Btw gold peaked at $1362 again as Armstrong predicted:
Why are you trying to rewrite history? Armstrong did not predict jack shit because he said gold was going under $1000. It's cost of production is anywhere from $800 to $1500 or so for different manufacturers, with the average cost supposedly being around $1050-1100. Silver is probably around $16-17 for cost of production.
While there is such thing as sunk cost fallacy, silver is far far less capable of being sold under cost of production due to having more industrial use and demand with not much above ground stock (it's been in deficit year after year).
For anyone who doubts the power of silver, it now requires moving twice as many tons of earth to generate 1 oz of silver as it did 10 years ago. I've seen claims we only have 20 years of silver and 15 years of zinc mining left, which seemed pretty insane, but when you look at actual mining industry stats like this, you can clearly see the low hanging fruit appear to be entirely depleted and something big is going on.
And here's a question you'll never see cryptoshills like Sidhujag able to answer:
It is said the purpose of metals is a hedge against government. Since the transaction validators of all cryptocurrency are designed to centralize, and thus inevitably be controlled by the govt directly or indirectly, just what the fuck is bitcoin supposed to be a hedge against? It's sure as fuck not a hedge against government.
Bitcoin is a better hedge against govt than gold currently. This is the perception currently as you are blind to facts. Gold selling off even in face of korea missle tests while bitcoin rising. The younger generation is pro bitcoin and con gold.
Gold has issues with MOE and UOA which makes it centralized since you cannot provably spend gold to someone else without trust and thus relationship between users and their money breaks down as central authorities start to obfuscate holdings by lending gold they do not own. Seems you have not done your homework yet again. In fact this is what already has happened with gold.
All we have to solve is miner variance with bitcoin and we are good to go. Its not that hard actually. I have a few ideas on how to do it and will probably try it with syscoin.