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Thread: Precious metals bleed while bitcoin explodes.

  1. #1

    Default Precious metals bleed while bitcoin explodes.

    Causation, correlation or coincidence? Just a normal cycle for precious metals?

    As always I appreciate lower prices but I am curious. Any of you seasoned stackers have input?

  2. #2

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    Maybe it's time to slide a little bitcoin into gold?

  3. #3

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    Quote Originally Posted by GoldFoilHat View Post
    Maybe it's time to slide a little bitcoin into gold?
    If you have bitcoin, that sounds like a solid plan. It appears APMEX takes bitcoins nowadays.

  4. #4

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    Quote Originally Posted by jjmcwill View Post
    Causation, correlation or coincidence? Just a normal cycle for precious metals?

    As always I appreciate lower prices but I am curious. Any of you seasoned stackers have input?
    Crypto has certainly stole PMs thunder. Definitely a connection.

  5. #5
    Join Date
    Jun 2014
    Posts
    31

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    I am sure some PM money has gone to Bitcoin and now with all the hype more will follow. Lets all play it out for another year ( I am in for long haul), If PM's do not stay within current range 1150-1300 it could get messy. Next year, if Bitcoin is 30K and Gold is 2% higher than current 1250.00(1610 Can) I'd be happy. Could not help myself last night, Bought a 1oz Gold Maple Leaf, Current holdings: 16.05 oz AU,236 oz AG,16K fiat,0 Bitcoin. Cheers Squirrel Sorry,Thought I was in gold group. With premiums at 20% up here in Canada where I buy, I have a hold on silver, but buying on dips on Gold.
    Last edited by Silversquirrel68; 12-07-2017 at 09:00 AM.

  6. #6

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    $60M stolen from a Bitcoin Wallet, wonder if you can get Bitcoin insurance?
    The only problem with common sense is that it is not all that common.

    All posts reflect my own opinions and doing your own due diligence is necessary.

  7. #7

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    What about when Scrooge McBitcoin suddenly dies in a car crash and none of his heirs know his 24 word key phrase pass code thingy. Will the wallet be able to be "opened" or is it the same as cash in a fire?

  8. #8

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    Quote Originally Posted by Euchrid View Post
    What about when Scrooge McBitcoin suddenly dies in a car crash and none of his heirs know his 24 word key phrase pass code thingy. Will the wallet be able to be "opened" or is it the same as cash in a fire?
    The whole thing seems shady to me. Some report that over half the bitcoins are owned by about 100 people. When they flee?? Bitcoin is probably great if you are trying to move out of a country into a new country or something. There seems to be a lot of global instability but with security checking peoples poop shoot and their sneakers there are not many places left to hide substantial gold if you are fleeing to somewhere else. You could probably stick a few oz's in a computer device. You probably would be better off melting gold down, casting it to look like other stuff. You would think bitcoin would be more transitory especially considering the price.
    "For we wrestle not against flesh and blood, but against principalities and powers, against the rulers of the darkness of this world, against spiritual wickedness in high places." Eph 6:12

  9. #9

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    Quote Originally Posted by Bobmhey View Post
    The whole thing seems shady to me. Some report that over half the bitcoins are owned by about 100 people. When they flee?? Bitcoin is probably great if you are trying to move out of a country into a new country or something. There seems to be a lot of global instability but with security checking peoples poop shoot and their sneakers there are not many places left to hide substantial gold if you are fleeing to somewhere else. You could probably stick a few oz's in a computer device. You probably would be better off melting gold down, casting it to look like other stuff. You would think bitcoin would be more transitory especially considering the price.
    Would like someione to show me how I can move and realocate those funds in an account in another country, and what those process fees would incur.
    These are only my opinions and not investment advice.

    Live Well* Love Much* Laugh Often

  10. #10

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    APMEX now accepts bitcoins, yes - I got a newsletter this week. I hope they have a reliable partner for that otherwise... not too big to fail...

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