Silver is exploding

[joswift]

jeff this is the future

Hes sayimng Silver is now worth $100 an ounce... if the $100 cant buy you a loaf of bread its fucking worthless.

Having fort Knox in your garden is fucking useless unless you can exchange it for cash

[Irongrip400]

at the end of the day if all currencies crash gold and silver will still be worth fuck all

If they devalue currency to zero then what are you going to exchange your lumps of metal for?

Stock up on lead and brass. Only two metals you need to worry about if the world goes to shit.

[IroNat]

Canned food will be currency along with bottles of vodka and whiskey.

[joswift]

Canned food will be currency along with bottles of vodka and whiskey.

and a braille Bible.. the only one left

[MAXX]

at the end of the day if all currencies crash gold and silver will still be worth fuck all

If they devalue currency to zero then what are you going to exchange your lumps of metal for?

That's sort of a dichotomy.

All currencies can't crash. People still need something to be used for trade simplicity i.e. a currency. in this modern digital world we live in.

Fiat currencies are sensitive due to manipulation by governments, also corruption and thus inflation.

That is what speaks strongly for Bitcoin, as a world currency. As it can't be manipulated, debased, inflated. And it's not impractical use of trade as means for everyday trade as gold or silver.

[joswift]

That's sort of a dichotomy.

All currencies can't crash. People still need something to be used for trade simplicity i.e. a currency. in this modern digital world we live in.

Fiat currencies are sensitive due to manipulation by governments, also corruption and thus inflation.

That is what speaks strongly for Bitcoin, as a world currency. As it can't be manipulated, debased, inflated. And it's not impractical use of trade as means for everyday trade as gold or silver.

A currency gives gold and silver value, its not the other way around...

[MAXX]

A currency gives gold and silver value, its not the other way around...

first of that was not an argument I was meaning to make. re-read again

second you are wrong in that imo

a fiat currency only has value because of promises and agreements

[joswift]

first of that was not an argument I was meaning to make. re-read again

second you are wrong in that imo

a fiat currency only has value because of promises and agreements

and Gold and silver has value because?

Is it because someone promises to give you some currency in exchange for it...?

[Dave D]

That's sort of a dichotomy.

All currencies can't crash. People still need something to be used for trade simplicity i.e. a currency. in this modern digital world we live in.

Fiat currencies are sensitive due to manipulation by governments, also corruption and thus inflation.

That is what speaks strongly for Bitcoin, as a world currency. As it can't be manipulated, debased, inflated. And it's not impractical use of trade as means for everyday trade as gold or silver.

I think it is impractical as trading gold or silver or even stocks. Do you think bitcoins pricing, which is dollar based, is stable? With such a limited number how can you determine a fair trade for a pizza or a new roof? Or are people going to develop a new currency based on bitcoin and then when it all ends up in the hands of an elite few will we need a new currency system?

Whats bitcoins value based on?  It’s “scarcity?

On paper the idea sounds good but it will be corrupted like anything else.

[MAXX]

I think it is impractical as trading gold or silver or even stocks. Do you think bitcoins pricing, which is dollar based, is stable? With such a limited number how can you determine a fair trade for a pizza or a new roof? Or are people going to develop a new currency based on bitcoin and then when it all ends up in the hands of an elite few will we need a new currency system?

Whats bitcoins value based on?  It’s “scarcity?

On paper the idea sounds good but it will be corrupted like anything else.

Yes based on the scarcity, and inability for manipulation. And being algoritm based. Meaning it can't be manipulated/inflated in the way governmental controlled/bank controlled fiat.

bitcoin has just as big/less chance at getting in the hands of the wealthy and powerful as any other currency. No more no less. It is just a means for trade and value storage.

only threat to bitcoin is governmental ban of using it otherwise it would probably grow to be world currency and replace us dollar.

[That_Dude]

and Gold and silver has value because?

Is it because someone promises to give you some currency in exchange for it...?

They have production and manufacturing value (Gold moreso than silver)

[Dave D]

Yes based on the scarcity, and inability for manipulation. And being algoritm based. Meaning it can't be manipulated/inflated in the way governmental controlled/bank controlled fiat.

bitcoin has just as big/less chance at getting in the hands of the wealthy and powerful as any other currency. No more no less. It is just a means for trade and value storage.

only threat to bitcoin is governmental ban of using it otherwise it would probably grow to be world currency and replace us dollar.

Yeah I hear people say this but it doesn’t make sense. Bitcoins value is based on what the dollar says it’s worth.  If bitcoin becomes a currency let’s say a pizza cost 1 bitcoin, then a week later one bitcoin can buy 7 pizzas. Because someone dies and they have 1000 bitcoins secured in a “locker” that no one has access to. Bitcoins become even more scarce, once a bitcoin is gone it’s gone forever.

Is the thought that because it’s limited it will stop inflation?