Pausing on Crypto-currencies, going in on Silver. by matrixdweller

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investment · @matrixdweller · Jan 29 '17 (edited)

$0.04

Pausing on Crypto-currencies, going in on Silver.

I will not be liquidating any of my Crypto holdings but I will refrain from adding to them in favor of buying Silver instead. The stock market is poised for another "black swan" event at any moment. I fear this will not be good news for Bitcoin with its low trading volume and most of that low volume still coming from China... and now some options to get in or OUT of Bitcoin on NASDAQ like GBTC . A clear inverse peg to the YUAN and a peg to the Dollar/US Stock Market has been established. I see the YUAN making an unexpected and temporary recovery against  USD. All things are relative and the YUAN may be out running the competition not the bear as precious metals outperform everything during a Stock crash.

*  http://www.nasdaq.com/symbol/gbtc/stock-chart


http://www.usagold.com/cpmforum/wp-content/uploads/SilverBars.jpg

👍 james212, nabilov, etcmike, redpalestino, mattclarke, sebastianjago, charles-d, blacktier, kyusho, crowdfundedwhale, britvr, tskeene, ubg, dailybitcoinnews, stephenkendal, steved, kenistyles, realmeandi, manosteel211, ixindamix, karamellka, silverstack, elumni, ydm6669, michaellamden68, quck, tablettenformat, drac59, juurop, tannukas6, elven, mariaa, birrulibmc, evalight, rahul.stan, topikzmonster, usb, sergey44, matrixdweller, igor1966, einestages, gasgeverij, thelightreports, funcooker, important, our, neo20, ham123, slobo, jbarnes82, j3dy, mirzarafeeqbaig, nik69
👎 iflagtrash

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@einestages · Jan 29 '17

If you don't mind my asking, when you speak of buying "silver," that's SLV you're referring to?

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@kyusho · Jan 29 '17

Cool, I did and am doing the opposite... after a whole bunch of Silver, I went into Gold for compact storage,then transitioned into Cryptos.

If the speculation of China announcing adoption of Bitcoin as part of their assets, that would be a whole bunch of folks getting in.

I love silver, it is my first choice and always has been,but dang it can get cumbersome.

👍 etcmike, matrixdweller

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@etcmike · Jan 29 '17

It is amazing how similar our strategies have been.

Right now, I am diversifying a bit with cryptos too.  I have a little more Bitcoin to accumulate then I am done.  I do enjoy SteemIt and will hang onto my STEEM Power until I need it.

After I feel I have enough BTC I plan to stack a bit more gold and silver.  Then see what happens.

Great post and great comments!

Steem on,
Mike

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@kyusho · Jan 29 '17

Good luck going forward... hey I just heard (and I put little stock in these types of audio alerts), that the reset is supposed to occur coincident with the Chinese New Year.  Fingers crossed, toes, eyes and cramping now.

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2 replies

@matrixdweller · Jan 29 '17

"The market is almost always somewhat in agreement even if it agrees it doesn't know what to think" - Someone

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@matrixdweller · Jan 29 '17

If China makes an announcement like that I think I will be set just from my SteemPower lol

👍 kyusho

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@j3dy · Jan 29 '17 (edited)

I've read something about that last year, as far as i remember they were starting to develop a blockchain crypto and full government controlled , but it wil take them some time I hope :D sure would hate to say good bye to money and start getting hacked by Chinese data miners :D 

it's going on for years :D 

And probably you can't go wrong with silver , but I'm not a trader and never have been. 

Best of luck to you :) Traders :) !
maybe check meh post [Banner saga - Freelance Contests](https://steemit.com/bannersaga/@j3dy/and-so-the-banner-has-been-raised-kickstarting-contests-and-freelancing)

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@kyusho · Jan 29 '17

I believe you are right!  And hold on it is a New Year...maybe, just maybe....

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3 replies

@screenname · Jan 30 '17

Re: Pausing on Crypto-currencies, going in on Silver.

<p>This post has been ranked within the top 80 most undervalued posts in the second half of Jan 29. We estimate that this post is undervalued by $5.51 as compared to a scenario in which every voter had an equal say.</p> 
<p>See the full rankings and details in <a href="https://steemit.com/curation/@screenname/the-daily-tribune-most-undervalued-posts-of-jan-29---part-ii">The Daily Tribune: Jan 29 - Part II</a>. You can also read about some of our methodology, data analysis and technical details in <a href="https://steemit.com/curation/@screenname/introducing-the-daily-tribune-most-undervalued-posts-of-nov-04---part-i">our initial post</a>.</p>
<p>If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.</p>

👍 matrixdweller

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@matrixdweller · Jan 30 '17

Thank you screenname

👎 iflagtrash

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