The last "stimulus" alone could easily purchase every single scrap of silver ever mined throughout all of history (transaction, debt)

[mathjak107]

Because without a goods or service having value you wouldn’t know how many dollars to pay.

People decide what values are along with markets on those goods and services

[Thatsright19]

Originally Posted by mathjak107

Because without a goods or service having value you wouldn’t know how many dollars to pay.

People decide what values are along with markets on those goods and services

I understand the service and goods is the value. That’s my entire point.

The gold and silver bugs think the USD itself needs value. But it’s merely a unit of exchange to get things of actual value.

[mathjak107]

Currency came about because if you are a baker and me a cattle raiser .

you may need meat now but I don’t need bread now ...so we come to a trade agreement you will give me two loaves of bread for a 5 lb slab of meat .

So you give me a slip of paper saying I can redeem this for two loaves of bread when I want .

So that paper became a vehicle for bartering in the future

[KevinE]

Silver is an industrial metal and currently there are enough above ground stock piles to satisy industrial demand.

[mojo101]

Originally Posted by mathjak107

Currency came about because if you are a baker and me a cattle raiser .

you may need meat now but I don’t need bread now ...so we come to a trade agreement you will give me two loaves of bread for a 5 lb slab of meat .

So you give me a slip of paper saying I can redeem this for two loaves of bread when I want .

So that paper became a vehicle for bartering in the future

that piece of paper is medium of exchange as well as store of value,NOW, how is Bitcoin a store of value and medium of exchange?
IRS considers Bitcoin as an asset,when you use Bitcoin to buy a TSLA,IRS expects you to report either capital gain or loss on sale of bitcoin,so if there is a short term capital gain,you are actually paying more for that TSLA.
What is to stop some billionaires or sheiks who decide it is better to own the Gobi desert or the London Tower or Empire State Building or a fleet of Boeing 747 than Bitcoins and start selling ,do they ring the bells first so small traders/investors will know in advance?

[mojo101]

there could come a time where the store of value is in the physical item itself and eliminate a third party as medium of exchange say bitcoin,currency,gold,silver,deeds!
I have chicken which lay fresh eggs,you want my eggs for breakfast,come get it with your goat milk or whatever I need-toilet paper,chewing gum,aspirin,antibiotic,shampoo,listerine,seeds,bot tled water,diesel,jet fuel,gasoline.
I dont want you lousy piece of paper,how do I know the next person would accept these papers?
ever watch the movie ELI?

[Sunbiz1]

Originally Posted by Thatsright19

Prove to me why the currency being traded physically needs value itself.

Never said it did, anything we view as having value is considered... valuable.
Currency is merely a representation of labor, what form payments are made in is irrelevant.
200 years ago, beaver pelts were viable forms of payment for groceries; in our modern credit driven system we don't need intrinsic value.
Unless said currency becomes devalued, or there are shortages; as currency only has value during times of surplus goods. When it isn't, such as in Venezuela; we see the barter system back in play.

[Taggerung]

Originally Posted by Thatsright19

I can’t help but notice you value the silver in USD to help conceptualize to us how valuable silver is.

Also, it seems that people valued the USD stimulus they received pretty highly. You can feel that USD are overvalued domestically and internationally, yet the world in mass disagrees.

The first thing the vast majority of people would do if they found silver would be to figure out how much LC or USD it was and figure out how to get rid of it.

Yes, so long as the USD is perceived as a strong, stable currency. But when we get our currency crisis (there is no way we'll be able to avoid it before Biden's first term is up), no one will be selling any silver for dollars.

I don't value silver in USD, I'm just using it as a reference point everyone can understand.

[vision33r]

Which is why Bitcoin is so valuable, when the dollar crisis finally shed some light. Bitcoin maybe worth over $200-500k

[Taggerung]

Originally Posted by vision33r

Which is why Bitcoin is so valuable, when the dollar crisis finally shed some light. Bitcoin maybe worth over $200-500k

Bitcoin is a digital token that does nothing. Not only does it do nothing, it is nothing. The price will collapse once the Greater Fool game comes to an end- not to mention the absurd amounts of energy and the highly complex networks and infrastructure it takes to mine and run Bitcoin. The world is getting ready to head off an energy cliff, which will destroy the viability of Bitcoin.