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!
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.
@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!
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!
@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?
@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.
@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!!
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!
@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.)
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™.
.
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™.
.
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.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
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.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
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™.
.
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
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
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™.
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.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
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™.
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™.
LOL. I can trade my imaginary bitcoin for real dollars. Is your SLV imaginary?
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
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™.
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.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
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™.
Crazy World is infected with derivatives
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
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™.
You would have fit right in with the Roaring Twenties (you know, that came before the thirties.)
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
ETFs for ETH approved today. Will start trading later. Hold on to your hat.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.