02.2016: Gold or Silver?

[groverblue]

Wrong. BTC is NOT a fiat currency. Fiat means by decree of law.

The US dollar is fiat because it is backed by legal tender laws and the government that enforces it.

The value of Bitcoin comes entirely from the market. The market likes BTC because of it's security infrastructure, encoded finite nature and utility. There is not a shred of fiat involved.

Fair enough, but it's not immune to inflation. Anyone can start any number of bitcoins.

[groverblue]

I still can't find cheap copper rounds. Does anyone have experience in designing 3d coins? I don't know what file format that would be in order to submit to a mint. How many would like to go in on getting our own copper coins made? I'm sure we can find a mint at a reasonable price if we supply our own graphics.

[Bossobass]

I buy silver because it's pretty and I don't have cable as a tradeoff. Pretty good tradeoff as the silver is beginning to weigh quite a bit and the memory of the cable product has faded completely.

I also buy silver because Zippy says it's a bad idea. When a shill tells you what not to do, that's a sure indication of what to do.

[presence]

Lately I've been thinking about the notion of maintaining stockpiles of items such that at any given time I have enough to last me the rest of my life.

reported

[presence]

without a doubt SILVER is the better investment

to the ages of antiquity silver was always less than 17:1

current ratio is 83.5:1

for ONE ounce of gold you get 83 ounces of silver right now




If you dump gold here and move to silver you can 4X your gold holdings in the next decade.

http://www.silver-coin-investor.com/...ver-ratio.html
http://www.infomine.com/investment/p...ld-silver/all/

[kfarnan]

The problem with bitcoin is that it's a fiat currency (anyone can start their own coin), and it requires an infrastructure. gold/silver don't.

Incorrect. Fiat currency means government mandated. A currency isn't a store of value. PM's require an infrastructure as well. Tried paying for anything in gold coin lately?

[groverblue]

Incorrect. Fiat currency means government mandated. A currency isn't a store of value.

I stood corrected in a previous reply.

PM's require an infrastructure as well. Tried paying for anything in gold coin lately?

Do you mean legal infrastructure? If so, I have to disagree. Have you ever heard of mesh networks? They are self-supporting by the individual nodes that join. It's the same concept; a sum of the parts. I remember a friend used to trade VHS tapes with others all over the world. The network they built was from willing participants. The same applied to PMs, only PMs have a benefit in that everyone already places value on PMs. The PM industry wouldn't be thriving if it didn't already have a network of support built around it, regardless if it's legal tender.