is a store of value. S0302 or whatever his name is is wrong that the physical price will fall far. In 2008 when silver went below $10 in the paper market the physical price for say silver eagles was over $35 on eBay. Physical price is determine by real people selling at their price and not the paper manipulated price by jp Morgan etc.

lets stop arguing and bet - if you are so sure. I bet that physical silver prices will fall below 10 $ before 31st Dec 2016

Please define physical silver price. Also we are talking $10 USD?

I'm also talking about 1 oz 999 fine silver bullion coins or bars.

What do you propose we bet?

i really would like to short a few bitcoins with silver with a three year time frame...

smoothie, wana write up a futures contact?
3 years I'll buy wtv 10BTC can buy of silver.

k? Grin

Lol how about you also make a bet as well and that is a little less bias. Ok?Your bet suggestion only benefits you. If bitcoins go down in value that does not benefit me. Rethink your proposal and let me know. Thanks

look if in 3 years 10BTC can not even buy 1oz of silver we forget it, if not i Must buy 10BTC worth of your silver at spot+5%

a bullion dealer might like my deal.. think about it he will for sure make a sale in 3 years.. or maybe not... LOL

all the risk is on me because i held the btc for 3 years waiting to maybe buy some silver with it.

Topic: Woo hoo Silver smack down - page 2. (Read 6738 times)