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Bitcoin passes gold

Silver Art

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#41
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.
I took BTC profits too soon when I used most of my bitcoin faucet earnings to buy 2 oz's of silver from Provident metals on June 9, 2016. However, the good news is that I have .022 BTC left after buying 2 oz's silver and I will just treat that remaining 0.022 BTC balance as a "lottery ticket" and let it ride to see if it goes "to da moon" (i.e. $5000, $10,000 etc.). FWIW, I did briefly trade GBTC (Bitcoin Investment Trust)using my online trading account and made a total net trading profit of $76 from 2 trades after paying trading commissions. Now GBTC is at $150 but I got out of my last trade at $115.75. Hindsight is 20/20. Oh well. Even though I got out of GBTC too soon at $115.75, my 0.022 BTC "lottery ticket" increased in price and that BTC "lottery ticket" is up ~194% at the moment. I am not complaining. Just waiting for the major "to da moon" shot.
 
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#42
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.

View attachment 90494
View attachment 90495 .
It says "10 millibitcoins" on it, which is 0.01 BTC. Still good appreciation, but not quite a 99% discount to the current price.
 

Silver Art

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#43
It says "10 millibitcoins" on it, which is 0.01 BTC. Still good appreciation, but not quite a 99% discount to the current price.
Fair enough. I do want to say that the Bitcoin silver round pictured in the post that you quoted me have sold anywhere between $75 and $150 on ebay based on some past BIN auctions. I could have sold it on ebay and made a decent net FRN profit (after ebay/PP fees and shipping charge) but.............................I wanted to have some "physical bitcoin" in addition to some "digital bitcoin".

:2 thumbs up:
 

Silver Art

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#44
Bitcoin is "stretching" its "lead" over gold................

Bitcoin: $1513.73 (Based on most recent Coinbase BTC $ quote)

Gold: $1237.80 (Based on most recent Kitco price quote)

Bitcoin breaks $1500 on the upside for the 1st time ever. How long and how far will it continue to go up? Who knows.
 

Silver Art

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#45
Bitcoin is continuing to kick gold's a$$ this morning......................

Bitcoin: $1572.56 (Based on most recent Coinbase BTC $ quote as of this post)

Gold: $1234.70 (Based on most recent Kitco price quote as of this post)
 

Silver Art

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#46
As of 1:04 PM, bitcoin reached and surpassed the $1600 handle (according to most recent Coinbase quote) for the 1st time in its short history.......

Bitcoin: $1617.32 (Based on most recent Coinbase BTC $ quote as of this post)

Gold: $1229.90 (Based on most recent Kitco price quote as of this post)
 

solarion

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#47
You'd think PMs would be reacting similarly relative to the buck given that ridiculous budget proposal. New POTUS, Repuke majority in CONgress, and yet the debt machine rolls on unabated, but metal markets don't seem to care...at least when measured in USDs.
 

Silver Art

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#48
You'd think PMs would be reacting similarly relative to the buck given that ridiculous budget proposal. New POTUS, Repuke majority in CONgress, and yet the debt machine rolls on unabated, but metal markets don't seem to care...at least when measured in USDs.
Yeah bitcoin is doing what the metals should be doing given what is going on regarding Fed gov debt, fiscal spending, trump policies, etc.
 

solarion

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#49
Golly, I wonder what could possibly be suppressing metals that doesn't seem to affect bitcoin...
 

Malus

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#50
Gold is a way to preserve wealth, Bitcoin is a speculative investment. Why do people try to compare the two all the time. Why not talk about BTC vs oil/fish/toilet paper or other 'investments"? Or, is it just to try to get people not to sink their money into pm's? The last part was rhetorical.

Bitcoin is "not" gold, never has nor will be. They are two totally different things and yet people talk like they are in direct competition with each other. They are not....
 

Silver Art

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#51
While it is true that gold is not bitcoin and bitcoin is not gold.........................

Bitcoin: $1778 (as of latest Coinbase quote) ---> Continuing to go up

Gold: $1219.80 (as of latest Kitco quote)---> Continuing to go down

Just the facts.......................
 

solarion

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#54
Somebody gona get burnt on it bad.
No doubt. That's how free markets work.

Betcha the gumbymint isn't there to bail out the bitcoin losers.
 

Joe King

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#55
No doubt. That's how free markets work.
I bet that guy who spent whole buncha BTG's on a pizza a few years ago is just kickin' himself in the @ss right now for not having the foresight to have kept them. Ended up being the most expensive pizza ever. lol
 

solarion

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#56
I bet that guy who spent whole buncha BTG's on a pizza a few years ago is just kickin' himself in the @ss right now for not having the foresight to have kept them. Ended up being the most expensive pizza ever. lol
Probably, but I've paid for more than a few things with bitcoin when they were far cheaper in USD terms myself and don't regret it, so who knows.

It's just the nature of the beast when you're dealing with a deflationary currency.
 

CrimsonGuardJay

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#57
I bet that guy who spent whole buncha BTG's on a pizza a few years ago is just kickin' himself in the @ss right now for not having the foresight to have kept them. Ended up being the most expensive pizza ever. lol
It was almost 9,000 btc if I recall.

In other news I have 4 S9 miners on the way to me from China...

I'll have to get an electrician in my house to add some 220volt outlets, then of course install extra dryer vents to get the hot exhaust gas out, then of course the noise thosenthings make...

I'm now contemplating selling them off the moment I get them and just walking away from the whole thing.
 

xhomerx10

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#58
I bet that guy who spent whole buncha BTG's on a pizza a few years ago is just kickin' himself in the @ss right now for not having the foresight to have kept them. Ended up being the most expensive pizza ever. lol
Why doesn't anyone ever wonder about the guy who received the 10k Bitcoins? Jeremy Sturdivant aka jercos didn't keep all 10k Bitcoins either.
 

SilverBuyer

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#59
The guy who did it right was the one who forgot what at the time amounted to a trivial amount of bitcoin (at least in us dollar terms). He forgot he had the bitcoins till he seen the price rise in the news, was able to remember his password and had something like 7 million dollars worth of bitcoin in his account.