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Thread: Bitcoin $2400.00 .... silver $17.00

  1. #1
    Unobtanium
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    Bitcoin $2400.00 .... silver $17.00

    http://www.blacklistednews.com/Bitco...38/38/Y/M.html

    Source: Zero Hedge

    Following comments from DoubleLine's Jeff Gundlach tieing the surge in virtual currencies to the demise of China (right before that nation is downgraded), Bitcoin surged overnight, breaking above $2400 for the first time. It is now up over 150% year-to-date.
    Bitcoin is up fopr the 26th day in the last 29 sessions, doubling in price in that period...

    http://www.zerohedge.com/sites/defau...0524_BTC_0.jpg



    Wednesday's gain comes after a bitcoin scaling agreement was reached by the Digital Currency Group, representing 56 companies in 21 countries, at the Consensus 2017 conference in New York, which reduced some of the fears surrounding the so-called 'hard fork' in Bitcoin's code. The agreement states:


    Paper Vs. Physical: The Amazing Amount Of Leverage In The Silver Market

    http://www.zerohedge.com/sites/defau.../picture-5.jpg
    by Tyler Durden
    May 17, 2017 11:47 AM


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    Authored by Steve St.Angelo via SRSroccoReport.com,
    While many precious metals investors realize the massive amount of paper trading leverage taking place in the gold market, they should see what is going on in the silver market. In a previous article, I provided data showing that an amazing $9.8 trillion of notional gold paper trading took place on the world’s exchanges in 2016 versus $42 billion in actual physical gold investment. This was a paper to physical ratio of 233 to 1.
    However, the amount of paper trading leverage in the silver market is much higher than that.
    But, before I get into the specifics of the paper silver market trading leverage, let’s take a look at the pathetic amount of physical silver investment versus Central Bank asset purchases. According to the data in the recently released 2017 World Silver Survey, total physical silver investment for 2016 came in at a whopping $4.4 billion:


    https://dj0s31cxqi9ot.cloudfront.net...016.png?x65756
    That’s correct. When we add up all the global silver investment demand last year, it adds up to a measly $4.4 billion. It was nearly ten times less than all physical gold investment in 2016. The analysts who wrote 2017 World Silver Survey, arrived at the $4.4 billion figure by using the following data:
    Global Silver Investment 2016 (in million oz – Moz):
    Physical Bar Investment = 83.6 Moz
    Official Coins & Medals = 123.2 Moz
    ETP (ETF) Inventory Build = 47 Moz
    Grand Total Silver Investment = 253.8 Moz
    By adding up total Physical Bar investment of 83.6 Moz, Official Coins & Medals of 123.2 Moz and ETP (ETF) Inventory Build of 47 Moz and then multiplying it by the average silver spot price of $17.14, it totaled $4.4 billion.

    http://www.zerohedge.com/news/2017-0...-silver-market


    Fidelity Is Mining Bitcoin, CEO Abigail Johnson Admits

    http://www.zerohedge.com/sites/defau.../picture-5.jpg
    by Tyler Durden
    May 24, 2017 4:15 AM


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    In what bitcoin geeks undoubtedly interpreted as a sign of bitcoin’s renewed relevance now that its price is at all-time highs, Fidelity CEO Abigail Johnson told CoinDesk’s Consensus conference that her company is now in the business of mining bitcoin.
    Per the FT:
    “Ms Johnson noted that Fidelity has also set up a bank of computers built by 21 Inc that can crunch complex algorithms to be rewarded with bitcoin.

    My…computer has mined over 200,000 satoshis,” she said, using the name for the smallest unit of bitcoin.
    Her remarks coincide with an astounding rally in virtual currencies like bitcoin. As DoubleLine’s Jeffrey Gundlach noted on Tuesday, bitcoin is up 100% in under two months, implying that the turmoil in Chinese markets was driving more locals into bitcoin.
    http://www.zerohedge.com/sites/defau...tcointwo_0.JPG
    One coin was trading at $2,275 Tuesday according to Coinbase, the latest in a series of all-time highs as global uncertainty rises...

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    Unobtanium Dogman's Avatar
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    Re: Bitcoin $2400.00 .... silver $17.00

    sumthing out of nothing real could be called the same as fractional banking. Value is what is perceived as something that does have value, like bartering and such.

    Fads and such wane and peak, virtual currency's are as I see it is a fad that most are created out of nothing but computer power and time and have a perceived value to they that play the game. But other than living on a hard drive , which it seems like of most currency's do, is a conundrum.

    Real value historically is precious items, metals, jewels and such that are rare and are real.

    The thought that money can be created by computing power alone makes me ? .

    Value is what the majority places on an item or process, bitcoins to me are the same as any value created by fractional banking but without the larger perception of the majority vs other currency's backed at least in name by real value, as gold and silver.

    But unlike virtual, hard play money or real value in hand trumps value that can go poof by the a digital disasters ak the power goes out.

    Good conundrum

    Like most fads , play hard but know when to get the fuck out..

    But also as long as the internet in one shape or so, virtual currency will be a player imho.


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    Unobtanium PatColo's Avatar
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    Re: Bitcoin $2400.00 .... silver $17.00

    I was just poking around at bitcoin related stocks; this little penny jobee, around 4 cents today, has a nice cup/handle going beginning top of march... birds of a feather...
    http://stockcharts.com/h-sc/ui?s=BTSC

    arguably a big sloppy C/H beginning around March '16,
    http://stockcharts.com/h-sc/ui

    on yahoo,
    https://finance.yahoo.com/quote/BTSC?p=BTSC
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    Unobtanium PatColo's Avatar
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    Re: Bitcoin $2400.00 .... silver $17.00

    FAKE "ELECTIONS" - Why Ron Paul Can't "Win"

    "If telling the truth marginalizes you, then that is the place to be. After all, if enough people are willing to be marginalized, then before you know it, society has developed a different center. This is the politics of truth." -- E. Martin Schotz

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    Moderator madfranks's Avatar
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    Re: Bitcoin $2400.00 .... silver $17.00

    We're in another irrational rally. Who knows when it'll peak, but it's going to crash down hard again. This has happened three of four times before.
    "Liberty is so creative, and the government is so stupid, that I’m very optimistic about the future"
    - Lew Rockwell

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    Unobtanium
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    Re: Bitcoin $2400.00 .... silver $17.00

    $4K in Korea.
    Great minds discuss Ideas, Average minds discuss Events, Small minds discuss People. E.R.

    Anytime I'm in doubt I go outside and give it a little shake.
    Liberty Tree.


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    Moderator madfranks's Avatar
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    Re: Bitcoin $2400.00 .... silver $17.00

    Quote Originally Posted by Glass View Post
    $4K in Korea.
    Good arbitrage opportunity?
    "Liberty is so creative, and the government is so stupid, that I’m very optimistic about the future"
    - Lew Rockwell

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    Iridium Jewboo's Avatar
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    Re: Bitcoin $2400.00 .... silver $17.00

    I'm the infamous Fred of GIM - Jewboo kindly turned over his account to me.

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    Rebel Without a Clue sirgonzo420's Avatar
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    Re: Bitcoin $2400.00 .... silver $17.00

    I was just in Amsterdam last month and the tulip business is still booming.

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  14. #10
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    Re: Bitcoin $2400.00 .... silver $17.00

    Quote Originally Posted by sirgonzo420 View Post
    I was just in Amsterdam last month and the tulip business is still booming.

    Hi sirgonzo420... Long time

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