2 votes

Bitcoin up, Precious Metals down

So I, like so many people, have put their savings away in Gold and Silver.
Now, it seems like the cartel wants to slap us in the face again.
Figures I only bought one Bitcoin.
Bitcoin is up to $105 and climbing while Silver has been smashed down to $27.50.

Will you buy Bitcoins or Silver?



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BiteCoin is more like it

Bitcoins are fake money with nothing tangible attached to it. In hard times people want hard money and bitcoins will carry their substance- no weight.

For example;

"I have 500 bitcoins".

"I have 50 ounces of Gold or silver".

Realistically no one wants bitcoins- they are completely intangible.

It's only a matter of time before the bitcoin merry-go-round comes to an end. They are a medium of exchange based on imagination and computer generated nothing. In other words- "air".

Maybe I am Behind The Times

but I am having a hard time trying to wrap my mind around virtual money.

skippy

If the BitCoin prices skydive and Metals shoots back to the top,

What will you do then? Have any of you actually prepared for this scenario?

I believe in the freedom to be what we choose to be.

i sadly passed the bitcoin

i sadly passed the bitcoin boat by, but if i had loaded up, id be selling or using them hand over fist right now. ive lost enough money to know when to capitalize on gains that seem too good to be true.

bitcoin hacked, dropped 20%

http://finance.yahoo.com/news/bitcoin-hacked-price-stumbles-...

That is just not my idea of a good investment - one hacker devalues all the currency.

Some are seeing "bubbles."
http://www.cnbc.com/id/100613010?__source=yahoo|instory|&par=yahoo

Love or fear? Choose again with every breath.

fishy...

thanks for the post...

remember not to trust the mainstream media... we all know how "reliable" they are..

IF YOU ALL THOUGHT THE SMEAR CAMPAIGN AGAINST DOCTOR PAUL WAS BAD... WAIT TO SEE HOW BAD THEY ARE GOING TO FIGHT AGAINST A CURRENCY THAT DIRECTLY ATTACKS THEIR FINANCIAL STRONGHOLD.

CURRENT: 142.50001
HIGHEST: 144.94
LOWEST: 130.24303

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees

The paper price of gold and

The paper price of gold and silver is not highly relevant - but having said that, when gold and silver prices go down in inflationary environments, it is a clear buy signal. And this is certainly an inflationary environment with the Fed creating 85 billion of new dollars every month.

Gold and silver are commodities, and the general rule for commodities is to buy on price dips.

My view on bitcoin is that it is a great short-term currency for worldwide transactions. Buy bitcoin, for instance, to purchase gold and silver to store in Singapore or Hong Kong. There are some bullion vaults in Singapore that will store precious metals, and advance a loan in various currencies (e.g. dollars) based on metals stored with the bullion vault. So, for instance, you can store 500 ounces of silver in the vault, and take out a dollar loan as needed. The loan can be paid back in bitcoin at negligible transfer cost.

For longer term savings, bitcoin is a bit more speculative. While it may be a good savings vehicle, the speculative risk should be considered by any prudent saver. Still, its definitely something worth considering.

Bitcoin!

Transferring bitcoins accross the globe make me giddy! :)

Oh, of course, this has to be viewed in context:

I transfer bitcoins to play while I wait for international wire paymentt to clear and for my gold to arrive via DHL!

I choose bitcoins to PLAY while I WAIT! :)

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

Enjoy bitcoin

while it last...which will not be long. The global banking criminals will shut it down here pretty soon. Don't put too much cash into it...cause it is going away. Sadly.

Will Bitcoin be shut down as fast, or faster than TPB/Torrents?

I think you are "Not even wrong"!

Lemme see, lets see what decentralized, p2p, "thorns" have been shut down to date:

NONE! (that I know of)

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

explain yourself...

how do you think they will be capable of "shutting" bitcoin down???

... do you have any idea of what you're talking about...?

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees

raf!

Why the heck can I not access any Site with a Bitcoin chart? What is the current price? Why are you not basking in the sun on your private Polynesian island?

Results of several Bitcoin chart Sites:
502 Bad Gateway
nginx/1.0.15

mighty!

current bitcoin price is 132.82$

I'm not there yet... I'm currently trying to capitalize on the ridiculous price of silver.

www.bitcoincharts.com - USA

www.bitstamp.net - Slovakia

www.elbitcoin.org - Spain

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees

Damn!

Go get 'em, raf.
$141!!!! OMG! I'm so jealous. So is someone else: your comment had a downvote?!?! Stupid sour graped jealous know-it-all bastards will be crying 'bubble' on anything but 'their' investments.

Can you take me out for a virtual filet Mignon and lobster tail with a grilled sweet potato, an arugula, sugar snap peas, tomato, red onion salad topped with fried goat cheese and a mint vinaigrette and a nice bottle of Cabernet?

Peter Surda on the Bitcoin run up, interviewed by Jeffrey Tucker

http://www.dailypaul.com/280612/peter-surda-on-the-bitcoin-r...

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees

Why would I buy

a digital coin for $105? Especially when I can't spend it anywhere except maybe some web site? When this bubble bursts all I can say is you get what you pay for.

some web site???

dude do your due diligence...

you can buy anything from any online retailer.

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees

Will amazon.com or

Will amazon.com or overstock.com take bitcoin in payment for goods?

Yeah!

Check out FBA (fulfillment by amazon through bitpay)

https://bitpay.com/amazon

also check out:

https://bitspend.net/

Western Union is going bit coin (if you can beat them join them I guess):

http://mobile.blogs.wsj.com/cio/2013/04/01/western-union-eye...

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees

figures

I was trying to figure out how to buy some bc's and it shot up from 90 to 120+ dollars :/ I just started looking into them and info seems scarce.

Homeland security statement: patriotism is now considered terrorism.
I love www.isidewith.com shared it with everyone I know. If anything they realize its not just a red and blue idiot running for reelection.

Bitcoin info is "scarce"?

I think you are mixing bitcoin scarcity with INFO scarcity!?!?

If you are looking for info on bitcoin, you can start here:

www.weusecoins.com

or search DP or Google, or Yahoo, or Excite! or Bing, Youtube... or if you are living on Mars... well, I don't know what people use to search for info there...

GOOD LUCK! Have fun, because learning about Bitcoin is FUN! :)

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

I've been

I've been investigating/studying bitcoin and I absolutely love it. The mining aspect is what has me most intrigued given the rise in popularity.

But to all the negativists - you're right, this is stupid. Whatever you do don't go mining bit coins. Leave that to me.

You missed the boat when bitcoin is BORRING+STABLE

There is a cool presentation by Gavin Andresen where he says: "You will know Bitcoin has succeeded when they are no longer talked about, and are borring." :)

That will probably be around $10,000 per BTC.. maybe

http://falkvinge.net/2013/03/06/the-target-value-for-bitcoin...

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

If you didn't buy bitcoin at $10....

...you've already missed the boat. Likewise with silver, if you didn't buy under $20 you missed that boat too...unless you were smart enough to unload when it hit $49. Bitcoin has almost tripled in the last month or so. Does that sound like a stable investment? I call it mass hysteria. I recall a couple of years ago when bitcoin got smashed from $40 to $10 in less than 24 hours. Do what you want brother, but beware. Yeah, PM's have been hit hard, manipulated, etc. Hate to sound like a parrot, but tangible silver and gold will never be worthless. Bitcoin? It was created out of nothing and can easily return to being worth nothing. Don't get me wrong, I appreciate the current anonymity of bitcoin, especially if I want to shop on the silkroad, but at the end of the day it's just as fiat as the Federal Reserve Note. There's pretty much an infinite supply of cotton fiber paper, and bytes. PM's don't make you rich, they make you secure. Use bitcoin when you want to make a purchase anonymously, but don't add it to your IRA portfolio. That's my opinion and I'm sticking to it.

Don't Worry If You Missed the Bitcoin Boat

It will come back to port once it has dumped the current load of passengers off into the sea. The process will repeat again until the market develops an effective hedging mechanism to stabilize the price swings. It has potential as a useful medium of exchange once the roller coaster becomes more of a train ride.

I agree, kind of

I agree that there is a really good chance to have a go at grabbing the BTC boat near your shores in the near future,

BUT

It may still be a long swim to get it.. so while you wait, get a few BTC's and play around with them, and even venture onto RIPPLE.COM

You may have fun learning there too! :)

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

TwelveOhOne's picture

So I'm rebutting the opinion for the public, not for you

"If you didn't buy X at Y, you missed the boat" is spurious logic, if it even is. There's no boat here, only changing valuations.

The Federal Reserve is printing $85 billion a month, or $1.02 trillion per year. With 16 trillion outstanding, that's 6.22% more every year. (So ask your boss for a raise with a 6.22% floor...)

Bitcoins will only ever have 21 million of them. Thus, the Federal Reserve is causing the value of Bitcoins (relative to the USD, or FRN) to go up, and to continue to go up over time.

"The boat" is still being boarded...

I love you. I'm sorry. Please forgive me. Thank you.
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No, you don't understand. I'm

No, you don't understand. I'm talking about bitcoin mining using ASIC computers. Pretend I'm mining for Gold. Gold is finite, just as bitcoin is. Gold has to be mined, just as bitcoins do. But bitcoins are completely digital and easier to move.

Si, Senor...

I get what you're saying, rather GOT what you were saying. I've been looking at bitcoin for some time now. Mining bitcoin? Go for it. Just don't jump in with both feet. I was giving the same advice when friends of mine were wanting to buy when silver was at $47, afraid that they were going to 'miss out' on the hyperbolic move up. I told them that the hyperbolic move is what pushed it to almost $50 and they were too late...for now. Now they're buying, and my opinion served them well. (Personally I think silver will get to the low 20's/high teens before we see another jump toward the moon. I thought $28 was a good bottom, until it broke through today. Regardless, PM's are a small part of my total 'pack.' No one is going to get rich off of buying and stacking silver, and to think so would be a fool's errand. PM's are SAFE. Insurance if you will.) Of course inflation will ensure that there's a new record-breaker in the future for silver. But don't buy the Max Keiser pump-and-dump hype. Sit back and relax. Mine all you want. But don't exchange FDR's in your bank account for bitcoin right now. Let the hype die down a bit. Let the dust settle. Don't be a victim of bitcoin's growing pains. If you don't have stored water, food, seeds, supplies, guns, ammo, toiletries, PM's, and even some lowly FDR's on hand, then you have no business looking at bitcoin right now. Again, you and the others that voted down my previous comment, do what you want. I don't care. Shit on my opinion. Whatever floats thy boat.