Debt Ceiling Effects On Gold and Silver

I don't think anyone said it could not be done. The question is was it easier to steal bitcoins or Physical PM.

 

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I'm not for them or against them. There are things that don't add up on both sides of fence. Remember when they claimed they were only used to buy drugs and porn. Well Silkroad is closed so why aren't Bitcoins worth 29 cents now? I'm not jumping through hoops to find out what's real and what's BS with Bitcoins. Besides, silver is prettier than algorithms.

 

Amen lol

 

Well said. To hack bitcoins is next to impossible with millions of computers confirming transactions, and you will need to control at least 51% of them to have some chance to take down the bitcoin network.

As we speak 1 BTC (a unit of bitcoin, FYI) is now worth US$400 thanks to the surging demand caused by the U.S. government shutdown and potential default.

There are people who also blindly believe in the so-called "Federal Reserve Notes" which is backed by computer digits (not gold - the gold standard is gone long time ago).

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Bitcoins get lost and stolen because people get careless with them, just as they might with small valuables or a real wallet. Anyone who foolishly decides to store their bitcoins in the cloud or on a website designed for that purpose is open to the danger of getting hacked -- and some folks have been. The bitcoin concept itself is inherently secure and as close to mathematically impossible to counterfeit as is reasonably practical. Keeping bitcoins safe is an entirely separate issue and the responsibility of the owner.

Securing bitcoins is no more complicated than putting them on a flash drive in a safe place. Mine are in a safety deposit box along with my real coin collection, something I was compelled to do since the recent price runup.