Sold of My Entire Bullion Collection In Order To Purchase BitCoins

You just need to do better research on "experts"......

BitCoin is a speculation, not an investment. It doesn't pay dividends or interest. Capital gains depend on buyers buying higher.

If BitCoin goes to $50,000 then gold will be $4,000. That's good enough for me. I can look at bullion proof coins or Saint-Gaudens MS66's.....can't do that with digital bits or bytes or whateve.

 

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In the past yes, but that was decades ago. Bitcoin also gets used as a medium of exchange.

Not really. Again there's a huge generational gap here. While I am not pushing bitcoin or even encouraging it as it is to expensive to make much difference to pretty much anyone, such a statement just isn't true and my only goal is to bring rationality.

The first bitcoin purchase was in 2014 where someone offered 10k bitcoin for two pizzas. Today that is worth over 110 million making it the most expensive pizzas ever

And plenty bought silver at 50 and 49 and 45 and 39 and countless other examples that have been under water for a decade.

There's no point to that it was once higher argument.

Not necessairly. Gold didn't spike last time it did. It's it's own entity.

 

Political, financial, economic, Dollar, and Virus risk will drive both up.

I'll take gold. Can't slab a BitCoin.

But any High Relief BitCoins available, let me know....

 

So you sold those 70,000 bitcoins at 250 = 17.5 million dollars

That's definitely better than holding silver at $40

You got 17.5 million dollars. Most of the silver crowd doesn't have $175

 

Jiggysmb I assume ur kidding. That would be 17.5 million

 

Just noticed that the OP was last seen in 2016...did he make his fortune, bought an island and is now living in opulence...

 

Got off the track sorry.
Current price is $11,890.
Seems ridiculous to me.

 

You sure about that?

https://www.greatcollections.com/Coin/864029/2013-Brass-Casascius-Loaded-1-Bitcoin-ANACS-MS-67



And I have no idea whose auction that is before anyone tries to say that's my item.

 

No that was Kurt Bellman

 

Just came to say that you got me for a moment... lol

 

$10,526.90

 

Winning bid:
Dosen'tmake a lot of sense to me BTC closed @ 10,510.798
I don't own anything graded by ANAC and probably never will.
Maybe paying $21,939.50 is God's way of alerting the buyer he's has too much money.

 

It never ceases to amaze me that the folks who most see conspiracies in the failure of gold and silver to be 100% higher nonetheless want to believe in something as manipulated and non-transparent as BitCoin.

 

To be honest most people just don't understand bitcoin such as what it is or why it has the value especially on coin forums. Takes to much money to really make it worth it at this point and stocks will likely give much better returns for the average person, but short of every government in the world actively banning it and enforcing the ban (which is impossible and still may not be enough) bitcoin isn't going anywhere. I'm pretty sure I said that same thing a couple years ago on here as well and it came back when everyone said it was dead

 

Ouch!!

If I were you I would’ve kept at least some of my precious metals.

Bitcoin just seems like too much of a bubble to me.

No one is using it as a currency to buy or sell because everyone is just holding onto it as an investment hoping prices will go up.

It’s a lot like the Tulip Mania in the Netherlands where people were paying insane amounts of money for tulip bulbs but in the end it all came crashing down because no one ended up using the tulip bulbs for their actual purpose and people just held onto them like bitcoin hoping they would go up.

 

Do you realize if the OP had actually sold all his PMs for bitcoin 7 years ago when the thread was started they would be rich?

Everyone that went heavy on bitcoin in 2013 is a multi multi multi millionaire if not a billionaire now if they didnt sell or lose it

False. It is used in many places especially overseas.

Same bad argument was made 2 years ago by someone else yet here we are still in this "bubble"

 

1). Bubbles can last decades.

2). People only get rich when they SELL bitcoin at a higher price than they paid.

3). Bitcoin will never be a commonly used currency. In fact governments wouldn’t allow it since it’s not legal tender and only the government had the authority to issue legal tender currency.


The Dutch who bought Tulip Bulbs for 10 years wages would’ve also laughed at you if you told them it was a bubble.

Just like the Dot-com bubble investors.

It will pop. It’s just a matter of when. It could be this year or in 10 years but it will pop.