pull down to refresh

40 sats \ 5 replies \ @freetx 2h \ on: I sold over $10k (CAD) worth of Gold and Silver at a Pawn Shop econ
Silver is essentially a shitcoin at this point
Very true. Its funny but its performed basically like a shitcoin to gold (bleeding oz's). Throughout history mints have always minted silver/gold coins in certain value ratios (ie 10 silver coins for a gold, etc). Over the centuries it basically looks like an ETH-BTC chart:
  • Babylon 5:1
  • Rome: 10:1
  • Middle Ages: 15:1
  • US Founding 15:1
  • Post-1860 US: 25:1
  • Post 1939 US: 35:1
  • Current US Coinage: 50:1
  • Current Actual Spot Price: 77:1
write
preview
40 sats \ 4 replies \ @optimism 1h
The big difference between ETH and silver is that the latter was actually once upon a time money. So if I were silver you were now on the shitlist, together with ETH
reply
102 sats \ 1 reply \ @grayruby OP 1h
I don't think silver is as shitty as shitcoins but I thought it was a reasonable analogy.
reply
61 sats \ 0 replies \ @optimism 1h
No worries I'm just being a dick to @freetx
reply
40 sats \ 1 reply \ @freetx 1h
Yeh, I have a hundred or so oz of silver that I bought back in the day. In that time since I bought it (2006?) silver was about $12 and gold was about $700. So flash forward to today silver is now 50 (4x) and gold is $4000 (5.7x).
On the message boards at the time the big "moon talk" was "$200 silver incoming!!" - but what they never mention is that when silver hits 200, gold will be at 30k....its amazing how similar the silver/gold - eth/btc communities are.....
reply
0 sats \ 0 replies \ @grayruby OP 1h
100oz of silver is not too shabby.
reply