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RE: Jack Dorsey wants to pay you to work on Bitcoin!

in #bitcoin5 years ago

Yep, which is also not the case. The vast majority are not anonymous and leave a major foot print. Either way though, I like bitcoin as a store of value if the code doesn't start changing. If the code starts being changed I think it looses that appeal to most store of value investors...

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It's always about choosing one or the other, can't please the whole userbase. Personally I use silver for store of value instead of Bitcoin. Back when I started it was about 1/10th of price of gold.

Do you mean 1/100th?

Nope... Silver price was actually pretty high around that time... about 60-120 EUR per sealed capsule at the time of purchase. Purity ranges from about 60% to 92.5% and weight from 6 g to 32.5 g. So around 3.69-10 EUR per gram depending on purity. Investment gold was around 100 EUR per gram back then. Now gold is around 33.66 per gram of 24 carats and silver is 0.18 EUR per gram of 92.5% purity. Rarely anything you get (here) is really pure gold as it would be too soft to handle, usually between 21.6 (90%) and 24 carats (99.9%) in Finland. Gold contains some silver, and silver contains some copper to make it easier to handle.

Yea I am just looking at charts of silver and gold prices and it doesn't look like they have been that close at all in the past 30 years or so. With silver at $15 and Gold at $1,300 the ratio is closer to 1/86th currently and I can't see anywhere where it was even close to 1/10th...

The years on the certificates are 2001-2003 on that set. I don't remember if I checked what was the purity range of the gold version back then as I only checked the price as it was sold as a monthly set where the total price of silver version with 24 vacuum sealed capsules did cost already over 1000 EUR which was quite a lot for my age back then (I was 22 years old in 2001). I also think it's not just the material that makes the price, but the work to design and press the capsule contents. It's not like they sell raw clumps of silver and gold as investment, it's usually coins and commemorates. Raw silver would react to atmospheric air pretty fast and tarnish. Some minted silver alloys actually are worth up to 1000 EUR/gram.

Interesting... good point about only being able to buy coins. And of course there is a markup there...