Just Broke the 250 Ounce barrier! :)

[Shamatti]

I was just updating my spreadsheet with latest purchases. Seems those Libertads took me back over the 250th Ounce mark again. 257.5 to be precise! :D It will be a few years before I am back at my previous total, but well on the way and happy with progress so far!

[HighlandTiger]

.............and there was me with a big grin because I've now got 83.62 oz t. I've certainly got a little catching up to do I think. Well done Shamatti 

[Keithoil]

Well done people, its a long hard road.

 

Just Keep On Stacking..

[silversword]

Your'e well on the way towards 8 kilos   I have a long way to go to catch you up

[Agpanda]

Congrats, and just keep buying 

[Shamatti]

Your'e well on the way towards 8 kilos   I have a long way to go to catch you up

 

According to the spread sheet:

 

Total in Kg 8.0093312597   Total in Oz 257.5

 

 

(I really should format that cell to have 2 decimal places one of these days! lol I am so lazy when it comes to fine details!

[Danny-boy]

Nice one Sham, well done mate.

More than you thought then?

[Shamatti]

Nice one Sham, well done mate.

More than you thought then?

 

I knew it was coming up but had not been paying much attention. Last I checked it was approx 230 Oz. Sort of forgot about it then it didn't click when I ordered the tube that it would take me over. He he, onwards and upwards. I have another 10 ounces in mind for later this week....

[watchesandwhisky]

Congrats on a great milestone! 

[Danny-boy]

I'm about 60 behind you at the moment.

260 is my initial target as it's half my ultimate goal.

[watchesandwhisky]

I'm about 60 behind you at the moment.

260 is my initial target as it's half my ultimate goal.

 

Is your target based on so you have a ounce a week for the next ten years should you need it? or ten ounces a week for a year? just wondering about the 520 goal

[Danny-boy]

Is your target based on so you have a ounce a week for the next ten years should you need it? or ten ounces a week for a year? just wondering about the 520 goal

Yes, the plan is to sell an ounce a week for 10 years when I retire.

When I retire, silver will be over £50/oz so it's a nice little bonus to top up the pension.

Also plan to invest enough in BTC to buy an ounce of gold per year.

[Shamatti]

Yes, the plan is to sell an ounce a week for 10 years when I retire.

When I retire, silver will be over £50/oz so it's a nice little bonus to top up the pension.

Also plan to invest enough in BTC to buy an ounce of gold per year.

 

The bitcoin boat has sailed. There's no good money to be made there - it's strongest point is it's biggest weakness. It is a limited currency, only a certain finite number can ever exist - by design of course. This rarity may make you think that they will retain value....... But what practical use is a currency that is limited to a tiny percentage of the overall economic system. If only 1 in  million punters can have them, from a business point of view they might as well not even exist.

 

The catastrophic price rises we saw last year will not be repeated. Perhaps there will be a brief rush when the last coin is mined. After that it will be all downhill.

[HighlandTiger]

"The catastrophic price rises we saw last year will not be repeated. Perhaps there will be a brief rush when the last coin is mined. After that it will be all downhill."

 

In that case, as soon as the last coin is mined, I'll be straight onto Bitgild and blow my entire bitcoin stash on silver before the crash   

[ChrisSilver]

The bitcoin boat has sailed. There's no good money to be made there - it's strongest point is it's biggest weakness. It is a limited currency, only a certain finite number can ever exist - by design of course. This rarity may make you think that they will retain value....... But what practical use is a currency that is limited to a tiny percentage of the overall economic system. If only 1 in million punters can have them, from a business point of view they might as well not even exist.

The catastrophic price rises we saw last year will not be repeated. Perhaps there will be a brief rush when the last coin is mined. After that it will be all downhill.

Yea but not all the bitcoins have been mines yet, so currently the market cap of bitcoins is growing. And bitcoins can be split so it's possible to be spread across more than 1million people. I am not very bullish on bitcoins to be honest, but I want to risk buying one, just incase we do see a sore in price. Who knows.

[ChrisSilver]

And well done Shamatti! Over 250 ounces! But you seem to have forgotten how MUCH gold your hoarding too! Makes my small amount of gold seem even more insignificant.

[HighlandTiger]

Yea but not all the bitcoins have been mines yet, so currently the market cap of bitcoins is growing. And bitcoins can be split so it's possible to be spread across more than 1million people. I am not very bullish on bitcoins to be honest, but I want to risk buying one, just incase we do see a sore in price. Who knows.

 

Looking at the current graphs, it is going to take another 5 years before they are all mined. (12.8m so far mined). Holding one or two bitcoins for the next 5 years won't be too much of a risk. And to be honest it'll be a bit of a giggle to see who is right and who is wrong when it comes to these crypto currencies

[Shamatti]

And well done Shamatti! Over 250 ounces! But you seem to have forgotten how MUCH gold your hoarding too! Makes my small amount of gold seem even more insignificant.

 

Yes, my gold is worth just under twice what my silver is..... and weighs about 1/28th what my silver does! Strange world! lol

[DrDime]

The bitcoin boat has sailed. There's no good money to be made there - it's strongest point is it's biggest weakness. It is a limited currency, only a certain finite number can ever exist - by design of course. This rarity may make you think that they will retain value....... But what practical use is a currency that is limited to a tiny percentage of the overall economic system. If only 1 in million punters can have them, from a business point of view they might as well not even exist.

The catastrophic price rises we saw last year will not be repeated. Perhaps there will be a brief rush when the last coin is mined. After that it will be all downhill.

1) the bitcoins are not real coins. They are divisible. Currently into 100,000,000 pieces each. There will be a total of 21,000,000 bitcoins so at the current divisibility protocol that's 2,100,000,000,000,000 units or 3 million for every person on the planet. If needed the protocol can be altered by hard fork to allow further decimal places

2) bitcoin is adaptable enough that it can become any percentage of the worldwide currency system - anything from a small niche to galactic reserve

3) the last coin will be mined in 126 years time. Hopefully I will have retired by then. Even then, the network will be maintained by processing fees for hashing the blocks - a lot of very small fees makes it worthwhile

Sent from my iPad using Tapatalk

[Shamatti]

Just checked any my average pound per ounce is now at £18. There may be one or two shipping fees gone missing from there, but I reckon within 15% that is accurate!

[ChrisSilver]

Please don't derail shamatti's post, bitcoin thread is here: http://thesilverforum.com/topic/584-bitcoin-and-other-crypto-currencies/

[DrDime]

Sorry :-/

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[Shamatti]

Please don't derail shamatti's post, bitcoin thread is here: http://thesilverforum.com/topic/584-bitcoin-and-other-crypto-currencies/

 

That was probably my fault dude! lol