Post
Topic
Board Altcoin Discussion
Re: Take refuge in bitSILVER
by
StanLarimer
on 27/01/2015, 16:57:53 UTC
The question that intrigues me is how am I going to play it on The Day the Dollar Dies?

Owning physical silver is really best mostly for this scenario, because until then the artificial supply of paper silver is going to overwhelm the demand for physical.

This black swan could hold off for decades and then happen overnight.

When it does, paper silver will drop in value and physical will climb - but you won't be able to get any by then.

Even if you have physical, can you unload it fast enough at the blow-off top (the day a One World Fiat Currency is announced and made mandatory legal tender, or some other fiat discontinuity?)  Who will you trust shipping your physical for sale during that chaos?  And what fiat will you want in return?

I like the ability to hop back and forth between crypto destinations in the flight to safety:  BitSilver and other cryptos, especially BTS and BitBTC.  I can hop between them in ten seconds on the BitShares Decentralized Exchange - assuming I'm smart enough to know when to hop.

And I won't need any traumatized centralized exchange on a bank holiday to do it for me.

The only trouble I see is deciding whether BitSilver or BitShares is going to rise faster in that scenario.  I'll probably hold both, knowing I can change my mind every 10 seconds for pennies.