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Thread: Who in their right mind would give up roughly 11 ounces of gold or 1,000 ounces of silver for a btc

  1. #1

    Default Who in their right mind would give up roughly 11 ounces of gold or 1,000 ounces of silver for a btc

    Thought this would be interesting. Let's start a AU:btc and a Ag:btc ratio tracking thread
    Gotta be nuts to give up real royal metal for invisible electrons.

    Ag guy
    live for today, admit your faults, do the right thing (even if you don't want to) & trust God!
    This life is the training of the soul for the life to come. (accept that we live in a fallen world)
    Whether you know it or not, you are a spiritual eternal being! Ag guy

  2. #2

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    Quote Originally Posted by Ag guy View Post
    Thought this would be interesting. Let's start a AU:btc and a Ag:btc ratio tracking thread
    Gotta be nuts to give up real royal metal for invisible electrons.

    Ag guy
    The answer to this will be written in time.

    BTC could wind up being $100,000 OR $500... Im going to buy some if I can ever get my CC approved.




    At this moment gold is around 1300... and bitcoin 14,800.
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  3. #3

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    If BTC can be used world wide like fiat. fiat need 3 days clearance and 1 week international transfer and 5% commision but BTC takes 10 minutes and comission 0.01%, Gold sellers and buyers will use it for international trade. Imagine there are millions tonnes gold in India and Africa to be sold in their local market cheaper than market price, BTC might be at better advantage operating with internet 24x7 non stop. And both side can stock up equivalent amount of fiat numbers and papers at the same time. FIAT 1.0 is local while BTC become fiat 2.0 as international fiat denominator.
    Last edited by SnakeEater; 12-10-2017 at 07:15 PM.
    He who knows nothing is closer to the truth than he whose mind is filled with falsehoods and errors. ~ Thomas Jefferson

  4. #4

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    BTC in it's current status is more a "collectable" and useless for true financial transactions as it's value is not stable.

  5. #5

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    Quote Originally Posted by Ag guy View Post
    Thought this would be interesting. Let's start a AU:btc and a Ag:btc ratio tracking thread
    Gotta be nuts to give up real royal metal for invisible electrons.

    Ag guy
    so credit card, debit card, wire transfer, electronic bill payment are not using electrons?

  6. #6

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    With Bitcoin, trading around the globe, who's the police?
    You trade a million dollars to circumvent some restrictions, time/legal/who knows what, and you get burned
    With Bitcoin, unlike Visa / Mastercard / etc, you're funds are gone, there's no going back, there's no police, there's no one who can get them back

    The trade is there but it's locked in, there's no way to freeze them, nothing, if you have any issues "after the fact", you need to count on the honesty of your trader but what if the price changes while you two argue any points, what a mess

    You may pay a bit more for doing your trading the "old fashioned way" but it is a form of insurance in case something goes wrong with the deal



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  7. #7

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    Saw a video where some hippie vegan family from Europe sold everything they have including their house to buy bitcoin. They are now living on the beach or something waiting for their investment to quadruple. They said if bitcoin tanks and lose all of their money they will not be upset because they have each other and family is the most important thing. If family really is the most important thing to them then why go all in on bitcoin?

  8. #8

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    "BTC in it's current status is more a "speculative investment" and useless for true financial transactions as it's value is not stable."

    There, fixed it for ya.
    Pewwww, I smell.....bears

  9. #9
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    Default

    Quote Originally Posted by Greatwun View Post
    Saw a video where some hippie vegan family from Europe sold everything they have including their house to buy bitcoin. They are now living on the beach or something waiting for their investment to quadruple. They said if bitcoin tanks and lose all of their money they will not be upset because they have each other and family is the most important thing. If family really is the most important thing to them then why go all in on bitcoin?
    This sort of thing is a classic bubble indicator, if those kind of idiots are getting in you can be sure the smart money is at least thinking about bailing out
    If I knew the answers I wouldn't be here

  10. #10

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    Quote Originally Posted by yellowsnow View Post
    so credit card, debit card, wire transfer, electronic bill payment are not using electrons?
    Using acceptable electrons (in the moment) to get your hands on physical things is one thing. surrendering physical things (especially PM's) to get and hold a stream of electrons and considering THAT a secure store of value is quite another.
    Totally nuts!!

    Ag guy
    live for today, admit your faults, do the right thing (even if you don't want to) & trust God!
    This life is the training of the soul for the life to come. (accept that we live in a fallen world)
    Whether you know it or not, you are a spiritual eternal being! Ag guy

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