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Silver Will Be The New Bitcoin, Only A Matter Of Time

southfork

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Silver Will Be The New Bitcoin, Only A Matter Of Time - Keith Neumeyer

Neils Christensen
Tuesday November 28, 2017 13:46


Kitco News
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(Kitco News) - The future belongs to silver, according to one silver mining executive who sees prices rising more than 600% within the next three to five years.
In an interview with Kitco News on the sidelines of the Silver and Gold Summit in San Francisco, Keith Neumeyer, CEO of First Majestic Silver Corp said that he is bullish on silver because of growing industrial demand, seeing prices rally to $130 an ounce.
“To go green, to do all the things we want to do as the human race gets off oil and gas, we need a ton of silver,” he said.
Not only is demand for silver growing, but he added that supply has been dwindling for the last four years.
While, Neumeyer, see more potential for silver in the long-term, he is also significantly bullish on gold as he expects prices to eventually push to $8,000 an ounce.



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“The amount of money that is floating around the planet, the amount of debt floating around, we need to come out of this financial system with a solution,” he said. “I buy into Jim Richard’s solution where we need gold prices at a much higher levels to get governments off the hook.”
Neumeyer’s comments come as gold prices are flirting with key resistance at $1,300 an ounce and silver is struggling to push above $17 an ounce.
Although gold prices have been stuck in a narrow range since mid-October, prices are up more than 12% on the year. February gold futures last traded at $1,296.3 an ounce, down 0.20% on the day.
However, silver has lagged gold with prices up almost 6% since the start of the year. Kitco.com shows the gold-silver ratio hovering near a one-month high near 77. January silver futures last traded at $16.88 an ounce, down more than 1% on the day.
Neumeyer’s silver outlook might be shocking but he is not alone in thinking that next year could be a positive for the grey metal. Recently, two Canadian banks, TD Securities and the Bank of Montreal said that they see silver as having the most potential among the precious metals next year; both banks see a target of $20 an ounce.

By Neils Christensen
For Kitco News
 

Argentsum

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Here's a comparison of the S&P500, silver, and bitcoin over the last 5 days. As you can see when the market cratered silver took off but bitcoin deflated. This underscores the simple fact that silver is a safe haven and bitcoin is speculation.

1539484665716.png
 

gliddenralston

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#3
I've been hearing this for sooo many years, I'll probably run out of life first!
 

the_shootist

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How many Bitcoins vs the number of rolls of toilet paper can one fit in an average size safe ?

"If you don't hold it, you don't own it!!!"
-Ponce
 

anywoundedduck

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How many Bitcoins vs the number of rolls of toilet paper can one fit in an average size safe ?

"If you don't hold it, you don't own it!!!"
-Ponce
That is an eloquent way to,put it.

Bitcoin is merely a transactional database that allows for payment transfer. (Very slow and clumsily) It has been hacked on numerous occasions, with millions of dollars stolen, which makes it inferior to the average persons checking account. (Which performs the same function).
It sure as hell should not be appreciating in value when it has none. You do realize that the "clown" that made this Ponzi
Bitcoin scheme up has long cashed out, and is laughing all the way to the bank.

Hold physical gold or silver. Not bits and bites from a bitcoin transaction ledger.
 
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louky

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#8
didn't see much safe haven bid on gold at all, zero basically. only rose on trump/xi trade meeting fake news the following day.



also, further proof gold pop had little to do with safe havens. i posted it would go up 40 on Tuesday. an impulsive move would be unpredictable. gold came up short 5 bucks, so that should be bearish short term at least.

gold has a short term top due within the next 72ish hours, if correct, should see that spike to 1233 area. closing below 1188 negates it of course.



as far as bitcoin, it's purely a liquidity trade.
 
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anywoundedduck

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That is an eloquent way to,put it.

Bitcoin is merely a transactional database that allows for payment transfer. (Very slow and clumsily) It has been hacked on numerous occasions, with millions of dollars stolen, which makes it inferior to the average persons checking account. (Which performs the same function).
It sure as hell should not be appreciating in value when it has none. You do realize that the "clown" that made this Ponzi
Bitcoin scheme up has long cashed out, and is laughing all the way to the bank.

Hold physical gold or silver. Not bits and bites from a bitcoin transaction ledger.
Hey Duck?
You did say clown, right?
That's has been taken to mean CIA in "Q" speak, right?
 

ZZZZZ

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#10
If I were to take anything lasting from the article. Silver is the future and Cambone's titcoins in that red dress.
I saw her live at the metals mining conference in Vancouver last year. She is even HOTTER in person.

:blond::beer:
.
.
 

Ragnarok

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#12
Silver will survive Bitcoin.

R.
 

LocoFoco

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Once Bitcoin gets hijacked by a company like Google - it will really go mainstream. Paying with your cellphone will be a piece of cake and all the FDIC banks will use it like visa and mastercard. Bitcoin, by name may go away, but its technology will not. I heard that bitcoin tech is NSA technology from the 70s.
 

#48Fan

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#16
Have to say, Bitcoin has been mighty stable as of late. Dare I say, more stable than the stock market lately.
 

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#17
The purpose of bitcoin was to keep metals down. It worked. But for how long before people realize there is little safety in digital and paper assets.
 

edsl48

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#20
Years ago when interests rates were at 15% + dire forecasts were plentiful about how eventually the USA would not be able to pay the interest on the debt thus ending in a SHTF situation where the old 90% coinage would return as currency again. As we have seen this might have had happen already if interest rates were not taken to the lows of today. None the less in a SHTF situation I would assume the internet would crash for assorted reasons meaning to me, bitcoin would be virtually worthless. As put forth by a previous poster, "If you don't hold it you don't own it." That is why I hold my stash; security in times of peril.
Incidentally here are a couple of 100oz bars purchased in 1975 by my mother . My thoughts are she paid approximately 4.75ish per ounce at the time. (Note the tarnish acquired over the years)
 

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newmisty

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D-FENZ

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Hmmm.

Bitcoin just dumped below the all-time $6000 floor on the futures in a big way.

Silver held the Jan. '16 low and bounced a bit.

Maybe they're going separate ways now. We will see.
 

Silver Art

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#23
Hmmm.

Bitcoin just dumped below the all-time $6000 floor on the futures in a big way.

Silver held the Jan. '16 low and bounced a bit.

Maybe they're going separate ways now. We will see.

According to what I am reading there is going to be a "hard fork" in Bitcoin Cash (the fork of Bitcoin) and they are giving that as a reason for BTC and the crypto markets falling hard today.

As for silver, it is now at $14.10. 25 cents above the 2016 low.
 

D-FENZ

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According to what I am reading there is going to be a "hard fork" in Bitcoin Cash (the fork of Bitcoin) and they are giving that as a reason for BTC and the crypto markets falling hard today.

As for silver, it is now at $14.10. 25 cents above the 2016 low.
Don't know what a "hard fork" is. But it does look like it's time to stick a fork in it. Any fork.
 

Silver Art

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#25
Don't know what a "hard fork" is. But it does look like it's time to stick a fork in it. Any fork.
Hard Fork = a permanent change on the blockchain that forces users to upgrade to the new blockchain. A split occurring in the blockchain.

FWIW that hard fork occurred in Bitcoin Cash not in Bitcoin. Bitcoin Cash (BCH) was a result of a hark fork (permanent change) from Bitcoin on August 1, 2017. Bitcoin Cash split into BCH ABC and BCH SV as a result of the BCH hard fork on November 15.

As for the current price of Bitcoin, apparently investors have stuck a fork in BTC since it is continuing to go down in price. At least silver (for now) has rebounded from the 2016 low of $13.85 (currently at $14.47).
 
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