Buying gold, silver when to start?

Brace your self, the slump is coming, or it may already be here.

Looks like those 1,000+ comex refiner approvals are starting to have an impact.
After 2 years of living life like a rap music video the big retailers are in for a shock.

 

Hey were all my "silver will never drop below $20 an ounce again" sheeple be at?

Now you can just about get silver delivered for about $25 an ounce seems like no one wants any.

2 years ago people couldn't wait to pay $44 an ounce delivered.

 

Dollar cost averaging is the best way to go.
Trying to time the market is folly at best.
Buy high, sell low is the result in a lot of cases.

 

Waltons bought 500 Million of Au & Ag , hence the drop to get a better bang .WHAT DO THEY KNOW ??/

 

Large Commercial Traders Are Positioned for Higher Metals Prices - Activist Post

Reading is required

 

Silver's currently $18.64/oz, as of today. But good luck, finding any dealers that will sell it to you at that price!

One I looked at today, was listing "junk" silver, for that price. But "junk" silver should be 0.715% of the price of 99.9% silver. HARD PASS, at that price!!

 

The silver price is up $1 to a $1.50 an ouce but the price delivered has barely moved. I'm going to buy more I think.
There's a sweet sale on apex for a certain poured 5oz bar right now.
I'm thinking about picking up a dozen or 2.

 

This guy is talking way too much about "the gold market exploding". No one is holding the gold market low, if anything they are proping up the price and everything is a conspiracy as to why the gold price isn't $2,000, $6,000 or $10,000 an ounce. Well if people, financial agencies and governments kept buying gold like it was $1,200 an ounce regardless of the price and no additional supply was added to the market yeah it would be $6,000 an ounce.
The gold bugs get all bent out of shape when gold is down.
The short term trend is probably down until the Democrats can cause another mortgage meltdown. Plus the Democrats and their 87,000 irs goons have made it more difficult to sell.

 

If people realize the value of BITCOIN at a world wide level there is no way the price isn't going to the millions. Just read this story and the idea of what BTC can do for everyone in the world is insane. One day the people will wake up and BTC will be the only way to go.

In A World Of Capital Controls, Bitcoin Reigns Supreme | ZeroHedge

 

The government hates competition. So when their CBDC comes out .. will be the realm of the black marketeers and other nefarious individuals.

 

Yes that is true but it wont matter. The power will be in the hands of the people and the only way they can stop that is if the people let them. Oh yeah they will try but BTC is coming like a tsunami and there is nothing any government can do to stop it. Right now what you are seeing with the lower price is just like a real tsunami pulling out the tide before the rock and roll starts.

 

can be stopped. At least with respect to legitimate use. Ban all transactions in commerce and make the penalties so severe that only those above the law will risk accepting bribes, HODLing, transacting in it and move it off-shore to a crypto friendly district.

How many little people are going to be able to jump on a plane and head off to the Cayman, Turks and Caicos, Gibraltar or Cyprus to be able to spend it.

All it is at this point is a hedge but take down the internet and it's going to be a while before you can access it. Also hope the transfer wasn't in flight if the net goes down.

It's not a cure-all. Just another option in the basket along with gold, silver, cash, land and other barterable goods.

 

That's not exactly true. Maybe 10 years ago it was but not today and never again. You would have to turn off more than just the internet. You would have to turn off all phones, computers, electricity. That is a big task. How long do you think that would go over? Who would obey a government that did that? We have so much power in our hands that we can do anything we want and our governments have to either kill us or convince us to do it to ourselves to get us to comply.

 

How exactly are the transactions transmitted validators/nodes to be recorded in the distributed ledger? via the internet.
If side-chains sprout up to handle localized commerce and never hook back up .. well, who owns what? What is the stored value? It'll become it's own crypto and rife with problems.

Yep, is an option but like all options, it has it's limitations and faults. Not perfect but not the worst.

The "Original Bitcoin" Was This Giant Stone Money on a Tiny Pacific Island

 

The scenario you point out with side-chains could never happen with . Its just not a reasonable possibility. Why would the nodes be on the internet but not BTC? The localized transactions you are talking about happen with companies that use their own distributed network to process transactions faster, such as Lightning and OpenNode. The BTC has to be taken from one account and moved to the network before those transactions happen and then it is updated to the BTC ledger almost instantly. The BTC in a private node account may be substantial but doesn't affect the rest of the ledger, just one person. If that node gets knocked offline the BTC network ledger stays the same. Everything is just as it was left before the power went off. If those exchange platforms never come back online then it doesn't make a difference to almost everyone. If they do come back online they update the BTC ledger if needed. Your idea of the networks have more power than the BTC ledger is not realistic.

What Happens to Bitcoin if the Internet Goes Down?

It is also worth pointing out that BTC would work with mesh networking, LANs, WANs, Starlink, peer-to-peer, new technologies, and even dial-up just fine.

The only real threat to BTC is quantum computing doing a 51% attack. If Google were to use its quantum computer to do a 51% attack on the BTC network it would win. That being said the public record would show this attack and the people would have legal recourse. Also, if there were 2 quantum computers on the network it would automatically stop the 51% attack because both computers would be less than 51%.

The problem I see is with stranded BTC is what happens when people die and nobody has access to their BTC. That seems like a much more real problem. Perhaps in the future that will be something to be addressed... like BTC treasure hunting or searching for sunken Spanish Galleons.

 

will be there .. in your wallet
But without a network and nodes are you going trust someone to pay you with a USB thumbdrive that they state has 2k Satoshis on it for your Dodge Power Wagon?

without a way to validate is pretty much useless as it's a ledger otherwise it's like giving me a hamburger today that I'll pay for on Tuesday.

Additionally, if governments can make it illegal, it's just more charges to pile on in the future.

Granted, at least we have a few lawmakers that are HODLers and will put up the good fight until they are granted power and committee seats they desire.

 

When USA folks buy PM's are there taxes and any other thing ?
I take in funny monopoly money and walk away with weight of shinny !!
Thanks folks ,
Sloth

 

Well it depends on where the transaction takes place. Some states charge sales tax on the purchase, others do not.
Now when you sell it. if you make a profit (capital gain) the feds consider it a collectible and you get hit with a 28% capital gains tax as an individual. If you are a store that deals and holds an inventory of precious metals .. that's a different story, they wind up paying corporate tax rate but can deduct expenses like rent, utilities, wages, advertizing and the like.
also, if you say pay someone in precious metals for a service like removing the dead bodies from your house (ala John Wick) you need to report that barter transaction and pay your fair share to Uncle Sugar.

It's a fucked up system. Our tax code is a big gigantic pile of shit that is designed to make us all tax cheats.