Its important to know what Silver is and has been now as cryptocurrencies is going mainstream, and every tom, dick and jerry is jumping on the bandwagon.
It is obvious that there is a need for something different to use for trade than the current fiat banking money, and crypto is a great alternative with its limited supplies, independence from banking system and high level of security. Silver (and gold) only seem to get attention during financial destress - witch I belive is coming around the corner.
Currently there is "fast" money to be made trading in cryptocurrencies and that is probably the main reason many get attracted to it now. How long this will last who knows.
Silver is an reliable source that always has had a place as use of money (until 1964) that was the last year US made 90% silver coins (dime, quarters, half dollar and dollars). There are good reasons why the USA abandoned the gold standard and stopped using Silver in their money - you cant fake it. But you can print as much money as you like.
The supply if Silver is around 3 Billion ounces total in the world that is about 1/2 ounce pr world capita.
Silver has been in a deficit for the last + 10 years
Silver is being used (and lost) for production for industrial use as; electronics and medical.
Silver has been manipulated in the stock marked - selling more paper silver than there is physical lowering the price.
Silver to gold ratio is off by about 60% Historically the gold-to-silver price-ratio has been 1:15 now it is 1:75
Expert say that there is more gold above ground than there is silver.
Dont be surprised to see silver go bananas just like Bitcoin increase by 300-1000% within the near future.
I'm for crypto Silver - Litecoin.
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I agree for the potential. It is important to diversify in the many areas available. no one knows if and when things will happen. Investing in both crypto and PMs is my plan.
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Agree I do both myself 80% silver - 20% Crypto and belive they will work in tandem going forward - just dont think that Silver yet has gotten even close to its potential
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It's possible. Long-term, I'm bullish on silver. However, in the near-term, I don't see anything changing as far as price manipulation goes.
For now, I'm holding my silver and trading cryptos.
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its good for securing your savings but not good enough to earn money!
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AMEN !
Thanks for sharing this !
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