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i know this isn't about crypto but we MUST be diversified to survive and crashes are a good time to do that...
4 Cryptos Yielding 100% or More In Annual Staking Rewards – AXS, SLV, ROWAN & SUPERBID
XTime (BSC) | 2.15 M MC | Total supply of 420B | + 3200 Holders | Fresh token
Bukele: "Buying the Dip. Thanks for the dip, IMF. We saved a million in printed paper".
Bukele: "Buying the Dip. Thanks for the dip, IMF. We saved a million in printed paper".
Mentions
> the reality that it is the only version of "sound" money in the current currency ecosystem What do you mean by "sound money"? Is Gold sound money? GLD is a digital asset that is fully backed by Gold, liquid, and easy to trade/transfer. Is Silver sound money? SLV is fully backed by Silver and is also liquid and easy to trade. Are commodities sound money? There are a wide variety of liquid commodities you can easily save, trade, and transfer on brokerages. Is land sound money? You can already save and trade shares of income-generating land. Are closed end funds sound money (these are funds with a fixed number of shares)? These are also readily available and liquid. > At present it is a currency amongst many currencies that are all in competition with each other How so? Currencies like USD are designed to be a liquid unit of account suitable for communicating stable prices and denominating predictable debts and other contracts (salaries, rents, insurance policies, lines of credit, taxes, etc.). Can you think of a single contract governing any real economic activity that uses a currency which is competing with Fiat? I know some Gold companies occasionally issue Gold denominated bonds to raise capital, but it's tiny compared to Fiat -denominated contracts. What other currencies are used to communicate prices? Maybe you are talking about competition as an investment or store of value? Fiat is not an investment, and the performance of USD assets designed to store value (like savings accounts) is determined by real interest rates, not inflation. Real interest rates are ultimately set by the market between people who want to long USD (savers/lenders) and people who want to short USD (borrowers). > when fiat money is poorly managed What makes you say this? The market's 5 year CPI inflation expectations are currently ~2.2%, just barely above target. USD is still liquid, nonvolatile, relatively predictable, widely used to communicate prices, and widely used to denominate contracts. It is functioning exactly as designed. > But that doesn't mean fiat doesn't have ways to perform better than sound money so there is this back and forth. Yeah, USD assets perform better when the Fed raises interest rates. The whole point of raising interest rates is to increase demand for USD assets and reduce supply (i.e. borrowing), and the whole point of lowering rates is the reverse. That is, USD assets perform as well as they need to to attract enough demand to keep inflation on target, and no better. > It is after all centralized and controlled in a way that BTC is not. Exactly, this makes it more predictable and is the reason why so many rely on it in contracts. If I were a business, why would I take out a debt or agree to pay a salary in a unit of account that might moon and drive me to bankruptcy? > To your point, at some point in the future BTC will be easier to use for transactions because it's value will be normalized to the global market Yet Gold is highly liquid and globally traded, yet it's value is far more volatile than USD and it is not widely used in contracts. The global market itself is pretty liquid (e.g. global index funds), yet these are also far more volatile than USD. USD is a stablecoin. It is predictable precisely because its issuer manipulates it to remain that way. > When the world is denominated in satoshis, there won't be massive fluctuations in perceived value of a BTC When the world was denominated in Gold, there were often substantial fluctuations in the perceived value of Gold, and Gold mooning caused a series of financial panics and mass bankrupcies.
> what the peasantry calls block chain, is just a bunch of data concatenated in blocks, signed by a CRYPTOGRAPHIC signature. This is not true. Individual transactions are signed with a cryptographic signature: this signature of the person who is sending the coins. The CRYPTOGRAPHIC key used to produce this signature is derived from the individual's seed phrase / hard wallet. Blocks consist a bunch of transactions signed by different individuals using different cryptographic keys (wallets). The blocks themselves are not signed by anyone. Instead, blocks are only *hashed*, and anyone can hash block (in fact, miners hash many trillions of blocks every day). > which brings to the final point: bitcoin is the only real crypto currency, because all the others use, one way or another, authority of a centralized entity as the final say so: only bitcoin relies solely on cryptographic signatures. This isn't true though. There are many blockchains that have clients which rely solely on cryptographic signatures to verify transactions and proof of work hashing to verify blocks. For example, there are several infamous clones of Bitcoin which use almost exactly the same software as the Bitcoin client. Hence, they verify their blockchains in almost the exact same manner as the Bitcoin client does. > bitcoin is not about efficiency, but removing intermediaries from the transfer of wealth between people Bitcoin itself *is* an intermediary though. That is, the Bitcoin network is one tool that can be used to transfer wealth between people, and it has its pros and cons depending on the specifics of the use case. There are other intermediaries that you can use with different pros and cons. > people that control the latter tend to get mad corrupt by this privilege Who controls this now? You can send value through many intermediaries today, including banks (through Zelle, which is usually feeless), Venmo, Cashapp (which is Bitcoin-friendly), etc. as well as via brokerages, where you can send stocks, bonds, GLD, SLV, commodities, REITs, etc. You can also use and trade a variety of physical assets including Gold coins.
Hopefully you realize an ETF is only going to enable fractional derivitives similar to SLV. Trust me it is NOT bullish.
I might backpedal on the first statement. I can't recall now if SLV trades futures and Sprott owns the physical asset.
The main difference between SLV and Sprott is one allows redemption of the physical asset. I don't know how Grayscale has been reporting their Bitcoin ownership recently; its been about 12 months since I actively followed their filings. I would imagine they either already do or are prepared to report holdings and NAV per unit should the SEC approve their ETF.
Wouldn't this be the difference between SLV and Sprott Silver? SLV didn't actually go into the market and acquire the appropriate amount of physical silver bullion represented by ETF shares, Sprott Silver does. And part of the original question was in regards to this issue. I *thought* part of grayscales whole schtick was they were going to have a transparent fund that showed coin ownership commensurate with share sales. Obviously one model is better for bitcoin than the other, and is kind of what I wanted to learn about from the original question.
Don't worry about my hopes bud. They're not real high. I'm aware of the concerns regarding price suppression via futures contracts since the futures market morphed out of the gold pool. Ostensibly the ETF purchases would be on chain and would reduce the chance of fuckery. Akin to Sprott Silver vs. SLV. Thanks for the awesome bitcoin 101 advice completely irrelevant to the current question.
> All of what you said is based on the fractional reserve paradigm tho I'm not a fan of fractional reserve and I don't think it's a good model for the current USD system. IMO, a better model is that all dollars in checking and savings accounts are "real" interest-bearing dollars (as "real" as cash) created by the Fed and backed by loans to banks. Banks are essentially deputies of the Fed: instead of the Fed issuing new dollar through loans directly to homeowners/businesses/etc., the Fed issues loans to banks and the banks issue loans to the individuals/businesses. > Why do we need to earn interest? Because the dollar is designed to have a predictable value. Time preferences are determined by the market and can vary, so if the dollar's value is going to be fixed/predictable, then interest rates have to be variable. Otherwise, USD would moon when demand for savings increases and crash when demand for savings decreases (and this in fact happened with Gold and happens with fixed-supply cryptocurrencies today). > Thinking more primitively, you don’t think people sought to have a store of wealth in their money? What do you mean by "a store of wealth in their money"? There are a wide variety of assets ranging from savings accounts and CDs to bonds, stocks, Gold that people can and do use to store wealth. The job of the USD is to be a unit of account that enables stable prices and predictable debts. It is not the primary job of the USD to be a store of wealth: that is what just about every other financial asset is for. > You don’t think that’s possible with a currentcy backed by a hard asset It is: as I said, GLD is already a "currency" backed by a hard asset (Gold) and SLV is already a "currency" backed by a hard asset (Silver), both of which are pretty easy to use today. No one is stopping you from using these to store wealth.
> if dollars were redeemable for gold (or any hard / scarce actual backing) they could be a store of wealth This would be redundant: there are already widely used, liquid financial assets which are redeemable for Gold (GLD, IAU, etc.), for silver (SLV, etc.), and for other commodities. It is already straightforward and nearly free to trade dollars (USD) for gold-backed "dollars" (GLD) or silver-backed "dollars" (SLV) as desired. > They can’t be a store of wealth bc they are inflatable Dollars which don't bear interest aren't a *long term* store of wealth, yeah. Dollars in a savings account or dollar-denominated bonds *can* be a long term store of wealth when inflation is sufficiently predictable and real interest rates are good (or better than risk-adjusted alternatives). Dollars themselves aren't supposed to be a long term store of wealth: they are just supposed to be a predictable unit of account, designed to target 2% medium term CPI inflation while minimizing volatility in prices and interest rates. It is in terms of this predictable unit of account that stores of wealth like bonds or savings accounts are defined. The interest rates on these stores of wealth are ultimately determined by the market so that supply (savers/lenders) matches demand (borrowers). Lower interest rates discourage saving/lending dollars and encourage borrowing dollars, higher interest rates do the opposite. For example, if you believe interest rates are too low, you are free to buy GLD, SLV, or just about any other financial asset on margin at slightly above the "too low" rates. > aren’t backed tho They are fully backed by debt: mostly Treasuries (backed by tax revenue and Government assets), mortgages (backed by homeowners' income and houses/land), and corporate debt (backed by corporate income and corporate assets). That is, every dollar is backed by a promise to take that dollar out of circulation in the future, and these promises create a guaranteed *demand* (a "burn rate") for dollars. The Fed then ensures that the USD's value stays (roughly) on target by calibrating the *supply* of new dollars by tightening or loosening credit (e.g. by setting short term interest rates). So long as there is sufficient assets/income behind the backing debt, raising interest rates and tightening credit is very effective at reducing inflation to keep USD on target (and even triggering substantial deflation if taken to excess).
Post is by: MDot_Cartier and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoCurrency/comments/um8gws/i_know_this_isnt_about_crypto_but_we_must_be/ Let's be real and admit that everything is way down right now. Crypto, stocks, precious metals are all falling day after day but that presents an opportunity if you look back at history of similar market conditions. I personally believe that precious metals are what I'm going to buy because historically after a crash they bounce hard. Im not saying to sell your Crypto or not just giving some historical context about the PM markets predictable response to this type of crash. First the PM market falls along with the stock market because people sell to cover sinking positions but soon after silver, gold, platinum, and palladium pop hard as capital flows to safe haven assets. After the 2008 financial crisis silver saw a nearly 50% dip in prices then a 5x rise shortly after by 2011, in 2020 we saw a 25% drop in prices followed SWIFTLY by a 2x rise in prices in a matter of months. You can check the charts. Right now silver is cheap andstill dropping while supply of physical silver is very tight as indicated by premiums on physical metal and comex inventory stats. #But for the love of god DONT PLAY THE COMEX PAPER SILVER GAME! SLV is a scam, youll never get metal from them with paying exorbitant fees to "load out" a bar. Get physical silver not derivatives, dca as it drops, and hold it until the bounce. It's predictable AF that this will happen again, i don't know how long it will take because that depends on the depth of the stock market crash and this is not financial advice but diversification into real assets is something you should strongly consider. That is all, keep your heads up in this bloody time. #MC² *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
Yeah, like SLV. They are funds that are supposedly backed by “some” physical metal but mainly deal in derivatives (future contracts, etc.) of the silver or gold markets to provide a synthetic exposure to the metals markets. The thing with them though is even if they are backed by metals, you don’t own a share of the metals themselves, you one a slice of the income from them because you have no rights to the underlying physical being held.
>Nothing is taxed until you sell Not true in general, unfortunately. While it's true of most things, there are a number of ETFs/Trusts that have a pass-through taxation structure, such as GBTC, GLD, SLV, etc.
Here's an old page about the concept for commodity ETFs (GLD, SLV, etc): https://www.costbasis.com/otherassets/commodityetfs.html
It’s a trust so costs are marked to market or something and are passed through when holding the shares. Same for my SLV and GLD shares. My 1099 has those amounts listed out separately.
Yeah too bad I lost my stack in an unfortunate boating accident last year. No but seriously look into the 1933 confiscation...many complied but many more did not, hence the availability of constitutional gold and silver. Unless you buy GLD or SLV type ETFs that are custodial it's really up to you in that situation
I thought that you could redeem (load out) SLV at any time (once you reached 1,000 ounces in shares) which is technically true however they make it extremely difficult to actually do it. So many steps and intermediaries you have to go through its ridiculous. There was a guy who did it and made a YouTube video documenting the process and they cancelled his delivery like 5 times saying that he needed more shares every time. It ended up costing so much more than the cost of physical silver. But paxg isnt a comex future contract so hopefully they're different.
Paxg has definitely been peaking my interest as well as PSLV (sprott physical silver) but do they actually audit or is it another comex SLV scam where they don't and it's nearly impossible to take physical delivery of metals? That's been my stumbling block on both.
It’s still down from 19, and when accounting for the lifting of restrictions, it’s actually slower growth than before COVID. Especially when it comes to spending rather than number of visitors. Source: https://www.macrotrends.net/countries/SLV/el-salvador/tourism-statistics#:~:text=El%20Salvador%20tourism%20statistics%20for,a%2011.65%25%20increase%20from%202017.&text=El%20Salvador%20tourism%20statistics%20for%202016%20was,a%203.49%25%20decline%20from%202015.
I agree with your perspective overall. We should be very careful who we praise in any context. The fact that a national leader “coolest dictator” is buying BTC w national treasure leads to the question about how they are handling keys/access. It may make decentralized digital assets a pariah if he absconds with them. To clarify, this is a separate matter from the Gini coefficient and poverty rate that are not correct in what you have written. A gini of 0.47 would be amazing. El Salvador has a gini coefficient around 38.8 - a marked improvement since previous decades. https://fred.stlouisfed.org/series/SIPOVGINISLV Their poverty rate is 22.3%, not 41.6% - also a marked improvement. https://www.macrotrends.net/countries/SLV/el-salvador/poverty-rate
Bitcoin has a lot of new money driven in part because people see it as a store of value during this inflationary period. If the masses lose confidence in this stored value idea, then the money will flow out into stuff like SLV and GLD, the more traditional stores. That will send BTC down at least temporarily.
Don't let these goober "diamond hand" comments change your opinion on this matter. Yes BTC is a great idea, but at the end of the day everyone looks at it and sees "my BTC = X amount of USD". This is the right move when you need the $ to turn into hard assets. No asset is the end all be all whether it's BTC, GLD, SLV, or any other store of value. Good for you and best of luck!
Holding USDT is like holding SLV. One day you'll get rekt.
BITO Yes. BITO. It happened. Just like they did it to Gold with the GLD ETF. Just like they did it to Silver with the DLV ETF. How many of the BITO investors know that BITO doesn’t have any direct supply-demand relationship with actual Bitcoin? This, deflated the interest enough, Bitcoin started to face headwinds. Anyone buying GLD instead of physical gold; SLV instead of physical Silver; and BITO (and other synthetic products) instead of actual Bitcoin is knowingly or unknowingly contributing to the Bitcoin sell off.
Weird saying this in a sub for decentralized currency where there are also a whole lot of versions of currency like money, checks, credit cards, travellors checks. You mean that because we have fiat that crypto bros are all delusional? Western union exists therefore crypto is dumb? I'm glad that the people with imagination and can actually innovate dont think like this. remember when you said this: "Fuck these $GME bag holders harder Melvin Capital. SELL $GME, BUY $SLV." buy silver? that's the extent of your imagination? I hope you get paid for posting here.
They paid 920m dollars in silver spoofing fines. Silver is the most shorted stock SLV etf. But yes, you are correct that amount is adorable.
It's not a secret really, they've been telling El Salvador not to use Bitcoin for a while now: - [IMF Repeats El Salvador Bitcoin Warning as Country Launches $150M Adoption Fund](https://decrypt.co/79925/imf-repeats-el-salvador-bitcoin-warning-country-launches-150m-adoption-fund) - [World Bank Won't Help El Salvador Develop Its Bitcoin Project](https://decrypt.co/73822/world-bank-wont-help-el-salvador-develop-its-bitcoin-project) Interesting to see the current GDP growth and inflation rates of the [US](https://www.imf.org/en/Countries/USA)(4.3% inflation, 6% GDP growth) and [El Salvador](https://www.imf.org/en/Countries/SLV)(3.6% inflation, 9% GDP growth).
Agreed about futures. But even a pegged ETF still isn't technically buying crypto. Think about SLV, the silver ETF. And think about how many people believe that it is one of the vehicles being used to manipulate the silver market.
tldr; Slavicoin, AXS, SuperBid, and Sifchain are among the currencies with 100% or more annual rewards for staking. Staking AXS can yield up to 113.1% annual rewards, which is impressive, considering layers need AXS to upgrade and breed their Axies. SuperBID can yield annual rewards of 100% and SLV can yield 120%. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Buying Bitcoin from Robinhood or PayPal is like buying Silver from SLV or a contract from the COMEX. You are only getting a promise. If you can't "take delivery" with your own personal private keys, you don't own it.
Real BTC is becoming a reserve in fractional schema for paper BTC. Paper BTC is then leveraged/multiplied and sold on the market at artificially low prices. Transactions for such paper BTC can only be settled in cash, i.e paper is not redeemable in real BTC. = pure speculations. Mechanics of manipulations: [https://www.reddit.com/r/wallstreetbets/comments/mbx510/slv\_is\_a\_complete\_scam\_its\_a\_scalp\_trade\_set\_up](https://www.reddit.com/r/wallstreetbets/comments/mbx510/slv_is_a_complete_scam_its_a_scalp_trade_set_up) SLV = BTC ETF.
The banks do that though by issuing more GLD and SLV shares.
I completely agree with you. Physical Silver and SLV are basically completely separate assets at this point. This is what I don’t want to happen to Bitcoin! With silver, it made sense at first cause it’s hard to actually take delivery of tons of silver but with crypto, that’s not a problem!! The banks will sell more Bitcoin than they will ever hold. They do the same with US dollars and every other asset. Bitcoin was created to avoid this mess.
>ut of real bitcoin into s Yes. The futures and the ETFs are the tools they have to manipulate the asset price. Look what they have done with the precious metals price for the last decades. SLV, the major ETF of silver, who claims to be fully backed by the metal, it's a complete scam, owned by the big guys, audited by their friends. Look it up: [https://www.reddit.com/r/wallstreetbets/comments/mbx510/slv\_is\_a\_complete\_scam\_its\_a\_scalp\_trade\_set\_up/](https://www.reddit.com/r/wallstreetbets/comments/mbx510/slv_is_a_complete_scam_its_a_scalp_trade_set_up/) Bitcoin has advantages, since it's more transparent, and has a massive army of educated apes on his side. The real war starts now!
GBTC plans to convert to an ETF as soon as physically backed options are approved. Right now it's just "futures" ETF in consideration. Personally even with the fee I'd rather been in a physically backed option than a futures market. It's still not as good as holding keys, but for a Roth IRA long term investment I'm as comfortable as being in any other commodity option like SLV, etc.
https://databank.worldbank.org/data/download/poverty/987B9C90-CB9F-4D93-AE8C-750588BF00QA/AM2020/Global_POVEQ_SLV.pdf
I've been invested in silver for some decades and I believe there is a corollary there that might be of use here. While I do have silver coins and bars, that has proved to be a bit cumbersome for me. It's heavy as hell, takes up a lot of space and I'm in charge of keeping it from getting stolen. For that reason, I sometimes buy shares of SLV which to my knowledge is similar to the types of ETF's that might emerge in the Bitcoin space in the future. SLV trades fairly closely with the price of silver but it is not exact. I believe the value of the silver represented by SLV is larger than the actual silver they may have stored. Instead they rely on buying or writing futures contracts and other derivatives throughout the silver market and the result is a product that generally follows the price of silver either up or down. Now here's the interesting part- there's much more "paper" silver than actual silver in the big silver vaults around the world. So essentially there is a chance that swings in SLV may actually push the spot price of silver around from time to time instead of the other way around. To bring this back to Bitcoin, I believe that the creation of these ETFs will greatly increase the amount of money that flows in and out of btc every day, (albeit indirectly). This will add wattage to the spotlight that shines on BTC and it will push it to new highs
Yep, it is. But it's going to happen anyway. So use it to your advantage. The main reason Gensler wants to approve futures based (and not physically backed) Bitcoin ETFs is to dampen the tidal wave of money that would otherwise flow into the actual asset and cause Bitcoin to rocket to the moon. Paper backed ETFs like GLD and SLV have been used to manipulate and siphon away demand for precious metals for years. They're trying the same thing with BTC since they know they can't outlaw it outright.
Its a stock market throw back term for buying the asset on paper and not the real thing. For example, when you buy SLV, you are buying paper silver (futures stock) and not physical silver. So in the same light a Bitcoin Futures ETF is paper bitcoin.
All right chaps, here’s the play. SLV calls 4 weeks-6 months out. You’re welcome
> Yes. All his actions so far have shown he has the best interest of the people at heart. > > Words against him are just a heavy propaganda paid by the special interests being affected and don't want him to go that way. Bukele is giving power and progress to the people and, with that, diminishing the grasp and control of central powers over them. > > Reposting this every time a troll keeps posting FUD about El Salvador: > > > The situation has been changing fast since this President took over two years ago. Criminality is dropping dramatically, the economy has improved and he has 90% popular support. > > > > https://np.reddit.com/r/Bitcoin/comments/nt8hi6/im_from_el_salvador_and_im_here_to_clarify_some/ > > Also this: > > https://bitcoinmagazine.com/culture/bitcoin-take-el-salvador-into-the-future > > More stats: > > > > El Salvador (on average) is less dangerous (well, less murdery) than St Louis MO or Baltimore. > > > > [El Salvadore](https://www.macrotrends.net/countries/SLV/el-salvador/murder-homicide-rate) 2018 = Murder rate 50.2 per 100,000 > > > > [St Louis, MO](https://www.roadsnacks.net/murder-capitals-of-america/) 2020 = 64.6 per 100,000 > > > > Baltimore, MD 2020 = 58.3 per 100,000 > > Edit: Adding source of OP's video, the President himself: > > https://twitter.com/nayibbukele/status/1442949756993490945
Yes. All his actions so far have shown he has the best interest of the people at heart. Words against him are just a heavy propaganda paid by the special interests being affected and don't want him to go that way. Bukele is giving power and progress to the people and, with that, diminishing the grasp and control of central powers over them. Reposting this every time a troll keeps posting FUD about El Salvador: > The situation has been changing fast since this President took over two years ago. Criminality is dropping dramatically, the economy has improved and he has 90% popular support. > > https://np.reddit.com/r/Bitcoin/comments/nt8hi6/im_from_el_salvador_and_im_here_to_clarify_some/ Also this: https://bitcoinmagazine.com/culture/bitcoin-take-el-salvador-into-the-future More stats: > > El Salvador (on average) is less dangerous (well, less murdery) than St Louis MO or Baltimore. > > [El Salvadore](https://www.macrotrends.net/countries/SLV/el-salvador/murder-homicide-rate) 2018 = Murder rate 50.2 per 100,000 > > [St Louis, MO](https://www.roadsnacks.net/murder-capitals-of-america/) 2020 = 64.6 per 100,000 > > Baltimore, MD 2020 = 58.3 per 100,000
Their example of cash settled (SLV) isn’t actually cash settled. You can redeem it for silver in large chunks that piss precious metal bugs off because the chunks are too large to be meaningful to retail, but that’s not the point, since the arbitrage still happens from institutions and keeps prices aligned. There are certainly other possible issues with ETFs, but what you’re describing is either a misunderstanding of fractional reserves or actual fraud, which we have a legal system against. It may not be as satisfying to have to rely on fuzzy legal processes but fraud does actually get prosecuted especially when rich people have money to lose, which would be the case if reserves weren’t fully backed. There’s a separate possibility which is that some ETFs don’t actually claim to hold the underlying security, but instead hold futures on that security. This typically happens when storing it is difficult or expensive, so instead of needing a giant oil storage facility I can run an oil ETF out of a small office and roll my futures without ever taking delivery. There are a bunch of issues with that structure too (though that’s sort of what Gensler is judging Bitcoin ETFs towards) but what I said is still true, and you should still be able to redeem the futures if you own big chunks of the ETF. Then if you really want to you can take delivery of those futures (assuming they’re “physically” settled) and get the underlying coin. Anyway, I’m not saying any of this is good per se, just that the amount of FUD about paper X or manipulated Y is ridiculous around here. There’s no doubt a lot of shady stuff that happens in finance but ETFs aren’t what made it possible, and being a financial Luddite and preaching that consenting adults should not voluntarily enter contracts with one another (that’s all an option or a future or any other derivative is, in the end) is just stupid and anti-libertarian IMO.
Haha! Bro you may need to rethink this! An ETF can be set up to track the underlying asset and has the option to settle for cash not the underlying asset. Want an example, SLV! You need Sprott to set up a Bitcoin Trust that backs issued units with the asset!
Reposting this every time a troll keeps posting FUD about El Salvador: > The situation has been changing fast since this President took over two years ago. Criminality is dropping dramatically, the economy has improved and he has 90% popular support. > > https://np.reddit.com/r/Bitcoin/comments/nt8hi6/im_from_el_salvador_and_im_here_to_clarify_some/ Also this: https://bitcoinmagazine.com/culture/bitcoin-take-el-salvador-into-the-future More stats: > > El Salvador (on average) is less dangerous (well, less murdery) than St Louis MO or Baltimore. > > [El Salvadore](https://www.macrotrends.net/countries/SLV/el-salvador/murder-homicide-rate) 2018 = Murder rate 50.2 per 100,000 > > [St Louis, MO](https://www.roadsnacks.net/murder-capitals-of-america/) 2020 = 64.6 per 100,000 > > Baltimore, MD 2020 = 58.3 per 100,000
Bro clearly no amount of real world testimony will sway your opinion. Fuck the people of El Salvador I guess since the BTC subreddit on some social media site that not many citizens of SLV visit said they’ll be fine, their protests, comments, and concerns are unfounded. 😂 the worlds fucked. Bitcoin is not a cure all, and the government there needs more than some hopefully stable enough moon shot as mandatory tender to achieve long term growth.
Reposting this every time a troll keeps posting FUD about El Salvador: > The situation has been changing fast since this President took over two years ago. Criminality is dropping dramatically, the economy has improved and he has 90% popular support. > > https://np.reddit.com/r/Bitcoin/comments/nt8hi6/im_from_el_salvador_and_im_here_to_clarify_some/ Also this: https://bitcoinmagazine.com/culture/bitcoin-take-el-salvador-into-the-future More stats: > > El Salvador (on average) is less dangerous (well, less murdery) than St Louis MO or Baltimore. > > [El Salvadore](https://www.macrotrends.net/countries/SLV/el-salvador/murder-homicide-rate) 2018 = Murder rate 50.2 per 100,000 > > [St Louis, MO](https://www.roadsnacks.net/murder-capitals-of-america/) 2020 = 64.6 per 100,000 > > Baltimore, MD 2020 = 58.3 per 100,000
> Isn’t El Salvador a tad ropey with crime? Riddled with gangs? Reposting this every time a troll keeps posting FUD about El Salvador: > The situation has been changing fast since this President took over two years ago. Criminality is dropping dramatically, the economy has improved and he has 90% popular support. > > https://np.reddit.com/r/Bitcoin/comments/nt8hi6/im_from_el_salvador_and_im_here_to_clarify_some/ Also this: https://bitcoinmagazine.com/culture/bitcoin-take-el-salvador-into-the-future More stats: > > El Salvador (on average) is less dangerous (well, less murdery) than St Louis MO or Baltimore. > > [El Salvadore](https://www.macrotrends.net/countries/SLV/el-salvador/murder-homicide-rate) 2018 = Murder rate 50.2 per 100,000 > > [St Louis, MO](https://www.roadsnacks.net/murder-capitals-of-america/) 2020 = 64.6 per 100,000 > > Baltimore, MD 2020 = 58.3 per 100,000
For all the people here badmouthing my country, please read the linked post below: > > Actions speak stronger than words. The new President has been changing the country a lot (for the good of the people) in the last two years. > > All his actions have shown he has the best interest of the people at heart. > > Words against the new President and El Salvador are just a heavy propaganda paid by the special interests being affected and don't want him to go that way. Bukele is giving power and progress to the people and, with that, diminishing the grasp and control of central powers over them. > > Reposting this every time a troll keeps posting FUD about El Salvador: > > > The situation has been changing fast since this President took over two years ago. Criminality is dropping dramatically, the economy has improved and he has 90% popular support. > > > > https://np.reddit.com/r/Bitcoin/comments/nt8hi6/im_from_el_salvador_and_im_here_to_clarify_some/ > > Also this: > > https://bitcoinmagazine.com/culture/bitcoin-take-el-salvador-into-the-future > > More stats: > > > > El Salvador (on average) is less dangerous (well, less murdery) than St Louis MO or Baltimore. > > > > [El Salvadore](https://www.macrotrends.net/countries/SLV/el-salvador/murder-homicide-rate) 2018 = Murder rate 50.2 per 100,000 > > > > [St Louis, MO](https://www.roadsnacks.net/murder-capitals-of-america/) 2020 = 64.6 per 100,000 > > > > Baltimore, MD 2020 = 58.3 per 100,000
Actions speak stronger than words. The new President has been changing the country a lot (for the good of the people) in the last two years. All his actions have shown he has the best interest of the people at heart. Words against the new President and El Salvador are just a heavy propaganda paid by the special interests being affected and don't want him to go that way. Bukele is giving power and progress to the people and, with that, diminishing the grasp and control of central powers over them. Reposting this every time a troll keeps posting FUD about El Salvador: > The situation has been changing fast since this President took over two years ago. Criminality is dropping dramatically, the economy has improved and he has 90% popular support. > > https://np.reddit.com/r/Bitcoin/comments/nt8hi6/im_from_el_salvador_and_im_here_to_clarify_some/ Also this: https://bitcoinmagazine.com/culture/bitcoin-take-el-salvador-into-the-future More stats: > > El Salvador (on average) is less dangerous (well, less murdery) than St Louis MO or Baltimore. > > [El Salvadore](https://www.macrotrends.net/countries/SLV/el-salvador/murder-homicide-rate) 2018 = Murder rate 50.2 per 100,000 > > [St Louis, MO](https://www.roadsnacks.net/murder-capitals-of-america/) 2020 = 64.6 per 100,000 > > Baltimore, MD 2020 = 58.3 per 100,000
I actually got permabanned from wallstreetbets for bringing up Citadel's ownership stake in AMC and the unusual circumstances surrounding the early shift in enthusiasm on that sub away from GME and heavy promotion of SLV and AMC (Citadel owns huge amts of both) in the wake of the GME squeeze freeze.
Physical silver, not the paper SLV that is manipulated! If you don’t hold it, you don’t own it.
https://www.sprottmoney.com/blog/The-iShares-Silver-Trust-Is-Likely-A-Fraud-SLV-Dave-Kranzler-Feb-17-2021 Just buy physical...
> You’re scaring me, dude. :) > Don't listen to that unfounded FUD. They are outdated. The current President has been changing that and actions speak stronger than words. All his actions have shown he has the best interest of the people at heart. Words against him and El Salvador as a "dangerous" country are just a heavy propaganda ignorant people or by the special interests being affected by the use of Bitcoin (loss of central power/control) and don't want him to go that way. Bukele is giving power and progress to the people and, with that, diminishing the grasp and control of those central powers over them. Reposting this every time a troll keeps posting FUD about El Salvador: > The situation has been changing fast since this President took over two years ago. Criminality is dropping dramatically, the economy has improved and he has 90% popular support. > > https://np.reddit.com/r/Bitcoin/comments/nt8hi6/im_from_el_salvador_and_im_here_to_clarify_some/ More stats: > > El Salvador (on average) is less dangerous (well, less murdery) than St Louis MO or Baltimore. > > [El Salvadore](https://www.macrotrends.net/countries/SLV/el-salvador/murder-homicide-rate) 2018 = Murder rate 50.2 per 100,000 > > [St Louis, MO](https://www.roadsnacks.net/murder-capitals-of-america/) 2020 = 64.6 per 100,000 > > Baltimore, MD 2020 = 58.3 per 100,000
> Also cartel country > You seem outdated. The current President has been changing that and actions speak stronger than words. All his actions have shown he has the best interest of the people at heart. Words against him and El Salvador as a "dangerous" country are just a heavy propaganda ignorant people or by the special interests being affected by the use of Bitcoin (loss of central power/control) and don't want him to go that way. Bukele is giving power and progress to the people and, with that, diminishing the grasp and control of those central powers over them. Reposting this every time a troll keeps posting FUD about El Salvador: > The situation has been changing fast since this President took over two years ago. Criminality is dropping dramatically, the economy has improved and he has 90% popular support. > > https://np.reddit.com/r/Bitcoin/comments/nt8hi6/im_from_el_salvador_and_im_here_to_clarify_some/ More stats: > > El Salvador (on average) is less dangerous (well, less murdery) than St Louis MO or Baltimore. > > [El Salvadore](https://www.macrotrends.net/countries/SLV/el-salvador/murder-homicide-rate) 2018 = Murder rate 50.2 per 100,000 > > [St Louis, MO](https://www.roadsnacks.net/murder-capitals-of-america/) 2020 = 64.6 per 100,000 > > Baltimore, MD 2020 = 58.3 per 100,000
All that would take is market cap bigger than GLD,SLV CPER and every precious metal combined 👌 ludicrous
That info is outdated. > The situation has been changing fast since this President took over two years ago. Criminality is dropping dramatically, the economy has improved and he has 90% popular support. > > https://np.reddit.com/r/Bitcoin/comments/nt8hi6/im_from_el_salvador_and_im_here_to_clarify_some/ More stats: > > El Salvador (on average) is less dangerous (well, less murdery) than St Louis MO or Baltimore. > > [El Salvadore](https://www.macrotrends.net/countries/SLV/el-salvador/murder-homicide-rate) 2018 = Murder rate 50.2 per 100,000 > > [St Louis, MO](https://www.roadsnacks.net/murder-capitals-of-america/) 2020 = 64.6 per 100,000 > > Baltimore, MD 2020 = 58.3 per 100,000
Yummy moons! 
If you ever change your mind, which you probably will. DO NOT BUY $SLV ONLY $PSLV. Just a helpful Ape hint.
>Another lost soul. Initially it was indeed distraction but towards.... SLV which is JPM paper silver market , unsqueezable fractional system on 1:200 (physical/paper) leverage. > >Wallstreetsilver is all about physical worth circa 50bln$ . This is peanuts comparing to paper derivatives market or even BTC. > >You have been fooled like children to stay away from foundation of entire monetary system .Buy PHYSICAL and PSLV !
Yes, it was distraction towards SLV which is paper silver market , unsqueezable fractional system on 1:200 (physical/paper) leverage. Wallstreetsilver is all about physical worth circa 50bln$. These are peanuts comparing to paper derivatives market or even BTC. You have been fooled like children to stay away from foundation of entire monetary system.
The CME silver market cannot be squeezed, research what they did to "the Hunt Brothers". You can be forced (your assets "borrowed") to sell to make an orderly market. Several large players have significant positions in SLV, and some VP probably pitched this idea to pump the price and then have Retail bag hold. It's a trap.
That's a different debate about which vaults actually have the bars 1:1...hence why I stay away from SLV and go with PSLV. I'm not interested in derivative games or fractional banking. When making this post, I was more interested in the connection between silver and crypto since silver is critical to renewable power for the miners...figured someone had already married the two together somewhere. Maybe I was wrong although there's been a few comments I'll research further.
I have physical silver with 401k in PSLV (SLV is a hedge fund sham)...looking at my diversification options to marry the silver and crypto to some degree. I've sat out of crypto (mainly since my transaction kept failing back around 5k) but thinking ahead this week to at least explore more.
Actions speak stronger than words. All his actions have shown he has the best interest of the people at heart. Words against him are just a heavy propaganda paid by the special interests being affected and don't want him to go that way. Bukele is giving power and progress to the people and, with that, diminishing the grasp and control of central powers over them. Reposting this every time a troll keeps posting FUD about El Salvador: > The situation has been changing fast since this President took over two years ago. Criminality is dropping dramatically, the economy has improved and he has 90% popular support. > > https://np.reddit.com/r/Bitcoin/comments/nt8hi6/im_from_el_salvador_and_im_here_to_clarify_some/ More stats: > > El Salvador (on average) is less dangerous (well, less murdery) than St Louis MO or Baltimore. > > [El Salvadore](https://www.macrotrends.net/countries/SLV/el-salvador/murder-homicide-rate) 2018 = Murder rate 50.2 per 100,000 > > [St Louis, MO](https://www.roadsnacks.net/murder-capitals-of-america/) 2020 = 64.6 per 100,000 > > Baltimore, MD 2020 = 58.3 per 100,000
How this FUD ius being upvoted. That's not true anymore. Reposting this every time a troll keeps posting FUD about El Salvador: > The situation has been changing fast since this President took over two years ago. Criminality is dropping dramatically, the economy has improved and he has 90% popular support. > > https://np.reddit.com/r/Bitcoin/comments/nt8hi6/im_from_el_salvador_and_im_here_to_clarify_some/ More stats: > > El Salvador (on average) is less dangerous (well, less murdery) than St Louis MO or Baltimore. > > [El Salvadore](https://www.macrotrends.net/countries/SLV/el-salvador/murder-homicide-rate) 2018 = Murder rate 50.2 per 100,000 > > [St Louis, MO](https://www.roadsnacks.net/murder-capitals-of-america/) 2020 = 64.6 per 100,000 > > Baltimore, MD 2020 = 58.3 per 100,000
Holding half of my coins in PAXG and in the Market I'm deep in copper and SLV until they fall. And I was in GME at 48 and AMC at 9 , but I need that money now so I have to sell my AMC already sold my GME . But long term I agree we're good
Brand new gif produced at soupapinho factory! Take it while its hot! 
Holding CPER IIPR GLD SLV SQQQ TECS and PAXG
Yeah...ETFs would be a big negative....just look at what jp morgan does with the Silver SLV etf. While bitcoin is more transparent that the LBMA storage vaults, it just gives them another opportunity to screw with the price without holding the underlying. CME (cash settled) futures were also sold as being bullish for btc, but were in reality a method to tamp down the price using leverage that simply doesn't exist in the underlying asset (before the futures market, the only way to short bitcoin, was to find someone willing to lend it to you...ha, fat chance)
Reposting this every time a troll keeps posting FUD about El Salvador: > The situation has been changing fast since this President took over two years ago. Criminality is dropping dramatically, the economy has improved and he has 90% popular support. > > https://np.reddit.com/r/Bitcoin/comments/nt8hi6/im_from_el_salvador_and_im_here_to_clarify_some/ More stats: > > El Salvador (on average) is less dangerous (well, less murdery) than St Louis MO or Baltimore. > > [El Salvadore](https://www.macrotrends.net/countries/SLV/el-salvador/murder-homicide-rate) 2018 = Murder rate 50.2 per 100,000 > > [St Louis, MO](https://www.roadsnacks.net/murder-capitals-of-america/) 2020 = 64.6 per 100,000 > > Baltimore, MD 2020 = 58.3 per 100,000
I don't trade SLV but I'd much rather do that than be a sucker who buys into a worthless scam shitcoin like this. Enjoy that rug pull.
Real estate ETFs are the way to go , I'd buy IIPR CPER and SLV right now , and zero crypto
El Salvador (on average) is less dangerous (well, less murdery) than St Louis MO or Baltimore. [El Salvadore](https://www.macrotrends.net/countries/SLV/el-salvador/murder-homicide-rate) 2018 = Murder rate 50.2 per 100,000 [St Louis, MO](https://www.roadsnacks.net/murder-capitals-of-america/) 2020 = 64.6 per 100,000 Baltimore, MD 2020 = 58.3 per 100,000 I've never been to any of these places but I'd imagine that they are all actually quite safe unless you wander into the dangerous parts or go looking for trouble.
About the same as Baltimore. Baltimore has a larger population though by about 30%. https://www.macrotrends.net/cities/us/md/baltimore/murder-homicide-rate-statistics https://www.macrotrends.net/countries/SLV/el-salvador/murder-homicide-rate
But people are [fleeing](https://www.macrotrends.net/countries/SLV/el-salvador/net-migration#:~:text=The%20net%20migration%20rate%20for,a%204.12%25%20decline%20from%202017.)El Salvador
Was a bit ago, perhaps my memory is rusty, but all I remember is CNBC pushing a narrative specifically about SLV trying to distract from GME, then I remember DD, and I think got muddied from SLV, then WSS broke away from WSB and formed their own sub. If you go there they are strongly against SLV.
SLV wasn't pumped on wsb - the original DD was pretty clear that buying and taking physical delivery was paramount due to certain banks not actually having the silver.
I think you're mixed up friend, you're thinking of SLV, it's iShares derivative ETF not actually backed by silver pumped on WSB months ago. Physical silver is not a scam lol, physical silver is used in countries suffering from hyperinflation like Venezuela alongside crypto, it's been money for thousands of years and will continue to be for many more.
If your looking for some hot coins!!!!! Try GLD SLV YEN they will be pumping all week!!!
Add YEN SLV GLD new hot coins
Pretty sure JP Morgan is in trouble if silver rises too much and too fast. Yes, they hold a ton of physical, but I believe they have this mostly to crush price action because they have a massive paper short related to SLV.
I have physical hands on shiney silver. I have government mints, coins and also bars of it. You could also buy PSLV stock because for every share you buy it's backed by physical silver in their vaults. DO NOT buy SLV, it is a scam stock not backed by anything, jack shit. You can order online, or go to a local coin shop. If you're interested check out r /WallStreetSilver . This isn't mean anything about crypto, I still love crypto and believe in it 100%, but if you want to diversify, us silver stackers have the same mindset of the crypto community (banks/fed are corrupt). Protect your future just like you do with crypto.
lol ya I'm not actually saying metals are a bad buy. but JPM squatting so much of it, it makes sense why post GME, they were pedaling SLV, and now they're pedaling gold... they need metals to keep rising to keep their books happy. selling gold has less to do with its value as an asset, and more to do with knowing a flash crash in commodities would scare the shit out of JPM right now, and I'd love to watch that crooked greaseball Jamie Dimon sweat :P lol
I've chosen to move most of my crypto gains into physical silver, and silver miners for beta. Experienced observers of the precious metals space can see the technical charts for silver and gold are setup for a run, as much as 50% for gold and 100% for silver... the silver miners are like crypto on steroids, at times like this, and the small caps can move 10x in a week before hitting more the next. I use the Sprott ETF - PSLV as a means to buy and hold title to silver I don't want to take possesion of (not SLV which is a scam of paper silver). I use Kinesis Monetary a my means to buy crypto gold (KAU) and silver (KAG), and Kinesis has the added bonus of paying me a yield (yields start next month), I can use a VISA debit card for purchases, and things really go sideways I can call for delivery of my metals anywhere in the world. Kinesis has a proprietary exchange that handles BTC, ETH, USDT, USD, EUR, and GBP, but plans are to have their KAU and KAG trading on external exchanges soon (no word yet which ones). There's an added bonus of a Kinesis Velocity Token (300,000 ever) and these give you partial ownership of company profits. And then there's always the physical silver in hand that I get from reputable bullion dealers. Those silver miners are best learned about from a guy on Twitter, 'at'TheLastDegree ... he goes by Gold Ventures, and makes a lot of info available about what he's buying, and why. So, that's what I am doing while seeing the writing on the wall of a shift in investment flows and sentiment of people looking for momentum. I think the next 10 months puts momentum in silver mostly, and gold some.
Who’s keeping SLV ? This a bank’s product to short silver . Boomers keep physical or PSLV.You’re welcome
Dear boomers, you heard the man. Get rid of $SLV als long as you can. Let Kenny choke on his foul silver.
It’s like buy SLV. You can’t take delivery, but you can take advantage of price action.
I sold all my SLV at 26.50 for crypto
Hopefully they won't again disable any buy or sell buttons on volatility. Also good luck paying for anything with it from RH. And since you're basically biying SLV instead of PSLV (Coinbase) or Physical silver, you aren't affecting the market a all.
What happens when they create their BS ETFs and leverage real BTC 500x like they did to SLV?
I invested in gold during the financial crisis, and was a huge fan of Peter Schiff. I feared hyper-inflation and even hoarded canned food, in a semi-prepper way. The rhetoric was the same back then, as now. Hyper-inflation coming, buy gold. Now it's just "digital gold" – i.e. Bitcoin. It didn't materialize. And I lost out on huge stock market gains, because I was so "invested" in the idea of "yeah right... It's just a suckers rally... it will all go to shit... So I'll keep my GLD and SLV..." Gold was a very very boring asset to hold. It moves sooooo slowly. And it didn't even hold its value very well. It had looooong bear-periods, too! And was overall an *utterly meaningless investment*.
Yes, the mechanics are the same. Even if demand comes in through futures, arbitrage should increase the spot price too. The difference could be in the players and their objectives. Central Banks control the supply of gold, and they could have a vested interest in suppressing its price (and maybe other precious metals) to be able to say more convincingly there is no inflation (and they allegedly use derivatives to do that). Oil is controlled by nation states and transnational companies with different geopolitical goals, so incentives are not aligned between players, so it has a more "legitimate" market. But that's a little bit of speculation on my part. With all that being said, I had a look at the market cap of silver, and it looks to be roughly 1.4 trillion USD. Now, you don't need another 1.4 trillion to, say, double the price of silver, probably much less than that. But as you said, SLV AUM is 15 billion, or a little over 1% of market cap...I am guessing not enough to "squeeze", especially when 21 billion is being mined every year. I don't know where the 800x is coming from either.
Doesn't oil also have a large market in futures and other derivatives? How does it differ from gold and silver? Also, I just ran some quick numbers. Recently about 25,000 tonnes or $21 billion of silver is mined per year. CME open interest in silver futures represents about $20 billion. AUM for SLV is $15 billion and this is possibly double counting the CME futures. I'm sure I'm missing something here - being generous it looks like paper silver might represent 2 years of mining which doesn't seem like 800x physical silver?