PDA

View Full Version : Meddling in Bitcoin and silver



wishinshow
7th December 2014, 12:56
Hello

I hope we will see a world of abundance without the need for money.

And I have decided to attempt to insulate myself to a potentially difficult change over to this potential new world by Meddling in bitcoin and physical gold silver ownership.

I am particularly interested in cloud mining of bitcoin/altcoin. Arbitrage trading of bitcoin/altcoin. And I am interested in the trading of the gold silver ratio. I further know of ways to purchase silver VAT free in the UK and other parts of Europe.

If anybody is interested in the above, I offer this thread as a discussion point.

Best wishes from Copenhagen.

peterpam
7th December 2014, 13:12
I have to admit you have me curious wishinshow. What do you mean by cloud mining bitcoin/altcoin?

wishinshow
7th December 2014, 19:40
I think google can tell you better than me. I am also concerned that I might be infringing upon forum rules if I offer investment advice here. My email is thompson.xander@gmail.com

Anchor
7th December 2014, 23:04
What do you mean by cloud mining bitcoin/altcoin?

In this context "cloud" means renting specialised-computing horsepower to do the computing work necessary to drive the bitcoin network. Such work is incentivised by the payment to the worker in bitcoin.

Altcoins are forms of crypto-currency that are not bitcoin.

Achieving a consistent return on investment in crypto currency mining is very difficult.

andrewgreen
8th December 2014, 07:18
The Vat paid on gold is the key reason I have never bought any, it just seems the Government/Elites were pushing gold trading as a way to extract yet more tax. Also the gold exchange in London is Rothschild owned and I expect in the US too.
I am very interested on buy gold VAT free so would appreciate the advice.

Anchor
8th December 2014, 07:43
The Vat paid on gold is the key reason I have never bought any, it just seems the Government/Elites were pushing gold trading as a way to extract yet more tax. Also the gold exchange in London is Rothschild owned and I expect in the US too.
I am very interested on buy gold VAT free so would appreciate the advice.

There is no VAT on Gold bullion unless things changed recently (Or did you mean Silver?). [ http://www.thegoldbullion.co.uk/blog/why-is-there-no-vat-on-gold/ ]

When I was in the UK (pre-2006) I never paid VAT on gold bullion.

Silver attracted VAT but the suggested course there is to find dealers in the Ilse of Man who can post it to you.

wishinshow
8th December 2014, 13:25
The Vat paid on gold is the key reason I have never bought any, it just seems the Government/Elites were pushing gold trading as a way to extract yet more tax. Also the gold exchange in London is Rothschild owned and I expect in the US too.
I am very interested on buy gold VAT free so would appreciate the advice.

Unless i am mistaken, there is currently no VAT on gold purchase in the UK. There is VAT on silver purchase in the UK.

A VAT loophole exists if one buys silver from estonian silver trading companies.

Jayren
8th December 2014, 14:28
So is this electronic currency essentially?

EYES WIDE OPEN
9th December 2014, 11:15
I am invested in Blocknet and its associated currencies. http://theblocknet.com/

Mike Gorman
9th December 2014, 11:47
I think silver in particular offers a potential investment because it is artificially being kept low - it will gain even more value because our society
uses it for technology, it being about the best conductor of electricity (certainly one of the best) but the question is when the true value will emerge, meanwhile you can buy it for around $20
an ounce -said to raise to $250 in the near future. Bitcoin, well it takes a heck of a lot of processing grunt to mine it, a very great deal.

Paul
9th December 2014, 12:17
I think silver in particular offers a potential investment because it is artificially being kept low - it will gain even more value because our society
uses it for technology, it being about the best conductor of electricity (certainly one of the best) but the question is when the true value will emerge, meanwhile you can buy it for around $20
an ounce -said to raise to $250 in the near future. Bitcoin, well it takes a heck of a lot of processing grunt to mine it, a very great deal.
I would be cautious of expecting massive gains in the real value of silver.

Silver is becoming more of a commodity than a rare metal.

Silver stackers (those buying and stacking silver, hoping for large profits) will cite the heavy use of silver as a critical element in solar panels, medical surfaces (germ resistant), batteries, photography and other industrial uses, to the extent that the industrial use now exceeds what is mined, depleting existing stocks, as a reason to expect the price of silver to sky rocket.

However I expect that this will not cause such a dramatic increase. When money (the paper currency of the realm) is scarce, then the market price of rare, collectible or precious items increases, due to a scarcity of sellers. But at the same time, the market price of commodities bifurcates, with non-essential items becoming cheaper, due to a lack of willing and able buyers at any higher price, and essential items (food, booze, tobacco, and toilet paper <grin>) becoming more expensive, as desperate, cash-short buyers concentrate their spending on the essentials.

We are coming into a period of such scarcer money, so the above pricing shifts are to be expected (and already happening.)

Since silver has shifted from being mostly a rare metal to being mostly a commodity metal, it may be that the ratio of the price of silver to gold, which has been declining from its long term historical average of about fourteen to a more recent value of perhaps sixty will not reverse entirely, but silver will remain permanently cheaper, compared to gold.

In other words, in ancient Rome, an ounce of gold got you perhaps fourteen ounces of silver. Now an ounce of gold gets you perhaps sixty ounces of silver ... silver is four times cheaper, relative to gold. This might "never" (in the life of this present civilization) ever revert to the ancient ratio.

http://thepythoniccow.us/gold-silver-three-centuries.jpg

wishinshow
9th December 2014, 15:07
The current gold ratio is 74:1

http://goldprice.org/gold-silver-ratio.html

There is 15x more silver availbility than gold in terms of cost of extraction.

I believe that a run on silver will develop as silver becomes increasingly viewed as the poor man's gold and a ratio of 20:1 will be achieved. If this doesn't happen then one is unlikely to lose much purchasing power with respect to gold, because a ratio of above 90:1 is extremely rare. So there is very little downside at 70:1 and a lot of upside potential.