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New-ish UK based silver stacker here.  Foremost, a numismatics and coins collector.

 

Into crypto-currencies since early 2010 (Bitcoin, Litecoin etc.,) also an open source software advocate, of sorts.

 

I have some retail Forex trading experience, hence the (FX).

 

 

~ www.youtube.com/watch?v=jBVgQBuDt4E - Why Silver And NOT Gold.

 

 

Cheers!

Edited by SilveriteFX
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Welcome to the forum buddy.

Based on the date you mentioned, I imagine you may have made a pretty penny from crypto's.

I got in way too late!!!

 

I was in on crypto to early on. So, yes and no.

 

When I started we used to trade on here: http://newlibertystandard.wikifoundry.com/page/2009+Exchange+Rate - which was the first Bitcoin exchange.

 

I had some bad luck with a few ventures and also could not mine or trade for several year due to personal circumstances.

 

I now own a small private Bitcoin mine, so I'm starting to do OK again.

 

This is me: https://bitcointalk.org/index.php?topic=5.msg188#msg188

 

...

 

I perhaps have a slightly ulterior motive in joining The Silver Forum as I would also like to present the following concept to the community here:

 

- https://bitcointalk.org/index.php?topic=951753.msg11844494#msg11844494

 

...

 

As a genuine silver stacker I look forward to being an active member of this forum.

 

Cheers!  :)

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Thanks for the reply SFX.

I feel all that is way above my head, it took me days to grasp how to buy BTC and transfer to paper wallets!!!!

 

No worries. Thank you for being interested in this concept.

 

It is actually something very simple. As the holder of two separate assets i.e. Precious Metal and CBX (crypto currency) you take the individual action to 'back' one asset with the other.

 

This is something that central banks used to do i.e. backing all paper money in circulation with physical gold - https://wikipedia.org/wiki/Gold_certificate

 

The interesting thing about this concept is it that you retain 100% ownership of both physical assets whilst also demonstrating publically that you own them.

 

Participating in a Value Network can offer numerous benefits to all involved. It is a true concept of 'sound money' store-of-value in principal and in practice.

 

I will start a separate thread in this forum for anyone who would like to participate in this.

Edited by SilveriteFX
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I'd certainly like to learn more about the concept.

Look forward to the thread.

 

Great!

 

I have posted a back-link to this thread in the cryptobullion alt. coin topic thread on the Bitcoin Talk Forum:

 

- https://bitcointalk.org/index.php?topic=951753.msg11860121#msg11860121

 

Realizing that with this post I have essentially backed my own forum accounts!

 

As with Bitcoin paper wallets you will be familiar with storing private keys and how some individuals and companies have applied this concept to precious metals. For example, https://en.bitcoin.it/wiki/Casascius_physical_bitcoins and http://finitebydesign.net

 

The notion of backing your own bullion with cryptocurrency eliminates all 3rd party / counterparty risk entirely, whilst providing combined proof-of-value and enabling the inception of a fully decentralized Value Network. See: http://www.vernaallee.com/value_networks/Value_Conversion_JIC_online_version.pdf

 

You maintain complete ownership of both assets, including your private keys, as wallet signing and verification is a separate process, although cryptographically verifiable.

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  • 3 weeks later...
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Welcome :)

My posts are my personal opinions, they do not constitute advice or financial advice.

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