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Bitcoin passes gold

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#1
BTC $1288.75
Gold $1232.20

Just to add insult to injury during today's gold dump?

BTC was briefly higher than gold in 2013, but that was the MtGox BTC price. Now it's the "real" BTC.
 

the_shootist

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#2
Yeah well, I don't see how BTC are any different than FRN's. Both are backed by literally nothing and can collapse at virtually any time.

If you don't hold it, you don't own it. Put a methodology and stick with it!!
 

SilverBuyer

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#3
Yeah well, I don't see how BTC are any different than FRN's. Both are backed by literally nothing and can collapse at virtually any time.

If you don't hold it, you don't own it. Put a methodology and stick with it!!
Bitcoin is limited to a certain number which can't be changed so its far better than FRN's in that respect.
 

skychief

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#4
Yeah well, I don't see how BTC are any different than FRN's. Both are backed by literally nothing and can collapse at virtually any time.
They are different in two important aspects; FRNs are subject to debasement and are a representation of debt. BTC is immune to debasement by .gov or the Fed, and NOT a representation of debt.

If you don't hold it, you don't own it. Put a methodology and stick with it!!
roger that.
 

the_shootist

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#5
I don't trust pure electronic wealth. It doesn't seem natural to me but whateva! I probably missed the opportunity of a lifetime not getting into BTC. It's not the first time I missed out on something and probably won't be the last either.
 

nickndfl

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#6
BTC is used for transactions where credit cards, checks and MO are not accepted.
 

CrimsonGuardJay

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#7
I don't trust pure electronic wealth. It doesn't seem natural to me but whateva! I probably missed the opportunity of a lifetime not getting into BTC. It's not the first time I missed out on something and probably won't be the last either.
Honestly, I read that story of a guy buying a delivered pizza years and years ago with like five hundred bitcoin. That makes my groin hurt, and I'm not even the sucker.
 

SilverBuyer

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#9
Honestly, I read that story of a guy buying a delivered pizza years and years ago with like five hundred bitcoin. That makes my groin hurt, and I'm not even the sucker.
Yeah although that guy likely had (maybe still has) tens of thousands of bitcoin.
 

tom baxter

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#10
A lot of people swear by bitcoin, safe as houses they say, just like they said about IT stocks in the late 90's.
What is the great refrain we have heard 20 times over during our lifetimes? "This is different, this is safe"

Well gold has 5000 years of being safe. When land in the roman empire collapsed to not recover for several centuries you could take your gold to the Byzantine empire in the east and buy land and food there. When the old German mark collapsed in the 1920's and people were starving in the cities you could have lived quite well for a year on just a few ounces of gold. The examples are endless, but the real security does not come from those, it comes from the fact that even when it is outlawed, like in the US and Australia last century, you were still able to hold a little "wink wink" and use it as you saw fit.

I'll stick with gold thanks, I'll let the young ones who have never been burned play with the nuvo digital investment wonders.
 

Mujahideen

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#11
A lot of people swear by bitcoin, safe as houses they say, just like they said about IT stocks in the late 90's.
What is the great refrain we have heard 20 times over during our lifetimes? "This is different, this is safe"

Well gold has 5000 years of being safe. When land in the roman empire collapsed to not recover for several centuries you could take your gold to the Byzantine empire in the east and buy land and food there. When the old German mark collapsed in the 1920's and people were starving in the cities you could have lived quite well for a year on just a few ounces of gold. The examples are endless, but the real security does not come from those, it comes from the fact that even when it is outlawed, like in the US and Australia last century, you were still able to hold a little "wink wink" and use it as you saw fit.

I'll stick with gold thanks, I'll let the young ones who have never been burned play with the nuvo digital investment wonders.
True, but comparing gold to bitcoin is like comparing an apple to an orange.

Bitcoin is far more fluid than gold and serves its role there in the digital sphere.

Gold's value is intrinsic and not as fluid as something digital.

Neither gold or bitcoin are good "investments".
 
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nickndfl

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#12
A lot of people swear by bitcoin, safe as houses they say, just like they said about IT stocks in the late 90's.
What is the great refrain we have heard 20 times over during our lifetimes? "This is different, this is safe"

Well gold has 5000 years of being safe. When land in the roman empire collapsed to not recover for several centuries you could take your gold to the Byzantine empire in the east and buy land and food there. When the old German mark collapsed in the 1920's and people were starving in the cities you could have lived quite well for a year on just a few ounces of gold. The examples are endless, but the real security does not come from those, it comes from the fact that even when it is outlawed, like in the US and Australia last century, you were still able to hold a little "wink wink" and use it as you saw fit.

I'll stick with gold thanks, I'll let the young ones who have never been burned play with the nuvo digital investment wonders.
Gold will still be good when aliens visit earth.
 

Mujahideen

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#13

Silvergun

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#14
Digital currency transactions leave some sort of trail. I prefer physical metal or cash to remain anonymous. Not because of shady dealings, but because I value my privacy unlike most in this digital age.
 

the_shootist

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True, but comparing gold to bitcoin is like comparing an apple to an orange.

Bitcoin is far more fluid than gold and serves its role there in the digital sphere.

Gold's value is intrinsic and not as fluid as something digital.

Neither gold or bitcoin are good "investments".
Agreed, I view gold as a wealth life preserver...a safe place in case the SHIF and BTC, used in the right way, having value however; there is a measure of risk associated with it. Both have their niche but neither are 'investments'.
 

tom baxter

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True, but comparing gold to bitcoin is like comparing an apple to an orange.

Bitcoin is far more fluid than gold and serves its role there in the digital sphere.

Gold's value is intrinsic and not as fluid as something digital.

Neither gold or bitcoin are good "investments".
Yes, well some people prefer credit cards and the like and some prefer cash. I prefer cash because I know that even if the power is out and they can't open the till they will still happily take my money, go to great lengths too in fact. I suspect this has to do with the their sales having collapsed when the power is out.

Cash also provides a brake on spending, believe it or not? When you see a nice thing you want in a store, a thing you hadn't planned on purchasing it's all to easy to put in on plastic. That's why people are so much debt now. If on the other hand you have to physically go to a bank and withdraw the funds you have a self-imposed cooling off period. And then there is the psychology of handing over cash, you count it, you are much more aware of how much money is going where.

No gold is not an investment, just like money in the bank is not an true investment. It's money saved and serves the same function except over any reasonable time-frame it goes up with inflation. It is savings with an inflation hedge. Just ask anyone who bought it in 2001 for $200 an ounce, just before we saw rampant inflation in energy, food, housing, etc.

Bitcoin is doing fine too, Lets wait and see what it's worth in 2050 though.
 

platinumdude

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#18
Bitcoin keeps crashing. If you could predict a bottom, would be nice to make some quick cash trading it.

$962.93 -10.02%
 

Joe King

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Silver Art

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#21
Bitcoin is currently at $1334.51 (Bitpay price quote) which I believe is all-time high for Bitcoin. Gold is currently at $1263.60 (Kitco quote).
 

Silver Art

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#22
Bitcoin is stretching is "lead" over gold:

Bitcoin: $1458.00 (Based on Coinbase BTC $ quote)

Gold: $1256.50 (Based on Kitco price quote)

As of note, this is the 1st time that bitcoin broke $1400 on the upside.
 

the_shootist

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#23
Bitcoin is stretching is "lead" over gold:

Bitcoin: $1458.00 (Based on Coinbase BTC $ quote)

Gold: $1256.50 (Based on Kitco price quote)

As of note, this is the 1st time that bitcoin broke $1400 on the upside.
My bad for not getting in. I couldn't get past the risk of the dependancies on technology BTC is tied to, knowing what i know being an architect within the IT community. I should have hopped onboard for a few stops...hindsight being 20/20
 

Silver Art

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#24
My bad for not getting in. I couldn't get past the risk of the dependancies on technology BTC is tied to, knowing what i know being an architect within the IT community. I should have hopped onboard for a few stops...hindsight being 20/20
I did ok making FRN profit on BTC and using some of that BTC to buy silver. However, do not feel too bad because I wished I could have gotten in on bitcoin in early 2013 but, unfortunately, I did not.

EDIT: However, I still have 0.022 BTC in my Coinbase account (via bitcoin faucet earnings) so, I still have a "lottery ticket" to play the bitcoin up (or down) move.
 

Joe King

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My bad for not getting in. I couldn't get past the risk of the dependancies on technology BTC is tied to, knowing what i know being an architect within the IT community. I should have hopped onboard for a few stops...hindsight being 20/20
Will you say the same thing @$2458?
 

solarion

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Will you say the same thing @$2458?
Doubtless. Been watching people echo the same sentiment since 1 BTC = $10. ...too skeery, too volatile, too intangible, etc etc etc

Like they think if you buy a bitcoin you're prohibited from liquidating it, spending it, or swapping it for PMs. ...cuz ya know doing that could literally take TENS of seconds.
 

#48Fan

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#27
The problem with BTC, is the lights could go out. I tinker with it as far as I can get it for free, but would never invest in it.

The biggest problem with BTC, are scams galore. Seems as though everyone trys to scam you out of your BTC. Want to know why? Because there is no accountability and no way to trace who owns what. That, my friends, is a yuuuuuge problem.

Not to mention, the grubberment will NOT let it go on for long hehe.
 

CrimsonGuardJay

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#28
The problem with BTC, is the lights could go out. I tinker with it as far as I can get it for free, but would never invest in it.

The biggest problem with BTC, are scams galore. Seems as though everyone trys to scam you out of your BTC. Want to know why? Because there is no accountability and no way to trace who owns what. That, my friends, is a yuuuuuge problem.

Not to mention, the grubberment will NOT let it go on for long hehe.
..... you can mine it and sell it off daily if you please, it's not something you have to hold on to.

It can be liquidated into dollars, pounds, silver, whatever.

Provident metals will even take payments in bitcoin so you never even have to convert.
 

the_shootist

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Will you say the same thing @$2458?
Absolutely. I'm not getting in now. That ship has sailed as far as I'm concerned. I wouldn't dump any money in the stock market right now for the very same reason
 
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Silver Art

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#30
Bitcoin is "stretching" its "lead" over gold................

Bitcoin: $1483.25 (Based on Coinbase BTC $ quote)

Gold: $1255.20 (Based on Kitco price quote)

Maybe bitcoin is will break$1500 today. Who knows? We will see.
 

Silver Art

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#31
The problem with BTC, is the lights could go out. I tinker with it as far as I can get it for free, but would never invest in it.

The biggest problem with BTC, are scams galore. Seems as though everyone trys to scam you out of your BTC. Want to know why? Because there is no accountability and no way to trace who owns what. That, my friends, is a yuuuuuge problem.

Not to mention, the grubberment will NOT let it go on for long hehe.
Yeah getting BTC from the faucets when it was paying decently before the big rise in price was the only way that I got it for free. I also want to say that IMO the bitcoin scams will rise as the $ price of Bitcoin rises.
 

Joe King

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IMO the bitcoin scams will rise as the $ price of Bitcoin rises.
Yep, sure will.
...but that's the same as with anything that would greatly increase in price, right? Scammers are always lookin' to cash in on the next big thing.
 

Silver Art

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Yep, sure will.
...but that's the same as with anything that would greatly increase in price, right? Scammers are always lookin' to cash in on the next big thing.
Yep. Scammers will continue to scam. It's what they do.
 

mayhem

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#35
Did we all forget the ooddles of Bit-Coin the .gov stole from DotCom? They have enough to manipulate the market with. I won't be surprised to see another crash just like a couple of years ago where the gov sucks you dry, again.
 

solarion

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#37
Meanwhile...despite all the excuses to not get involved bitcoin continues to be the best performing investment in the world.

Also I've noticed that bitcoin tends to lead PMs upward, I've stacked a whole lot of silver by first trading crap fiat for bitcoin...riding the wave awhile and then swapping the bitcoin directly for silver when I saw a pullback coming for bitcoin vs fiat.
If I can't hold it, I don't own it!
Good luck with that in this day and age. I mean you cannot realistically pay for things on Amazon with a PM in your hand and that won't change anytime soon. Oh and btw you CAN hold bitcoin as I've personally explained too many times to bother repeating verbatim at this point. The OWNER of any particular bitcoin is the holder of the private key(wallet.dat) file associated with those bitcoin(s) and that file or storage medium with that file on it can most definitely be secured physically by you, but continue avoiding bitcoin if it pleases you.

Absolutely mind boggling to me that so many PM enthusiasts(which I am myself) cannot seem to grasp the concept that both PMs AND bitcoin could BOTH be money. That neither is debt based, that both have limited inflation not controlled by goobermint thugs, that neither has any counterparty risk whatsoever. That they don't have to be mutually exclusive, but could instead be complimentary to one another. Bitcoin will never ever be gold and gold will never ever be bitcoin...their properties are just too different, but together they're freaking awesome.
 
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CrimsonGuardJay

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Meanwhile...despite all the excuses to not get involved bitcoin continues to be the best performing investment in the world.

Also I've noticed that bitcoin tends to lead PMs upward, I've stacked a whole lot of silver by first trading crap fiat for bitcoin...riding the wave awhile and then swapping the bitcoin directly for silver when I saw a pullback coming for bitcoin vs fiat.

Good luck with that in this day and age. I mean you cannot realistically pay for things on Amazon with a PM in your hand and that won't change anytime soon. Oh and btw you CAN hold bitcoin as I've personally explained too many times to bother repeating verbatim at this point. The OWNER of any particular bitcoin is the holder of the private key(wallet.dat) file associated with those bitcoin(s) and that file or storage medium with that file on it can most definitely be secured physically by you, but continue avoiding bitcoin if it pleases you.

Absolutely mind boggling to me that so many PM enthusiasts(which I am myself) cannot seem to grasp the concept that both PMs AND bitcoin could BOTH be money. That neither is debt based, that both have limited inflation not controlled by goobermint thugs, that neither has any counterparty risk whatsoever. That they don't have to be mutually exclusive, but could instead be complimentary to one another. Bitcoin will never ever be gold and gold will never ever be bitcoin...their properties are just too different, but together they're freaking awesome.
More likely I'll just sell off the bitcoins as I earn them, take the cash and put it in the bank. It depends, but I sure as shit will try hard not to get stuck with it if it crashes.
 

Silver Art

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#39
If I can't hold it, I don't own it!
Actually, I can hold my Bitcoin. I only paid $19 for this Bitcoin from a LCS which is 99% discount to the current market $ price of Bitcoin. Somehow someone was able to combine Bitcoin and 1 troy oz of .999 pure silver in one round.

DSCI1362.JPG

DSCI1363.JPG


BTW I am just having fun with your above quote. I understand what you are saying. However, I also agree with what Solarion was saying in the below quote.....

Meanwhile...despite all the excuses to not get involved bitcoin continues to be the best performing investment in the world.

Also I've noticed that bitcoin tends to lead PMs upward, I've stacked a whole lot of silver by first trading crap fiat for bitcoin...riding the wave awhile and then swapping the bitcoin directly for silver when I saw a pullback coming for bitcoin vs fiat.

Good luck with that in this day and age. I mean you cannot realistically pay for things on Amazon with a PM in your hand and that won't change anytime soon. Oh and btw you CAN hold bitcoin as I've personally explained too many times to bother repeating verbatim at this point. The OWNER of any particular bitcoin is the holder of the private key(wallet.dat) file associated with those bitcoin(s) and that file or storage medium with that file on it can most definitely be secured physically by you, but continue avoiding bitcoin if it pleases you.

Absolutely mind boggling to me that so many PM enthusiasts(which I am myself) cannot seem to grasp the concept that both PMs AND bitcoin could BOTH be money. That neither is debt based, that both have limited inflation not controlled by goobermint thugs, that neither has any counterparty risk whatsoever. That they don't have to be mutually exclusive, but could instead be complimentary to one another. Bitcoin will never ever be gold and gold will never ever be bitcoin...their properties are just too different, but together they're freaking awesome.
I like both Bitcoin and Silver (and Gold). I have both but I will have to say that I have a lot more silver (mostly 1-oz '70's silver art bars) than I do Bitcoin (only 0.022 BTC in my Coinbase Account). If BTC goes to $0 (not likely IMO), then.............MEH!!!!! If Silver (and Gold) go to $0 (not going to happen at all IMO), then..........................Hmmmm............Let me think about that one.
 
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solarion

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#40
More likely I'll just sell off the bitcoins as I earn them, take the cash and put it in the bank. It depends, but I sure as shit will try hard not to get stuck with it if it crashes.
"crash(es)" must surely be the most meaningless word in investment lingo. I've watched bitcoin "crash" over a dozen times since 2009 and yet here it is at an all time high.

...and yeah...banks, now that's safe. lolz Good luck with that brutha.

I like both Bitcoin and Silver (and Gold). I have both but I will have to say that I have a lot more silver (mostly 1-oz '70's silver art bars) than I do Bitcoin (only 0.022 BTC in my Coinbase Account). If BTC goes to $0 (not likely IMO), then.............MEH!!!!! If Silver (and Gold) go to $0 (not going to happen at all IMO), then..........................Hmmmm............Let me think about that one.
I like(trust) silver more than I do bitcoin as well, but that doesn't mean I have to ignore bitcoin as so many PM bugs seem to. For me it simply means when I think bitcoin has had a good run I begin taking profits in the form of physical metal in my hand.