In many developing countries where gold and silver are so important almost every function in the house is related with it , the dieties the important utensils , earrings and other ornaments , these precious stones are always over the top.
Now the recent survey shows that silver is loosing ground due to cryptocurrencies, and these precious stones are now getting cost stabilized.
What you think is it a good or a bad news ?
Well personally I think it's a pretty good news more and more people will be able to afford it and also I think these precious metals are over valued so it's doing good that it's somehow getting their value down and establishing it's own place.
How can you compare silver with Bitcoin? I mean one is a metal and other is a digital currency. You would have made some sense if you had compared the investment side of silver with Bitcoin, but you yourself stated so many other uses of silver. How can Bitcoin be used as an important utensil, earrings or ornaments, etc? So I dont think Bitcoin can affect the silvers consumption in any way.