patrick.net

I could have bought one for $20 but ended up paying $35 ($3 over spot price). I believe it will be worth much more in the future. In 1979 it was almost $50 per ounce.

Onvacation says

Bought my first bitcoin.

I noticed that the prices were going up and I thought I should grab one before they go higher.

Mostly I bought it as a novelty but I'm pretty sure it will be worth more in the long run.

I just worry about the day it goes to zero. That's ultimately what's going to happen. No disclosure like stocks. Who knows if 80% of it is held by 10 people just playing a game? They get to decide when the game is over. This literally is a video game financial instrument.

I also don't know if this is sarcasm.

Onvacation says

I could have bought one for $20 but ended up paying $35 ($3 over spot price). I believe it will be worth much more in the future. In 1979 it was almost $50 per ounce.

Carful trying to get through TSA with that.

Maga_Chaos_Monkey says

Carful trying to get through TSA with that.

TSA doesn't care anymore. They'll stop me after scanning my bag, but it would be easy to move drugs, money or anything. My buddies and I (not so much now) would move good personal amounts of weed no problem.

One buddy got frisked and just asked for a female TSA agent and had a bag tucked in his underwear by his taint. She'd really have to grab onto his balls to find it. If you do coke (I don't and haven't) that is even easier.

I know it sounds boisterous, but I don't give a shit anymore. I can buy weed anywhere I'm going. Leave me the fuck alone. I'm an ass hole and will make complaints if needed against TSA agents. I flipping paying them. Not sure when an 1/8th of weed would take a plane down. Pretty sure there are other problems in that realm.

WookieMan says

TSA doesn't care anymore.

I was joking!

Onvacation says

I could have bought one for $20 but ended up paying $35 ($3 over spot price). I believe it will be worth much more in the future. In 1979 it was almost $50 per ounce.

1 ounce silver was around $48 an ounce during the middle of Obama's first term (April 2011 and with all the Quantitative Easing and Zero Interest Rate Policy [ZIRP] ).

It was $36 around December 1979. The 2011 price is its all time high price (non inflation adjusted).

https://www.macrotrends.net/1470/historical-silver-prices-100-year-chart

If you bought an ounce of silver in December 1979, the inflation adjusted price was $145, and an inflation-adjusted price of $68 in April 2011 compared to the current price of $32.50 :-/

I guess if we get another version of Birdbrain Biden in the White House then maybe silver will increase in value a lot, and as much as Bitcoin has.

I wonder how much a silver would cost if crypto like Bitcoin would not be as popular.

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AD says

1 ounce silver was around $48 an ounce during the middle of Obama's first term (April 2011 and with all the Quantitative Easing and Zero Interest Rate Policy [ZIRP] ).

It was $36 around December 1979. The 2011 price is its all time high price (non inflation adjusted).

Silver’s all-time high is $49.45, which was the metal’s price on January 18, 1980. The Hunt brothers tried to buy it up. I remember being able to get $8 at the local coin shop for a silver half dollar back in the late 1970's.

I suspect my one ounce silver bitcoin will eventually be worth more than a digital bitcoin.

Onvacation says

I suspect my one ounce silver bitcoin will eventually be worth more than a digital bitcoin.

So you buy silver as an extreme hedge or insurance for fiat currency (US dollar) ?

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AD says

So you buy silver as an extreme hedge or insurance for fiat currency (US dollar) ?

I collect coins.

I like the beauty and history of old coins. New coins are cool too.

Bitcoins are boring.

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Bitcoin price hovers around 100k right now. I predict it will go higher. I would not be surprised if the price doubles or quintuples before its ultimate crash. The greater fools don't know any better.

The price is so high because there is so much money chasing so few coins. The concept of "market cap", total coins times price per coin, does not apply to bitcoin as there is no underlying value but the hope that some greater fool will pay more for the bits than the current buyer currently paid.

It's an expensive and wasteful game tying up capital and consuming vast resources just like the silver coins in my safe. The difference is my silver has real substance and real value as well as being aesthetically pleasing. Bitcoins are nothing but zeros and ones floating on ether.

Onvacation says

Bitcoin price hovers around 100k right now. I predict it will go higher. I would not be surprised if the price doubles or quintuples before its ultimate crash. The greater fools don't know any better.

In the past, I recall it used to be that a hedge bet as far as fiat currency was to put at least 10% of assets in a precious metal trust ETF and 10% in oil and gas ETF and the rest in a balanced fund like a 70/30 fund.

When the Bitcoin ETFs were about to be rolled out, I remember "The Mooch" saying on Bloomberg TV while at Davos that he was recommended to his clients to keep about 4 to 5% of assets in a Bitcoin ETF.

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