The difference is that you understand the benefits of owning something real vs. something that is rehypothecated and “owned” 10 times over by 10 different individuals who think that they have a claim on the real thing.
Blitz apparently does not.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
I think that blitz should continue buying as much SLV as possible, and let the chips fall where they may.
It’ll make the end game just that much more meaningful when he can’t take delivery and the physical disappears overnight.
I buy and sell frequently, there is no intent for delivery, there is no intent for a long time hold. It's simply a trade. Physical gutter will never disappear overnight. Billions of ounces already above ground. More than whatg could ever be consumed. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
So, yes, if your SLV trade is all of five ounces, the bid-ask spread on those five shares in total is $0.01 (one cent).
Is that how much you typically trade in SLV ?
.
Gotta hand it to ya, you sure are trying. Lol
.
Trying what ?
I am pointing out that SLV does have fees and transaction costs. They are not "zero" as claimed.
But yes, the transaction costs are lower than retail physical silver. Of course they would be, since you never actually get any silver in your hands with SLV.
For long-term holding of silver, SLV is not a good choice (in my opinion). Half a percent of it evaporates every year.
In about 20 years 10% of it would be gone. And there is also counter-party risk which means there is a slim chance that 100% of it could be gone.
"In previous cycles this has set up a “supply shock” for the price of Bitcoin – driving prices higher. Sometimes mind-bogglingly so."
On 4/19 Bitcoin's supply rate (coins available the "miners") will be cut in half (happens every four years) a fixed supply that will reach zero at some point.
Here is my question: where does Bitcoin fall on this classic Exter's Inverse Pyramid?? (The hierarchy of financial assets) Derivatives of some sort? Securities? No Where?? Gold of course is at the peak (or the bottom of the inverse pyramid) since it is the only asset no no counter party risk in it's pure bullion form.,
@tincup said:
Here is my question: where does Bitcoin fall on this classic Exter's Inverse Pyramid?? (The hierarchy of financial assets) Derivatives of some sort? Securities? No Where?? Gold of course is at the peak (or the bottom of the inverse pyramid) since it is the only asset no no counter party risk in it's pure bullion form.,
two ways to hold Bitcoin with the associated risk determining their place in Exter's Inverse Pyramid:
(1) in a "wallet" where only you can get to the bitcoin. I would put this between gold and national currencies.
(2) in "paper" form where another party (crypto platform, Paypal, Robinhood, etc.) have your bitcoin, I would place this between derivatives and equity in the Pyramid.
It is my understanding that the Pyramid simply ranks assets by their associated risk.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@blitzdude said:
I'm guessing big sell off shortly after this "imaginary" ""halving"" event.
Why do you characterize the halving event as imaginary? Or did you use quotes to indicate sarcasm? It's not easy to interpret tone in prose sometimes.
I've profited of crypto and perhaps someday I will again. The fact of the matter though is it's all just imaginary digits. Satoshi may decide to pull the plug. Previous bagholders were left at least with a sack of tulip bulbs, a closet full of beanie babies and even bunkers full of gutter metal. I guess one could try to capture a photo of their digits. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
OK, but that does not answer my question. The halving - the reward rate earned by Bitcoin miners is a very real thing. It has happened and now miners are receiving half the BTC they were getting yesterday for mining blocks. Your characterization of the halving as imaginary is ... disingenuous.
@pmbug said:
OK, but that does not answer my question. The halving - the reward rate earned by Bitcoin miners is a very real thing. It has happened and now miners are receiving half the BTC they were getting yesterday for mining blocks. Your characterization of the halving as imaginary is ... disingenuous.
The token itself is imaginary hence the halving is an imaginary event of the imaginary token. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
@pmbug said:
OK, but that does not answer my question. The halving - the reward rate earned by Bitcoin miners is a very real thing. It has happened and now miners are receiving half the BTC they were getting yesterday for mining blocks. Your characterization of the halving as imaginary is ... disingenuous.
The token itself is imaginary hence the halving is an imaginary event of the imaginary token. RGDS!
LOL. I can trade my imaginary bitcoin for real dollars. Is your SLV imaginary?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@blitzdude said:
LOL, I traded my imaginary bitcoin for paper dollars and then traded the paper dollars for physical Au.
Is my SLV imaginary? Absolutely not. It is backed by the gutter metal sitting in JPMs vault. RGDS!
Just so I understand, you bought a promise for silver from the ETF fund? Then they have the country's largest criminal bank "hold" it in a vault? If it s there is your name on it or or you on a list that "holds" the same ounce of silver?
Sounds like there's some imagination in that formula.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@blitzdude said:
LOL, I traded my imaginary bitcoin for paper dollars and then traded the paper dollars for physical Au.
Is my SLV imaginary? Absolutely not. It is backed by the gutter metal sitting in JPMs vault. RGDS!
Just so I understand, you bought a promise for silver from the ETF fund? Then they have the country's largest criminal bank "hold" it in a vault? If it s there is your name on it or or you on a list that "holds" the same ounce of silver?
Sounds like there's some imagination in that formula.
I'm typically in and out of the SLV several times per year. JPM is one of the greatest institutions this planet has ever seen. I'd absolutely trust them holding my gutter metal over Satoshi holding my imaginary digital bitcoin wallets.
P.S. Can't believe we are even having this conversation. Crazy World! RGDS!!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Billions, Trillions, Quadrillions...bring on the Quintillions. BOOMIN! As they say either get on board or get left in the dust. It's the greatest of times to be alive. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
@blitzdude said:
Billions, Trillions, Quadrillions...bring on the Quintillions. BOOMIN! As they say either get on board or get left in the dust. It's the greatest of times to be alive. RGDS!
You would have fit right in with the Roaring Twenties (you know, that came before the thirties.)
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Within the past week or so CNBC modified its cryptocurrency banner (removed LTC and BCH, and added DOGE and SOL). This is absurdly remarkable. Entire platforms where the primary "utility" is the creation of meme tokens. Then again, is there real utility in any cryptocurrency? I'm thinking not so much. But I did just sell "fractional" BTC at $93k.
Austrian school of thought: "it only applies to government control of our money" - Mises Institute
"Right now, gold is in the forefront in the battle with the US dollar, but in the future, cryptocurrency—probably denominated in gold or silver—will wage an epic battle against governments and their paper money."
Got Gold Bitcoin?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Austrian school of thought: "it only applies to government control of our money" - Mises Institute
"Right now, gold is in the forefront in the battle with the US dollar, but in the future, cryptocurrency—probably denominated in gold or silver—will wage an epic battle against governments and their paper money."
True, but over the same month, Eth has been outperformed by the vast majority of popular alt coins, take your pick. As long as BTC has momentum (possibly as long as Jan or Feb I would guess) Eth is still likely to underperform relatively. But recent events have resulted in the latest craze.
@RobM said:
If this year and timing in the cycle is anything like it was in 2020, btc is going to blow through $100k this holiday weekend.
that move from 73K to 99K sure was fast, hopefully we retest that breakout before going to 150K
BST references: jdimmick;Gerard;wondercoin;claychaser;agentjim007;CCC2010;guitarwes;TAMU15;Zubie;mariner67;segoja;Smittys;kaz;CARDSANDCOINS;FadeToBlack; jrt103;tizofthe;bronze6827;mkman;Scootersdad;AllCoinsRule;coindeuce;dmarks;piecesofme; and many more
The rush into Bitcoin, precious metals and other crypto assets is the beginning of the same “flight into real values” of our era that Mises described in his era.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
If BitCoin gets to $1 MM then it too will have a market cap of $18 trillion. Of course, that assumes that gold stays about $2,700 an ounce.
So BTC bulls in 5-10 years think that if BTC goes up 9-10 fold it will match gold (again, if gold moves higher BTC will need a bit more of a kick to match).
@GoldFinger1969 said: Gold has a market capitalization of $18 trillion.
If BitCoin gets to $1 MM then it too will have a market cap of $18 trillion. Of course, that assumes that gold stays about $2,700 an ounce.
So BTC bulls in 5-10 years think that if BTC goes up 9-10 fold it will match gold (again, if gold moves higher BTC will need a bit more of a kick to match).
BTC bulls don't care about gold. That's why they choose it over gold. They're speculating on a better return. They have so far been proven correct. Bitcoin is no more a currency than are the silver eagles I trade to you for your gold eagles. Because I can trade bitcoin (with a lot of technical effort) for something does not make it money. Bitcoin, in 99.99% of all transactions involving it, is simply a handy vehicle for investment/speculation. Bitcoin is the result of blockchain technology created by US intelligence (based on a 1996 NSA white paper) to show there can be an alternative to cash. They even created it's mystery developer "Satoshi Nakamoto," and published a book on it under his name in 2008. Consider Bitcoin's blockchain technology a test run for Central Bank Digital Currencies (CBDCs), a replacement "currency" that gives governments full financial control over those forced to transact with it.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@jmski52 said:
It's just plain sick that the IMF wants to incentivize El Salvador to back away from bitcoin by "loaning" them a cool billion imaginary US dollars.
this is how international bankers take control of a needy country's infrastructure and economic policy.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Comments
.
No fees with SLV ?
That is false.
SLV has ownership fees (half a percent per year).
And how much does your brokerage account charge you to buy and sell ETF shares ?
.
Schwab 0% commission.
RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
.
But what is the bid/ask spread ?
.
Much less than physical gutter premiums. Usually .01 cents. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
.
So there are fees with buying and selling SLV, in addition to their "management fee" of 0.5% per year.
.
trading expense is normally expressed as a percentage over the trading amount and is added to the total whether buying or selling.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
O> @dcarr said:
.
One internet source indicates that the average SLV bid-ask spread is 0.07% :
https://seekingalpha.com/article/3827846-long-in-wrong-silver-bullion-etf
So, yes, if your SLV trade is all of five ounces, the bid-ask spread on those five shares in total is $0.01 (one cent).
Is that how much you typically trade in SLV ?
.
Gotta hand it to ya, you sure are trying. Lol
Knowledge is the enemy of fear
I think that blitz should continue buying as much SLV as possible, and let the chips fall where they may.
It’ll make the end game just that much more meaningful when he can’t take delivery and the physical disappears overnight.
I knew it would happen.
You mean "gutter SLV" as it is also a silver buy. Only difference is premium and physical vs. paper.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
The difference is that you understand the benefits of owning something real vs. something that is rehypothecated and “owned” 10 times over by 10 different individuals who think that they have a claim on the real thing.
Blitz apparently does not.
I knew it would happen.
I buy and sell frequently, there is no intent for delivery, there is no intent for a long time hold. It's simply a trade. Physical gutter will never disappear overnight. Billions of ounces already above ground. More than whatg could ever be consumed. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
.
Trying what ?
I am pointing out that SLV does have fees and transaction costs. They are not "zero" as claimed.
But yes, the transaction costs are lower than retail physical silver. Of course they would be, since you never actually get any silver in your hands with SLV.
For long-term holding of silver, SLV is not a good choice (in my opinion). Half a percent of it evaporates every year.
In about 20 years 10% of it would be gone. And there is also counter-party risk which means there is a slim chance that 100% of it could be gone.
.
Physical gutter will never disappear overnight.
Archived for posterity.😊
I knew it would happen.
The Bitcoin Halving Crash Course
"In previous cycles this has set up a “supply shock” for the price of Bitcoin – driving prices higher. Sometimes mind-bogglingly so."
On 4/19 Bitcoin's supply rate (coins available the "miners") will be cut in half (happens every four years) a fixed supply that will reach zero at some point.
The "Hardest" Money the World Has Ever Known
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Here is my question: where does Bitcoin fall on this classic Exter's Inverse Pyramid?? (The hierarchy of financial assets) Derivatives of some sort? Securities? No Where?? Gold of course is at the peak (or the bottom of the inverse pyramid) since it is the only asset no no counter party risk in it's pure bullion form.,
I'm guessing big sell off shortly after this "imaginary" ""halving"" event.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
two ways to hold Bitcoin with the associated risk determining their place in Exter's Inverse Pyramid:
(1) in a "wallet" where only you can get to the bitcoin. I would put this between gold and national currencies.
(2) in "paper" form where another party (crypto platform, Paypal, Robinhood, etc.) have your bitcoin, I would place this between derivatives and equity in the Pyramid.
It is my understanding that the Pyramid simply ranks assets by their associated risk.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Why do you characterize the halving event as imaginary? Or did you use quotes to indicate sarcasm? It's not easy to interpret tone in prose sometimes.
Yelling at clouds on pmbug.com
I've profited of crypto and perhaps someday I will again. The fact of the matter though is it's all just imaginary digits. Satoshi may decide to pull the plug. Previous bagholders were left at least with a sack of tulip bulbs, a closet full of beanie babies and even bunkers full of gutter metal. I guess one could try to capture a photo of their digits. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
OK, but that does not answer my question. The halving - the reward rate earned by Bitcoin miners is a very real thing. It has happened and now miners are receiving half the BTC they were getting yesterday for mining blocks. Your characterization of the halving as imaginary is ... disingenuous.
Yelling at clouds on pmbug.com
The token itself is imaginary hence the halving is an imaginary event of the imaginary token. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
LOL. I can trade my imaginary bitcoin for real dollars. Is your SLV imaginary?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
LOL, I traded my imaginary bitcoin for paper dollars and then traded the paper dollars for physical Au.
Is my SLV imaginary? Absolutely not. It is backed by the gutter metal sitting in JPMs vault. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Just so I understand, you bought a promise for silver from the ETF fund? Then they have the country's largest criminal bank "hold" it in a vault? If it s there is your name on it or or you on a list that "holds" the same ounce of silver?
Sounds like there's some imagination in that formula.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I'm typically in and out of the SLV several times per year. JPM is one of the greatest institutions this planet has ever seen. I'd absolutely trust them holding my gutter metal over Satoshi holding my imaginary digital bitcoin wallets.
P.S. Can't believe we are even having this conversation. Crazy World! RGDS!!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Crazy World is infected with derivatives
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Billions, Trillions, Quadrillions...bring on the Quintillions. BOOMIN! As they say either get on board or get left in the dust. It's the greatest of times to be alive. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
You would have fit right in with the Roaring Twenties (you know, that came before the thirties.)
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
ETFs for ETH approved today. Will start trading later. Hold on to your hat.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Within the past week or so CNBC modified its cryptocurrency banner (removed LTC and BCH, and added DOGE and SOL). This is absurdly remarkable. Entire platforms where the primary "utility" is the creation of meme tokens. Then again, is there real utility in any cryptocurrency? I'm thinking not so much. But I did just sell "fractional" BTC at $93k.
Bitcoin and Gresham’s Law
“bad money drives out good money" - Gresham
Austrian school of thought: "it only applies to government control of our money" - Mises Institute
"Right now, gold is in the forefront in the battle with the US dollar, but in the future, cryptocurrency—probably denominated in gold or silver—will wage an epic battle against governments and their paper money."
Got Gold Bitcoin?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Looks more like Ethereum is on life support.
doesn't need life support. Up 26% in past month. Up 7.5% in past nine hours.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
True, but over the same month, Eth has been outperformed by the vast majority of popular alt coins, take your pick. As long as BTC has momentum (possibly as long as Jan or Feb I would guess) Eth is still likely to underperform relatively. But recent events have resulted in the latest craze.
Like silver derivatives, SLV etc., cryptos have to be closely monitored and profits taken often.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Knowledge is the enemy of fear
donuts have to also be closely monitored when the dozen is placed on a table.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
If this year and timing in the cycle is anything like it was in 2020, btc is going to blow through $100k this holiday weekend.
that move from 73K to 99K sure was fast, hopefully we retest that breakout before going to 150K
jdimmick;Gerard;wondercoin;claychaser;agentjim007;CCC2010;guitarwes;TAMU15;Zubie;mariner67;segoja;Smittys;kaz;CARDSANDCOINS;FadeToBlack;
jrt103;tizofthe;bronze6827;mkman;Scootersdad;AllCoinsRule;coindeuce;dmarks;piecesofme; and many more
Definitely no BTC rally over the TG holiday. Surprising how little volatility specifically in BTC.
If the Fed Chair says it's 'digital gold'...
$100K!!!!!!!
Still holding my Shib, along for the ride.
The rush into Bitcoin, precious metals and other crypto assets is the beginning of the same “flight into real values” of our era that Mises described in his era.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Gold has a market capitalization of $18 trillion.
If BitCoin gets to $1 MM then it too will have a market cap of $18 trillion. Of course, that assumes that gold stays about $2,700 an ounce.
So BTC bulls in 5-10 years think that if BTC goes up 9-10 fold it will match gold (again, if gold moves higher BTC will need a bit more of a kick to match).
BTC bulls don't care about gold. That's why they choose it over gold. They're speculating on a better return. They have so far been proven correct. Bitcoin is no more a currency than are the silver eagles I trade to you for your gold eagles. Because I can trade bitcoin (with a lot of technical effort) for something does not make it money. Bitcoin, in 99.99% of all transactions involving it, is simply a handy vehicle for investment/speculation. Bitcoin is the result of blockchain technology created by US intelligence (based on a 1996 NSA white paper) to show there can be an alternative to cash. They even created it's mystery developer "Satoshi Nakamoto," and published a book on it under his name in 2008. Consider Bitcoin's blockchain technology a test run for Central Bank Digital Currencies (CBDCs), a replacement "currency" that gives governments full financial control over those forced to transact with it.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
IMF Wants El Salvador to Repeal Bitcoin’s Legal Tender Status
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
It's just plain sick that the IMF wants to incentivize El Salvador to back away from bitcoin by "loaning" them a cool billion imaginary US dollars.
I knew it would happen.
this is how international bankers take control of a needy country's infrastructure and economic policy.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong