Should i buy BitCoins or Morgan silver dollars? | Forex Factory

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Should i buy BitCoins or Morgan silver dollars?

  • #1
  • First Post: Feb 19, 2013 3:31am Feb 19, 2013 3:31am
I'm considering what medium of currency would be best in a financial collapse. It seems to me BitCoin may be a reliable currency b/c it is self regulated by its P2P networking structure and the government hasn't banned them yet. I don't know how they could ban them. Its also is convenient to use because its virtual. I also hear BitCoin was quite useful to the Iranians when their currency lost about 50% of its value. But if the grid fails in a financial collapse, BitCoin may not survive. This is why i'm also considering silver coins. Should i just do 50/50?
The trend is my friend? The world casino is my friend!
  • #2
  • Feb 19, 2013 4:29am Feb 19, 2013 4:29am
Quoting CapR
I'm considering what medium of currency would be best in a financial collapse. It seems to me BitCoin may be a reliable currency b/c it is self regulated by its P2P networking structure and the government hasn't banned them yet. I don't know how they could ban them. Its also is convenient to use because its virtual. I also hear BitCoin was quite useful to the Iranians when their currency lost about 50% of its value. But if the grid fails in a financial collapse, BitCoin may not survive. This is why i'm also considering silver coins. Should...
You should do neither, why do you want a coin approved by the government? The situation your talking about is a grand collapse where governments will cease to exist, how do you know that your coins will be worth anything in such situations??? I ask you this because as long as governments exist, so will their currencies. They will demand their currency as tax and will also accept it as a median of exchange. And in case your not aware, governments have something called a "Fiscal Policy" where they spend those taxes along with other sources of income on the economy, and yes they use currency to do all this. Buy assets if you want to avoid currency "devaluation", such assets include; equities, real estate, precious metal bullion, oil...etc, to protect the value of your money.
  • #3
  • Feb 19, 2013 8:34pm Feb 19, 2013 8:34pm
The adage, "If you don't hold it, you don't own it" I think applies here.

Diversify - buy a few Morgans, some 1 oz, 5 oz, and 10 oz Silver Bars. And buy some of the 90% junk silver coins (pre-1964)

Hope that helps.

-Kirstin
  • #4
  • Feb 20, 2013 12:18am Feb 20, 2013 12:18am
Don't waste your money on the basis of paranoia. If the value of our money (somehow) suddenly became worthless you'd have much bigger problems to deal with, like staying alive from roving groups of looters.
  • #5
  • Feb 22, 2013 7:50pm Feb 22, 2013 7:50pm
Hard to say. I would hold bitcoin, but maybe not 30$ a coin.
"You're solid gold, see you in hell"
  • #6
  • Apr 8, 2013 2:43am Apr 8, 2013 2:43am
Hope you went all in on bitcoin. Trading around $130

CapR what did you end up doing?
  • #7
  • Apr 11, 2013 1:03am Apr 11, 2013 1:03am
In that kind of a scenario, you can hardly play by chance. I would say go by the one that is time tested.

Currently, none of the governments have raised objection regarding BitCoins but if they do, your investment can be in a big trouble. Governments love their paper empire and even if the fiat currency collapses, the government will back it by precious metals like gold and silver to run the show. That is what countries have been doing for thousands of years now.

If that happens, BitCoins become totally useless. You would be stuck with it. Alternatively, holding Morgan silver dollar coins would mean you have something that has its own value. Even if financial crises happen, silver will continue to hold value.

Of the two alternatives, Morgan silver dollar is a safer-haven.
  • #8
  • Apr 30, 2013 1:59am Apr 30, 2013 1:59am
Quoting thomasa.mart
In that kind of a scenario, you can hardly play by chance. I would say go by the one that is time tested. Currently, none of the governments have raised objection regarding BitCoins but if they do, your investment can be in a big trouble. Governments love their paper empire and even if the fiat currency collapses, the government will back it by precious metals like gold and silver to run the show. That is what countries have been doing for thousands of years now. If that happens, BitCoins become totally useless. You would be stuck with it. Alternatively,...
Exactly! I just posted up a detailed review and summary in regards to BitCoin here...
  • #9
  • Nov 22, 2013 7:32pm Nov 22, 2013 7:32pm
hahaha, all you stupid except the OP....... don't get upset, i'm as stupid as you.

OP, i hope you at least bought a few bitcoins.
  • #10
  • Nov 23, 2013 9:54am Nov 23, 2013 9:54am
Quoting charvo
hahaha, all you stupid except the OP....... don't get upset, i'm as stupid as you. OP, i hope you at least bought a few bitcoins.
Your better off gambling online on sports, or on blackjack.
  • #11
  • Nov 23, 2013 2:02pm Nov 23, 2013 2:02pm
hahaha. This is great. Whoever bumped this to top gets a gold star.

Shame on all of us for not throwing a few hundred bucks at bitcoin. It's only gone up about 10x (with no leverage)... I certainly wouldn't buy it now after the very tulip/dot.com like chart, but well done to anyone who was buying this <$100/bitcoin...

-SL
  • #12
  • Dec 4, 2013 1:36am Dec 4, 2013 1:36am
Quoting CapR
I'm considering what medium of currency would be best in a financial collapse. It seems to me BitCoin may be a reliable currency b/c it is self regulated by its P2P networking structure and the government hasn't banned them yet. I don't know how they could ban them. Its also is convenient to use because its virtual. I also hear BitCoin was quite useful to the Iranians when their currency lost about 50% of its value. But if the grid fails in a financial collapse, BitCoin may not survive. This is why i'm also considering silver coins. Should...
This is the biggest Ponzi scheme ever!
It will crash, it's inevitable
  • #13
  • Jan 29, 2014 1:43pm Jan 29, 2014 1:43pm
I currently own both silver and bitcoin.
  • #14
  • Last Post: Jan 7, 2018 9:10pm Jan 7, 2018 9:10pm
Someone just "liked" my post from 2013....

Jeezus.. if only that translated into me having BOUGHT the coins then....
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