You are viewing a single comment's thread from:
RE: Silver Investment as a Cryptocurrency?
I think silver is undervalued but will really only have its value accurately valued if our economy crashes again. What do you mean by crypto silver?
Also side note, I followed after seeing that you were a nurse, I'm also a nurse :) let's follow each other?
Hello cryptounicorn! In my personal definition, I see crypto silver as a token backed by the actual metal. An example would be a bullion vault, where you can hold your silver- but would be issued a crypto token based on the amount of silver that is held for you in the vault (a private bullion vault). I have researched the idea- it seems to be gaining attention. I would happy to follow you!
I'd definitely be interested if there was a silver-backed crypto, although wouldn't it end up being more directly tied to the price of silver itself?
Hello again! It would end up tied to the price of silver, based on the comex (or other precious metal market). Good point!
Would it be directly tied, or would the crypto be somehow leveraged? Because silver hasn't exactly been making too many major moves in recent times. I feel the price of silver is artificially suppressed.
I think that the crypto would be directly tied to a live, existing market. Just my opinion. Silver is greatly suppressed.
I suppose though if the currency itself had a large crowd sale that guaranteed that that the currency would take ownership of a large amount of physical silver, perhaps maybe it could uproot a lot of power from the comex exchanges and end a lot of the corruption in the precious metals market.
I agree. Cryptunicorn- I am signing off for now- have to work a twelve hour shift tonight. I will look further for other posts from you. Thank you for your replies!
Your welcome, I enjoyed pondering this opportunity...hope those patient's don't give you too hard a time today <3