This page has been archived and commenting is disabled.

Visualizing All The Silver In The World

Tyler Durden's picture





 

The historical cumulative Gold-to-Silver production ratio is 1:10.7; the price ratio of Silver-to-Gold is currently around 1:50. Demonocracy enables us to visualize the 1.411 million tonnes of Silver that has been mined in history and compares that to the world government reserve holdings (and gold).

 

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 03/01/2013 - 23:00 | Link to Comment wee-weed up
wee-weed up's picture

Wicked Witch Blythe is melting....

Fri, 03/01/2013 - 23:08 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Calling Dr Paul Krugman, calling Dr Krugman!

Stat!  Report to the White House or you local Chase branch!

Fri, 03/01/2013 - 23:10 | Link to Comment espirit
espirit's picture

Can't visualize it all.  Lots was lost in "boating accidents"!

Fri, 03/01/2013 - 23:16 | Link to Comment THX 1178
THX 1178's picture

29665 tonnes is about 870 million Toz. Obviously all of those ETFs don't actually hold that silver... they amount to little more than naked shorts-- supression schemes. but does this number (29665) include silverware and silver STUFF in general? How many Toz are on Earth above ground is my question.

Fri, 03/01/2013 - 23:24 | Link to Comment Thomas
Thomas's picture

GFMS estimates about a billion ounces of above-ground silver bullion (available silver), consistent with this number. Because we dropped from 14 billion ounces in 1900 to a one billion today, I figure another decade pretty much ought to wipe us out. That will be a serious short squeeze. NB-You are gonna have to have possession of the physical once this squeeze takes place because it will be a shortage that drives the price, not some Wall Street nimrod.

Fri, 03/01/2013 - 23:45 | Link to Comment Midas
Midas's picture

I guess this would be as good a spot as any to ask if you guys have seen this new fun product from Northwest Territorial mint:

 

http://silverbulletbullion.com/

Sat, 03/02/2013 - 01:09 | Link to Comment SafelyGraze
SafelyGraze's picture

nice infographic

in the first line, you had me at pocketknife

Sat, 03/02/2013 - 02:14 | Link to Comment Vlad Tepid
Vlad Tepid's picture

The TSA will be at your front door momentarily.  Please do not attempt to resist.

Sat, 03/02/2013 - 02:22 | Link to Comment palmereldritch
palmereldritch's picture

God I love that chick on the sofa.

I shall call her Lana....LANA...LANNNNNAAAAAAAAA!!!

Sat, 03/02/2013 - 03:01 | Link to Comment fuu
fuu's picture

Silver bitchez!

fucking slackers

Sat, 03/02/2013 - 04:04 | Link to Comment palmereldritch
Sat, 03/02/2013 - 09:05 | Link to Comment HoofHearted
HoofHearted's picture

That last picture is a picture of my house and my back yard. If only it were true....

Sat, 03/02/2013 - 09:40 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Just got a 1947 dime in my change from Sam's Club.....hot dog! It's sitting right by my monitor.

 

It doesn't take much to make me happy.

Sat, 03/02/2013 - 12:18 | Link to Comment QE49er
QE49er's picture

Somebody throw that 777,225 Ton silver cube in the deep Pacific please (keep your hands off of my stash)...But would the $ of Silver go up finally? Not sure...

Sat, 03/02/2013 - 12:24 | Link to Comment Frozen
Frozen's picture

Hey I heard about your unfortunate boating incident.  Shame, really

Sat, 03/02/2013 - 03:06 | Link to Comment jumbo maverick
jumbo maverick's picture

I have a peep hole in my front door I can use to line up the 7.62x54 and BAM it will go thru the door, into douchebag number 1 all the way out douchebag number 1 and into douchebag number 2. Douchebag number 3 depending on where he is standing will either get hit as well or he will crap his pants.

Either way he will be in the such a disrupted state of mind that I can send a follow up shot before I have to take other actions.

Sat, 03/02/2013 - 08:21 | Link to Comment francis_sawyer
francis_sawyer's picture

You might make it all the way to Douchebag number 4 if his name happens to be John Connelly...

Sat, 03/02/2013 - 09:43 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

You should be PC and just use a shotgun like uncle Joe.

 

He's a bumbling idiot....but we love him.

Sat, 03/02/2013 - 11:08 | Link to Comment DosZap
DosZap's picture

You should be PC and just use a shotgun like uncle Joe.

The one he say's to shoot thru the door,will be banned.

So what do you use then?.

Feinsteins bill will ban all pump, and semi auto shotguns.

Double Barrel, and that's it.

Sat, 03/02/2013 - 11:22 | Link to Comment Urban Roman
Urban Roman's picture

In that case, the bullet will actually make a U turn ...

Sat, 03/02/2013 - 09:44 | Link to Comment Go Tribe
Go Tribe's picture

Pathetic. You can't even find .223s in silver. Damned government!

Sat, 03/02/2013 - 10:37 | Link to Comment Rusty_Shackleford
Rusty_Shackleford's picture

Why not get the real thing?

Check this out.

 

http://www.coonaninc.com/products.php/zombie-silver-bullets/cPath,6

Sat, 03/02/2013 - 12:42 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

You see? There is not enough gold and silver to use in commerce........at the current price! ;(|)

Sat, 03/02/2013 - 13:15 | Link to Comment Conax
Conax's picture

I don't even know if they still make them or how much they cost now, but I have a nice stack of Winchester Silvertips for me .45.  (185 grn hp)

When I picked them up (at an evil gun show) they were 11 bux-a-box o' 50.

I believe they are jacketed in a silver alloy.  (Well, they look silver)

Soon as I down a werewolf, I'll file a full report. 

Unless they're fake and he gets me.

Fri, 03/01/2013 - 23:33 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

Why isn't the price of silver going up at least as fast as the Federal Reserve Monetary Base?

Sat, 03/02/2013 - 02:30 | Link to Comment Ag Tex
Ag Tex's picture

Unlimited: naked shorts, ETFs, leased metals, paper certificates, exponential fractional reserve re-hypothication...  Lots and lots of paper and even more digitized entries.

25 billion ounces?  Hmmm.  APPL delayed product roll out due to silver shortages in the manufacturing process.  The United States Mint was temporarily sold out of 2013 American Eagle Silver Bullion coins in January. Silver will be the main dynamic to soon bring down the global money changers and their minions.

Sat, 03/02/2013 - 09:05 | Link to Comment Longtermnotreally
Longtermnotreally's picture

The silver bullet...

Sat, 03/02/2013 - 09:44 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Just throw some hot QE cash on that fire.....it's totally free.

Sat, 03/02/2013 - 17:37 | Link to Comment WhiteNight123129
WhiteNight123129's picture

A piece on the December 5th 1935 nationalization of Silver in 1935, on China currency reform and United States wrecking the Chinese economy through Silver manipulation. I guess the tables have turned!!!

http://gentlemaneconomics.wordpress.com/2013/03/02/the-exchange-rate-of-...

Sat, 03/02/2013 - 07:54 | Link to Comment enloe creek
enloe creek's picture

some dumbass thinks equities are the place to make money. momentum play I guess. PM etf are net sellers too.  but in a market with fewer buyers the price is volitile.  what few buyers there are must be very long term value buyers. I hpe they have enogh funds to carry the price above support.

Sat, 03/02/2013 - 08:38 | Link to Comment new game
new game's picture

hedge

cash is chasing best returns

PM is anti-money so as to be by the likes of CB, tres, regulators, WB, the club, ect.

we be fighting the ptb and there club

they have the power of regulators in pocket.

what is real is the outcome

then the value will be determined by real mkt forces

in the mean time xtreme patience....

its a psyc opps to purge weak the links out.

steadfast with the knowledge...

 

 

Fri, 03/01/2013 - 23:36 | Link to Comment Thomas
Thomas's picture

And the numbers show 44 billion ounces mined in total. We've saved nothing. Where have I heard that before?

Sat, 03/02/2013 - 02:08 | Link to Comment THX 1178
THX 1178's picture

Where?

Sat, 03/02/2013 - 11:25 | Link to Comment Jayacts
Jayacts's picture

Sprott says it's around a billion ounces.

 

If one guy, or multiple parties, drop 32 B (on the real thing) it's all gone!

 

It's a small, small market.

Sat, 03/02/2013 - 11:25 | Link to Comment Jayacts
Jayacts's picture

Sprott says it's around a billion ounces.

 

If one guy, or multiple parties, drop 32 B (on the real thing) it's all gone!

 

It's a small, small market.

Fri, 03/01/2013 - 23:25 | Link to Comment Crash Overide
Crash Overide's picture

THX, you might be on to something there...  lol

Fri, 03/01/2013 - 23:29 | Link to Comment Crash Overide
Crash Overide's picture

Does anyone have a picture of paper silver stacked next to real silver?  That might be fun to look at?

Is it stating the obvious that Jamie Dimon knows what that looks like...?

Fri, 03/01/2013 - 23:28 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

I'd rather visualize these tits than bullion bars...

...more fun to play with, and easy to recognize fakes.

Ladies get 20 and feel the pleasure of fondling your own tube.

Fri, 03/01/2013 - 23:28 | Link to Comment espirit
espirit's picture

Can't think of anything better than PM's with tits, unless maybe it's Orly's frozen chicken breasts.

Sat, 03/02/2013 - 02:22 | Link to Comment glenlloyd
glenlloyd's picture

Orly's frozen chicken breasts....now with 10% horse meat!

Sat, 03/02/2013 - 09:19 | Link to Comment francis_sawyer
francis_sawyer's picture

Chick-Fil-A new slogan... 'EAT MOAR HORSE'

Sat, 03/02/2013 - 14:00 | Link to Comment akak
akak's picture

And magically, available at the exact same price since 1988!

That's because, as JimmyJames so carefully explained to us, constant inflation-adjusted prices prove that there is no inflation!

http://www.zerohedge.com/news/2013-02-28/you-rarely-know-youre-recession...

(I'm sorry, I STILL can't stop laughing at that one!  That was the most comically idiotic thing I have EVER read in any comment on ZeroHedge!)

Sat, 03/02/2013 - 18:25 | Link to Comment MisterMousePotato
MisterMousePotato's picture

Yeah. I was following your conversation with JJ. That was really, really weird. Not sure if it was an example of sophistry or someone whose IQ outstripped his intelligence or what. Just too weird to be dismissed as stupid.

Sun, 03/03/2013 - 19:58 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Makes AnAnonymous appear sagacious in comparison.

Sat, 03/02/2013 - 16:23 | Link to Comment IrritableBowels
IrritableBowels's picture

How about PM's with tits on one side, and on the other an eagle devouring a squirming snake? If that doesn't get you off, then try the new Libertads- they have seven pictured ways an eagle can eat a snake. (sorry, no seven pairs of tits)

Fri, 03/01/2013 - 23:31 | Link to Comment walcott
walcott's picture

nice tits.

Sat, 03/02/2013 - 05:42 | Link to Comment samcontrol
samcontrol's picture

not really, way to small.

Sat, 03/02/2013 - 09:46 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

You're just not creative enough.

Fri, 03/01/2013 - 23:33 | Link to Comment Intoxicologist
Intoxicologist's picture

Libertads are my favorite coin.  They're beautiful!

Fri, 03/01/2013 - 23:46 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

Unlike Eagles, they were NEVER the currency or property of the USA,

plus they are recognized on both sides of the Rio Grande,

and low premiums, too!  

Fri, 03/01/2013 - 23:49 | Link to Comment Intoxicologist
Intoxicologist's picture

I own exactly one Eagle.  The "property of the USA" thing always bothered me, so I expanded my horizons.

Sat, 03/02/2013 - 02:50 | Link to Comment NidStyles
NidStyles's picture

I have Canadian Maples, because four 9's and I think they are goegeous. I will never step foot in Canada so I am not worried about them confiscating.

Sat, 03/02/2013 - 04:54 | Link to Comment Tango in the Blight
Tango in the Blight's picture

Just don't turn them over, there's Silver Liz staring at you.

Sat, 03/02/2013 - 00:03 | Link to Comment czarangelus
czarangelus's picture

You'll laugh, but my love for this metal borders on religious. I sometimes find myself equating the return of silver money with the return of the goddess. I mean, you often see Greek and Egyptian goddess iconography on precious metal coins, or Mary of the whole Jesus fame. The way silver is incorporated into our collective mythology just shows how strong of a hold it has on the psychology of human beings. Silver is used to kill vampires, werewolves, and other unholy creatures. Silver is a representation of the basic feminine force in alchemy. Silver is the Moon.

 

And to think we live in an age where its shining force might actually dispell a miasma of fiat and darkness that has occluded the eyes of human beings for centuries. It's an amazing time.

Sat, 03/02/2013 - 01:02 | Link to Comment Bolweevil
Bolweevil's picture

Yep, thats wierd.

Sat, 03/02/2013 - 09:47 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Not that there's anything wrong with that.

Sat, 03/02/2013 - 18:27 | Link to Comment MisterMousePotato
MisterMousePotato's picture

Remember The Keep (John Carpenter)? At the time, I thought the soldiers' reaction to their discovery of a silver cross was a bit over the top.

Sat, 03/02/2013 - 01:57 | Link to Comment sgorem
sgorem's picture

"Silver is used to kill vampires, werewolves, and other unholy creatures." like Central banks, TBTF's, and fake fiat governments too, I hope...........................

Sat, 03/02/2013 - 08:35 | Link to Comment francis_sawyer
francis_sawyer's picture

Squids?... Please tell me it kills squids...

Sat, 03/02/2013 - 09:10 | Link to Comment Longtermnotreally
Longtermnotreally's picture

In ancient Egypt silver was worth as much as gold...

Sat, 03/02/2013 - 10:43 | Link to Comment grid-b-gone
grid-b-gone's picture

What you write of so longingly is the latent honesty, beauty, and fairness that a truely scarce, divisible, fungible, portable, and durable medium of exchange evokes.

It probably can kill vampires and giant squids, even in this age of the electronically and politically shrewd. You have perfectly summed the core, anti-central bank mantra to, "dispel a miasma of fiat and darkness that has occluded the eyes of human beings for centuries."

PMs in common man lots are likely to be recovered for many future decades like the undetonated shells and hidden works of art of long-ago wars. 

Since the first laborer received the first denarius, he was only looking for a way to convert his life's force in a way that covered his family's needs. At the same time, the issuer began to devise ways to cheapen that original honest exchange. That pendulum still swings today, and is about to change direction.

Sat, 03/02/2013 - 12:20 | Link to Comment SAT 800
SAT 800's picture

The return of Silver Money? I must have missed the part where it wasn't money. When I got out of High School in 1960, I could buy a gallon of gasolene with one of the american quarters in the back pocket of my Levi's. Right now, today, I can go across the hiway, here in Hawaii, and buy a gallon of gas with the same 1960 quarter; I've already done it, just for giggles. The nice lady there doesn't actually know anything, but she kinda feels that everything might not be on the up and up, (people can feel it); and she wants the quarters for her little boy; "so he'll have something that's worth something when he's 18". Every once in awhile she asks me if I have any more of those quarters; I always tell her; "not yet".

Sat, 03/02/2013 - 05:08 | Link to Comment The Navigator
The Navigator's picture

About a year ago I picked up 20 Onzas from my local coin shop for $0.50 or $1. over spot - nobody understood them and the shop was clearing them out - either way, I got some 'different type' of silver and they're beauts - I just prey I don't lose them in my next boating accident, been so many lately.

Sat, 03/02/2013 - 05:27 | Link to Comment Buck Johnson
Buck Johnson's picture

Silver will be the new gold.

Sat, 03/02/2013 - 06:06 | Link to Comment Lets Buy The Dip
Lets Buy The Dip's picture

I love the info graphic, and I think right now everyone thinks silver is about to crash, I think that is a time to get bullish on silver and gold......I am sure the elite are stocking up on gold and silver like no ones business. 

The guy over at SENTIMENT TRADER BLOG HERE  has some really cool chart porn on gold and silver at the moment, His market calls are flipping amazing, and he does not think gold and silver are about to chit the bedpan, infact the total opposite. Go check it out.

Those dofuses on cnbc tell you do one thing, I think you should do the exact opposite....easy way to make money. :p

Myself, I think now to 2014 is a good time to stock up on the physical, and me and my buddy have found a supplier, and even thinking of selling the stuff on ebay maybe.  

Sat, 03/02/2013 - 12:27 | Link to Comment RealeyesRealize
RealeyesRealize's picture

Cool stuff thanks for posting that.

Fri, 03/01/2013 - 22:59 | Link to Comment johnlaw1971
johnlaw1971's picture

Silver vs Bitcoin. What are your predictions for 6m, 12m, 5 years and 10 years from now?

Fri, 03/01/2013 - 23:05 | Link to Comment otto skorzeny
otto skorzeny's picture

bitchcoin-NWO bankers wet dream-one completely digital,trackable,capital controllable,instantly taxable currency to rule them all. cue CH1 vitrol

Fri, 03/01/2013 - 23:11 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

Yes, but, I´d prefer gold.

EDIT:

Looks like we´re going to have hundreds of comments tonight...

Fri, 03/01/2013 - 23:17 | Link to Comment Haole
Haole's picture

How is a finite, deflationary currency an "NWO bankers'" wet dream?

How is it trackable without knowing users' passphrases?

Fri, 03/01/2013 - 23:22 | Link to Comment otto skorzeny
otto skorzeny's picture

explain please. do you think the govt could not simply stop any electronic transaction/account with a few taps on a keyboard-if you can't stand over it with a rifle you don't own it

Fri, 03/01/2013 - 23:30 | Link to Comment Haole
Haole's picture

So in other words you can't answer the questions and had little to no idea what you were talking about in the first place. Nice one...

Fri, 03/01/2013 - 23:36 | Link to Comment otto skorzeny
otto skorzeny's picture

What part of anything that is done electronically can be monitored and stopped at any point by the government don't you understand? do you think they need some stupid password to get ahold of any account. just like when they decide your 401k has to hold a certain percentage in USTs- they sure aren't going to ask nicely-you'll just wake up some morning and look at your account online and it will already be done.

Sat, 03/02/2013 - 00:00 | Link to Comment Haole
Haole's picture

So again, in other words, you can't answer the questions.

One's "account" is not exclusively "online" unless one doesn't care about losing what they have. Using a web-based wallet or keeping one's Bitcoin online exclusively with an exchange is reckless. Not as bad as buying GLD for the gold but naive.

The government can stop anything it wants, anytime, including you and me if they want. So what, they haven't.

If they turn off the internet we'll have bigger problems than not being able to transact with some Bitcoins.

Sat, 03/02/2013 - 00:05 | Link to Comment Shell Game
Shell Game's picture

Haole, do BCs have to be transacted over the internet, or is there an P2P app? just curious..

Sat, 03/02/2013 - 00:20 | Link to Comment Haole
Haole's picture

One doesn't need the internet to transact necessarily but one does need access to the blockchain to complete it/them. One can make a transaction with a smartphone and a QR code.

I don't post with the intent of educating anyone as I'm still learning, I'm offended by overt BS which is the only reason I post in the first place. Respectfully, there's a big internet still out there with lots of answers.

Sat, 03/02/2013 - 00:28 | Link to Comment Shell Game
Shell Game's picture

Thank you, and do spend much time studying. Lots and lots of time. Thought I'd toss out an honest query in contrast to the loads of 'other' material BC advocates get.  ;)  Peace.

Sat, 03/02/2013 - 00:36 | Link to Comment Money Squid
Money Squid's picture

No blockchain access no worky?

Sat, 03/02/2013 - 01:06 | Link to Comment Bolweevil
Bolweevil's picture

I welcome this dangerous and mystical future you speak of where there is no internet. I will call it, The 70's.

Sat, 03/02/2013 - 00:09 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

Bitcoin?

Do they accept it at the Co-op?  

Can I pay my taxes with it down at the county courthouse?  

Can I use it to buy stocks on margin?

Does it work for bail in Mexico, Texas, Macau, or France?

Will any casinos let me buy chips with it?

Sat, 03/02/2013 - 00:11 | Link to Comment Shell Game
Shell Game's picture

"Can I use it to buy stocks on margin?

Does it work for bail in Mexico, Texas, Macau, or France?

Will any casinos let me buy chips with it?"

 

hmmm, you've got some fiat-devil in you I didn't know you had..  ;)

Sat, 03/02/2013 - 00:18 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

Bail is one of the very rare instances where we trade our fiat currency for our freedom, rather than the other way around.

There may be an arbitrage opportunity somewhere here...short bondsmen?

Sat, 03/02/2013 - 00:22 | Link to Comment Shell Game
Shell Game's picture

Well, good point in normal times, but don't you know there is no bail for terrorists?

Sat, 03/02/2013 - 00:18 | Link to Comment Yen Cross
Yen Cross's picture

 Why do fraudsters always go " shrinky dink?"

Sat, 03/02/2013 - 01:25 | Link to Comment Crash Overide
Crash Overide's picture

Greed

Sat, 03/02/2013 - 00:25 | Link to Comment Haole
Haole's picture

"Do they accept it at the Co-op?

Can I pay my taxes with it down at the county courthouse?

Can I use it to buy stocks on margin?

Does it work for bail in Mexico, Texas, Macau, or France?

Will any casinos let me buy chips with it?"

Yeah, one can't just convert Bitcoin to any currency one wants and use it for any of those purposes... /sarc

Sat, 03/02/2013 - 00:29 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

Yeah, it's not like you can just convert Bitcoin anything of value to any currency you want and use it for any of those purposes...with a transaction cost.

Sat, 03/02/2013 - 00:31 | Link to Comment Haole
Haole's picture

So what's your point?

Sat, 03/02/2013 - 00:33 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

That you didn't really make one, and that I don't need the /sarc

Sat, 03/02/2013 - 00:40 | Link to Comment Haole
Haole's picture

The point was that Bitcoin can be exchanged for cash that you can use to lose at a casino if you want. Exchange currency for a trip you pay a fee. Pay by credit card in a foreign country and pay a fee. Get a bank draft for a large purchase and pay a fee. Buy gold or silver and pay a premium. Because one pays a fee to convert Bitcoin it has to be scrutinized? You really have to be fucking kidding.

That's the point that you willingly fail to recognize despite sarcasm apparently.

Holy fuck...

Sat, 03/02/2013 - 12:41 | Link to Comment CunnyFunt
CunnyFunt's picture

In the course of your studies, have you determined whether or not BTC is EMP- and HERF-proof?

Sat, 03/02/2013 - 13:24 | Link to Comment Pseudo Anonym
Pseudo Anonym's picture

nothing is fail proof.  is your leaving money in your account with the banksters safe from theft?  i mean, everything has it's pros and cons, nothing is perfect; it's an individual choice and risk taking/aversion is just one part of the decision making.  each individual makes their choices and either benefits or fails.  we should not force our bias on others.  each is responsible for their own due diligence

Sat, 03/02/2013 - 23:09 | Link to Comment Haole
Haole's picture

All of the people who are so dead against Bitcoin for some reason evidently and absolutely, miserably fail to acknowledge anywhere that nothing is 100% safe and the "government" can do whatever it wants with anything. Scrutinizing Bitcoin because it's use is susceptible to a massive EMP or like disaster is not only lame and ridiculous but desperately reaching for a reason to slag it. Pathetic.

If you don't think most people who hold some bitcoin would have much more pressing concerns than possibly losing or not being able to transact given an EMP event that takes down everything you are just making yourself look silly.

Unbelievable the reasons people come-up with to mess around with some Bitcoin, on ZH of all places. "Un-fucking-believable" - Gordon Ramsay

Sat, 03/02/2013 - 05:47 | Link to Comment samcontrol
samcontrol's picture

i,m quite sure you could use it for bail, except France maybe..

Sat, 03/02/2013 - 07:50 | Link to Comment unrulian
unrulian's picture

Can i buy hookers and blow?

Sat, 03/02/2013 - 08:40 | Link to Comment francis_sawyer
francis_sawyer's picture

Of course you can... The whole idea launched so you could buy them conveniently online...

Sat, 03/02/2013 - 02:11 | Link to Comment joego1
joego1's picture

They will just drone all the servers with your bitcoin and presto changeo no more bitcoin. Problem solved.

Sat, 03/02/2013 - 05:10 | Link to Comment Tango in the Blight
Tango in the Blight's picture

There are no Bitcoin servers. Every client has a copy of the entire blockchain (in which all transactions are stored). Of course one could use a service like blockchain.info where the blockchain is pulled from the internet (it is a rather big file and it takes some time to download) but that's not necessary. To destroy Bitcoin you'd have to destroy all Bitcoin clients. Takes a lot of droning.

Sat, 03/02/2013 - 11:11 | Link to Comment francis_sawyer
francis_sawyer's picture

cut the snake off at the head...

~~~

The fucking Tesla Coil was designed to be [in an analagous way], 'open source'... But I look around & don't see too many Tesla Coils... Wonder why...

That's the problem with all you BITCOIN geeks... You're so in love with the 'technology' [& your own arrogance because you think you're closer to the 'secret of the universe' ~ you think you can WIN EVERY ARGMENT because you can go all 'apeshit tekkie' on someone, & that's your 're-route' to every argument]... You don't see the big picture of what happens when HUMANS interface with HUMANS..."

You're too enamoured with HUMANS interfacing with COMPUTERS, or worse, COMPUTERS interfacing with COMPUTERS...

~~~

The next tekkie geek that wants to stand up & get a pie in the face will surely ask "CUT THE SNAKE OFF AT THE HEAD?... HOW DO YOU SUPPOSE TO DO THAT? [thinking of themselves as technologically superior to all the rest]"... The answer is... "I don't fucking know" [because I'm not tech geek]... But you can be sure, that when TPTB get around to it, that's the PLAYBOOK that they'll use... It's like a Hegelian dialectic... You don't have to be a technical wizard to follow the script... Why?... Because in the end [as mentioned above], the 'human to human' element has to enter into the equation... Money [notwithstanding fiat, bitcoins, gold, silver, tally sticks, tulips, puka shells, beanie babies, pokemon cards, Star Wars Republic Dactaries, Imperial Credits, or Waterworld chits], is based on FAITH... It has been proven throughout history that it is QUITE EASY to corral people into "faith based" categories [which is why the concept of RELIGION has been so successful]... All it takes, mostly, is properly focused PROPAGANDA [combined with a little muscle], to alter human behavior...

The fact that bitcoins haven't been pounded down already ought to be proof enough that nodody important takes it seriously yet... Who knows... Maybe someday they will... Listening to bitcoiners get all lathered up about the 'PHATNESS' of their digital wallets reminds me of the NASDAQ bubble in the 90's... "Hey man ~ I bought one share of JDS Uniphase at $2.00, now it's $300... I'm a PLAYA!"...

To Pluto [and beyond] bitchez!... Fuck ~ Pluto ain't even a planet anymore...

Sat, 03/02/2013 - 12:15 | Link to Comment StychoKiller
StychoKiller's picture

Re:  Tesla coils, do you have any idea how much voltage a Tesla coil generates?  Them what does, are the only folks that feel qualified enough to make one; you on the other hand...

Sat, 03/02/2013 - 12:23 | Link to Comment francis_sawyer
francis_sawyer's picture

 "a Tesla coil generates?"

~~~

I suppose you're referring to that one, singular, Tesla coil... The only one that ever did exist, or will ever exist... [rolls eyes]

Folks ~ this is where the conversation inevitably gravitates when "geek-a-zoids" enter the fray... I'm becoming convinced that all the DARK MATTER in the universe is comprised of geek-a-zoids who have a gravitational field stronger than anything KNOWN in the universe...

Sat, 03/02/2013 - 03:10 | Link to Comment NidStyles
NidStyles's picture

If you are using Bitcoin, your account is online, that also means your computer is likely online. All hardware has been legally required to have a physical backdoor into it since 2006.

Sat, 03/02/2013 - 10:50 | Link to Comment Disenchanted
Disenchanted's picture

I knew there was a good reason I'm still on this over a decade old PC...

Sat, 03/02/2013 - 12:16 | Link to Comment StychoKiller
StychoKiller's picture

You know whereof you speak.

Sun, 03/03/2013 - 06:01 | Link to Comment stacking12321
stacking12321's picture

"All hardware has been legally required to have a physical backdoor into it since 2006."

what are you talking about?

i own a hammer, it is a piece of hardware.

it does not have a backdoor, nor is it required to.

 

Sat, 03/02/2013 - 09:01 | Link to Comment q99x2
q99x2's picture

You can print them out and carry them with you if you'd prefer. Or put them on a memory stick. Unlike physical there are many more options with bitcoin. And, you can create rather instantly a local community currency in times of need. The flexibility and portability is what makes bitcoin far superior to physical metals. Of course you might be able to sell gold and silver as jewelry or trade it in to a company that might need it for manufacturing purposes. 

Sat, 03/02/2013 - 01:06 | Link to Comment Common_Cents22
Common_Cents22's picture

how do you know the founder doesnt have a back door to manipulate the digital currency?

how do you know the various distributed servers that hold the ledgers cannot be involved in collusion much like central banks?

who controls the total number of bitcoins and the issuance?

how do you know there are only that many bitcoins they say are in existence?

 

thanks.

Sat, 03/02/2013 - 05:17 | Link to Comment Tango in the Blight
Tango in the Blight's picture

The software is open source so it's workings can be checked by anyone with the required programming skills. Of course gold and silver are more safe but you can't use it as a means of payment on the internet. Bitcoin is the only way to transfer money online which isn't under the control of the banks. If you receive Bitcoins you can of course buy gold for it just like you can do with fiat. It isn't meant to compete with gold as a store of wealth.

Sat, 03/02/2013 - 12:02 | Link to Comment Urban Roman
Urban Roman's picture

 

 

  1. Because open source.
  2. They are. They collude to track BTC. (except no servers, it's all P2P)
  3. Mathematics. 
  4. See (3).

 

Sat, 03/02/2013 - 12:17 | Link to Comment StychoKiller
StychoKiller's picture

The source code is open, analyze it yerself, ya paranoid...(whatever)

How did my comment end up here?

Sat, 03/02/2013 - 07:30 | Link to Comment Catullus
Catullus's picture

Not only do you not know how Bitcoins work.  You don't know how a gold/silver standard works.

A bitcoin is just a ledger transaction that everyone can see.  They don't know who is transacting, they just know that it occurred.  In order for your transaction to clear it has to be logged.  A peer-to-peer transaction can be logged.  But because the log is constantly updated and stored all over the world, there's no way the government can just tap a keystrokes and eliminate the log.  It exists all over the world simultaneously. 

A gold standard would effectively work through mostly ledger transactions as well.  People would figure out almost immediately that it's a pain in the ass to exchange physical gold to clear transactions.  They would go to trusted clearinghouses who build up their reputations over time for any number of things that consumers want.  I would think they'd revolve around security, anonymity, availability of the network, convenience. Not necessarily in that order. 

Sat, 03/02/2013 - 00:54 | Link to Comment Haole
Haole's picture

Easier just to click a red icon than to answer the questions. Pathetic.

Cowardess and ignorance are tremendous bedfellows...

Sat, 03/02/2013 - 03:06 | Link to Comment Vlad Tepid
Vlad Tepid's picture

Who's cowardess?  She sounds saucy.

Sat, 03/02/2013 - 03:12 | Link to Comment NidStyles
NidStyles's picture

No, you are just slow on the uptake. Bitcoin is filled with issues and you are only holding up the good sides of it.

Sat, 03/02/2013 - 23:13 | Link to Comment Haole
Haole's picture

I never claimed Bitcoin wasn't without risk or infallibility and have said on more than one occasion that it could have it's plug pulled by the government anytime they want, etc., etc., etc. Our entire lives are filled with issues and risks.

What isn't "filled with issues" these days!?

I'm not trying to hold anything up but trying to be constructive and counter some pretty funny shit and paranoia.

ZeroHedge comments section used to be a place of open minds and educated, rational discussion. It's utterly amazing that people can get so jumped-on for simply being involved in Bitcoin to any extent. This whole place has been subverted somehow and is just a mire of doomsday scenarios, paranoia and skipping records.

Speaking of that, in the middle of a pretty good book by Matt Ridley called The Rational Optimist. I'm sure people will find some reason to say it's shit too but just trying to be constructive.

Sat, 03/02/2013 - 02:29 | Link to Comment dwayne elizando
dwayne elizando's picture

If I were to look for a hedge outside of PM's it would be prescription pills. If we're headed toward a similar scenario to Greece then pills are the alternative money to own. The prescription in Greece also seem to be deflationary. The whole process by which bitcoins were created could be paralelled and then everybody could start their own digital currency. Bitcoin is for speculation. Pills are a far Better hedge.

Sat, 03/02/2013 - 04:39 | Link to Comment The Navigator
The Navigator's picture

prescription pills are a good hedge in a SHTF or EOTWAWKI scenario - problem is shelf life and that's where PMs work better; PMs work in SHTF or EOTWAWKI scenarios, inflationary scenarios, currency failure scenarios, sometimes in investment scenarios, EMP takes out electronics/computing scenarios (making BC useless).

There's a lot of items that work well in SHTF plans but prescription pills and rotating that stock until the SHTF can be expensive and there are other things that have a greater shelf life that will trade just as well or better - i.e.: 16 lbs of pool shock that will make 10's of thousands of gallons of chlorine to clean up millions of gallons of water for drinking... sanitary pads that will have every woman knocking at your door 30 days after the SHTF (and they double as puncture wound absorbants)... .22LR ammo or any other popular calibar rounds...

Another way to hedge against loss of prescription pills is to know the herbal 'fix' - i.e. hawthorne berries/bark for high blood pressure problems - and to either know where that tree is growing or plant 1-2 yourself.

Semper Peratus.

Sat, 03/02/2013 - 05:24 | Link to Comment object_orient
object_orient's picture

The world will always need drug dealers

Sat, 03/02/2013 - 12:26 | Link to Comment Five8Charlie
Five8Charlie's picture

The world will always need brewers and distillers....

Not as speculative as pills, but easier to control the entire production chain.

Fri, 03/01/2013 - 23:20 | Link to Comment stacking12321
stacking12321's picture

blurt out ignorant replies much?

or just felt like trolling?

Fri, 03/01/2013 - 23:25 | Link to Comment otto skorzeny
otto skorzeny's picture

I stand by what I said-feel free to refute what I said Mr Eloquent

Sat, 03/02/2013 - 05:00 | Link to Comment Tango in the Blight
Tango in the Blight's picture

Better do some research into it. It's the only untrackable digital currency which is true peer to peer without central bank oversight. That's why the feds hate it as much as the phyzz metals.

Mon, 03/04/2013 - 09:25 | Link to Comment Orange Pekoe
Orange Pekoe's picture

Bitcoin haters. Bullish for Bitcoins.

Sat, 03/02/2013 - 11:44 | Link to Comment Urban Roman
Urban Roman's picture

Predictions are difficult. Especially about the future. 

Silver BTC

  1. 6m:  $50 $100
  2. 12m: $120 $500
  3. 5y: $100 - (Bicoin declared illegal)
  4. 10y: - _ (Silver priced in silver, and nobody has a computer any more)
Sat, 03/02/2013 - 12:25 | Link to Comment SAT 800
SAT 800's picture

I tell you what; I'll hang on to my silver US Quarters that'll buy me a gallon of gas or a pound of bacon; and you can have the bitcoins; ok?

Sun, 03/03/2013 - 06:18 | Link to Comment stacking12321
stacking12321's picture

look, for someone with SAT 800, this shouldn't be that hard to grasp:

yes, keep your silver, it's a great vehicle for storing wealth.

bitcoin isn't for storing wealth, it's a payment gateway that's not centrally controlled, and allows you to move your wealth across borders without interference.

yes, some people try to speculate on the future value of bitcoin, but that's not its real value.

summary: hold tangible assets, use bitcoin when it happens to be a useful tool.

Fri, 03/01/2013 - 23:02 | Link to Comment Manthong
Manthong's picture

You could see my little green boxes in the picture if the graphics artist put them next to the garage door.

 

Fri, 03/01/2013 - 23:06 | Link to Comment ABG LINE
ABG LINE's picture

BTFD.

Fri, 03/01/2013 - 23:08 | Link to Comment reader2010
reader2010's picture

But you still can't eat it, can you?

Fri, 03/01/2013 - 23:22 | Link to Comment Crash Overide
Crash Overide's picture

Ah, the old silver vs. food gag... something about trading silver for food until you are starving and then what?  right?

I heard the amount of gold mined throughout known history is a lot more than what is officially reported, am I getting into conspiracies now?

Anyone heard anything like that?

Sat, 03/02/2013 - 05:51 | Link to Comment samcontrol
samcontrol's picture

people have no clue how much gold disappeared in the 40's .

Sat, 03/02/2013 - 12:39 | Link to Comment francis_sawyer
francis_sawyer's picture

99.999999% of all the food produced in world history has been consumed... That's why it's getting so expensive...

~~~

If y'all are bored ~ I can go about making dipshit [parallel logic circuit thesis] arguments on just about any subject until everyone goes fucking blind... CNBC ought to hire me as a shill.. I could singlehandedly keep J6P in the market until DOW 36,000 based on bullshit I can create in a nanosecond off the top of my dome...

Freestyler bitchez!

http://www.youtube.com/watch?v=ymNFyxvIdaM

Sat, 03/02/2013 - 08:18 | Link to Comment Tango in the Blight
Tango in the Blight's picture

I have both food and silver. Some extra cans for bartering too. The silver will be spent the last.

Fri, 03/01/2013 - 23:08 | Link to Comment otto skorzeny
otto skorzeny's picture

cool swiss army knife. is that chewbacca sitting on that couch of fiat waiting for O to get back from "hanging out" with reggie love?

Fri, 03/01/2013 - 23:25 | Link to Comment tnquake
tnquake's picture

No, she's planning her next vacation...

Let them eat cake I say!!

Sat, 03/02/2013 - 08:52 | Link to Comment francis_sawyer
francis_sawyer's picture

She's checking out the seat cushions because she's thinking about using it on the set of her new talkshow...

Fri, 03/01/2013 - 23:35 | Link to Comment Midas
Midas's picture

I know it isn't the first wookie by the wig.

Sat, 03/02/2013 - 00:58 | Link to Comment Intoxicologist
Intoxicologist's picture

No, its 100 tonnes of Oprah that got mixed up in the silver graphic.

Fri, 03/01/2013 - 23:09 | Link to Comment deerhunter
deerhunter's picture

Is 3.50 over spot a good price for 2013 silver eagles? I don't know!

Fri, 03/01/2013 - 23:11 | Link to Comment otto skorzeny
otto skorzeny's picture

are you serious? the dealers around me are asking at least $4 to $5 over

Fri, 03/01/2013 - 23:17 | Link to Comment espirit
espirit's picture

If you can really get it.  Should the spot price drop, and you can't find any, how much is it worth?

Trick question for those pesky trolls.

Fri, 03/01/2013 - 23:56 | Link to Comment Shell Game
Shell Game's picture

$3.50 is the premium I paid last weekend here north of Seattle. You won't do a lot better than that.

 

[cue trolling from Midas for answering a fucking question...]

Sat, 03/02/2013 - 08:54 | Link to Comment francis_sawyer
francis_sawyer's picture

$3.50 is the premium where I go...

Sat, 03/02/2013 - 00:17 | Link to Comment Lordflin
Lordflin's picture

You can get Eagles from Gainsville Coins down in Florida for 2.99 over spot if you purchase monster boxes of 500 ounces. I have dealt with them for years... They are normally prompt, a couple of weeks, but I did wait two months for one delivery.

So far as the... you can't eat silver... argument... Food, then guns, then pms... When the smoke finally clears there will be little in the way of money, but lots of things to buy...

Sat, 03/02/2013 - 00:38 | Link to Comment Agstacker
Sat, 03/02/2013 - 08:54 | Link to Comment Moe Howard
Moe Howard's picture

$2.59 over spot for 500 ASEs @ Provident metals. You are being suckered by Gainsville, bro.

Thursday they had a 24 hour sale same price ANY QUANTITY.

Gainsville is for TV watchers.

Sat, 03/02/2013 - 10:55 | Link to Comment Lordflin
Lordflin's picture

Well... I don't have a television signal into the home, but I welcome the tip anyway... I am always glad to pay less.

Sat, 03/02/2013 - 11:05 | Link to Comment DosZap
DosZap's picture

Is 3.50 over spot a good price for 2013 silver eagles? I don't know!

NO, 2.50-2.75

Sat, 03/02/2013 - 11:14 | Link to Comment SilverIsKing
SilverIsKing's picture

Tulving $2.59 for monster box.

Sat, 03/02/2013 - 13:43 | Link to Comment Pseudo Anonym
Pseudo Anonym's picture

to your q:

Is 3.50 over spot a good price for 2013 silver eagles?

that's fair price.  typically, i find the premium on single silver coins is on average 10%.  that's reasonable margin for a dealer, 9-11%

Do NOT follow this link or you will be banned from the site!