Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I don't hold any precious metals even though I kind of like the idea, however I don't get silver. It's nice and all but not nearly valuable/rare enough to make sense as a store of value. And of course it's also, for the same reason, impractical. Stashing away some gold coins is easy, including on ones person. Doing the same with silver, that's another story.
Silver is useful in itself so there's that. But in eotwawki terms, how are you going to get change for a can of beans from 1oz of gold?
Silver is Litecoin to gold's Bitcoin
I agree about the gold, but silver doesn't really solve it, I guess if you're desperate for that one cheap item it's better to lose a silver coin than a gold coin...if the other party even wants a silver coin.
In a scenario where you need to spend gold coins I guess the idea is to find someone who can provide something of use in good quantities/qualities : a stash of food, a gun, etc.
Apples and oranges. Both gold and silver will always be needed, seeing as they are basic elements on the periodic table. But there is a lot more silver than gold in this world, so it is not as valuable. That's how I see it. But I would consider neither a Litecoin, as they are fundamentally different things.
Both have industrial uses. Does silver really have a use if we're back to the iron age ?
We know how to make steel now. I doubt we are going back unless everyone on earth suffers from sudden amnesia from an alien attack. No doubt they will try to steal our Bitcoins.