Sold of My Entire Bullion Collection In Order To Purchase BitCoins

Discussion in 'Bullion Investing' started by Tyler, Apr 1, 2013.

  1. Nathan401

    Nathan401 Quis custodiet ipsos custodes? Supporter

    Not so sure about that Michael. It’s all institutional money now.
    Michael K likes this.
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  3. Michael K

    Michael K Well-Known Member

    Yes I'm not sure how this new introduction of crypto currency is going to
    affect the market. That's why I am asking people more knowledgeable about this different economic dynamic than myself. We didn't have this crypto currency when we were discussing widgets in the 1980s.
    Nathan401 likes this.
  4. Ima Dragon

    Ima Dragon Year of the Dragon

    I'm so glad I found this forum . A wealth of information , photos of coins/currency and JOKERS .
  5. Michael K

    Michael K Well-Known Member

    While the OP started out as a joke, the thread has been a serious discussion the last few years.
  6. Dillan

    Dillan The sky is the limit ! Supporter

    Facebook and a couple of big players are coming out with a new Crypto currency shortly . This may be a shot at the big time if a person so chooses? Dillan
  7. ToughCOINS

    ToughCOINS Dealer Member Moderator

    I think that Libra stands a far better chance of being embraced by the broader market than does BitCoin. BitCoin has been little more than a very creative confidence operation while Libra is being bankrolled by some of the most important players in the commercial exchange market. Their deep involvement in this new digital currency brings a level of credibility that BitCoin advocates can only fantasize about.

    Yes, BitCoin's days are indeed numbered. It'll take a while for its devotees to give up on it, but give up they will. It will die a very long, very slow death . . .
    midas1, Dillan and Michael K like this.
  8. Lesbian Cow

    Lesbian Cow Member

    BTC back over 10k usd each.
  9. Dillan

    Dillan The sky is the limit ! Supporter

    I do not think it will go silly in price like Bitcoin , but just the same it may be a worthwhile investment buying at the ground floor and selling just before all the hype ends. Dillan
    Pickin and Grinin and midas1 like this.
  10. -jeffB

    -jeffB Greshams LEO Supporter

    Happy to be of service.

    Now, would you like to explain to everyone why you're holding on to a number of coins made of silver, that vile, trashy metal of fools, more than two years after you received a cashier's check from another forum member who agreed to buy it?

    If not, people might not attach the weight you'd prefer to your opinions on what is or is not a good investment. Or a scam. Just sayin'...
    midas1 likes this.
  11. Michael K

    Michael K Well-Known Member

    OK this price is amazing.

  12. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Oh, I don't know . . . it's the misplaced confidence I find amazing.
  13. Michael K

    Michael K Well-Known Member

    Well I just meant that the recent run up went much higher than I expected.
    Even if the price is being manipulated, someone has to be buying it to do that.
    And that takes a lot of money.
  14. EdThelorax

    EdThelorax Well-Known Member

  15. imrich

    imrich Supporter! Supporter

    Would you consider that it's all relative in degrees of misplaced confidence to our Fiat currency? We might weigh the relativity in the future when there may be a Chinese (or others) cryptocurrency, avoiding the U.S. sanctions and banking "system".

  16. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Oh, don't get me wrong, I'm not implying that confidence in the USD or any other fiat currency is not misplaced either . . . maybe just a little less so.

    As for relative levels of trust, I would much sooner trust the Libra when it emerges than I would the BitCoin, as the backers of the former have much more at stake . . . not in dollars, but in credibility. As for trusting the USD, I trust it more than the yuan and less than the Swiss Franc.
    imrich likes this.
  17. midas1

    midas1 Exalted Member

    Why would he rip somebody off for a $100.00?
    This is the guy beating the drum for gold investing.
    Make no sense to me.
  18. CoinCorgi

    CoinCorgi Derp, derp, derp!

    That $100 is his only profit.
    ToughCOINS likes this.
  19. midas1

    midas1 Exalted Member

    I believe it's significantly different from the current crop of cryptocurrencies -
    From the Economist:
    ". . . The Libra’s value will be pegged to a basket of major currencies, it will be able to handle large transaction volumes and 28 other big firms say they will join a consortium backing the currency. If Facebook’s 2.4bn users adopt Libra to shop and transfer money, it could become one of the world’s biggest financial entities. That would herald a consumer revolution—but could also make the financial system less stable and reduce governments’ economic sovereignty. . . "

    Many countries and companies have been wanting to get away from the US dollar as the international currency of record. The Libra might be just what they've looking for.
  20. midas1

    midas1 Exalted Member

    "We didn't have this crypto currency when we were discussing widgets in the 1980s. . . "

    The Libra isn't a cryptocurrency. It's pegged to a basket of
    major currencies. Cryptocurrency is backed only by the ether.
    Last edited: Jun 23, 2019
  21. Michael K

    Michael K Well-Known Member

    It hasn't been pegged yet. And when I wrote that post it was being
    described as a digital currency.
    It's not currency as it has no country/ government behind it.
    Just because they have money, doesn't mean they can launch their
    own currency.
    I initially took it to mean that it would be some type of Pay Pal/ e wallet.
    So FB users could use it to buy things.
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