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On 28/11/2017 at 17:08, Kman said:

It was spam

"Okay, i have been investing in silver and gold for over 20 years now.

Hoping for one day that silver and gold prices would rocket to the moon."

I mean if you were buying oz of gold for £200ish for 7 years between 1997-2004 it's not turned out so bad has it lol 

Isn't hindsight marvellous? Back then I was offered a full Krugerrand for £240, I was disgusted that they were charging £20 more than bullion dealers. Now you can't get a nice sovereign for that price

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On 28/11/2017 at 16:38, JCRJM said:

It is only used by them because it is encrypted. Though this is wereit started the currencies are used less and less for criminals. If you go and watch the live trades of hundreds of thousands and millions that is not the criminals who were using bitcoin to buy drugs on the silk road. These transactions are being done by the likes of global banks. I suppose you could call the banks criminal tbh

This touches on a really interesting topic, whether having things untraceable is inherently suspicious or whether it should, or is becoming, a default for interactions?

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On 28/11/2017 at 19:50, BackyardBullion said:

At least with PM's you can store them at home or in a bank in a safe. If someone wants to steal them they have to come find them, break in and open your safe. With cryptos a 14 year old Chinese hacker can get your coins from the comfort of his own home. 

Possession is nine tenths of the law and all!

Not to mention - computer dies = big problem if you haven't backed up your codes for your coins.

Actually it's possible to not have your bitcoin held by an external, hackable, company. And you can basically fit the passwords/encryption keys for bitcoin on a piece of paper, or maybe engraved into a slab of silver. Most don't take these precautions, hence so many stories of woe.

[EDIT rereading I realized that this point was already made]

What I think is perhaps more relevant is that the value in bitcoin relies on the supporting network continuing to exist. Sure it's profitable for miners now, but what about in twenty years time? Many gamers have seen beloved worlds lost because maintaining servers was no longer economical

Edited by PansPurse

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