Quote from: geekcryptogal on February 12, 2018, 03:44:23 AM

Is silver a good idea to buy now?

I would say: no.

The problem with gold and silver is, they carry no utility other than past history. They can't be exchanges for goods or services. There's no infrastructure in place where precious metals can enable a form of electronic payment. They can be difficult to store and are likely easier to steal than say bitcoin for example. They're can also be difficult to physically transport from one place to another.

In addition to the above, there isn't anyone who actually uses precious metals for anything. It has no purpose. Banks and governments hoard precious metals. Other than that, they can't be used for anything. This reduces their value below where it would be if a gold standard or regulatory system were in place to allow precious metals to compete with fiat and other currencies on an even playing field.

There's a school of thought which says: "gold and silver have intrinsic value, they would still be worth something if a war or zombie apocalypse broke out". Looking at puerto rico which was recently hit with that unfortunate hurricane, I doubt anyone will be exchanging gold or silver there anytime soon. There's no infrastructure in place to support a precious metals exchange market and there probably never will be due to special interests not wanting precious metals to compete directly with fiat currency or electronic money.

Precious metals will never be worth anything simply because there's nothing they can be used for and no infrastructure in place to support exchange. They have no utility and the powers that be want it that way.