Sunday, June 19, 2011

Precious Metal Bugs Are Loading Up On Bitcoins? $GLD, $SLV, $GG, $GPL, $GOLD

Gold and silver bugs hate fiat and want it gone NOW.  Since it appears that the process is taking forever(?), some are converting their US Dollar fiat into Bitcoins, hoping to make a killing (thousands of percents) most likely.

The people really excited about bitcoins are those that got in at a few pennies, as it is currently trading near $20.  The rest is hoping that it'll go up a few thousand dollars or to infinity after they buy in.  Why does it sound so much like a Ponzi? 

At any rate, bitcoins are not for me. And I suggest to avoid it.

1 comment:

  1. The IRS is sure to get 'involved' with this. Not to mention the Fed; can't imagine the Fed would let someone in on their territory!